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12-03-2021, 09:35 AM | #11971 |
Kind of a mod
Join Date: Aug 2005
Location: Donkey Land
Casino cash: $206899
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It's a "get rich quick" play under the belief that eventually it will cause a short squeeze and go through the roof (though we've been waiting for that for like 6 months now).
Beyond that, some are just trying to make a little money on the volatility. It's basically cycled back and forth between ~$30 and ~$50 for months now, so if you figure that can continue, you can buy on the low end and sell on the high end. Of course, it's probably truly only worth about ~$2, so you run the risk of it crashing down to earth at some point. |
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12-03-2021, 09:39 AM | #11972 | |
Forever Royal
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I get the volatility aspect but there are plenty of big movers to consider that aren’t talked about as much. Seems like maybe it consists of people upset they missed the huge growth. |
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12-03-2021, 09:39 AM | #11973 | |
I'll be back.
Join Date: Nov 2002
Casino cash: $2890478
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You buy it when it's going up it might get dumped shortly thereafter. Good way to become a goddamn bag holder. I'd rather play it conservatively. I'll buy at 52-week or 6-month lows and bet on it going up in the short term. That has worked well for me.
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12-03-2021, 09:40 AM | #11974 |
Supporter
Join Date: Feb 2005
Location: Olathe, Ks
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I am not liking this market at all. Heavy selling into every up move. Market internals look like shit, overblown fear about Omicron......
If you are a long term investor I would be ready to start dipping in but I would go slow.... |
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12-03-2021, 09:53 AM | #11975 |
Supporter
Join Date: Feb 2005
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we push much lower and we are going to have an outside day which can be good but yet still not good..
What is an outside day, you ask?? https://www.investopedia.com/terms/o...dereversal.asp |
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12-03-2021, 09:56 AM | #11976 | |
Mod Team
Join Date: Sep 2011
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It’s what most people think and it’s why 90% of traders lose. A “cheap” stock is many times cheap for a reason and it’s harder for individual stocks to reverse a trend than continue a current one. That’s why you buy stocks while they trend higher and set stop losses on moves up to decrease downside risk and lock in made gains. It’s ok if you don’t want to learn though. I’ve provided plenty of education in here and some people just prefer guessing without a plan, which is how you become a bag holder. |
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12-03-2021, 09:57 AM | #11977 | ||
Mod Team
Join Date: Sep 2011
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Makes me wonder if your posts in other threads are jokes. |
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12-03-2021, 10:02 AM | #11978 | |
I'll be back.
Join Date: Nov 2002
Casino cash: $2890478
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Quote:
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12-03-2021, 10:07 AM | #11979 |
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I should say if we get another outside day and we are about too...this will make the 2nd in 3 days and the 3rd since the sell off started which actually started with an outside day
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12-03-2021, 10:09 AM | #11980 |
Mod Team
Join Date: Sep 2011
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Nope, just trying to educate you. Trading isn’t about knowing everything. It’s about having a system where you only need to be correct 50% of the time to make money. And it surly isn’t guessing or buying stocks in a down trend.
I’m sorry you won’t listen to any advice that’s trying to help you. |
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12-03-2021, 10:24 AM | #11981 | |
Supporter
Join Date: Feb 2005
Location: Olathe, Ks
Casino cash: $974127
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Day trading or swing trading stocks is tough because you have several factors to consider: Screen the stocks How is the overall market in relation to the stock How is the overall sector in relation to the overall market How is the overall sector in relation to the stock Analyst "Recommendations" that move a stock quickly one way or the other That's why I don't do it anymore. Finding the stocks is a pain and time consuming. If I do dabble in it I try to do it with a buy-write call spread or something. I'd rather focus on the overall market, e.g. SPY, QQQ, etc. |
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12-03-2021, 10:29 AM | #11982 |
Supporter
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If you want to gamble today, right now is a good time to buy the SPY if you think we will head back up towards the close. Seeing a good buying spot.
My concern though is people selling into the close not wanting to be long over the Omicron weekend.... |
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12-03-2021, 10:30 AM | #11983 | |
I'll be back.
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Quote:
My system works just fine for me.
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12-03-2021, 10:33 AM | #11984 | |
Mod Team
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I trade on Mark Minervini principles. I pay for a screener that I can manipulate to look for stocks that meet certain rules. I can scan through a list of 700 stocks in about 30 minutes looking for certain patterns. Best book I’ve ever read. Think & Trade Like a Champion: The Secrets, Rules & Blunt Truths of a Stock Market Wizard https://www.amazon.com/dp/0996307931...J5N4CX5K0MQ44A |
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12-03-2021, 10:34 AM | #11985 |
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No way I’m holding over the weekend given current conditions.
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