concha Posted July 8, 2020 Report Share Posted July 8, 2020 Quote Link to comment Share on other sites More sharing options...
DarterBlue Posted July 8, 2020 Author Report Share Posted July 8, 2020 26 minutes ago, imaGoodBoyNow said: I sold within 3 mins, made my $60 bucks and happy, PlayStation just accepted dodgecoin and that meter just kept shooting up. I sold way to early but I wanted to make sure I sold before it went down If you are going to be an effective day trader which seems like this is where you are heading, then you need to got to "indicator school." If you don't educate yourself on the use of a group of indicators that you are comfortable with, you will have no idea what to buy, when to buy it and when to exit. That's all I am saying. I get the impression you are doing this for an Adrenalin rush. If this is the case, it's better than doing hard drugs. In fact, it's about the same as going to the casinos on a regular basis, expensive, but it won't destroy your mind. I entered the markets both because they fascinated me, and, more importantly, because I realized that in the American economic system, there were not many ways for a relatively broke outsider to attain economic security. So, with that in mind, I dedicated my time to find out what worked so I could exploit it profitably. Quote Link to comment Share on other sites More sharing options...
DarterBlue Posted July 8, 2020 Author Report Share Posted July 8, 2020 Continued Wide and Loose Trading: As I type this, the DOW has given up most of a gain that was in excess of 200 points. The NASDAQ has given up about a third of its gains. The catalyst for the selloff was an announcement by a Fed regional governor, that it may scale back its bond buying. Clearly this was coming from Chairman Powell. The market did not like this news and like a spoilt child, is acting out. The Fed is between a rock and a hard place as it has backed itself into a corner with easy money. When the piper is finally paid, the results should be dramatic! Quote Link to comment Share on other sites More sharing options...
imaGoodBoyNow Posted July 8, 2020 Report Share Posted July 8, 2020 https://www.cfo.com/ipos/2020/07/palantir-files-for-ipo/ Quote Link to comment Share on other sites More sharing options...
DarterBlue Posted July 8, 2020 Author Report Share Posted July 8, 2020 8 minutes ago, imaGoodBoyNow said: https://www.cfo.com/ipos/2020/07/palantir-files-for-ipo/ This one I will pass on as a matter of principle. Too closely associated with our intelligence apparatus for my liking. Sounds more like a Chinese or Soviet company! 1 Quote Link to comment Share on other sites More sharing options...
DarterBlue Posted July 8, 2020 Author Report Share Posted July 8, 2020 12 minutes ago, DarterBlue said: Continued Wide and Loose Trading: As I type this, the DOW has given up most of a gain that was in excess of 200 points. The NASDAQ has given up about a third of its gains. The catalyst for the selloff was an announcement by a Fed regional governor, that it may scale back its bond buying. Clearly this was coming from Chairman Powell. The market did not like this news and like a spoilt child, is acting out. The Fed is between a rock and a hard place as it has backed itself into a corner with easy money. When the piper is finally paid, the results should be dramatic! Damn, the selling has intensified and the DOW, S&P 500 as well as the MID and Russell are now negative. Nasty intra day reversal if we keep selling into the close. Quote Link to comment Share on other sites More sharing options...
imaGoodBoyNow Posted July 8, 2020 Report Share Posted July 8, 2020 10 minutes ago, DarterBlue said: Damn, the selling has intensified and the DOW, S&P 500 as well as the MID and Russell are now negative. Nasty intra day reversal if we keep selling into the close. Intra what now? Quote Link to comment Share on other sites More sharing options...
DarterBlue Posted July 8, 2020 Author Report Share Posted July 8, 2020 14 minutes ago, imaGoodBoyNow said: Intra what now? Stocks just gyrating wildly. Not the kind of action I like. I have no problem with volatility. But I like to see conviction either going up or down. These wild swings don't float my boat. That's how you capsize and end up in the water. BTW, NKLA was up over 20% earlier on an analyst upgrade. Oh well ... Quote Link to comment Share on other sites More sharing options...
HSFBfan Posted July 8, 2020 Report Share Posted July 8, 2020 6 minutes ago, DarterBlue said: Stocks just gyrating wildly. Not the kind of action I like. I have no problem with volatility. But I like to see conviction either going up or down. These wild swings don't float my boat. That's how you capsize and end up in the water. BTW, NKLA was up over 20% earlier on an analyst upgrade. Oh well ... Are there shorties out there who want the market to drop to try to beat trump?? Trump obv cites the markets a lot. If they tank this close to election could absolutely kill him in november Quote Link to comment Share on other sites More sharing options...
DarterBlue Posted July 8, 2020 Author Report Share Posted July 8, 2020 5 minutes ago, HSFBfan said: Are there shorties out there who want the market to drop to try to beat trump?? Trump obv cites the markets a lot. If they tank this close to election could absolutely kill him in november The market's strength or lack of strength will be driven by Covid-19. If deaths stay low, and the economy stays open, the market will not tank regardless. However, if deaths increase to over 1,000 per day consistently, and this ends in shut downs in some states out of necessity, then the market will sell off as the economic rebound will be in peril. Quote Link to comment Share on other sites More sharing options...
HSFBfan Posted July 8, 2020 Report Share Posted July 8, 2020 Just now, DarterBlue said: The market's strength or lack of strength will be driven by Covid-19. If deaths stay low, and the economy stays open, the market will not tank regardless. However, if deaths increase to over 1,000 per day consistently, and this ends in shut downs in some states out of necessity, then the market will sell off as the economic rebound will be in peril. Can't put it any better than that imo Quote Link to comment Share on other sites More sharing options...
DarterBlue Posted July 8, 2020 Author Report Share Posted July 8, 2020 2 hours ago, DarterBlue said: Damn, the selling has intensified and the DOW, S&P 500 as well as the MID and Russell are now negative. Nasty intra day reversal if we keep selling into the close. As quickly as most of the averages went negative (NASDAQ was a hair's breadth away), they reversed. As I type this the NASDAQ has regained 80% of its intraday highs. However, the other indices are laboring but at least have mostly gone positive again. With nearly 2.5 hours left in the trading day, anything is possible at the close. Quote Link to comment Share on other sites More sharing options...
imaGoodBoyNow Posted July 8, 2020 Report Share Posted July 8, 2020 Got damnit my account froze, My day trading is disabled. My portfolio dipped under 25k Quote Link to comment Share on other sites More sharing options...
HSFBfan Posted July 8, 2020 Report Share Posted July 8, 2020 6 minutes ago, imaGoodBoyNow said: Got damnit my account froze, My day trading is disabled. My portfolio dipped under 25k I'm up 3% today Quote Link to comment Share on other sites More sharing options...
DarterBlue Posted July 8, 2020 Author Report Share Posted July 8, 2020 In a volatile day, which saw the averages reverse lower and then higher during its course, socks closed broadly higher. Volume was mixed with NYSE higher and NASDAQ lower. At day’s close, the two NASDAQ indices were again at all-time highs. At the close, the range was from a gain of .68% on the DOW and MID Cap index, to a gain of 1.44% on the NASDAQ. Advancing stocks led by margins of 17-12 and 19-14 on the NYSE and NASDAQ. What’s my take on the day? The close was bullish; however, the trading during the day was lacking in conviction. Moreover, aside from the two NASDAQ indices which notched all-time highs, the other indices failed to regain all of Tuesday’s losses and failed to regain the support levels that were violated. All, in all, it was a mixed day from my perspective. With that said, nothing occurred to shift me from my current bullish stance. On a personal note, I tried to ditch the FRO options which are very close to expiring worthless. I was able to get rid of half the position, or 9 contracts for the net, princely sum of $4. Well at least I can buy a sub for my troubles. On the day, I was up $6,735 or 1.19%. With the exception of the NASDAQ indices, I outperformed the market. All my positions were up except for LCII which lost minimal ground. My best winners were TEAM and TTD, followed by the S&P Options and ZM. The laggards were SHOP and the MDY. I am now up over 54% each on ZM and TTD, and 36% on SHOP. The former two are acting beautifully and I am going to try and hold both for what will, hopefully, be 100% gains. SHOP on the other hand is acting a bit suspiciously. It may be in the process of building a new base, and if that’s the case, I will happily hold it. However, if it seems to be breaking down, I will part ways with it. Finally, free from the shackles of DarterBlue ownership, NKLA skyrocketed today and was up 34% on massive volume. Catalyst for the move was an upgrade to buy by an analyst that follow the stock. Had I not sold yesterday, I could have closed the position out today for more than $1,500 more than I did yesterday. So, do I regret selling? No, the stock clearly violated its 50-day moving average yesterday and seemed to be in free fall. It should be interesting to see whether, the analyst upgrade will change its fortunes over the next few weeks. Quote Link to comment Share on other sites More sharing options...
DarterBlue Posted July 8, 2020 Author Report Share Posted July 8, 2020 14 minutes ago, imaGoodBoyNow said: Got damnit my account froze, My day trading is disabled. My portfolio dipped under 25k Did Robinhood do this to you on purpose or was it a connection glitch? Quote Link to comment Share on other sites More sharing options...
imaGoodBoyNow Posted July 8, 2020 Report Share Posted July 8, 2020 11 minutes ago, DarterBlue said: Did Robinhood do this to you on purpose or was it a connection glitch? On purpose cause I didn’t realize I did my 4th Day trade in 5 days , it’s unlimited day trades if portfolio is above 25,000$ Quote Link to comment Share on other sites More sharing options...
DarterBlue Posted July 8, 2020 Author Report Share Posted July 8, 2020 2 minutes ago, imaGoodBoyNow said: On purpose cause I didn’t realize I did my 4th Day trade in 5 days , it’s unlimited day trades if portfolio is above 25,000$ If they restrict you that way, then I suggest one of the following: 1. Make sure you have at least $30,000 in the account if you are going to day trade. 2. Ease off the day trading till you have built up at least $50,000 in capital and have done some serious work doing the following: 1. Analyzing multiple charts so you can develop pattern recognition. 2. Look up a library of indicators, apply some to a few charts of your choosing. See what kinds of signals they gave you at different points on the chart. Based on that, figure out which indicators you like best and incorporate them in your day trading. If you are going to day trade you can always shorten the time periods of the indicators you use. I am giving you this advice because the only way to have an edge in day trading is to be systematic. For you don't have time on your side to bail you out and day trading profits tend to be relatively small. I have just given you some super valuable advice. If you ignore it, I can almost guarantee that you will fail at day trading. Not enough profits in day trades to approach them willy nilly and think you are going to win enough times to make money. Quote Link to comment Share on other sites More sharing options...
DarterBlue Posted July 9, 2020 Author Report Share Posted July 9, 2020 Continued Bifurcation: As I type this, the divergence between the NASDAQ type stocks and the traditional, types: industrial, transportation, retail, hospitality, etc., seems set to continue as technology stocks are driving the NASDAQ higher in premarket activity, while the DOW futures are down and the S&P futures are flat. For the most part, this is welcome news for me, since I am over weighted in tech. However, it is bad for the long term health of this Covid-19 bull market. Based on this, my strategy is to keep what I currently own for now, but to keep my eyes fixed on the exit. When the time comes to exit, I am inclined to think it will be similar to the February meltdown, and not give the kind of topping notice that most impending bear markets do. Quote Link to comment Share on other sites More sharing options...
HSFBfan Posted July 9, 2020 Report Share Posted July 9, 2020 Dow getting killed by scotus ruling Quote Link to comment Share on other sites More sharing options...
DarterBlue Posted July 9, 2020 Author Report Share Posted July 9, 2020 1 minute ago, HSFBfan said: Dow getting killed by scotus ruling Yes, all the averages sank like stones thrown into the water on the news. But I believe they will bounce back. Trump can probably stall the release till after the elections. So, if there is dirt in them, it probably won't be a factor. Quote Link to comment Share on other sites More sharing options...
HSFBfan Posted July 9, 2020 Report Share Posted July 9, 2020 Just now, DarterBlue said: Yes, all the averages sank like stones thrown into the water on the news. But I believe they will bounce back. Trump can probably stall the release till after the elections. So, if there is dirt in them, it probably won't be a factor. Its going back to the district level were argument will continue Quote Link to comment Share on other sites More sharing options...
imaGoodBoyNow Posted July 9, 2020 Report Share Posted July 9, 2020 @DarterBlue fuck NKLA seriously fuck them and their traders😩😫 Quote Link to comment Share on other sites More sharing options...
imaGoodBoyNow Posted July 9, 2020 Report Share Posted July 9, 2020 Bought clean energy fuel the minute they partnered with chevron , nothing happened and then overnight chevron went down and Clean energy went up and I sold almost at its peak at 10 am before it dipped on to the next Quote Link to comment Share on other sites More sharing options...
DarterBlue Posted July 9, 2020 Author Report Share Posted July 9, 2020 2 minutes ago, imaGoodBoyNow said: @DarterBlue fuck NKLA seriously fuck them and their traders😩😫 To be honest, the jury is still out on the company. It may well eventually develop a home run set of products. It is quite possible. But it totally broke down. So, I had to sell it. The day after an analyst upgraded it to a buy. Will it hold the rebound? I have no idea. What I do know is I could have exited at much better prices. Or I could still be holding it off the bottom. NKLA's story will likely play out over the next two years. If the company is successful, it will trade north of $500. If it proves to be a dud, the stock will go back to the single digits. I have no earthly idea which happens. Quote Link to comment Share on other sites More sharing options...
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