The Stock Market

[HSFBfan]

Just now, DarterBlue said:

You don't strike me as an investor, but more of a trader. Provided AAL does not go bankrupt (it's possible without government support that all the airlines could), then it is a good long term investment. But it could easily take two or more years to show a profit and maybe five to make significant money. Are you able to wait that long? I know I could not, I am too impatient. But if you can you have a decent chance of making good money on it. 

I'm trying to be more of an investor but act like a trader 

The only way to make money is if you have action in the game 

Hopefully congress can wake up and give us the checks that are coming apparently. Can throw a few hundred dollars more into it

[DarterBlue]

6 minutes ago, HSFBfan said:

I'm trying to be more of an investor but act like a trader 

The only way to make money is if you have action in the game 

Hopefully congress can wake up and give us the checks that are coming apparently. Can throw a few hundred dollars more into it

The way to make money whether you invest or trade is to have a plan that gives you an edge and the fortitude to stick with it. Most neophytes believe making money is just picking the next hot stock. It does not work that way. This is hard work both mentally and emotionally. That is why many fail at this game.

[HSFBfan]

3 minutes ago, DarterBlue said:

The way to make money whether you invest or trade is to have a plan that gives you an edge and the fortitude to stick with it. Most neophytes believe making money is just picking the next hot stock. It does not work that way. This is hard work both mentally and emotionally. That is why many fail at this game.

Absolutely but many stocks are still very cheap compared to what they were at

I even look at marathon oil. It's trading at around 6. 52 week high was 14. More people will road trip now and WTI is heading up

Also my prediction for the dow to be over 30000 by November is looking great. 27700 today 

[DarterBlue]

22 minutes ago, HSFBfan said:

Absolutely but many stocks are still very cheap compared to what they were at

I even look at marathon oil. It's trading at around 6. 52 week high was 14. More people will road trip now and WTI is heading up

Also my prediction for the dow to be over 30000 by November is looking great. 27700 today 

Where a stock was says nothing about what it's worth today. Circumstances are ever changing. Stocks don't just go down because professionals are stupid or conspire to bring it down. Stocks usually go down for the following reasons: 1. It got ahead of itself and became overvalued. 2. We get a bear market and 90% of stocks drop. 3. The company runs into trouble whether of its own making or due to external factors. The best time to buy a beaten down stock is usually when we are emerging from a bear market (back in late March or the month of April). But if by now the stock has not budged, there is probably a reason (see 1 and 3 above). In those cases you have to be very, very careful before buying it. For if it was overvalued before it fell, it may still be overvalued even after losing 50%. Or, if the company is now in trouble financially due to a drop in business, it may remain in trouble. Who knows if the business will ever come back? 

Generally, I don't bottom fish as it is not my style. It can be done effectively, but it takes a lot of work. You cannot just look at the prior highs and assume it will ever go back there. Do me a favor: go look at all data charts of CSCO, INTC, C, WFC (I could list a host more). These stocks all topped in late 1999 or early 2000. To this day they have never gotten back to their old highs. Some of them are actually way below these highs. Ponder that before you think bottom fishing is a gimme profitable move. 

[HSFBfan]

2 minutes ago, DarterBlue said:

Where a stock was says nothing about what it's worth today. Circumstances are ever changing. Stocks don't just go down because professionals are stupid or conspire to bring it down. Stocks usually go down for the following reasons: 1. It got ahead of itself and became overvalued. 2. We get a bear market and 90% of stocks drop. 3. The company runs into trouble whether of its own making or due to external factors. The best time to buy a beaten down stock is usually when we are emerging from a bear market (back in late March or the month of April). But if by now the stock has not budged, there is probably a reason (see 1 and 3 above). In those cases you have to be very, very careful before buying it. For if it was overvalued before it fell, it may still be overvalued even after losing 50%. Or, if the company is now in trouble financially due to a drop in business, it may remain in trouble. Who knows if the business will ever come back? 

Generally, I don't bottom fish as it is not my style. It can be done effectively, but it takes a lot of work. You cannot just look at the prior highs and assume it will ever go back there. Do me a favor: go look at all data charts of CSCO, INTC, C, WFC (I could list a host more). These stocks all topped in late 1999 or early 2000. To this day they have never gotten back to their old highs. Some of them are actually way below these highs. Ponder that before you think bottom fishing is a gimme profitable move. 

Well yea there are companies that never recover from the collapse and they stay on the bottom forever 

When I opened up my robinhood account my free stock was sorrento therapeutics. It was trading at 3. Now its closing in on 18 or so. I sold it when I got because I had no idea what it was never heard of it

[DarterBlue]

12 minutes ago, HSFBfan said:

Well yea there are companies that never recover from the collapse and they stay on the bottom forever 

When I opened up my robinhood account my free stock was sorrento therapeutics. It was trading at 3. Now its closing in on 18 or so. I sold it when I got because I had no idea what it was never heard of it

You should have taken the time and effort to research the stock before you sold it. But if it was one share (I don't know how many share you get), it really does not matter in the grand scheme of things. 

[HSFBfan]

5 minutes ago, DarterBlue said:

You should have taken the time and effort to research the stock before you sold it. But if it was one share (I don't know how many share you get), it really does not matter in the grand scheme of things. 

No u get 1 share of a stock. So even if i held on i would have made 15 bucks 

Without the pandemic it might have stayed at 3. There are pandemic stocks that are doing better than they ever thought 

But apparently there is a deal coming soon and so I'm curious to see what happen

Tsa just hit the highest numbers during the pademic. American airlines has been sideways now for about 2 hours 

[DarterBlue]

Stocks closed mostly higher with the two NASDAQ indices lagging again. It was a bit like Friday, but the losses in the tech issues were not as severe on a broad basis. Volume increased on the NYSE but declined on the NASDAQ. That was better than if it had been the other way around. At the close, the range was from a loss of .49% on the NASDAQ 100 to a gain of 1.3% on the DOW. In general, industrials, and transportation stocks had great days; secondary stocks were also reasonably strong. On the other hand, technology stocks were weak. At the lows of the day, the two NASDAQ indices were down over 1.5%. How do I view the day? Neutral to slightly positive. Despite back to back losses, both NASDAQ indices are still comfortably above their 21-day moving averages. This has been the moving average at which they have found support. To get there the NASDAQ would have to lose an additional 300 points rapidly, or mark time for the next week or two. On the other hand, despite outperformance over the past two days, the other indices still have catching up to do. So, I am not even that worried about the rotation taking place at this moment. I am not sure it’s permanent and it could just represent the technology indices taking a breather.

 On a personal note, I lost $8,687 or 1.46% today. Talk about rainy days and Mondays, this was certainly one for me. At day close, I had 4 position down and 3 up. However, the losing positions swamped the losing ones as in three of the issues, the losing percentages were between 3 and close to 5%. The biggest loser was TTD followed by SHOP and ZM. NEM closed down over a percent. On the positive side of the ledger, LCII was my best winner gaining 1.5%. MDY and LOW had modest gains, but LOW hit another all-time high today. As described in an earlier post today, I sold my TEAM shares for a modest loss. Obviously this was disappointing, but the stock seems to have broken down an in this rotation out of tech it is unclear where the bottom is.

Of the positions I still own, ZM has essentially pulled back to its 50-day moving average, while TTD and SHOP bounced off their 21-day today. In the case of the former, any substantial break below current levels will be cause for serious concern. TTD, SHOP, LCII, LOW, NEM and MDY are a ways from any cause for concern at this point in time.

[imaGoodBoyNow]

3 hours ago, DarterBlue said:

Stocks closed mostly higher with the two NASDAQ indices lagging again. It was a bit like Friday, but the losses in the tech issues were not as severe on a broad basis. Volume increased on the NYSE but declined on the NASDAQ. That was better than if it had been the other way around. At the close, the range was from a loss of .49% on the NASDAQ 100 to a gain of 1.3% on the DOW. In general, industrials, and transportation stocks had great days; secondary stocks were also reasonably strong. On the other hand, technology stocks were weak. At the lows of the day, the two NASDAQ indices were down over 1.5%. How do I view the day? Neutral to slightly positive. Despite back to back losses, both NASDAQ indices are still comfortably above their 21-day moving averages. This has been the moving average at which they have found support. To get there the NASDAQ would have to lose an additional 300 points rapidly, or mark time for the next week or two. On the other hand, despite outperformance over the past two days, the other indices still have catching up to do. So, I am not even that worried about the rotation taking place at this moment. I am not sure it’s permanent and it could just represent the technology indices taking a breather.

 On a personal note, I lost $8,687 or 1.46% today. Talk about rainy days and Mondays, this was certainly one for me. At day close, I had 4 position down and 3 up. However, the losing positions swamped the losing ones as in three of the issues, the losing percentages were between 3 and close to 5%. The biggest loser was TTD followed by SHOP and ZM. NEM closed down over a percent. On the positive side of the ledger, LCII was my best winner gaining 1.5%. MDY and LOW had modest gains, but LOW hit another all-time high today. As described in an earlier post today, I sold my TEAM shares for a modest loss. Obviously this was disappointing, but the stock seems to have broken down an in this rotation out of tech it is unclear where the bottom is.

Of the positions I still own, ZM has essentially pulled back to its 50-day moving average, while TTD and SHOP bounced off their 21-day today. In the case of the former, any substantial break below current levels will be cause for serious concern. TTD, SHOP, LCII, LOW, NEM and MDY are a ways from any cause for concern at this point in time.

Any blue chip used car stocks ? 

[DarterBlue]

Just now, imaGoodBoyNow said:

Any blue chip used car stocks ? 

Maybe Carmax. But they sell new and used. Carvana is a new, NASDAQ type with more upside potential but a lot more risk. 

[HSFBfan]

@DarterBlue

GE is about to pass 7 

[DarterBlue]

2 hours ago, HSFBfan said:

@DarterBlue

GE is about to pass 7 

Just be calm. Don't cheer it on. Learn to look at and read charts. That's the best favor you could do yourself. 

[HSFBfan]

26 minutes ago, DarterBlue said:

Just be calm. Don't cheer it on. Learn to look at and read charts. That's the best favor you could do yourself. 

Have no idea how to read charts 

[imaGoodBoyNow]

38 minutes ago, HSFBfan said:

Have no idea how to read charts 

@DarterBlue what you say makes sense to normal people, but we’re rookies for most part, today I’m gonna learn what charts are and how to use them,,

 

@HSFBfan Robinhood has the worst chart selection out of all the platforms you can use

[HSFBfan]

Just now, imaGoodBoyNow said:

@DarterBlue what you say makes sense to normal people, but we’re rookies for most part, today I’m gonna learn what charts are and how to use them,,

 

@HSFBfan Robinhood has the worst chart selection out of all the platforms you can use

I joined webull

 

[imaGoodBoyNow]

7 minutes ago, HSFBfan said:

I joined webull

 

It’s crazy Webull let’s you trade from 4am to 8pm

[HSFBfan]

3 minutes ago, imaGoodBoyNow said:

It’s crazy Webull let’s you trade from 4am to 8pm

as it should premarket to after hours

[imaGoodBoyNow]

7 minutes ago, HSFBfan said:

as it should premarket to after hours

So why Robinhood it’s on 9 to 6

[HSFBfan]

Just now, imaGoodBoyNow said:

So why Robinhood it’s on 9 to 6

Have no idea. I guess they only trade during the trading day which goes from 930-4 than throw in 2 hours of after hours which goes to 8. So robinhood kinda screws u

[HSFBfan]

Mexico to conduct late-stage trials for China, US COVID-19 vaccines

https://m.jpost.com/breaking-news/mexico-to-conduct-late-stage-trials-for-china-us-covid-19-vaccines-638240

[DarterBlue]

22 minutes ago, imaGoodBoyNow said:

@DarterBlue what you say makes sense to normal people, but we’re rookies for most part, today I’m gonna learn what charts are and how to use them,,

 

@HSFBfan Robinhood has the worst chart selection out of all the platforms you can use

There are many free charting services out there: BigCharts.com is one. Another is FreeStockCharts.com. You both need to understand how to use charts and how to interpret them. All traders use charts. If you don't you will always be reacting on gut instinct. Now if you have been trading for 10 years, maybe you can get by using gut instinct because your gut instinct after that much experience is educated. But if you are just starting out, your gut is likely to be wrong more than 75% of the time. If you lose 75% of the time even if you make more from your winners, you will have a very difficult time making money. @HSFBfanplease take note of this. 

[HSFBfan]

1 minute ago, DarterBlue said:

There are many free charting services out there: BigCharts.com is one. Another is FreeStockCharts.com. You both need to understand how to use charts and how to interpret them. All traders use charts. If you don't you will always be reacting on gut instinct. Now if you have been trading for 10 years, maybe you can get by using gut instinct because your gut instinct after that much experience is educated. But if you are just starting out, your gut is likely to be wrong more than 75% of the time. If you lose 75% of the time even if you make more from your winners, you will have a very difficult time making money. @HSFBfanplease take note of this. 

I'll check out the sites 

And ill try to understand them 

But honestly this just seems like another job and it just sucks the fun out of it 

The whole world no matter your interest just seems like another job and that is why there is no joy 

[DarterBlue]

18 minutes ago, imaGoodBoyNow said:

It’s crazy Webull let’s you trade from 4am to 8pm

 

8 minutes ago, imaGoodBoyNow said:

So why Robinhood it’s on 9 to 6

Personally, for those just starting out, I would advise you only trade from 9:30 am to 4:00 pm. There are two reasons which I will list below:

1. Pre and post market activity is very thin. The pros can basically pick your pockets with bad fills. 

2. When you are starting out, instead of trading 8 or 10 hours of the day, you should be using the mornings and evenings to do reading and analysis.

I am going to be honest with both of you: Unless you change your habits this game is not for either of you!

[HSFBfan]

Bigcharts is terrible. There's nothing there 

 

[DarterBlue]

2 minutes ago, HSFBfan said:

I'll check out the sites 

And ill try to understand them 

But honestly this just seems like another job and it just sucks the fun out of it 

The whole world no matter your interest just seems like another job and that is why there is no joy 

For me it's not a job because I get a kick out of outperforming the pros. If you view it as a job, leave it alone unless you are a very diligent worker.