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Stock Market

Thor

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It looks like all the new OTC traders who jumped in back in December/January are exiting now and taking profits. The quality plays are holding up fairly well but yeah it's ugly right now. I've been flipping stuff, buying on the dips and selling on the pops and still holding PVDG and AWGI.
Yeah im pretty loaded on those and have had some decent day trades, but it's amazing to watch the entire market turn on a dime, and all the charts look similar, it's behaving a lot more like the big boys. All I can say is 1400$ stimulus time....we all want to be loaded up for that madness. Probably why the SEC is getting ahead of it.
 

KyloG

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The cruises are saving my swing trade account. I opened a $CCL $20/$30 July call spread back in January for $2 and I opened a $NCLH one last week for June $30/$40 for $2.50.
 

GeorgiaGirl

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Fade. All. The. Tech. Rips. Until. The. QQQ. Sees. 303ish.

Edit: Although I will add, it also has a head and shoulders pattern that will likely fake people out eventually.
 

KyloG

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Trying $MVIS again. 1000 shares at $14.70. It worked well last week when it popped to $18. Don't let me down!

Chart still looks OK with how beaten up the market has been. A close below $15 cold really send this down though.

Screen Shot 2021-03-04 at 8.44.57 AM.png
 

metwannabe

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Trying $MVIS again. 1000 shares at $14.70. It worked well last week when it popped to $18. Don't let me down!

Chart still looks OK with how beaten up the market has been. A close below $15 cold really send this down though.

View attachment 77779
Unless major news is announced very soon, I think this has one more massive drop.... as you noted it really has held up well considering the markets are taking a beating but that only can only last so long without a significant catalyst.
 

KyloG

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Unless major news is announced very soon, I think this has one more massive drop.... as you noted it really has held up well considering the markets are taking a beating but that only can only last so long without a significant catalyst.
Sold half at $15.50 and will sell the rest at $15.75 or $15.30....whichever comes first. I am in scalping mode. I bought $STIC at $11.40 in PM too and sold that $11.80. In and out. I think more pain in March for the market.
 

Rain Cold

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Yep going to be a bloodbath in some of these small names. Mvis probably going back into the single digits. Forget about Marijuana plays for a while. Going to get really ugly probably. But it will present some good buying opportunities.....hopefully.
 
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Yep going to be a bloodbath in some of these small names. Mvis probably going back into the single digits. Forget about Marijuana plays for a while. Going to get really ugly probably. But it will present some good buying opportunities.....hopefully.
Any sales I should be looking for today? Looking to establish some some solid long growth positions before the end of the week.
 

GeorgiaGirl

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Serious chance you're going to see smoke about YCC today in a couple hours, even if they don't actually really want to do it and from the things I see, many will be ****ed when announced (there are many short treasuries and it looks like in tech, the thoughts that it was retail that was net short was likely wrong).

But if not, this here is an absolutely massive market risk:

Edwin Dorsey on Twitter: "ARK Invest trades just posted. https://t.co/kZVTdP6BlW" / Twitter

I haven't looked since this weekend but they have to be just about out of all of their big caps, and what's going to happen if everything keeps dropping? They have to sell Tesla and the mid/small cap stuff. Nuclear bomb type stuff.
 

KyloG

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Back in MVIS at 13.90. Going to keep on scalping .30-.50 pops. Plus someone just bought 71k shares.

Screen Shot 2021-03-04 at 10.31.28 AM.png
 

KyloG

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I will say this about MVIS...the mm's are highly manipulative. Tough to get orders filled...they yank the ask up anytime a bid is placed. I had to place stop/buys above the ask when it dipped.
 

KyloG

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Out of MVIS at $14.50 and closed my other bounce plays (FCEL and STIC). Done for the day...
 

GeorgiaGirl

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I think we're close to this tech stretch being over based off this thing that I saw trending:

Screenshot (66).png

Now, let's put on our thinking caps...do we really think that you're going to see a trend the way many are seemingly starting to expect? That answer is no lol so if this isn't all she wrote in tech, I'd be looking for this morning to have been a selling climax (find out by the end of the day). Still could see QQQ at 303 though and it wouldn't surprise me, then it'll likely be a couple months and we'll find out it's back at its old ATH with not as much attention being paid.
 

KyloG

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I'm worried we drop all the way to $266 on the Q's. That's another 15%. That would suck.

Screen Shot 2021-03-04 at 11.20.45 AM.png
 

KyloG

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Looking at previous big corrections...2018 we had a 30% correction and then bounced hard. If we had a similar correction this go around that puts us at $293 on the QQQ which is last summer high weekly support.

Screen Shot 2021-03-04 at 11.26.30 AM.png
 

GeorgiaGirl

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When you have all bears.

That usually does not work out, which is why I'm looking for this to slow down soon, and believe it or not, we're getting to where it's mostly bears already.

Although it remains incredibly strange that the Dow has essentially gone absolutely nowhere after the first week of February. As it took a very hard shot in September itself and here it is, outside of a false breakout, just hanging around 31000-31500 and bouncing around there for weeks pretty much. Does it need an overdue move lower itself? Or is it just trying hard to correct via time?
 
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