Technical traders about to shine in this market
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Misc Stock Market
- Thread starter ForsythSnow
- Start date
Broken024
Member
What’s the move buffet?
Yep, seen a lot of people resigned to the fact to make money you have to get in and out. “Investing” could be tough for a while. Swing trading will be tough. Scalping 30-50 cents could be a lot of plays.
Jon
Member
For people who don’t say trade like myself, mixing some recovery stock dips and mid cap tech dips for 1yr+ holding will probably do very well. Not a lot of 100%+ runners in the morning anymore, which will probably help tame markets tbh. Maybe folks are using their second stimulus differently.
Turn away from your screens today. We’ll try again tomorrow.
I’m buying beanie babies and Pokémon cards
snowlover91
Member
OTC market going back to how it used to be; daytrade. Only stock I’m holding long term is IALS right now since it’s a moody play and merger will hit anytime. Otherwise I’m having to flip stuff now, people just aren’t holding like they were in December and January so sustained runs are pretty much done these days.
Probably breaks below $10 today.... I'll be a buyer, they are maneuvering the board, only weeks if not days away from the A-sample milestone. Still think this is a good investment
Broken024
Member
---- me boys. I'll be eating cat food going forward.
It's honestly good to see it move with its sector, even though it is more volatile. If everything in its sector was going up and it was tanking, I'd be far more concerned. It'll be interesting to see what happens with the test results.
Jon
Member
BTC looks to have broken recent support and is below the 50 day SMA. Looks to move lower...
I am wondering if institutions are keeping large cap tech afloat until quarter ends tomorrow. AMZN and APPL, along with host of others look like they are about tumble.
Whats going to trigger large cap tech to approach all time highs in the near term? ?
Whats going to trigger large cap tech to approach all time highs in the near term? ?
Another wild day. You have to think one day we’ll get a similar move but there’ll be no buyers waiting.
GeorgiaGirl
Member
If I were playing the bearish side in the Dow, or bearish in general, I’d be so, so freaking mad after today. It looked like it could break down which would have meant that both the small caps move, and the Dow move from early March was a fake breakout and then put in a strong reversal, with it apparently on volume too. It’s likely not ready to go again, but it has a decent shot at confirming March as a monthly breakout for it. Seasonality favors it through April too, and then it’s apparently weaker.
I think that what will be on the menu after OPEX in April will be a broader market correction. I have my doubts that the Dow paces at 50%+ from early November last year all the way through to early November later this year. What can happen is it could very well jump 20-25% for 2021 (admittedly, it's just above the pace for that, so maybe if it is jumping that much, it will lol).
I think that what will be on the menu after OPEX in April will be a broader market correction. I have my doubts that the Dow paces at 50%+ from early November last year all the way through to early November later this year. What can happen is it could very well jump 20-25% for 2021 (admittedly, it's just above the pace for that, so maybe if it is jumping that much, it will lol).
Dow chart is interesting. It’s due for a correction but in this new market maybe it keeps chugging along.
Do any of the regular posters in this thread invest for the long-term a sizeable % of their assets in a broadly diversified basket of non-penny stocks, possibly including some mutual funds, in addition to or even instead of mainly doing short term trading? I know it sounds boring but that's what I've done for several decades and I've been satisfied with the results overall. It kind of takes the pressure off since there are usually no decisions to make. Just ride it out with a longterm bet on broad economic growth, which has been a good bet historically.
VegasEagle
Member
I do. It is stressful by sure.
GeorgiaGirl
Member
I haven’t really traded. I actually thought today would potentially become a good day to scalp even yesterday as some of the moves (ahem, ARKK) were already getting too violent again, but nope, too much of a baby.
I am getting comfortable with a lot of what I own (but yes, I can also trade if I wanted). I made some major patience mistakes last year, so this year the goal is to at least try not to make the same mistake.
Broadcom turned out to be the best move for me last year and that was because a Morgan Stanley advisor suggested it to my dad and it’s an account I can’t look at (this move was made in January). I mostly did a good job considering late February/March of last year, but there are some moves I did and didn’t do last year that I regret.
(yes, I made the decision on my own after I heard about it, but I had never heard of Broadcom before that phone call)
Jon
Member
That’s all I do.
I played pink sheets when I first got started over 5 years ago. It’s not sustainable but it’s good for some tough lessons. Study after study has shown only 20% of penny traders make any money at all annually on their trades.
“According to an SEC study, the median penny stock investor holds their stock for 16 days and realizes a return of -13.4 percent.”
“The median penny stock returns -37 percent per year.
The average penny stock returns -27 percent per year.
Penny stock returns experience positive skew, but the mean is strongly negative. This means that a few penny stocks are big winners, but the gains from the winners are not nearly enough to cover the losses of the losers.”
Sure you might get up 500% and sell and make $10k profit. But then you throw that in something else and lose half, now you have $5k profit. Rinse and repeat. And a 10k profit is generous in this example. Lol.
I’m a huge advocate for long term holding. For these reasons:
1) Tax benefits if you hold and sell stock longer than 1 year
2) EVERY stock I’ve made a substantial amount of money on I’ve held long term
3) less stressful and if your stock drops 30% in a correction you can average down without fear of the stock actually going to 0.
Penny stocks appeal to people who like gambling and that’s all it is. We all know why casinos make money...the house wins.
And don’t get me started on options...
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