Technical traders about to shine in this market
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Misc Stock Market
- Thread starter ForsythSnow
- Start date
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Deleted member 609
Guest
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
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Deleted member 609
Guest
---- 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 $5k profit. Rinse and repeat. And a 10k profit is generous in this example. Lol.
I’m a huge advocate for long term holding. For these reasons:
1) Tax benefits if you hold and sell stock longer than 1 year
2) EVERY stock I’ve made a substantial amount of money on I’ve held long term
3) less stressful and if your stock drops 30% in a correction you can average down without fear of the stock actually going to 0.
Penny stocks appeal to people who like gambling and that’s all it is. We all know why casinos make money...the house wins.
And don’t get me started on options...
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Thor
Member
I think a lot of us have our blue chips that make up a good portion of our holdings. I just personally don't talk about them as much because they are stable and grow gradually. I redid my portfolio during the crash last year, gave myself a lot of comeback plays I wouldn't touch for a few years. I went heavy in Boeing, Disney, Delta, Southwest, others. I have 2-3 energy stocks. I've owned Tesla for years. A few Techs, kind of a variety of others. I play the pinks because they are interesting everyday. I don't put large chunks of money into a pink stock because you don't need to and it's not worth the risk(to me). You really only have to hit on one and you are up lifetime. I had my big hit last year, I immediately removed that money from my trading account. The average person won't make money long term in the pinks, just like the average gambler won't at the tables. But personally I've never walked up to a table with 200$ and came out with 10s of thousands of dollars, so I guess I don't consider this pure gambling when I have the ability to research before and after I buy.
snowlover91
Member
My long term retirement is invested in mutual funds that are well diversified. RGAGX and FOCPX are a few examples of mutual funds I have invested in with long term success.
Short term though I do penny/otc stocks mostly due to the gains they offer. If you know what you're doing you can usually make returns in 1-2 days that it would take 2-3 years to make in big board stocks or mutual funds. Last year my realized profit was almost 17,000% from trading penny stocks, life changing for me as I became completely debt free and have enough to buy a house with cash now. For someone who isn't even 30 years old yet, that's a pretty good place to be. They're not for everyone though and very risky, takes years of experience to learn how to profit from penny stocks. I'm 100% against gambling, never have and never will play the lottery or other things like that. To me all investing is a measure of risk vs reward, knowing what you're doing and what generally moves a stock up/down. Pennies are not for long term holds usually, especially with the recent market shift, but they are great for daytrades and flipping.
I loathe everything about $GME. Just horrible earnings this week and the call was even worse. I wanted to like their turnaround story but they gave nothing. No guidance, no Q and A, vague bullet points on the future. They slipped a note on the upcoming offering buried in SEC filing.
This is just for my IRAs. I had done nothing but mutual funds for the past 20 years and have done quite well. The past decade I have been heavy in tech/growth mutual funds and they have obviously done quite well. I started to dabble in some stocks this year but it's been so choppy I literally went 80% cash yesterday in my IRA's. I met with an investment advisor back in January and she encouraged me to move out of tech heavy funds and into others. I am going to take a couple of weeks and re-think how I invest in my IRA's moving forward.
GeorgiaGirl
Member
Odell Beckham apparently has a SPAC.
LOL
LOL
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Deleted member 609
Guest
I just blindly follow Jimmy into penny stocks. So far I've followed him into 3 and lost money every time. Waiting for another excellent recommendation. 
Thor
Member
Yeah im way over it too now, even as somebody who made good money on Gamestop. I bought it super low as a people will be home and playing video games buy. At 40$ I thought I had stole money and was very happy with myself, held a few shares for the stupid ride. But at this point I'm paying the price for it now. The same MM's who lost millions and millions shorting GME are now shorting the hell out of my Penny stocks the last few months. They have billions and can just walk the prices down and make free money. They know down there they won't get called out either.
snowlover91
Member
They've also attacked some of the biggest runners, like PVDG, ILUS, OZSC, etc stocks that have tons of liquidity and have run a lot. I've noticed they're not messing with moody plays, stocks with low liquidity or that haven't run much (like WRFX). The moody plays aren't exciting but man they are so lucrative.
snowlover91
Member
I just blindly follow Jimmy into penny stocks. So far I've followed him into 3 and lost money every time. Waiting for another excellent recommendation.
You need to try one of the Moody plays out there. IALS is closest to merger, then AWGI & SENY will be the next two. Moody is the real deal, he takes penny shells with attractive share structures and reverse merges a real company into them. NXMH, KAVL are a few tickers that he completed the process on and are now quite large companies. You have to be patient and hold for months but when the process finally completes it is usually worth it.
Holy FUBO! $400 late day scalp just paid for my anniversary dinner tonight. Limit order filled and I almost bought the exact bottom ? I'm having fun again
Bro WHAT DID I JUST WITNESS!?
Mother of all melt ups into the close. Incredible
Mother of all melt ups into the close. Incredible
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Deleted member 609
Guest
No worries Jimbo. We can lose it all + some on Monday.
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Deleted member 609
Guest
Sir, that is called a shrek dildo.
?????
GeorgiaGirl
Member
The Dow was near 32000 and threatening to test the idea of breaking down at 11 AM yesterday, 30 hours later and it's jumped 1000 points and put in a record closing high.
This index has just been destroying the bears since it poked under 30k a few months ago.
This index has just been destroying the bears since it poked under 30k a few months ago.
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Deleted member 609
Guest
????
Jon
Member
17,000% you’re literally the 0.0001% of the penny stock traders. Why don’t you have a YouTube selling classes by now? Your kinda story is what gets people motivated and they lose their ass, but good for you. Lol
snowlover91
Member
Lol I’ve been trading penny stocks for 15 years man, I’ve learned the hard way. Twice I turned $300 into 40k when I first started out then lost it all again from being greedy and dumb choices.
The reason most people lose money in the penny market is they don’t take the time to study the trading patterns, get greedy, and don’t take profit when they have it. I know because when I first started out I lost a lot of money that way and was greedy.
With time by talking to people who were successful I learned what trading strategies work, what catalysts to look for, and how to play it. It’s tougher than the big boards for sure, but if you take the time to learn how they work you can do much better in penny stocks.
The Q’s were mere seconds from really giving way and then tutes stepped in to save the day. Now, was that to preserve there quarter end or was that a sign that large cap tech is back. $309.8 had broken, it was gone. People were packing it in and preparing for the worst and then at a snap of a finger it all changed and now everyone is a bull. SPY back close to ATH’s. What correction....
Things that make you go hmmm
