OFFICIAL STOCK MARKET AND ECONOMY THREAD VOL. A NEW CHAPTER

[johnnyredstorm]

Bored so I'm doing some charting.

Whatever the market decides to do, it's good to have two plans.

The upside pivot in SPY for the next leg higher is 212. If that holds, 213.64, 215.58 and 219.53 are the next targets. If it doesn't hold Friday's lows, downside targets are 204.26, 201.16, 199.56. Until 199.56 is breached and becomes resistance, we're in just a chop zone. Once that area becomes vulnerable, an actual correction is possible. Could see 187.22, 181.29, 175.36 or worse.

Me personally, I'm just a day trader so I'll go where the trend is, but I'm not gonna get too concerned until my charts tell me to. Just think we're in a chop phase until the market says otherwise.

AAPL is in chop territory. If it holds 115.52, 117.80 is possible, but I don't like the candles that were printed the past few days. Still think 111.50 and 105.19 could be in the cards before it changes trend. Wouldn't mind taking a long at 105.19, but ya gotta be smart cause if that doesn't hold, it's going to 99. If you want to build a position in this one, be patient and strategic with the way you add in. Losing 121.55 really broke the chart, that could be the confirmation pivot if it can get over and hold that level for a new up trend.

FB is gonna provide some nice volatility for day traders. Gonna be choppy and a headache at times as well. 97.12 is the upside pivot for a potential 100 roll. Gotta break through and hold that. 90.12, 88.03 are your next support levels. 88.03 could be a decent dip buy if it holds, if not, 84.94, 81.74 or 76.56 could be in play. I don't think it gets that low unless the market really takes a dive. FB is a legitimate company and I've been noticing more Instagram ad's lately.

TWTR, I really have nothing to say. 25.56 is on tap unless some bs rumor comes out and gives it a deadcat bounce. I do want to own some of this name long term, but I'm really only running a day trading account so Idk if I'll be able to do that for the time being. If I had the powder, I'd consider starting in small at 25.56, but I'd only use money I'm comfortable losing completely since it would be a long term outlook and technically, this is a falling knife.

DIS I mentioned that 106 level a few days back, bounced nicely after shaking out beneath it briefly. 110 could be some short term resistance. Would like to see it hold 107 moving forward for an eventual move back to 117.30. If the market makes new highs and doesn't correct, this potentially could see 133 by next year. Need a strong market for that, however.

BABA looks heavy. 79 becomes resistance, you can expect this one to test those all time lows. If 79 holds, 81.12 and 83.44 are possible.

SBUX has some major resistance at 59.14. It might chop around and break through eventually. If it does and the market is strong (makes new highs) this could go to 72, but you need a strong market for that to happen. 54.91 and 51.56 are your next support levels.

Be smart, be patient, always manage your risk and be flexible. Can always exit and re-enter a trade. Have a plan and respect it. This market can go two ways and we're in the process of figuring out which way that is. Don't fight the trend and get hopeful, know your max pain/risk, follow your plan and flourish. Take profits when you can, raise stops, etc. Nothing wrong with trading around a core either if you have a long-term/bigger picture outlook.

 

[johnnyredstorm]

http://www.investorsunderground.com/raw-footage-aqxp-squeeze-float-rotation-and-reclaim/

 

[youngpablo]

Hey wats up brethren.... New to the thread ...I own MSFT PLAY RAD SNY (all my picks which have been doing awesome) and JNUG a gold etf...i know i know R.I.P to me...but that's what happens when you dont follow your game plan ( it was my friend that told me about it and ive held it for too damn long, now im in the hole bcuz of it) but I refuse to believe that gold wont make a Comeback within the next 2 months or so.

 

[degenerate423]

I refuse to believe that gold wont make a Comeback within the next 2 months or so.

Gold will definitely make a comeback, but I think it'll hit $900 before it rebounds.

I'm expecting a lot of companies to start taking hits, so I think now is the time to short, if anything.

 

[based mod]

I refuse to believe that gold wont make a Comeback within the next 2 months or so.

Gold will definitely make a comeback, but I think it'll hit $900 before it rebounds.

I'm expecting a lot of companies to start taking hits, so I think now is the time to short, if anything.

Not only that, but those leveraged ETFs aren't something you buy and hold

 

[johnnyredstorm]

yep they're basically like a weekly option full of time decay.

 

[noskey]

TTWO got me all sorts of questioning my strategy. I want to close this Put and leave my call option open, and bank on them beating earnings by a wide margin, but I can't bring myself to bank on earnings causing a move after VLO earlier in July.

 

[johnnyredstorm]

this market is drunk

 

[youngpablo]

Not only that, but those leveraged ETFs aren't something you buy and hold

tell me about it b...and my boy (he's a stock broker) the one who put me on to it tells me about it like a month ago. Lesson learned

yep they're basically like a weekly option full of time decay.

Yep he told me the same thing...i just wished he wouldve let me know before hand. Lesson learned



But gold did pop today ....
Ye shrug

 

[youngpablo]

My game plan is basically this:
Get on the IPO hype train....all company's ive picked on there ipo beggining with GPRO have done crazy in there first 3-6 weeks. Just get on get off a month later. Most these company's arent really worth much at the end of the day but that hype is real at the beggining.


And buy and hold company's long that i consider IMO to be fundamentally sound and are selling for the low (word to Bill Ackman). Ex. Bought MSFT @45.89 PLAY @17.50 RAD @5.25 SNE @19.79

 

[lazyj10]

Unless you are getting an allocation of the IPO at the pre-market price, I think you're going to learn a few lessons along the way if that's your strategy.

 

[slighted]

Unless you are getting an allocation of the IPO at the pre-market price, I think you're going to learn a few lessons along the way if that's your strategy.

+900000

How's everyone feel about HAIN?

 

[goldenchild9]

Sold my GOOGL $670 call options for $3.90 yesterday, they're worth $34.50 today.

lol

 

[johnnyredstorm]

i know that feel

 

[goldenchild9]

Trading and investing is something else, man.

I'm determined to keep getting better, though.

 

[johnnyredstorm]

for me the biggest issue i battle is discipline and patience. i either get into trades too quickly without a defined edge (high low, lower high, etc) or i get out of trades too quickly without my targets or stop being hit.

I'm down $100 now from when i re-funded my day trading account. just been sloppy/impatient. had it doubled initially and gave it back

least i know what needs to be improved and i gotta work at it to make this happen. i liken it to a hitter at the plate lunging on the first pitch and popping out to the catcher instead of working the count and driving the ball. gotta just be smarter with entries and exits and avoid chop and 50/50 bs.

 

[dathbgboy]

I'm still learning when to get in. I got in on a few shares of SBUX, had I waited a day I would've gotten in at a better price. The price wasn't too bad but it still hurts

I switched my CNN Money account to Sig Fig and it's telling me that I should diversify into emerging markets and foreign markets since I'm vested 100% in the U.S. I don't mind doing that but most of those markets seem to volatile right now. Even w/ the bonds, I feel like the moment I get in, the interest rate will be raised.

 

[noskey]

If you're worried about entry points, don't be. You'll never get them right 100% of the time. Just look into value investing, learn valuation, and build a strategy tailored to what kind of return you want based on what you believe the company is worth. I tend to cross my valuation results with charts to see if the entry timing looks advantageous, or if it's worth waiting on. Candlesticks are good for this.

Easier said than done, but it can be a good learning experience and help with when/where you enter into positions.

And don't beat yourself up if the stock dips lower than your buy price. You expect it to rise anyways, right?

 

[dathbgboy]

If you're worried about entry points, don't be. You'll never get them right 100% of the time. Just look into value investing, learn valuation, and build a strategy tailored to what kind of return you want based on what you believe the company is worth. I tend to cross my valuation results with charts to see if the entry timing looks advantageous, or if it's worth waiting on. Candlesticks are good for this.

Easier said than done, but it can be a good learning experience and help with when/where you enter into positions.

And don't beat yourself up if the stock dips lower than your buy price. You expect it to rise anyways, right?

Of course, that's why I'm like "Dang" and just keep it movin I'm still working on learning valuation and utilizing the eps and p/e ratio and things like that. I understand it a little bit but need to learn more. Not trying to buy overvalued stock though I've been doing fairly decent avoiding them. I tend to avoid the hype stocks and buy what makes sense.

 

[noskey]

I'm sure someone in here can recommend a good valuation book. I just use the one I had in college for reference, so I'm no help there unfortunately.

Don't discount the hype companies alltogether. Some are useful and can be played as a short term trade. Look at the ride Tesla's been on. GoPro, Shake Shack, etc. Just need to drop them when you're satisfied with a gain, and don't look back.

 

[noskey]

Man **** China's economic and currency manipulation. RIP Apple. Where the bears at?

 

[based mod]

AAPL pls

 

[rafabio]

http://thehill.com/policy/cybersecu...rge-hackers-in-massive-insider-trading-scheme

 

[based mod]

 

[dathbgboy]

I got $155, what can I short?