OFFICIAL STOCK MARKET AND ECONOMY THREAD VOL. A NEW CHAPTER

[johnnyredstorm]

This is exactly what's going to happen for you new people:

SPY is going to hit 380 today, good stocks will start to be on sale (probably a multi day sell off)
AMC and GME may go up a little higher
You're gonna think you're doing it
AMC and GME start to go lower
You're going to buy more
Market goes down 10%, great growth stocks pull back 15-30%
You're going to ignore the pullbacks in great growth stocks
Pro's buy the pull back
You average down again
Market reverses
AMC and GME are long term fading
You blew and up and missed the only big correction of the year

Don't be a fool. Buy and hold quality.

 

[iheartboost]

They won.

 

[igotthatstock]

My orders won't even fill at this point. The market is going to tank today. Yet another instance where I'm going to lose because I was so risk averse. SMH.

 

[johnnyredstorm]

I'll probably buy more ROKU around 328 if it happens, Disney 155, SE around 202, PINS 60 and 44, TDOC from 245-255, TWLO 325, 285, CURI 15.85, 14.25, IPOE 18.20 and lower, FTCH 45, and maybe FVRR needs to DD, NVTA 47. I'll set orders and forget them.

realistically the only smart way to have handled GME is the way noskey did

 

[ShoeGod1423]

I agree with you that the market are frothy but with biden trying to get another what 1.9 trillion passed, rates staying low for the foreseeable future, you think it's gonna really be in the next month or two? I feel like it's gonna happen but I think with all the stimulus still getting passed and vaccine roll out ramping up might not be til later like fall/winter for a BIG sell off.. I can see a few little ones between now and then though. Thoughts? johnnyredstorm

Only thing Im thinkin that would really change that is if these vaccines get in 150 million arms and covid numbers are still high or one of these variants isnt affected by the vaccine.

 

[johnnyredstorm]

March and October are usually sell offs. Size doesn’t matter to me. It needs to happen. I’m prepared if it does. I’m still very long if it doesn’t. I’m ok with that.

 

[tupac003]

Wake up and see GME at 255.

This is madness.

 

[igotthatstock]

Wake up and see GME at 255.

This is madness.

It was at $340. I am so bitter right now. AMC is above $12. I am so bitter right now.

 

[shorty doo wop]

The way amc running right now reminds me of crypto 2017 lol

 

[johnnyredstorm]

It was at $340. I am so bitter right now. AMC is above $12. I am so bitter right now.

If you’re bitter for missing a short squeeze on garbage can your entire perspective is off. Focus on good companies, good set ups and good opportunities. That bitter attitude is going to put you on tilt, into revenge trading, and on the path to a serious drawdown.

 

[southernhospita]

Had puts for $384 on SPY yesterday that I sold for profit who would have know the market was about to get punished today

 

[tkthafm]

johnnyredstorm Giving great advice for all the beginners here. Pay close attention.

This market seems like all fun and games right now (all thanks to the FED) - Just don't be caught dancing when the music stops.

And it will stop.

 

[Scarborough]

is wealthsimple a good app to use for trading? im seeing people talk about pre market but that doesnt show on WS

 

[johnnyredstorm]

Going to nibble back a little nvta. Ideally load range is 45-40. I sized in too quickly yesterday and rather build out slowly on any adds. Have limit orders set on the stocks I mentioned except TWLO. Hopefully they hit over the next two weeks.

 

[ksteezy]

The way amc running right now reminds me of crypto 2017 lol

And lots of us know first hand the sinking feeling allllll too well when we got caught with our pants down....lots more little fishes gonna end up hurt than the handful of whales that will....that’s the sad part

 

[southernhospita]

With GME premarket spike being cut in half folks are going to run to the door come market open

 

[jrp44]

Might finally start to start something in tdoc and pton

 

[igotthatstock]

If you’re bitter for missing a short squeeze on garbage can your entire perspective is off. Focus on good companies, good set ups and good opportunities. That bitter attitude is going to put you on tilt, into revenge trading, and on the path to a serious drawdown.

I am on tilt. I am going to have a bloody day that would not have even been on my radar if I sized in on AMC last week at $2.80 or whatever it was. When GME was sitting there at $80 and the short float was still substantial, I should have made a $100k bet. Gamestop at $20 is borderline a joke, but we are all in this game to make money. A dollar today is worth a hell of a lot more than a dollar 5-10 years from now. I could have changed the trajectory of a lot of things if I had a little risk tolerance.

All that is to say, I'll never go in with size because I'm a *****.

 

[ShoeGod1423]

is wealthsimple a good app to use for trading? im seeing people talk about pre market but that doesnt show on WS

I personally like Webull. App is nice with the layout and easy as hell to use and quite a few different indicators, you can chart, and you can buy/sell PM at 4 am est and AH til 8 pm est. Just my opinion tho i also have shawb and TD too if I need anything Webull doesn't have.

 

[johnnyredstorm]

375-370 put spread for next week (if the market doesn't blow it up at the open) and 360-355 put spread in SPY for next week and the week after look juicy for a hedge. 355 is my short term downside target, 290 is my serious correction target. hedging accordingly at the open.

 

[johnnyredstorm]

I am on tilt. I am going to have a bloody day that would not have even been on my radar if I sized in on AMC last week at $2.80 or whatever it was. When GME was sitting there at $80 and the short float was still substantial, I should have made a $100k bet. Gamestop at $20 is borderline a joke, but we are all in this game to make money. A dollar today is worth a hell of a lot more than a dollar 5-10 years from now. I could have changed the trajectory of a lot of things if I had a little risk tolerance.

All that is to say, I'll never go in with size because I'm a *****.

Nah, you could have changed the trajectory of your life if you had perspective and learned how to invest instead of gambling $100,000 for a cheap come up. Learning how to create long term wealth > getting lucky on an epic squeeze. LEARN.

 

[antidope]

• Four Years of School
• Five Series Licenses
• CFA Charter

All this learning and my boys who just started investing this year are destroying my performance. WHAT A TIME TO BE ALIVE.

 

[tay1]

I mean you can long term invest and play this meme stock game “responsibly”

 

[igotthatstock]

• Four Years of School
• Five Series Licenses
• CFA Charter

All this learning and my boys who just started investing this year are destroying my performance. WHAT A TIME TO BE ALIVE.

Sitting at a top b-school, in finance, watching this **** like I'm sucking on a lemon. And it's even worse because I have (had) the money to speculate.

My cousin who barely made it out of undergrad took his bag from PENN and hit GME. He's traded two stocks on RH. That is the extent of his experience. Sitting on $1.5 milli.

 

[johnnyredstorm]

I mean you can long term invest and play this meme stock game “responsibly”

100%. I've been saying it here, 1-5% of portfolio for this nonsense. That small allocation, would've returned a huge sum without hurting you if reality set in. But folks want to be reckless and it'll catch up.

SQ, normal conditions 200 should be support, if that level doesn't hold, 185-189