OFFICIAL STOCK MARKET AND ECONOMY THREAD VOL. A NEW CHAPTER

[frankmatthews]

Someone tell TSLA we're ending green today.

Pretty weak volume across the board on todays gainers. Sellers went home at noon. Look at the volume on all the weeks uptrends, then look at the volume on the red candles that follow. Growth is still being unwound on any strength. Watch rates for next week.

 

[johnnyredstorm]

Wash sale takes 30 days? Might hop back into everything then. Any advantages to this?

I deal with wash sales all of the time. Schwab adds the loss onto your cost basis. Annoying as ****.

I still have about 5.5% cash that I’ll deploy either lower with bids filling or higher with confirmation on volume. Like frankmatthews said up there, we are closer to the bottom, but not confirmed to be out of it until we see major buying volume.

 

[rexmakesbeats]

Technical analysis and news on Tesla stock for week ending 03/06/2021. Tesla continues to tumble touching $539 at its lows. However it did break back into the long term uptrend channel to close out the week. If it can hold above ~$580 it can very well move up to test resistance at $685. If it can break above that level, the next resistance lies at the 50DMA at around $775. BUT, if Tesla continues to selloff next week, we could see it break below $580 and test the 200DMA at around $474.

Tesla news this week includes:

• India woos Tesla with offer of cheaper production costs than China
• Tesla’s share of European EV market reduced to 3.5%
• Elon Musk extremely confident level 5 autonomous FSD will be achieved this year
• Billionaire investor Ron Baron’s firm sold 1.8 million Tesla shares despite saying price will hit $2,000

 

[Beruseruku Desu]

$IPOE showing some life

 

[c money 88 05]

Someone talk to me: Selling stock to re-buy, cheaper good idea right?

I want to make sure I’m not missing something before I do it, I just started & bought Roku kinda high before this massive discount started. I wanna sell it & re-buy so my stock price is $360 instead of say $460...I’m not seeing a reason to not do this if I’m not planning to drop it completely.

honestly I’m struggling to see the harm in this because the share is already mine, I’m just changing what I say it’s worth & at what point it becomes profitable...but I very well could be missing something.

can someone help me out with my logic?

 

[igotthatstock]

Someone talk to me: Selling stock to re-buy, cheaper good idea right?

I want to make sure I’m not missing something before I do it, I just started & bought Roku kinda high before this massive discount started. I wanna sell it & re-buy so my stock price is $360 instead of say $460...I’m not seeing a reason to not do this if I’m not planning to drop it completely.

honestly I’m struggling to see the harm in this because the share is already mine, I’m just changing what I say it’s worth & at what point it becomes profitable...but I very well could be missing something.

can someone help me out with my logic?

It makes literally no difference doing this unless you just want to feel better about your price when you look at it. You don't become any more or less profitable because upon sale you bank your losses.

Now, if you sell it today and it drops in price before you rebuy, you technically save money. But the inverse is also true, i.e. if the price goes up, you lose money you otherwise would have made.

 

[johnnyredstorm]

If you bought at 460 and sell it at 360 you just locked in a $100 loss. And if you buy it back immediately you won’t be able to write that loss off your taxes. It’s a terrible idea unless you think roku is going to go substantially lower.

I had a 407 average in twlo, I sold it for a loss at 397 and bought it back today at 315 average. That worked out. It doesn’t always work out or make sense.

 

[c money 88 05]

It makes literally no difference doing this unless you just want to feel better about your price when you look at it. You don't become any more or less profitable because upon sale you bank your losses.

Now, if you sell it today and it drops in price before you rebuy, you technically save money. But the inverse is also true, i.e. if the price goes up, you lose money you otherwise would have made.

how do you lose money if the price goes up? In my mind the price is the price, so let’s Roku for example will be $400 on Monday regardless of what I do. If I bought in at $450 then I’m still down $50 for my original purchase, but if I was to sell & realize the loss now I’d buy back in at $350 & “make” $50 on the stock.

I figure that doesn’t mean much in this example since you’re still down $50 from the original investment but I think I understand why the net effect is nothing long-term now.

I’m curious though how you lose money in that scenario so I can make more sense of what’s happening that I may be missing

 

[c money 88 05]

If you bought at 460 and sell it at 360 you just locked in a $100 loss. And if you buy it back immediately you won’t be able to write that loss off your taxes. It’s a terrible idea unless you think roku is going to go substantially lower.

I had a 407 average in twlo, I sold it for a loss at 397 and bought it back today at 315 average. That worked out. It doesn’t always work out or make sense.

got ya, I think that might’ve cleared up my confusion with the last post too. It would be a loss to buy back in at the new price if the price went up during the sell/re-buy.

thanks guys, that makes more sense lol

 

[ICE CITY CF]

Yo what kind of math is this?

 

[johnnyredstorm]

Might be best to own an index fund fam

you are guaranteeing you lose money when you sell at a loss. You changing your cost basis on paper doesn’t change the fact that you just burned $100.

 

[crownedhead]

Might be best to own an index fund fam

you are guaranteeing you lose money when you sell at a loss. You changing your cost basis on paper doesn’t change the fact that you just burned $100.

 

[c money 88 05]

Might be best to own an index fund fam

you are guaranteeing you lose money when you sell at a loss. You changing your cost basis on paper doesn’t change the fact that you just burned $100.

thats what I was asking & wanted to know, thanks!

 

[frankmatthews]

Someone talk to me: Selling stock to re-buy, cheaper good idea right?

I want to make sure I’m not missing something before I do it, I just started & bought Roku kinda high before this massive discount started. I wanna sell it & re-buy so my stock price is $360 instead of say $460...I’m not seeing a reason to not do this if I’m not planning to drop it completely.

honestly I’m struggling to see the harm in this because the share is already mine, I’m just changing what I say it’s worth & at what point it becomes profitable...but I very well could be missing something.

can someone help me out with my logic?

What are you trying to accomplish here? This is a strange question.

 

[c money 88 05]

What are you trying to accomplish here? This is a strange question.

i was just asking because I didn’t know lol, I’m starting out.

As I saw these prices dropping on some stocks I had my eye on I knew I wanted to buy more now but didn’t know if there was any benefit to selling the higher priced stocks since I just got them.

my thinking was if something you just bought at a store goes on sale for $100 less 2 days later you’d naturally go get an adjustment...I didn’t know if there was any logic to the same concept with stock shares

 

[OnlySinkDunks]

I get what you're saying but it is different. This would be more like you buy a Jordan 1 on StockX for 400$. The next week it drops to 200$, would you sell the one you purchased at 400 for 200 just so you could buy it for 200?

 

[206to813]

c money 88 05

 

[sole searchin]

i was just asking because I didn’t know lol, I’m starting out.

As I saw these prices dropping on some stocks I had my eye on I knew I wanted to buy more now but didn’t know if there was any benefit to selling the higher priced stocks since I just got them.

my thinking was if something you just bought at a store goes on sale for $100 less 2 days later you’d naturally go get an adjustment...I didn’t know if there was any logic to the same concept with stock shares

Stock market doesn’t work like that unfortunately. Can’t get a price adjustment although I wish we could have this past week

 

[s0lefunk]

c money 88 05 If you have conviction in the company you’d buy more shares at the “discounted” price to drive your average cost down. Think of that original, higher price closer to the true value of the stock. You buy more at the lower price because you believe each unit will eventually rise back to that original price. Thus more earnings.

I’m very new too and its hard. But once you establish that long-term mindset it makes it easier to “buy the dips” without panicking. That’s why I’m increasing my cash on hand to research a handful of companies that I believe will bounce back stronger.

 

[rexmakesbeats]

Technical analysis, price predictions and news on cryptocurrency Dogecoin for week ending 03/06/2021. Doge has been trading within wedge and is ready to breakout soon by Monday! First level of resistance on a break above wedge will lie at $0.06, which was the consolidation range it had been trading in from $0.05 to $0.06. If it breaks above $0.06 it is only a matter of time when it will hit $0.10+. Some minor resistance levels along the way lie at $0.07 and $0.08. However, if Doge breaks wedge to the downside, it will find support at $0.0448. If it breaks lower, the next support lies at $0.0415

Dogecoin news this week includes:

• SpaceX Raptor “Under Doge” Engine delivered to Starship build site
• Apple Magazine: Declares Dogecoin as the new Bitcoin
• Elon Musk tweets: 2022 Dogecoin is dumb
• Doge available for purchase on 1,800 CoinFlip ATMs in the U.S.
• Mark Cuban’s Dallas Mavericks will accept Dogecoin for tickets and merchandise

 

[igotthatstock]

Looking for strong, positive volume Monday am.

I will give it until Wednesday or Thursday before I determine if we have turned the corner or if the stimmy talk is moving equities.

 

[Xennial]

why wed or thurs?

Looking for strong, positive volume Monday am.

I will give it until Wednesday or Thursday before I determine if we have turned the corner or if the stimmy talk is moving equities.

 

[johnnyredstorm]

Technically you hve like 3-14 days for a follow through day, after that, if there’s no volume, the odds of a reversal decrease. 60% or so of stocks are still above the 200 day, that’s not enough pain yet technically. Especially since we haven’t had a put/call ratio over 1.20 yet.

cautiously long and waiting for more weakness or a FTD to use the rest of my cash.

 

[igotthatstock]

why wed or thurs?

It is something called a follow-through day. Historically, if you see strong volume and positive uptrends 4-5 days after a downturn, you can be confident you turned the corner.

This was critical to my success in 2020. As I have said before, I missed the first part of the upswing by about a week, but still did damn good.

 

[stork]

Can you day trade on PST? I'm guessing no, seems like I would miss half the day.