Sanrith Descartes
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Investing General Discussion
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Guest, it's time once again for the massively important and exciting FoH Asshat Tournament!
Go here and give us your nominations!Who's been the biggest Asshat in the last year? Give us your worst ones!
Tmac
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Sanrith Descartes
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Sold off my AMZN again for about 12% profit.
Sold off my CI for about 10% profit.
Nothing spectacular but profit is profit. My being able to jump back into UNH made CI expendable.
Added some V and PYPL this week. Looking to add to T at $24 and got DIS on the radar to add to.
My MSFT position now has a better return than my PLTR position. That isn't a knock on PLTR but showing MSFT is still king.
edit: order for more T popped at $24.
Sold off my CI for about 10% profit.
Nothing spectacular but profit is profit. My being able to jump back into UNH made CI expendable.
Added some V and PYPL this week. Looking to add to T at $24 and got DIS on the radar to add to.
My MSFT position now has a better return than my PLTR position. That isn't a knock on PLTR but showing MSFT is still king.
edit: order for more T popped at $24.
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Sanrith Descartes
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Big Phoenix
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Sanrith Descartes
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Zog
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20.95-22.20 for a little 
money today off of CLF.
If this is a reversal from the 20% drop from it's previous high, going to be some nice gains in the coming weeks, only thing im worried about is negativity from fed chair decision and the next debt limit bullshit but things are looking good for CLF.
Closing of their scrap company deal is pretty big for them and the industry as a whole. Most companies were selling their scrap for pennies to China to recycle only to buy it back at a premium.
money today off of CLF.If this is a reversal from the 20% drop from it's previous high, going to be some nice gains in the coming weeks, only thing im worried about is negativity from fed chair decision and the next debt limit bullshit but things are looking good for CLF.
Closing of their scrap company deal is pretty big for them and the industry as a whole. Most companies were selling their scrap for pennies to China to recycle only to buy it back at a premium.
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Moglyzoke Moogleman
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Been trying to bottom feed more, found TALK. Any thoughts? I didn't want to take a starter above 2, but it looks fairly bottomed out. In doing some reading sounds like the former CEO did some stupid shit and now they're trying to get back on track.
Zog
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Holy fuck, I wouldn't touch that with a 100ft pole.
#1 It's a very new company
#2 There is no sign of any reversal, you should at least wait for some catalyst and signs of the company going in the right direction AND investors believing it.
Not looking good.
Yikes!
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Sanrith Descartes
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Its got negative earnings and sales of 38 million. You want to buy it why? I thought your plan was to stick to solid blue chip companies?
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Moglyzoke Moogleman
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Got zero cash balance so it's all a waiting game for now unless I cut ship and sit and wait. TY for the input though, know now to avoid that trash!
Sanrith Descartes
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The times when you have zero cash is the times you should be doing lots of research. Fintech stocks have been crushed lately. V, MA, PYPL to name a few. Rock solid companies. Some industrials are primed for purchase. This is the type of stuff you should be looking at for the long term.
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Blazin
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seeing a lot of weakness under the hood, really amazing how the index has stayed in range. About 60-70% of volume was on the decline side today depending on index. We had twice as many new lows in the nasdaq than we had highs. Next week should be interesting. Are we coiling for another move higher which is what the index chart looks like or are we about to lose steam and reset a little lower like the internals are suggesting. Very hard to tell right now.
On individual names I have a couple bleeders, Paypal bounce failed and it couldn't close the gap and has now fallen to new lows. When I do catch a falling knife I never do the second add until I get a clearer signal the trend has ended. Paypal volume is still elevated and below all moving averages. Oil is getting thrashed around a bit and that too may last another week or two. AMZN has been a life line for me this week pushing to the top of its range.
My current read is that we may lose this level and go back to SPY 455 range before final push in December. Some individual names are seeing stronger corrections but I don't see that flowing into the broader index.
Currently down for November, some time yet to correct that.
On individual names I have a couple bleeders, Paypal bounce failed and it couldn't close the gap and has now fallen to new lows. When I do catch a falling knife I never do the second add until I get a clearer signal the trend has ended. Paypal volume is still elevated and below all moving averages. Oil is getting thrashed around a bit and that too may last another week or two. AMZN has been a life line for me this week pushing to the top of its range.
My current read is that we may lose this level and go back to SPY 455 range before final push in December. Some individual names are seeing stronger corrections but I don't see that flowing into the broader index.
Currently down for November, some time yet to correct that.
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Kiroy
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Big Phoenix
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Dont forget lockdowns coming back into play. Austria going full retard which will likely cause others to as well as cases continue to go up and up. gg travel/leisure stocks.
LachiusTZ
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I am reluctant to ditch my bear position...
I know it's all bullshit, everyone else knows it all bullshit, but it keeps going up...
Just know, if it starts a grind down, and I still have my SPXU...
There will be a modicum of guilt as I celebrate. Like when you bet no pass on your buddies 3rd roll after he let it ride twice.
I honestly fucking hate where the market is now. I don't have the knowledge to trade like some of you guys, don't have the time to get better so I can, so I'm stuck trying to put my money where I think is "correct".
So I went bear mode, hell even bought puts a few times on SPXU thinking I could offset some losses, but I lost all the options money AND SPXU still went down.
Lol
Fogel
Mr. Poopybutthole
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Honestly, what are you waiting for, another black swan event? You'll be lucky if we get 10% correction anytime soon, and that'll do what, put us back to where we were in June
Big Phoenix
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rip rivn?
www.marketwatch.com
Ford Scraps Plan to Develop an Electric Vehicle With Rivian
Here's what to know.
www.marketwatch.com
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LachiusTZ
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The market is completely detached from the economy
The dollar is dying
Valuations vs earnings are in fantasy land
Manufacturing, jobs in general are lacking
Value of labor plummeting
Govt going ham on social justice spending
Like a lot of people, even some here, I think it's a fiction.
But what's the saying? The market can remain irrational longer than you can stay solvent?
None of that matters if people keep pouring money into it, which is happening.
I kind of thought people would realize the emperor had no clothes, but the beat goes on etc
Zog
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I think it partially has to do with a massive number of retail traders that have never really been this exposed to the markets, which is affecting a lot of "normal" behavior.
I can't comment about the dot com era of trading because I was barely a teenager then but the gist was, everyone and their brother was buying stocks.
This has a lot of similarities but with a much easier barrier of entry than the late 90s did. Now with basically "free trading" with payment for order flow in the palm of your hands, you have millions of people of all ages actively buying and selling stocks year round filling in gaps where there should definitely be a pullback but theres just an ocean of liquidity sloshing around all over and mostly getting put into household names that the everyday person knows. HD, AMC, GME, NVDA, AMD, INTL, AAPL, NFLX etc. without long term experience for how things are "supposed to be."
Of course the big boys control a larger part of that market and definitely have more pull over the indexes, I think the "bubble" can be sustainable until collectively the market slaps their hands. The only way to do that is for these black swan like events everyone is expecting... We haven't really had many big names massively miss earnings or something happen out of left field to cause people to pull their money so there's no real reason yet for these things to happen.
I dont think the general attitude of "year end rally" is helping things either. Everyone that has sit on the sidelines is suffering from FOMO or all together missing out watching huge gains pass them by.