Sanrith Descartes
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NVDA had such meltup, I doubt anyone can give a solid guess of a floor.
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Investing General Discussion
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Guest, did you like the last podcast notification?? Well here's the second one, and for the third podcast! Yep. This Thursday 8-8-24 at 7pm Central
Go here to check out his podcast thread for info on topics and links!Go into the FoH discord and find the Happy Time Fun Hour channel and give it a listen!
Blazin
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I'm watching $96-97 , Would take a decent sized QQQ correction for that to happen and it wouldn't be in a straight line. This is first big gap and drop daily candle I want to see how it handles the first bounce attempt rather than play that bounce attempt. It's going to try to bounce at $115 based on the behavior I see there will be more telling about where we are headed.
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Sanrith Descartes
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I know its a boomer way of evaluating it, but I have been comfortable buying NVDA based on PE. My previous buys had been in the PE ratio of 50-55 range in the past. This is also where I bought it recently back before Blazing talked me into selling before the meltup
.Historical PE:
Based on current earnings a PE of 50-55 would put a stock price of $85.5 - $94.05. So the PE ratio evaluation is in the same ballpark as Blaz's but a little bit lower. Look at the historic chart. Patience will be rewarded on this one. Just sit back and wait for it to adjust lower. It might take months/quarters, but it should happen.
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Sanrith Descartes
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Sanrith Descartes
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Sanrith Descartes
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Loser Araysar
Chief Russia Correspondent / Stock Pals CEO
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I know its a boomer way of evaluating it, but I have been comfortable buying NVDA based on PE. My previous buys had been in the PE ratio of 50-55 range in the past. This is also where I bought it recently back before Blazing talked me into selling before the meltup
Historical PE:
View attachment 537149
Based on current earnings a PE of 50-55 would put a stock price of $85.5 - $94.05. So the PE ratio evaluation is in the same ballpark as Blaz's but a little bit lower. Look at the historic chart. Patience will be rewarded on this one. Just sit back and wait for it to adjust lower. It might take months/quarters, but it should happen.
Lmao
Now do Clorox
Loser Araysar
Chief Russia Correspondent / Stock Pals CEO
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Sanrith Descartes
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Sanrith Descartes
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ToeMissile
Pronouns: zie/zhem/zer
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They should put a row in there for SPY. Also, it would be interesting to see a distribution of performance among the people making the calls at each of those places.
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Blazin
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I'm selling covered calls this morning .
Has been a good couple months for me:
May $38,412.71
June $21,184.66
July $38,730.42 MTD
I'm in a position that I don't need anything earth shattering to round out a good year and I'm more interested in avoiding the ($20-30K) type months. I'm kicking myself over a few things where my read was spot on and I was too cautious. I'm slightly ahead of last year at this time and Aug-Oct was a rough patch ($34,063) in 23 until I homered the Small caps in Nov/Dec for $83,492.
It's boring but I will likely just milk it for a few months with options and collecting interest. If we could get a decline this could be a banner year. I by far make the most money in corrective periods. My best month last few years is July 22 at $77,894.72 .
I've always been an oddball in that most people make the ez money in a bull market melt up it's definitely my worst market condition, I'm not complaining as it's not hard to be green in that environment but the market being up like 40 of 50 days or something just gets really low volume boring and I have no edge. I should probably just learn to let it ride during these periods and save myself the headache, I have got better with that over the years of knowing when the best thing to do is nothing.
IJS poking it's head out of the box. Setting stop pretty much at that level, little room for a back check. Sustained months of running would be something else.
Has been a good couple months for me:
May $38,412.71
June $21,184.66
July $38,730.42 MTD
I'm in a position that I don't need anything earth shattering to round out a good year and I'm more interested in avoiding the ($20-30K) type months. I'm kicking myself over a few things where my read was spot on and I was too cautious. I'm slightly ahead of last year at this time and Aug-Oct was a rough patch ($34,063) in 23 until I homered the Small caps in Nov/Dec for $83,492.
It's boring but I will likely just milk it for a few months with options and collecting interest. If we could get a decline this could be a banner year. I by far make the most money in corrective periods. My best month last few years is July 22 at $77,894.72 .
I've always been an oddball in that most people make the ez money in a bull market melt up it's definitely my worst market condition, I'm not complaining as it's not hard to be green in that environment but the market being up like 40 of 50 days or something just gets really low volume boring and I have no edge. I should probably just learn to let it ride during these periods and save myself the headache, I have got better with that over the years of knowing when the best thing to do is nothing.
IJS poking it's head out of the box. Setting stop pretty much at that level, little room for a back check. Sustained months of running would be something else.
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Blazin
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Well I'm up 50% on those calls an hour later. Markets attempt to rally just falling apart. This is an important change in behavior . Stonks performing a certain way for months on end gets people thinking it's permanent, until it isnt.
Now everyone can start acting like a small corrective period is the end of the world.
Now everyone can start acting like a small corrective period is the end of the world.
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Sanrith Descartes
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Loser Araysar
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Blazin
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Probably a good one to play today, acting completely independent of the indexes
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Loser Araysar
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I f'ed this one up and bought it at 258 earlier this week, been stuck in it for 2 days now
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Blazin
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Always a tough call when active/daytrading to wait one out the whole time you are thinking it's costing you money tying up that capital waiting. One of the best day traders I ever met who taught me a lot strongly believed in closing it out EOD , and he's probably right. I ended up not doing that but I only ever flipped names that I was okay being caught in just because it helped me psychologically to be less concerned with a red position.
Can always look at that nasty swings in NVDA this morning and maybe say "well I didn't get caught in that", sometimes the missed opportunity is the opportunity to lose money.
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