Investing General Discussion

Fogel said:

Too busy watching the markets rally to finish green!

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The power of the Powell Put.

FTEC and QQQJ I grabbed are almost green.

Gravel said:

I was going to post it earlier today. Some of you are going to have a heart attack with this shit -- when the SPY is down less than 1% and you're acting like it's the end of the world. And that was only the first 2-3 hours of the day.

Meanwhile it's back to positive to end the day.

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To me, when the market is bleeding red I enjoy it like I do a Raid boss. Lots of energy, checking charts, plugging in orders and shit. For me, I do much better spotting support levels than I do figuring out how to handle an up market.

Ruh-Roh

Edit: That explains it...

and..... its green.

Jysin said:

WKHS in 3rd volatility halt down. Ouch

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Translation for those who don't speak financial technical jargon: They be fucked.

Today stands out as a reason I try to preach that everyone learn the most basic of technical analysis. Remember, the charts do all the heavy lifting. You just have to read them. After seeing the futures this morning I knew we were going to open ugly. So I do what I always do on these days and looked at the charts of my targets I have been stalking. FTEC is the Fideltity pure tech ETF (no Comm sector stocks like FB or GOOG). The chart this morning showed me that the 50 DMA was sitting just above the intermediate line of support. ($106.01 and $104.25). $104.25 is 8% down from the 52-high. The 100 DMA is close at $100.70. Looking at that setup there is a ton of support within a few dollars of each other. I set my limit order to buy at the line of support of $104.25. I am happy to make a long term hold entry position 8% from the high. I did a half position there and another half position at the 100 DMA ($100.70). The 50 DMA held for a little bit and then collapsed. The intermediate line of support held and we got the bounce at $103.50. So I missed by 75 cents but got a solid entry at a price when lots of people were selling in fear.

If you want to trade at even the most basic level, this is stuff you can learn in a few hours on Youtube (or in this thread). Not sure where to price options? The chart guides you. Not sure when to buy when the stock is falling? The chart guides you. Not sure if its a dip or a crash? The chart helps you.

My words of advice for the day.

Locnar said:

ahh so thats why my THCB shot up and my "pie in the sky" standing order to sell CCs on it hit, THCB/Oshkosh beat out workhorse for some lucrative contract

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Not "some" lucrative contract. THE contract as far as WKHS was concerned.

Sanrith Descartes said:

Translation for those who don't speak financial technical jargon: They be fucked.

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Are usps mail trucks their only product?

Sanrith Descartes said:

Short answer: Yes
The time is so far out from the current crash that the delta is miniscule. Unless you truly believe the stock will be under $20 on that date I would try to sell them and recover your money.

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So what you’re saying is . I could sell for a little profit but I wanna ride this a little to see how it feels. My first puts ever so I can’t just abandon them like that.

Big Phoenix said:

Are usps mail trucks their only product?

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Delivery type vans are their only product line I think. GIK is also in the space and does the full line of different van/delivery vehicles.

Furry said:

So what you’re saying is . I could sell for a little profit but I wanna ride this a little to see how it feels. My first puts ever so I can’t just abandon them like that.

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You bought them so you didnt write them therefore they are worthless to you if the price isn't below 20 on expiry. That being said there is time value in them. If you think it will keep dropping then hold for more profit. Understand time value decays. Time value to you is profit and it decays.

Sanrith Descartes said:

Its funny how quiet the Stonkhouse threads got today. Do we need to perform health and welfare checks?

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I was busy trying to transfer cash into my new Fidelity account to buy...but by the time it got in there the dip had already corrected, Q_Q.