Investing General Discussion

Oil right at $85/barrel. 23 days in a row with a price increase.

Sanrith Descartes said:

Some stocks, you just don't short. TSLA +5% pre-market

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Yeah, that's the danger of shorting a swing trade. You can get crushed on news and cant close out.

Want to talk about something even more dangerous, if you did a pairs trade on PYPL/PINS, you were absolutely crushed. That's what a lot of people did. Pairs trade is a great way to make money, but if it goes the wrong way, its double pain.

Sanrith Descartes said:

Some stocks, you just don't short. TSLA +5% pre-market

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Reality is, you could have shorted TSLA and made 18 a share today. I just wouldn't hold it overnight, and I'd stop it out. It's so volatile right now that the correct stop is 2%.

Hateyou said:

This is stupid. Everyone starts somewhere. I noticed you didn’t list any “far better” uses for the $.

Taking $1000 and learning to swing trade / invest is a learning experience in itself and alone could be worth the $. Agree that you should just paper trade to learn day trading as it’s not as simple.

Start with $1k, plant it around different companies/ETFs and keep adding to it Sludig Set up your paychecks to add $100 a month/week or whatever you can afford. Buy dips, sell peaks, listen to advice from here and the money will start working for you. Starting small it won’t be much but it’s better than $0 and it grows quickly.

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As far as pay checks, I figured I should max my 401k first. Though I'm not sure how good that is if we are about to go depression eta for a few years.

Just figured itd be nice trying to make a some small money off all these seemingly predictable hype stocks lately and some of the cyclical predictable bouncing. Like not putting savings in, but limiting to essentially my hobby/ gun money.

Trading TSLA is not real fun right now. I need to be on something else.

Was at a get-together this weekend and ran into someone I know who drills for a living. No one is opening up new drill sites under Biden. It costs 70k to put in a new rig. Under Biden, EPA has increased fines to the point that no one wants to open up new drillsites. I asked him what it would take for new rigs. He says Biden needs to show that he's not going to allow the EPA to put the drillsites out of business. No one will invest in new drilling in the US. Trump let them drill how they want. He said it's so bad right now that they are fining 10k for an oil spot on the ground. If someone finds a dead bird, it's 10k. And they have all sorts of wackos planting dead animals on site. The other problem is that sites deplete, its going to get worse in the US. Other factors are inflation, with the cost of cement and steel going up, thats more uncertainty. Business owners love certainty over all else.

Why anyone thinks they are going to get us off of gas and oil in a year or so is ridiculous. We get 12% of energy from renewables. Anything more than 2-3% a year is unrealistic.

Hopefully this is the signal US drillers are looking for. I was a little buzzed at the time, but I think I heard him say that if they open a drillsite, they expect the EPA to let them stay and drill for 3-4 years.

Big Phoenix said:

And l o l @ tsla up over 9% so far. Has there ever been a stock thats defied all logic like it?

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GME and AMC. But yeah, it doesn't follow much logic.

WTF is up with TSLA. The news isn't that good and the government is clamping down on self driving.