I really do no think so. I'm about 95% sure on that. There will still be blood until the cases start going down. At the very least it will remain extremely volatile for the next several months. I will try to keep it simple and continue buying on dips from strong stocks that are already down 50-80%.
So on the THMO, I was going to place an order at about $3-3.50 but basically had something come up and couldn't watch it. On these ones where you're chasing news you want to watch them either in real time or setting trailing stop loss, I don't know if I would have hit the top/top but basically it was a sure thing for profit from the amount of volume getting pumped in. For example the volume on that stock prior to today was 50k average, today alone it hit 5 million. These are dangerous and very Very short investments - so never hold, but it would have been in for not long and out, the climb from 3-4 looked real but as soon as you see a stock go up like exponentially and straight up etc you just take profits and either retrace or just move on. Most of these chase the news type things are never longterm unless you have news that they have supplies/drugs/Vax that are a guarantee for a huge run (normally by the time you have this news, unless super lucky everyone else probably does too). Like on WAITR last week I dipped out as soon as it looked unsustainable and never went back, there was a run yesterday on it but since I wasn't watching I won't enter something on a climb if it's already way high, I'm looking for stuff just starting or value buys that are at bargain prices. If you see the exponential climb happening and it's artificially going from manipulation don't even bother entering then, because you're most likely to buy high and be stuck. Fortunately this one had a play for retrace but I'd probably have been gone $5-6+ range. Because normally the bottom falls out and that's it. The only one lately I've been going back in on is ATYU, like I got out this morning after a late entry yesterday so in at ~1.90 out at 2.16, not great but I was expecting it to maybe hit $2.50-3 from the volume surge. But set tight trailing stop loss and climb died so it sold at 2.16, top was 2.22 but profit is profit. I was really hoping bigger surge but you just focus on profits never try to time the market because you'll normally lose when they climb like that. Like in after hours trading right now I'll scan potential companies releasing news or seeing volume climbs, if it looks good and expectations are the trial/supplies/partnership starts tomorrow I'll buy in expecting a gap up. And sell as soon as I feel volume isn't sustainable in the morning, I mean sometimes I'll buy in early on AH and get out if close looks bad. These can be risky if news trashes it overnight but you usually do decent. Because the rest of the market has so many issues there's more volume chasing this stuff.
We definitely haven't, unless there's a miracle and the virus is gone, you'll see a short bump from stimulus but it's going to keep going down. You basically take profits from swings and re-enter more long terms / chase the news/volume to make profits. This movement today was pretty much expected after yesterday, basically trend will continue down overall all I think. But if you're it it for long hall just start accumulating the important ones, especially when there's more dips.
I've been seeing/reading that this may be a short-covering rally exacerbated by algos going bonkers. I wouldn't trust it, but the drop down was so rapid, the dead-cat bounces are probably going to be just as crazy. I still think COVID-19 and the oil price collapse are still out there which may lead to employment issues and other things. I'm still not convinced short-term we're done, but I bought some small quantities on the way down (some too soon), and I'm going to buy some again soon, and I'm moving a crapload of money into my trading account to buy more in the next month because... short-term I don't know, but long-term, I'm confident.
I'm trying to think back to 2008/2009 (instead of you know, actually looking at data) - the market tanked when the bailout failed but then it was eventually passed. It was pretty predictable that this would never pass without a bit of political football. My crystal ball says this isn't the bottom quite yet - too many people still believe this isn't that big of deal. Another poster mentioned if folks can pull $ from 401k, will they/what impact will that have - good question. I am thinking pretty long term though and bought a bit yesterday and will go ahead and start going long by the end of this week. I think my goal is to get about 50% of my final position bought by end of week and probably the last 50% in about 7 - 10 days. I keep telling myself, if the S&P is at 3,000 in 18 months, I'm not going to care if I got in at 2150 vs 2300...I'll just be pissed if I waited until 2600!
It was for sure a mega short squeeze combined with seller exhaustion. There was some good data about that from one of the guys I follow. That said we did hit very solid support at 220 on the SPY. Just trying to play around with different scenarios.
Right for long term investing this will be good, I think a a bit up after stim followed by more dips but getting good value on just about anything and can always avg down. The main thing is to not wait until you're like absolutely certain, because if you do, most likely you'll have missed the entry and be at 2600 like you mention and trending up. Missing a lot of shares you could have bought etc
Trump wouldn't have asked the states to delay releasing the unemployment numbers if they weren't scary. Anyone whos have been trading equities knows that the stock market correlates with the job numbers very closely. I'm expecting a bloodbath come Thursday. Texas TWC portal was down for maintenance because it had crushed by having too many people visit the page. This is purely a dead cat bounce. If I was the Senate id announce the deal on Thursday so it could somewhat offset the bad news of the unemployment numbers.
pretty much everyone I talked to has friends or family laid off or their place of business has shut down and not currently earning.
I saw it rumored, so that could be another crazy day trading , I haven't seen it confirmed yet but if it is... That could cause a dip/followed by up from stimulus on Friday and then a drop next week.
This sucks. I hope this starts going better sooner than later... Obviously we can short the market if it's bad etc but I prefer us to not have families lose their homes while these rich guys just buy everything up.
Yes, Coinbase is good. Are you planning on moving off the exg to a wallet or just wanting to trade bitcoin like a stock?
Min not sure what moving off exg means I think I’d have to create a wallet and then buy through Coinbase . I wouldn’t need to trade bitcoin . I plan on holding for a while , if I decide to move to another investment it seems I can just take out the cash with Coinbase I’m not talking that much
