Haha. I got out of most of the moonshot stocks several months ago (probably too early) and have a good chunk of money to buy when this all settles down. But.... I've owned NFLX for years, and it's a large position, so I got hit hard yesterday. The rest of my stocks are "ok" with expected downturns. I kept saying NFLX was going to go down on earnings like it often does, but I didn't think the reaction would be as violent as it was. I'm praying AAPL doesn't crack. Instead of hiding in the weeds, you should probably be looking for stuff to buy when you think the market has settled down or at least has dropped enough for you to dip in.
B4 year-end, made 2 bets, AA and AMD my moonshot was AMD; good thing i had constructed a CALL spread on it, which caps my loses. on 27 Dec, when trading at ~ 149, i had collected ~ $5.15 in advance for the 10-pt spread. after 3rd trading day in Jan, when AMD was trading ~ 145, i changed my sentiment on Techs, exited the AMD CALL trade, had to pay back $7 to exit. net loss $1.85 on the AA, bought a 10-pt bullish CALL spread, as well as sold 5-pt bullish PUT spread. this butterfly spread worked out, lessening the pain from the AMD beating currently sitting on the side line watching and waiting to trade AAPL and NFLX. been an AAPL stock holder since 2 splits ago; if history is any indication, for AAPL, after Jan ERS, stock price declines for ~ 5-6 wks, then rises steadily until the next product cycle begins. for NFLX, some time in mid Feb, i'll place a bet for it to close the 440 - 520 gap
Yeah, I've been in AMD since around $79, I think, which doesn't seem too long go (lol). I don't plan on selling. If anything, I may buy more. I was hoping AMD was more of a long-term hold for me than a moonshot (like a SPAC, EV stock, etc.). As a corollary I'm keeping an eye on NVDA for the future, too. I remember putting in a limit order for something like $198 to buy into it that's still sitting there. lol. Wow. I missed that order firing by maybe $5-$6 before it took off. I'm not buying any more of AAPL because it's another large position, but I don't plan on selling any anytime soon, but only because my cost basis is probably $20/share in it and I still believe in its future. I'm still going to sit on the sidelines and wait and see what happens next week. I'm not sure we're done yet. In the meantime, maybe I'll go hide out in something like ABBV... lol.
I guess you can blame Manchin but each successive stimulus since 2018 have become shorter lived with more diminishing returns. Market hoping for a bump from Powell, but he's handcuffed with inflation fears. Tantrum is a comin... Ruling party gonna get routed for midterms..,
I should have closed out my NVDA leaps before this meltdown. I have a feeling PTON will get bought out by someone…maybe AAPL?
lol. The market goes up to stratospheric levels and nobody cares... just keep buying! Market goes down 10-12% and people are ready to jump off a cliff. If you didn't time the correction correctly, what makes you think you're going to time the recovery?
perhaps, wishfully thinking on my part, sprinkled in w some candlestick (an emphatic bullish engulfing one w heavy volume) reading, sold a March 175/165 bullish PUT spread, collecting a $5.3 premium in advance, defining my max risk to be $4.7 QCOM touched the 50% retracement level this AM, going into the ERS on 2 Feb, i m betting that it will be above 175 on Mar expiration
I'm hoping this was the 10% standard correction capitulation, but even if it wasn't, that was one hell of a comeback. If you just woke up or sold during the day, you're probably like, "wth?!"
