Meant to post this earlier but I saw Cali said they had 1.6 million jobless claims. Combine that with the 1 million claims Canada says they had then you get two data points that indicate 9+ million jobless claims for the US. Things are going to be rough for awhile
Yeah, these numbers are STILL irrelevant. People know the first priority is not dying and this is medically induced economic stagnation. It's supposed to look real bad for the next 2 months so the economy has a chance to get going again and the fed can stop artifically propping it up
damn i am taking a beating on LULU. and of course I went in for more gainzzz on PLAY yest and that did not pay off. I had a solid 18% gain on everything so far...now 5%. ugh.
One hears a lot of "the market has priced the CV in ...". I wonder what the market has priced in. I assumed that market is considering deaths, unemployment, length of social distancing, etc. BTW I would be surprised if the market has priced in 30% peak unemployment.
Banc of cali got a big ratings downgrade today, $6 target price, underlying share price has dropped to $7. I'm ITM by $8 atm. Time to sell or do you guys think things can get much worse for banks? My put expiry is in Sep. Without the FED things are obviously going south for them, but hard to predict what new corporate welfare scheme they cook up next. https://www.thestockobserver.com/20...f-california-inc-cut-by-analyst-nysebanc.html
Hey sorry guys, didn't get to do a lot this morning due to other work but planning later today or tomorrow for more tips. With that said - If anyone's interested in decent calls, just DM me and I can share a Discord Server. I don't own it, but just joined it now and it has a lot of guides for new/advanced trading so it helps.. It's all free, and their tips certainly seem worth looking at. I have only come across these guys a few times elsewhere, but wasn't aware of this server. They seem to be doing good based on times they share info. They're definitely high risk/reward like the plays I have been trying to share, but appear to be doing good from some of the things I am reading through in the past (ie if I had realized I could join before ... it'd have helped a lot in this garbage). Please note, they won't tell you when to exit so you have to do the research but they seem very helpful and aren't charging people. They at least give you a heads up on stocks to watch in case I get busy etc and don't post. They also look to offer what're the best reads throughout day and actually learning how to read/research stock setups and what to look for. It's free though which is nice VS some of these other groups I have seen that want a payment. I also like that they have set it up more to learn, but also provide good info on their planned plays, and seem to actually want to help both new/advanced traders learn. Again, I just joined now so not financial advice/requirement.... So I don't know how everything works yet (but it's all free), - they have a few thousand members. From what I can tell I'd mainly look at the Admins/Top members that give info/tips, but it's probably worth looking at if interested. I am going to test this out hopefully tomorrow. I mean they're even posting Gap info ahead of market, I want to review the lists still but looks very promising. If not interested, I will still try to provide tips/calls I find as I can or answer questions as I can. Just a bit busy over next few days probably. Also, if I do give you the link, please try not to ask exit plays, like the tips I have seen in the past definitely work but you need to do your research on these too. ie they provide great calls but all short plays typically, and will only occasionally give you exits (similar to what I have been stating). But you need to take profits. And since this is free it's not financial advice etc. but could really help spot huge gains. I am under the same name in the server and can chat there if you want when I am online (just message me on the side), I don't mind attempting to answer exits, but again not financial advice. With how choppy the market is you need to take profits. But some of these calls were like that THMO and even better (50-200%).
I am making a trading account on Webull, I want to try pre-market trading - way ahead of market 3am-830am cst, it would be very nice with some of the stuff I have seen on overnight holds etc..
Be careful day or very short term trading. There is a reason most people lose their trading capital doing so. I certainly have scars from years ago. I'm more a position trader and just index funds. I'm looking for an entry, but it's so hard to predict when and where this thing will bottom. One would think that when people start returning to work could be the first positive indicator, but if you wait too long you will miss the entry because the market will spike up, if it does, before that event happens since it's forward looking.
Man, really sorry to hear this (I know we chatted on some). I have had a bad week for sure but definitely could be worse... Ie missing my normal entries/getting reckless on trades I'd normally wait for. I'm hoping to get things back on track, last week up 60%, this week down 15%. I have a few trades in play that are either going to be wonderful or really bad. I'm feeling confident atm but we'll see... I am wanting that Webull account for that specifically. I don't like leaving any of these short moves in long, even if I miss points on profit I'd rather take profit and not lose it waiting for the shorter pre-market offered, so the extended pre-market hopefully will help. Obviously you can miss gap ups, and I will need to determine quickly on plan but it'll at least hopefully give me a chance to exit on any of the bad news/pr that happens over night.
I think it depends on much of that % is easily recoverable. I.E. furlough/layoff vs. the company itself is dead.
Apparently in 2008 the market rebounded long before we hit peak bottom in terms of bad news and the actual state of the economy. (I was still in school in 2008, so I don't know). In any case I've been putting the same % of money every paycheck since that initial 30% drop. Perfect time to buy it for me at least and its all going into index funds; less risk.
Yes, the market will hit bottom way before people start reading about it in the newspapers. Our job is to watch and look for potential catalysts for a market bottom. I'm not seeing anything yet, so other than a 10% buy back and biweekly 401k investments, I'm still on the sidelines. It's so frustrating not knowing when to jump back in with both fists.
GHSI is one I'm currently chasing the news on, decent entry and it's still in low. 40s but obviously very risky - next week or two could see it go, but be very careful. I mean if news goes bad/doesn't happen/miracle happens with virus, will not make it good. This is a extremely short play, and if you invest don't put it in and forget it. Again - not financial advice. Also watch companies regarding masks (for some on server I'm sure you saw the money some guys made)- these are all short plays but some guys made killing again on NBY and others. I would probably watch it since it went from ~.50 to $1 but could dip/pull back for another entry (or another similar med company). Again though, very short play. This is what you'd want to find though, follow the news/money. I mean obviously any good news/bad market day is usually a easy time on any good stock (especially for the rebound next day after heavy loss in a good stock), but I'm basically looking for high gains. But w/ that said if you're not day trading and just wanting to enter the long term investments, just keep adding into good funds or companies, basically everything's on sale (assuming you're picking good/real companies). If it goes down further (I'm sure it will), add more. I'd gap your entries though, as mentioned above, because it's definitely still trending down. If you're in a stock/401k and it's down leave it. Or Avg stock down ie exit and re-enter lower/just buy more as this goes. With the volatility though it's certainly made things risky for newer daytraders - and the problem is you need to exit with profits even if you exit at %20 and not 50+ that's fine (when day trading) - profit is profit. You just don't Want to enter poorly/force it after missing jump and then lose a quick 10-20% or more. Like on NBY when I wasn't able to enter correctly today, I just moved on. I don't enter something I've missed, I either wait for the dip/more news coming or just skip entirely (unless I've heavily researched it). It works more times than not with small cap junk to not enter after you miss it. Like sometimes newer traders will look at the greens see 50% up and enter when the chart is straight up like a flag pole, unless you know something from research or have an idea of value/chart/TP - do not enter. Obviously with real companies - ie you find the next Netflix type stock and believe in it, keep investing. I know we all have the would of/could of/should of Stories but when you're day trading only risk what you're willing to lose and don't get stuck thinking emotionally on missing higher profits, the emotions are when you basically start forcing stuff. So don't force trades. Even if you take a lot of time planning and enter slowly (assuming it's not some hot lead), it's better than basically throwing darts blindfolded at a dartboard and picking up random stocks because they're down- that's when you're going to get in trouble and need to take a break/learn more.
This thread was started by @SWTsig during that period. It pretty much encapsulates what everyone was thinking during that time. You can watch the panic and the same questions people were asking back then as they are now. The answer to "when is a good time to jump in" back then was pretty much "whenever" because you probably would've made a killing back then if you bought any decent stock that wasn't some kind of pink sheets/OTC garbage (or Bear Stearns/Lehman Bros. lol). If you're bored, you can go back and read most of it and watch people jumping off the ship. lol.
