We all are going to be riding horses soon. I read that the Colonial Pipeline was using an old version of Internet Explorer. Come on Man! How did these companies pump fuel when there was no Internet???
Did anyone else besides me read that the colonial pipeline got hacked causing it to shut down operations?? May want to play something oil related
Drivers around here are full-on retards. When the pipeline story got out, hoards of drivers all went to buy gas on the same day, causing a few stations to run out. That news sent the remaining drivers into panic mode, and everybody bought gas until there's none left.
We all are going to be riding horses soon. I read that the Colonial Pipeline was using an old version of Internet Explorer. Come on Man! How did these companies pump fuel when there was no Internet???
Yes, I bought into a few stocks today. 2 new ones for me was HTGC and SUN.
Looks like my favorite AMAT has really gone down. I plan to buy more of it tomorrow. I believe it will double by this time next year. Hard to believe something that is huge into supplying the chip shortage would drop down so much.
Not buying anything until I see a sign of reversal. Could be here or could be another week of this. Will look for the VIX to start coming back down and look for a daily reversal. If we don't get that then maybe we get a weekly reversal next week. In start terms we were at the top of the broadening formation so stratters were not surprised by this. But how far will it pull back? Strong tickers will often pull back a little bit then create a micro broadening formation. In weaker markets they might pull back all the way to the bottom of the broadening formation and sometimes more. To be honest I don't use broadening formations as much as I should be but the strat teaches to use them. All they are is basically trend lines that create a megaphone shape.
That said, I did enter a lotto on TSLA June 800 calls after seeing a large order go across on them. Something like 21,000 contracts in one block. From a chart perspective I see no reversal or reason to start going long on it but we will see.
Did anyone else besides me read that the colonial pipeline got hacked causing it to shut down operations?? May want to play something oil related
Drivers around here are full-on retards. When the pipeline story got out, hoards of drivers all went to buy gas on the same day, causing a few stations to run out. That news sent the remaining drivers into panic mode, and everybody bought gas until there's none left.
Agreed. Every time something like this happens, people freak out and do stupid things. Civility in society is a thin veneer and it doesn't take much to wear through it. My faith in mankind is dwindling.
The main reason you guys can make money trading stocks is that people are stupid, panicky, and stupid. Case in point:
Since Tuesday, every gas station around here has had plastic bags taped over the pump handles. Driving home today, I'm 10 miles out, and the car's computer says 5 miles to empty. I'm trying to make it home by turning off the air conditioner and drafting trucks like a Prius hyper-miler.
Then I got lucky and found an open gas station. I only bought 5 gallons because I didn't want to get shot.
Why did this happen? Because people are stupid. So go make some trades -- because, people!
While on my FL winter vacation I ran across a multi millionare. He was a retired stock maket guru. One of his philosophy's were NEVER fall in love with the stock, fall in love with the money.
While on my FL winter vacation I ran across a multi millionare. He was a retired stock maket guru. One of his philosophy's were NEVER fall in love with the stock, fall in love with the money.
Yep. The saying is date them but never marry them...lol
@boatman37. Can you look at LBS=F and look at the chart and maybe explain it?
Can't seem to bring it up in thinkorswim. Need a defined candle chart to read it. Can try other charts and let you know
Yeah I saw that chart but it doesn't have candlesticks. Japanese candlesticks show OHLC (open, high, low, close). Having that info shows the psychology of the market. If a stock opens at $12 but then falls to $5 then pops back up and closes at $14 show the bulls won that battle and were in control. A line chart doesn't give that information. Based on the chart you put up I'd say don't try to catch a falling knife, meaning wait until it starts to base then reverses back up, maybe on a daily chart.
@boatman37 on the last piece of that chart it went way up then way down. Why?
Hard to say. Could have been news, could have been profit taking (which I doubt cause it looks like it went all the way to lows). News trumps charts but many times the charts will be ahead of the news due to insider buying, etc. Yeah we know that isn't legal but if you get a 2 down reversal with large volume then someone is dumping for some reason.
Without giving a full course on The Strat there are only 3 ways a stock can move from one candle to the next and only a few ways that one can reverse. My favorites are a 3-1 and 1-2down-2up reversal or 1-2up-2down reversal. A 1 is an inside candle (entire candle is inside of the previous one). A 2 broke one side or the other of the previous candle. A 3 broke both sides so completely engulfs the previous candle. There are many other reversals like a 2-2, 2-1-2, etc. It's best to pick 1 or 2 and perfect them. On a 3-1 (or even a 2-1) let's say the top of the 3 is at $110 and the top of the 1 is $103. As soon as that top of the inside candle is broken ($103) that is your entry and your target is the top of the 3 candle ($110). The Strat also relies on multiple timeframe continuity so I look at the weekly, daily, 60 minute, 30 minute, 15 minute, and 5 minute charts. When all have green candles that means every participation group is buying. Meaning the quick flip daytraders, the short term overnighters, and longer term holders are all buying. If you are doing quick flips the weekly doesn't matter so much and maybe not even the daily.
All of Rob's stuff is free except his room he runs each day and his full course. I have never taken his course and am no longer in his room but all of his youtube videos are free and there is a huge Strat community on twitter. Just search for #TheStrat. It works on any markets and any timeframes. There are others on Twitter that are better at it than me but I'm getting there...lol
So that is kind of what I was doing last week with Doge. I'd buy in with 1600 bucks at any price, when it went to +25$ I'd bail out unless it was flying up, now on the flip side, if I bought in and it went to -10, I bailed right away. It would usually keep going down and then when it started a slight uptick I'd be back in. I did that 2 or 3 times successfully netting about 50 bucks. Then I bought in after a slight dip and in 30 seconds it rocketed up, walked away with +350$ in about 90 seconds. Couldn't believe it. Sold when it started another dip and had a drink!!
My question to you is how you handle this with taxes? Have a feeling next year taxes are going to be a mess if this is the way the money gets made over here!!
For amounts that small I don't think the exchanges will 1099 you. I think when the government stepped in and wanted to tax and get 1099 it had to be a gain of 10k or 20k before coinbase was divulging that info. Maybe changed now
Comments
Boat Name: King Kong
"Boat + Water = Fun"
https://www.snopes.com/fact-check/hoarding-gas-plastic-bags/
FYI, my marina just filled the tank at the gas dock. Being without car fuel would be a telework blessing for me.
Looks like my favorite AMAT has really gone down. I plan to buy more of it tomorrow. I believe it will double by this time next year. Hard to believe something that is huge into supplying the chip shortage would drop down so much.
Dream 'Inn III -- 2008 400 Express
Boat Name: King Kong
"Boat + Water = Fun"
Boat Name: King Kong
"Boat + Water = Fun"
Since Tuesday, every gas station around here has had plastic bags taped over the pump handles. Driving home today, I'm 10 miles out, and the car's computer says 5 miles to empty. I'm trying to make it home by turning off the air conditioner and drafting trucks like a Prius hyper-miler.
Then I got lucky and found an open gas station. I only bought 5 gallons because I didn't want to get shot.
Why did this happen? Because people are stupid. So go make some trades -- because, people!
Can't seem to bring it up in thinkorswim. Need a defined candle chart to read it. Can try other charts and let you know
Today was a rough day for crypto, but AMC hit 14 bucks and GME was also up... gotta love those two stocks!!
Yep. The saying is date them but never marry them...lol
Yeah I saw that chart but it doesn't have candlesticks. Japanese candlesticks show OHLC (open, high, low, close). Having that info shows the psychology of the market. If a stock opens at $12 but then falls to $5 then pops back up and closes at $14 show the bulls won that battle and were in control. A line chart doesn't give that information. Based on the chart you put up I'd say don't try to catch a falling knife, meaning wait until it starts to base then reverses back up, maybe on a daily chart.
Boat Name: King Kong
"Boat + Water = Fun"
My question to you is how you handle this with taxes? Have a feeling next year taxes are going to be a mess if this is the way the money gets made over here!!