Stock Market

J3ff

530am and AMC is at a new all time high! GME up a bit from close too.  BB is up as well. 

PickleRick

Id hate to sell AMC only to see see them hit 200.   Im at work all day so it's hard to watch the stocks until after they xlsoe

Dream_Inn

PickleRick said:

Id hate to sell AMC only to see see them hit 200.   Im at work all day so it's hard to watch the stocks until after they xlsoe

Remember, if you take it at a good profit, don't worry about missing out on the top.  Because it will go back down and go really fast.  I also don't play those Meme stocks cause my stomach can't take it.  The day I put money in AMC I'll let you all know.  Cause that will be the day to get out of it!

That said, just yesterday I'm up $9.9k.  It is of course long term, so I'm sure it'll go back down a little too.  What I call my dividend stocks have really been doing awesome.  These are BGS, NRZ, IBM, NLY, FDUS, SUN, HTGC, T, ENB, EPD, & MPLX.  I'm up 14.7% and that is the average of starting a little in December and sprinkling it in since.  So really just a few months worth.  That also does not include the 6, 8 or even 10% dividends I'm getting!  AMAT is still doing crazy great too!  Some of my higher risk, RIDE, CCIV, CELZ, RKT, well, they got a lot better recently.  

Somewhere down the road this is all gotta have a big correction, right?  I'm keeping some powder on the side for the long term if that larger correction happens.  Putting it in then will be the only thing that helps me stay sane thru it.

Willhound

@Dream_Inn said "Somewhere down the road this is all gotta have a big correction, right?  I'm keeping some powder on the side for the long term if that larger correction happens."
Very sound strategy. Always have a chunk in cash or money market (usually 20 to 30% depending on the size of the portfolio) for just that reason, or if a life event occurs that requires easy cash....you know, like that next Rinker   
And now for my next blue chip pick/rant.
Wife got into TD Bank (TD on both TSE and NYSE)
Held for 14 months, 57% gain. We are so not watching it that we forgot our advisor had suggested even buying it, I just happened to see it when checking some balances in accounts this morning. All the Canadian major banks have had a phenomenal year for a couple of reasons.
1)They do not lose money....EVER 
2) Part of the reason for that is our highly restrictive bank act that regulates how they operate and what risks they can take with their assets (customer's money). Market and business restrictions aren't always seen as positive but in this case it's good.
3) The doom and gloom of forecasted personal bankruptcies and foreclosures due to the pandemic did not occur. Two reasons I think, as a result of point 2 above, borrowing money and getting a mortgage is a lot tougher in Canada to begin with so those marginal customers are fewer, so although some downturns, the big hit never came. And, typically Canadian, there is a huge reluctance to declare personal bankruptcy and people have kept their payments up regardless of personal financial situation.
4) The doom and gloom predictions drove the stock prices down a bit (about 10%) but has done nothing but rise since.
5) In the U.S. you can trade most of the Canadian major banks on the NYSE in USD, but a consideration is by buying on the TSE in Canadian dollars you immediately gain a roughly 27% advantage due to currency exchange. Now of course, when you decide to cash out and convert back to USD the reverse could happen, but our dollar was at par as late as 2007 and could happen again. OR, keep the money in CDN for when the sh!t really hits the fan and you decide to move here....or at least visit, you know you want to!

YYZRC

I also bought TD at $55/share. Very happy, and can’t wait for the big dividend hike!

PickleRick

Sadly I bought into AMC too early and was paying about 16 a share.  Had I been patient I'd have waited a week or so and paid 4-5 bucks (USD for you canucks)

I sold it all today but I'm not sure if it will credit me for when I sold at 9am or for where she sits at closing today as I've never sold stock before.  If it's locked me in at 125 I made out like a bandit.  

J3ff

Gotta find a broker that lets you buy and sell at 5am EST.. was locked out of selling at the high today both for GME and AMC

Willhound

J3ff said:

Gotta find a broker that lets you buy and sell at 5am EST.. was locked out of selling at the high today both for GME and AMC

You can only trade a stock during the period the market it trades on is open. Has nothing to do with broker or trading platforms. If it is trading at 5 a.m. it's on an overseas market, likely Asian, which should be a warning sign right there. Some of those markets are like the wild west. Too much ability to manipulate pric through rapid high volume trades.

PickleRick

I use my wellsfargo app.  I didn't want to use an app that required 1500 or more cash on account to buy/sell/trade

J3ff

Willhound said:

J3ff said:

Gotta find a broker that lets you buy and sell at 5am EST.. was locked out of selling at the high today both for GME and AMC

You can only trade a stock during the period the market it trades on is open. Has nothing to do with broker or trading platforms. If it is trading at 5 a.m. it's on an overseas market, likely Asian, which should be a warning sign right there. Some of those markets are like the wild west. Too much ability to manipulate pric through rapid high volume trades.

So how does the price move starting at 4am? Fidelity let me buy at 7am today (EST).. Talking GME/AMC/BB

Willhound

Trading on a submarket or overseas in a different time zone.

J3ff

Funny how they all move at the same time.. Hmm.. how could that be? /s

boatman37

You can trade before the market opens if your broker permits it. I know Robinhood you could not trade until 9:00AM EST but most others you can start at 4:00 or 5:00AM. I'm not sure the exact time cause I don't trade stocks and options don't start until 9:30 no matter who you are with. I see guys in our Discord channel all the time trading stocks at 7:00AM.

boatman37

J3ff said:

boatman37 said:

Pretty good day for me. Made money on TSLA puts twice, NVDA calls, SNOW calls, EBAY calls, TLRY calls and lost on GOOGL calls. Still holding EBAY and TLRY calls

Really wish I could stomach the move to calls. Just kind of held up on losing money like that when it doesn't pan out. 

The charts and trading is the easy part, the discipline and mental attitude are the hardest part. If you go into a trade and get nervous then you went in too big. I went into AMZN calls once for $9500 and realized quick it was too much for my liking...lol. I made about $200 on it but I could feel the nerves and that affects your thinking.

I found that setting a stop and target when I enter it takes the emotions out of it. You really don't need to look at it again after that. It will either sell for profit at your target or stop you out at your pre-defined loss. I typically only go into a trade for between $300-1000 but my stop is usually no more than about $50-75. Yeah, now you can see why $9500 was too much...lol.

In a sense options are safer than stocks. Yeah they move quicker but if you pay $300 for a call contract you can only lose $300, no more than that. If you are holding the stock and it has really bad news overnight you could lose much more. Currently I'm holding EBAY calls but I only paid about $135. I don't plan to lose the whole $135 but if I do then oh well. Right now it's worth $200. Hoping to sell it tomorrow. Had TLRY calls I paid $185 yesterday and sold them this morning for $435 for about 130%. Worst case was I would lose $185. I move my stops up as I go. My stop on EBAY is now at breakeven so as long as it doesn't tank overnight then the worst I can do is break even on it.

If you are interested search Twitter for hashtag #TheStrat and look for @BigOMoves. He has a free Discord room where he calls out trades. @AlexOptions is another one that has a free Discord room but I'm not in it. Both are very good traders though. Also look for @TradeSniperSara on Twitter and watch her youtube videos. She trades full-time and is very good with The Strat. The Strat teaches you that if you are right it will go right away so tight stops are important. I have some youtube videos too under optionizerSS if you want to watch them.

I get nothing from it either way but just sharing it if anyone is interested. It isn't easy but can be done. You can even use these principles on longer term trades.

randy56

Up $500 today, shame it's not everyday. Day trading still looks like  a tough way to go. Guess just don't want to put the effort in to learn. 

J3ff

Well today wasn't a great day for me. Def down the most I've ever been, however it's prob less than you guys have been lol. Fridays are usually not exciting. Staying in and waiting for the squeeze on any of AMC/Gme/BB. If what people say is happening actually IS happening, my small investment will turn into a huge win.. but if it never happens oh well. I think that's the problem these hedgefunds have and they'll never be able to beat it. The 4 shares of mine of GME I will NEVER let go unless it goes nuclear. When millions of people think like that, you cannot beat them. 

randy56

Hard to play ball with the bulls, when they will through a million at something. Got a stock tip from reliable source. Have not bought it yet. What do you guys think. RBLX 

boatman37

RBLX is a hot one right now. I haven't traded it but hear it thrown around alot. I generally stick to my little group that I watch. Today I traded GOOGL and TSLA calls for wins and had a bunch of other smaller wins and a few losers. I'm still going in very light on each trade and made about $515 this week in one account and about $150 in my other account. Had similar numbers last week too. Just hope I can keep it going then I will start going in larger. These last 2 weeks haven't been great for trading but has been good for me. Hoping we get back to some more tradeable stuff. Most of my wins this week were inside week break and inside month breaks. GOOGL and TLRY were inside month breaks. TSLA was just scalping breakouts or breakdowns. I scan at the end of every month and every week looking for inside months/weeks then look for what direction the recent trend has been then look for a break of the inside candle for an entry. Also entered TWTR calls today on monthly reversal to the upside (2-2 reversal in strat terms) and there is a $5 gap on the daily chart to the next target. Gaps usually fill so should see a $5 move up to $63.99. My entry was at $58.61 but I'm trading the June 18th monthly $60.50 calls. Bought 2 contracts at $1.10 each ($220 total cost). Will look to add at strategic points and will keep moving my stop up. 

Michael T

@Dream_Inn has, in my opinion, expressed a key point in investing. If you have made a good profit don't worry about missing out at the absolute top. Squeezing the last nickel out of a stock AKA "pigs get fed hogs get slaughtered" is a fool's game. At that point you are chasing diminishing returns against escalating risks. A long time investing advisor of mine has always advised "you can't time the market"  I only agree somewhat with that. Yes, the big funds can buy and sell so fast that the "ordinary" investor can not only be frozen-out of the action but actually harmed financially. That said, opportunities to time the market present themselves a lot and it depends on your willingness to participate. In the not too distant past the DJIA dropped 5K points. IMO this was a no-brainer investment moment. I informed our advisor that we were going to invest considerable money into a number of stocks. The advisor was concerned and cautioned "you could invest all this money and the market could still drop further" We replied (using an elevator as an analogy) if we get on the (investment) elevator on the third floor and it drops to the first floor we won't worry because if we have done our homework and read the situation correctly the elevator is heading to the twelfth floor and that will be fine with us. Again using @Dream_Inn's analogy for selling before an absolute "top" it isn't also necessary to buy at an absolute "bottom" to make a lot of money. There are about 4 trillion dollars sitting in cash on the sidelines. It has to go somewhere. I remember an "expert" saying the DJIA will never, ever hit 35,000. I'm now reading opinion pieces that it is just a matter on time until the DJIA hits 40,000. IMO - no question about that.

boatman37

^ agreed 100%. I never try to catch the bottoms or the tops, only a chunk of the middle. If you look at price action and The Strat we focus on reversals but we need to wait until we get a break above a previoss candle so we miss out on the whole lower 1/2 of that candle and that's fine. When I sell I have my target set before I even get into the trade. If it goes higher then that's fine. It hit my target and I'm happy with that. There are other strategies that can get higher targets but I'm more on the conservative side. If you try to catch tops and bottoms you will lose in the long run.

boatman37

Here was my watchlist for this week/month. I posted this to Twitter and youtube Monday evening (market was closed Monday). Looks good so far. https://youtu.be/RdulmIGgpaU

INSIDE MONTH:

AAL triggered and came within .05 of hitting target 1 and still alot of time left in the month. Also this is why I sell a little short of target. I did not trade this one

EBAY triggered and easily hit target 1. I did trade this one

GOOGL triggered and I took small profits but it is still quite a ways from it's target but still over 3 weeks left for it

MSFT has not triggered so no entry

SBUX has not triggered so no entry

INSIDE WEEK:

CAT triggered and hit target 1 but I did not trade it

LOW has not triggered so no entry

WMT has not triggered so no entry

1 for 1 on the weekly watchlist (other 2 never triggered so no entries

1/3 on the monthly so far but still lots of time to go and still could have made money on the AAL

randy56

Received buy and hold  two years, stock tip, do your own research, PSTG

Handymans342

Has anyone paid attention to Oil prices. Steady up for 2 weeks now and up big time at the pump. 

Dream_Inn

Handymans342 said:

Has anyone paid attention to Oil prices. Steady up for 2 weeks now and up big time at the pump. 

Yes, I wish I had bought more in SUN (Sunoco) when I did.  SLB has also been one of my good oil buys (they do the rigging and drilling). I bought them back in January.

Randy, what's the deal with Pure storage?  Think something will happen at the June 15th Shareholder meeting?

Handymans342

Storage REITs are surging

randy56

Handy gas is $3.00 Diesel $3.20 here.

Dream
PSTG has the best storage solution for data. Delivers storage as a service in a multi cloud world. Fit's  in 3 major needs, Indemandness, scarceability, ValueAbility. Plan on long hold. 

Handymans342

Picked up CLNE today at $11.15

LaRea

I see 93 gas here for $4.40/gal because of the Colonial Pipeline scam.  That's a great business model.  

Colonial had critical infrastructure that was not using two-factor authentication.  It's a basic security measure that any entry-level IT staffer could recommend.  That CEO should be put in jail.  Instead, he will make millions from the price fluctuations caused by his inattention to security.  

randy56

Handy maybe on to something, CLNE clean energy. Our local trash company switched all there trucks over. About 4-5 years ago to natural gas. Clean Energy is changing the way the world fuels its vehicles. Energy independence is an undisputed goal for our nation.

boatman37

I'm a system security engineer by trade and many of these breaches could be stopped by ensuring all updates are installed and training employees on what not to do. My current job (for the last 6 years) is running a team that is responsible for vulnerability management on about 20,000 servers across the country. Problem with many of these large corporations is they think 'we have an IT staff so we are safe'. Problem is IT and security have 2 different purposes. IT values availability or confidentiality where security values confidentiality over availability. Nothing against IT guys, I was one for several years, but they don't specialize or focus on security.