Stock Market

J3ff

MarkB said:

Why should GME hit $1000?

Why should it be at 240 ish as it is right now? lol

The reason why this started is because someone noticed Hedgefunds shorted the stock 140% at 4 dollars. Since then the HF's say they aren't in it. I guess we'll see who's telling the truth and who isn't. 

Dream_Inn

Well, no stock buying today, everything is going up.  But, my buying last Friday when was down sure looks good right now.  It's all for long term, so we'll see in a year what it looks like. 

I'd like to see more a dip for the entire market, or even a correction, in the next month or two.  I still have more $ on the sidelines that will go back in funds (not individual stocks) thinking there's gotta be a better opportunity, like a good 10-15% correction would be nice.  I keep creeping a little back in as the dips go down, but that just doesn't get it!

randy56

GME scares me, I see it went up $40 today. You must be quick to get out.

J3ff

randy56 said:

GME scares me, I see it went up $40 today. You must be quick to get out.

Still IN. only have 4 shares at 43. WISH I had bought 40. 

Dream_Inn

That's always easy to say after you know.  Right now I wish I had bought even more last Friday, but glad I did, especially the EV stuff.

I also really wish I hadn't pulled so much out almost exactly a year ago and then still only worked about 40% back in.  It was a good save from the huge dip, but didn't get all the amount up. Just can't worry about it.

Willhound

Having been in the business I know better, but I can certainly appreciate the emotional side of investing people experience. My little $500 stake in Bitcoin immediately went up to about $560 within two days and I should have sold and bought myself dinner. But I held on looking for more (greed) only to watch it drop 20% overnight (despair). So of course I didn't want to sell at a loss so hung on (hate to lose) and it's slowly risen back into the black again, so I know I should just get out of a highly volatile investment that has no valid financial basis and I don't really understand, but my emotions are saying, it's ok, you're in the black (comfortable) , and back to greed is saying, wait, it should still go up.
A never ending cycle. 

randy56

A never ending cycle. Where is the balance between risk and profit? Or loss, riding  one down, awaiting it to come back up. In hope's you will recover and double up. 

J3ff

Well.. GME hasn't been a regular stock since the HF's shorted it 140%.. that's the only reason people are holding on to it. 

Currently at 286!! +40 bucks overnight! 

Dream_Inn

I'd say sell GME right now while it's up another 20%.  Guaranteed you'll wish you had!   (I can't play that game, but man if you time it right, you'd be up big time)

J3ff

Dream_Inn said:

I'd say sell GME right now while it's up another 20%.  Guaranteed you'll wish you had!   (I can't play that game, but man if you time it right, you'd be up big time)

Can you believe that someone cut the fiber line 3 miles from work and it knocked out ALL internet to the entire community I work in?? This immediately caused a couple thousand people to hop on their hotspots, which overwhelmed the ONE tower we have here... I was barely getting updates except for text messages. Forget loading fidelity's trader pro app!! Got in to the web version and pressed sell on the webpage as it was falling and it never went through!! Argggg. Oh well, easy come, easy go. Gme ended up higher at closer today than it did yesterday, just missed out on 40% gain that happened around lunch. Then also missed the chance to rebuy when it fell 60%... 

Even with the fall, still up 100's of dollars ha ha! If I had more than 4 shares it wouldn't have been funny!! 

Hopefully tomorrow some construction worker doesn't cut the comcast fiber!! 

randy56

Good luck J3ff I hope you win.

boatman37

I have been focusing more on swing trading recently because of my job but in this market swing trading is difficult. I did sell my TSLA calls today for small profit. Paid 305 about a week ago and they were down to about $85 a few days ago. It was pretty much a lotto where I either lost $305 or made something. I was looking for a much larger profit but they expired next week so I sold today for $360. Not much profit but better than losing money. Also scalped TSLA calls a little later for a quick 10% profit again (only about $40 profit). But it adds up. I bought PEP calls a few days ago on a weekly reversal but they started dropping pretty hard early today so I stopped out then later they ran right back up and hit my target. My entry was a break over 133.41 and my 1st target was 134.34 and target 2 was 135.07. 1st target was hit today. Only about a $1 move in stock price but about $50 increase per contract in call options. That's the downside to tight stops.

J3ff

Hey any win is a win!

Willhound

Your Internet issue highlights a problem with modern stock market trading @J3ff
In future conflicts and battles will be fought in cyber space (they already are) because if you shut a nation's telecommunications, power grid etc., you "kill" them.
But back to the stock market. Something that a lot of people don't realize is that when you wish to buy or sell a stock or other investment there is a "bid" and "ask" with the bid price being what someone may be willing to pay for it, and ask being what someone would like to sell it for. If your stock is trading at $100 you might get the $100, you might get less. Perhaps much less if the stock is thinly traded and value is falling rapidly. Or as was the case with GME a while back, a free fall and rapid sell off will trigger a market halt which means you can't sell it at all. And when trading resumes it may or may not be at the same price as when trading halted, it is usually much less as panic selling resumes. 

J3ff

Yeah, I try and use sell/buy limits and set it right below or above what I want..

GME on the slow run up this morning... at the very least it's FUN to watch!! 

randy56

Investor confidence is back, with passed relief package, and good jobs reports. I recovered $4k in the last two days. from last week's mini crash. Looking for upside Friday.
My buy today was, PRMW

Dream_Inn

I agree Randy.  I did a lot of buying last Friday (a week ago) with my cash, but only put partial (maybe a couple more percent) of my retirement back in.  Wishing I had put more back in, so maybe on the a little dip today I will.  But, the good news is I'm up almost 10% since last Friday.

J3ff

Meh, was a sideways day for me, I suppose one nice thing is that AMC is up a few bucks and holding. Pretty crazy that GME's new "price" seems to be in the 250's.. 

Willhound

Bitcoin at an all time high. Up 1000% in a year. Wish I'd dropped a grand into it a year ago.

Aqua_Aura

Yep definitely wish I had kept my 2 at $600 ☹️. 

Willhound

I'm going to let it ride for a bit. It'll bug my a$$ to lose the $500 I put in but it'll bug me more if I walk away and it takes off again. 
 I see a big run up in Chinese investment since their government killed off their own crypto last year. A company called Meitu from Hong Kong just dropped $40 Million into BTC last week which is likely driving the latest jump.
 

boatman37

I have some BTC I bought at about $25,000. Not much but I have more than doubled my money. Problem is I'm using Coinbase and you can't bring up their charts in Thinkorswim. Might try Trendspider ot TradingView to pull up those charts. Planning to sell off about 1/2 to 2/3 when I see a pullback and buy again at the dip

randy56

Anyone looking at oil or Marathon, Shell, any others? looks like oil will continue to raise. I'm looking at MRO. 

aero3113

randy56 said:

Anyone looking at oil or Marathon, Shell, any others? looks like oil will continue to raise. I'm looking at MRO. 

I’m confused why they are rising, there has to be sooooo much surplus from this past year.....

LaRea

Do you guys invest in alcohol producers?  Too bad Bacardi is privately held.  They own Bombay Sprits Co, and I could probably keep all of your portfolios in the black.  

J3ff

I still say the GME rocket is coming, it'll be epic, going to crash the entire market!!

boatman37

Oil is speculative. They know supply will go down the next few years so price is rising.

Aqua_Aura

aero3113 said:

randy56 said:

Anyone looking at oil or Marathon, Shell, any others? looks like oil will continue to raise. I'm looking at MRO. 

I’m confused why they are rising, there has to be sooooo much surplus from this past year.....

I think OPEC is holding back production to increase prices. There is more involved than that but I guess that's the simple answer I heard. 

Dream_Inn

randy56 said:

Anyone looking at oil or Marathon, Shell, any others? looks like oil will continue to raise. I'm looking at MRO. 

So, I have an order in for MPLX which is a subsidiary of Marathon, but also gives decent dividends.  I believe I have a buy when it drops below 25, but of course it got in the 25s and now up over 26.  I do have a decent amount in SLB, which is oil equipment (cutter bits, etc).  They have done me well, only wish I had bought more and sooner.  I also have an order for Sunoco dropping below 31.  It has a great dividend over 10% as well.  I've watched OXY, CVX (Chevron) and XOM (Exxon), but hadn't bought any.  I think for long term, SLB, MPLX and SUN are all good oil investments.  XOM and CVX will go up, but I think they've already gone up quite a bit.

LaRea, there are one or two liquors I've looked at investing in, but I feel though would not go up as much as others thing when we open back up.  Alcohol was big during the pandemic (not that it won't stay up, just not increase as much moving forward).  Just my .02

Willhound

aero3113 said:

randy56 said:

Anyone looking at oil or Marathon, Shell, any others? looks like oil will continue to raise. I'm looking at MRO. 

I’m confused why they are rising, there has to be sooooo much surplus from this past year.....

Actually probably very little. Most resource based companies vary production with market conditions. I'm more familiar with mining having grown up in a mining community, however oil is the same. When doom looms they severely cut production for several reasons. No sense pulling it out of the ground and refining it at a high cost with no hope of selling it. You have to pay to store it, deal with environmental factor's etc. If you cut production you also control market price through supply and demand. The initial drop in gas prices last year was because of product already going to market and the market suddenly halted. You will notice gas prices have increased lately as things in some areas are starting to improve, people are moving around a bit more, industries are ramping back up. So production will start to increase and value should rise. Two of my star performers this past year were oil and natural gas producers and related infrastructure. Everybody bailed out when the market dropped so stock prices dropped.
I bought and they have done nothing but go up since then. About 30% so far in the last 12 months. @randy56 maybe on to something.