Financial News

[iDumb]

Good morning all. what are we trading today. i got no work today so I am planning to do some quick trades..

Tesla continue to go up.

[zman]

Originally Posted by iDumb
Good morning all. what are we trading today. i got no work today so I am planning to do some quick trades..

Tesla continue to go up.

No trading for me today. Chillin at the beach lol. I’m more into swing trading than day trading anyway as my success rate is way higher when I swing. Recently I unloaded TSLA and loaded up on CRM anticipating quick gains due to its Dow inclusion, what I didn’t expect is 25% gains overnight. For next week I positioned myself in CRWD. At 110 I started adding to my current position, expect it to blow past 130 on Sep 2. Let’s see if it happens. If it pulls back instead I’ll buy even more 😂

[iDumb]

wtf? all my online brokerage crashed. Never seen this on an open market day in my life. Td ameritrade, vanguard. Crazy. Fidelity is working.

[iDumb]

ppl gonna drag this tsla to a trillion market cap i am tellin u. the new bitcoin. This is too funny.

[zman]

Originally Posted by iDumb
ppl gonna drag this tsla to a trillion market cap i am tellin u. the new bitcoin. This is too funny.

You may be correct about TSLA. I myself added to my previously held small position on pullbacks yesterday once I felt comfortable there won't be an immediate post split pull back. As a principle I just can't chase a stock once its gone parabolic. If I didn't build a position before the move took place I just let it go. In the mean time CRWD at 130+ has gained even more than TSLA since my last post.

[iDumb]

Originally Posted by zman
You may be correct about TSLA. I myself added to my previously held small position on pullbacks yesterday once I felt comfortable there won't be an immediate post split pull back. As a principle I just can't chase a stock once its gone parabolic. If I didn't build a position before the move took place I just let it go. In the mean time CRWD at 130+ has gained even more than TSLA since my last post.

agreed. they are offering more shares? I think it's idiotic to be chasing this. I however yesterday bought tesla at 457 and sold it at 489. Big swing is a day trading opportunity i see it as - i don't hold onto things that don't make sense. i can buy it again next day.

Regret this week:
- sold docusign (dipped after purchase)
- Placed order for ZM yesterday and then cancelled just figured holding through earnings is a bit too much gamble.

Worked out:
Also bought Paleton yesterday.

because of ZM earnings beat - all pandemic.stay at home office skyroketing today.

I am about to chase all these pandemic stocks i think..

[iDumb]

My index QQQ alone is up above 30% and it hasn't even been that long, couple of months... Choosing individual popular nasdaq/tech stocks is almost guranteed to make market beating money at this point.

ok just looked it it.. i acquire qqq on april 2nd. individual from nasdaq is the way to go at this point.

[iDumb]

Apple keeps going up. LOL. I am still itching to sell.

anyways, created position in Docusign again (had sold it at 203 ) and increased paleton. Backed out of ZM yesterday from fear from earnings .. but now greed has taken over. Let's go. Wish me luck!! Docu needs to crush earnings for continued rally for the pandemic stocks..

it willl just be ripple effect as one by one report earnings... I think crowdstrike also reports tomorrow... Hopefully it exceeds expectation..

[iDumb]

Good morning all if anyone still reading..

Looks like my yesterdays trades playing out well. Today and tomorrow is crucial atleast on the stocks that I am following.. Crowdsource and Rocket mortgage reports today. Docusign report tomorrow. They have to be blowout quarters for the pandemic sector to continue the exuberance. If not, the reverse might hurt.

Rocket mortgage i would say falls into this category because there is a record number of refinances and they have streamlined it all online.... and that's what ppl like. Less human interaction, less phone calls, more internet.

Man I timed rocket mortgage purchase so wrong few weeks ago...so had no choice but to close the position. Now would I have the balls to hold through earnings after this type of quick run? Depends how much i got invested lol.

[iDumb]

classic take profit before earnings.

[iDumb]

Closed both position. Paleton with 13% gain and Docusign with 5%. One bad earnigns from any of this high flying stock, the reversal will be quick. and i am on day trading mode not investing. So discipline is the key instead of prayers.

But Paleton story is too good and is also recently upgraded with higher price target ~109. Earnings sept 10th. I think their numbers will top estimates. But so many things can go wrong in next 5 trading sessions with all the other earnings. Preservation of capital first.

[iDumb]

Good morning.

Timber! call it a luck or smart trading i don't know. the thinking played out from yesterday. Also Sold some apple shares today....should have done it couple of days ago. Valuation was getting rich.

anyways gotta sleep for work at night.

[zman]

I got rid of several positions this morning. Even with this pullback we are where we were just a week ago. Hopefully there's a more meaningful pullback so we can buy back at cheaper prices lol. My key swing trade for the week was CRWD with a target of 130. Ended up selling half at 145 into earnings and the other half at 135 after earnings.

[iDumb]

Originally Posted by zman
Hopefully there's a more meaningful pullback so we can buy back at cheaper prices lol.

I do not hope that.

[zman]

Originally Posted by zman
Nice move I was thinking of doing that myself but didn't want to add to my exposure to AMZN so I ended up buying TSLA instead. I thought TSLA was overpriced at 700 yet I ended up buying at 1100 half of which I already sold at 1500. This market is just ridiculous - you can't lose even if you try. 95% of my stocks have always been tech. 5% are swing trades on speculative stocks like MJ /oil, etc. My two largest buys in recent times are CRWD and SQ which I bought in Mar/Apr in the 50s and 60s. Currently both are trading above 100. Over the next few weeks I'm going to spend 2-5% of those gains buying puts to protect downside movement in the near future.

Here's my post from little over a month ago. I'm positioned a bit differently. Under extreme circumstances I utilize derivatives to protect myself. Stocks cannot continue to rise in a straight line forever as it has done in the last few months. In fact it's not even healthy for the market. I feel a lot safer to invest after pullbacks than I do when it keeps going up although I invest in both scenarios. I felt a pull back would happen before the elections sometime between late July - late October. So I was willing to buy protection for my key positions for those 3 months even if it cost me 10% of my gains. If you do it for too long premiums will kill you and your profits get wiped out, but I thought it made sense to do so for a couple of months in a 4 yr cycle. Whatever hit I was going to take I took already. Further downside through the end of the month doesn't hurt me much. So if a pullback is to happen I'd rather it happened now and we got it over with Anyway we're still in a secular bull market so not much to be worried about, next few days I'll avoid tech and focus more on Dow stocks like AAL, BA, etc

[iDumb]

yeah easy to say protect downside by buying put. Application is a little different. If you wanna protect your TSLA downside, you would have to own 100 shares of tsla which equates to 230,000 USD at one point to make any sense in buying 1 put contract.

If I am bullish I rather double down and sell covered put instead. Each week.

If that approach work for u its great. I can't see it working for me or anyone else in this thread where most ppl don't know their right hand from left when it comes to stocks. We literally have a guy here who hasn't bought or sold a single stock in his life yet discusses valuation endlessly.

I buy with 5k, not 500k when i am going for glory stock. Buying pure options as a leverage and hedging one against another would be better and smarter trades.

The only way i would ever consider buying puts as a downside protection would be for an index, SPY, the numbers would make sense only then for me.

[iDumb]

And I also do not agree completely with that secular bull market comment. There are tons to worry. Contracting economy. Huge unemployment. No solution in sight yet. I really don't see how one can confidently talk about bull market. This is called a disconnect. And this is how ppl get burned.

unless you automate investing. u have to justify every single move that u make - whether u will be right or wrong is a different story. ]

anyways I am losing money while i am typing .. haha... better go fix that sh$t.

[iDumb]

Don't know what the f i was doing wasting time typing all that - while market going red like that...

trimmed some individual amazon and fb holding.

[zman]

Originally Posted by iDumb
yeah easy to say protect downside by buying put. Application is a little different. If you wanna protect your TSLA downside, you would have to own 100 shares of tsla which equates to 230,000 USD at one point to make any sense in buying 1 put contract.

If I am bullish I rather double down and sell covered put instead. Each week.

If that approach work for u its great. I can't see it working for me or anyone else in this thread where most ppl don't know their right hand from left when it comes to stocks. We literally have a guy here who hasn't bought or sold a single stock in his life yet discusses valuation endlessly.

I buy with 5k, not 500k when i am going for glory stock. Buying pure options as a leverage and hedging one against another would be better and smarter trades.

The only way i would ever consider buying puts as a downside protection would be for an index, SPY, the numbers would make sense only then for me.

I totally agree with your assessment. Folks will do well following buy and hold strategy. I think it's best not to discuss derivatives and currency trading here. I just shared what I've been doing lately to save myself from getting burned after an unusual 6 month run that normally takes 6 years. It's not easy and it took years of investment banking training and experience for me to start getting comfortable playing that game. I don't buy overly expensive stocks like AMZN and TSLA for precisely the reason that you mentioned, I only trade them.

[iDumb]

Trimmed more apple.

I don't knoow wtf TSLA doing still that high.. should take atleasts a 50 to 70% beating from here.

[iDumb]

Sold all my match group and PINS stock.

[iDumb]

I can' think anymore...Should take a break. This is rough after working all night.

I guess last trade for today.. sold QQQ index.

[iDumb]

ok just woke up. TSLA actually turned positive for the day.. hahah I can't believe this !!! The cult//fomo is super strong on this one.
little surprised at the speed of recovery on overall market. I guess ppl are buying this healthy pullback story. It's true that when u actually look at the year to date chart for nasdaq, it's simply a blip.

So did any of you actually BUY anything.

I will try to get back into some fintech next week if market takes another beating. They were the only one I considered buying today. Just needed a little more downside. PYPL at 150 -160 would be a good entry point for me.

[iDumb]

https://www.wsj.com/articles/softban...ly-11599232205

The market movements make so much sense now. Time to get back in on Tuesday.

SoftBank bought a roughly equal amount of call options tied to the underlying shares it bought, as well as on other names, according to people familiar with the matter. It also sold call options at far higher prices. This allows SoftBank to profit from a near-term run-up in stocks and then reap those profits by unloading its position to willing counterparties.

This is called doubling down. Billionaires are playing like robinhooders now. Trading mindsets, not investing. Their option position data would be very helpful now to make some trading decisions. The strike price and time at which they have have sold the options can somewhat give you bullish time frame.

Just needed a couple of days like friday next two weeks creating a ripple sell off to start buying. Anyways I am gonna try to re-enter this tuesday.

In my trading accounts, i have roughly managed to go to 63% cash last week with all the selling i did with market.

I still think Paleton (pton) gonna crush earnings and could be a risk worth taking going into earnings.

[iDumb]

Today is gonna be a fun day.

I am so tempted to take a short position in Tesla. LOL. I guess would be very unwise.