Will be interesting to see if Trump/Fed actively try to boost this thing. A red market before a long weekend is a bad look for them.
If it's like this tomorrow I'll just eat my losses and walk away. Fucking having to wait months to get my money back, besides depending on what happens in November the market could just collapse again post election night
My totally speculative view is that we see some more down days and then some up days for the foreseeable future. Kidding aside, I bet we are seriously red again tomorrow and Tuesday open and then start climbing again because the reality is US equities remain the best bet in global investing and capital will flow back in at reduced price points. A 10% pullback after the run the market has been on is probably pretty healthy. Undoubtedly, there are some amateur day traders out there who are getting put to the sword today and that too might be healthy.
my taxes are going to be such a mess, had so many different taxable events with so many different brokers already
i've been hunting deposit bonuses and shit when i didn't want ALL my cash invested so I've had accounts across like 5 brokers at this point. parked $25k with webull for not even a month, got $300 with no risk. easy. i don't have the huge trading volume, but I definitely have breadth
Looks like there could be further discounts at open tomorrow. Down 3 points after hours following news that there may be chip delays at Broadcom, which in turn would push back the next iPhone release.
Everywhere else is going negative in interest rates. Going to happen here too just not there yet. I added a bit today to AMZN and ZM but will get super aggressive adding when the VXN goes back under 33. That’s the trend line for risk off.
Sick thing about the action today was that I could have pulled a 100% return off weekly BA calls at the open if my order got filled. Thing took off like $2 right at the market open, and I didn't want to enter between levels. Been waiting for BA to break out as well so I was hesitant on buying puts when it hit $180, which is where it has been reversing lately. If I would have just pulled the trigger on that play it would have returned a 15-bagger with potential room to run tomorrow as well. I would have had one of the sickest trading weeks of the year if that happened. Things to keep an eye on tomorrow are the treasury action along with the DXY. Would like to see both shoot up to give more credibility to this downside move (also known as THE MAJOR CORRECTIVE C WAVE).
Edge of my seat here. Feels like the markets are in a car hanging off the ledge of a cliff and just the slightest move will cause them to fall into a 20,000 foot gorge. The Nasdaq keeps just slightly reaching for the door on the cliff side and the DOW is like no no the other door.
How many of you guys are truly day trading in the sense you do multiple buy/sells in a day and watch it closely “24/7”. If not, are you guys just looking for good short term investments to sell at a certain price (whether that’s a week or a year etc)? As someone who has the majority of my investments in 401K/IRA, I just wonder the best strategy for my second scenario. I don’t have the time/money/knowledge to day trade, but I like gambling enough that I’ll buy something and hold it until I see a good return then cash out, repeat. (If possible).
Whew boy I'm in an absolute freefall. Feeling like the Covid dive back in March, except I have exponentially more money in play.
same! I still have about 35% in cash but I’ve given back 1/3 of my 2020 gains the past 24 hours. Gonna keep buying on the way down as I screwed that up in March.
Very few traders significantly beat indexing over the long-haul, especially after the higher taxes for day trading. It's generally not worth it but some of us are good at it and some of us just enjoy it
HOLY FUCK at that last 5-min candle in SPY. Thing is going bidless fellas. That is a potent omen. And right as I post that it catches a bid lol. That was a nasty fall for an index product though.
That’s why I was asking, as I said most of my money goes blindly into mutual funds in retirement. But for me I do enjoy buying a little here and there, again just like casual gambling.
Volume is there for this sell-off, by the way. SPY hit over 100M volume yesterday and we are getting 1-2M 5-minute candles consistently now. DXY rising as well. Crypto smoked and smoldering. Next level I am watching for SPY is $332.50. Below that and holding anything over the weekend becomes frightening.
No thesis it's just where support was last time we had a decent sell-off. There were a few gaps we never closed intraday in SPY around 327 that I remember as well.
In my trading account I went from being down $2000 to up $190. I had to work hard scalping TQQQ to offset some of that huge AMRN loss this morning
I did get one trade in before the bell. A long-term PSTH/U option which I'm selling shorter-terms on to lower the price. Bill Ackman's SPAC. Pure gambling, anyone else in on it? cc: bRamonceTaylor
My first log in this morning it was $111 and some change and I couldn't get my wallet out fast enough. AAPL is getting to be an uncomfortable % of my account at this point.
I grabbed some short term CRM options with at 3:58PM. Hoping for a nice bounce after the long weekend