Stock Market is the bottom in?

[BenA]

Green is green! Congrats.

Thanks, I just started learning this month, and still working out strategies. There's a lot of fluff out there to sift through in learning. I'm up, so there's that. I've been playing it too safe I think.

 

[Telemark]

Thanks, I just started learning this month, and still working out strategies. There's a lot of fluff out there to sift through in learning. I'm up, so there's that. I've been playing it too safe I think.

You're not playing it too safe. No such ting in this game. Just keep at it, make sure you only take the trades you feel good about, and don't let initial success make you think you know more than you actually do. When you check your metrics and they're solid, you can start scaling up your position. It's very easy to get overconfident. I had that happen to me with the Newsmax IPO. Made a lot of money and gave half of it back. Got emotionally compromised and lost my discipline. Had to take a few days off and go into "trader rehab" until I could start back with real money in small positions.

Always, always, always, manage your risk. Don't let something ride in the hopes it will rebound. Cut your losses at your stop, no exceptions. But if you get stopped out, keep watching to see if your thesis was correct and the stock moves the way you thought it would, you can potentially get back in and make some of your losses back on a second trade if the pattern still looks good.

 

[Telemark]

Seems like everything is dropping. Could this be it? The pullback we have all been waiting for?

Man I hope so! I would like to see SPY pull back a solid 10%, show a double bottom bounce and go back to business as usual. I hate buying when prices are extended, but I also hate sitting in cash at times like this.

 

[hunts_with_stick]

Lots of quality stocks are down right now but are they done dropping? MSFT,AVGO and SOFI are all down and at a good price to buy in right now in my opinion.

I have a software fund that I have some in. I invested individually in the ones you mentioned but pulled out earlier. I am debating about putting more in, but I think people have been seeing a pullback in those, so i haven't committed to more yet.

 

[BuckSutherland]

The sell off on silver must be the largest one day decline in market cap ever recorded??? Wish someone would bought 100oz from me on Monday when I was calling around.

 

[hunts_with_stick]

Yeah my son asked me if he should sell some yesterday. I said no.....

 

[BuckSutherland]

I'm not convinced the top is in. This could be a bear trap. Price of silver in Shanghai is still $123. The move we are seeing today seems to be paper and not physical. My thinking is some people that were short silver today got bailed out by the huge price drop.

 

[bigboreblr]

Sold my 20yr treasury etf since the feds didn't move rates. Bought more cvx. Noticed coca cola went up some too.

Trying this newer Berkshire hathaway etf OMAH.

 

[Telemark]

Price of silver in Shanghai is still $123

What do you mean?

 

[Telemark]

Today I'm a buyer of metals. Not doubling down with the farm deed, but I moved cash in.

Hey, man. What are your thoughts on silver? I'm really considering buying some AGQ before the market closes today, but I don't understand the silver market right now. Why are you still bullish? Do you think it will climb back to its previous highs?