Stock Market is the bottom in?

[PatinPA]

QBTS making a big run again today. Which leads me to my next question/issue? How do you decide when to just take a profit and run and when to hold on to something. For the S&P500 companies I guess it's easier just to assume they're going to keep trending upwards. I feel better about holding something I bought at say $5 and it's gone to $10 but the 52 week high is $50. QBTS is bouncing around all time highs at $16.50-$17. How do you value a company and think the stock is going to continue going up?

 

[jsasker007]

The way I understand it QBTS is only going up because of the name. They are nowhere near the top of the field in Quantum. IONQ,RGTI,QUBT are all much better qualified. The vast majority of investors have no idea what the own, they just buy the name. jmho

 

[jsasker007]

OPEN has been on fire lately and is basically just the latest meme stock that is popular right now. Crazy volume and going viral on Reddit and X. No idea why. Idiots on Reddit are claim short squeeze with everything all the time. Once in a blue moon you actually have a short squeeze. The rest of the time the hedge funds can short a stock right out of existence if they feel like it. They have the funding to do it and get away with market manipulation because the "right" people are the ones profiting. Like politicians knowing they are going to pass billions in funding for a certain sector and invest heavily in stocks that will profit from it a day or two before the rest of us know. Illegal as hell. doubt it will ever stop.

 

[bwoods11]

I wish those Reddit guys would drive up SiriusXM ! They did it once & it went from $3 to $7.80 and I was able to sell quite a bit at 7.24.

Now it’s reverse split 10-1 & it’s only at $23.50 So basically back down to $2.35 (before the split)…

 

[Wind Gypsy]

I'm up 70% on ETH but I only have $400 into it unfortunately. I was just dabbling into crypto.

AMD has been climbing quickly too.

Thats a nice gain.

I recently threw out an early generation "smart" HDtv that no longer worked with most streaming apps and got really glitchy. I purchased it from a friend used for 1 ETH when that was worth about $300.

 

[jsasker007]

NAK down another 40% today. Now I'm getting back in.

 

[jsasker007]

Things that are working for me today. WOLF,IXHL,OPEN,NAK.

 

[bwoods11]

Applied Digital is having a good day, it’s been up & down !

 

[Sugar*Land*]

OPEN has been on fire lately and is basically just the latest meme stock that is popular right now. Crazy volume and going viral on Reddit and X. No idea why. Idiots on Reddit are claim short squeeze with everything all the time. Once in a blue moon you actually have a short squeeze. The rest of the time the hedge funds can short a stock right out of existence if they feel like it. They have the funding to do it and get away with market manipulation because the "right" people are the ones profiting. Like politicians knowing they are going to pass billions in funding for a certain sector and invest heavily in stocks that will profit from it a day or two before the rest of us know. Illegal as hell. doubt it will ever stop.

Who do you follow on Reddit & X to check out your stocks ?

 

[jsasker007]

Who do you follow on Reddit & X to check out your stocks ?

I don't follow anyone, I just look at the posts and "claims" and go from there. Stocks that look promising I just buy a few and watch what they do for a while before going in. I don't have any accounts or any social media other than this site right here. I can't stand Reddit and usually what those "special" people are doing I will do the opposite. Same with whatever I see on Cramers' "mad money". I don't do any options or anything on margin at all. I'm just a buy low sell high stock trader. No one else cares about my money as much as I do.

 

[jsasker007]

I don't play the actual market for the most part I play what I think the people will do. It's been working so far.

 

[hunts_with_stick]

I’ve been doing more selling then buying lately

 

[cbw]

View attachment 79100

But his actual return would depend on how much leverage he used in his purchase.


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[bwoods11]

Cleveland Cliffs is up 60% in a month !

 

[Telemark]

I’ve been doing more selling then buying lately

Same. All-time highs put me in selling mode.

 

[Hoytvectrix]

For those of you that are constantly buying and selling, are your brokerages sending you the correct tax forms? Are you using anything else for tracking these transactions?

 

[Telemark]

For those of you that are constantly buying and selling, are your brokerages sending you the correct tax forms? Are you using anything else for tracking these transactions?

Yes, my brokerages send me the correct tax forms.

Since trading is my main source of income, I have gone over to mark to market accounting, which makes things a lot easier for me.

For anyone else, you have to be very careful about not buying and selling the same asset in a short period of time. You might not be able to write off a loss if you buy the same security too soon after a sale at a loss.

 

[hunts_with_stick]

Same. All-time highs put me in selling mode.

My thoughts exactly. I holding off on selling stocks paying dividends but any that aren’t, I am selling some. Starting to get a pile of cash on the sideline again

 

[Telemark]

PLTR, COIN, and SOFI are so high that I need to take some profit. I have sold about 25% of each. I'm not sure about the rest of my strategy, but I'm working on it.

I will probably start getting back in if they drop 20% or more. I'm really not sure where my next sell level is. No mattr what, I won't sell more than half my position of SOFI or PLTR without a really good reason.

I will most likely sell all my COIN shares between 450 and 375. I just don't have the confidence or understanding in crypto to be able to hold COIN outside those parameters.

That's most of my portfolio. I do more momentum trading than investing these days.

 

[SD51555]

Guess who got his LMT back? And guess who also got it before the 11am extra 5% slide?

Oh well, $432/share ain’t horrible.

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