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.
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Stock Market is the bottom in?
- Thread starter Peplin Creek
- Start date
Telemark
5 year old buck +
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
5 year old buck +
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
5 year old buck +
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
5 year old buck +
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
5 year old buck +
Yeah my son asked me if he should sell some yesterday. I said no.....
BuckSutherland
5 year old buck +
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
5 year old buck +
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.
Trying this newer Berkshire hathaway etf OMAH.
Telemark
5 year old buck +
What do you mean?
Telemark
5 year old buck +
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?
Turkey Creek
5 year old buck +
I saw all the talk on precious metals, especially silver in a few places..... I don't know crap about buying and selling it. But I sold some older jewelry today to fund some habitat work! LOL Should have sold yesterday, but when I was setting there today it wasn't enough to make me want to wait to see if I got lucky and the market bounced back the other direction. I don't see how any short term investors make any money on precious metals as volatile as the market looks. I do know that if I had a pickup load of silver I bought last February, I would be buying a few hundred more acres today with cash! LOL From around $32 an ounce last year this time to a high of $116 a couple days ago.
Most of the jewelry was from one of my grandmas when she passed away. I had let my wife and daughters pick out anything they thought they might wear to keep. Alot of fake stuff, but I knew there was some that was legit. The jeweler I sold to was a cool, older guy. I had a cross pendant from a necklace as one of the pieces. He asked if I had relatives from Germany? I said yes all my Great -Great Grandparents were from there minus one from Switzerland. He said well that cross was made in Germany in the 1880s...... I hung onto it for nostalgia's sake. Cool!
Most of the jewelry was from one of my grandmas when she passed away. I had let my wife and daughters pick out anything they thought they might wear to keep. Alot of fake stuff, but I knew there was some that was legit. The jeweler I sold to was a cool, older guy. I had a cross pendant from a necklace as one of the pieces. He asked if I had relatives from Germany? I said yes all my Great -Great Grandparents were from there minus one from Switzerland. He said well that cross was made in Germany in the 1880s...... I hung onto it for nostalgia's sake. Cool!
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BuckSutherland
5 year old buck +
From my understanding paper shorts were getting killed in the rigged US markets. Then today we magically get this massive drop in silver and everyone decided to head for the door at the same time.
Meanwhile in Shanghai the price is still over $120 for physical. The physical shortage and high demand didn't go away today, instead the "pros" are cleaning up their end of the month paper positions. Its a rigged game here. This huge drop we just had is potentially a bear trap to invite more shorts in. Much more volatility ahead.
Telemark
5 year old buck +
Same as any market. There are trends to follow, but there's always a spread between the buy and sell prices.
Telemark
5 year old buck +
From my understanding paper shorts were getting killed in the rigged US markets. Then today we magically get this massive drop in silver and everyone decided to head for the door at the same time.
Meanwhile in Shanghai the price is still over $120 for physical. The physical shortage and high demand didn't go away today, instead the "pros" are cleaning up their end of the month paper positions. Its a rigged game here. This huge drop we just had is potentially a bear trap to invite more shorts in. Much more volatility ahead.
View attachment 88581
Interesting. I wonder if I could pay for an Asia trip with a pocket full of silver and a stopover in Shanghai. That's my old stomping ground.
Telemark
5 year old buck +
That's exactly why I hate buying into an inflated market.
Angus 1895
5 year old buck +
I sold paper silver notes @ 103 or so two days ago. Maybe more, I don’t remember.
Bought some back today, and some gold notes. I can get it in 1/10 ounce at fidelity.
Just wish I had sold more!
Bought some back today, and some gold notes. I can get it in 1/10 ounce at fidelity.
Just wish I had sold more!
Telemark
5 year old buck +
Heh. I wish. I'm not buying a boat until my retirement account is over 2 million. Everything I make gets invested, and I just transfer out what I need to pay bills and taxes. When I hit 2 mil, I don't have to work anymore, so I can cut my work day down to 07-10am, and I can take off as many days as I want to. Then I can start saving up for a boat and a tractor.
