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?

 

[Turkey Creek]

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!

 

[BuckSutherland]

What do you mean?

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]

. I don't see how any short term investors make any money on precious metals as volatile as the market looks.

Same as any market. There are trends to follow, but there's always a spread between the buy and sell prices.