Stock Trading -or- ReconSWS's Bane

[Axel]

I see a crazy run-up from the end of January followed by an appropriate correction giving back some of those gains. The rocket towards the end of the chart runs from Feb. 1-10, followed by correction and a smaller upswing basically settling back to the same gentler upward trajectory from before the spike
granted, I am not especially tech heavy but it's a similar story for Palantir

[ReconSWS]

Nice man, your killin' it!

[ReconSWS]

This didn't age too well.

Anyone else taking a beating on their high flying tech stocks?

Buy the dip, obviously (assuming it will continue to dip til friday). Then sell the next leg up.

[ReconSWS]

I should try inversing myself one of these days...

[gabe]

I bought the dip on PLTR and then it just kept dipping....

[gabe]

I got some Etherium too. And SPCE, and ARKK, and PLTR. It's just not been a good couple of weeks...

[ghilliesuit]

Got any loss porn you'd like to share?

[gabe]

Perhaps some loss porn after my portfolio's fall from grace is fully realized. It's gonna be a rough few days ahead.

[ReconSWS]

I bought the dip today! I'll book it as loss porn instantly, put me down for a -700 loss. I don't want to reveal my global losses lol don't ask.

TSLA 3/5 830c x 10
TSLA 4/1 1450c (april fools) x 10
SPY 3/19 401c x 10

Obviously, stupid as fuck. But, a little bird told me Robinghood enabled 0DTE options, which means there is a SLIM chance we get a TSLA double up tomorrow roflmao.

A 0.00000000001% chance.

Edit : It'd be neat if one of these after hours google glitches decided to mean something one of these days .....

[ReconSWS]

Stocks kinda boring NGL. Swapped my shit at break-even-ish for a 'bubble will burst tomorrow' play with the same moneys. (watch TSLA go to 1425 and cuck me on a potential 100x lmao). If I held GME I'd have had a 2.3x.. hahah

[sniper97]

Thoughts on big tech..MSFT, AMZN, FB, Google. Semi space? Large banks? C, WFC, BAC

[gabe]

Tech is still probably overvalued in the long term but for right now it's still at a decent discount and a good time to buy. I'd look out for flatlining and price competition in the next few years that will flatten out the tech sector. I think energy and raw goods are going to be the next thing. That's why I'm big on Tesla is they are going to be the future of energy storage and potentially generation as well. Oil is going to do great under Biden as he cuts production areas and prices go up.

Raw materials....okay here's my thesis. I work at a manufacturer of welded steel assemblies and machined aluminum parts. Steel and alloy are becoming extremely hard to get and mills are getting more selective with who they deal with and what they produce. This can only mean to me that there is a shortage in supply and demand is through the roof which will drive up prices. I'm planning on starting a position in some steel mills soon.

[ReconSWS]

Time to stock up on aluminum, thanks for the tip!

[ReconSWS]

Whose dick do I have to suck for a 50% crash in one day? I've lost far too many brain-cells to participate in the markets anymore... These contracts are all I have to show from a 2 year campaign to call the bubble burst, and these are actually all bad. Like no joke the Earth needs to experience a pole-shift or meteor strike for these to break-even. If I were an army general I'd have a 95% attrition rate with all the 0dtes and weeklies I've lost. If I were a Game of Thrones character, I'd be Stannis, and this is where I doze off sitting by a tree and die an off-screen death (assumed - but actually just leave an go be a blacksmith or something).

SPXS 03/19 40c 25x
SPXS 03/19 45c 15x
AMZN 03/19 1700p 2x
ICLN 03/19 20p 20x
QCOM 03/19 85p 10x
QQQ 03/19 97p 30x
SPXL 03/19 40p 9x
TLT 03/19 100p 20x (apparently this was an accidental hedge... but not a very good one)
TSM 03/19 90p 10x
TWTR 03/19 20p 10x

April Fools Play:
SPY 04/01 250p 33x

[gabe]

Whose dick do I have to suck for a 50% crash in one day?

I mean, I can't promise anything but you can do me for good luck

But seriously, PUTS???? What is this like 2020 still? Jpow says F&*K your puts!

I just got hosed on my GPS covered call. Strike at $23.50 since the stock hasn't been doing a damn thing for months and then all in a sudden they announce they didn't lose as much money as last year and it's through $31 leaving me unable to buy it back. Dumb. Did the same thing on INTC a couple months ago when I sold a call at $53 and it proceeds to moon out to $61. Fuck options man, I'm done. "But you're collecting theta as long as time is passing!". Dumb. Stupid. Even selling calls/puts is getting me in trouble. Good old long positions for me boiii

TBH I've gotten burned more than I've made money ever since I've strayed from long positions in blue chip companies. I'm going back to investing in REITs and Apple. Life was simpler when I was accepting "only" a 20% yearly return. Greed is the enemy, friends.

[Axel]

Welcome to the grey side. It's kinda boring, but we have cookies

[ReconSWS]

Well that was a lot of fun learned a lot mostly that I'm not a very good gambler which is worth it I guess cause I wouldn't have believed it. GG boys. God Speed. I may return if SPY hits 250 before April Fools, but, it does not seem likely. Back breaking labor is a more satisfying way to make money anyways...

[ReconSWS]

250 -> 669 realized. Gonna buy back in end of day on probably the same thing or average down my lost causes incase they be lottaries.

[ReconSWS]

Mgiht be dumb but went allin with that 669 on SPY 497C 3/19 for a minute hopefully

[ReconSWS]

Oooof should have held missed out on another half gains. Now locked in to hoping spy hits 398 today shit...

[sniper97]

[QUOTE=gabe;n104735]

Life was simpler when I was accepting "only" a 20% yearly return.

[QUOTE] I'll happily take 20%/yr returns

[Siress]

Welcome to the grey side. It's kinda boring, but we have cookies

We have chicken nuggets. They're like tendies, but small enough that everyone gets them instead of just the 1%.

Lazy investing ftw.

[gabe]

Yep lazy investing is the way.

I'm still doing covered calls and cash secured puts but only on like one stock (PLTR) that I bought too high ($30-ouch) and am happy unloading for $30 or picking more up at $22 so I just run those numbers as two different options legs and put them at 30 days out and let it ride. If I get assigned oh well I'm okay with either outcome and the option premium (about $150 a month on both options legs) nicely builds some liquidity to throw at nice lazy blue chip stocks.

[ReconSWS]

Last one, actually forever. Might as well do one more round if I'm going to quit, maybe we make it all back as they crucify the stock market over the weekend to absolve us of our sin? Or whatever biblical blasphemy I can incorporate into the justification for this play because there is no technical justification other than.... it's all time fucking highs... Either way this goes I will have to visit a confessional after an do some penance.

SPY 390p 16x expiring Monday.
SPY 377p 18x expiring Friday 9th.