OT: Stock trading

[FatElvis]

This is quite the reversal - the pros are chasing the new retail stock buying crowd:

Here come the pros, chasing the retail crowd — fund manager survey shows biggest exit from cash into stocks in more than a decade

The Bank of America monthly fund manager survey for June showed the biggest decline in cash balances since Aug. 2009, a drop to 4.7% from 5.7%.

www.marketwatch.com

"A net 78% say the stock market is “overvalued,” the most since 1998."

Put me in this camp. Just sold off a bunch of stock this morning to get to 50% cash in my portfolio. I've been lucky and managed to stay ahead of the market for far too long – the law of averages is a cruel mistress. The thought of trying to squeeze more toothpaste out of the tube when the world and its real-life economy are in such turmoil gives me hives.

 

[Jay-Bone]

Why hasn't it done anything in the last few hours? This is so boring, I might as well get back to my day job. J Pow keeping it flat now?

 

[huskyinfl]

Let's see some options trading if everyone is so talented!

 

[Jay-Bone]

Let's see some options trading if everyone is so talented!

Do we have the option to just swing trade shares? Pun intended. Options are too complicated for me. Like I prefer blackjack over craps. But I hear options are great under high volatility. Because you're more likely to hit your mark at some point.

 

[XLCenterFan]

It's official - the professional investors are mad. They went from having fun with the Robinhood crowd, to laughing at them, to now insulting them and praying for their demise. I must admit, I never took one finance class in college but I have always invested, with no advice. Now everyone is seeing it's doable. Finance guys can surely help you in many aspects, but if you're just looking to make some money buying blue chips or dividend stocks, you really don't need to pay someone to do it. If you're an intelligent person, you can see how consumers are spending and make intelligent decisions on your own.

 

[Jaker]

It's official - the professional investors are mad. They went from having fun with the Robinhood crowd, to laughing at them, to now insulting them and praying for their demise. I must admit, I never took one finance class in college but I have always invested, with no advice. Now everyone is seeing it's doable. Finance guys can surely help you in many aspects, but if you're just looking to make some money buying blue chips or dividend stocks, you really don't need to pay someone to do it. If you're an intelligent person, you can see how consumers are spending and make intelligent decisions on your own.

yes, so easy even a cave man can do it!

 

[Jaker]

The only thing that will slow down this market is Left Wing agenda.

 

[Bobol]

IMO if you don’t follow stocks closely you are best sticking with index funds
SPY
XLK
SMH
QQQ
VOO
and other indexers

if you are following individual stocks I favor the tecks and e-commerce
SHOP
AMZN
SE
DOCU
TTD
CRWD
ARKK
SQ
ZM
and others

good luck.

 

[UConnSwag11]

 

[JimHurley]

I have to disagree with this tweet. Millennials are not convinced quarantine is over. They are long-term investors who are buying these stocks that are down massively from their highs. If the people buying these plan to hold for >10 years, they are great investments. Cars, Airlines, Cruises, and Entertainment will all be back to normal at some point. Maybe not anytime soon, but at some point they will, and their stocks will reach all time highs.

 

[Tenspro2002]

I have to disagree with this tweet. Millennials are not convinced quarantine is over. They are long-term investors who are buying these stocks that are down massively from their highs. If the people buying these plan to hold for >10 years, they are great investments. Cars, Airlines, Cruises, and Entertainment will all be back to normal at some point. Maybe not anytime soon, but at some point they will, and their stocks will reach all time highs.

I think there's some of both.
A) Long-term investors getting good future value at a discount
B) Gamblers betting on short-term gains propped up by the Fed (i.e. the entire rally since March)

I mean, the gamblers have been right so far. I bought airlines expecting to hold them for a few years (idea A), but then sold them after they surged much faster than I expected.

 

[UConnSwag11]

Can someone explain the pros and cons of using Robinhood and Fidelity?

 

[huskyinfl]

Robinhood goes down and doesn't let you trade, front runs you, sells your data, forgets to program for a leap year. Gives a 20 yr old 700k of margin with a sad end...

Be very careful with your tendies boys the market can be cruel.

 

[superjohn]

Can someone explain the pros and cons of using Robinhood and Fidelity?

Nobody who is serious at all about trading or investing uses Robinhood.

 

[pauliepeppas]

Nobody who is serious at all about trading or investing uses Robinhood.

Bingo.....WeBull is 1000x better

 

[uconntoatl]

Research Chainlink....don't think you'll be disappointed in your findings. Up from 18 cents a couple years ago to 4.00 ish dollars today. For what it can be in the future, it is still severely undervalued. Partnerships galore and will dominate data feeds into smart contracts via oracles in the defi world. Internet 3.0

 

[tentoes4rings]

Today was a frustrating day. All my stuff is geared towards or can do okay in a pandemic. Even when Nasdaq was up 100 half my stuff was down. Had the feeling of a rough day and turned out that way. Hope you guys fared better. Anyone familiar with quadruple witching and how it may have adversely affected the market today?

 

[UConnSwag11]

Research Chainlink....don't think you'll be disappointed in your findings. Up from 18 cents a couple years ago to 4.00 ish dollars today. For what it can be in the future, it is still severely undervalued. Partnerships galore and will dominate data feeds into smart contracts via oracles in the defi world. Internet 3.0

And XRP. Look into it. Its going to change the way payments are processed

 

[Scot-e]

Research Chainlink....don't think you'll be disappointed in your findings. Up from 18 cents a couple years ago to 4.00 ish dollars today. For what it can be in the future, it is still severely undervalued. Partnerships galore and will dominate data feeds into smart contracts via oracles in the defi world. Internet 3.0

I like this company as well. Strong partnerships- good team.

 

[Scot-e]

And XRP. Look into it. Its going to change the way payments are processed

XRP for me is more of a buy- then sell on the run up. I think there are many players in this area and the fact it is not decentralized is concerning and probably will be to banks down the road as well. It’s a good 1-2 year hold then bail.

 

[UConnSwag11]

XRP for me is more of a buy- then sell on the run up. I think there are many players in this area and the fact it is not decentralized is concerning and probably will be to banks down the road as well. It’s a good 1-2 year hold then bail.

Yeah, All this is based off of the Ripple network which uses XRP. Big banks, central banks, remittance corporations etc have already begun using the Ripple network. It should explode soon

 

[Waquoit]

I did a search for "candlestick" on this thread and it came up empty. Does anyone here do any analysis or are you all just taking stabs?

 

[Scot-e]

I did a search for "candlestick" on this thread and it came up empty. Does anyone here do any analysis or are you all just taking stabs?

My partner is a charting G-D. We have raspberry pies -mini servers running trading bots based on his charts - algorithms and fib levels of course. I spend a couple hours a week with him looking at charts but don’t personally do it everyday- I’m not a day trader.

 

[tentoes4rings]

I did a search for "candlestick" on this thread and it came up empty. Does anyone here do any analysis or are you all just taking stabs?

It’s a great question and a good one for investors in general now. Growing up, I learned about the market from my dad, who would show me charts, look at P/E, debt etc. Now so much of that seems to be disregarded that it’s feeling eerily similar to the Dot Com Bubble. I use stockcharts.com with a filter for 20, 50 and 200 day moving averages. But I have to admit, more times than not I’ve been buying big tech like Amazon, Tesla etc after a dip. It has served me well so far but I still chase some things too and get hurt by it at times. It’s smart to be rational and use as much technical information as possible but many huge runs by young companies or “overpriced” heavyweights would be missed if people were always rational. It’s a very inexact science and very dependent on someone’s pain/risk tolerance and time horizons.

 

[XLCenterFan]

Can someone explain the pros and cons of using Robinhood and Fidelity?

I used to use Scottrade...then it became TDAmeritrade. I now use Robinhood. It is fine for what I am trying to do. I only buy and hold long-term, and I buy in small increments - usually between $200-$1000 at a time. I do not mess with options or margin. Because I am long-term buy and hold, I don't even care if the site goes down for a day. I'll just buy tomorrow. If you're the type to buy and sell on a daily basis, I wouldn't recommend it.

Also, you need to upgrade to Robinhood Gold if you want access to larger amounts. While I do like that they basically front me my funds, before they clear from my bank, it has a $1000 limit. For example, if I want to buy a share of Zoom (around $240), I initiate a deposit, and the funds are there to buy the stock instantly. However, a few weeks ago I tried to buy 5 shares, and deposited about $1200, but only $1000 was available instantly. I had to wait about a week for my deposit to clear to buy the last share.