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MDawg
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August 26th, 2020 at 8:21:30 AM permalink
I'll say it again, penny stocks should be avoided at all costs. This is the point of my posts where I mention CYDY. It's not about CYDY...it's about penny stocks.
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darkoz
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August 26th, 2020 at 8:40:17 AM permalink
Quote: MDawg

I'll say it again, penny stocks should be avoided at all costs. This is the point of my posts where I mention CYDY. It's not about CYDY...it's about penny stocks.



I'll say it again. Baccarat and negative expectation games with no edge should be avoided at all costs.

They can't be beaten

That's my point
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darkoz
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August 26th, 2020 at 8:49:25 AM permalink
And no one here is fooled.

You keep comparing specifically the stock choices I made with the stock choices you made.

You can make your penny stock point by using any number of penny stocks but you keep picking mine.

So directly comparing our respective choices.

Then trying to hide behind some over-arching argument about penny stocks.

It seems you wish to reignite our past war.

Not too early to keep the truce :)
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MDawg
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August 26th, 2020 at 8:50:04 AM permalink
Go post anything you have to say about Baccarat in my Adventures thread.

This thread is about stocks and investing. Technically not even CYDY belongs in this thread because a stock like that is not investing it's a 1000 to 1 shot like all penny stocks. It's not about you personally, it's about penny stocks in general.
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darkoz
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August 26th, 2020 at 9:00:35 AM permalink
Quote: MDawg

Go post anything you have to say about Baccarat in my Adventures thread.

This thread is about stocks and investing. Technically not even CYDY belongs in this thread because a stock like that is not investing it's a 1000 to 1 shot like all penny stocks. It's not about you personally, it's about penny stocks in general.



I don't invest based on odds.

I invest based on the product.

You keep ignoring the product.

BTW, you do know that Tesla started out as a penny stock?
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MDawg
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August 26th, 2020 at 9:02:33 AM permalink
Most successful stocks, such as Microsoft (MSFT), Facebook (FB), and Tesla (TSLA), all first listed their shares on the NYSE or Nasdaq with prices above $10.
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darkoz
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August 26th, 2020 at 9:04:15 AM permalink
Quote: MDawg

Most successful stocks, such as Microsoft (MSFT), Facebook (FB), and Tesla (TSLA), all first listed their shares on the NYSE or Nasdaq with prices above $10.



For Whom the bus tolls; The bus tolls for thee
unJon
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August 26th, 2020 at 9:08:28 AM permalink
Quote: darkoz



Thatís not pennies. Just hard to see because of the y-axis going into thousands.
The race is not always to the swift, nor the battle to the strong; but that is the way to bet.
MDawg
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August 26th, 2020 at 9:20:28 AM permalink
Additionally, a penny stock isn't just based on the price. For example, AMZN dipped to single digits at some point in 2001.

A penny stock is a "pink sheet" or OTC bulletin board traded stock. TSLA was never that.

If a Nasdaq or NYSE stock dips too low for too long it will be de-listed, and become a pink sheet or OTCBB. Sometimes to get past this desperate companies will do a reverse split to try to make the price appear high enough to stay on the exchange.

Is CYDY a pink sheet or an OTCBB?
For example in 2006, it appears that CYDY f'ed up and got lowered (I assume temporarily) to pink sheet status.
CytoDyn Turns Pink with Continued Quarterly Reporting to Ensure Liquidity
https://www.businesswire.com/news/home/20061211005262/en/CytoDyn-Turns-Pink-Continued-Quarterly-Reporting-Ensure
Last edited by: MDawg on Aug 26, 2020
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MDawg
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August 26th, 2020 at 11:28:16 AM permalink
Holy Canole!

a new ATH.
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SOOPOO
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August 26th, 2020 at 12:27:50 PM permalink
MDawg.... I only have 35 shares of TSLA left, and my next sell target is $500, after the split of course, so $2500 today. Not sure if you followed my TSLA story, but when it was 500 or so I told my wife she could by expensive shoes or purse if it hit $1000. She hasn't picked one out yet but it will likely be between $1k and $2k. So I sold 10 shares first time over $1000. 5 more shares at $1650. So 5 more shares if it hits $2500 ($500 after split, 25 shares).

So Ed gave us two picks.... I bought the one that is down 7% in two days instead of the one up 17%.......

As far as your penny stock take.... I'd agree that more go bankrupt than hit a home run. But I bought GLXZ at around $0.23, and sold some pre pandemic at over $2.00. So there are success stories, just they are harder to find. Not a 'penny' stock, per se, but NIO is up 6 fold since I bought it a few months ago.

Like many gambling stories... you don't see people posting much about the ones that went kaput.
vegas
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August 26th, 2020 at 4:44:55 PM permalink
Quote: terapined

Its all due to publicity
Its big news getting into the Dow club. Kind of went from unknown among the general public to joining what's considered the 30 benchmark companies to measure the market making it somewhat famous now.
If it goes down say 13% as the day traders sell off to reap their profits , Ill be happy.
If it stays, I'm thrilled.


Up 25% today!

50-50-90 Rule: Anytime you have a 50-50 chance of getting something right, there is a 90% probability you'll get it wrong
terapined
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August 26th, 2020 at 6:37:42 PM permalink
Quote: SOOPOO


So Ed gave us two picks.... I bought the one that is down 7% in two days instead of the one up 17%.......


Quote: vegas



Up 25% today!


SMG is a long term hold.
If more states legalize, SMG stock will really go up. Thats the key
They are betting big on MJ but in a unique and smart way
They are now the leading supplier of hydroponic systems. They supply the MJ businesses.

Salesforce is weird. I have no idea why the stock is skyrocketing but I am thrilled. I expected a bump due to the DOW announcement but this is ridiculous. I dont even entirely understand how they make so much money in their business.
Its just a forum. Nothing here to get obsessed about.
DRich
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August 26th, 2020 at 7:31:59 PM permalink
Quote: terapined

SMG is a long term hold.
If more states legalize, SMG stock will really go up. Thats the key
They are betting big on MJ but in a unique and smart way
They are now the leading supplier of hydroponic systems. They supply the MJ businesses.

Salesforce is weird. I have no idea why the stock is skyrocketing but I am thrilled. I expected a bump due to the DOW announcement but this is ridiculous. I dont even entirely understand how they make so much money in their business.



Didn't they just announce a quarter that far exceeded all expectations?

I think Grow Generation is the best stock in the marijuana industry. They sell the supplies to the growers.
At my age, a "Life In Prison" sentence is not much of a deterrent.
BITIFADISA
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August 27th, 2020 at 2:20:41 AM permalink
Look at this crazy market. At the last second today, just before close, I noticed AMZN at its low. I put in an order for 1675, FILLED. Right after it filled I swear I saw some bids at 1671 or so, but anyway it closed at 1675.61 I immediately entered an extended order to sell at 1680. It wasn't even a minute before this FILLED too at 1680. Nice trade! Tutuapp 9Apps ShowBox
Last edited by: BITIFADISA on Aug 27, 2020
SOOPOO
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August 27th, 2020 at 4:08:04 AM permalink
Quote: BITIFADISA

Look at this crazy market. At the last second today, just before close, I noticed AMZN at its low. I put in an order for 1675, FILLED. Right after it filled I swear I saw some bids at 1671 or so, but anyway it closed at 1675.61 I immediately entered an extended order to sell at 1680. It wasn't even a minute before this FILLED too at 1680. Nice trade!



I have no idea how much 'trading money' you have. Let's say you have $170,000 that you can trade, sort of like a bankroll for an AP gambler. So you bought 100 shares, tying up your entire bankroll until you sell, and made $500. Good trade. But what if at the end of trading some bad news came out and it dipped to $1500? Do you have the time to sit and wait for it to come back? What if the stock was Enron (I bought some!) and it never comes back?

Anyway, welcome to the forum... and good trade!

And answering Ed.... yes... i agree that SMG is a long term hold.... I also own an ETF that tracks marijuana... MJ.... down around 10% from when I bought it.
MDawg
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August 27th, 2020 at 7:30:24 AM permalink
It would appear that the other day when CYDY popped it was due to some hypesters' passing around a falsified or misleading video implying that CYDY had been included in Operation Warp speed. When the truth (or at least what is considered to be the truth) came out, the stock dropped and has continued to drop.

This just gets back to what I said initially - penny stocks like these are very susceptible to manipulation on both ends, up and down. You don't have much of a float going on, volumes are typically low so any spike in volume one way or another leads to marked price moves - it's not so hard to push these around in pump and dumps and so on, and the ones who get hurt are the average Joe investors (such as all those penny stock victims memorialized in movies like Boiler Room and Wolf of Wall Street).

https://www.wsj.com/articles/small-biotech-stock-cytodyn-soars-on-warp-speed-comment-11598456736

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darkoz
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August 27th, 2020 at 8:39:17 AM permalink
Quote: MDawg

It would appear that the other day when CYDY popped it was due to some hypesters' passing around a falsified or misleading video implying that CYDY had been included in Operation Warp speed. When the truth (or at least what is considered to be the truth) came out, the stock dropped and has continued to drop.

This just gets back to what I said initially - penny stocks like these are very susceptible to manipulation on both ends, up and down. You don't have much of a float going on, volumes are typically low so any spike in volume one way or another leads to marked price moves - it's not so hard to push these around in pump and dumps and so on, and the ones who get hurt are the average Joe investors (such as all those penny stock victims memorialized in movies like Boiler Room and Wolf of Wall Street).

https://www.wsj.com/articles/small-biotech-stock-cytodyn-soars-on-warp-speed-comment-11598456736



None of this matters until clinical trials are completed.

It's like declaring a losing baseball game while in the 4th inning.

The science doesn't change because of a stock price
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unJon
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August 27th, 2020 at 8:52:53 AM permalink
Quote: darkoz

Quote: MDawg

It would appear that the other day when CYDY popped it was due to some hypesters' passing around a falsified or misleading video implying that CYDY had been included in Operation Warp speed. When the truth (or at least what is considered to be the truth) came out, the stock dropped and has continued to drop.

This just gets back to what I said initially - penny stocks like these are very susceptible to manipulation on both ends, up and down. You don't have much of a float going on, volumes are typically low so any spike in volume one way or another leads to marked price moves - it's not so hard to push these around in pump and dumps and so on, and the ones who get hurt are the average Joe investors (such as all those penny stock victims memorialized in movies like Boiler Room and Wolf of Wall Street).

https://www.wsj.com/articles/small-biotech-stock-cytodyn-soars-on-warp-speed-comment-11598456736



None of this matters until clinical trials are completed.

It's like declaring a losing baseball game while in the 4th inning.

The science doesn't change because of a stock price



But doesnít the WH not warp speeding it give information about the science? Thatís what I keep coming back to and why Iím worried about your first speculative market investment.
The race is not always to the swift, nor the battle to the strong; but that is the way to bet.
darkoz
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August 27th, 2020 at 8:59:25 AM permalink
Quote: unJon

Quote: darkoz

Quote: MDawg

It would appear that the other day when CYDY popped it was due to some hypesters' passing around a falsified or misleading video implying that CYDY had been included in Operation Warp speed. When the truth (or at least what is considered to be the truth) came out, the stock dropped and has continued to drop.

This just gets back to what I said initially - penny stocks like these are very susceptible to manipulation on both ends, up and down. You don't have much of a float going on, volumes are typically low so any spike in volume one way or another leads to marked price moves - it's not so hard to push these around in pump and dumps and so on, and the ones who get hurt are the average Joe investors (such as all those penny stock victims memorialized in movies like Boiler Room and Wolf of Wall Street).

https://www.wsj.com/articles/small-biotech-stock-cytodyn-soars-on-warp-speed-comment-11598456736



None of this matters until clinical trials are completed.

It's like declaring a losing baseball game while in the 4th inning.

The science doesn't change because of a stock price



But doesnít the WH not warp speeding it give information about the science? Thatís what I keep coming back to and why Iím worried about your first speculative market investment.



Good question.

Due diligence.

Operation Warp Speed requires you to apply.

The CEO said he wanted to apply for Operation Warp Speed once they had clinical trials completed as they felt this would get the funding easier. (They do recognize that they are a small biotech firm after all)

In a recent interview with Dr. Drew HIV study award winning doctor Bruce Patterson was asked about Operation Warp Speed to which he replied they had sent him an email.

Like literally that was the whole exchange.

Now it's been twisted that Operation Warp Speed rejected Cytodyn.

I am sure OWS isn't looking at giving money to Cytodyn considering they didn't apply in the first place
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MDawg
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August 27th, 2020 at 9:02:36 AM permalink
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darkoz
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MDawg
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August 27th, 2020 at 9:57:51 AM permalink
You don't have to tell me. I'm trading the h. out of it right now, every dip I'm popping ten points on additional shares. It's all over the place.

My long term shares will hold steady as she goes though.
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MDawg
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August 27th, 2020 at 10:06:13 AM permalink
I actually just traded some 2145 to 2155, I put in the sell while the ask was 2160 before I realized how quickly it had popped back up can you believe that? I got filled at 2155.68 some greedy bastard took my trading shares back up over 2200 almost.

Oh well, can't look back. And that's the difference between trading and buy and mold. You make your money and move on. On to the next trade.

On a stock like CYDY I'd never just sit there holding it waiting for oblivion you should have dumped it when you had the chance to make money. If you believed in it that strongly you could have made money then bought it back for much less. Now instead you failed to sell at a nice profit and are staring down the barrel of a loss. It's one thing to arrive at the table and go straight down the tubes, quite another to have been looking at what? a double?? that day they hyped it to 8...and now you gave back all your gains and are actually down?? WTH. That's no way to be.

Just consider tho - if you're unwilling to stop quoting the entire post every time you post, even though it's right above and no need to quote it, are you ever going to change anything that you do? Will repeating the same thing again and again always give you optimal results? Are you so certain your way is the best to the extent that you're unwilling to listen to anyone's advice? Isn't adapt and change the way to be versus sticking with film when video and computer recordings were on the way in? I don't think everyone in the film business went under, some adapted.

When things go awry, are we really the victim of change or the byproduct of our unwillingness to change.
Last edited by: MDawg on Aug 27, 2020
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darkoz
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August 27th, 2020 at 10:16:54 AM permalink
Quote: MDawg

I actually just traded some 2145 to 2155, I put in the sell while the ask was 2160 before I realized how quickly it had popped back up can you believe that? I got filled at 2155.68 some greedy bastard took my trading shares back up over 2200 almost.

Oh well, can't look back. And that's the difference between trading and buy and mold. You make your money and move on. On to the next trade.

On a stock like CYDY I'd never just sit there holding it waiting for oblivion you should have dumped it when you had the chance to make money. If you believed in that strongly you could have made money then bought it back for much less. Now instead you failed to sell at a nice profit and are staring down the barrel of a loss. It's one thing to arrive at the table and go straight down the tubes, quite another to have been looking at what? a double?? that day they hyped it to 8...and now you gave back all your gains and are actually down?? WTH. That's no way to be.



Until the day I sell I haven't given back anything.

If FDA approved this could shoot up to $20.

Then I will have gained.

Of course I have to sell to realize that.

I get that you like to day trade but you are basically just gambling in the near term while I am doing it long term.
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MDawg
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August 27th, 2020 at 11:47:13 AM permalink
My success rate on trading is close to 100% if not actually 100% because I go long on quality stocks that keep hitting ATHs. It shouldn't be hard to understand why that is so. All I am doing is snagging change out of ever rising stocks, while at the same time hodling long term shares of the same.

That I am able to book the profits quickly on an intraday basis is a testament to my skill and knowledge as a trader, but even if all I did were throw darts at the given stocks at any point - wait long enough and every long trade would still be profitable.

What you're doing is "investing" in a penny stock which has never made a dime, and has a CEO who hypes constantly and seems to dump shares whenever there is a big enough pop. You can't even do a technical analysis of a stock like that because its recent chart is so horrible. As far as the latest fiasco, the only thing that was twisted was that some hypesters twisted a non-truth into that CYDY was part of Operation Warp speed. For a short period of time (a day or so), people bought into it...while the smarter ones unloaded into that brief strength. You have a lot of explanations for all the things that have gone wrong with this stock. A good stock wouldn't need so many excuses.
Last edited by: MDawg on Aug 27, 2020
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darkoz
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August 28th, 2020 at 1:40:56 PM permalink
MDawg,

Don't forget to post your report on today's price movements for Tesla and Cytodyn.

Oh, damn, this is one of the days you skip since the price movements went opposite your exemplar examples.

Here let me help you keep it honest

Tesla today. Ouch!



Cytodyn

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MDawg
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August 28th, 2020 at 2:07:24 PM permalink
And here's where we separate the men from the boys, the wheat from the chaff, the professionals from the amateurs.

I made more closed (trading) money today on TSLA than on days when it rockets straight up. Why? Because on dip days I buy crazily on dips and on days it goes straight up I don't trade it at all, just watch my long term shares go up.

My long term shares remain my long term shares, and remain at somewhere between an 11x - 12x bagger.

I traded it long thrice today, 2245 to 2249, 2241 to 2246, 2221 to 2222. On that last trade I got tricked - my original sell order was 2226 but I lowered it after the bottom dropped out to about 2211, and it looked iffy as far as recovery.

I also traded NFLX three times on dips for a total of 11 points.

I was pretty busy today had a variety of things going on I didn't actually get a chance to trade much, and I wasn't trading a very large block of shares, was just doing it for fun in between other work.

And that's how you make money buying on dips. None of these trades today was stellar, but each one booked a profit!

How much did you make on CYDY's moving a few cents today? Since you didn't trade it - you made - 0.
Last edited by: MDawg on Aug 28, 2020
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darkoz
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August 28th, 2020 at 2:39:39 PM permalink
Quote: MDawg

And here's where we separate the.. amateurs from the novices.
.



You got that one right lol
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MDawg
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August 28th, 2020 at 2:41:08 PM permalink
Yes I messed up that SAT / LSAT progression...corrected it now. 🤓
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MDawg
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August 30th, 2020 at 8:19:09 PM permalink
Tomorrow's looking promising.

See how AAPL and TSLA do post-split.

Just have to keep in mind that now when AAPL and TSLA move 1 pt. it reflects a 4 or 5 pt. move, respectively. So we shouldn't see 100 pt TSLA moves so easily if at all these days...a 20 pt. move will be the equivalent.
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MDawg
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August 31st, 2020 at 8:15:59 AM permalink
In the graveyard of old commercials this one is pretty famous.

"He's 15 - that's 105 for you and me."

Today TSLA is up 50! (AMZN not too shabby either.)

If you think about it along THEM lines,

that's like +250 pre-split. Incredible.

I actually did a trade on it for additional shares in the pre-, as it was looking a bit iffy at first, made a couple points. But once the bell rang I just watched my long term TSLA rocket - not much need to trade TSLA today, every time you even think about it it seems like it has already topped out.
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DRich
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August 31st, 2020 at 9:15:07 AM permalink
I would consider shorting Tesla today at that price if I was day trading. Seems like a crazy overreaction.
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MDawg
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August 31st, 2020 at 9:27:34 AM permalink
I've shorted all of these high fliers at points over the years in quick trades, but pretty much the only trades I've ever lost on - were - shorts. As a result, I rarely short. It looks great when things are falling, but buying long on dips has worked out very well for me, as far as trading.
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MDawg
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August 31st, 2020 at 7:08:40 PM permalink
Quote: SOOPOO

Post split after hours just sold 25 of 175 shares at $510. Itís $513 now!!! My B in Law thinks floor will fall out. He is buying puts tomorrow at a price target of 430 for November.

Problem for me is I now have extra cash. So I buy something else that tends to underperform TSLA....


You can't ever get the absolute bottom or top. You made money, did well, time for you to move on. Also, you declared that you would sell at a a post-split 500, so you did exactly what you intended to do. Congratulations!

I'm still here holding. My TSLA long term shares don't even really date from so long ago - I used to trade it constantly not really maintaining a constant position until about June 2019, when I bought and held. Incredible to think that in 14 months this stock went to nearly a 14 bagger for me. I'm now past the long term capital gains holding period, so I might sell at some point, but then again...I might not! If I needed the money or planned to put it in something else I might sell though.

Actually I'm about 40% cash in my one of my stock accounts right now - as values skyrocket and I keep buying and selling trading shares, the cash value in the accounts goes up too.

As far as your brother in law, if he's so sure it will drop, why not short today? And if he's so sure it'll go up even more (before he shorts), why not go long today?

P.S. Funny how you decided to take advantage of the A.H. - for the first ever, correct - today? You must have really liked what you saw!
I tell you itís wonderful to be here, man. I donít give a damn who wins or loses. Itís just wonderful to be here with you people. https://wizardofvegas.com/forum/gambling/betting-systems/33908-the-adventures-of-mdawg/
SOOPOO
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September 1st, 2020 at 3:30:38 PM permalink
Quote: MDawg

You can't ever get the absolute bottom or top. You made money, did well, time for you to move on. Also, you declared that you would sell at a a post-split 500, so you did exactly what you intended to do. Congratulations!

I'm still here holding. My TSLA long term shares don't even really date from so long ago - I used to trade it constantly not really maintaining a constant position until about June 2019, when I bought and held. Incredible to think that in 14 months this stock went to nearly a 14 bagger for me. I'm now past the long term capital gains holding period, so I might sell at some point, but then again...I might not! If I needed the money or planned to put it in something else I might sell though.

Actually I'm about 40% cash in my one of my stock accounts right now - as values skyrocket and I keep buying and selling trading shares, the cash value in the accounts goes up too.

As far as your brother in law, if he's so sure it will drop, why not short today? And if he's so sure it'll go up even more (before he shorts), why not go long today?

P.S. Funny how you decided to take advantage of the A.H. - for the first ever, correct - today? You must have really liked what you saw!



It's second time I've traded after hours.... and I do not remember what I traded the first time! I asked him about shorting... and he said something like there aren't shares to short? Anyway, he will buy the put and sell it well before it's expiration date. If it becomes worth more of course......I must have gotten in a little after you... 12 bagger for me!

I also sold 1/6 of my AAPL shares post split at 133. I am just so overexposed to those two companies....
terapined
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September 1st, 2020 at 4:46:02 PM permalink
Quote: MDawg


Today TSLA is up 50! (AMZN not too shabby either.)


Pretty happy with AMZN
I own 1 whole share lol
Its just a forum. Nothing here to get obsessed about.
unJon
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September 1st, 2020 at 5:23:52 PM permalink
Iím not a big believer in market timing, but I canít shake the feeling that we are in the midst of a market bubble.
The race is not always to the swift, nor the battle to the strong; but that is the way to bet.
SOOPOO
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September 1st, 2020 at 5:38:33 PM permalink
Quote: unJon

Iím not a big believer in market timing, but I canít shake the feeling that we are in the midst of a market bubble.



I felt that way 20% ago..... so I was wrong then..... but I agree with you....
darkoz
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September 1st, 2020 at 6:01:56 PM permalink
Quote: unJon

Iím not a big believer in market timing, but I canít shake the feeling that we are in the midst of a market bubble.



Don't worry, MDawg has everything timed out in advance.

Just follow his direction
For Whom the bus tolls; The bus tolls for thee
MDawg
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September 1st, 2020 at 6:22:23 PM permalink
DarkOz we're talking about how market timing does NOT work. Which is why I quote constantly the expression "You can't get rich with a weather vane."

BUT you must buy Quality stocks to begin with. And the time to buy such stocks is...whenever you have the money to invest.

Are you following what we are talking about here? We're not talking about trading.
I tell you itís wonderful to be here, man. I donít give a damn who wins or loses. Itís just wonderful to be here with you people. https://wizardofvegas.com/forum/gambling/betting-systems/33908-the-adventures-of-mdawg/
darkoz
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September 1st, 2020 at 7:05:31 PM permalink
Quote: MDawg

DarkOz we're talking about how market timing does NOT work. Which is why I quote constantly the expression "You can't get rich with a weather vane."

BUT you must buy Quality stocks to begin with. And the time to buy such stocks is...whenever you have the money to invest.

Are you following what we are talking about here? We're not talking about trading.



I thought we were talking about a bubble bursting
For Whom the bus tolls; The bus tolls for thee
DRich
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RogerKint
September 1st, 2020 at 7:10:10 PM permalink
I don't think anyone can say we are in a bubble because the Fed has added so much liquidity that this might be the new normal.
At my age, a "Life In Prison" sentence is not much of a deterrent.
MDawg
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September 1st, 2020 at 7:13:31 PM permalink
In any case, I've known people who patted themselves on the back for selling in say, November 2018, or March 2020, only to never get back into the market. Once it rises above where you exited you end up a deer frozen in the headlights. Staying the course has worked for me.
I tell you itís wonderful to be here, man. I donít give a damn who wins or loses. Itís just wonderful to be here with you people. https://wizardofvegas.com/forum/gambling/betting-systems/33908-the-adventures-of-mdawg/
Ace2
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September 1st, 2020 at 7:30:29 PM permalink
Quote: MDawg

In any case, I've known people who patted themselves on the back for selling in say, November 2018, or March 2020, only to never get back into the market. Once it rises above where you exited you end up a deer frozen in the headlights. Staying the course has worked for me.

I agree. No one can time the market, not even Warren Buffet...by his own admission

However, I donít touch individual stocks, and especially not something like TSLA.

SPY is my core holding. Youíre not going to hit the jackpot with it, but at least you can be confident it will still exist 10-20 years from now
Itís all about making that GTA
MDawg
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September 1st, 2020 at 7:51:42 PM permalink
No one may argue with SPY. It's solid. I wanted to get some at...what was it, 250? a few months ago, but I didn't. All the way back up to 350 I kept wishing I had bot some. Oh well.

And it's true...today TSLA dragged me down. I traded enough to make up some of the loss, but by no means all of it. Then other days BAC might drag me down. And so on, as far as individual stocks. But over all, if I had tried to "market time" either TSLA or BAC I would have lost out.
I tell you itís wonderful to be here, man. I donít give a damn who wins or loses. Itís just wonderful to be here with you people. https://wizardofvegas.com/forum/gambling/betting-systems/33908-the-adventures-of-mdawg/
unJon
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September 1st, 2020 at 8:31:28 PM permalink
100% agree that market timing is futile. Are we actually in a bubble? No way to know until after the fact. ďMarkets can stay irrational longer than you can remain solvent.Ē

That said, thereís an old adage about the classic sign of the bubble in the late 1920s was the shoe shine guy giving stock tips. Thatís pretty close to whatís happening now.
The race is not always to the swift, nor the battle to the strong; but that is the way to bet.
SOOPOO
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September 2nd, 2020 at 5:22:12 AM permalink
Quote: Ace2

I agree. No one can time the market, not even Warren Buffet...by his own admission

However, I donít touch individual stocks, and especially not something like TSLA.

SPY is my core holding. Youíre not going to hit the jackpot with it, but at least you can be confident it will still exist 10-20 years from now



I own lots of SPY. And QQQ. And IWM. And IWN. But now with virtually no fees to trade stocks, why don't you start buying SOME individual companies? You can buy just a few hundred dollars worth to get your feet wet. I have bought literally hundreds of different companies, for reasons as silly as I liked the ticker symbol, to I knew a friend who worked for them, to I like the product they sell, to I got a tip from someone. Too long a list to give you the ones that went bankrupt.... but WAY overshadowed by the ones that went WAY up! If I bought 5 that went totally bankrupt (Enron, Comdisco, Loewen, some MJ stock, SVA) it is more than made up for by the single Peruvian bank stock, BAP, that I bought because it was a nickname I called my sister as a child. I bought 600 shares of BAP at $6 a share a few decades back. It was maybe $240 a share before the pandemic. I've sold 500 of the shares starting at $145 on the way up. So if I lost $50k on the bankrupt ones, I've made maybe $100k on this one home run.

And if you don't take my advice, you will do fine with SPY and the like!
MDawg
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September 2nd, 2020 at 8:20:51 AM permalink
We got some sh*t going on with TSLA again today.

Trading wise I entered at 465, and the bottom fell out. I doubled up shares at 445, which brought my average to 451 and change, but it went even lower. I put in a do or die sell at 455, and a buy for five times the shares at 431 to average in a lot more if needed. Fortunately it didn't go that low, and eventually powered up to 455. There were something like ten thousand shares from sellers trying to get filled at 455 but somehow I got a fill, so I made it out and made good money on that trade.

But, TSLA itself, is still flailing today.

Soopoo, maybe you done good selling out at 508. It actually hit 530 the next morning in the pre- but has been downhill most of the way since. I have feeling though that after we shake out the weaker hands it'll be taken back up to 550 and higher.

I also did a NFLX trade 545 to 547, which it went all the way to 537 first before rebounding.
I tell you itís wonderful to be here, man. I donít give a damn who wins or loses. Itís just wonderful to be here with you people. https://wizardofvegas.com/forum/gambling/betting-systems/33908-the-adventures-of-mdawg/
terapined
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September 2nd, 2020 at 8:38:30 AM permalink
NVDA
I only own 4 shares but I am quite pleased with the performance
I bought in at about 498 a share a few weeks ago, now around 560
Its just a forum. Nothing here to get obsessed about.
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