Investing General Discussion

I never called anyone our for shorting…at least i dont think i did.

Is this being seen as a sign that AMZN growth is slowing? Look at the stock price. $3,180? You spent all of that time trying to drive the brick and mortar stores out of business, and now you want to be one?

Sanrith Descartes said:

What did you try new?

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I tried to anticipate AMD bouncing off of resistance at 108.4 last week, as I saw it do many times in the last week. Only this was the one time that it actually went past resistance. And my dumbass didn't use a stop. At the same time last Friday AM, Bank of America was preparing an upgrade. And then Nazarian comes on talking about 117 call options being placed en masse. So I shorted it, but didn't protect myself, and got crushed.

I know I need to wait for confirmation, but didn't. As the saying goes, its better to wait for confirmation and be late, rather than to let your mind play tricks on you and make the wrong move.

I know I needed a stop loss in there, but decided I didn't need one. I think it rose $6 a share. I know I have to have stops in there, but someone in this thread told me to not use them. So I tried to not use a stop, and got crushed. There was clearly something different at this time, and the stop would have been a sanity check.

I know what works for me. I scalp. I wait for confirmation on the 1 min and 5 min. I catch the stock when it bounces off of resistance and support (but move with the signal). I use OCO bracket orders with stops. I didn't do any of that.

Oh well, next trade.

Sanrith Descartes said:

BABA volume almost 3x normal. No relief in sight. Shorts in total control for now.

I haven't felt pain like this since XOM last year.

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Yuck. I feel your pain, but this is all just momentum at this point.

I wonder at what price it will stop? 125? 100?

Sometimes I wonder if the Chinese government isn't shorting these companies, and then buying up cheap shares for the eventual takeover.

Re BABA: There is a big macro pivot at ~148. You're catching a knife without technical support until then.

CDC just advised “at risk” people to avoid cruises regardless of vaccine status. Tanked cruise lines a bit after hours.

Jysin said:

CDC just advised “at risk” people to avoid cruises regardless of vaccine status. Tanked cruise lines a bit after hours.

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Yet they haven't fallen too far. Yale just released data saying there are signs of the numbers peaking today.

Bought some MA at Cramer's advice on actionalerts today. I took it on a trade, probably won't hold too much of it long term.

we'll see

Sanrith Descartes said:

Since I have been long V, when I started using Cramer's alerts I opened a quarter position in MA. I added another quarter position at $355 yesterday. If it continues to drop I'll eventually average down until I have a full position.

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What I like about his alerts is that he'll tell if a price is out of wack. These usually end up being good investments, but also good trades. I jump on them now, because I've seen too many of them pop 10% in a few days. Like EL. I said hell no I'm not buying that. It was up like 8.5% three days later. You do get misses like WYNN, but for the most part, his picks are good.