The Dow is down AKA Stock Market Watch 2020. Update: Pump before the dump.

Minishdriveby

Member
Oct 25, 2017
2,147
The Dow Jones isn't the economy. Congress just gave companies Billions of dollars to keep themselves afloat. This doesn't mean these same companies won't layoff people in a down economy. People say the market is unpredictable but from what I've seen there is some predictability to it. It was always going to go up based on the passage of this bill. Now how many days this last I couldn't tell you. It wishful thinking for the people at the top to think this virus consequences will only last a few weeks.
Probably just corporate stock buy backs causing inflation again, honestly.
 

molnizzle

Avenger
Oct 25, 2017
10,893
I’ve been considering switching after the extended down time a couple weeks back, just not sure what else is as convenient and I’m pretty familiar with how Robinhood works now. What do you use?
I moved a decent amount of money over to TastyWorks, but honestly the mobile app is terrible so it really only works right now while I'm in school and can trade from my PC during the day. Once I have a day job I'll need an A+ mobile app. At this point I'm probably just going to stick with Robinhood and hope that they fix their network. It has been better in the last week or so since the most recent problems. I've even placed (and filled) some trades right at market open.
 

Sheepinator

Member
Jul 25, 2018
9,544
I've used Ameritrade for years. No complaints. Trade commissions were cheap for me anyway at $7, and they've been free for a while. The ThinkOrSwim platform they have is quite good too. Customer service is fast and good.
 

molnizzle

Avenger
Oct 25, 2017
10,893
Wasn't that yesterday? lol
Yesterday was the build-up to it actually passing, which didn't happen until after the market closed. There was always going to be another little pop after it passed.

Also:
Looks that way to me too. Downtrend still not been broken yet. Big rallies happen in bear markets, this was expected from a technical perspective. Now it should get a little tougher to move higher because coming into some overhead resistance soon. Whether it be spy 260 or 270. The charge higher can't falter now if the trend is going to be broken.

Yup, if anything the stock market is a market of repeating patterns over history. Take a look at virtually any chart and you will see the same patterns happen over and over and over and over again.
 

Barzul

Member
Oct 25, 2017
1,398
The stimulus had to have already been baked in though, Trump and Mnuchin have been holding conference calls with the market movers, so they know it was definitely coming. I think this push is super irrational.
 

____

Member
Oct 27, 2017
6,252
Miami, FL
Norwegian and carnival where at like 10 bucks. Delta was stupid down and obviously Boeing hit like sub 90
Yeah I got Norwegian at like $8 I sold at $18. Just not sure we’ve hit peak coronavirus panic imo. Maybe I’m wrong.
Yep, crazy times indeed. I didn't look at NCL, but CCL I have a limit order in if/once it hits $7/share to purchase $2000 worth. I understand that they've taken out a line of credit to stifle the bleeding, but if the cruise industry continues to remain out of operation longer than expectations, then I expect the share price to continue to tank.
 

Maxim726x

Avenger
Oct 27, 2017
5,727

Arrakis

Member
Oct 30, 2017
703
ontario,canada
Yep, crazy times indeed. I didn't look at NCL, but CCL I have a limit order in if/once it hits $7/share to purchase $2000 worth. I understand that they've taken out a line of credit to stifle the bleeding, but if the cruise industry continues to remain out of operation longer than expectations, then I expect the share price to continue to tank.
Just be careful , if the company goes bankrupt you get $0, this market is so backwards right now
 

SRG01

Member
Oct 25, 2017
3,902
My strategy right now is to just DCA into an index fund, and to hedge using TVIX in case anything goes south. So far I'm barely breaking even on those two, but the rest of my investments are already recovering quite fast.
 

____

Member
Oct 27, 2017
6,252
Miami, FL
Probably not a good idea to put all your eggs in one basket so to speak.
Oh, for sure - I have different levels of stock in 16 different companies for better or for worse lol.

I just meant that overall, the industry is suffering from workforce reduction due to our current financial situation so if it worsens, then I may be out of a job and that'll be my primary worry.
 

Steel

The Fallen
Oct 25, 2017
12,987
My strategy right now is... keep dry powder and keep going with the strategy that has made me lose basically no money in weeks and only ~7% off my portfolio's highs. Like, if we've seen the bottom (doubtful) I have enough invested still to profit. If we go down, my short hedge and cash reserve will keep me from bleeding too much. Worst case (for my portfolio, not otherwise, and imo highly doubtful) scenario we somehow end up back at 29k and my shorts get purged before losing enough money to be worried about and I end up making money anyway, just missed opportunity of investing and I made some extra money from a few short-term trades on top of it. On the other hand, if things tank again I have the money to buy again. And if things bounce again while there's obvious bad news around the corner, I can sell those new buys again to lock in gains. And if things tank further I can buy more. There are better and worse scenarios for this, of course, but I'm not worried about my portfolio.

I am worried about... everything else.
 

LanceX2

Member
Oct 25, 2017
2,644
Anyone have any podcasts or sites for me to read how to buy and sell smartly? I got a Roth Ill max but id like to play with a thousand or two
 

m_shortpants

Member
Oct 25, 2017
3,130
Last opportunity for short sellers before the shit hits the fan.



Depends. If you're in it for the long haul? Don't touch it. Put some money back in when it craters.

Short seller? Take the money and run.

Just IMO.
Yeah I know... I'm just a worry wart thinking worst case scenario in all aspects like...will I have a job....how will I pay my mortgage...lol.
 

Blue Skies

Member
Mar 27, 2019
7,979
Reminds me of some advice I heard a while ago: invest little bits over time and not a huge amount at once. That way you can react to market conditions as they occur.
yea no reason to go all in right now.
We all look back on the recession from 2008-09 and see all the gains that came with the 12 year bull run that followed and wish “damn I could’ve invested it all and tripled my money!” Yea it would be nice to have all that info at the time. But who knows where we actually are right now. All I know is: there’s a global pandemic and the president of the USA is goddam moron surrounded by morons.
 

Barzul

Member
Oct 25, 2017
1,398
just want to say something to people coming in here relatively new to stocks:
Don’t mess with calls or puts.
Yep I’ve been trading stocks for just over a year now but I haven’t messed with options yet because I need to learn more about. Also seeing the massive L’s on r/wallstreetbets has been a massive cautionary tale for me lol.
 

molnizzle

Avenger
Oct 25, 2017
10,893
Yep I’ve been trading stocks for just over a year now but I haven’t messed with options yet because I need to learn more about. Also seeing the massive L’s on r/wallstreetbets has been a massive cautionary tale for me lol.
But L’s and big W’s. I’ve lost big time over the past few weeks but I’m still up like 30% YTD.
 

Blue Skies

Member
Mar 27, 2019
7,979
Yep I’ve been trading stocks for just over a year now but I haven’t messed with options yet because I need to learn more about. Also seeing the massive L’s on r/wallstreetbets has been a massive cautionary tale for me lol.
I’d rather take a 10 percent slow gain, than even have the potential to have a 99 percent loss. People call the stock market gambling, it really isn’t, until you mess with options, and then it is.