Day 9 with Covid and still struggling. My two youngest ones seem to be fine now. My oldest daughter who's 13 still having a tough time. Please continue to pray for us.
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I'll announce the winners next week.💻
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I'm now 59 years old.
Driving through the city tonight and saw candy cane lights and snowflakes.
Time goes by so fast. Children growing up. Seemed like just yesterday that Christmas was here.
I'm truly blessed but more than anything want all the time I can get with my family.
Many good quality stocks down 50% from the ATH but some will suggest to you to not to chase stocks today.
The way I see it my risk is lower here, not higher.
I've decided to go 100% into cash at this point. Seems like more a gamble to be in this market right now than good swing trading.
So going to Rule
#1
Protecting Capital.
Just found out that one of my boys has Covid. He's had a fever for a couple days now but seems to be under control.
I'm 60 years old, so seeing my doctor tomorrow to get checked. I have no symptoms.
Please pray for us.
My wife just sent me this photo
Really loving the way my kids are turning out.
Two of my older children; 14 and 11 here helping another momma with her newborn and toddler in the pouring rain to load her groceries.
They can't help but to want to help
So I have a serious (life threatening) infection in my hand. Been in and out of the hospital for days. The good news is that I didn't have to stay 24/7. I've had some improvement.
Seeing my primary physician some time today. Hoping for the best.
September is statistically known to be the most difficult month to trade stocks.
Here's some other months that can be difficult to trade stocks.
March, June, December, May, November, January, July, February, August, October, April
Many technical buy signals turned into sell signals today. That's not good.
I'm seeing no (in my face) reason to take any significant risk here Closed most of my positions today to assure profit and/or to keep my downside risk to a minimum.
I'm also hedged
Stock Pickers Market
There's many stocks that continue to confirm bullish with new highs
There's also many stocks that continue to lack follow through and on track to continue lower
Be quick to be aggressive with winners and quick to be defensive with stocks going against you
$PLTR Just another good example of why I don't get caught up in the hype of popular stocks. Too often they'll only distract you from taking advantage of other (better) trade opportunities. To be clear, I'm only using this as an example. I own shares.
$PLTR I decided to take this off my watch list.
Might all be good as a long term hold but that's not how I work.
I know it's very popular but this action isn't my style at all, as it used be not so long after their IPO
So many other easier (and more profitable) stocks to trade
It was over 20 years ago that I made my first trade. I was up 30% in 30 minutes
I envisioned my new house and a new car. :)
3 months later I sold that stock, for a 30% loss
I have 2 post ready, that I believe could be of great help to many of you. I just want to know you want it.
So like this post if you want my best (post) of the day!
If you're generous with likes, I'll be posting more!😀
I put out a killer chart on a stock and get maybe 3 likes on it at best.
Someone else later puts out a chart on the same stock, after it's up 30% higher and get 76 likes.
Nothing really changes.
How do you know that you had a good (trading) day? When you lose big in the market and your little 6 year old boy comes up to you with a homemade chocolate chip cookie and a smile :)
I'm not wasting my (and your) valuable time to post the obvious here, that most believe to this action is bearish.
A pullback is not unusual after the huge rally we've had.
Avoid the noise people. Focus!
I'm doing my utmost to help guide in this crazy market and I get 6 likes on a post.
After these same stocks go up 30% plus off the low, hot shots (gurus) will be posting what a great setup these are and how BEAUTIFUL they are and get 600 likes.
Honestly, really irks me😀LOL
$PLTR My thoughts on this stock today.
At this point anyone that wanted to sell or thought that they had to sell are gone. Leaves less resistance on the way up. Not a prediction Just my 2 cents
$TSLA The biggest winners (most likely) here will be those that position now and are patient.
Or you can wait for the breakout; when everyone will claim to have bought that day, at the perfect time near the lows to get positioned.
As I sometimes say, get it while it's boring.
The most popular stock isn't necessarily the best. Example Thursday after earnings.
I don't have stats but from what I saw visually from post; most comments where about $CRWD that closed down -4.19% I saw hardly any comments on $DOCU yet it closed up +19.76% Price was telling
Everyone seems to be acting like it's all good.
Last couple of days, not so easy. I'm sure many others had an extremely difficult time also. They just didn't voice it.
$FB I don't see why so many are using so much effort to find the perfect buy point for this stock (or any stock) that's obviously in trouble. There's too many other good stocks to be in to waste your precious time. People get caught up too much in the name, versus making profits.
$PINS $ROKU $YALA $TLRY $ZM $TIGR $CHWY $WISH $VRM $FUBO $DIDI $BABA
Posted about many of these stocks not so long ago. Careful if you're thinking that stocks that are going lower, just can't keep going lower?
Have an exit plan.
Educational purposes only. Not a prediction
$PLTR Good stock, just not the ideal time. Don't buy a stock just because it's popular. Understand the risk going in.
To be clear, I'm bullish on this stock long term.
During the last 2 months many traders have been learning the hard way to not blindly follow others. No matter how good someone is at trading or investing, they're not perfect. You need to find a way to make it work for you. That will take some work. Are you ready to get started?
When I post a chart on a stock that I'm (obviously) bullish on and someone ask me "What our your thoughts?" My immediate thoughts are why are you asking about my thoughts?
Am I missing something here?
Holding
If you've never been through a (real) bear market, then you don't understand how ridiculously low stocks really can go. Be careful. I've seen $300.00 stocks go to $40.00 and yes, even lower. Don't find out the hard way.
I told my wife yesterday that I was having a tough time. She said, "Is it that bad? Is the mafia after you"? I said no and started to laugh. Felt a lot better. There's much to be said about our own perception. Our problems are often not nearly as bad as we think they are.
$PLTR Volume shelf here is telling me that there was huge accumulation going on before the breakout on Friday.
Expecting higher
Wouldn't be surprised to see new ATH's!
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If stocks/markets go higher from here, experts will be telling you that you should have held. If they go lower from here, experts will say; well of course stocks sold off ..you should have expected it.
What's needed is a better plan.
$PATH New position.
Other than that pretty much sat on my hands today. Worked out good since I'm not feeling so well today.
Positioned in good stocks so I just watched them do all of the work. :)
I took my family to eat out at the Olive Garden yesterday. I stated at the table that it seemed odd to me I was immune to COVID when I was sitting down but not when standing up. (you have to wear a mask if standing) My wife says, please excuse my husband. It's his 1st time out.😂
Pro Tip
Be cautions of stocks that (continually) get rejected at moving averages like the 20 day moving average EMA, 50 day SMA and/or the 200 SMA
Also stocks that (continually) get rejected at key price points such as $20.00, $50.00, and $100.00
I'm glad others bought when I posted about the breakout expected on $UPST on May 14th.
That said, there where other people like
@PatternProfits
that helped provide important information well before; that helped me decide to buy at that time (based on the technical analysis)
$IWM
Who are you listening to?
I'm only aware of 2 people other than myself who have talked about the real start of the bottoming process on growth stocks starting on May 12th.
That would be
@cfromhertz
and
@saxena_puru
It's not unusual to see what appears to be a good setup, not work out. Then later that stock presents a new/different setup that works excellent.
No one gets them all perfect (on the 1st attempt) as it so often seems.
There is no easy "holy grail" formula.
You need to work it.
$RBLX Bullish engulfing candlestick, on increased volume today telling me this setup is well intact and that the stock could certainly continue higher from here
I have a position
I rarely look but just realized that 15K of you are now following me.
Truly humbled and appreciate each of you for trusting me in the information that I post. Thank you
Some strong action on many stocks today. I would do more updating but an old hand injury flaring up holding me back. Painful and not fun. Using my left hand for the mouse. Please pray that I would get better soon.
Hard truth
Some are hoping for a pullback on stocks, because of the fear of buying them today.
The market waits for no-one. It's going to do what it's going to do when it is going to do it.
It's up to us to decide what we're going to do with what's given at any point in time.
$QQQ Falling wedge setup, confirmed
Last week we got a higher high, higher low on lower volume.
Continuation higher likely if able to get back above (and stay above) 309.10