The Rokslide Stock Traders Thread

[Brightwhite]

Cali just announced its had 1 million unemployment apps this week. Uff da.

Whoa. Just California alone?

 

[Brightwhite]

Yep, be patient, you'll be rewarded. ....MRO is worth a look too.

Thanks for the tip, MRO hadn’t even hit my radar yet. Looks interesting with a ton of upside and not a lot of risk at that price

 

[EastMT]

Whoa. Just California alone?

Yeah last week and start of this week over 1 mil. Story is on CNBC

 

[Shakeandbake]

QQQ, single stocks are too risky right now. ETF’s all the way.

 

[Brightwhite]

Yeah last week and start of this week over 1 mil. Story is on CNBC

8:30am EST will be big time

 

[007hunter]

They will probably vote on the “stimulus” at 8:30 to offset the unemployment numbers...

 

[Trevor73402]

I see a lot of folks on here that keep telling others not to get in right now. There’s been tons of money to be made in the last 2-3 days. Tomorrow will be the same way. I’m buying/selling energy stocks daily and killing it. You guys just keep “waiting” for it to “bottom out”.

 

[Yakykgoose]

I see a lot of folks on here that keep telling others not to get in right now. There’s been tons of money to be made in the last 2-3 days. Tomorrow will be the same way. I’m buying/selling energy stocks daily and killing it. You guys just keep “waiting” for it to “bottom out”.

Day trading without a fully fledged trading plan with risk management and metrics is an eventual route to disaster.

May not be today or tomorrow but eventually. There's a reason 95% of day traders are not successful.

 

[Trevor73402]

Day trading without a fully fledged trading plan with risk management and metrics is an eventual route to disaster.

May not be today or tomorrow but eventually. There's a reason 95% of day traders are not successful.

When I get to work in the morning, I’ll be sure and tell that to the guys that have paid cash for new homes, property, farm equipment, and vehicles with money made from day trading over the last 12 years.

 

[Yakykgoose]

When I get to work in the morning, I’ll be sure and tell that to the guys that have paid cash for new homes, property, farm equipment, and vehicles with money made from day trading over the last 12 years.

You dont think the warning I gave makes sense for all the tom dick and Harry's that are about to lose their ass thinking the trading game is easy after a few wins?

The trail of tears, financial ruin, and failed marriages for that story is long and well known. But yeah, go ahead and tell a bunch of people to start day trading with their money and end up in a worse situation that they are already about to be in. And then be a smartass to the guy bringing some logic back into the situation.

 

[EastMT]

I see a lot of folks on here that keep telling others not to get in right now. There’s been tons of money to be made in the last 2-3 days. Tomorrow will be the same way. I’m buying/selling energy stocks daily and killing it. You guys just keep “waiting” for it to “bottom out”.

I’m not talking day trading, yeah there’s lots to be made every day. I’m talking about rolling my 6 figure 401k back in, letting it ride.

Yeah I use Robinhood to make a little for fun, but it’s not my wealth. Just play with it and make/lose a few bucks.

I don’t know about your 401k, but I can’t day trade with it, nor would I. Waiting on the virus/economy/unemployment numbers before I get too excited to roll in

 

[EastMT]

Dang, 3.28 mil claims vs 1.5 mil expected.

 

[007hunter]

You dont think the warning I gave makes sense for all the tom dick and Harry's that are about to lose their ass thinking the trading game is easy after a few wins?

The trail of tears, financial ruin, and failed marriages for that story is long and well known. But yeah, go ahead and tell a bunch of people to start day trading with their money and end up in a worse situation that they are already about to be in. And then be a smartass to the guy bringing some logic back into the situation.

Good advice here. With this volatility, now is not the time for someone with no experience to try their hand at day/swing trading. It takes considerable time, research, and persistence to be successful. Do it willy nilly, you will lose.

 

[bozeman]

The unemployment #'s are for those filing for businesses shutting down for 2 weeks...it has been encouraged...….wait til next month and they are back at work......

 

[Scrappy]

The unemployment #'s are for those filing for businesses shutting down for 2 weeks...it has been encouraged...….wait til next month and they are back at work......

Exactly what is happening, these numbers mean absolutely nothing at this point.

 

[EastMT]

So you think this will last 2 weeks? China took 6 weeks with apartment complex gates welded shut. I’m not confident it lasts 2 weeks.

 

[Brightwhite]

Well not a blood bath at all. interesting, guess it was all baked in already.

 

[Doc Holliday]

Well not a blood bath at all. interesting, guess it was all baked in already.

Efficient Market Hypothesis (EMH): Definition and Critique

The Efficient Market Hypothesis (EMH) is an investment theory stating that share prices reflect all information and consistent alpha generation is impossible.

www.investopedia.com

 

[Trevor73402]

I was not suggesting anyone day trade with their 401K as a whole. The title of this thread is “A DIP IN THE MARKET, WHAT ARE YOU GUYS BUYING”. I thought we were all responsible adults here and accountable for our own actions and the risks that may or may not go along with those actions. I am not day trading my 401K. This is a unique time in the market and there is a substantial amount of money to be made if you want to put forth the effort. I’m day trading with about $10K of spare cash. Mainly sticking to energy stocks since that’s what I know. Overall I’m up about 22% per day. We will see how today shakes out, but so far it’s looking good.

 

[Yakykgoose]

Efficient Market Hypothesis (EMH): Definition and Critique

The Efficient Market Hypothesis (EMH) is an investment theory stating that share prices reflect all information and consistent alpha generation is impossible.

www.investopedia.com

You should check out a book called "The myth of the rational market". Interesting read. I personally think that markets show correct value over long term timeframes (months, years) but are emotionally driven in the short term.

I think the current moves up in the market are driven by FOMO but who knows. The markets are fickle. I was very confident we were going to have a major drop in February as I sensed a massive shift in sentiment would occur when coronavirus spread to the US. Now, it's much more grey to me how this plays out from this point on.