Stock Trading

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Del
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Post by Del »

sweetandsour wrote: 25 May 2022, 16:51 Wow! You've done pretty well in May, when alot of folks sold and went away.

Well, I was selling too. I did that short sale on NVDA as it was falling down 12 points. Felt like I was jumping onto a water slide.

I expect the market will trade more-or-less flat for the next couple of months. It usually does during a normal summer.

S&P has established pretty firm support at 3900. And remember May 20, when buyers swooped in like vultures when it got down close to 3810.

It's going to take some really bad news to suppress the market below current levels. Meanwhile, there's no upside news anywhere on the horizon. Maybe Putin will resign or something.

July: 2nd quarter earnings and GDP data are the next BIG THING.

In the meantime, I will stick to my condors and credit spreads. They make money when the market doesn't move much.
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Post by sweetandsour »

I'm attending a 4 session trading webinar on Fidelity. The first session was yesterday, was supposed to be an hour but it overran by 30-40 minutes due to the introductions, and questions at the end.

I've placed limit orders twice now on the shares of NVDA that I bought at 162, but it doesn't quite get high enough to trigger it. I'm definitely letting my emotions get in the way. Definitely need to work on exit strategy.
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Post by Del »

sweetandsour wrote: 07 Jun 2022, 18:25 I'm attending a 4 session trading webinar on Fidelity. The first session was yesterday, was supposed to be an hour but it overran by 30-40 minutes due to the introductions, and questions at the end.

I've placed limit orders twice now on the shares of NVDA that I bought at 162, but it doesn't quite get high enough to trigger it. I'm definitely letting my emotions get in the way. Definitely need to work on exit strategy.
I closed out my long position on SP500 futures this afternoon. I had been betting on a big surge since May 27, but it never came. Now the market doesn't know which way to go.

NVDA has been tracking SP500. SP500 has been trading within a narrow range, trying to figure out whether it wants to go up or go down.

Down is always a risk. Trusting the market always means climbing that Wall of Worry.

Friday morning, just before market opens, the latest monthly data on employment and inflation will be released. There could be a lot of volatility as the market digests reality v. expectations.
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Post by Bloodhound »

I traded my stock last night. The old Model 50 12ga original stock is looking tired, so I traded it out with another one that I have on the shelf...I will refinish the original and then trade them back. ;)
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Post by sweetandsour »

Bloodhound wrote: 09 Jun 2022, 08:51 I traded my stock last night. The old Model 50 12ga original stock is looking tired, so I traded it out with another one that I have on the shelf...I will refinish the original and then trade them back. ;)
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Post by Del »

Gun stocks! Ha!

I am expecting a big move in the market tomorrow. The latest inflation and employment data will drop an hour before the market opens. I have no idea if the market will go up or down..... very happy or very scared.

I'm going to put a "straddle" on today. Buy a put option and a call option on SPY -- an ETF that tracks the S&P500. I'll make some money if it moves sharply, up or down.
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Post by sweetandsour »

Del wrote: 09 Jun 2022, 10:27 Gun stocks! Ha!

I am expecting a big move in the market tomorrow. The latest inflation and employment data will drop an hour before the market opens. I have no idea if the market will go up or down..... very happy or very scared.

I'm going to put a "straddle" on today. Buy a put option and a call option on SPY -- an ETF that tracks the S&P500. I'll make some money if it moves sharply, up or down.
Well, I think you got your answer.
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Post by Del »

sweetandsour wrote: 09 Jun 2022, 14:14
Del wrote: 09 Jun 2022, 10:27 Gun stocks! Ha!

I am expecting a big move in the market tomorrow. The latest inflation and employment data will drop an hour before the market opens. I have no idea if the market will go up or down..... very happy or very scared.

I'm going to put a "straddle" on today. Buy a put option and a call option on SPY -- an ETF that tracks the S&P500. I'll make some money if it moves sharply, up or down.
Well, I think you got your answer.
It's not a trade I'm used to or comfortable with, so I set it to sell when I reached $215 profit. It hit my target already today.

If I had been home to watch the screens, I could have made more. As much as $600, if I had caught the perfect bottom (that never happens).

Anyhow, I am content with S200 cash for a one-day trade. And I learned something from it.
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Post by Del »

I wrote the post below on May 21.

S&P500 has hit the mattress again, just touching 3900 about an hour ago (9:30 am). It's jumping on the bed for now, and flirting with falling on the floor.

Your holding in NVDA just hit it's own mattress at 169, tracking with the SP500.
Del wrote: 21 May 2022, 20:27 Pull up a chart of the S&P 500. Take a good look at the candle for Fri, May 20.

Notice the long wick at the bottom. This is great news.... the market is showing its hand!

Market index got down to near 3800. Computer buyers swooped in and bought it back to 3900. If the index gets down to 3800 again, buyers will swoop back in again!

NVDA (part of the S&P) was tracking the index on Friday. If S&P gets down toward 3800, buy more NVDA.
==================================

Now take a look at the market close at 3900 on May 21. Market opened and closed at 3900 on May 19. Market opened at 3900 on May 12. Market is very comfortable at 3900 right now.

Until the market finds a new direction, it is going to trade close to 3900, mostly on the upside. 3900 is the mattress; 3800 is the floor.

NVDA will find a new mattress/floor after earnings this week. Then it will track up and down with the S&P index.
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Post by sweetandsour »

The talking heads are saying SP will go to 3500. Earlier this week I sold the NVDA that I bought at 162, at 190. The NVDA I bought at 220 will just have to wait.

Re the new inflation number, Kramer (Cramer?) this morning said we're getting back into Carter country. Feds are saying inflation has peaked, but the big investors are saying "prove it". Lots of double talk going on, with the words "inflation", and "prices". "Inflation has peaked, but prices may not have peaked", I read somewhere.

Anyway, until I know better, I'll buy and sell with my play account. If NVDA goes below 160 Ill probably buy it back, again.
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