Stock Trading -or- ReconSWS's Bane

[ReconSWS]

excitingxdxdxxd

[ReconSWS]

lol.PNG

Honestly being a poor bear with only lvl1 strats and commisions is hard - the strategy seems to enter in the blue area, and have your expiry set to the far right of the graph. Super fuckin hard to nail down but man, when it happens It's gonna be so sick. This graph is a pathetic dip though, where is that single day 30% drop? I literally just want 2% here baby. We have after market, futures, futures, premarket, and then what'll happen most likely absolutely nothing. But ya never know, if you don't take the chance. Edit : too bad I bought dailies and liquidated the LONGS what a failure... we'll see tho come monday.

[Axel]

People have been saying we're 'due for a downturn' since 2014 or so, and other than Corona--which bounced back like a monster ball--it ain't happened yet
WWhich isn't to say it might not happen next week, just that nobody is any good at predicting em and anyone who does got lucky

[ReconSWS]

I have retro-active confirmation bias (which never actually helps) but at least I'll have good weekend lul. https://youtu.be/Zl_TZ-R74Es?t=260

Basically he sayin he shorting TSLA and also recommending buying SQQQ which is a 2x SPY bearish index so SPY puts same difference. Apparently holding shares of 2x and 3x things is weird as they lock in losses and gains daily (i.e. if there is a loss day that amount is subtraced ffrom the underlying)...but as far as I can tell options do not care about this bs and OTM ones can be a cheapo gamble.

Allls I'm saying is LAST WEEK EVERY YOUTUBER WAS LIKE THE MARKET IS COLLAPSING, and this week it went all time highs, people are lulled into false security, perfect drop opportunity... but I can rationalize all I want it's literally no different tahn going all in on A,A pre-flop in a holdem poker game, bound to lose to some trash hand and get mad. Fuckin aces tho c'mon acessss do ya thing

[ReconSWS]

On second look, I think this is actually a sick ass play. 100x SPY 420p for Monday, I only need a 2% drop to get minimum 3x profits. Man shit if fuckin worth it for my stupid ass risk tolerance lmao.

[ReconSWS]

Okay well for once I made a smart call with NOK, baby popped up nicely today right after I bought my calls, easy 50% profits.

The absolute BEST strategy for me, is to do nothing, since I have 88x 10c for NOK september. These could be worth 50k if it truely is the 'one' memestock.

However, we're stupid as shit here, and we sold all of those for 50% profit and dumped every single penny into SPY 420 puts for MONDAY.

I mean the definition of insanity is repeating the same failing strategy over and over again, but c'mon it has to fucking work eventually lmao.

I set up a straw poll for the lulz : http://www.strawpoll.me/45435536

Technically though, I'm satisfied with my play even if I lose everything and Nokia does pop 350% the next day, because I kept me weeklies which are only $50.00 in value but still if we're really looking at true memestock potential with NOK, then even these 13x will make me happy.

Worst case scenario I just let it expire worthless, second worse is I sell at a loss at open most likely reclaim only 5%, good case is we hit 420 on SPY and I can escape with no loss and a bit of profits, best case is we drop a nice 5% to 405, which would make these babies worth like a bajillion dollars. We don't yolo every day but when we do.... it's usually shit. One of these days tho.

[ReconSWS]

Ok dudes, what is the next meme stock to go 300% in one week I need to put my money into that instead of stupid spy puts.

What we thinkin, NOK? LOL?

I actually considered AMC leaps last month... to bad I'm fuckin stupid LOL and keep thinkin the markets gonna crash.

[gabe]

Not that good lately, just flat line. They really took off earlier this year in january through march so I'm okay with that. Blue chips are a long term hold, not a quick way to make a few percent so I'm holding. Currently doing just fine on dividend payments. If you look around there's not much except meme stocks with any real upwards movement.

[bellicose]

Your blue chips doing good? Mine are so blah, I'm temped to dump them.

[Boddah2]

Made 100% on a handful of GME. Chickened out and sold AMC for hundreds in profit instead of thousands. That one hurt. Had good day trades with EMAN then the crash came… it’s on the way back up to even. Holding the bag on a couple others. Im more comfortable in crypto


Sent from my iPhone using Tapatalk

[gabe]

Back to boring old dividend collecting. The market got boring and I got tired of watching everything so now I'm just riding on blue chip stocks. Still upside down in ARKK and PLTR so it's a waiting game until they come back.

Went somewhat deep into EMAN when it was doing well and pulled back then it just continued to pull back even further. In an attempt to recover my cost basis I sold a covered call at the $2.50 strike which is expiring friday. Looks like I'll get assigned and lose a bunch. Good times. The urge to buy more and make a revenge trade is strong.

[bellicose]

I was getting excited, then I got greedy. I'm still holding GME, and it finally got to where I was positive, but not quite to my goal to make a little on top. Bastards started selling, and it is down again. I know I need to average down, but all this up and down is crazy. I just want to break even at this point.

[ReconSWS]

Well I've been unconvinced of this massive rally since it started and wiped out all the bears back in March of last year literally over one night went from complete world collapse to complete market rally.

But the reason why I think it's going to happen now, is because all of the 'analyists' who track the market crash, there is an old guy who has like a 20 week series tracking the market crash... they all now say it's going to happen in september. Here's a different one claiming the same thing : https://youtu.be/Frdqk1FWj3A?t=348

You are also claiming the same thing.. the fall.. would be convenient wouldn't it? It's right in the name.. the FALL xD

Anyways I notice people are easy to sway - why would a 28 week guy who was calling the market top 28 weeks ago now say it will be in sept. Something flipped him, something caused him to lose faith that it will happen tomorrow...... so that makes tomorrow the perfect opportunity xD... from a psycho-analysis standpoint.

But here's a non-trader's view on it and I like it since it backs me up https://youtu.be/XKPKHFbDNSE

It's probably better to wait for a 'confirmation' before playing a market collapse (i.e. overnight combo of circuit breakers) would be a good sign to confirm... otherwise yeah it'll just go sideways for god knows how long lmao.

[sniper97]

ReconSWS, I could see a pull back this summer or a sideways mkt, I think it moves up in the fall. Why do you forsee a collapse?

[ReconSWS]

The theory behind "insurance puts" a term I probably invented is that should the market collapse begin, it will not be a 1-day affair, although it may. It will likely extend up to 1 month. The insurance is to get paid on the initial drop, so you have money to play the rest of the drops. It's a stupid ass plan but dang if this ain't a bubble then what the shit we actually probably have contact with aliens and are shipping goods off world for enormous gains to justify these market valuations xD