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Quoted from pinballjah:Going to be a very interesting day on the markets. Looking to pick up some OILU at the right price and write some long covered calls. VIX will fly today.
I don’t know a ton on the stock market but starting to learn from my brother. Early Last week he had me buy sqqq with the virus and it appears to be going up. I guess it goes up when the market is down. I’ll just have to see when to sell
Quoted from loneacer:Those leveraged ETFs are dangerous if you get them wrong. I played around with them 6-8 years ago and lost my shirt. Multiple times I lost $25k overnight. Still have a capital loss carryover of about $100k on my yearly taxes from them. On a positive note, I can make gains for several years to come without paying taxes on them because they'll just lower that loss carryover.
Gotcha, I only did 2k on it and bought at around 16 but it’s up to 17.39. He did tell me they are a gamble but I am ok with the little amount I did. He has much more into it. I’m sure I’ll sell soon.
Quoted from loneacer:They're short term trading vehicles. Over the long term all of them will go to 0. Go back to 2012 and SQQQ was over 6000. A lot of them are based on the options market and they lose money each month when they roll the options from one month to another. That and something that goes up 10% in a day, then down 10% in a day will end up lower in the long run. (100 + 10% = 110 - 10% = 99)
Ok, thanks. He did say not to keep it long. We really only had a limited amount of time with the virus impact. He thought sell around 19 or 20.
Quoted from TigerLaw:I don’t disagree with you but the spreading of all this rampant fear is resulting in the cancelation of a lot of stuff. So many people are scared to travel or go to events now, revenue lost from things like the cancelation of a 30,000 person convention in New Orleans or Vegas will never be recovered by those communities. It’s sad, but it’s worse than the recession talk of last year because it has so many people afraid to leave their house...
That said, I’m glad to see so many people now practicing good hygiene, I’m hoping the fist bump will replace the handshake and people will keep up their hand washing once all the freaking out is done in a week or two.
Sadly this scare is combined with the oil prices going down. That is going to stimulate some things and depress others.
I’m not traveling only because we are told it must be business critical. I am making a trip to Chicago because It’s the only business critical meeting I need to be at. They have cancelled all our events as a precaution but most of us travelers in the company feel it’s way over blown. If they documented and tracked every flu Case/death in the same manner as this we would think the world is ending.
Btw, I am not complaining about not traveling because it get to be at home for a while with my family.
Quoted from Concretehardt:I am sorry to hear that you are bailing on this thread, i have very much enjoyed seeing your trades. I appreciate how you post winning and losing trades, i hope you take a break for a bit and then get back in here to talk about the markets.
I don’t blame him. This was one of my favorite threads but it turned into another drama filled pinside thread because of a couple of folks. I hope it gets back to the normal stock chat
Quoted from TheFamilyArcade:Yeah, just normal stock chat in a world that’s totally shutting down and where markets are cratering. So much DRAMA!
Deal with it.
Yep, the sky is falling better let everyone know on pinside.
Quoted from TheFamilyArcade:The whole world is dealing with this. The sky is falling on countries. Pinside is my casual relief. Maybe you should start paying attention to the the real - non pinball - world.
Yikes, this is your casual relief?!?! The way you have commented on here I would hate to see how you act in the real - non pinball - world.
This is a dumb question but I’m asking it anyways. Dow futures going up or down, is it folks from other countries trading us companies? I can’t trade after hours, correct? I’ve tried on E*TRADE and it looked like I couldn’t
Quoted from RA77:World share market seeing more Green than Red
Can see a crazy ride in next few months
Personally I am willing to jump on board and play the game
https://au.investing.com/indices/world-indices
Yeah, I’ve been using 2500 just to play around with during the last month and I’m up to 3200. It’s been kind of fun basically day trading here and there.
All my 401ks are destroyed though but I don’t have to retire for a long time so I didn’t mess with them. Last I checked they were down 25% 
Quoted from kpg:Dow is close to my first resistance level at Dow 22K, I just sold every stock I bought this week for 40-75% profits. Sold half my BA @ $173 today, half my AAPL @ $254 and holding only those for now.
Expecting a big pullback once ugly unemployment numbers hit tomorrow.
It's not totally out of the cards to see Dow 18K again by next week.
Now, if we rally on jobs numbers and close over 22K, a move to 23-23.5Kish could happen but unlikely.
I bought VXX Calls right now betting on more volatility to come.
How does VXX react to the market? I’ve messed around with tqqq and sqqq
Quoted from pinlink:Nice! I admire your balls, sir.
And I hope you're right.
Well, all in with the extra I’ve made this year so I’m ok to lose it...lol.
Quoted from Zablon:No one cares about the number of cases, only the number of deaths, which is still under the flu!! So...
That probably is true especially when they say 80% has mild or no symptoms. If the death rate increases drastically then folks will pay attention.
I still cant believe how many people are out and about here in Michigan. I thought it would be a ghost town when I went to get milk.
I do think the stock market will drop tomorrow for various reasons including the increased cases
Quoted from Happy81724:Went all in on sqqq at close...we will see!
I think I’ll sell half this morning and the rest in the afternoon. I’m betting we end down as well. Then I’ll probably sit and watch for a couple days to decide what to jump into next.
Quoted from Rondogg:Trump moving the goalposts to April 30, how will wall street respond?
I’d assume it will drop a good amount tomorrow
Quoted from ptrav1:Maybe we are back to the bad news is good news market.
This what I read as to why The market is up today.
Trump approved using the malaria drug starting. Home sales grew in February, 9% yoy and beat estimates and virtual tours massively up.
Also read that Many took the extension as short term impact and not long term with all the stimulus measures in place
Not sure if anyone else bought STZ when I mentioned it yesterday but they had good earnings report out. Topped profit and earnings. Up right now, not sure when I’ll sell yet
Quoted from DBLM:Let's have a little fun today. It is 9 AM and the DOW is projected to open down. We know that there tends to be a selloff due to people not wanting to hold over the weekend. What are your predictions for the Dow closing today? I predict the DOW will close down 425. What are your predictions?
It’s tough, it’s not reacting as much to bad news but Friday’s are usually down. I bet on it down last night and bought a couple hundred dollars only of sqqq before close for fun. I think a couple hundred down today. -245 maybe.
Did pretty good today on buying sqqq yesterday and selling 10% up. Bought STZ On Thursday at 124 before their earnings. Sold half at 133 right before close but I think it will go up more next week. Everyone have a great and safe weekend!
Quoted from loneacer:15 minutes later and they're up 700 points now. Market is liking lower COVID new cases in many countries today.
They also think NYC has peaked so cases will start going down.
Quoted from loneacer:One day of data is a bit soon to party, but yes it seems new cases are lower almost everywhere. Deaths won't peak for another 1-2 weeks though.
Yep, I agree but it was part of the article I read on why market is up even though oil prices are tumbling. It should be another interesting week
Quoted from dts:It would be interesting for pinsiders to post their returns since the start of this thread, and various approaches to the market. I'm more of a buy and hold guy than kpg from his description. My timing was off, as I considered going to cash before this correction...but it was going too well...oops. Still off 20% but there are some good values out there right now, so I'm both moving some to cash and investing in other equities.
All me and my brother have been doing is looking for stocks that will rebound fast based off good news During this time or shorting it when you know it will be down. I know shorting is risky but its been pretty easy to determine when it’s coming and not putting all my eggs in one basket. I have been hurt a couple times shorting but definitely made more than lost. I also look at 1 week Peaks and see what has the most upside for stocks
As of late the market really seems to react to any positive news and is getting a little less crazy to negative. Not sure how long that will last. I mentioned stz a couple days ago which is in beer, wine etc. we assumed they would have good earnings based off the home consumption Bought at 124 sold at 138 and the rest at 160. Amazon announced it won’t be using its competition trans service, bought UPS in the morning sold when up 5 bucks. Bernie withdraws from running for present, my brother bought Cigna instantly. It went up 8 dollars, sold at the end of the day.
I’m betting down tomorrow so have sqqq as a short with no market on Friday. I might slow down trading as much as I have lately. I’m sure I’m getting somewhat lucky and I know there are a lot smarter folks who understand this way more than me. Here is how I have done in the last 3 months
A88B7377-6BAE-4529-AA93-06FD25BA686C (resized).png
Quoted from greenhornet:anyone subscribe to this theory:
thursday will be a manipulated up day so that americans can better enjoy their holiday weekend. any carnage will be postponed into next week.
I bet down yesterday and Still think it will be down. Jobless claims among other news isnt great and end of the week is typically down. Not sure how it would get manipulated enough to be up but maybe. I have been wrong a lot
Quoted from loneacer:Fed announced a new 2.3 Trillion lending program.
Yeah, great response from the fed, futures are up. I’m still saying down for the day but the fed is on it
Quoted from TheFamilyArcade:Smells like a fart to me.
Do you ever actually provide stock market advice in the forum?
Quoted from Concretehardt:Makes me wonder how Ford will survive, didn’t they lose like 5 Billion last year?
They made 84M but it was a bad year last year. This will not be good for them.
https://www.cnn.com/2020/02/04/business/ford-earnings/index.html
Quoted from Ericpinballfan:Everybody given away new cars. 82 mo 0% intrest! Wow, there begging for a sale. They don't care, just come get a car, we don't care, make a payment 6 months from now, 2 hundred bucks, we don't care, just come get a car.
Tesla up.
We are in the market for a new car and GM has dropped trade ins dramatically plus reduced cash discount offers. We are getting 3k less for our trade from the feb/March value. I have a good friend who owns a Chevy dealership and he is hoping trade values come up in May and better cash offers. The push in payments is nice and zero interest but with I’m ultimately paying 6-7 thousand more than if I traded in feb or March. They need to fix this to get me to buy in May.
Quoted from BMore-Pinball:there are few active auctions right now for dealers to dump used cars they take in. Hence the lower trade in value since they have to sit on it or try and sell it on their lot.
Yep, we will see what May brings. Otherwise we won’t trade it in. It only has 97k miles and we bought it new in 2012 so no real need to let it go and get a new one.
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