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OfflineBrian Jones
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Re: STOCKS - An Intro Tutorial & Ongoing Discussion [Re: ManianFH]
    #27132285 - 01/07/21 06:41 AM (3 years, 21 days ago)

I think I'm going to sell CGC before the close today. Is my interpretation of a limit order correct? I'm thinking it means it will sell at the limit price or better, or if not it wont sell at all.


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"The Rolling Stones will break up over Brian Jones' dead body"    John Lennon

I don't want no commies in my car. No Christians either.

The worst thing about corruption is that it works so well,


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OfflinegeokillsA
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Re: STOCKS - An Intro Tutorial & Ongoing Discussion [Re: Brian Jones]
    #27132337 - 01/07/21 07:29 AM (3 years, 21 days ago)

You are correct Brian.  A limit will only execute when price is at (or more favorable) than the limit you set.

One other note to mick about the Dem's taking the Senate.. there is some conjecture that this could lead to additional regulation, higher corporate taxes and possibly even a more aggressive anti-trust stance on big tech.

Premarket action is looking very positive for the pot stocks.  Even NIO is getting a nice bid before the bell.  Best of luck everyone!


Edit:  Looks like NIO is waking back up a bit.  That high volume selling late day yesterday is of concern, but I can't argue with price. I'm back in with a small position, and a stop below the opening rotation low.  ROKU also making an all time high, in it for now, but it's moved a lot in two days.  Nevertheless, the funny thing about stocks that hit all time highs... is that they seem to continue doing it. :wink:

Edit 2: Preemptively closing NIO on the fall through VWAP.  Seems tired and like it'll be a tough slog to chew through the highs of the past three day range... at least not today.  Sold my Feb $9 TLRY calls for a 150% gain, rolling them up to Feb $11 calls on an intraday pullback.  ROKU still moving, but if you aren't already in, I wouldn't buy it now up 7%+.


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OnlineCHeifM4sterDiezL
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Re: STOCKS - An Intro Tutorial & Ongoing Discussion [Re: geokills]
    #27132384 - 01/07/21 08:06 AM (3 years, 21 days ago)

PLUG up 25%


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OfflinegeokillsA
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Re: STOCKS - An Intro Tutorial & Ongoing Discussion [Re: CHeifM4sterDiezL]
    #27132398 - 01/07/21 08:21 AM (3 years, 21 days ago)

Very nice.  Some traders in the SMM forum (a tremendous resource for active traders) have been following that one for a while.  A very solid performer, that unfortunately I haven't owned!

Adding SHOP to my holdings this morning, as it has also been a huge performer, and looks to be finishing a little cooling off period to test its breakout above $1100, which was defended this morning.


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OnlineCHeifM4sterDiezL
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Re: STOCKS - An Intro Tutorial & Ongoing Discussion [Re: geokills]
    #27132425 - 01/07/21 08:36 AM (3 years, 21 days ago)

Yeah as soon as they landed the Amazon deal I knew they were here to stay and gonna be making money for years to come. Some Korean company has now partnered with them with a billion and a half investment to become global leaders in advancing the development and distribution of this emerging tech application. They do hydrogen fuel cells on like forklifts and pallet jacks and other equipment. Although I do expect the stock to cool off for a bit soon. It seems the market see all the capitol building shenanigans as no big deal :shrug:


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OfflineEnkidu
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Re: STOCKS - An Intro Tutorial & Ongoing Discussion [Re: CHeifM4sterDiezL]
    #27132709 - 01/07/21 11:11 AM (3 years, 21 days ago)

Do you think a company like APHA based in Canada will benefit from a blue state as well if they were to begin operations here, or is that too large of a speculation?


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Within You , Without You


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OfflinegeokillsA
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Re: STOCKS - An Intro Tutorial & Ongoing Discussion [Re: Enkidu]
    #27132722 - 01/07/21 11:19 AM (3 years, 21 days ago)

Canadian providers are correlating with positive US news flow and the associated expectations for legalization.

NIO is really putting in a good showing after yesterday's selloff.  I'm back in as it moves over yesterday's high.  I expected more resistance here, but when the opposite of what you expect to happen, happens, it's usually worth paying attention.


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OnlineCHeifM4sterDiezL
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Re: STOCKS - An Intro Tutorial & Ongoing Discussion [Re: geokills]
    #27132763 - 01/07/21 11:48 AM (3 years, 21 days ago)

:barbershreds:


Edited by CHeifM4sterDiezL (01/07/21 11:49 AM)


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Invisiblesh4d0ws
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Re: STOCKS - An Intro Tutorial & Ongoing Discussion [Re: geokills]
    #27132812 - 01/07/21 12:14 PM (3 years, 21 days ago)

Quote:

geokills said:
Very nice.  Some traders in the SMM forum (a tremendous resource for active traders) have been following that one for a while.  A very solid performer, that unfortunately I haven't owned!

Adding SHOP to my holdings this morning, as it has also been a huge performer, and looks to be finishing a little cooling off period to test its breakout above $1100, which was defended this morning.





Does it cost money to register on that forum, or am I just doing it wrong :shrug:


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OfflinegeokillsA
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Re: STOCKS - An Intro Tutorial & Ongoing Discussion [Re: sh4d0ws] * 1
    #27133636 - 01/07/21 06:27 PM (3 years, 21 days ago)

It is a pay service, yes.  You should be able to try it out for a month for like $7 (and he'll refund that if you don't like it).  For what it's worth, it's both the best general education trading resource and the best real time strategy resource I've ever come across.  The generally daily strategy sessions they produce, in addition to the members that contribute ideas in the forum in real time throughout the day, is definitely worth the spend if you're trading on the regular.


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OfflineEnkidu
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Re: STOCKS - An Intro Tutorial & Ongoing Discussion [Re: geokills]
    #27133698 - 01/07/21 06:46 PM (3 years, 21 days ago)

Have you ever used IBD geo?


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OfflinegeokillsA
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Re: STOCKS - An Intro Tutorial & Ongoing Discussion [Re: Enkidu] * 1
    #27134181 - 01/07/21 10:23 PM (3 years, 21 days ago)

I've glanced at Investor's Business Daily once or twice over the years.  For the most part, I'm usually aware of stocks that land on the IBD50 well before they land on the IBD50.  It's such a widely followed publication that I don't really feel like it gives you any edge.  Just like I feel like watching CNBC is almost always a waste of time.  Reading the Wall St Journal... typically yesterday's news and already factored into the tape.

The most genuine, real time aggregation of all the knowledge and expectation surrounding a publicly traded company, is price, plain and simple.  Show me a chart and I'll try to make sense of it.  A good fundamental backdrop may help build confidence, but price is the ultimate arbiter of my decisions in trading.


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OfflineBrian Jones
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Re: STOCKS - An Intro Tutorial & Ongoing Discussion [Re: geokills]
    #27134413 - 01/08/21 02:34 AM (3 years, 20 days ago)

I have a question geo. It sounds like you do a fair number of short, relatively short and medium duration trades. What does this all amount to when it comes to getting your tax return done?

I have always done my own taxes, even when I was required to use long form. As I get more involved in this I expect I will be paying somebody to do it, but I hate the thought of paying for many billable hours.


--------------------
"The Rolling Stones will break up over Brian Jones' dead body"    John Lennon

I don't want no commies in my car. No Christians either.

The worst thing about corruption is that it works so well,


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OfflinegeokillsA
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Re: STOCKS - An Intro Tutorial & Ongoing Discussion [Re: Brian Jones] * 1
    #27134612 - 01/08/21 07:12 AM (3 years, 20 days ago)

These days it is very simple, thanks to brokers providing a consolidated 1099-B which includes both the sale (proceeds) and purchase price (cost basis), including classifying those numbers in two sets (short vs long term).  I would never (and have never) bothered typing in the hundreds and sometimes thousands of transactions into my IRS return.  As is openly stated on Form 8949:
Quote:

You may aggregate all short-term transactions reported on Form(s) 1099-B showing basis was
reported to the IRS and for which no adjustments or codes are required. Enter the totals directly on
Schedule D, line 1a; you aren’t required to report these transactions on Form 8949 (see instructions).




For items such as cryptocurrency, that I do still need to self-report, I will fill line 1a with "cryptocurency", line 1b is "various" and line 1c is "12/31/xx" to indicate the end of the tax year.  This was advised as appropriate from my tax professional who used to work at the IRS (although that was now some time ago and things do change).  Haven't had a problem yet, and if I do, there are a fair lot of software based solutions to do the heavy lifting for you.  I use CoinTracking.info to prepare my tax reports for tradable instruments such as crypto that won't provide their own 1099-B.  I haven't been asked to furnish these to the IRS, but I keep them handy just in case.

Back when I started trading and when you had to calculate your own basis during tax time (and trading commissions were actually a thing), I was a bit more hesitant to actively trade. These days, I don't fear the tax man, as the brokers do the legwork for you now.


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OfflinegeokillsA
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Re: STOCKS - An Intro Tutorial & Ongoing Discussion [Re: geokills]
    #27134811 - 01/08/21 09:47 AM (3 years, 20 days ago)

Picked up some UVXY here around $10.25 via Feb $10 calls (with a stop at $10).  The market has been strong these past few days, likely on the assumption that a democratic congress/white house will push more stimulus through, and that some of that stimulus will ultimately flow into equities.  However, price action has been pretty whippy this morning, and I just think there's a little more risk going into the weekend, given the civil unrest that keeps cropping up around the country, the alarming pandemic numbers, job losses, etc.  The easy money may trump all that, but I don't want to be fully loaded and unhedged.


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OfflineBambi
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Re: STOCKS - An Intro Tutorial & Ongoing Discussion [Re: geokills]
    #27134928 - 01/08/21 10:56 AM (3 years, 20 days ago)

@Geokills, What are your thoughts on AVTR? Stop at 24.48 or so?

Also, I like the Microsoft chart (bouncing off the lower end of an upwards channel), but don't love the SPY... they are so closely coupled that it makes me nervous to have mixed feelings on the two. Any insight?


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OfflinegeokillsA
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Re: STOCKS - An Intro Tutorial & Ongoing Discussion [Re: Bambi]
    #27134988 - 01/08/21 11:23 AM (3 years, 20 days ago)

On AVTR, if you're in it for the breakout, the 8 day EMA must hold (presently at ~$28).  If you like it longer term and want to give it a longer leash, the next logical stop would be $27, where the stock found buyers on Jan 4th, 5th, and again on the 6th.  The final line in the sand would be the 50 day moving average.  If you have a larger position with a longer term time horizon, I would place partial stops at all three levels.  If the first two stops get hit, but you see a bounce at the 50 day, that would be your cue to put the capital that was stopped out, back to work at a more favorable price (you could even go in bigger, but you would need to have confidence in the bounce, and adhere to a strict stop at the daily low of that bounce in order to avoid having your head handed to you).

MSFT is fairly directionless right now.  The SPY is actually the stronger chart, with stacked 8/20/50/200 day moving averages in chronological order and all moving higher, and it is coming out of a volatility squeeze.  MSFT on the other hand has the 8 & 20 & 50 pretty much right on top of each other, the Bollinger bands are also fairly wide because it failed on its latest attempt to breakout and fell back into consolidation.  I would rather be buying MSFT on a move above $228, or a bounce at its 200 day @ $200.


Ahh, here come the sellers.  That UVXY is paying its way now. :smile:


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OnlineCHeifM4sterDiezL
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Re: STOCKS - An Intro Tutorial & Ongoing Discussion [Re: geokills]
    #27135045 - 01/08/21 11:36 AM (3 years, 20 days ago)

Sold Microsoft this morning


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OfflineBambi
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Re: STOCKS - An Intro Tutorial & Ongoing Discussion [Re: geokills]
    #27135075 - 01/08/21 11:45 AM (3 years, 20 days ago)

Meant $28.48 in my post :facepalm: so, yeah, we are on the same page there. I'll be a bit more patient with finding support at the 8 day EMA.

Interesting on MSFT - we disagree more there. I'm gonna hang in for the support at trend (~216.80) and then for the more decisive support at $216 (which is where I initially entered my call position, so I'll take a bit of a loss there).

Nice Cheif. I was slightly positive on that move up and considered it, but didn't pull the trigger since I didnt notice the market's overall choppiness. I was focused on SQ going below $82 to keep my vertical call spread ITM.


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"I want to read, talk with my friends via the computer, and enjoy my life now that people know I'm not dead. " -Rom Houben


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OfflineEnkidu
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Re: STOCKS - An Intro Tutorial & Ongoing Discussion [Re: CHeifM4sterDiezL]
    #27135076 - 01/08/21 11:46 AM (3 years, 20 days ago)

Any thoughts on tsla as a long term? I see it kinda looks like people may be taking some earnings and i thought about trying to jump in


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