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Bambi
Friendly Forrest Animal




Registered: 03/22/09
Posts: 1,668
Last seen: 6 months, 29 days
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Re: STOCKS - An Intro Tutorial & Ongoing Discussion [Re: metalfaith]
#27209245 - 02/16/21 11:37 AM (2 years, 11 months ago) |
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Well, had to go to the client site this morning for work and as a result, I missed my ideal entry on both MSFT and AMD - they each touched their resistance and support respectively. I'm going to practice patience and wait for another opportunity to enter those positions. I also had a standing order to buy a SWCH call that went through... the purpose of the call was to trade the bull flag, but the order went through on a breakdown of the bull flag. So I'll need to be mindful of this position since it was not an ideal trade.
In other news, a pretty boring day for me. Going to be watching a few more stocks, but nothing I'm really following closely at the moment.
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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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geokills
∙∙∙∙☼ º¿° ☼∙∙∙∙


Registered: 05/08/01
Posts: 23,417
Loc: city of angels
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Re: STOCKS - An Intro Tutorial & Ongoing Discussion [Re: Bambi]
#27209262 - 02/16/21 11:46 AM (2 years, 11 months ago) |
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SWCH is pain today, breaking down below it's morning lows. You've already admitted that your original thesis for the trade (buying during the bull flag in anticipation of a breakout) has been invalidated, so in my view, the trade should be closed. If you haven't already ditched it, I would set a stock based stop on your call, such that if the current day's lows of $18.27 are violated, you are out. Otherwise, you are trading on the hope strategy. Hope that your trade will work out, even though it's not the trade you had intended.
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-------------------- ┼ ··∙ long live the shroomery ∙·· ┼ ...╬π╥ ╥π╬...
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geokills
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Registered: 05/08/01
Posts: 23,417
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Re: STOCKS - An Intro Tutorial & Ongoing Discussion [Re: geokills]
#27210675 - 02/17/21 07:40 AM (2 years, 11 months ago) |
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Weak open today. Not doing much, except taking PLTR for a spin via common shares, off of the Goldman upgrade this morning and on the heels of its negatively received earnings report yesterday. Full stop @ $27.84 (morning low print), partial stop @ VWAP.
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-------------------- ┼ ··∙ long live the shroomery ∙·· ┼ ...╬π╥ ╥π╬...
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Enkidu
"No-Such-Person"


Registered: 07/09/16
Posts: 10,698
Last seen: 6 months, 11 days
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Re: STOCKS - An Intro Tutorial & Ongoing Discussion [Re: geokills]
#27210696 - 02/17/21 07:57 AM (2 years, 11 months ago) |
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I sold everything besides 3 stocks at this point.
Definitely made some mistakes these last 2 months or so with bad entry based on nothing and holding for a loss too long.
Learning and regrouping.
Gonna be better about cutting losses sooner and making better entries.
I was outperforming the marker now im underperforming 
Im just happy im still in the green with so many big mistakes more or less lucking out into decent winners.
Eyeing nndm for a breakout. Looks to be close to be breaking out of the channel
Eyeing X as well for a dip and rebound
MP is holding well. Only position i genuinely like long with everything going on.
Holding BABA and ACEV still
-------------------- Within You , Without You
      
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Enkidu
"No-Such-Person"


Registered: 07/09/16
Posts: 10,698
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Re: STOCKS - An Intro Tutorial & Ongoing Discussion [Re: Enkidu]
#27210707 - 02/17/21 08:02 AM (2 years, 11 months ago) |
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Actually MP is taking the fuck off.
You guys shoulda listened.
-------------------- Within You , Without You
      
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Enkidu
"No-Such-Person"


Registered: 07/09/16
Posts: 10,698
Last seen: 6 months, 11 days
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Re: STOCKS - An Intro Tutorial & Ongoing Discussion [Re: Enkidu]
#27210810 - 02/17/21 09:18 AM (2 years, 11 months ago) |
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Is making mistakes and being a bad trader rhe only way to get better? Assuming i learn from my mistakea
Made 3 bad trades today for a 3/3 bad trades today
-------------------- Within You , Without You
      
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geokills
∙∙∙∙☼ º¿° ☼∙∙∙∙


Registered: 05/08/01
Posts: 23,417
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Re: STOCKS - An Intro Tutorial & Ongoing Discussion [Re: Enkidu]
#27210918 - 02/17/21 10:24 AM (2 years, 11 months ago) |
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Quote:
Is making mistakes and being a bad trader the only way to get better?
Absolutely not. We all make mistakes, and they can potentially teach us how to improve. But mistakes in and of themselves are not the way to get better, especially if you fail to review in detail what you did wrong, take notes, and resolve not to repeat those mistakes again. You will take losses in trading, that much is unavoidable, but losses should generally not be derived from making a mistake. Your losses should be derived from adhering to your trade plan with strict discipline, and cutting a loser at the appropriate moment (i.e. when your plan's original thesis is invalidated and your stop is hit).
Enkidu, I've been reading your posts in here for weeks and I can feel your enthusiasm and desire to become a good trader, but I can't help but continue to remind you that you are trading way too much. It's easy to hit the buy and sell buttons, it's hard to know when to hit them. The money isn't made in the buying and the selling, the money is made during the time in between. You can only have the in between if you setup your trades well, so that you entry is near a logical stop level, and you give the stock enough room to work for you, all the while working to identify new levels of support as they manifest, where you can then ratchet up your protective sell stop in order to lock in profits along the way.
If you are making the choice to manually sell your positions in real time, more often than you are allowing your stops to take you out of them at predefined levels, you are very likely trading on emotion, and that is never going to get you ahead in this game long term. I can almost guarantee that trading on emotion is your biggest hurdle right now, when I see comments like the one you posted this morning about how "we should have listened to you" regarding MP. A successful trader won't often gloat over their best trades, because a successful trader will recognize that there are hundreds of opportunities out there on any given day, and for any winner they may bag, someone else is probably doing it better. Long term success in trading is a grind. It can be fun when the market is hot and you're making gains, but the best traders will recognize that getting too caught up in that excitement is what almost always leads to undisciplined trading as our egos begin to take over and make us feel invincible.
So my best advice to you Enkidu, is step back, trade less. "Paper trade" with fake money for a while, most major online brokerages offer this ability so you can hone your skills without losing your shirt in the process. You have a lifetime to figure this out, and they don't call it money harvesting for a reason. Trading is difficult. Most will have a few winning trades they can be proud of, but overall, fail to outperform the major averages. If that's you, don't feel bad. With dedication and discipline, you can "beat the market". But it requires a lot more effort, and the mental fortitude to tolerate two steps forward and one step back (time and time again) than most people tend to realize.
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-------------------- ┼ ··∙ long live the shroomery ∙·· ┼ ...╬π╥ ╥π╬...
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Enkidu
"No-Such-Person"


Registered: 07/09/16
Posts: 10,698
Last seen: 6 months, 11 days
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Re: STOCKS - An Intro Tutorial & Ongoing Discussion [Re: geokills]
#27210924 - 02/17/21 10:30 AM (2 years, 11 months ago) |
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Got it.
Definitely taking everything you said to heart.
Appreciate it.
The trades i made all hit my stop loss.
Ill have to evaluate if i placed the stop loss too high or if i just chose a bad entry point
I closed out a lot of my positions.
Going to try to take more time making good entry and be more patient overall.
Thank you Geo
-------------------- Within You , Without You
      
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CHeifM4sterDiezL
Chief Globerts

Registered: 07/28/10
Posts: 22,535
Loc: United States
Last seen: 35 minutes, 52 seconds
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Re: STOCKS - An Intro Tutorial & Ongoing Discussion [Re: Enkidu]
#27210944 - 02/17/21 10:47 AM (2 years, 11 months ago) |
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Don't worry dewd you'll blow up all your money eventually the pinstripe suits own and control everything. It's a great game. Geo keeps harping on developing your trading style essentially how your going to go at the market to carve out your money. He keeps saying things like plan your trades and follow thru on your plans. He let's his winners run but always grabs his profits very conservatively and doesn't trade on the emotion or by seat his pants. He doesn't chase the money he makes moves on what he thinks the price is gonna do. The only people that last say all these same things. The markets super volatile right now your getting dicked around out of your positions and wacked with losses. Notice how geo always pulls his money out and stops trading when stuff is volatile? You can just sit it out and watch or you can
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Enkidu
"No-Such-Person"


Registered: 07/09/16
Posts: 10,698
Last seen: 6 months, 11 days
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Re: STOCKS - An Intro Tutorial & Ongoing Discussion [Re: CHeifM4sterDiezL]
#27210966 - 02/17/21 10:56 AM (2 years, 11 months ago) |
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Yeah youre right, i would have been better off just being patient and waiting i think.
Yeah i been way too involved trying to rush shit. Need to relax and take a step back.
Im hard headed.
Takes a while to get through sometimes.
Thankfully im learning with the stop loss move and that nocked me out of my position fast and saved me from watching a painful bleed.
But the positions i was knocked out of are holding decent. Ill wait and see if i should have set the loss lower and see if they turn into what i originally was thinking they would.
Ill keep learning and developing a system that works effectively. Slowly adopt everything Geo has been telling me from the get
-------------------- Within You , Without You
      
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ManianFH
living in perverty



Registered: 07/06/04
Posts: 14,741
Last seen: 1 day, 7 hours
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Re: STOCKS - An Intro Tutorial & Ongoing Discussion [Re: Enkidu]
#27211002 - 02/17/21 11:16 AM (2 years, 11 months ago) |
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Despite owning some AAPL, I am staying rather level due to the crypto mining stocks (MARA/RIOT) performing well. Buzz is in that world right now, so I am loosening my stops just a bit to yesterdays high, but I am hoping that these will continue to march upwards. I am also beginning to look at the pots once again, though maybe they need more time to settle from last week. Might jump in with a small position, at a low buy, but the way its looking I dont see a dip happening.
TSLA down in the 7s... if it keeps dropping I wonder what effect that will have on aggregate market sentiment - not to mention half of the country being locked down in a freezing storm right now... I am wondering if there will by buy opportunities in the near future for a stock I had pretty said thank you and goodbye to.
Lastly, tried picking up a few NVDA stock this morning, it immediately turned sideways and stopped me out - NVDA has been a terrible dance partner and I am hereby officially BANNING it from my trade list.
-------------------- notapillow said: "you are going about this endeavor all wrong. clear your mind of useless fear and concern. buy the ticket, take the ride, and all that.... " ChrisWho said: "It's all about the journey, not the destination."
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Fiery
Sword of Fire


Registered: 12/24/12
Posts: 36,574
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Re: STOCKS - An Intro Tutorial & Ongoing Discussion [Re: ManianFH]
#27211068 - 02/17/21 11:58 AM (2 years, 11 months ago) |
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I'm watching OGI and TLRY to decide if I should get back in.... Is anyone else going to be buying back into those?
Also watching NIO-ASTI-UVXY- and a few others.
Right now I have zero positions. I pulled out entirely last week and am taking y'alls advice.
On a somewhat related note: The "stock market" price of silver is a joke. You can't buy silver hardly anywhere( physical silver) and if you CAN buy it- it's at like $5 over spot price. Major online retailers are selling new Eagles for almost $10 over spot- yet the stock market price of silver continues to hold between 27-28- and it even went DOWN yesterday around 30 cents. .
That makes ZERO SENSE- and is PROOF of market manipulation of the price of silver. Some people are signaling that this physical shortage of silver SHOULD be making the price go up- but it's clear there are huge financial forces at play preventing that from happening.
Thoughts ?
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CHeifM4sterDiezL
Chief Globerts

Registered: 07/28/10
Posts: 22,535
Loc: United States
Last seen: 35 minutes, 52 seconds
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Re: STOCKS - An Intro Tutorial & Ongoing Discussion [Re: Fiery]
#27211100 - 02/17/21 12:11 PM (2 years, 11 months ago) |
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Who the hell knows what's going on in cannabis right now I think a bunch of reddit retards started mucking around and fucked up the money for everyone
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ManianFH
living in perverty



Registered: 07/06/04
Posts: 14,741
Last seen: 1 day, 7 hours
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Re: STOCKS - An Intro Tutorial & Ongoing Discussion [Re: Fiery]
#27211287 - 02/17/21 01:38 PM (2 years, 11 months ago) |
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Quote:
Fiery said: I'm watching OGI and TLRY to decide if I should get back in.... Is anyone else going to be buying back into those?
Also watching NIO-ASTI-UVXY- and a few others.
Right now I have zero positions. I pulled out entirely last week and am taking y'alls advice.
I chose not to enter any pots, though am keeping an eye on them and may enter upon strength, I dont know maybe stocks in that sector are shaky after it (TLRY) shaved 50% last week.
Quote:
Fiery said:
On a somewhat related note: The "stock market" price of silver is a joke. You can't buy silver hardly anywhere( physical silver) and if you CAN buy it- it's at like $5 over spot price. Major online retailers are selling new Eagles for almost $10 over spot- yet the stock market price of silver continues to hold between 27-28- and it even went DOWN yesterday around 30 cents. .
That makes ZERO SENSE- and is PROOF of market manipulation of the price of silver. Some people are signaling that this physical shortage of silver SHOULD be making the price go up- but it's clear there are huge financial forces at play preventing that from happening.
Thoughts ?
As a holder of physical silver I am waiting this out. I assume that with continued ongoing stimulus money and fear of inflation, silver should continue to increase over the coming years. I almost sold during the reddit news that (falsely apparently) claimed everyone was going in on physical Ag, but would have taken a minimal gain with respect to the length of time I held it for. Waiting for $35 before selling - and to your other point, yes it probably/almost certainly is manipulated, but I dont have control over that, so just trade when it makes sense heh, and if it doesnt make sense, probably best not to trade it.
-------------------- notapillow said: "you are going about this endeavor all wrong. clear your mind of useless fear and concern. buy the ticket, take the ride, and all that.... " ChrisWho said: "It's all about the journey, not the destination."
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Fiery
Sword of Fire


Registered: 12/24/12
Posts: 36,574
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Re: STOCKS - An Intro Tutorial & Ongoing Discussion [Re: ManianFH]
#27211296 - 02/17/21 01:43 PM (2 years, 11 months ago) |
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Quote:
mick said:
As a holder of physical silver I am waiting this out. I assume that with continued ongoing stimulus money and fear of inflation, silver should continue to increase over the coming years. I almost sold during the reddit news that (falsely apparently) claimed everyone was going in on physical Ag, but would have taken a minimal gain with respect to the length of time I held it for. Waiting for $35 before selling - and to your other point, yes it probably/almost certainly is manipulated, but I dont have control over that, so just trade when it makes sense heh, and if it doesnt make sense, probably best not to trade it.
Right- great points- but go try to buy silver right now- call around to some local coin shop/bullion dealers- check online etc- everyone is sold out.
My local coin shop is paying $2 over spot- and selling for $6 over. that is UNHEARD OF for a coin/pawn shop to buy silver ABOVE spot- let alone $2...
I think selling when it hits $35 might not be too good of an idea- not all of it at least- because at that point it will be on a runaway and could be headed for $50+
I think that it's silly the "price" of silver is the paper price- not the actual price of physical.
But I am glad this is happening sort of because it blatantly and clearly exposes the silver market for what it is: A Fraudulent manipulated paper market. Anyone who owns physical silver sees this- it's just never been more obvious.
PS- about the pot stocks... I'm holding off for now too. Might buy in just a little bit if things stabilize as you said.
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CHeifM4sterDiezL
Chief Globerts

Registered: 07/28/10
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Re: STOCKS - An Intro Tutorial & Ongoing Discussion [Re: Fiery]
#27211318 - 02/17/21 01:55 PM (2 years, 11 months ago) |
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Ended up buying tilray just now for 31
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geokills
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Registered: 05/08/01
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Re: STOCKS - An Intro Tutorial & Ongoing Discussion [Re: CHeifM4sterDiezL]
#27211396 - 02/17/21 03:04 PM (2 years, 11 months ago) |
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I'm sitting on a little TLRY and CGC, about a quarter or third of what I would consider a full position size. I don't like holding large positions over earnings, and TLRY just released theirs after the bell. The headline number was a smaller than expected loss, and the stock reacted up a few bucks, but couldn't quite poke above yesterday's highs. The conference call just started so that could juice the move in either direction depending on how they paint their forward looking statements. The sector will likely be worth keeping an eye on tomorrow. Above $36 and I will be adding more TLRY to my books.
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-------------------- ┼ ··∙ long live the shroomery ∙·· ┼ ...╬π╥ ╥π╬...
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ManianFH
living in perverty



Registered: 07/06/04
Posts: 14,741
Last seen: 1 day, 7 hours
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Re: STOCKS - An Intro Tutorial & Ongoing Discussion [Re: CHeifM4sterDiezL]
#27211399 - 02/17/21 03:06 PM (2 years, 11 months ago) |
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wow, afterhours is quite different haha wtf.Quote:
CHeifM4sterDiezL said: Ended up buying tilray just now for 31
not a bad entry, considering afterhours is already pushed up to 35 on the earnings. I am curious where this is headed tomorrow.
MARA/RIOT crushing it still. I was stopped out of half of my RIOT earlier this morning, but between the two the ride has been excellent and I probably captured 40-50% of the gains from about a month ago. I am writing this as a reminder really to myself, to not get too aggressive with stops. Also writing this as a thank you to Geo for yet again having an eye for upcoming market trends - I would have never found (most of) these without your insight (ill probably thank you 1000 more times before this is all said and done so you dont feel pressured to acknowledge me )
-------------------- notapillow said: "you are going about this endeavor all wrong. clear your mind of useless fear and concern. buy the ticket, take the ride, and all that.... " ChrisWho said: "It's all about the journey, not the destination."
Edited by ManianFH (02/17/21 06:16 PM)
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CHeifM4sterDiezL
Chief Globerts

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Last seen: 35 minutes, 52 seconds
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Re: STOCKS - An Intro Tutorial & Ongoing Discussion [Re: ManianFH]
#27211455 - 02/17/21 03:50 PM (2 years, 11 months ago) |
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Member kids always fly by the seat of your pants spur of the moment soley on gut instinct and smoke lots of weed everyday but seriously I only threw a little dick towel money at it. 31 just seems cheap so I bit when it stalled at 36 I instantly started thinking were gonna see that little jump evaporate by morning. Still think it will do well 2moro but figured I'd prob be dumping it before the end the week anyway too much heat on her who knows what it's gonna do next
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Enkidu
"No-Such-Person"


Registered: 07/09/16
Posts: 10,698
Last seen: 6 months, 11 days
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Re: STOCKS - An Intro Tutorial & Ongoing Discussion [Re: CHeifM4sterDiezL]
#27211844 - 02/17/21 07:37 PM (2 years, 11 months ago) |
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I dig it.
Are you guys bullish on precious metals going into 2021?
Is it too early to tell kinda a have to see how things play out type of deal?
Im wondering if people are moving into some of those areas now.
And im thinking about slowly building a position while some of these stocks are low considering their weekly and monthly charts, so if things pop off, im already in and ready for take off
Anyone else feeling like precious metals, industrial metals, and energy materials, will be bullish over the next year or longer?
Im planning to build positions there anyway while working the market wherever volume and price movement is, but just wanted some opinion if anyone has any thoughts
Was also wondering if investment into infrastructure might be a smart play as well
I think i might devote 25% into those areas. Not sure how i feel about bonds. Ill do some research but they seem like too strong a bet on a deflating dollar to risk capital sitting there unused
Idk just trying to figure shit out. Dont expect too much response so just continue as usual if noone wanta to add their
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