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Stock Market 2020

5150Jeep said:
Well I can add another one to my growing list of getting out too soon. :homer:
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don't worry, i didn't sell any and in the hopes of seeing $15 (but with no actual orders or stops or whatever set) i'll probably miss the window and sell it off at $9 next year or two :laughing:
 
PG&E (PCG) is finally climbing. Up 8% to thejust today alone, and it's been climbing all week. Currently at $12.66

Going to pull the trigger and sell when it hits $13 - $14 range. That will double my investment........ I was just in it for the short term.
 
5150Jeep said:
Tesla finally made it to the S&P and went crazy overnight. Wish I had the nerve to get into it months ago.
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How about now? Announced S&P inclusion after hours, went to 450, retraced to the 435 pivot, I loaded on 450 and 470 calls. Went down several thousand dollars.

Yesterday, not in front of my trade station as I had to head to the track. Got busy with race car stuff, and when I looked at my positions TSLA was 480. Sold half my contracts yesterday, popped 500 this morning, and sold the other half. 2 x 5 figure days in a row. $6 contracts averaged out over 36 per. For all the times I have screwed up on TSLA trades this made up for it and then some.

Cannot believe this is 2500/share pre-split levels. And it has dragged a bunch of other EV companies, Lithium battery suppliers, and even the EV ETF way higher.

Hope you guys loaded NIO when it dipped to 38 last week, back near 50 today then retraced a little. Earnings were good, profit was taken, I think this grinds higher long term. Risk / reward not great though, as you would have to set stops sub 45. Wait for a pull back first, or set a buy order when it breaks over 50 (small position, first target ATH's, then consider another small add if it breaks ATH's) Trailing stop sell order once the trade goes green.

JMIA - African Amazon. Been on a run lately, let it consolidate over 20, and buy any dips. Even better is it gets back to 18.50 ish. You can see this stock makes a move then consolidates in a channel for a while, then moves on earnings or news. I have added several hundred shares to long term retirement accounts as potentially this could be worth over $100/share once they see green in the ledger, but that may be 5 years down the line. Manage your risk.

Given my bullish nature (though I try not to let my bias affect my trading) you would think I would be all in. I am actually about 60% cash tonight, and with some options expiring tomorrow, I should be almost 80% cash over the weekend. Market feels tired, and while the consolidation and rotation has been good, and earnings season was probably better than expected (we expected Q3 to be total shit back in March and April, and it was not nearly as bad) it just feels like we could chop around here for a while. But bad news (Trump actually wins election, Chinese virus cases explode, the virus drugs fail) and we could see a decent pull back on the indexes. Maybe not 20% - which would put SPY back near 300 - huge level of support at 297, but 10% would put us around 325 area (big pivot at 322). I doubt it gets that serious, so in the short term, we could see a pull back to 347 if 352 fails.

Good to hear you PCG guys are seeing a return. Nice.
 
Pocahontas said:
Ba has been up nicely recently, as have other airlines. Broke the 150% mark since March taxes are going to be a bitch this year.
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Those traders that bought BA at 85 are looking brilliant. I have a couple positions cost average around 127. But also holding several hundred shares in an account with a cost average of 225 - so still red, just not as badly as it was. I guess I have matured as a trader as years ago I would have cut the position for a loss, and been crying in my beer. Instead I went back and looked at my trade plan, and fundamentally the plan was sound (as long as Covid eventually goes away), perhaps there were many technical indicators that would have signaled sell. Or I am just one of the worst bag holders out there. :grinpimp:
 
well shit. PCG is $12.29 and WES is $13.60

for all rights and reasons i should sell off my WES, but my 10 shares just earned my $3.10 in quarterly divs the other day :lmao: Who would walk away from $12 per year?
 
XtremeJ said:
Those traders that bought BA at 85 are looking brilliant. I have a couple positions cost average around 127. But also holding several hundred shares in an account with a cost average of 225 - so still red, just not as badly as it was. I guess I have matured as a trader as years ago I would have cut the position for a loss, and been crying in my beer. Instead I went back and looked at my trade plan, and fundamentally the plan was sound (as long as Covid eventually goes away), perhaps there were many technical indicators that would have signaled sell. Or I am just one of the worst bag holders out there. :grinpimp:
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I wish I was employed when BA hit under $100, but was worried about the world ending and figured I would need the cash.:laughing: I have a bunch of IRA money in cash from a rollover mid covid meltdown that I need to move into stock, it's like 80% cash, waiting to see what happens with the election I guess. Maybe I'm looking for too good of a deal that will never come.
 
Slander said:
I wish I was employed when BA hit under $100, but was worried about the world ending and figured I would need the cash.:laughing: I have a bunch of IRA money in cash from a rollover mid covid meltdown that I need to move into stock, it's like 80% cash, waiting to see what happens with the election I guess. Maybe I'm looking for too good of a deal that will never come.
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Ba is back to above $200. Great long term play even at current numbers in my opinion, I've bought some at $100, $125 and $150.
 
Pocahontas said:
Ba is back to above $200. Great long term play even at current numbers in my opinion, I've bought some at $100, $125 and $150.
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BA is carrying a shitload of debt, if interest rates go up even a small amount they are in trouble. The US is devaluing the dollar, so as long as that keeps happening it should be ok.
 
Norm said:
BA is carrying a shitload of debt, if interest rates go up even a small amount they are in trouble. The US is devaluing the dollar, so as long as that keeps happening it should be ok.
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As an employee of BA. I can tell you I have not owned stock since the second crash, including in my 401k. I also don't plan on buying any. Numerous co-workers are in the same position.
 
I look at it as an essential business that the military will always use/keep afloat.

They are also depressed become of the 737 crashes that should be easily fixed.

In light of the comments though maybe I sell my position and sit in cash for a bit, just hate to take the gains this year as it is not in a tax friendly account.
 
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GonPostal said:
This.... Being retired; I may cash out a large sum of my 401k before years end while the going is good, enough to manage tax hit. Then another big dump of the 401.k at the beginning of next year, to manage the tax hit then....

I don't have confidence in Biden, with what he's been yammering on about 401k's, inheritance taxes, etc.....
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cashing out of the 401K is stupid, sell but keep it within the 401K and manage your tax liability .
 
Alaska Airlines is up into the mid $40 range again as well.

i think boeing and the airline industry as a whole are overly optimistic that a biden presidency means they will get their Trillions in bailout with the next stimulus in February 2021.

free chance to federalize a whole shitdone of debt and obligations? yeah, that will set about all of them up nicely next summer when travel picks up again
 
5150Jeep said:
Dow Jones just hit 30K. :eek:
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yeah, shit is crazy.

i'm just hanging out, trying to figure which of the things on my watchlist is going to go down. ruger has come down a bit, but not enough for me to justify taking a bunch of gains and sinking them into that, but i dunno.
 
TSLA pinging 550. Own equity only, 3 large options trades have made my year. Need a retrace before I dance with TSLA options again. One of the firms set a $1000 price target earlier this week (could be for a couple years out though)

NKLA - our old friend, been on the up and up since the CEO left, 35 plus this morning, had strength when other EV's were pulling. Been long since low 20's, partial equity left. Actually took profits yesterday and then boom today. Going to take most off before close

NIO - flirted with ATH's this morning, needs a pullback to at least the 8EMA for me to add long. Very small contracts for May 21 $30 calls. Bearish short term, too extended

JMIA - was looking over extended yesterday, took most of my profits. Gapped and crapped this morning. Needs to consolidate for a while. Could retest 24 - 25 area, would be a good spot to re-enter when it does. Bullish long term, but risk / reward not there now. Will be looking to book last of the Jan21 $14 and $20 calls, been long the $20's at 0.86 per contract, traded at 14.00 at open this morning, huge winner. Will look to roll up next week, and buy more time.

JKS Solar bit me hard last month, loaded on some puts, stock skyrocketed, failed to sell when I should have, ended up bagholding, and getting out eventually with a 50% loss. So patience certainly reduced my loss, but had I been smart I could have broken even. Now it has broken out of it's month long down trend. Another green deal type stock, might run on this rotation, and IF history repeats it could run for a couple weeks. Can move counter to the market, long options for Dec.

GOLD - stopped out at 25.50 on some equity I was long at 29.00, small loss. Still holding majority of equity position (cost average 26.25). Gold does not like the vaccine news and I am always wary of changing my stops, especially down. Means I am changing my original trade plan.
SLV - the only other red positions, I have. Hedges though so won't bail on these yet, and the options are likely to go to zero.

Not going to trade much the rest of the week, manage your risk, happy trading
 
A few random thoughts:

I bought BA in low 90s and sold at 154. Wish I kept it, but I don't think it stays up here. BA and airlines still have a lot of pain coming. Not many are going anywhere until at least next summer.

Loaded up more in my BP position at 15 and feel like a stock genius right now. Probably time to sell a part of it for the same reason as above. Economy is going to slow way down after Christmas. Q1 and Q2 next year will be sluggish at best.

Sitting on about 30% cash now and can't find anything remotely close to a good buy. Biden/vaccine bump will be short-lived.
 
Talked my GF into buying 10000 shares of Lockheed Martin. She fucking diddled around all day; cost her 7.6k more by the time the trade executed. Fucking VOO (ETF) has been treating me really good; might get some more just for shits and giggles. :smokin:
 
billdacat said:
Talked my GF into buying 10000 shares of Lockheed Martin. She fucking diddled around all day; cost her 7.6k more by the time the trade executed. Fucking VOO (ETF) has been treating me really good; might get some more just for shits and giggles. :smokin:
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You talked your girlfriend into buying over 3.5 million US dollars of lockheed martin? Does she have a sister?
 
crisbee1 said:
Paying myself, 30,000 was a goal, pulled out enough to pay off the mountain house and a little play money.:smokin:
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congrats!

yeah, i'm up over my goal of being bale to get my power steering pump, but i won't really have much time to mess with it, so i guess i'm just going to let it hang out.

really should figure out how to set up sell stops when things drop like 3% or 5% or something
 
One day I might take some actual cash to play in the market... Until that day comes I'll just watch my 401K make more money than the company pays me. I made more than my two week bring home in one day yesterday.

That's going to drop like a stone I suspect. We shall see. Strange times.
 
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