The Stock Market 2024 Thread

[rockota]

Don't forget your capital gains tax, and regular income tax. So how much did you make?

can't answer that until I do my taxes... will see if i can offset the gains with losses, and hopefully pay no taxes on these trades...

 

[Roc Doc]

can't answer that until I do my taxes... will see if i can offset the gains with losses, and hopefully pay no taxes on these trades...

You really shouldn't be stock gambling.

 

[rockota]

You really shouldn't be stock gambling.

????

 

[DannyK]

LOOOOONG and loving it.

 

[XtremeJ]

Been very light on trading the past week. Me from 5 years ago would be proud that I have learned market conditions and patience, current me is hating this new found maturity and patience.

Long IONQ through Dec 15 call options, 1/4 position. Earnings tomorrow. May take stock if earnings good, and election is settled not contested

Long JD through Jan 50 call options, risky trade as it relies on china gov subsidies, 1/4 position.

Long UPST for earnings in a couple days, lotto play, 1/8 position (5 contracts in this case.

Sitting on cash in most accounts, stops set in case the steal is real.

Options stops I typically use 40 or 50% stop loss especially if short term expiry.

DJT?

Going off recently established levels, and bearing in mind news driven not technical drivers,

I have alerts set over 42.2x, just an alert not a buy because - if it does become too big to rig, I could see DJT gapping up to open over 50 - 52

But .....

Previous me is now pissed the fuck off with current no risk me.

4 years ago and I would have retired from my positions yesterday, instead it was just a 5 figure day.

Still keeping it light this week, and in all probability next week will go back to boring but updates to above
AMZN - not posted above, because I only triggered yesterday when it broke 201.7x, tested, retested, then onwards and upwards. Higher today, now needs to consolidate. Have stock going back years, but used Dec 6th 205 Calls. Bought at 4.20 incl. fees, currently near 10.xx. Stop order on half at 8.50 to ensure 100% on first half, remainder of position set at 7.95 through a 2.4x trailing stop. Set them and forget them. If the 8.50 triggers I will evaluate the rest of position and sell or ride the stops.

IONQ - crying over my small position only took 1/4, of normal buy. But lets focus on process and profits not tears. Beat and beat on earnings and raised forecast and stock likes that. DCA on Dec options was 1.8x, currently at 6.42, stops on 1/2 that small position set at 5.50 for a 200% gain, and a trailing stop on the rest. Keep an eye on this for a PEG play, positive earnings gap. Take a look at the daily chart, today is the flag pole, watch over the next week or so for it to consolidate into a flag of sorts, your buy signal is when it breaks out that range, most likely upward. Credit to Trader Stewie for his PEG plays, he has a free X account you can follow.

JD - did not trigger the sell stops when China market dumped yesterday, cash flowing to the US, but recovered nicely today. Earnings next week, will hold through then. Stops set at 50% loss, dca around 1.6x. Decent time on these, if earnings tanks the stock I will take my losses and may yet get back in. Jan options though should give time, and if earnings are not awful, this has $50 target (stock)

UPST - flat, earnings today after market, calls expire tomorrow, so real lotto play here. I expect to exit most of my position on market open Friday, if good will hold runners, if awful will try to get out without total loss. DCA around 3.5x

DJT - total nothing burger, today. Had heard rumors that Elon had hinted at X buying out Truth social, think that added to the hype on the way to 50+ and now nearly half that. I will keep an eye on it only because I have like two runner positions left, less than 30 shares now. Possible Weikoff pattern forming on daily but needs a few weeks to confirm. The actual company financials in no way support the current stock price

 

[XtremeJ]

And because I am a degen lotto player

TSLA 300 Dec calls, get 'em at less than 4.20,

Too big to rig and these return spectacular gains, steal is real, and options protect your losses to 4.2 per contract max. You could probably set a 50% stop loss just in case

And if you were degenerate enough to follow this advice you owe me a steak dinner with a bottle of red wine, Thank you and thank me.

Currently trading around 17.xx, 400% baby.

to be transparent, I took profits on first tranche at 8.50 for the first 100%, then set a hard stop. When the first sell happened, I bought back in on the 3rd 5 minute candle but on the Nov 22 300 Calls, still holding 1/2 position on the Dec 300 calls

So currently holding
Nov 22 300 Calls - dca 5.7x, currently 12.9X, so a shade over 100%. Stops at 10.95 on half this position through a 2.xx trailing stop. This will become a hard stop once ask gets to 13.5x, and I will set it at 11.9x to ensure 100% profit incl. fees. I have a full size position in these options.

Dec 6th, $300 Calls - dca now 4.xx, due to taking profits on half the position. currently 17.xx. Hard stop at 16.00 on half remaining. $2 trailing on remainder, though evaluating this hourly.

IF, If TSLA breaks and stays over $300, especially with an early retest, this could be a moon stock before the end of the year. With no new financial info to confirm this, just Musk / Trump lovefest.

I should be charging for this life changing advice.

All credit to me if you raked in 3 or 4 or 5 figures yesterday. Risk is your problem, don't come crying to me when BTC goes back to $69K.

 

[XtremeJ]

TSLA - Nov Calls, stops triggered. I had tightened them once we hit 300, and the position was large, no way was I going to give up gains

Massive trade.

But .... no remaining position and what happens today? Should have left a runner (was lazy, trading from phone just set 1/2 and 1/2 position and done)

But ... Dec Calls, just shows the value of buying time, the $2 trailing did not hit after I set it yesterday, and expired. So very nice to wake up to this runner of a stock today. That 4.xx call now trading at 28.xx, so 700% return. Will likely close this today, maybe leave a single contract with a very wide stop. This contract traded at $1 two weeks ago .

Only regret, was never a full trading position, but my degen option plays never are.

I sure hope at least one person was stupid enough to follow me.

 

[XtremeJ]

AMZN - stops triggered, averaged out near 8.2x, two contracts remain as runners. Stops at 6.75 should give room for a test of 206.5x on the stock. Needs a breather after a couple really good days. Probably done, runners exp. Dec 6. Alert set for a move beyond yesterdays high. This was not a PEG per se, but may act like one. Watch the daily action for the next week, or until it breaks (up or down)

IONQ - continuation after yesterdays awesome day post earnings, no time for a flag, popped right over 25 on open. Sign of a strong stock attracting buyers (and likely algo's). My trailing stop expired yesterday, so no trigger this morning, hard stop on 1/2 now 6.95, and remainder back with a $2 trailing stop. Currently 9.0X, small position, stops triggering will leave a single runner still with the 5.5x stop. Killer trade thesis, too light on position to be too happy. Still happy. spread on options is huge because so lightly traded.

JD - red today, China news, stops not triggered but getting close. Jan exp. so time on my side. Some of the problem is strong US market drawing Chinese who are selling Shanghai and Singapore to get in here.


UPST - killer lotto trade. excellent patience, dca was 3.5x and sold today dca at 16.15. Perhaps a little tight on the trailing stop, but honestly I was slow moving up the hard stop on 1/2 a couple times to my benefit. 450+ % another massive trade to my bottom line today

I intend closing most all my day (doh) and swing trade positions today going into the weekend. After tightening all my stops in our investing and retirement accounts in case of the steal on Tuesday, I have now relaxed them back to more sane and decent technical levels - was a good exercise in cleaning up the account too, sold a bunch of partial shares that get accumulated usually during dividend harvesting (own the stock long enough to qualify for dividend, sell before dividend shows in account, sometimes as a partial share rather than cash)

Trump winning sure shows where the confidence of both traders and investors alike really is, especially seeing the massive inflows of foreign cash this week. Maybe they were wary of a socialist in disguise (a bad one at that) being somehow "elected"

This euphoria must end, we now need to at least take a breath and consolidate. November and December post elections historically pretty good for the investor. If you have funds you must contribute my EOY, start now, I think market continues to pick up into second week December. But what do I know?

So who is one of the new TSLA millionaires this week?

 

[GarScramb]

I sure hope at least one person was stupid enough to follow me.

Dude, I've been a stock market investor buying and selling individual stocks and ETFs for 32 years now. I generally do a little better than the S&P 500 (tbh the larger my portfolio gets the harder it is to beat the market). I can humbly say I am above average in intelligence.

All that said, I can say with no embarassment that I read all of your posts and I generally understand around 20% of what you are talking about.

I do cheer on your successes though.

 

[XtremeJ]

I generally do a little better than the S&P 500 (tbh the larger my portfolio gets the harder it is to beat the market).

I do cheer on your successes though.

People have no idea how much truth there is in your statement. Mo Money, Mo Problems. Also why I have to respect even bad fund managers. I cannot fathom the stress of managing other people's money (manage mine, and wife's, used to manage parents US accounts) but I know two ex fund managers and they tell me they honestly did not give a shit about the investors in their funds, nice to know.

They cared solely about the process. I try hard to emulate successful people like those, I fail miserably more often than not.

I have been posting more recently because I have not been focused on the market the past couple weeks because I have been surprisingly disciplined. Several lessons to be learned by my success for sure, but this week was a once in 12 or 16 years kind a deal too - and it could have gone seriously red too. Posting also keeps me accountable to me, when I am not deep in a daily trade journal.

Posts may become sparse if the market is interesting the next few weeks. I have one account still 6 figure red, though bleeding a lot less than it was on Monday. Bit of luck, and some positions mature as I theorized, I may yet be green on that account before Dec 31. You can be I have my tax harvesting losses lined up already.

Appreciate the kind words, 32 years you know this is hard. Hardest thing I have ever attempted, other professions I have at least felt capable and confident, and master of my domain , but trading, I can have an excellent week, and come Sunday I am already nervous as hell that I could lose it all on open Monday. Very, very challenging. Even if you have the skills, the mental aspect can kill you (literally I guess too)

 

[Rallye]

I don't usually dabble in options, but I'm a straight TSLA buyer below $200. It bled down to $213 on 10/23, and then up-up-and-away. So, I'm kicking myself at the moment for not going in, if that counts?

 

[CarterKraft]

Not really sure what to do on TSLA, I started with 4ish shares at $300 and bought down sub $200 for a total of 23.

I'm up good but what do I do? Just hold long or dump the shares I was too high and reinvest when it settles?

This is in my Roth IRA so gains tax not really a concern.

 

[CarterKraft]

Not really sure what to do on TSLA, I started with 4ish shares at $300 and bought down sub $200 for a total of 23.

I'm up good but what do I do? Just hold long or dump the shares I was too high and reinvest when it settles?

This is in my Roth IRA so gains tax not really a concern.

I've pumped and dumped 4? Times so far to get here, so I'm not scared to take profits. Holding past 30% does break my rule so I don't want to get fomo tricked...

 

[[memphis]]

I've pumped and dumped 4? Times so far to get here, so I'm not scared to take profits. Holding past 30% does break my rule so I don't want to get fomo tricked...

I don’t hold TSLA individually but if it’s good enough for the ETF’s I’m HODL’n…

If it makes you feel better I’m 50% up on ENB and 47% SNA and still holding

 

[CarterKraft]

I don’t hold TSLA individually but if it’s good enough for the ETF’s I’m HODL’n…

If it makes you feel better I’m 50% up on ENB and 47% SNA and still holding

I checked and I have 4 at $333 so I set a limit sell on those 4 (fifo) didn't make any money but this might keep me from loosing on them.

 

[CarterKraft]

TSLA.... Set a limit sell at $333 but thinking about it this morning I wanted to get out of those 4 shares so I dropped the limit to $322 and I got a notification my limit sell tripped at $346
So that pretty much confirms TSLA is gonna 2x now LOL.

 

[[memphis]]

TSLA.... Set a limit sell at $333 but thinking about it this morning I wanted to get out of those 4 shares so I dropped the limit to $322 and I got a notification my limit sell tripped at $346
So that pretty much confirms TSLA is gonna 2x now LOL.

Listening in on the WSB discord. Wonder if there is a TSLA put window to enter

 

[CarterKraft]

Listening in on the WSB discord. Wonder if there is a TSLA put window to enter

there is a bunch of news about shorts getting killed, same old story.

 

[XtremeJ]

Listening in on the WSB discord. Wonder if there is a TSLA put window to enter

So you like to live dangerously - tell us more.

I am sure there is a TSLA short out there. I admire any trader with the balls to stand in front of the freight train

 

[[memphis]]

So you like to live dangerously - tell us more.

I am sure there is a TSLA short out there. I admire any trader with the balls to stand in front of the freight train

I should not trade options but having watched Tesla for years, it trades in irrational ways without the fundamentals to back it up I could see it dropping to high 280s come February.

I am super conservative when I do options. No yolo plays

 

[CarterKraft]

I should not trade options but having watched Tesla for years, it trades in irrational ways without the fundamentals to back it up I could see it dropping to high 280s come February.

I am super conservative when I do options. No yolo plays

To your point When I do I take profits?
Ride it out for a $4xx?
Honestly I didn't see this Elon/TRump partnership and corresponding surge coming so I am likely going to fumble this ball...

 

[Roc Doc]

Lot's of profit taking today, methinks.

 

[gunracer1]

i jumped all in on CLF, i was down 12K at one point. i jumped in too early.

 

[CarterKraft]

To your point When I do I take profits?
Ride it out for a $4xx?
Honestly I didn't see this Elon/TRump partnership and corresponding surge coming so I am likely going to fumble this ball...

Sold 6 more still bad shares left over from the split. I don't mind holding the rest as they are in a more profitable cost basis.

 

[[memphis]]

XtremeJ

Is that you??

https://www.reddit.com/r/wallstreetbets/s/eOv6FWT0oh

Fawk me… what a win

 

[CarterKraft]

XtremeJ

Is that you??

https://www.reddit.com/r/wallstreetbets/s/eOv6FWT0oh

Fawk me… what a win

GD

 

[gunracer1]

Wanna real risky penny stock type trade?

QUBT - Quantum Computing. News last week with a link up with MSFT that was the news mover from the 55-65 range the stock has been in for months.

Entered on the news at 0.7x, and took profits (half a position) at 1.05 for just shy of a 50% gain. In absence of strong technical levels I will use 40% as a secondary profit level, and was just a little late pulling the trigger on the sell.

Then let it consolidate last week. This is a good strategy post news or post good earnings, let the initial buyers step in, let those holders sell and take profits, then wait for the second leg of buying or continued buying. Look at the daily chart on QUBT you could see it building a bull flag since late Monday and it has broken out of that pattern today. I added on the break over 1.15.

Too keep things simple I will ignore my early trade and current holdings from that trade at 0.7x cost

this trade, (using whole numbers on position size to keep math simple, please manage your OWN risk)

entry at 1.15 cost average. I bought 1000 shares, no commission, cash purchase, day trade account = $1150.00

Hard SELL stop set at 1.05 immediately. based off Friday's low. Should the price move lower, I will stop out at 1.05 x 1000 = $1050.00 Max loss $100 which is 8.5% risk.
Even if I just used 10% max loss or 1.00 stop I would lose $150 max provided my stops trigger. This may make better sense because as you can see from the daily chart this stock can move 10% in a day without news. So setting too tight a stop risks triggering the stop and then the stock reverses and you are left with your dick in your hand.

To be honest I got really lucky with this add today and how it played out. Broke 1.15 which triggered the buy, went to a shade over 1.27 within the first hour of trading and within almost 30 mins of the buy trigger. I was driving otherwise I would have taken some profits likely 1/4 position but by the time I was in the office it was sub 1.20, now stair step consolidation pattern rest of the day.

Raised my stop to 1:16 so I will be green on this trade regardless. Given price action today there are sellers over 1.25 through 1.27, so will be patient. Stock traded at 1.3x in May so that would be a reasonable target should this momentum continue.

Stock is priced too low for the funds, most won't touch any stocks below $5. But low float does equal higher risk.

I have an add for over 1.26x to add to this position, might be a bit risky to enter here. VWAP currently 1.20 on 5 min chart, so could use that as a hard stop.

Very risky stock, very risky. This is not a buy and forget, this is a buy and be prepared to actively manage at least once a day. Never leave yourself exposed without any sell orders on this stock. Take the loss if you have to, but don't lose everything. Manage your OWN risk.

As I post 1.235 and I just raised my stops to 1.195 (so if it hits will likely clear at 1.19. $40 green trade so far

I bought one share when you posted this, i was planning on chucking a grand at it. and see what happened. fuck me that shit is up 244%, guess i missed another.