All things STOCKS

#4,360
#4,360
I decided to try my hand at day trading and/or something in between that and the buy and hold strategy I'm using for my Roth IRA. I put around $50 in a TD Ameritrade account and around $90 in a Robinhood account to get me started. I thought I would like RH better, but TDA definitely has better automated trading tools. The big draw to RH for me was partial shares in companies with high share prices, but you can only do market orders for them, which means time spent hovering over the buy/sell button to get the desired price. RH also doesn't have conditional orders (at all), which is invaluable for limiting risk while day trading. On TDA, I can set a limit order that triggers an OCA (one cancels another) order to sell if the price rises enough to sell or falls enough for me to decide I was wrong about the price direction. I'm using the 1 percent rule (sell if the position loses 1 percent of my account balance, sell if it gains 2% of my account balance), and the automated trading makes it easy to set up and check on later.

I think I'm going to use TDA for my true day trading and more speculative medium-term trading, and use RH for medium-term trading on companies that I'm sure will make me money if I hold long enough. RH just doesn't have the tools to deal with anything that needs to be babysat.
 
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#4,361
#4,361
In my Roth IRA, Abbvie is the king. I bought it at $67.80 over a year ago for the dividend. It sank to just below that level at the worst of the COVID-19 lockdowns, but it was back up within a week or so, and back to $90+ in no time. I wish I would've had money sitting to buy more when it dipped.

Unfortunately, I also got into Kohl's before they dropped their dividend, which is freaking annoying. Not only do you not get the dividend, but the price drops when other investors hear that there's no dividend, so it's a double-whammy. Bagholding on that one until I can get out.
 
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#4,364
#4,364
With some left over buying power ive got im taking a risk for this week. JetBlue is at 10.95. I can get in a cheap buy call at 11. Im going to do it and hope it runs with the others tomorrow
 
#4,369
#4,369
headhunter15 said:
Saw the Dow was up today. How’s everyone’s general feelings on the market and economy of America?
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I've only been trading for a short time, so take my opinion with a grain of salt. I think the stock market is being helped by the government pumping trillions into it, but with seeing record lows it doesn't surprise me to see record gains when bouncing back. I also think there are some companies ( Netflix, Draftkings) who were in the right spot at the right time and will take a step back once we get back open. I also think the government can't keep pumping the amounts they have been into the market and if we aren't almost 100% within 6 months we could see a crash worse than what happened in March
 
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#4,370
#4,370
VolAllen said:
I feel like the tech side is bloated. I just don’t understand some of these valuations..
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Has to be the covid bump. Everyone stuck at home using tech and ordering everything online. I too feel they are inflated.

And how is Netflix going to produce new material when production has been halted? Was/is there enough in the editing stage to fill the future months pipeline?
 
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#4,371
#4,371
VolAllen said:
I feel like the tech side is bloated. I just don’t understand some of these valuations..
Click to expand...

I loved Docusign and Zoom but I took profits. The valuations were nuts. Pruned a little bit of SQ as well but I can at least wrap my head around that valuation slightly.

And don't get me started on Tesla.
 
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#4,372
#4,372
BigOrangeMojo said:
I loved Docusign and Zoom but I took profits. The valuations were nuts. Pruned a little bit of SQ as well but I can at least wrap my head around that valuation slightly.

And don't get me started on Tesla.
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Tesla is way too high. I see 100 Fords to 1 Tesla. They’re not Ford.

One I can’t decide on is Chewy. I’m torn. Moving forward, is it a $20 stock or is it a $100 stock?

I feel like there’s a lot more retail dollars in this market than people think. Sure, some of it may be stimulus money. But I personally know a lot of people that started trading when they went into quarantine and they couldn’t open their restaurants or other businesses. The government is definitely propping it up, but there’s nothing “propped up” about Spirit at $17. It was consistently $45-55 for years. And the same can be said for MGM, CCL, MFA, etc...
 
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#4,373
#4,373
Oil stocks are still wacked. But oil is still cheap. Some can double quickly if the economy ever gets back on the tracks.

Stocks will be crushed if Biden wins in 4 months. IMO healthcare and oil would be damaged. Financials might hold up as interest rates could rise. I don't know if I heard somebody speculating or if it's part of Joe B's economic plan, but they were suggesting that long term capital gains should be taxed as ordinary income. That would destroy equity values.
 
#4,374
#4,374
Thunder Good-Oil said:
Oil stocks are still wacked. But oil is still cheap. Some can double quickly if the economy ever gets back on the tracks.

Stocks will be crushed if Biden wins in 4 months. IMO healthcare and oil would be damaged. Financials might hold up as interest rates could rise. I don't know if I heard somebody speculating or if it's part of Joe B's economic plan, but they were suggesting that long term capital gains should be taxed as ordinary income. That would destroy equity values.
Click to expand...

On the flip side, if long term capital gains are taxed the same as short term, it may turn into a day traders paradise. Imagine the volatility.... 🤤
 
#4,375
#4,375
If Biden is elected I don't know if there will be a lot of winners. Solar stocks, weed stocks, China, Tesla might benefit, but TSLA is already on the move. Maybe some media names and Twitter will be okay. I can think of many more names that would be under pressure in a potential hostile environment rather than opportunities. Bitcoin and BYND could do well. Alcohol names could be safe. AMZN might be a good place to hide.

If Biden wins but the Senate stays R then some grid lock could be good for stocks.
 
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