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steross

Bookface/Instagran legend
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Today not looking much better... I'm down 8% again today.
Are you saying down 8% in a trading account or a retirement account?

If in a trading account, yikes.
If in a retirement account, you are young, this is just sale prices and you should be happy.
 

oks10

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Are you saying down 8% in a trading account or a retirement account?

If in a trading account, yikes.
If in a retirement account, you are young, this is just sale prices and you should be happy.
Trading but I only have $80 invested. lol. I'd gotten up to $215 as of Sunday night and as of this morning it's dropped to $165... It's just "play money" for me but still hurts to see. It'd been steadily going up the last few months then BAM it just drops 2 days in a row.

Add: My retirement dropped 30% in the drop with Covid ($105k down to $85K) but it's managed to catch back up to pre-covid value. I'm at a $5k gain for the year as of right now. It HAS dropped a tad but I'm not overly concerned. As you said, I've got plenty of time ahead of me for it to correct itself.
 
Oct 30, 2007
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The jobs report today was actually pretty good. We added 1.37 million jobs and unemployment dropped from 10.2% to 8.4%. Both figures beat expectations. Economic number like this would typically provide a small boost to the markets.

I've been too busy this week to pay close attention. Does anyone have any insight as to why we're seeing in the tech sector sell off? Is this just a correction to let some air out of the bubble, or are there some underlying factors that I'm missing?
 

steross

Bookface/Instagran legend
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Trading but I only have $80 invested. lol. I'd gotten up to $215 as of Sunday night and as of this morning it's dropped to $165... It's just "play money" for me but still hurts to see. It'd been steadily going up the last few months then BAM it just drops 2 days in a row.
Trading is very hard which is why I have essentially stopped as my work started taking more time.
I made a slip up due to work interrupting me a couple months ago. It was a very expensive repeat lesson. To do this right you have to take the time and care.

If it is a trading account, I highly recommend stops of some kind. Most use hard stops. Some use mental stops. But, as was mentioned, watching and hoping tends to lose in the trading game.
 

steross

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Cool example of support and resistance.
W shot up from 234 to 290 with low volume in late July (shown by the volume at price bars on the left). Now fell right back through those levels in two days as there is nothing there to support. Then hit dead on the 234 level this morning and bounced off that prior resistance that is now support.
Screen Shot 2020-09-04 at 10.19.33 AM.png
 

pokes16

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Oct 16, 2003
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WKHS, NKLA, rocking

TSLA tanking. At some point, people will realize that TSLA loses money on every car they sell. They only make money selling pollution credits and that biz is slowly going away.
 

Bowers2

Stackin' Joe's Cups
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WKHS, NKLA, rocking

TSLA tanking. At some point, people will realize that TSLA loses money on every car they sell. They only make money selling pollution credits and that biz is slowly going away.
Not sure where you got that. And Tesla does include pollution credits in their automotive sales revenue. But sales revenue was $20 billion in 2019 and only $600 million of that was credits.
 

oks10

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WKHS, NKLA, rocking

TSLA tanking. At some point, people will realize that TSLA loses money on every car they sell. They only make money selling pollution credits and that biz is slowly going away.
Yeah, glad I dropped that one (even if it was only $65... lol). I put $50 of it into Nvidia which isn't doing anything at the moment but I'm interested to see where it goes. I've got another $15 I'm trying to figure out what to do with.
 
Oct 7, 2008
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Not sure if anyone else saw but it was revealed that SoftBank was dumping massive amounts of $$ into US tech stocks last week. Everyone was blaming retail traders, but turns out it was one of the big boys driving up prices.
 
Oct 7, 2008
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I'm taking short term losses on some oil stocks as something's going to have to fuel the massive travel surge that's going to come post-Covid. Added to my position on Diamondback Energy (FANG) today. Good balance sheet, still has their dividend intact, Morningstar calls it deeply undervalued and gives them a fair market price of $87. Trading at $33 now.
 

pokes16

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Not sure if anyone else saw but it was revealed that SoftBank was dumping massive amounts of $$ into US tech stocks last week. Everyone was blaming retail traders, but turns out it was one of the big boys driving up prices.
https://twitter.com/sentimentrader/status/1303314568542932993?s=20
 

pokes16

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I'm taking short term losses on some oil stocks as something's going to have to fuel the massive travel surge that's going to come post-Covid. Added to my position on Diamondback Energy (FANG) today. Good balance sheet, still has their dividend intact, Morningstar calls it deeply undervalued and gives them a fair market price of $87. Trading at $33 now.
IMHO pure E&P plays are dying, and will start dying quickly. There is a reason NKLA and WKHS are screaming today... The standard gas engine vehicle is on the way out.
 
Oct 7, 2008
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IMHO pure E&P plays are dying, and will start dying quickly. There is a reason NKLA and WKHS are screaming today... The standard gas engine vehicle is on the way out.
Totally agree in the long-term. Not sure I agree it'll happen in the next few years which is why I'm buying. You could be right though because younger investors don't want anything to do with oil companies when they're clearly going the way of the past, so the herd mentality we're seeing in the market won't be as likely to happen here.
 

pokes16

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Totally agree in the long-term. Not sure I agree it'll happen in the next few years which is why I'm buying. You could be right though because younger investors don't want anything to do with oil companies when they're clearly going the way of the past, so the herd mentality we're seeing in the market won't be as likely to happen here.
5 years from now the Diesel Semi truck may ceased to be even built. In 3 years, NKLA will be producing 35,000 Hydrogen Electric Semis per year, not to mention 10s of thousands of their smaller all electic Semis. That does not count what TSLA will do and Daimler.
 
Nov 6, 2010
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IMHO pure E&P plays are dying, and will start dying quickly. There is a reason NKLA and WKHS are screaming today... The standard gas engine vehicle is on the way out.
Yea, I'm starting to think oil will never come back, but I think it has at least as much to do with the new work from anywhere environment as EV's. EV's are clearly the future, but it will take years to unwind from the current system. But work from home takes cars off the road today. Too bad I own a bunch of Exxon.