OFFICIAL STOCK MARKET AND ECONOMY THREAD VOL. A NEW CHAPTER

johnnyredstorm said:
100%. This is the thing to hammer in your head. If you sit there today and look at your book and hope your stocks will rebound, you own the wrong ones. I know every single stock I kept will rebound eventually. The ones that might not, or might have trouble, I sold out of.

DKNG listed as a stock to watch but not a top pick yet for CML. LMKif y’all wanna “hear” about it.
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Please do ive been a fan of DKNG so much money to be made on gambling and with so many states still not legalized. with so many states suffering post Covid theres no way states will not take the tax advantage of legalizing sportsbook/weed soon
 
jrod54life said:
Please do ive been a fan of DKNG so much money to be made on gambling and with so many states still not legalized. with so many states suffering post Covid theres no way states will not take the tax advantage of legalizing sportsbook/weed soon
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I’ll send it when I get back to a computer since it’s stupid long but the main flag is governance. One guy owns all the voting rights
 
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Really hard flush tomorrow please. Little mad nvda kept tanking. Wish I didn’t add today at 533 and 524. Bleh.

if you didn’t manage any risk today, you need to sit back and reflect on your process. It’s not a big deal, but distribution days like this are the best learning days.
 
johnnyredstorm said:
I wouldn’t be selling any Tier 1 stocks you own (stocks you feel like you can buy and hold and never look at). I’d trim tier 2 stocks and consider selling/taking profits/raising stops on my weakest tier 3 holds. No one knows what will happen in October. Flexibility is nice but don’t empty your portfolio because of some idiot on the internet.
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That was me starting in panic mode, but after taking some time to think about it I've made my decision. lol

I had a plan for which stocks to sell. So sticking with that plan to play safe and to make sure I have enough and not need to sell more than I need for downpayment,

The plan was to unload some AAPL, but to hold the rest. Will likely sell rest of PINS, ROKU, FSLY over the next week (was in the plan). Figured I could get back into those eventually later. With the history of Oct and the election, I think there are too many variables. If I didn't need this money in two months, I would definitely just be holding.

Sorry all, this is me just thinking out loud at the same time.
 
So here’s the thing, if you need that money for a house, that’s the move. If you’re selling because you think we might go lower and you’re afraid of giving gains away, you gotta know your plan. I own those stocks and have zero intentions of selling them out. FSLY I only trimmed because I saw a trade under way that I could navigate. Just make sure you keep perspective. If my stocks get cut in 50% that sucks, but at the same time, I’m holding those three for 5 years out I can actually be excited about the idea of adding lower. Trim your weakest positions, not the ones with the best fundamentals because you’re afraid (unless you need to take off risk for a down payment, etc). Just keep perspective and be comfortable with what you have. If you’re worried about losing money, you probably have too much size so size down. If I get cut in half, my positions won’t bankrupt me or kill my book, I’ll just be annoyed short term.just keep perspective. Red October is not a guarantee just a possibility. Time in the market > timing the market for 95% of people.

really good thread about why were in a bull market for the next few years
 
tupac003 said:
I'm not even stressing this.

Wouldn't be surprised if we have another sell off tomorrow, take the long weekend and start to see some gains next Tuesday.
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I’m actually pretty hype about this correction. This be a great opportunity moving forward and very healthy for the long term bull market. If I can add more shares of great companies 20% lower, that’s fantastic. Only difference will be the need to generate cash flow via puts vs long stock for a change. I need to step my game up on that one.

I’ll post tomorrow some of my wish prices for the stocks I like or want to own.
 
johnnyredstorm said:
I’m actually pretty hype about this correction. This be a great opportunity moving forward and very healthy for the long term bull market. If I can add more shares of great companies 20% lower, that’s fantastic. Only difference will be the need to generate cash flow via puts vs long stock for a change. I need to step my game up on that one.

I’ll post tomorrow some of my wish prices for the stocks I like or want to own.
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What are some resources or things you use to figure out what’s a good price for you? Super new to buying stocks and that’s my biggest problem right now. I got “lucky”’because I purchased around March 20th when prices were a steal.

just started reading this book.
88F2E595-57DB-4EB0-BF72-28A2D7EE2DE5.jpeg
 
johnnyredstorm said:
So here’s the thing, if you need that money for a house, that’s the move. If you’re selling because you think we might go lower and you’re afraid of giving gains away, you gotta know your plan. I own those stocks and have zero intentions of selling them out. FSLY I only trimmed because I saw a trade under way that I could navigate. Just make sure you keep perspective. If my stocks get cut in 50% that sucks, but at the same time, I’m holding those three for 5 years out I can actually be excited about the idea of adding lower. Trim your weakest positions, not the ones with the best fundamentals because you’re afraid (unless you need to take off risk for a down payment, etc). Just keep perspective and be comfortable with what you have. If you’re worried about losing money, you probably have too much size so size down. If I get cut in half, my positions won’t bankrupt me or kill my book, I’ll just be annoyed short term.just keep perspective. Red October is not a guarantee just a possibility. Time in the market > timing the market for 95% of people.

really good thread about why were in a bull market for the next few years
Click to expand...


This is going to lead to a lot of pain in the future. The thought that there is no alternative when there actually is will lead to this massive bubble bursting. There is real estate for one, gold, cryptocurrency. Plenty of other opportunities besides overvalued stocks .
 
If i get some of my school reimbursement money Friday I might add 2 more shares of Tesla

i hope this isnt a major pull back that will continue for a while.
 
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