Quite a drop past couple of days, but simply fasten your seatbelt! We will hit new highs eventually.
Yes, we have dropped lately but relatively speaking…All is Well!
DOW is at 30K , BTC is pushing 28K, what could go wrong?
Well, we will have inevitable ups and downs! but it’s looking quite pretty right now.
I am now back to the highs of where my stock accounts were in February. Trading of course has helped, but over all it is because the market has recovered so well, at least for the long term stocks that I hold anyway.
I think this is a little scary though that we have such recovery so fast when the economy hasn’t even reopened yet. There are some predictions for a second drop, second bottom once people realize that things may not get going as quickly as we’d hope.
We’ve definitely had some downs (and ups!) but some tech stocks, such as AMZN and NFLX, are at their all time highs! This makes sense in that AMZN is a mail order business and should thrive during this stay at home period, as should NFLX.
Just Stay on Target! and hold those long terms, and be careful if you are trading! Good luck.
Going ballistic! Been holding this since the 180s…will continue to hold.
When I do a trade, I set my sell price immediately after the buy is filled. Typically my trades are targeted at making $1000.
This morning, during this hullaboo over the coronavirus I bought 1000 TSLA @ 545. I have a lot of long term TSLA held for years since the 180s, but this was for just a trade of additional shares. I set the sell at 547 to make $2000. this time, I figured I’d make a decent profit this time instead of selling too quickly.
TSLA didn’t really even hit 546 before falling back, to around 543. Eventually, I bought another 1000 at 542 (it dropped as low as 541 and change after my fill). Now my cost basis became 2000 shares at 542 + 545 / 2 = 543.5 I set my sell at 2000 shares @ 544.5 and this eventually filled, barely, giving me my target $2000. profit, and TSLA fell back after that and all seemed well as in, I sold at the right price given the weakened market.
But of course now TSLA is pushing 548. My original target of 547 was correct. It would have filled.
In general, every time I enter a trade and end up cost averaging, my original targeted sell price eventually comes back around. My instincts are solid. What does one do with that information? Cost average in but maintain the same original target price? or just stick to the original targeted plan of making just _____ (whatever the original targeted profit) and be happy with that, however achieved.
Grump takes credit for the stock market’s rise, but in fact, it has risen despite him, and often drops because of him, as he presses for his ridiculous tariffs.
Post Grump the stock market will do just fine, as it always has, over time.
Now Grump has declared tariffs on Mexico. This is sending the market below DOW -25K. Now clear, if it wasn’t before, that stock market has been rising DESPITE Grump, not because of him, and now it is dropping directly because of him.
We will be okay – market will roar back to life after the weak hands are filtered out.
Predictably, President Grump is messing with the well being of the stock market with his trade wars with China. Tariffs are anathema to stocks like AMZN and TSLA, and they have suffered mightly lately. Fortunately, this is but a temporary situation and the stocks will roar again soon enough.