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Old 06-08-2021, 12:01 PM   #2276
TheJacob
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Re: 2021 Trading Thread

Bought a WKHS June 18 $20 call yesterday for $95.

Sold today for $150. Retiring from meme stock trading up $55.
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Old 06-09-2021, 09:13 AM   #2277
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Re: 2021 Trading Thread

The market doesn't seem broken at all. So what if these people band together and bid up Clover? People trading on things other than fundamentals is as old as markets.

Until there is real market contagion risk, I don't see what the problem is.
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Old 06-09-2021, 09:56 AM   #2278
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Re: 2021 Trading Thread

It is impressive how many different pump and dumps can be sustained for so long.
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Old 06-09-2021, 09:58 AM   #2279
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Re: 2021 Trading Thread

Thats what happens when you have extra trillions floating around
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Old 06-09-2021, 01:26 PM   #2280
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Re: 2021 Trading Thread

No one is banding together lol.

The people at the top presumably with bot networks and/or other forms of fraud are buying stocks and then pushing them on reddit.

They literally have a thread stickied every day with "Daily popular tickers" for their pump and dumps. This won't last much longer. Presumably someone will get arrested. They are pumping a new stock every day now.

Think about how insane it is for a "Community" to have mods posting a thread essentially with stocks to buy for that day. CLOV and CLNE were both on my radar from reading wallstreetbets the prior day, but didn't actually pump until the day they got put in the "daily popular tickers" sticky.

Who's in tomorrow? CLF? Or is the timeline being shortened and its getting the full pump up today?

Last edited by TheJacob; 06-09-2021 at 01:33 PM.
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Old 06-09-2021, 01:54 PM   #2281
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Re: 2021 Trading Thread

Another pump AHT near low of day
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Old 06-09-2021, 04:02 PM   #2282
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Re: 2021 Trading Thread

Fine, they aren’t banding together and the Redditors are victims. Still, don’t see how this threatens markets as long as regulators crack down on the con men.
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Old 06-09-2021, 05:36 PM   #2283
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Re: 2021 Trading Thread

Crude crosses 70, next stop 80-90-100?

Seems like corona concerns in Asia will hold it back for a little bit longer

XOM has had a nice move recently despite the climate activist investor takeover
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Old 06-09-2021, 06:01 PM   #2284
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Re: 2021 Trading Thread

Why wasn’t wish on their list though? I made a couple grand but not great for how much capital I was risking
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Old 06-09-2021, 06:07 PM   #2285
TheJacob
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Re: 2021 Trading Thread

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Originally Posted by snowie963 View Post
Why wasn’t wish on their list though? I made a couple grand but not great for how much capital I was risking
If you were making a list of stocks for people to buy what might determine which stocks go on that list?
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Old 06-09-2021, 10:27 PM   #2286
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Re: 2021 Trading Thread

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If you were making a list of stocks for people to buy what might determine which stocks go on that list?
I don't care anything about market caps or whether these companies are about to be bankrupt, wish was probably the most mentioned ticker yesterday and it wasn't on the list. Though CLNE got added to it but I didn't see a huge amount of talk. I flipped all of those stocks at one point, lost 5% off CLNE and made 15% off wish intraday, made 5% off clover.
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Old 06-09-2021, 11:15 PM   #2287
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Re: 2021 Trading Thread

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Originally Posted by snowie963 View Post
I don't care anything about market caps or whether these companies are about to be bankrupt, wish was probably the most mentioned ticker yesterday and it wasn't on the list. Though CLNE got added to it but I didn't see a huge amount of talk. I flipped all of those stocks at one point, lost 5% off CLNE and made 15% off wish intraday, made 5% off clover.
You made 5% on clover, a stock that was up like 135% that day?
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Old 06-10-2021, 12:31 AM   #2288
snowie963
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Re: 2021 Trading Thread

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You made 5% on clover, a stock that was up like 135% that day?
no, I made 135% because it was up 135%. I had them all for a small time over the last week.

Last edited by snowie963; 06-10-2021 at 12:48 AM.
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Old 06-10-2021, 08:56 AM   #2289
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Re: 2021 Trading Thread

I'm in MT (ArcelorMittal).
Good for increased inflation, the high steel prices are also a cause of inflation and MT is a company profiting of that.

This steel index (similar to almost all other steel indices I've seen) came down from a recent high of 6000 stabilizing at a "low" that is higher than the highest level of Q1 2021
https://tradingeconomics.com/commodity/steel

MT's Q1 is reported as their best quarter in a decade.

WSB discovered steel yesterday in the form of CLF which already shot up yesterday.

Last edited by OldBonesMcGee; 06-10-2021 at 09:01 AM.
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Old 06-10-2021, 08:59 AM   #2290
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Re: 2021 Trading Thread

Also MT is vertically integrated meaning they mine a large part of their own ore, so increased ore prices aren't cutting much into their ability to profit of overall rising steel prices.
(MT up 3% premarket today)
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Old 06-10-2021, 04:54 PM   #2291
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Re: 2021 Trading Thread

You'd be wise to model some capex for plasma torches, all the iron ore pelletization will have to make the switch sooner than later from fossil fuel burners.

I've been riding the CIA.TO wave for the last year it's turned into a huge cash cow and they'll be expanding the mine shortly.

Super bullish on iron ore, steel and of course PYR plasma torches. The run prolly ends when the infrastructure bill is signed.
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Old 06-10-2021, 10:52 PM   #2292
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Re: 2021 Trading Thread

To the people that actually trade here, how big of a deal is RSI? I've looked at it a lot lately when considering when to sell stocks, etc and it seems like its a great tool to use to sell when a stock is overbought etc. I know looking back on history doesn't = same thing will always happen but its when a stock hits an rsi of say 70-80, its almost always a top and then you can rebuy later cheaper when people profit take.

Just wondering if anyone has advice on how to use RSI etc? I mainly invest in stocks long term and currently have a position where i didn't sell at a high rsi even though doing so would have turned into a great opportunity to sell and rebuy back later much cheaper. I only invest in companies I think have solid long term prospects but just wondering if its smart to sell at high rsis and take a gain and rebuy back later or just dumb thinking etc.

I have a pretty damn high % of my net worth in one company right now that went up 5x after the March covid crash. It went up 5x and then was slashed in half valuewise. Don't want to go into specific company but I had to sell some stock at a discount from this high to acquire some cash for personal use. Just wondering if I should stick onto my shares or sell some if we ever get high RSIs again (like 80-90) and just try to rebuy later or do i just hold longterm. I'm getting close to a year hold time to not get hit with short term gains.
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Old 06-11-2021, 12:36 AM   #2293
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Re: 2021 Trading Thread

Quote:
Originally Posted by Jkpoker10 View Post
To the people that actually trade here, how big of a deal is RSI?
I like looking at the upper bollinger band on just a 20,2 BollingerB for profit taking signals. When they get too high over the upper bollie that is a decent profit taking spot if it has already had a long runup. On a daily chart a red or black candle is the kiss of death if it prints above upper bollinger band. See AHT or AMC's recent charts as an example. It's not fail proof of course but can be a signal. I prefer RSI for scanning for stocks worth entering vs. an exiting tool. RSI over 60 in that scan but I don't always use RSI to screen.
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Old 06-11-2021, 03:24 AM   #2294
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Re: 2021 Trading Thread

Quote:
Originally Posted by Jkpoker10 View Post
To the people that actually trade here, how big of a deal is RSI?
FWIW in my currency pair backtests it's producing a lot better signals when it is returning from overbought/oversold territories. For stocks it works until it doesn't, some big news and you'll see it in over 90 or sub 10 - it might diverge later. Would'nt rely on it long term it's rather useful when there is a lot of noise without fundamental changes (or for scanning as said above)
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Old 06-11-2021, 12:20 PM   #2295
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Re: 2021 Trading Thread

Anyone in here familiar with ABCL? This is some kind of biotech stock that went the way of most high flying recent tech IPOS, crazy debut followed by gigantic slide. Peter Thiel has a 5% stake and the Bill and Melina Gates Foundation is also among major holders. Lockup expired earlier this week, so that as a catalyst for downside/uncertainty is now passed. Looks to me like a very good r/r around this $25-27 level with a tight stop around the all-time low (23.20).
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Old 06-11-2021, 02:37 PM   #2296
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Re: 2021 Trading Thread

Longed FRO today 8.90. Bullish pennant breaking here. It hasnt had the huge runup yet as others in industry.
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Old Yesterday, 10:27 AM   #2297
OldBonesMcGee
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Re: 2021 Trading Thread

Quote:
Originally Posted by bursito View Post
You'd be wise to model some capex for plasma torches, all the iron ore pelletization will have to make the switch sooner than later from fossil fuel burners.

I've been riding the CIA.TO wave for the last year it's turned into a huge cash cow and they'll be expanding the mine shortly.

Super bullish on iron ore, steel and of course PYR plasma torches. The run prolly ends when the infrastructure bill is signed.
Thanks for the hint!
Though PYR's own estimation of 10B here would have me not very worried about that:
"The total world pellet production of 400 million metric tonnes of pellets represents a potential market for torch sales in excess of $10B worldwide."
source:
https://www.globenewswire.com/news-r...a-Torches.html

Since companies if anything tend to overstate not understate their addressable world market.
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Old Yesterday, 10:37 AM   #2298
OldBonesMcGee
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Re: 2021 Trading Thread

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Originally Posted by bursito View Post
The run prolly ends when the infrastructure bill is signed.
Possible I do think a supercycle is also actually possible.

"Two of the nation’s largest steelmakers are keeping older mills closed, passing up a chance to sell more metal at record prices, because of the high cost of restarting and the threats to their survival from rivals’ new plants.
The closures have exacerbated a shortage of steel..."
https://www.wsj.com/articles/steelma...es-11623322802

This isn't temporary btw, the following is from CLF

"That capacity is not coming back, and people need to stop talking about that capacity"

It seems steelmakers have learned from earlier cycles in this point.
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