Stocks - The Best Buys 2

[manwiches]

Holy crap SPY took a dump today after that news conference this morning.

Blood on the street, but perfect opportunities to dip buy on almost everything.

Anybody catch the VTIQ/NKLA train? Took a solid flyer when it was low teens, and it's utterly killing it for me now.

[DoubleK]

Originally Posted by manwiches

Holy crap SPY took a dump today after that news conference this morning.

I started following a couple Twitter accounts that trade this hard a couple months ago. They made a killing shorting it this morning.

Does anyone do anything like this? I'd assume you'd need level 2 streaming data to do this and be stapled to your computer.

[manwiches]

Originally Posted by DoubleK

I started following a couple Twitter accounts that trade this hard a couple months ago. They made a killing shorting it this morning.

Does anyone do anything like this? I'd assume you'd need level 2 streaming data to do this and be stapled to your computer.

I'm not comfortable enough to short stocks. I understand the principle, but the risk/reward ratio seems too much for me. I'm lucky it's a Bull Market in the sectors I play in now (Biotech, Retail, Tech), but when it hits to a bear market, I'll have to readjust, or hope my paper trading strategies give me enough confidence to short.

I actually am in a couple different chat groups, that have good consensus and helpful alerts/DD. Hit me up on PM if you're interested.

[OMG!WTF!]

Originally Posted by manwiches

I'm not comfortable enough to short stocks. I understand the principle, but the risk/reward ratio seems too much for me. I'm lucky it's a Bull Market in the sectors I play in now (Biotech, Retail, Tech), but when it hits to a bear market, I'll have to readjust, or hope my paper trading strategies give me enough confidence to short.

I actually am in a couple different chat groups, that have good consensus and helpful alerts/DD. Hit me up on PM if you're interested.

There are lots of inverse etf's you can just straight up buy if you want to access a falling market. The UVXY was a perfect set up yesterday. SPXS is a common s&p short index you can buy just like a stock. Some are weighted too so you get a bit more of an alpha move if you want it. Some of them are not good for long term holds though.

[burn_this_city]

You just need to know that inverse ETFs like SPXS decay and you lose $0.05 a day, so if you hold for a month or two it starts to eat into your gains fairly significantly.

[OMG!WTF!]

Originally Posted by burn_this_city

You just need to know that inverse ETFs like SPXS decay and you lose $0.05 a day, so if you hold for a month or two it starts to eat into your gains fairly significantly.

It's much worse than that for the vix derivatives. They can really get you when they rebalance.

[bluejays]

There's no new news really, and while I don't believe the market truly understands the vastness of this pandemic, I bought a bank today to look to swing about an 8% gain in the next few weeks. Again, I don't believe in the market in the next few months, but I believe in the very near term businesses reopening should help the markets a little bit. I think the recovery will be slow though.

[manwiches]

I've been swinging and day trading low float microcaps, due to the ROI I'm able to get, over parking it in an RSP or mutual fund, or large cap stocks. Biotech is the trend lately, and any tech or medical that helps with getting us back to real life sooner (thermal scanners have been the play of the week).

There is a ton of money to be made, but also a ton of money to be lost if you're not careful or catch FOMO. Have to keep tight stops and learn to cut your losses quickly.

Sent from my SM-N975W using Tapatalk

[CroFlames]

Is there a Bitcoin ETF out there or something along those lines?

I've tried and tried and can't wrap my head around bitcoin investing, but if an ETF can expose me to it, I might be willing to gamble some dough.

[OMG!WTF!]

Originally Posted by croflames

is there a bitcoin etf out there or something along those lines?

I've tried and tried and can't wrap my head around bitcoin investing, but if an etf can expose me to it, i might be willing to gamble some dough.

gbtc

[burn_this_city]

USO may not collapse now that the June contract is positive compared to when they rolled them forward from May. The end of the month should be interesting, although I don't know if we see another price collapse this month now that most retail is out of the crude futures game.

[manwiches]

Originally Posted by burn_this_city

USO may not collapse now that the June contract is positive compared to when they rolled them forward from May. The end of the month should be interesting, although I don't know if we see another price collapse this month now that most retail is out of the crude futures game.

I have no faith in USO at the moment... When it spiked last week, I tried to trade a couple US oil companies, thinking there would be a small trend for the week. Left bag holding on one and stopped out on another. My fault though. Lol thankfully they weren't large positions.

I don't think I understand the idiosyncracies. Still learning.

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[OMG!WTF!]

This is kind of funny but would be so awful if it happened to you...Interactive Brokers had a glitch in their platform that wouldn't display negative contract prices. So some guy in Toronto bought a bunch of oil contracts at .01 but the price was really like -$37. So the guy ended up owing about 9 million dollars at the end of the day.



https://ca.news.yahoo.com/oil-trader...210000529.html


Thanks USO.

[Slava]

Originally Posted by OMG!WTF!

This is kind of funny but would be so awful if it happened to you...Interactive Brokers had a glitch in their platform that wouldn't display negative contract prices. So some guy in Toronto bought a bunch of oil contracts at .01 but the price was really like -$37. So the guy ended up owing about 9 million dollars at the end of the day.



https://ca.news.yahoo.com/oil-trader...210000529.html


Thanks USO.

That’s hilarious. I feel bad for the guy, but then again everyone was talking about the fact that oil could go negative. He obviously didn’t realize that would cost him $9m if it went that way, otherwise he wouldn’t have made that trade. I think he’s lucky that IB had these issues and made these guys whole here.

[Johnny199r]

Thoughts on buying the Canadian banks right now?

Prices are low, dividends seem to be steady.
I realize diversification for a portfolio is the key.
I also recognize our economy is going to be in the toilet for the next few quuarters and that could negatively impact the banks.

Still, tempting.

[PaperBagger'14]

Aurora up 40% today if anyone is lucky enough to still be holding on to some.

[IliketoPuck]

Originally Posted by Johnny199r

Thoughts on buying the Canadian banks right now?

Prices are low, dividends seem to be steady.
I realize diversification for a portfolio is the key.
I also recognize our economy is going to be in the toilet for the next few quuarters and that could negatively impact the banks.

Still, tempting.

Depends on your time horizon.

They are a good long term investment.

Short term the current volatility makes any purchase speculative.

[Flacker]

Originally Posted by PaperBagger'14

Aurora up 40% today if anyone is lucky enough to still be holding on to some.

I don't think being a long-term holder of Aurora is what I would call lucky. They did a 1-12 reverse split on Monday, and this 40% increase brings it back to prices from last week.

I'm sure lots of speculators bought yesterday morning, and are pretty happy today, however.

[FurnaceFace]

Originally Posted by PaperBagger'14

Aurora up 40% today if anyone is lucky enough to still be holding on to some.

Funny how good news for a quarter can cause this.
Note they did just do a stock consolidation and started the week at $12 something to then drop down to somewhere in the $8.50 range before rebounding so the 40-45% jump is a little misleading. Still good to see for those who are holding and need the price to keep moving north.

Edit: Flacker beat me to it

[manwiches]

Originally Posted by OMG!WTF!

This is kind of funny but would be so awful if it happened to you...Interactive Brokers had a glitch in their platform that wouldn't display negative contract prices. So some guy in Toronto bought a bunch of oil contracts at .01 but the price was really like -$37. So the guy ended up owing about 9 million dollars at the end of the day.



https://ca.news.yahoo.com/oil-trader...210000529.html


Thanks USO.

Holy crap. That is truly horrifying. At least he's being made whole. lol. I've heard nightmares about Interactive Brokers and Robinhood. I wished I was a US citizen, then I could trade with Webull.