2020 Day Trading thread

[ejv]

Interesting. I didn't realize you had a regular job. That's cool you can get it all done in an hour or two before work.

Looking at your list I only have one of those in my IRA. I bought BCRX with the money from my special dividend from NLOK back in January. It has been all over since I have owned it. Hoping they are well positioned for C19 research/production. Since the C19 pandemic they have been up and down several times.

 

[DesiDucati]

That WORX stock last week I got in early but was greedy... I ended up bagholding overnight. Boy was that a big mistake! Never baghold those pennystocks is the painful lesson I learned. Never get greeedy too. I’m interested in knowing how did you play WORX? When was the signal to get out while you were in the money zone?

 

[Entoptic]

That WORX stock last week I got in early but was greedy... I ended up bagholding overnight. Boy was that a big mistake! Never baghold those pennystocks is the painful lesson I learned. Never get greeedy too. I’m interested in knowing how did you play WORX? When was the signal to get out while you were in the money zone?

WORX is a goodie and I’m sorry to hear you got left with some bags. It happens to us all and there are ways to ensure that’s doesn’t happen often.

This stock in particular is what I call a former runner. Meaning that it has appeared on my gap scanner in the past and has had good movement. That classification let’s me know this stock has potential and with that has even more potential to the downside.

I’m only looking to capture .20 move which mitigates my time holding the stock. If the stock is moving at a rapid pace upward I’ll sell half my position to book profit on the trade, give myself a cushion to get out if it goes red, reduce my risk to the market and I’ll adjust my mental stop loss to what is now break even. This one move guarantees I’m profitable on the trade and allows me to let the rest ride so to say. Still always monitoring the stock regardless and never letting my eyes off the L2/time and sales. Remember this stock is a former runner which means it could reserve direction at any moment.

If you plan to trade stocks like these I suggest a simulator to understand the momentum because you will loss money. It’s pretty much guaranteed that the stock will go down and you need to have a “bail out button”. It’s basically a market sell but instead sells everything as a limit sale with a .05 range from the current price. Doesn’t guarantee you’re out of the trade but it’s almost 100%. This one button will save you a lot of money. I hit it often when I’m wrong about a trade. It’s key to use it. You can have multiple bail outs and one good winner to be profitable on the day.

When I’m home I’ll post a more in-depth chart with entries and exits.

Pics may be small. Just figured out how to publish on Tradingview.com

Hopefully you can see that.
https://www.tradingview.com/chart/WORX/S1rzRoeQ-For-my-friend-on-BARF/

 

[Yakoo752]

Interesting stuff
Thanks!

 

[Entoptic]

Futures opened to a pretty big dump but time will tell. I always catch a glimpse of futures at 3pm PST on Sunday for a sneak peek of what may be in store for us this week.

I figured it was gonna dump on that unnatural growth last hour Friday and I believe this week may be red because of bad news related to retail and outcomes from earnings. We’re starting to see a decoupling of virus related news dropping the market and now the real drop may start soon. I’m still very bearish on the market as this rebound is unnatural.

 

[rodr]

Dunno, I'm a bit more optimistic that we may have seen the bottom. Seems like earnings drops attributable to the pandemic would already be anticipated. Big question is how long will this shit keep going on.

 

[scootergmc]

I'm not optimistic when it comes to big blues like Boeing who led the thursday/friday surge and have yet to see the fruits of their contract cancellations, which are rolling in right about now... of course, that's for the other thread.

Now where's my three bar play for tomorrow am?

 

[Entoptic]

Today has blood bath potential. I’ll be shorting the SPY today if this continues.

Here are warnings for the week. Protect yourselves!

 

[Entoptic]

Dunno, I'm a bit more optimistic that we may have seen the bottom. Seems like earnings drops attributable to the pandemic would already be anticipated. Big question is how long will this shit keep going on.

My fear is that we are now seeing a separation from virus related news and now focusing on the true news imo, economic damage. This fear makes me believe we are heading for another big drop similar to the Great Depression. I hope this isn’t the case but I fear it as well.

 

[DesiDucati]

Saw the good news this morning about RiteAid doing cobid19 testing in its stores and bought in before it’s surge this morning. Got out early before the close just now. It’s a very emotional roller coaster.

 

[byke]

My fear is that we are now seeing a separation from virus related news and now focusing on the true news imo, economic damage. This fear makes me believe we are heading for another big drop similar to the Great Depression. I hope this isn’t the case but I fear it as well.

As far as the investors that move the markets are concerned, virus damage = economic damage. This is what I've been talking about, how unless you're on the floor, you don't know what investors have already accounted for. We know, or should know, that they knew what the score was when the flurry of news cycles were speculating the economic damage. They know all the data that's going to come out over however many months is going to be bad and they corrected accordingly at that time. And like I said, it's just like speculated earnings being leaked early, that's when the bulk of the correction happens and then maybe a little more if it turns out to be a little worse, or they blow right by if it's not. At this point, we're probably not going to see any bombs come out of nowhere that will take the dow down to 18k again.

 

[NorCalAthlete]

I'm just starting to play with options and such, haven't quite delved into pattern day trading yet (though have gotten a few through with open bell buys + immediate limit sells locked in).

I'll say this though - my calls on AOBC, RGR, and VSTO are printing nicely so far. :teeth AOBC in particular.

 

[UDRider]

I'm just starting to play with options and such, haven't quite delved into pattern day trading yet (though have gotten a few through with open bell buys + immediate limit sells locked in).

I'll say this though - my calls on AOBC, RGR, and VSTO are printing nicely so far. :teeth AOBC in particular.

There is a separate day trading thread. FYI

 

[DannoXYZ]

I wonder what rationale is for getting in and out in same day? Particularly why IRS has that requirement?

 

[FXCLM5]

wtf oil negative, $-37

wow

 

[DesiDucati]

Yeah, I saw the negative news about oil and went in biggly on SCO today. Holy cow! Did anyone else win big on SCO this morning?

 

[Entoptic]

Saw the good news this morning about RiteAid doing cobid19 testing in its stores and bought in before it’s surge this morning. Got out early before the close just now. It’s a very emotional roller coaster.

Nice move. Risky, but nice!

As far as the investors that move the markets are concerned, virus damage = economic damage. This is what I've been talking about, how unless you're on the floor, you don't know what investors have already accounted for. We know, or should know, that they knew what the score was when the flurry of news cycles were speculating the economic damage. They know all the data that's going to come out over however many months is going to be bad and they corrected accordingly at that time. And like I said, it's just like speculated earnings being leaked early, that's when the bulk of the correction happens and then maybe a little more if it turns out to be a little worse, or they blow right by if it's not. At this point, we're probably not going to see any bombs come out of nowhere that will take the dow down to 18k again.

I disagree. We are in unprecedented times and I believe, not to be mentioned in the other thread, that we are about to drop off a cliff again like we've not seen before. All we've been focused on is virus related issues and haven't even begun to understand the larger 10 year impact. 220 imo will look like a ceiling fan and I hope this isn't the case but I fear we are starting it now.

I'm just starting to play with options and such, haven't quite delved into pattern day trading yet (though have gotten a few through with open bell buys + immediate limit sells locked in).

I'll say this though - my calls on AOBC, RGR, and VSTO are printing nicely so far. :teeth AOBC in particular.

Hell yes man. I have open puts on NFLX, DAL and a call on SPXS.

There is a separate day trading thread. FYI

I'm not to worried about it. That other thread is for investors and we are traders.

I wonder what rationale is for getting in and out in same day? Particularly why IRS has that requirement?

Can you elaborate on this and I can attempt to explain it.

wtf oil negative, $-37

wow

Not oil but futures. The price of oil futures fell below the price anyone was willing to let their contracts go for and that is why it dipped. Oil is ok, we have a crap ton of it. Which leads me to the next post.

Yeah, I saw the negative news about oil and went in biggly on SCO today. Holy cow! Did anyone else win big on SCO this morning?

I played TRMD. They hold oil for companies and transport it. Since there is a surplus and no one has any place to store it companies like this can charge whatever they want. This chart is confusing but it's because of the halts.

NNVC was another good one. Been on the list since early Jan.

 

[byke]

I disagree. We are in unprecedented times and I believe, not to be mentioned in the other thread, that we are about to drop off a cliff again like we've not seen before. 220 imo will look like a ceiling fan and I hope this isn't the case but I fear we are starting it now.

Can you qualify your reasoning for the cliff a bit?

 

[Abacinator]

 

[DesiDucati]

What’s the discord channel again? I’d like to listen in and get tips of what stocks to watch. Thanks!

Currently I’m looking at PREIT. Can I get your assessment if they are safe to buy now? I’m trying to catch the falling knife as traders call it.