The Market 2021

[dscher]

Do you also do horoscopes? It sounds like the same skill set.

Strangely. Pattern recognition/cycles is the basis for both. That's why the golden ratio can be used in both the zodiac and TA.

 

[BigRedRage]

decided to start learning about options trading, dipped my toes into two small ones to try it out. Pretty cool and fun. One of them valued at $22 today a 500 stock would have cost me 11k to buy stocks for it but instead gambled about $150 in a call option that can sink or swim. I think I like this a lot more for my non long term stock trading. I hate putting $11,000 into the market unless its a stock I am hyper bullish on for the long term.

 

[BigRedRage]

Strangely. Pattern recognition/cycles is the basis for both. That's why the golden ratio can be used in both the zodiac and TA.

I think TSLA will easily be at $720 by mid april. What do you think? I'm learning how to draw on charts to study but I'm really dumb still.

This is what I drew up a few weeks ago on charts when the stock was over 800. The overbuy line has moved and we are now in the safe zone

edit: My chart and lines are not showing support for 720 for mid april, more like 650/700. looks like 720 would be in the overbuy range still and above my support line.

(full disclosure, a friend did a call option for 4/19 to be at 720. I am just trying to analyze, for fun and learning, whether I think that is a good bet or not. per this chart, I say no. It is possible but the resistance WILL still be lower per my findings.

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[dscher]

I think TSLA will easily be at $720 by mid april. What do you think? I'm learning how to draw on charts to study but I'm really dumb still.

This is what I drew up a few weeks ago on charts when the stock was over 800. The overbuy line has moved and we are now in the safe zone

edit: My chart and lines are not showing support for 720 for mid april, more like 650/700. looks like 720 would be in the overbuy range still and above my support line.

(full disclosure, a friend did a call option for 4/19 to be at 720. I am just trying to analyze, for fun and learning, whether I think that is a good bet or not. per this chart, I say no. It is possible but the resistance WILL still be lower per my findings.

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Snapshot this one from my phone for ya on a weekly chart since I believe you are a long term holder. Considering this is a weekly chart, it is more powerful than just the dailies or hourly ones, so it gives more clarity for longer term pictures. So, imo, seeing this triangle pattern is a bearish sign for a stock. Typically you will have a break down(which we have already seen) and then the next move will be either that major support at 450ish area near the 50 week ma. (Blue line). Or, we have another run or semi run at that upper trend line before heading back down again. Keep at it with trend line drawing..some of my earliest hangups were with settling for momentum indicators and what not. While useful they are only indicators..the true power of TA lies on the ability for pattern recognition and good simple trend line drawing. Simple for dumb people like myself as well..

 

[BigRedRage]

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Snapshot this one from my phone for ya on a weekly chart since I believe you are a long term holder. Considering this is a weekly chart, it is more powerful than just the dailies or hourly ones, so it gives more clarity for longer term pictures. So, imo, seeing this triangle pattern is a bearish sign for a stock. Typically you will have a break down(which we have already seen) and then the next move will be either that major support at 450ish area near the 50 week ma. (Blue line). Or, we have another run or semi run at that upper trend line before heading back down again. Keep at it with trend line drawing..some of my earliest hangups were with settling for momentum indicators and what not. While useful they are only indicators..the true power of TA lies on the ability for pattern recognition and good simple trend line drawing. Simple for dumb people like myself as well..

I suck at reading your chart. still too dumb. working on it.

 

[dscher]

I suck at reading your chart. still too dumb. working on it.

No worries. Just, for now, know that you have pretty solid support around 450.

 

[BigRedRage]

No worries. Just, for now, know that you have pretty solid support around 450.

Dscher, slipping a knife into my spine when he gets a chance

 

[AZCrazy]

Don't worry about TSLA. They will be a huge player in world commerce for generations.

 

[dscher]

Dscher, slipping a knife into my spine when he gets a chance

Haha. No knife in spine. Just a heads if it gets to that point for a long term holder.

 

[Folster]

Fun facts. Ford has outperformed Tesla over the last 6 months.

F posted 2020 revenue $127B while TSLA posted 2020 revenue of $31B.

F has a Price to Sales (P/S) ratio of .37 while TSLA is 24.67.

 

[dscher]

GME still looks primed for lift off.. the consolidation gave it time to build energy for that next move to 400! We shall see.. cool stock to chart and witness the hype behind it.

 

[BigRedRage]

GME still looks primed for lift off.. the consolidation gave it time to build energy for that next move to 400! We shall see.. cool stock to chart and witness the hype behind it.

Their recent hirings have been fantastic, taking advantage of this opportunity and rebuilding the business.

 

[BigRedRage]

starting to think BA is totally recovered and will just be a slow possible growth stock depending on war. Airlines picking up will help them but based on 5 year charts, it may not bring the stock significantly higher. Over the 5 years, it boomed from 2016-2020 but that could be a presidential administration thing and a focus on building military during that time frame.Considering selling on the next spike and moving on, this was a BTD stock for me when covid hit the market

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[dscher]

starting to think BA is totally recovered and will just be a slow possible growth stock depending on war. Airlines picking up will help them but based on 5 year charts, it may not bring the stock significantly higher. Over the 5 years, it boomed from 2016-2020 but that could be a presidential administration thing and a focus on building military during that time frame.Considering selling on the next spike and moving on, this was a BTD stock for me when covid hit the market

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This is what I'm seeing with BA. We are at an inflection point. We clear that 235 on a weekly basis where I put a horizontal line and prior highs(resistance) than it should be ready to rock up to that red line (200 ma). But if we don't, uh oh. Sorry, always bearer of potential doom with me, I know.

 

[BigRedRage]

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This is what I'm seeing with BA. We are at an inflection point. We clear that 235 on a weekly basis where I put a horizontal line and prior highs(resistance) than it should be ready to rock up to that red line (200 ma). But if we don't, uh oh. Sorry, always bearer of potential doom with me, I know.

300 was my original thought when covid hit. I didnt know anything about what I was doing and was just buying stocks and comparing where they were in january and saying I wanted to sell at around that point. Your TA saying 280ish is pretty interesting to me in retrospect. Another 20% would make sense.

 

[dscher]

300 was my original thought when covid hit. I didnt know anything about what I was doing and was just buying stocks and comparing where they were in january and saying I wanted to sell at around that point. Your TA saying 280ish is pretty interesting to me in retrospect. Another 20% would make sense.

Yes, clear that 235 area and hold and it should be ready to move. The market as a whole is a dangerous place right now... It's literally holding onto everything based on what one man says today... strange bizarre stuff at the moment.

 

[dscher]

One man speaks. One man flips markets. This isn't smooth market functioning. When the market doesn't get it's drug fix guarantee of more money printing/QE and throws a temper tantrum... houston we have a problem!

 

[BigRedRage]

I had a 640 limit buy for TSLA last week or early this week and decided 695 was good enough and cancelled it/bought. oops! Sitting at 607 right now!

What a nightmare for the market today

 

[BigRedRage]

GME just went from 10% down to 17% up in minutes

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[BigRedRage]

its really odd how identical AMC and GME patterns can be

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[Folster]

I had a 640 limit buy for TSLA last week or early this week and decided 695 was good enough and cancelled it/bought. oops! Sitting at 607 right now!

What a nightmare for the market today

Both US growth and value indices are down about equally today, a little over 1.5%. Energy is the only sector up and utilities are flat.

 

[dscher]

GME just went from 10% down to 17% up in minutes

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Patterns bro. The patterns never lie.

 

[BigRedRage]

Patterns bro. The patterns never lie.

Which pattern we talking about?

 

[BigRedRage]

I think TSLA will easily be at $720 by mid april. What do you think? I'm learning how to draw on charts to study but I'm really dumb still.

This is what I drew up a few weeks ago on charts when the stock was over 800. The overbuy line has moved and we are now in the safe zone

edit: My chart and lines are not showing support for 720 for mid april, more like 650/700. looks like 720 would be in the overbuy range still and above my support line.

(full disclosure, a friend did a call option for 4/19 to be at 720. I am just trying to analyze, for fun and learning, whether I think that is a good bet or not. per this chart, I say no. It is possible but the resistance WILL still be lower per my findings.

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textbook

 

[dscher]

Which pattern we talking about?

Just the TA patterns that form consolidations before big moves.. gme has been winding tight and holding support/moving averages since last Friday.