The Market 2021

[dscher]

That chart is too short term

Oh I know. But it does a good job of depicting his SNL appearance and it's short term demise.

 

[dscher]

we'll see what the future holds

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Good trend lines.

 

[BigRedRage]

Oh I know. But it does a good job of depicting his SNL appearance and it's short term demise.

You just wanted to poke the "sean didnt sell the news" wound again

 

[dscher]

You just wanted to poke the "sean didnt sell the news" wound again

Nah. We all gotta do what we gotta do. This is how we learn. I'm glad I learned about my fomo early on.. then again, I still have my moments. It's a tough one.

 

[dscher]

we'll see what the future holds

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Speaking to what I'm seeing on doge. We have a 50 day ma (blue line)that looks like it could be a good area for any support. Along with a lower trend line channel line(also blue) that could act as secondary support.

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[dscher]

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For anyone interested in macro. He's a good follow imo.

 

[BigRedRage]

Speaking to what I'm seeing on doge. We have a 50 day ma (blue line)that looks like it could be a good area for any support. Along with a lower trend line channel line(also blue) that could act as secondary support.

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I dumped doge profits only into doge at about .55 so ultimately, I'll either make a bunch more money or ill go back to where I was a month ago. Either way isnt a bad situation

Thanks for the chart. I like charts.

 

[dscher]

I dumped doge profits only into doge at about .55 so ultimately, I'll either make a bunch more money or ill go back to where I was a month ago. Either way isnt a bad situation

Thanks for the chart. I like charts.

My chart kinda transferred over looking a little sloppy instead of the nice pivot points I had drawn. But yeah... The trend channel looks pretty strong there. So it doesn't mean we need to get all the way back down into the .20 cent range, but ways to maybe position back in if your gonna be interested in the future. Same with Bitcoin. There are huge support levels at very low prices from here and I would maybe look at a small stake if reached.

 

[BigRedRage]

My chart kinda transferred over looking a little sloppy instead of the nice pivot points I had drawn. But yeah... The trend channel looks pretty strong there. So it doesn't mean we need to get all the way back down into the .20 cent range, but ways to maybe position back in if your gonna be interested in the future. Same with Bitcoin. There are huge support levels at very low prices from here and I would maybe look at a small stake if reached.

I sold all my btc seconds after that musk tweet about Tesla and bitcoin. Not playing this part of the game.

 

[dscher]

I sold all my btc seconds after that musk tweet about Tesla and bitcoin. Not playing this part of the game.

It's in a very weak technical position (momentum wise) on the weekly charts nonetheless. The 'timing' of that announcement is very odd and interesting. We shall see.. Bitcoin has been strongly correlated with the S&P over the past few months or so. So these next few weeks will be very telling in the direction of both imo

 

[Devilmaycare]

I blame Elon.

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I really blame Elon. Guess when he tweeted about TSLA dropping BTC.

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[Dback Jon]

I sold all my btc seconds after that musk tweet about Tesla and bitcoin. Not playing this part of the game.

Good move - it's dropping

 

[dscher]

I really blame Elon. Guess when he tweeted about TSLA dropping BTC.

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Yeah...I've found strange phenomenons of coincidence or synchrony/what have you of these moves when the charts seem to be a pivotal moment. Then they break and they blame the news event. I tend to lean the other way. It's probably somewhere in the middle though.

 

[Devilmaycare]

Yeah...I've found strange phenomenons of coincidence or synchrony/what have you of these moves when the charts seem to be a pivotal moment. Then they break and they blame the news event. I tend to lean the other way. It's probably somewhere in the middle though.

I really don't think this one was synchronicity though. It was a direct market reaction to news about BTC. What his news might have done though is gotten people that were on the fence on crypt to dump.

 

[dscher]

I really don't think this one was synchronicity though. It was a direct market reaction to news about BTC. What his news might have done though is gotten people that were on the fence on crypt to dump.

I was speaking more to the technical setup of these securities when the do make the move on the news. It's definitely a weird phenomenon to me when I witness it in the charts that I study.

 

[Folster]

@dscher

Your Northman Trader got a shout out on CNBC today.

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[dscher]

@dscher

Your Northman Trader got a shout out on CNBC today.

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Haha. He's made a handful of appearances on CNBC over the years. He's not good for ratings nowadays so he doesn't get invited back very often. His YouTube channel had some good interviews for multiple weeks last year with the two guys from fast money. Guy and Dan. So, I think he's a decently respected source for his knowledge in technicals.

 

[Russ Smith]

They need to revamp all the jobs stuff. Trump made so many changes to how it was calculated during Covid to make things sound better we're not getting real data now. A few days ago the job created number was WAY low causing a market downturn, the prior week it had been WAY high triggering an up day. Now today the newly jobless claim is so low it's a post pandemic record for fewest people newly filing for unemployment,. So the markets are up. Is it really possible that in about 10 days you have big good surprise big bad surprise and then record low unemployment filings? they can't all be correct can they?

 

[BigRedRage]

I'm being very unproductive while watching this 17% gain on AMC to see what happens. I have shares and calls ready to burn

 

[elindholm]

I'm being very unproductive while watching this 17% gain on AMC to see what happens. I have shares and calls ready to burn

AMC is probably the most legitimate of the meme stocks.

 

[elindholm]

I'm being very unproductive while watching this 17% gain on AMC to see what happens. I have shares and calls ready to burn

With all of your short-term trading, don't you get killed by capital gains tax?

 

[BigRedRage]

AMC is probably the most legitimate of the meme stocks.

I'm thankful for yahoo finance and its alerts feature. Allowed me to get to work and just wait to her some bling blings from my phone. I'd like to get around that 14 number it hit last month before unloading. It has done that a few times and then dropped back to 8 or 9, happy to jump back in if it does it again.

Gamestonk became pretty legit now that they have revamped the entire c level structure to high level chewy and amazon people. The brand itself is very very powerful if they make the right moves, which it seems they will, its not in bad shape either.

 

[BigRedRage]

With all of your short-term trading, don't you get killed by capital gains tax?

id rather make money and pay taxes than not make money and pay no taxes, that's how I see it. (tax info I had here was wrong, corrected in follow up)

I dont have all the rules to a T but gains > no gains regardless of tax is my mindset.

 

[BigRedRage]

ah, I had it backward. short term gains = taxed like income. over 12 month gains, taxed at 0,15,20. so ill pay somewhere around 20% on my short terms vs 0-20% but still. With Doge, you sold or didnt make money. With gamestop you sold or didnt make money, etc. I have plenty very long term holdings too but those are netting a very small percentage of gains vs the short term ones lately.

but yeah....20% of my gains isnt a huge deal. For every 10k I still keep 8.

 

[Finito]

AMC is probably the most legitimate of the meme stocks.

the numbers are just ludicrous on AMC. I’m gonna diamond hand this baby as far it can go.

1001 shares

but seriously it’s gotten so out of hand it’s amazing. What do you mean you can just make up fake shares and sell them for real money huh how...how sway!! You don’t got the answers!!