Buying the low of march 23 2020

[marketcentral]

Did any trader here buy the low of march 23, 2020? and still not sold their long positions?

many traders thought the market would go even lower or stay lower trend lower rather than the massive v-shape price recovery. and so fast too. the selling was massive and real in march. investors and many funds and algos using market orders to exit their positions.

the market didn't fail. it worked. price dropped cause people were selling at any price. and stampeding out and buying cash and buying gold.
now it's normal market, trading like an illiquid market and fewer participation.

 

[Overnight]

If we say we did, do we get a cookie?

 

[marketcentral]

why lie?

 

[Specterx]

Did any trader here buy the low of march 23, 2020? and still not sold their long positions?

Not the exact low - but in my account for longer term plays I scaled in to the Qs on the way down and ended up 100% long around 182 average. Still holding that position and plan to do so until either the macro backdrop changes, or NDX goes into a parabolic blowoff.

 

[Overnight]

why lie?

You didn't answer the question.

Oh, I see, you edited your post after I responded to add all that other stuff after the first line in your post.

 

[maxinger]

No one would have predicted market would go up strongly from Mar 20.
In fact NQ has appreciated 65% since Mar 20.
during that time, Warren buffett talked about selling airline stocks and that scared lots of people.
lots of swing traders & investors missed the very big opportunity to long the stocks.


For day traders, you don't have to bother about all these because every day is a good trading day.

 

[S2007S]

This market is a market no one has ever witnessed before, but keep thinking its the norm because its far from anything we have ever seen.

 

[heavenskrow]

I bought UBER, CMG, NVDA all on March 18th low.
I also placed an order to buy physical silver on 3/18. Unfortunately I put in the wrong ACH information so order never went through.
I have statements for proof.

Only bad thing is I sold these stocks after 50%+ rally. Was not able to hold until now.

 

[BlueWaterSailor]

This market is a market no one has ever witnessed before, but keep thinking its the norm because its far from anything we have ever seen.

Or keep thinking "it's not the norm!" and sitting out all the amazing opportunities it presents.

I don't think "the norm" makes a useful metric right now.

 

[marketcentral]

What is normal
the old normal of the 70's and 80's and even 90's
the market has changed. the only constant is change.

there was no options market between 1935-1970 options was banned in the US market and gambling was only legal in las vegas.

as for daytrading for retail it didn't exist prior to 1990 due to high commissions. discount commission was only available in the 1990's and was the reason for the bull market of the 1990's as lots of new money came to the market like the new money from the fed. you see now..

new money that doesn't exist.. it is money that move market ultimately. more stocks less cash. stocks goes lower. you need new buyers or new money to buy stocks for price to go higher that new money is now from the gov't or fed. not from the retail investors or public investors or even public institutions if this was 'free market' the market would not be here.

people don't need to own stocks in the retail level. only pension funds may need to own the market but they they don't have much an effect on the 'market' as they are passive investors.

based on the amount of bankruptcy of equity and losses ,,there should be less money in buying stocks or less money in the market.

Or keep thinking "it's not the norm!" and sitting out all the amazing opportunities it presents.

I don't think "the norm" makes a useful metric right now.