Community effort to make bank after the coming "big smashola"?

Scataphagos · Aug 30, 2022

SimpleMeLike said:
Hello Scataphagos,

Yes, we have to wait until the stock drop below 52 week low and get in. This is what I do for stock buying only.

As Warren said so clearly, Buy good companies at good prices.

Good Prices = below 52 week low
Good Companies = everyone should already know what are good companies.

Dump all the money in and sell once prices gets to 52 week high. This is how we get rich.

In a bear market, "52-wk low" doesn't mean much on the way down... until the final one.

easymon1 · Aug 30, 2022

Ironplates said:
sounds good. in the meantime what action can you take to benefit from declining prices while you wait?

What timeframe charts do you like to trade? Here's one way to work it...
https://www.elitetrader.com/et/thre...t-right-here-baby.343012/page-25#post-5666891

Scataphagos · Aug 30, 2022

SimpleMeLike said:
We have to know when to buy the stock, only when the world near coming to an end like in March 2020,

That was a correct buy because of the Fed's intervention... not a "bear market" in any sense of the word.

stochastix · Aug 30, 2022

misterkel said:
I'd advise against shorting outright. In inflationary environments, the inflation puts upward pressure on stocks even while the crash puts downward pressure. This leads to unpredictable results and naked shorting is quite dangerous for that.
I'm terrible at bear markets, so I don't know what I would advise, but shorting per se less so. Maybe calls on ultra-short index etf's?
I've had poor luck with VXX and UVXY, (used as hedges mainly, but no real benefit during the decline). I've done my research, too. Short term - a nimble trader can short and play the downside. But I like my trades a bit slower than that, personally.

I've traded this market just like the bull , short dated volatility call spreads . Hate the vix note based instruments , they are subject to weird shit and I don't trade them

SimpleMeLike · Aug 30, 2022

Scataphagos said:
That was a correct buy because of the Fed's intervention... not a "bear market" in any sense of the word.

Hello Scataphagos,

Yes I understand

SimpleMeLike · Aug 30, 2022

Scataphagos said:
In a bear market, "52-wk low" doesn't mean much on the way down... until the final one.

Hello Scataphagos,

Buying a good company stock at 52 week low is the best I can do. I have to save all the brain power for the mighty strong NQ. She is jealous and wants all my attention everyday. Right @mikeriley ?

I will only be buying Apply at 52 week low whenever that happens. Why Apple? Because Warren Buffet likes and invested alot Apple. Warren Buffet is rich, I am not, so I must do exactly what the rich man does to be rich like him one day. That is the best I can do. I have to save all the brain power for the mighty strong NQ. She is jealous and wants all my attention everyday. Right @mikeriley ?

Scataphagos · Aug 30, 2022

SimpleMeLike said:
Why Apple? Because Warren Buffet likes and invested alot Apple. Warren Buffet is rich, I am not, so I must do exactly what the rich man does to be rich like him one day.

Be sure to keep us apprised on how that's going. Don't discount that Buffet is OK if his stocks drop 50%. Most traders are not that sanguine.

MacBookProHo · Aug 30, 2022

Scataphagos said:
In a bear market, "52-wk low" doesn't mean much on the way down... until the final one.

The problem with 'buying the dip' or 52 week low....is you don't, truly, know where the bottom will be,

Imagine buying everything in the Fall of 2008.....but it keeps on dipping, and dipping, and dipping still until March 2009,
It's not easy to stomach ugly, temporary, storms,
Trading/investing is all about being Right, right now -- no dead, neutral, wasted time,

SimpleMeLike, are you rich yet day trading NQ futures,...from 5K to 500K to five million,...from a paper account to real money, now,

mikeriley · Aug 30, 2022

Hello Scataphagos,

Buying a good company stock at 52 week low is the best I can do. I have to save all the brain power for the mighty strong NQ. She is jealous and wants all my attention everyday. Right @mikeriley ?

I will only be buying Apply at 52 week low whenever that happens. Why Apple? Because Warren Buffet likes and invested alot Apple. Warren Buffet is rich, I am not, so I must do exactly what the rich man does to be rich like him one day. That is the best I can do. I have to save all the brain power for the mighty strong NQ. She is jealous and wants all my attention everyday. Right @mikeriley ?

Appears to be a good plan. Just look out for those algo's,
I suspect the programmers use historical behavioral dynamics.
It sure seems like they can read my mind sometimes.

Scataphagos · Aug 30, 2022

MacBookProHo said:
The problem with 'buying the dip' or 52 week low....is you don't, truly, know where the bottom will be,

Imagine buying everything in the Fall of 2008.....but it keeps on dipping, and dipping, and dipping still until March 2009,
It's not easy to stomach ugly, temporary, storms,
Trading/investing is all about being Right, right now -- no dead, neutral, wasted time,

SimpleMeLike, are you rich yet day trading NQ futures,...from 5K to 500K to five million,...from a paper account to real money, now,

Well, that's the problem. EVERY dip on the way down is the WRONG one to buy until the LAST one... wherever that is.