I’m selling off everything except for GME and ZOM. I need to reassess my strategies. I have lost too much money.
It will be a rough ride. There's a time to sit on the sides and just let the market do its thing. I've put more in the last 2 weeks than normal. I'm waiting for my positions to play out, while hopping on some risky-ish stocks.
My problem is needing to figure out my own process. I trusted some convincing DD that ended up being a bunch of pump and dumps. So I’m out a few hundred bucks. Not the end of the world.
The meme stocks are getting to be a victim of their own past successes. Alot of scammers, its hard to sort through the information. I'd probably find industries you think will grow and invest in them. Like donkiez is doing with "reopening stocks". Find positions that seemed undervalued and pounce on them, if you have some risk tolerance. I'm personally looking at green energy again, I've been out (thankfully) as it crashed and I've done well early on. Alot of them have been getting absolutely hammered. Biden's green energy agenda may be in the cards, but he's moving slow as fuck on anything and they are distracted with a bunch of other bullshit. It'll have to be a reaction to the Stimmy + any FED action + whatever "recovery" funds start coming out. Its kind of dark right now, but I can weather the storm since I'm not in over my head on anything.
And don't worry, everyone is taking it on the chin right now. https://finance.yahoo.com/news/cathie-wood-arkk-sinks-20-203935202.html
Sold all of LVS. Long term their sale is probably good news but there is too much uncertainty in this sale and it hurts their immediate revenue potential. It just makes things to uncertain for me. That actually gives me some good buying money now. I'm thinking more Disney and Abnb but I am getting heavy there. I am actually thinking tech might be ripe to get back into now. Tempted to add to some of my positions that are deep red like apple
I just increased my position in Disney, Apple and Airbnb. Saving some buying cash, eyeing more boeing or ford. Tesla and square are really tempting right now though.
I'm still chugging along with my $100 or so in puts a week. Right now in on AMC puts. They have been paying pretty well lately. Might buy it out before close tonight. Starting to feel risky. Amc has earnings next week and it will be a shit show methinks.
El Pres is offering some sage advice. Time is an asset, you need to be able to let things play out for days, weeks, months or even years. I never trust online DDs, by the time they make it to the front page they are already played out. Instead I make sure everything I buy fits into my narrative of why the sector and that company in particular are good bets. Im not always right but I have a pretty good track record and even when I am wrong, I can usually wait it out and make money because I am picking good companies that I believe in. The other strategy i use is to buy my average down on my stocks. I play around with up to 10 stocks and during normal times something is always up and something is always down, which makes movements easier to figure out. During sell off times I am circling the wagons around my top 4 or 5, buy some every dip all the way down no matter how painful it is. Buy red, ride or sell green.
I was wondering how your strategy has been going for you. Did you get put on the stock at 10 earlier? I saw news that their board gave themselves big bonuses recently, kind of made me sour on them and their prospects some. Im still holding but I have been shedding some everytime it jumps.
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