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Bird4um said:
I follow this kid.. Pretty smart... All you technicals.... any opinions on this video? Tech starts at 3:30

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As far as TA goes, he's young and obvious learning, bro. You can find better people to learn from if interested. If you like watching him, that's great, but be careful.

Calling a reversal only looking at one time frame isn't a great look. He needs to pull up the 2D, 3D, and 1W. Honestly, I wasn't even sure he was calling for a reversal. All he really said was if there wasn't support at the .382, then price would drop. That's equivalent to saying when the sun goes down it will get dark. But there is nothing to indicate that there wouldn't be support at the .236 let alone the .382. And maybe his use of fibs should be less absolute and used more for confirmation of S/R

With TA, it's 100% to each their own. Nice setup tbh. EMAs, MACd, RSI. Great combo. He just needs to learn how to use the tools. Those EMA settings are way off for a long read. Maybe he had it set for scalping or he forgot a '0'. Looks like his purple EMA is set to 20 . Should be 200. And then he would get a completely different read. He should set another to 55. The 55 crossing the 200 is the Cross of Death. That would be his reversal signal.

IMO, that diagonal is not a trendline, but to each their own. Not how I use RSI, but that's aggressive to call a reversal just because it broke 50.

I guess some people would take a signal to short on that MAC-d cross on January 26th but you should literally get out on that .236 fib.

Good luck, bro!
 
Bird4um said:
I follow this kid.. Pretty smart... All you technicals.... any opinions on this video? Tech starts at 3:30

Click to expand...


Everything @MISTER OWL said. You HAVE to evaluate multiple time frames or you lose perspective. I'm a big fan of the ichimoku cloud layered on the other indicators he was using. All that being said I abandoned doing T/A on index's last year. The indexes weightings are all of out wack with the rise in tech and too many recent catalyst that cause massive rotations. I stick to T/A on individual stocks or Sector ETF's. Index investors are really becoming the "old school". The pickers and ETF managers are driving these indexes.

The biggest problem i see with T/A guys is they rely too much on it and don't properly weigh fundamentals, news cycles, earnings cycles, currency trends, or competing interest.
 
@Bird4um @wspcane The current WSB scuttlebutt for SLV is the GME bagholders appear to losing confidence in GME and are attacking everyone who distracts from the GME play. Most original SLV threads have been deleted and they're saying it was coordinated media/wall street attack to push silver.

This has been hilarious to watch unfold. I was long silver before WSB and think the next reversal in the DXY will push us to my next technical target of 36$ regardless of what WSB does. And let's not forget, physical nearly sold out in just a weekend of retail interest. They physical you can find is selling for 20% or better premium. This is before projected increases in commercial use for EV's, renewables, etc.
 
Cryptical Envelopment said:
I sold some of my calls today at $10.40 for 150% profit. Still have some though. As @SweetAndSour mentioned above my GME puts were down lol.
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I had some EXPR puts i bought friday and they were down also (stock down 17 percent) . Any idea what could account for that? I'm stumped, generally when you buy a put and the underlying stock falls 20 percent its a good day, but not today! Maybe just too much interest in the puts?
 
CFLCane said:
@Bird4um @wspcane The current WSB scuttlebutt for SLV is the GME bagholders appear to losing confidence in GME and are attacking everyone who distracts from the GME play. Most original SLV threads have been deleted and they're saying it was coordinated media/wall street attack to push silver.

This has been hilarious to watch unfold. I was long silver before WSB and think the next reversal in the DXY will push us to my next technical target of 36$ regardless of what WSB does. And let's not forget, physical nearly sold out in just a weekend of retail interest. They physical you can find is selling for 20% or better premium. This is before projected increases in commercial use for EV's, renewables, etc.
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I have heard that. They have been SUPER paranoid about that happening. It’s also one thing to take on a hedge fund or two. Is another thing to take on JP Morgan.

This market has me a little VERY uneasy. However, I cost myself a decent amount last year in August-September by not being in the market with similar feelings. So I’m closing my eyes, going time in the market over timing the market, and will adjust as things happen. But it feels tenuous right now.
 
SweetAndSour said:
I had some EXPR puts i bought friday and they were down also (stock down 17 percent) . Any idea what could account for that? I'm stumped, generally when you buy a put and the underlying stock falls 20 percent its a good day, but not today! Maybe just too much interest in the puts?
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My friend, we are living in crazy town right now. I get my puts not going down when these things spike. I most certainly do not understand them failing to go up when things are collapsing.

My best guess is that the sharps/market believe its inevitable these meme stocks collapse big and the puts are just not that volatile because it it. In other words, no one is getting excited when the stocks come down because OF COURSE these overvalued ****box stocks are going to crash. And they are not plummeting when the common skyrockets because because OF COURSE these overvalued ****box stocks are going to crash.

It all seems baked in. My 2 cents which is probably worth about 1/4 of that.
 
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I am out of all my bullish meme options. Did well on a few, actually took some losses (nothing drastic) on a couple too. I still feel absolutely disgusted that I played any of this crap, even though I made some money.

Only thing I have left is the first trade I made in this "space," my GME $55 put. Up 45% today, and up 13% overall. Hoping it goes to:

less than zero et GIF



Meanwhile, today in adulting:

AGEN +7.1%
CFMS +14%
BRPHF +11.85%
LPTX +4.41%
TPL +2.87%
TRITW +16.67%
VFF +11.84%

Won't even get into the calls lol.

pulp fiction dancing GIF


And to answer your next question....

Tequila.
 
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