Going out on a limb a bit here but I think we have put in a short term bottom. Could very well be a bear market bounce. Resistance on the SPY is around $450ish.
Originally Posted by petegz28:
Going out on a limb a bit here but I think we have put in a short term bottom. Could very well be a bear market bounce. Resistance on the SPY is around $450ish.
Downtrend is fully intact mind you.
I think we’re pretty close too, within 5% of a bottom.
The bounce we get might only be short term and no where near getting back to all time highs. NASDAQ would need to gain 21% for that. [Reply]
I'm under water on five trades I made selling puts. I ended up buying the stock on all five trades. Put out some call options on two of them today and I have another call that expires this month, and I don't see it getting to the strike price. My Nasdaq stocks have taken a hit as well as one would figure. The biggest part of my investments which are dividend generators are hanging in there but then my 401K has taken a pretty good hit as well. Oh the pain! [Reply]
Question: How long would it take to make 201 trades that avg a 3.5% return ?
There's tons of stocks that are volatile enough for a 3.5% return during the coarse of a week if not a day.
For example TSLA just today opened at $897 .If you set a buy order at a 1% discount you could have picked it up at $888 and then set yourself up a standing sell order with a 3.5% swing at $919 and accomplished your goal.
As of right now the TSLA high /Low today is $881-$932 Thats actually a 5.7% swing today.
So my thinking is if you can make 201 trades and AVERAGE 3.5% assuming some will be less and some will be more , it will turn $1000 in to $1,000,000.
This sounds too easy. What am I missing other than stocks don't always go up. LOL
