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I have a few cannabis stocks and it got hit hard today. Again I think cannabis wasnt like how it was a couple years ago, and I believe it will trend upwards but lucky I didnt have tilray. 50% wiped out just like that!
Yeah what happened with TLRY? I was looking at it yesterday and after hours it was going up. Then this morning it started way down and just kept going.
I've been looking around lately and I see some stocks shooting up after hours and then when I look the next day they start way below where they closed the day before and continue downwards.
Yeah what happened with TLRY? I was looking at it yesterday and after hours it was going up. Then this morning it started way down and just kept going.
I've been looking around lately and I see some stocks shooting up after hours and then when I look the next day they start way below where they closed the day before and continue downwards.
Whats the reason for this normally?
MOMO on short squeeze reddit crowd, then went stupid, now falling back to reality. I think
Yeah what happened with TLRY? I was looking at it yesterday and after hours it was going up. Then this morning it started way down and just kept going.
I've been looking around lately and I see some stocks shooting up after hours and then when I look the next day they start way below where they closed the day before and continue downwards.
Whats the reason for this normally?
both reddit and apparently one of the states is showing resistance to legalizing cannabis which is a big factor for the run up due to possible legalization of cannabis in the states. also, new york will have a vote in the upcoming month which will also be a huge drive of cannabis if successful. I bought most of my cannabis stocks 4-5 months ago so the sell-off yesterday didnt matter. it just basically corrected itself but it will run back up eventually.
Quote:
Originally Posted by Jonydakiller
Last day to make a deal is this weekend hence the run up today
I'm holding mine, duel or die coming Tuesday bishhhhhhhhhhhhh
heavily invested and bought at $15, so if merger falls through i have my stop losses set to $25. kind of risky to set auto stop loss in a volatile spac such as cciv but since it's up to $40 i doubt it will drop to $25 unless the merger failed.
Its so funny, all these phrases that have developed over the years of trading..
“Don’t catch a falling knife”!
“Buy the dip”
These terms only work in hindsight, when a dip actually happens who the hell knows if it’s actually a dip that will recover or a knife in disguise?
buying the dip only works on a very well up trending pattern, and the risk you take is potentially catching a knife.
it's all about risk reward possibilities and managing your risk.
to be honest buying the dip is the simp's way. You should always buy new highs and add on and average UP. and take profits INTO STRENGTH, don't wait till it turns around.
buy what's going UP, not down. and vice versa.
waiting for new breakout, new highs, yes you get in at a worse price, but your risk is way lower.
buying dips is the shopping mall mentality, trying to get something "on sale", discounted. It's a losers mentality. Securities are not items to be consumed. You buy them to make money, you want the best risk to reward ratio. You should be adding MORE every single new consolidation break out, or dip and break up new highs.
Quote:
Originally Posted by winson604
Definitely lots to learn and while I haven't gone as deep as you yet I'll get there one day. For sure I made some rookie mistakes such as but not limited to
- Chasing or FOMO
NO FOMO & ATP (or ABC) are the two most single important fundamental psychological hurdles to conquer.
Never fear missing out, there's opportunities everywhere, everyday. If you miss it, you miss it, the next train is just a few min away. If you get out "too early", you still made a profit, it's done. Catch the next train.
ATP/ABC (always take profits/always be closing)... never let a winner turn into a loser. always close into strength. No one ever lost taking profits.
trading is a marathon. little homeruns here and there are great, but you don't depend or count on them. They're bonuses that happen.
be consistent with the two rules above and anyone can make money. Know exactly what you're doing before you get in. There shouldn't be any figuring out shit after you're in. Everything should be thought out already. If not, one day a cog will slip somewhere, and you'll get fucked.
buying the dip only works on a very well up trending pattern, and the risk you take is potentially catching a knife.
it's all about risk reward possibilities and managing your risk.
to be honest buying the dip is the simp's way. You should always buy new highs and add on and average UP. and take profits INTO STRENGTH, don't wait till it turns around.
buy what's going UP, not down. and vice versa.
waiting for new breakout, new highs, yes you get in at a worse price, but your risk is way lower.
buying dips is the shopping mall mentality, trying to get something "on sale", discounted. It's a losers mentality. Securities are not items to be consumed. You buy them to make money, you want the best risk to reward ratio. You should be adding MORE every single new consolidation break out, or dip and break up new highs.
I have to disagree with you here, but not entirely. I suppose it takes some more research but the alternative can be said when you buy high, it can easily fall back down. On average, you will have less risk when you buy dips as opposed to you wanting to buy high. However, this is why one looks at RSI and 20-50day MA (moving average). If you decide to buy a stock that is trending upwards and moving positively away from lets say at 50MA, then yes I agree you can buy the stock even if it's trending upwards instead of buying a dip. But you're in dangerous territory if you buy a stock that's trending upward and hitting 60-80 RSI because you might think it will keep going up but in most cases it will pull back (this is where you buy the dip). If you bought at the right time when it was trending up, then the dip wont matter and yes you made a good timed buy, which is why i look at moving averages.
All said and done, you cant predict everything right all the time. In the end it all boils down to how much you believe in the company, what their balance sheet is (if it's negative, will they eventually go up), vision, and scalability.
So in short, yes you can buy new highs but more chances than not, there will be a pull back. Would you buy Tesla's new high at $900, while thinking it will keep going up? Or will you wait for a pull back and buy the dip at $850? For starters, I would look at RSI, MA, and volume. I'm not saying Ulic is wrong or right, but it's not as simple as just buying highs or lows, etc.
Ulic, are you telling me you buy most of your stocks at breakout highs thinking they will continue to trend up? That's really bad advice for new investors without any experience imo. Just my 2 cents
just logged into my account and saw a huge chunk of gains, quickly looked at my holdings and saw that cciv shot up $12. going to have a feast and nice steak/wine tonight! not official but verbally confirmed. can still fall through so buy at your own risk. you decide if you want to buy now or wait for a dip (or even lose 80% of if it merger falls through lol).
No one with half a brain should be buying a SPAC that has run up to $50 with no confirmed LOI/DOA.
I expect it to drop after confirmation and trade flat.
I agree, I wouldn't buy it now. Expect it to pull back to maybe $40-45 and I would load up at $40 in a heartbeat tbh. It won't go lower than that unless merger falls through. I bought at $15 so I'm just enjoying the ride right now. High risk high reward.
Anyone got in on the Amy.vn train? I bought in at 0.37 just sold at 2.62. Hoping to get back in a bit lower
Quote:
Originally Posted by 68style
Maybe you should have posted about said train in here before it pulled away from the station lol
As someone earlier said, this is always going to the case, people reporting great gains AFTER a steep rise because ... well, it happened. The best that I've experienced is someone recommending something here and I caught a little bit of the tail end of the parabolic curve before it flattens out.
just logged into my account and saw a huge chunk of gains, quickly looked at my holdings and saw that cciv shot up $12. going to have a feast and nice steak/wine tonight! not official but verbally confirmed. can still fall through so buy at your own risk. you decide if you want to buy now or wait for a dip (or even lose 80% of if it merger falls through lol).
Ah I was looking at CCIV last week but chickened out.
Good job on the gains!
As someone earlier said, this is always going to the case, people reporting great gains AFTER a steep rise because ... well, it happened. The best that I've experienced is someone recommending something here and I caught a little bit of the tail end of the parabolic curve before it flattens out.
Still not too late. I think it's easy $20 stock in a couple years. Check it out, American manganese. Based in good old Surrey of all places. With the Ev craze and inevitable transition from ICE, Amy is positioned to be a leader in lithium recycling that everyone will need.
No one with half a brain should be buying a SPAC that has run up to $50 with no confirmed LOI/DOA.
I expect it to drop after confirmation and trade flat.
I personally think it'll hit 100-120 briefly. Imo it's the Tesla 2.0 everyone is waiting for. Most thought it was Nio but it wasn't because Nio is a Chinese based company, and no matter what anyone says the us market will still prefer an 'American' company over Chinese any day (even if it's Saudi backed). Also the fact Nio doesn't sell in us. Don't get me wrong though, I'm still and always will be a Nio long since early single digit prices.
Great gain today overall for weed stocks
Anyone playing $APHA / $TLRY merger? the said conversion rate is 0.836x, Aphria still has a lot of room to go, that is if Tilray holds its price for the next month or so. Earning for Tilray is tomorrow after close.
So basically, if people were allowed to buy GME, the price would’ve continued to soar (potentially into the thousands) and it may have collapsed the system.
If anyone bought SCR, it's undergoing a reverse split and they're returning a rounded up amount of shares at 10:1. I can't trade it on WS right now, but current value is at $50. It was $200 premarket LMAO
Still not too late. I think it's easy $20 stock in a couple years. Check it out, American manganese. Based in good old Surrey of all places. With the Ev craze and inevitable transition from ICE, Amy is positioned to be a leader in lithium recycling that everyone will need.
what makes you think they'd be a leader? Curious. I've seen the recent news releases etc.
But there's a bunch of metal recyclers and soon to be Public via SPAC.
yeah, kicking myself when I saw AMY.V at 50 cents...knew it was cheap.
Ulic, are you telling me you buy most of your stocks at breakout highs thinking they will continue to trend up? That's really bad advice for new investors without any experience imo. Just my 2 cents
Quote:
Originally Posted by Ulic Qel-Droma
to be honest buying the dip is the simp's way.
In my defense I did say it was for simps. new investors are simps.
That being said you don't just blindly buy any breakout. That would be stupid. It has to look nice. The consolidation/wedge/flag/whatever you wanna call it, has to fit with the picture. the second leg up is always your best bet.
jesse livermore called it the "pivotal point".
And the most money is made toward the end of the move. when something goes parabolic, that's when you keep adding on.
you exit into strength, when the bars are bigger than ever, and the volume spikes up 10-100x. That's when the stocks are changing hands from buyers to sellers. that's when you make your exit and never look back.
My advice is never for new investors. New investors have to learn by losing and blowing up their accounts, and spend years honing their psychology and learning from their own personal psychological weaknesses.
My advice is for people who have been trading for years, or decades, but still haven't made it big. I'm not an "investor". I'm a trader.
In my opinion, everyone that touches securities, whether its long term investing, collecting dividends, or actively trading, should always have a small pool of money on they're trying to build up to enormous amounts, AND have another pool of money doing safer long term bets.
the most important is to be always actively working on your own psychological weaknesses. that's more important than anything else. To never make the same mistake twice. Everything else (strategies, fundamentals, studying the market) is just icing on the cake.
Last edited by Ulic Qel-Droma; 02-20-2021 at 01:01 AM.
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