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Big down day today. My bet is that it will be an up day tomorrow. I was turned on to a couple of shorts that are working out well, as well as MSFT that is a power stock and is holding up when SPY falls. I have to say, so far it has been worth the $50/mo.
I am going to pop this thread back up because I think it is important to let you know it is still working. There has been a naysayer here and I think he misinterpreted the way the site works. It is not about landing a big fish to make money, it is about catching little 3-10% fish week after week and keeping you from dumping the fish you have overboard. Since April, my IRA is up 25%, my Roth is up 52% and my savings are up just under 2% (but I added a large sum after using the strategy to make sure it was going to work before committing a significant sum I inherited), but the saving portion had already gained over 21% when I added that money a month ago. The strategy is using a chart to identify when a stock is on the way up to buy long and when to get out or buy it short it on the way down.
Just a quick note to let you know the charting taught by Phil is still working. I am letting you know because it is helping me make money. It helps me keep from losing money. It is $60 a month and I have made WAAAAAAYYYYYYYY over $600... That basically pays for the entire year with $$$'s to spare. While he does give stocks poised to gain one way or another, he teaches how to read the charts and how to trade long and short.
Trading with a chart = Painting your windshield black and looking at your rearview mirror to determine when / which direction / how much ... to turn
Okay. I know what you are saying, but the charting gives a probability of direction. It gives a framework to maximize the probability of gain and reduce the risk of loss.Quote:
Originally Posted by auminer
The way I looked at it was this, I was spending hours playing a stupid multi player game and doing pretty well. Top 100 player.... For what? Nothing. I decided to put my multi player gaming to work for a purpose that would help me in the future and decided to put the same effort into winning at the stock market I had been putting into the computer game. It is very easy to say, "I don't believe it will work", it is much more difficult to say, "I am going to learn this schitt and I am going to win at this game." All I am doing is letting people I have been acquainted with know that if you put the effort you put into scrapping into learning charting, you can make as much if not more money. If you want to talk more about it one on one, send a PM. I am not selling anything and I really don't care if you decide to try or not. I am just letting people here know I had the same reservations and decided to put my mind to it and do it.... and it has been working for me. The portfolio I had is up 14% in 8 months (probably more as I took the money from the stock account to buy the mobile home)... Way better than the .3% savings accounts offer, and that was my goal, to beat the savings account rate.
Quote:
Originally Posted by t00nces2
just FYI if you would have just plopped all your money into VTI or VTSAX (total market etf/fund) your return over the last 8 months would have been much higher than 14%, with literally zero work. Just buy and hold. It is rare to be able to beat the market as a whole. If you can and have a track record of doing so there are some brokers/fund managers that would pay you millions for your methodology.
VTI/VTSAX 1-year return is around 20%.... and 8 month return (with 8 months ago being in may when it was recoving from corona crash) it would be around 32%
https://i.postimg.cc/tCPqv1qq/Screen...-To-Reddit.pngQuote:
Originally Posted by t00nces2
Quote:
Originally Posted by alloy2
Don't blame reddit. If you do some research it was actually the fault of hedge funds who over-shorted the stock. The hedge funds shorted more shares than are in existence for gamestop, assuming that if they drive the price down low enough and force gamestop out of existence they'll never need to cover their position and will just reap the rewards of naked shorting the stock, while blowing the company up and 50,000 jobs, at the same time..... Now that the hedge funds are forced to buy shares to cover their shorts, they literally cant get their hands on enough shares because they shorted more than there is supply for. So huge demand + low supply = price skyrocketing. Redditors just saw that they were doing this out in the open and anticipated the short-squeeze. The hedge funds have been bleeding the market and normal investors for years with their market manipulation. Their own greed is going to cause them to lose money and they deserve it. Everyday people and normal investors may finally win one over on ol wall street.... doubt it though, they'll still find some way to weasel out of it like always
Quote:
Originally Posted by kss
I guess that is why they're called shorts, if your not careful you can lose them. Congrats to the winners.
Awesome. But I should tell you that I've had articles in Forbes, Barrons, etc.Quote:
Originally Posted by t00nces2
Barrons, 2JUN2008 was one I have here in my office. I was talking about Freeport McMaran (FCX) which drastically underperformed the market over the next year or so. Thankfully, the font page had BUY GM in huge font, so I didn't have the worst advice in the paper that day. (GM filed for bankruptcy about a year later)
I am holding some FCX at this time....Quote:
Originally Posted by auminer
I wonder how hard he hit it. Probably not too hard or the truck would still be there.Quote:
Originally Posted by alloy2
It looks like the reddit group is going into Silver. https://www.kitco.com/news/2021-01-2...Peter-Hug.html
I've invested in Silver wouldn't suggest day trading allot of risk in commodities.
Actually the main group (melvin capital) shorting gamestop is currently deploying an army of bots on reddit to SPAM posts and comments about silver.... Because they are the 6th largest holder of slvr. They are trying to pump silver, so they can sell it to cover their gme short losses and not go out of business. Don't fall for it!Quote:
Originally Posted by street_sweeper
UK, USA and Canada
https://www.wealthsimple.com/en-ca/
https://i.postimg.cc/pTLQ7xqQ/Screen...ck-Duck-Go.png
<a href="https://www.wealthsimple.com/en-ca/" target="_blank">https://youtu.be/lW4IT0F1SV4
I just read there is 35 billion in short Silverpositions and sites to buy physical silver are overloaded. This will be fun to watch stocking up on peanuts and popcorn and breaking into the cooler. Long on silver and sitting in the sidelines
I'm not trying to be asinine when I say that a casino would be a better place to take that sum. The rules are much more clear cut, and the possibility of quickly turning a small sum such as that into more than you could earn with an honest day's work is actually better.Quote:
Originally Posted by alloy2
Anything you might drop $500 on in the stock market, and quickly change its value more than 20% is about the same odds as you'd get at a roulette wheel.... and casinos at least serve you liquor while they rob you.