It got under $1500 for one day. I remember watching the price. I thought about dumping everything right before SQ reported last Wednesday. Would have been a great move and I might have rebought in this morning.
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Stock Thread (15 Viewers)
- Thread starter St. Louis Bob
- Start date
Put in a limit order to sell at $1790 last week when it topped out at $1780. Cost me a couple grand because I would have bought back in at the low 1600s...
Why would a CEO ever say something like that?
Do you know in what context he was saying it? Maybe it was some sort of motivational play?
Capella
Footballguy
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Capella
Footballguy
Yes. Look at the article. Every company at some point will fail, just like every empire/civilization goes belly up at some point. Dinosaurs went extinct. It was based on a question about Sears going bankrupt. His point was that the goal was to delay that as long as possible by focusing on the customer. Almost laughable that stuff like this becomes news.
Today’s society sucks so much sometimes. You can’t even speak hypothetically or philosophically without every word being dissected to the point that the meaning is lost in the first seconds of the follow up discussion. Everything is so instant that I honestly think people have a hard time sitting back and having an honest to goodness discussion. I have to reign my 11 year old in sometimes. Kids and phones, like they are multitasking all the time. It’s why I always enjoy sports. One thing, nothing else they can do. Focus is so lacking sometimes.
Capella
Footballguy
All I care about is if it affects the stock price man. I don’t even know what you’re talking about.
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Lol. Waxing philosophically, but your response is perfect. It shouldn’t have any affect.
culdeus
Footballguy
Such negative sentiment around them right now. I would be looking for a market disruptor.
They were lucky to get instagram when they did. Now they seem intent on driving that into the ground as well.
Don't Noonan
Footballguy
NeverEnough
Footballguy
Amazon back down in the $1,5XX range. Buy again?
skycriesmary
Climbing up the Walls
I was kicking myself for not jumping on Amazon over the last few years. Kicked myself again for not getting in at $1,500 when it hovered about 2k. Now that the opportunity is back, I'm having cold feet. A great example of why I should not invest anything in particular stocks, but put my IRA in a mixed index fund.
Don't Noonan
Footballguy
Seems like a pretty good call. I sold a put spread around that time and it is doing well. May exit the position to lock in a gain.
fantasycurse42
Footballguy Jr.
If you're searching for a bottom, while nothing is a guarantee, you're going to need to see some panic. All of the selling since October has been very controlled. VIX is going to have to spike, volume needs to be high... you'll need to wait for signs of pure panic.
Until we get that, I doubt we can really sustain a rally.
Until we get that, I doubt we can really sustain a rally.
fantasycurse42
Footballguy Jr.
Also, reading more and more about an economic slowdown coming. For the life of me, I don't ever remember a luxury automaker doing well into a slowdown, yet everyone is buying Tesla up... Just don't get it.
fantasycurse42
Footballguy Jr.
I look at Nvidia and how hard they've fallen and think I want to buy it, but when you dive into their earnings and guidance, it's ugly, real ugly.
I might start nibbling on the way down for some long term stuff, think they're gonna be a player in AI and driverless cars down the road.
Hard to get excited about a company that is down 50% in 6 weeks though.
I might start nibbling on the way down for some long term stuff, think they're gonna be a player in AI and driverless cars down the road.
Hard to get excited about a company that is down 50% in 6 weeks though.
proteus126
Footballguy
My monthly scheduled buy of VFIAX (VG S&P 500) is coming up next week. I bought an additional $1k today, just to have done something. Meh.
jvdesigns2002
Footballguy
I'm kinda looking at Nvidia too. With the drop they are trading around a multiple of 18x. It went from being an expensive stock to one that actually is starting to enter bargain/upside territory. I'm not sure if I'm confident enough to predict this as being the true bottom--but it's not required to buy things at a true bottom to return profits.
fantasycurse42
Footballguy Jr.
Chip stocks, depending on what kind of chip they are, usually trade at cheaper PEs, Nvidia was the outlier, so be careful looking at PE making a decision on these.jvdesigns2002 said:
See Micron’s P/E as an example.
NeverEnough
Footballguy
I said this earlier, but I agree with this....under normal circumstances. These don't seem to be normal circumstances though.
Capella
Footballguy
I got a lot of money wrapped up here man. It’s not irrational, i need to keep some semblance of profits. This thing has lost 600 a share in a few weeks.
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Sand
Footballguy
Capella
Footballguy
Lol this #### sucks. This thing has shaved like 30% in a month. Wild to me this isn’t a bigger story.
Zegras11
Footballguy
Seems like it's a pretty big story to me (along with FANG and tech in general), but it's still up ~28% on the year. Don't look at a longer term chart unless you want to #### yourself.
The_Man
Footballguy
jvdesigns2002
Footballguy
For those of who are more market savvy and have more market experience than I. Dumb question--does the shortened week for the stock market increase the chances for volatility historically? Just seems like whatever direction the market wants to do this week will only have 3.5 trading days to do it versus having a typical 5.
I know, so pissed at myself that i didn't dump everything the huge day. @Bob Sacamano were talking about SQ and their earnings night (which was coincidentally the top of the recent ups and downs). I was thinking about dumping, but by the time I got through security at Denver, it was 3:59 EST. I had time on the shuttle to the airport and I should have been happy with the amount I was up and known the market was still negative and it was worth protecting. That said, this is all in my IRA, so I can sit on it for years and wait for the comeback.
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culdeus
Footballguy
ffldrew
Footballguy
Yea - be like this guy who sticks by his bitcoin price of 15K
https://www.cnbc.com/2018/11/20/fundstrat-tom-lee-stands-by-15000-dollar-year-end-bitcoin-target-as-prices-sink.html
It's playing out that way this year, but that's because we're in major risk-off mode. Generally though, this is a good week for stocks with below average volume and volatility. Again, this isn't normal.
proteus126
Footballguy
High flyer shedding price rapidly during a broad correction that is specifically focused on tech. Correction due to high valuations being hit due to slowing housing and rising rates. Very normal. The pain is enhanced on high beta stocks.
Give it a year. Amazon is a great company.
Up 3% since I said to buy. You're welcome.
I get that there is a point at which one would like to buy more at a specific level (I'd be a buyer at $1500) but if your portfolio is already loaded up with the number of shares you're happy with, then you've got to just hold. That's where I am, even with 20 measly shares. In fact, I wanted to sell at $1790 (figuring that these things tend to bump up against round numbers like 1800 and push back down--one of my many unproven theories) to get down to ten shares. So I would be a buyer but I'm in the same boat as you--saturated.
