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What Stocks Are You Buying?

austrianecon said:
Fundamentals don't matter anymore. What is happening in the market is short seller squeeze as people are banding together like Hedge Funds and going long. I am dumping AMC on Monday. I made my profit.
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I thought according to the reddit army, money didn't matter and "diamond hands."

You cannot lose if you hold, right?
 
austrianecon said:
Fundamentals don't matter anymore. What is happening in the market is short seller squeeze as people are banding together like Hedge Funds and going long. I am dumping AMC on Monday. I made my profit.
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Fundamentals may not matter but charts do matter when the stock is still trading at levels where previous resistance is found. In the case of GME, when it broke above $57 (all time high) the charts and fundamentals ceased to be of importance for the simple reason that the people who would be interested in shorting have no level/price where they can get together as a group to sell enough to overcome the buying. In the case of AMC, there is resistance at the $20 level and then again at the all-time high at $34 so what makes a true short squeeze is not there (no chart resistance levels where others (like computers and algorithms) will gather to sell).

I do hope that you make some profit. At what price did you buy?
 
Bucky said:
I thought according to the reddit army, money didn't matter and "diamond hands."

You cannot lose if you hold, right?
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Who said I was part of the Reddit army? I can make profit on their egos and not be apart of them.
 
Luckyone said:
Fundamentals may not matter but charts do matter when the stock is still trading at levels where previous resistance is found. In the case of GME, when it broke above $57 (all time high) the charts and fundamentals ceased to be of importance for the simple reason that the people who would be interested in shorting have no level/price where they can get together as a group to sell enough to overcome the buying. In the case of AMC, there is resistance at the $20 level and then again at the all-time high at $34 so what makes a true short squeeze is not there (no chart resistance levels where others (like computers and algorithms) will gather to sell).

I do hope that you make some profit. At what price did you buy?
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I went at $60 on GME and sold at $300. I made $240ish a share. So I am golden without saying the amount of shares I bought.
 
austrianecon said:
I went at $60 on GME and sold at $300. I made $240ish a share. So I am golden without saying the amount of shares I bought.
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Congratulations on your entry point and more so on your exit point. Good trading or good common sense.

Let me tell you of a trade I did in the past few months. I bought ENG at $.84 cents and liquidated at $7.24. That was an 800% profit over a period of just 2 months. This was all done by charts and fundamentals. ENG is a clean energy stock that took off when Biden got elected.
 
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austrianecon said:
I went at $60 on GME and sold at $300. I made $240ish a share. So I am golden without saying the amount of shares I bought.
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Smart move to get out. Congrats on your gain.
 
Luckyone said:
Here is a trade that I mentioned to my subscribers this past week and that I feel is a very good trade with very small limited risk and decent profit potential.

The stock is PFE (Pfizer). The stock is trading around 36.40 today. It is a buy here with a stop loss at 34.44. Objective is $44 to be reached over the next 3-6 months. You are risking about $2 per share to make about $8 per share, which is a 4-1 risk/reward ratio. The probability rating I give this trade is 80%.
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You may have underestimated the fact PFE's vaccine will be rendered obsolete in the next few months if JNJ can get their one-shot vaccine approved.
 
Bucky said:
You may have underestimated the fact PFE's vaccine will be rendered obsolete in the next few months if JNJ can get their one-shot vaccine approved.
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I don't do fundamental trades. I do charts and today the chart has been fulfilled to the downside, meaning that what the stock does from here, it will be meaningful. I bought additional shares today at 34.66 and I am now averaged long at 35.66. Stock is trading at 35.01 right now. Stop loss will be changed to 34.17 so this risk is $1.50 per share. Upside objective remains the $41 level, meaning that I am risking $1.50 to make $5.50 per share, which is about 3.5-1 risk.reward ratio.

BTW, the thing about PFE is that the vaccine is only a small part of its medical repertoire. PFE is a large established medical company and health care will be one of the industries that is likely to do well in the Biden administration.
 
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