Day trading

[LivingAlmostLarge]

I'm a bit bored and I decided to have some fun. And Singuy made me want to play the stock market again. Okay yes I've lost a lot at times and so has DH. He lost in Oil and I lost in Natural Gas. I know that we should not be day trading. But I figure why not have some fun. I'm sticking to under $10k. Right now I am $3100 in risky stocks and I bought TSLA, KO, XOM, COST, and WMT for possibly longer term holds. But if I lose my shirt on UCO, CCL, JETS, TUP, WTIU well at least it was fun.

Stock Cost Daily Value Gain/Loss
UCO $809.95 $1,490.00 $680.05
CCL $806.00 $851.00 $45.00
Costco $5,790.20 $5,772.80 -$17.40
JETS $1,209.00 $1,230.00 $21.00
TSLA $4,786.10 $4,789.60 $3.50
TUP $130.50 $140.00 $9.50
WMT $2,368.00 $2,387.80 $19.80
WTIU $210.00 $220.00 $10.00
KO $4,365.50 $4,387.00 $21.50
KO $5,883.00 $4,387.00 -$1,496.00
KO SUM $10,249.50 $8,774.00 -$1,475.50
XOM $3,924.00 $3,940.00 $16.00
XOM $6,260.95 $3,940.00 -$2,320.95
XOM SUM $10,184.95 $7,880.00 -$2,304.95


Suggestions for other stocks you like. I'm willing to play a little I have $7k cash to play with. Something with risk will be interesting. Anyone else want to play? You can do fake money if you want as well. I'm trying to buy first thing in morning and checking right when markets close.

[disneysteve]

It's probably a good thing that I am not quarantined at home because I would almost definitely be day trading. Since I'm still working full time, I don't have the time to give it the attention it requires to do it right. I have made some purchases but none were meant as quick flips. They're things I think will take some time to recover but will eventually. I could already have sold them for quick profits but I haven't.

[Scallywag]

How weird that we picked almost the same stocks! I am "paper trading" (no actual money yet) and I picked TSLA, GOOG, AMZN, BKNG, MDT, JNJ, GM, WMT, COST, ISRG, CMG, TROW, FFIV, SWKS, FB, ANET and GRMN. I am very very bullish on almost all of these, and love that I can pick up stocks for really cheap if I wanted to, right now. Of the ones above, the last few are cash rich and almost debt free, and have a low P/E. The only truly "speculative" shares are TSLA and BKNG. I am waiting for DIS to dip down when they begin to furlough people off in the next 2 weeks and may also pick up some NFLX at that point.

But I want to wait for the end of April before I actually invest. I realize I may not get in at these current lows, but I've lost 7K in day trading in 2019 and aien't doing that again, since 7K is a large amount for me.

I think the markets will continue to be volatile at least until early May and may crash even more based on the current quarter results. We'll see.

[disneysteve]

I am waiting for DIS to dip down when they begin to furlough people off in the next 2 weeks

Don't you think furloughing folks is a positive for the company's finances?

[Scallywag]

Don't you think furloughing folks is a positive for the company's finances?

Exactly why I'd want to time my purchase around then. Pick it up cheap!

[disneysteve]

Exactly why I'd want to time my purchase around then. Pick it up cheap!

I would think that's already priced in since it's already known info.

[Scallywag]

The markets knew about COVID19 before it reached America, and then took a crash as if caught by surprise. It was at all time highs even when Chinese factories were shutting down. TSLA flew through the roof when China was closing with no end in sight. So I don't believe the markets really price in "known factors" too accurately and I don't think we've seen bottom yet.

I don't think furloughing people is a positive. DIS has a huge amount of debt, which is another reason I hesitate, as my focus is on cash rich, debt-free (or almost debt-free), undervalued (as measured by P/E) businesses. DIS does not fit this criteria and the entertainment industry has / will take an even bigger beating. The furlough is just Disney's way of saying, "We gotta send folks home because we can't afford to pay 'em." Penny wise, but the stock should crash because it means they are cash strapped enough to not be able to support their employees through these times. AND, they didn't try to lay off likely because they didn't want to pay unemployment. So, no, it's just bad news, even if it looks "good" on the surface.

I may be wrong, I hope I am wrong, but I don't necessarily think I am. I expect DIS to go down mainly because they have no idea how long their parks will be closed and NFLX is a good competitor. I believe there will be a major disruption to manufacturing due to disruption of supply chain networks and this virus will remain with us for at least 18 months. I think the bottom is yet to fall out. If it doesn't, then great. But I expect DIS & many others to go down even more, and I want to wait. Since I DCA anyway, no skin off my nose as I am unlikely to miss rock bottom.

[LivingAlmostLarge]

i'm planning on building a more dividend paying out taxable account portfolio after I think the market crashes in april. But until then I picked up a couple things I wanted which I think will perform for Q1.

[Scallywag]

i'm planning on building a more dividend paying out taxable account portfolio after I think the market crashes in april. But until then I picked up a couple things I wanted which I think will perform for Q1.

Which ones?

[disneysteve]

i'm planning on building a more dividend paying out taxable account portfolio after I think the market crashes in april.

We may see many companies cut their dividend payments.

[Like2Plan]

Suggestions for other stocks you like

My suggestion is to only buy stocks that go up. LOL.

Seriously though, I have been trying to figure out how to buy oil since it is so cheap right now. But, I don't understand how it works. Since you brought up UCO on the board, I have been thinking about it. (But, by the time I make a move it will be too late and oil will probably be back up to 120/barrel )

Since this is so speculative, I can't decide if I should use after tax or a Roth. Roth would be great if it did pan out and there were gains. But, no tax loss harvesting if there are losses. (I probably will end up doing nothing. )

[TexasHusker]

If you’re going to day trade right now, it would be way easier to buy puts for stocks that are going down, which is most of them. Day traders tend to also trade stocks with a lot of volatility. They don’t care about what the company is. Volatility allows for a lot of options strategies. Calls, puts, and an infinite combination thereof.

Successful day traders play both sides.

[TexasHusker]

My suggestion is to only buy stocks that go up. LOL.

Seriously though, I have been trying to figure out how to buy oil since it is so cheap right now. But, I don't understand how it works. Since you brought up UCO on the board, I have been thinking about it. (But, by the time I make a move it will be too late and oil will probably be back up to 120/barrel )

Since this is so speculative, I can't decide if I should use after tax or a Roth. Roth would be great if it did pan out and there were gains. But, no tax loss harvesting if there are losses. (I probably will end up doing nothing. )

You can buy oil on paper just like you can any other commodity. It’s called a futures contract. Not hard to do.

[LivingAlmostLarge]

I turned on the margin account to buy a put on expedia I'm thinking. I bought DOW and SP shorts today. Or I hope to buy them. I am thinking of buying a few more puts.

[bjl584]

I'm a member of a few trading groups on Facebook.
Tons of money being made on puts right now.
But, not sure how that will work out long term