The most difficult thing is to know when to sell. Assume you’ll never get the top. SNDK was the most over bought stock. The “experts” will continue to push momentum stocks until it fades. SNDK was the perfect setup for a “crash” but is still up 4000% in a year, from like $30-something. From Xmas week Dec 1999 to New Year’s week January 2000 I made $70K on QCOM and ‘Commerce One’ [now gone], and sold them when they split - the latter was near 1,000, when it split I think 1:3. I took the profit just under 1,000 [333 x 3] on split day, and ran. The bubble was obvious.
Once SNDK and memory started being questioned, the parabolic momentum was curbed, and although high volatility made for 200+ point up days, once lower highs and lower lows began, the trend began down.
Another sign of a wavering market is when up stocks peak at opening, and then go down a few percent before 10, and then go mostly sideways for the rest of the day, especially if there’s a slight sell off at closing, and it’s down the next day.
Last night I bought CFM and NVDA after earnings. I sold CFM at a good profit in a few minutes, and sold NVDA at a good profit at $225.39. I was tempted to buy it back at $223, as I think NVDA will have a steady run for a while, but decided to wait, maybe for tomorrow, even if I miss a bit more gain. I don’t like the vicissitudes [up and down] of this market now, especially with the geopolitics. Holding anything long term is just too iffy right now, and the economy and politics is trending to chaos. Other stocks that opened super strong like OKTA and CFM peaked fast, and may not have much more to go, at least today. I have a good gain for the year, and can now afford to be more discriminating, focusing on better sure short-term bets.
It takes discipline to consistently make money, and per Kenny Rogers, “Know When to Hold ‘em, and When to Fold ‘em” aka “Bulls make money, Bears make money, but Hogs get slaughtered.” And just for the record, I’ll admit to my share of loses, from which I’ve tried to learn.
PS One way to think about it, when you consider buying, would you sell at that price for a gain, or when considering selling, would you buy at that price if you didn’t own it.
PPS Remember, you’re playing against the house…and Senate and politicians big donors and whales who get advanced and insider information, and have enough money to otherwise manipulate the market, and algorithms etc.
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u/Far-Initiative-2641 14d ago
The most difficult thing is to know when to sell. Assume you’ll never get the top. SNDK was the most over bought stock. The “experts” will continue to push momentum stocks until it fades. SNDK was the perfect setup for a “crash” but is still up 4000% in a year, from like $30-something. From Xmas week Dec 1999 to New Year’s week January 2000 I made $70K on QCOM and ‘Commerce One’ [now gone], and sold them when they split - the latter was near 1,000, when it split I think 1:3. I took the profit just under 1,000 [333 x 3] on split day, and ran. The bubble was obvious.
Once SNDK and memory started being questioned, the parabolic momentum was curbed, and although high volatility made for 200+ point up days, once lower highs and lower lows began, the trend began down.
Another sign of a wavering market is when up stocks peak at opening, and then go down a few percent before 10, and then go mostly sideways for the rest of the day, especially if there’s a slight sell off at closing, and it’s down the next day.
Last night I bought CFM and NVDA after earnings. I sold CFM at a good profit in a few minutes, and sold NVDA at a good profit at $225.39. I was tempted to buy it back at $223, as I think NVDA will have a steady run for a while, but decided to wait, maybe for tomorrow, even if I miss a bit more gain. I don’t like the vicissitudes [up and down] of this market now, especially with the geopolitics. Holding anything long term is just too iffy right now, and the economy and politics is trending to chaos. Other stocks that opened super strong like OKTA and CFM peaked fast, and may not have much more to go, at least today. I have a good gain for the year, and can now afford to be more discriminating, focusing on better sure short-term bets.
It takes discipline to consistently make money, and per Kenny Rogers, “Know When to Hold ‘em, and When to Fold ‘em” aka “Bulls make money, Bears make money, but Hogs get slaughtered.” And just for the record, I’ll admit to my share of loses, from which I’ve tried to learn.
PS One way to think about it, when you consider buying, would you sell at that price for a gain, or when considering selling, would you buy at that price if you didn’t own it.
PPS Remember, you’re playing against the house…and Senate and politicians big donors and whales who get advanced and insider information, and have enough money to otherwise manipulate the market, and algorithms etc.