The Market 2021

BigRedRage

Reckless
Supporting Member
Joined
Mar 25, 2005
Posts
48,274
Reaction score
12,520
Location
SE valley
decided to start learning about options trading, dipped my toes into two small ones to try it out. Pretty cool and fun. One of them valued at $22 today a 500 stock would have cost me 11k to buy stocks for it but instead gambled about $150 in a call option that can sink or swim. I think I like this a lot more for my non long term stock trading. I hate putting $11,000 into the market unless its a stock I am hyper bullish on for the long term.
 

BigRedRage

Reckless
Supporting Member
Joined
Mar 25, 2005
Posts
48,274
Reaction score
12,520
Location
SE valley
Strangely. Pattern recognition/cycles is the basis for both. That's why the golden ratio can be used in both the zodiac and TA.

I think TSLA will easily be at $720 by mid april. What do you think? I'm learning how to draw on charts to study but I'm really dumb still.

This is what I drew up a few weeks ago on charts when the stock was over 800. The overbuy line has moved and we are now in the safe zone

edit: My chart and lines are not showing support for 720 for mid april, more like 650/700. looks like 720 would be in the overbuy range still and above my support line.

(full disclosure, a friend did a call option for 4/19 to be at 720. I am just trying to analyze, for fun and learning, whether I think that is a good bet or not. per this chart, I say no. It is possible but the resistance WILL still be lower per my findings.

You must be registered for see images attach
 
Last edited:

dscher

ASFN Icon
Joined
Sep 3, 2008
Posts
12,864
Reaction score
7,772
Location
Mesa, AZ
I think TSLA will easily be at $720 by mid april. What do you think? I'm learning how to draw on charts to study but I'm really dumb still.

This is what I drew up a few weeks ago on charts when the stock was over 800. The overbuy line has moved and we are now in the safe zone

edit: My chart and lines are not showing support for 720 for mid april, more like 650/700. looks like 720 would be in the overbuy range still and above my support line.

(full disclosure, a friend did a call option for 4/19 to be at 720. I am just trying to analyze, for fun and learning, whether I think that is a good bet or not. per this chart, I say no. It is possible but the resistance WILL still be lower per my findings.

You must be registered for see images attach
You must be registered for see images attach


Snapshot this one from my phone for ya on a weekly chart since I believe you are a long term holder. Considering this is a weekly chart, it is more powerful than just the dailies or hourly ones, so it gives more clarity for longer term pictures. So, imo, seeing this triangle pattern is a bearish sign for a stock. Typically you will have a break down(which we have already seen) and then the next move will be either that major support at 450ish area near the 50 week ma. (Blue line). Or, we have another run or semi run at that upper trend line before heading back down again. Keep at it with trend line drawing..some of my earliest hangups were with settling for momentum indicators and what not. While useful they are only indicators..the true power of TA lies on the ability for pattern recognition and good simple trend line drawing. Simple for dumb people like myself as well.. ;)
 

BigRedRage

Reckless
Supporting Member
Joined
Mar 25, 2005
Posts
48,274
Reaction score
12,520
Location
SE valley
You must be registered for see images attach


Snapshot this one from my phone for ya on a weekly chart since I believe you are a long term holder. Considering this is a weekly chart, it is more powerful than just the dailies or hourly ones, so it gives more clarity for longer term pictures. So, imo, seeing this triangle pattern is a bearish sign for a stock. Typically you will have a break down(which we have already seen) and then the next move will be either that major support at 450ish area near the 50 week ma. (Blue line). Or, we have another run or semi run at that upper trend line before heading back down again. Keep at it with trend line drawing..some of my earliest hangups were with settling for momentum indicators and what not. While useful they are only indicators..the true power of TA lies on the ability for pattern recognition and good simple trend line drawing. Simple for dumb people like myself as well.. ;)

I suck at reading your chart. still too dumb. working on it.
 

AZCrazy

ASFN Lifer
Joined
May 18, 2014
Posts
3,964
Reaction score
2,507
Don't worry about TSLA. They will be a huge player in world commerce for generations.
 
OP
OP
Folster

Folster

ASFN Icon
Joined
Jun 23, 2005
Posts
15,839
Reaction score
6,064
Fun facts. Ford has outperformed Tesla over the last 6 months.

F posted 2020 revenue $127B while TSLA posted 2020 revenue of $31B.

F has a Price to Sales (P/S) ratio of .37 while TSLA is 24.67.
 

dscher

ASFN Icon
Joined
Sep 3, 2008
Posts
12,864
Reaction score
7,772
Location
Mesa, AZ
GME still looks primed for lift off.. the consolidation gave it time to build energy for that next move to 400! We shall see.. cool stock to chart and witness the hype behind it.
 

BigRedRage

Reckless
Supporting Member
Joined
Mar 25, 2005
Posts
48,274
Reaction score
12,520
Location
SE valley
GME still looks primed for lift off.. the consolidation gave it time to build energy for that next move to 400! We shall see.. cool stock to chart and witness the hype behind it.
Their recent hirings have been fantastic, taking advantage of this opportunity and rebuilding the business.
 

BigRedRage

Reckless
Supporting Member
Joined
Mar 25, 2005
Posts
48,274
Reaction score
12,520
Location
SE valley
starting to think BA is totally recovered and will just be a slow possible growth stock depending on war. Airlines picking up will help them but based on 5 year charts, it may not bring the stock significantly higher. Over the 5 years, it boomed from 2016-2020 but that could be a presidential administration thing and a focus on building military during that time frame.Considering selling on the next spike and moving on, this was a BTD stock for me when covid hit the market

You must be registered for see images attach
 

dscher

ASFN Icon
Joined
Sep 3, 2008
Posts
12,864
Reaction score
7,772
Location
Mesa, AZ
starting to think BA is totally recovered and will just be a slow possible growth stock depending on war. Airlines picking up will help them but based on 5 year charts, it may not bring the stock significantly higher. Over the 5 years, it boomed from 2016-2020 but that could be a presidential administration thing and a focus on building military during that time frame.Considering selling on the next spike and moving on, this was a BTD stock for me when covid hit the market

You must be registered for see images attach
You must be registered for see images attach


This is what I'm seeing with BA. We are at an inflection point. We clear that 235 on a weekly basis where I put a horizontal line and prior highs(resistance) than it should be ready to rock up to that red line (200 ma). But if we don't, uh oh. Sorry, always bearer of potential doom with me, I know. :)
 

BigRedRage

Reckless
Supporting Member
Joined
Mar 25, 2005
Posts
48,274
Reaction score
12,520
Location
SE valley
You must be registered for see images attach


This is what I'm seeing with BA. We are at an inflection point. We clear that 235 on a weekly basis where I put a horizontal line and prior highs(resistance) than it should be ready to rock up to that red line (200 ma). But if we don't, uh oh. Sorry, always bearer of potential doom with me, I know. :)

300 was my original thought when covid hit. I didnt know anything about what I was doing and was just buying stocks and comparing where they were in january and saying I wanted to sell at around that point. Your TA saying 280ish is pretty interesting to me in retrospect. Another 20% would make sense.
 

dscher

ASFN Icon
Joined
Sep 3, 2008
Posts
12,864
Reaction score
7,772
Location
Mesa, AZ
300 was my original thought when covid hit. I didnt know anything about what I was doing and was just buying stocks and comparing where they were in january and saying I wanted to sell at around that point. Your TA saying 280ish is pretty interesting to me in retrospect. Another 20% would make sense.
Yes, clear that 235 area and hold and it should be ready to move. The market as a whole is a dangerous place right now... It's literally holding onto everything based on what one man says today... strange bizarre stuff at the moment.
 

dscher

ASFN Icon
Joined
Sep 3, 2008
Posts
12,864
Reaction score
7,772
Location
Mesa, AZ
One man speaks. One man flips markets. This isn't smooth market functioning. When the market doesn't get it's drug fix guarantee of more money printing/QE and throws a temper tantrum... houston we have a problem!
 

BigRedRage

Reckless
Supporting Member
Joined
Mar 25, 2005
Posts
48,274
Reaction score
12,520
Location
SE valley
I had a 640 limit buy for TSLA last week or early this week and decided 695 was good enough and cancelled it/bought. oops! Sitting at 607 right now!

What a nightmare for the market today
 

BigRedRage

Reckless
Supporting Member
Joined
Mar 25, 2005
Posts
48,274
Reaction score
12,520
Location
SE valley
its really odd how identical AMC and GME patterns can be

You must be registered for see images attach
 
OP
OP
Folster

Folster

ASFN Icon
Joined
Jun 23, 2005
Posts
15,839
Reaction score
6,064
I had a 640 limit buy for TSLA last week or early this week and decided 695 was good enough and cancelled it/bought. oops! Sitting at 607 right now!

What a nightmare for the market today

Both US growth and value indices are down about equally today, a little over 1.5%. Energy is the only sector up and utilities are flat.
 

BigRedRage

Reckless
Supporting Member
Joined
Mar 25, 2005
Posts
48,274
Reaction score
12,520
Location
SE valley
I think TSLA will easily be at $720 by mid april. What do you think? I'm learning how to draw on charts to study but I'm really dumb still.

This is what I drew up a few weeks ago on charts when the stock was over 800. The overbuy line has moved and we are now in the safe zone

edit: My chart and lines are not showing support for 720 for mid april, more like 650/700. looks like 720 would be in the overbuy range still and above my support line.

(full disclosure, a friend did a call option for 4/19 to be at 720. I am just trying to analyze, for fun and learning, whether I think that is a good bet or not. per this chart, I say no. It is possible but the resistance WILL still be lower per my findings.

You must be registered for see images attach

You must be registered for see images attach


textbook
 
Top