Boiler Room: The Official Stock Market Discussion

[K-Deini]

I have no idea what to do right now. I dont feel comfortable buying for swing trading at some of these prices and I also don't feel like things are back to normal enough to buy long term either. I'm lost

 

[Saysumthinfunnymike]

I have no idea what to do right now. I dont feel comfortable buying for swing trading at some of these prices and I also don't feel like things are back to normal enough to buy long term either. I'm lost

I didn't buy shyt today, I missed the train on PENN. All the casino stocks are soaring.

I might have to stay put a couple days, we are in this zone right now where I'm uncertain whether there will be a sell off at the end of the week or if prices just keep going up.

 

[Saysumthinfunnymike]

Remember Monday is a holiday. Do we see a big sell off headed into the long weekend? I'm not sure..

 

[Saysumthinfunnymike]

What do the bears think? We are still straddling the 24.5K line on the DOW.

I haven't seen any bears post at all this week. I'd be interested to see if they still feel a crash is coming.

 

[K-Deini]

I didn't buy shyt today, I missed the train on PENN. All the casino stocks are soaring.

I might have to stay put a couple days, we are in this zone right now where I'm uncertain whether there will be a sell off at the end of the week or if prices just keep going up.

The casinos and hotels seem like the wave to be on right now. Part of me thinks they will keep going up because I just dont see government's closing down again no matter what. People just don't care anymore and won't let this ruin their summer. Ironically why I bought airlines, idk anymore.

 

[Saysumthinfunnymike]

The casinos and hotels seem like the wave to be on right now. Part of me thinks they will keep going up because I just dont see government's closing down again no matter what. People just don't care anymore and won't let this ruin their summer. Ironically why I bought airlines, idk anymore.

Yeah, I think the ship sailed on casinos. It was a matter of time. The casinos around here are opening June 1st.

MGM is a possible look here. It's at $16.70. If you buy here and it goes back down to the $12 range you could average down with it. If it keeps going then fine maybe it gets to $25

 

[Saysumthinfunnymike]

@BucciMane what do you think of MGM at this price?

 

[Serious]

 

[K-Deini]

Yeah, I think the ship sailed on casinos. It was a matter of time. The casinos around here are opening June 1st.

MGM is a possible look here. It's at $16.70. If you buy here and it goes back down to the $12 range you could average down with it. If it keeps going then fine maybe it gets to $25

Thats my thinking, I hate buying on big green days though. I feel like some kind red will be here before the 3 day weekend, at least that's what I'm hoping for

 

[BucciMane]

@BucciMane what do you think of MGM at this price?

Could be a pull back, but it could also go like ERI If Las Vegas starts to open up.

 

[Saysumthinfunnymike]

Thats my thinking, I hate buying on big green days though. I feel like some kind red will be here before the 3 day weekend, at least that's what I'm hoping for

Could be a pull back, but it could also go like ERI If Las Vegas starts to open up.

I too am skeptical of the okie doke headed into the long weekend.

I think I'll stand firm on my positions right now and hold the cash I have.

If it gets away then we will have to work harder to find value. All is not lost, there is always value to be had.

 

[Da_Eggman]

Dollar cost averaging bruhs

 

[Macallik86]

For nikkas who trade options where did you learn? Specific youtube vids, specific channels, websites, etc?

Generally, just read whatever is one Investopedia to get the hang of things. From there, check out YouTube if you need a visual explanation layered on top

The majority of option trading podcasts & channels are run by people who are knowledgeable about options but not necessarily great traders FYI. So it helps to have an existing trading strategy imo. Here are some resources for learning more about options:

• Tom Sosnoff has a podcast you can find on YouTube. He shoots the shyt with hosts/guest hosts. Probably a more relaxed way to learn about options. He also has some educational videos on options under TastyTrade IIRC. He is more of an entertainer/storyteller than an educator FYI
• OptionAlpha is a popular podcast that you can find on most podcast platform. He breaks things down a lot but he is one of those "probability says buying options don't work so I only sell premium" kinda guys IIRC.

In terms of reading, two options I'd recommend is:

• Options as A Strategic Investment is basically the bible of Option Trading. I read it cover to cover years ago. It will teach you everything you need to know about options but it reads more like a college-level textbook than a consumer-facing resource.
• Trend Trading for a Living I read the 1st edition of this book. They teach a strategy and then have a chapter that breaks down how to use options for trend trading. Some libraries also have it as well, so check online to see if that's an option for ya.

 

[dora_da_destroyer]

Dollar cost averaging bruhs

Sometimes you still stuck with the L. I’ve brought my avg price for UA down from $19 to $16 to $13 to $12...will someone please buy the god damn curry’s

 

[dora_da_destroyer]

Generally, just read whatever is one Investopedia to get the hang of things. From there, check out YouTube if you need a visual explanation layered on top

The majority of option trading podcasts & channels are run by people who are knowledgeable about options but not necessarily great traders FYI. So it helps to have an existing trading strategy imo. Here are some resources for learning more about options:

• Tom Sosnoff has a podcast you can find on YouTube. He shoots the shyt with hosts/guest hosts. Probably a more relaxed way to learn about options. He also has some educational videos on options under TastyTrade IIRC. He is more of an entertainer/storyteller than an educator FYI
• OptionAlpha is a popular podcast that you can find on most podcast platform. He breaks things down a lot but he is one of those "probability says buying options don't work so I only sell premium" kinda guys IIRC.

In terms of reading, two options I'd recommend is:

• Options as A Strategic Investment is basically the bible of Option Trading. I read it cover to cover years ago. It will teach you everything you need to know about options but it reads more like a college-level textbook than a consumer-facing resource.
• Trend Trading for a Living I read the 1st edition of this book. They teach a strategy and then have a chapter that breaks down how to use options for trend trading. Some libraries also have it as well, so check online to see if that's an option for ya.

Thanks for posting actual educational resources. I don’t always find podcasts helpful because they’re not sequentially going thru the abc’s of what an option is, the terminology, basic strategy, etc.