Boiler Room: The Official Stock Market Discussion
Saysumthinfunnymike
VOTE!!!
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
VOTE!!!
Remember Monday is a holiday. Do we see a big sell off headed into the long weekend? I'm not sure..
Saysumthinfunnymike
VOTE!!!
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.
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.
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
VOTE!!!
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
VOTE!!!
@BucciMane what do you think of MGM at this price?
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 forYeah, 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
Could be a pull back, but it could also go like ERI If Las Vegas starts to open up.
Saysumthinfunnymike
VOTE!!!
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.
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.
- 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
Master Baker
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
Master Baker
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.