Boiler Room: The Official Stock Market Discussion

[Ohene]

decent bounce

 

[Futuristic Eskimo]

time to purchase some SPY calls.quick profits to be made within the next few days

 

[Ohene]

time to purchase some SPY calls.quick profits to be made within the next few days

Good luck breh...hopefully we can all eat. The market is really a matter of gambling when it comes to the short term. Everything was pointing to the SPY heading up until Kerry

 

[Ohene]

headfake

It aint eeven lunch yet and its heading to 164

 

[Lakers Offseason]

headfake

It aint eeven lunch yet and its heading to 164

It'll bounce breh. I got in TSLA yesterday and I'm up

 

[Rekkapryde]

hopefully this take two stock jumps after GTAV releases.

 

[Ohene]

hopefully this take two stock jumps after GTAV releases.

itll crush estimates. hold that stock for a year or two.

 

[Broke Wave]

wrong thread

 

[chopchop702]

Seems a lot of you actually invest rather than trade. Are there any technical traders in here? I've been learning the past few months and try to chart my own stuff based off ideas I got on StockTwits.

Ill Im trying to learn but I don't know where to go. Do you have to get an MBA to learn?

No way. I took an intro class on BullsOnWallStreet.com when they had a GroupOn for $49 or something. Really good intro class to the basics like consolidation, breakouts, scanning for stocks, moving averages, etc.

You can find plenty of info online on charting and skip the $40k/year in tuition.

Maybe its just the market working for me now but I've found much more success with charting/tech trading than I did with fundamental investing. After you look at the price action based off patterns, you kind of throw the fundamentals out the window.

Trading strictly upon technicals is a fools game and you will go broke doing it. Understanding the overall macro theme to the game and trading around it is what really works. I'm talking macro themes such as rising bond rates, emerging market outflows, U.S growth accelerating, Japanese government devaluing their currency, European countries just now coming out recession, etc.

All that 50 day, 200 day, RSI indicator, etc. is all a bunch of bullshyt that people over analyze and try to make sense out of a chart that has NO actual sense to make out of it.

You see...the problem with technical trading is....WE ALL SEE THE SAME THING. So how could that possibly give anyone any kind of edge over another trader?

So lets say techinical analysis actually works...then why arent we all rich by now?? It doesnt work man.

Listen...you don't think that these hedge fund managers and high frequency firms who control the game dont see the same technical analysis as we do? You think they use the same thing as we do in our little bullshyt chart examinations and act off that?

NO! they actually use those stupid things to take advantage of everyone.

Here is a video of CNBC's beloved Jim Cramer of when he used to run a hedge fund and how HE HIMSELF used to try and manipulate the markets. Funny how he calls Bob Pisani a tool and now hes his "co-worker" on CNBC.

 

[Domingo Halliburton]

Trading strictly upon technicals is a fools game and you will go broke doing it. Understanding the overall macro theme to the game and trading around it is what really works. I'm talking macro themes such as rising bond rates, emerging market outflows, U.S growth accelerating, Japanese government devaluing their currency, European countries just now coming out recession, etc.

All that 50 day, 200 day, RSI indicator, etc. is all a bunch of bullshyt that people over analyze and try to make sense out of a chart that has NO actual sense to make out of it.

You see...the problem with technical trading is....WE ALL SEE THE SAME THING. So how could that possibly give anyone any kind of edge over another trader?

So lets say techinical analysis actually works...then why arent we all rich by now?? It doesnt work man.

Listen...you don't think that these hedge fund managers and high frequency firms who control the game dont see the same technical analysis as we do? You think they use the same thing as we do in our little bullshyt chart examinations and act off that?

NO! they actually use those stupid things to take advantage of everyone.

Here is a video of CNBC's beloved Jim Cramer of when he used to run a hedge fund and how HE HIMSELF used to try and manipulate the markets. Funny how he calls Bob Pisani a tool and now hes his "co-worker" on CNBC.

yeah I was never a technical guy. Maybe it had a lot to do with my college because I had some professors just openly shyt on it, but also there's a lot of evidence that says it's all bullshyt as well. The thing is a ton of people use it and I think it almost becomes a self-fulfilling prophecy - "AAPL broke above it's 50 day moving average!" and then a ton of people pile in.

 

[Bernie Madoff]

some reasons: possible war with syria that's why you're seeing US treasury yields down and gold up. durable goods numbers sucked. Italy acting like fukking morons again.

Edit: bill ackman getting out of JCP

Got in at 13.49 sold today at 13.85. Probably buy back in tommorow..

Good looks on the rad info, sinking at the moment. Wtf is up with siri? I'm in on bbry at 9.58. Rinse and repeat.

 

[Mr swag]

Bought like 160 shares yesterday. People are stupid

 

[ill]

Trading strictly upon technicals is a fools game and you will go broke doing it. Understanding the overall macro theme to the game and trading around it is what really works. I'm talking macro themes such as rising bond rates, emerging market outflows, U.S growth accelerating, Japanese government devaluing their currency, European countries just now coming out recession, etc.

All that 50 day, 200 day, RSI indicator, etc. is all a bunch of bullshyt that people over analyze and try to make sense out of a chart that has NO actual sense to make out of it.

You see...the problem with technical trading is....WE ALL SEE THE SAME THING. So how could that possibly give anyone any kind of edge over another trader?

So lets say techinical analysis actually works...then why arent we all rich by now?? It doesnt work man.

Listen...you don't think that these hedge fund managers and high frequency firms who control the game dont see the same technical analysis as we do? You think they use the same thing as we do in our little bullshyt chart examinations and act off that?

NO! they actually use those stupid things to take advantage of everyone.

Here is a video of CNBC's beloved Jim Cramer of when he used to run a hedge fund and how HE HIMSELF used to try and manipulate the markets. Funny how he calls Bob Pisani a tool and now hes his "co-worker" on CNBC.

I've seen that Cramer piece and its crazy. I have a few rebuttals.

1) Whether we see the same thing or not, if a stock breaks out on a technical basis, all the tech traders will jump on it thereby fulfilling the prophecy of a breakout stock.

2) Tech trading assumes all of the info is public and that everyone knows everything therefore the chart patterns move based on similar and past chart patterns. It happens over and over again so how can we discount it entirely?

3) Cramer and hedge fund managers have billions to play with. They can actually manipulate and influence stock price movement. Most common investors/traders don't have the funds to move markets.

4) I'm obviously not an expert but it seems most of the tech traders I follow make good money and make it consistently following tech trading guidelines. If they can do it, why can't I if I learn enough?

I'm not disagreeing with you. I was raised on fundamental investing until I learned first hand how the big boys will leave you holding the bag even if your fundamental analysis was 100% correct.

 

[chopchop702]

I've seen that Cramer piece and its crazy. I have a few rebuttals.

1) Whether we see the same thing or not, if a stock breaks out on a technical basis, all the tech traders will jump on it thereby fulfilling the prophecy of a breakout stock.

2) Tech trading assumes all of the info is public and that everyone knows everything therefore the chart patterns move based on similar and past chart patterns. It happens over and over again so how can we discount it entirely?

3) Cramer and hedge fund managers have billions to play with. They can actually manipulate and influence stock price movement. Most common investors/traders don't have the funds to move markets.

4) I'm obviously not an expert but it seems most of the tech traders I follow make good money and make it consistently following tech trading guidelines. If they can do it, why can't I if I learn enough?

I'm not disagreeing with you. I was raised on fundamental investing until I learned first hand how the big boys will leave you holding the bag even if your fundamental analysis was 100% correct.

I said trading "stricly" off technicals is a bad idea.

Dont get me wrong, i'll hope in on a technical trade too. But it has to be in stock that has the fundamentals to back it that I believe in.

I'm not against technicals.

For example, if BAC jumps above 15$ on heavy volume and breaks out to a new high, you be best believe i'll hop on that ride as well.
But thats because i believe in the banks fundamentally because I think that higher interest rates are coming. So they will surely benefit from that and make a lot more $$ off their loans.

Also, be careful who you follow as far as these technical traders go. All these guys are experts "AFTER" the fact. Yeah lets see them timestamp all of their trades as they enter and exit. If their so good, lets see these guys open up their books. You might be surprised how "good" they really are.

In addition, do you use a trading software like fidelity or e-trade? I bet you have seen their classic "chart pattern" recognition software. For example, when their trading software recognizes a "head and shoulders" or "double bottom" pattern and signal it for everyone. Those patterns that they recognize and try to predict the future of the stock price are WRONG more than 65% of the time.

Anyway i'm not saying to totally disregard technicals. I pay attention to them as well. I"m just saying....those charts that people post on a site like "stocktwits" are 90% GARBAGE material and gibberish nonsense.

 

[Ohene]

I said trading "stricly" off technicals is a bad idea.

Dont get me wrong, i'll hope in on a technical trade too. But it has to be in stock that has the fundamentals to back it that I believe in.

exactly how i use it...and what I'm doing with broadcom in the coming weeks