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Hey Nerds: Blockchain

Solid day here --- but could have been great if I just stuck to my guns. I suspected the bulls were due for a strong close but I just wasn't patient enough. Was trying to protect gains in individual names more than anything.
 
Week was on insanely low volume but we set our higher low after flawless consolidation and are grinding up to recent highs. Less than 1% away! Chart and general action continues to be bullish as fuck but this weeks' volume has me keeping a close eye on things for the first time since March.

Man dating back to March it has just been an absolutely beautiful looking grind up with nice healthy consolidation every time we approach overbought territory. Kind of textbook action to the point where if you follow TA religiously you'd do quite well playing these swings.
 
It's been an historic grind up....too many folks (me, LOF, almost everyone on the planet) were making shopping lists, looking for bargains on our favourite names.

Of course, the market did not oblige, so everyone scrambled to get back in.

It all feels like ages ago, but we still have almost 7 months to go in 2020.
 
Yeah I've been passive in my degenerate account for a couple weeks now after going heavy earlier but the moves I'm happiest with came in my longs. I bought a few VTI significant tranches on my long accounts on the grind down that I'm already up about 30% on. I had cash available in case of another leg down but it never came. Or at least hasn't... Yet.
 
There is nothing scarier than buying in the face of absolutely terrifying levels of fear. Sometimes they don't work out (hello GUSH) but those are often the most profitable trades/decisions anyone makes. If it was easy and every decision was obvious (i.e. pandemic = stonks go down) everyone would make money in the stock market. That's not how it works.
 
We could easily see more chop and grind up to 3000. Not going to take the bears seriously until they can crack 2880 (previous resistance multiple times)
 
Preston said:
There is nothing scarier than buying in the face of absolutely terrifying levels of fear. Sometimes they don't work out (hello GUSH) but those are often the most profitable trades/decisions anyone makes. If it was easy and every decision was obvious (i.e. pandemic = stonks go down) everyone would make money in the stock market. That's not how it works.
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the reversal might play out at some point (economy open = stonks go to the moon). Not that easy.
 
There's an options trader that my buddy follows who has a subscription service that is very pricy. He subscribes to it.he does not use any ta - his philosophy is that news drives the market. He did exceptionally well in the bull market because in general news is a decent indicator depending on what it is.

Problem is he hasn't adjusted his philosophy in these turbulent times. His Twitter account is pretty funny.. he just pumps himself up while the replies point out that he has been horribly wrong about everything for months. Dude has taken a real big hit like a lot of fintwit. You really need to block out the noise right now and follow the charts/price action/the general trend. TA has been everything during this run.
 
I haven't seen him much in my feed; now I know why. lol.

He was exposed a long time ago by @guruleaks. I was suspicious when I saw all these ringing endorsements from accounts that have 6 followers.
 
But according to his screengrabs, he's regularly bagging 75K to 150K per options trade
 
CH1 said:
But according to his screengrabs, he's regularly bagging 75K to 150K per options trade
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Yeah he did quite well in the bull market. Friend would send me screenshots of his private subscription Twitter account. He can't speak English but he pulled in some good money and made some good calls pretty consistently.

But his work since the initial dump has been ugly. He doesn't talk about his losses though of course. His followers just kind of know when his plays turn out poorly.

And yeah, he's got money.
 
Preston said:
Yeah he did quite well in the bull market. Friend would send me screenshots of his private subscription Twitter account. He can't speak English but he pulled in some good money and made some good calls pretty consistently.

But his work since the initial dump has been ugly. He doesn't talk about his losses though of course. His followers just kind of know when his plays turn out poorly.

And yeah, he's got money.
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he can speak; just can't spell or type...I watched one of his vids years ago. It was hilarious and self delusional....I think it's the one that's pinned to his twitter account.
 
I got into it once with him over Disney+. His argument is that nobody is going to pay to watch old disney content, was going to be a massive flop, etc.

Well, they have 55 million subs in a couple of months
 
Heh you should remind him about that debate. Much like his losses, he won't acknowledge it obviously but maybe it'll teach him to not be so fucking condescending.
 
Preston said:
Heh you should remind him about that debate. Much like his losses, he won't acknowledge it obviously but maybe it'll teach him to not be so fucking condescending.
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nah. That guy’s delusion level is in the Tiger King - Trump range. Probably blocked ME by now.
 
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