You have three options:
Sell covered calls even if they’re dog chit and just wait
Sell for a big loss
Walk away for a year. Ded fkn srs
Here’s what happened to me in March.
https://imgur.com/a/25DIHqR
See that peak to trough? That was a real fkn tough pill to swallow, especially if you knew just how much that was that I “lost” in a single week... I did a combo of adapt my trading style and wait to get back to where I am today. Some stuff still hasn’t recovered (looking at you, every single ARK ETF...) but I’m just writing dog chit call after dog chit call on those lol
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05-03-2021, 04:49 PM #91"It won't get better, just different."
“Yeah, that's what the present is. It's a little unsatisfying because life's a little unsatisfying.”
Bring back ****got, ****got .
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05-03-2021, 05:41 PM #92
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05-03-2021, 05:54 PM #93
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05-03-2021, 05:57 PM #94
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05-03-2021, 06:00 PM #95
I would not bet on ARKG rebounding... You need a near 50% increase to breakeven on your loss.
ARK's entire investment model is based on inflows. They don't give a chit about valuations and that's why they predict ridiculous numbers. Inflows is the reason why their funds got so high. Now imagine what happens when inflows inevitably turn to outflows...
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05-03-2021, 06:08 PM #96
- Join Date: Aug 2010
- Location: State / Province, Canada
- Posts: 11,347
- Rep Power: 52653
This.
Year to date arkk funds are down -3 percent. While SP is up 12%.
Maybe they know something that others don't but it sure doesn't look like it, they just keep buying stocks that are going down.
How much phucking COIN do they need.
It also doesn't help that ARK get so much media attention.Last edited by Carbonfibre; 05-03-2021 at 06:19 PM.
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05-03-2021, 06:26 PM #97
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05-03-2021, 06:38 PM #98
I couldn’t see the photo, was blurry on my phone.
Try sticking to 1-3 stocks that you know and also have value long term. Study how they trade somewhat and swing trade them until you build some capital. Doesn’t work so well in this market lol, but it’s how I built enough to actually start being able to make any money in the market. Have to find what works for you.
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05-03-2021, 07:00 PM #99
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05-03-2021, 07:42 PM #100
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05-03-2021, 07:48 PM #101
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05-03-2021, 08:31 PM #102
So anyway, hopefully some of you jumped on the bandwagon of this as it's trading at $7.44.
Here's the fun - They just started drilling 6-1 which is expected to give a better idea of whats underneath but the first well(6-2) showed 660 feet of oil and natural gas indicators which is over 30% more than they expected(400 feet).
The results from well 2 will be in June but CNN just had an article last night on their frontpage about RECAF. I'd put in about 50% now and average down if it drops to the 6 range, strong support was around $5 last time.
Their initial research was based on 120 billion barrels from 12% of the land they own in Namibia but 660ft should be between 150-200 billion barrels. Of course this is not all recoverable but even if they can recover 20, that would shoot the stock over three digits over the years.
Still a bit of a gamble but risk has been severely lowered since the first holes successful results.
There's been wild speculations from $24 in the near future to four digit prices in 5-10 years but I just like the stock.
Because they are going to acquire Renaissance Oil (RNSFF) at 0.046 conversion rate, it's better to buy this one in OTC markets if you have access as the merge ratio favours Renaissance Oil currently but in a couple of years it won't really matter.
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05-03-2021, 08:36 PM #103
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05-03-2021, 08:39 PM #104
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05-03-2021, 09:18 PM #105
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05-03-2021, 09:53 PM #106
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05-04-2021, 12:09 AM #107
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05-04-2021, 01:25 AM #108
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05-04-2021, 02:59 AM #109
- Join Date: Sep 2007
- Location: Rhode Island, United States
- Posts: 10,018
- Rep Power: 33287
I did the same mistake (I'm still new to this) but I focused on getting ONE stock out the hole at a time - like other have said, focus 2-5 stocks tops cause more than that is hard to manage.
also imo don't be afraid to lose a few $$$ if that give you flexibility to get in a better investment - for example I lost a chunk of $$ with MARA but then I moved the $$ into ETH and recovered the lost money pretty fast.
again, still learning but that is what worked for me."Paper money is going away" - EM
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05-04-2021, 03:37 AM #110
Good thing is I have plenty of money in my actual bank account. I don’t need this money so if it just sat that wouldn’t hurt me either. It’s more of a “I just messed up” thing I want to fix.
I noticed ARKf drops to about 49-50 then goes back to 55-56ish. I could just buy 50 shares today and average down. Then sell when it goes back up.
Each stock I’m down in “significantly” does this. I could get out like that, but it just makes me nervous because it seems as soon as I buy things crash. Like I’m cursed.There is no they…
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05-04-2021, 04:22 AM #111
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05-04-2021, 04:57 AM #112
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05-04-2021, 05:01 AM #113
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05-04-2021, 05:25 AM #114
- Join Date: Dec 2007
- Location: Littleton, Colorado, United States
- Age: 56
- Posts: 26,104
- Rep Power: 250233
Looking like it's going to be a rough day. Things can change, but lots of red pre-market.
Stay safe, boyos.*MFC Elder Statesmen Cabinet Crew*
**Distal Bicep Rupture Crew (Feb 2013)** -- recovery log: http://forum.bodybuilding.com/showthread.php?t=151942933
**Extreme Dips Crew** - http://forum.bodybuilding.com/showthread.php?t=136113651
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05-04-2021, 05:27 AM #115
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05-04-2021, 05:35 AM #116
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05-04-2021, 05:40 AM #117
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05-04-2021, 05:49 AM #118
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05-04-2021, 05:51 AM #119
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05-04-2021, 05:56 AM #120
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