MARKETS,Anybody even yet?

[dinghy]

Just in the last six months, one could have traded Prudential at least 4 times making 10-15 percent on each trade.

How do you know where the tops and bottoms are if they haven't happened yet?

[advantage playe]

I read 90% or so of day traders lose money in the long run. I engaged a bit and am part of the 90% ! If u know any of the 10% let me know so I can buy there book when it comes out !! LOL !!!

[dinghy]

I read 90% or so of day traders lose money in the long run. I engaged a bit and am part of the 90% !

What were your big mistakes?

I'd guess the major hazard is frictional cost of trading. I'm accustomed now to free commissions and tight bid-ask spreads on large-cap stocks and popular ETFs, but costs can be much higher to trade obscure stocks or options or Forex. Margin fees can be really significant if you use leverage or go short.

I trade somewhat frequently, but rarely have the inclination to do an intraday round trip. My viewpoint on a stock isn't going to change from buy to sell within a few hours' time.

[olds442jetaway]

On a good stock like Prudential, I just wait for a 10 percent or so drop. I collect 4.5 percent divs while I wait. As soon as its up 10 percent, I’m out. Never hit the top or bottom at least not so far. Never did that well with day trading. Got burned by fraud on some major stocks that were the pride of wall street. US Surgical was one. A big one too. On that one, I took out a life insurance policy for the Mrs to cover the loss. I don’t particularly like whole life policies, but at least now 30 years later the cash value is worth more than paid in premiums. Also a bit of a bonus in that that loss offset all my gains on other stuff and then some so Uncle Sam paid over time for 15-20 percent of my loss. I took at least 4 hits due to corporate fraud. None as big as the above though. What is going to happen now to the market and the world is anyone’s guess. From here on out, I will if anything be doing ETFs and dividend plays. No junk. Missed the boat on some great ones by bailing when making just a few bucks. Apple and IBM in the 90s come to mind

[dinghy]

On a good stock like Prudential, I just wait for a 10 percent or so drop. I collect 4.5 percent divs while I wait. As soon as its up 10 percent, I’m out.

Missed the boat on some great ones by bailing when making just a few bucks.

That's the risk. For the last year or so, PRU has helpfully stayed within a trading range between 100 or 120 or so. But the previous 12 months, it did a rip-your-face-off rally from the 30s to over 100.

Got burned by fraud on some major stocks that were the pride of wall street. US Surgical was one. A big one too.

USS had the accounting scandal around 1980, looks like. The stock actually recovered to trade above 100 in the early 90s, but then rolled over again and was eventually taken out by Tyco.

Good to know the SEC actually does its job occasionally.

[FAA]

Firm dragged their feet by about 30 days. But at least I see the road map. I just hope it’s not the road to ruin.

[olds442jetaway]

Uncharted waters this time! Mainly from world events and the possibilities! Can’t discount Covid either. I think it was the CEO of Intel who was just on the radio. Doesn’t expect the chip situatioon to be resolved until 2024. Didn’t give any other details on the radio snipit.

[FAA]

No investment there, but I’m swimming in tech and semiconductors.

[dinghy]

I think it was the CEO of Intel who was just on the radio.

You mentioned your pattern of PRU buys near 100. Look at the INTC chart:



Since 2018, the 43 level has been rock-solid support, and the stock is again down near the lows. News says latest earnings were above estimates, but guidance was disappointing.

I'm considering it. Profitable company, low debt. Unpopular. I think it could rebound again without anyone noticing or caring.

Edit: Also consistent dividends, a little over 3% currently.

[olds442jetaway]

Now I’m confused pru is at 106. Ok got it. We are looking at Intel!!!! Yes 3.3 div for Intel. I have traded it over the years a few times. Never lost on it. I will wait and see if it holds support. I don’t mind giving up 5 percent to the upside. I like the p/e. I may do 75 percent pru and 25 percent Intc. I like it.