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^^
Peter Lynch: Avoid the hottest stock in the hottest industry.
If you sold 1/2 for a profit yesterday, thank your lucky stars.
The remainder was set to a sell order on open this morning with a price of $1020. If it hadn't triggered, I'd be sitting with the rest of the people at the bottom right now. I was still sleeping when all that happened. I'm completely out and moving on to NVDA. Earnings coming up
And FYI, I didn't buy this when it was considered the "hottest stock." I'd been gathering shares since last August when no one was talking about it.
It was crazy- 1060 before market opened, then down a little bit, then back up, and then cratered.
I still have a small position where I am still up, but wow, I wonder what tomorrow will bring.
Stop loss orders are terrible tools when tens or hundreds of thousands of traders are using them. Once they start to trigger they can result in an avalanche, which is what I think we saw today. It’s yet another risk in a feeding frenzy like this.
Last edited by treasurekidd; 02-16-2024 at 05:06 PM..
Stop loss orders are terrible tools when tens or hundreds of thousands of traders are using them. Once they start to trigger they can result in an avalanche, which is what I think we saw today. It’s yet another risk in a feeding frenzy like this.
Maybe those others were thinking the same way as me. I looked at the options calendar yesterday and didn't see any calls for today over $1,000 and the puts were coming in at the low to mid $800s so I figured it was going to drop. I like the stop-loss tool. It gives me a little piece of mind to know I won't lose everything. It worked jim dandy this morning.
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I'm completely out and moving on to NVDA. Earnings coming up 
