What Did You Buy Today?

[kblake]

(05-12-2021, 11:56 AM)divmenow Wrote:

(05-12-2021, 11:02 AM)fenders53 Wrote: Added a little more QQQ and AVGO.  Decent sized starter position in PENN.  I'll add some DKNG when the falling knife act subsides.  Some of my sin stock tobacco money is headed to gambling but gradually.  Added some ARRY while it is getting destroyed today.  May nibble a bit more solar today.  I have a ways to go to fill that sector and now seems like an OK time to add while the reality of increased costs is settling in.

I will start to nibble on PENN at $45. No support until then. No reason to jump in yet. The shorts and hedge funds aren’t anywhere close to being done. And why would they. And all those margin calls will continue to be a burden. Cathie Wood sold most of her DKNG today at a big loss. All these so called experts are clueless.  They are no longer buying good companies. They bought the hype and now they have to sell those names to cover there losses thus putting more presume on the tech sector. SOXL may go under $10.  The correction has started. You have big down days, followed by a rally and then relentless selling again.  Put your money under your mattress for safe keeping lol 

Let’s not forget most people are cashing out now because they don’t want to pay those hefty capital gains hit. People are once again going to lose hope and the market will go down the tubes. This is a fear by most and it’s real.

I bought UVXY and bought some puts.

You may be right about the capital gain tax. I have a feeling a lot of people don't want to pay those penalties. Maybe they all decided to buy properties or rentals? 

I think we have a ways to go on the downside as well. Just wish I had waited to buy some of those names