As another aside, a friend of my brother's bought 100 GameStop shares at USD380 thinking it was a sure bet. He still hasn't sold as he's trying to decide what to do...
I'm very proud of my gains in the squeeze. I purchased a grand total of one share of AMC for $6 then sold it for $20 the next morning. I've now retired as a successful swing trader, currently writing a book and a training course - watch. this. space.
Quote from: Coops_13 on February 02, 2021, 08:05:16 pmI'm very proud of my gains in the squeeze. I purchased a grand total of one share of AMC for $6 then sold it for $20 the next morning. I've now retired as a successful swing trader, currently writing a book and a training course - watch. this. space.That must have netted you a whole one and a half beers in Denver (or am I out of date?)
Nothing immediate to add, but I saw this recently which was quite amusing:https://www.personalfinanceclub.com/time-the-market-game/
Right, so, the big crash is coming, right?I'm seriously considering cashing my my returns from this year, and getting back in after a slump. I can cope with "missing gains".So, what are the risk of this strategy:If it sits as cash too long, it'll be eroded by inflation.[1] I get it wrong, there is no crash - see point 1 above - that's just "missed gains", whatever...I've "missed £4k of ETH "GAINZ" this year, pretty much over it. Any more?I'm happy enough with "riding out a dip" as I have no need for the cash short term but with all the shit going on in the world, I do feel it could be a long, protracted flatline....1- would it be worth hedging against inflation? I guess metals are the usual hedges?
I stupidly sold mine as soon as I'd made half decent gains and missed most of the current run.
From the two previous big BTC bull runs I'd suggest if/ when it does correct it will not be long before it is back down below $20k and $12k would not be unlikely, followed by a fairly long (18 months period) of fairly stagnant fluctuations ~$20k before another big run to >$100k. But yeah there's a good chance of a brief bounce if you've got the time to watch carefully and move fast. Having sat through the last long stagnant period I stupidly sold mine as soon as I'd made half decent gains and missed most of the current run.The question is when or if, as some predict, it drops the volatility and becomes the safe haven when the wider market crashes. I don't think we are there yet but am no expert. Taleb tweeted last week that he'd sold all his because the ongoing volatility suggests the experiment has failed. (Or having got out near the top he wanted to help it crash.)
Haha - people have been trying to find cycles in stocks since they were invented (cycles or stocks!) :DBon chance... I'm off to look at my tea leaves, statistically the same