No. of Recommendations: 12
Crazy, crazy market.
Been watching momentum stocks going down and down, while the timing signals are still solid on buy/hold. Very painful to watch every day.
Then today: AMD +15%, MU +16%, SNDK +23%(!!!), MSFT +15%, INTC +13%
Last market day of the month. Are the active funds cooking up their balance sheets? But it's not the end of a quarter.
I've been watching SPCX with amusement. Learned my lesson about IPOs a long time ago. The algorithms are pushing articles and videos about SPCX to me. Many saying to buy it. Not buying the stories.
Big lockup cliff coming, another 912 MILLION shares unlock next week and then smaller lockups unlock every 2-3 weeks for the next couple of months. Then bigger unlocks thru the rest of the year.
I wouldn't touch it with a 10 foot pole.
But then one guy (on youtube) predicts it will go up bigtime -- in the long term. Like MSFT & AMZN did after they crashed to near zero. He predicts that it will bottom maybe as low as 65.
So I thought, what the heck, so I put in a GTC limit order for 75.01 and another at 65.01. In a margin account, so it doesn't effect any cash. If/when I get a fill I'll sell something else to cover it.
Why not exactly 75 and 65? Because most limit orders are on a round number and your order can get lost in the crowd.
No hurry. And definitely not Mechanical.