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re: Could someone with just $1000 take advantage of this downturn through stock trading?

Posted on 3/12/20 at 9:59 am to
Posted by mouton
Savannah,Ga
Member since Aug 2006
28276 posts
Posted on 3/12/20 at 9:59 am to
I am a newbie myself.
Posted by ColoradoAg03
Denver, CO
Member since Oct 2012
6534 posts
Posted on 3/12/20 at 10:01 am to
quote:

this is just for trying to make some extra cash and not really part of my long term strategy


Same. The $2k+ I'm playing with is barely more than what I would budget for all expenses for a weekend in Vegas. This has a lot more financial upside than Vegas
This post was edited on 3/12/20 at 2:40 pm
Posted by jmarto1
Houma, LA/ Las Vegas, NV
Member since Mar 2008
37742 posts
Posted on 3/12/20 at 10:05 am to
Who knows but the government announcement is coming. It isn't like these stocks are going to recover in the near future.
Posted by I Love Bama
Alabama
Member since Nov 2007
38420 posts
Posted on 3/12/20 at 10:32 am to
Look at Wall Street Bets on Reddit. There are guys there with 10 million in the bank that started with $1,000

But for every one of those guys, there are 50 who LOST EVERYTHING.
Posted by dltigers3
Collierville, TN
Member since Jun 2010
2195 posts
Posted on 3/12/20 at 1:48 pm to
So how does this breakdown look. I can't invest for 2-3 days so all this could change.

Of my 5k

500- GE
1000-TQQQ
1500-DIS
1000-SPXL
1000- RCL

I plan on keeping these until the market corrects somewhat, so minor day to day changes won't affect me. Any big problems with this strategy?
Posted by Bard
Definitely NOT an admin
Member since Oct 2008
57668 posts
Posted on 3/12/20 at 1:54 pm to
You could easily clean up.

A stock I am looking to pick up tomorrow is PK (a Hilton hotel group stock). It usually trades around $30 and is currently barely staying above $9. You could buy a hundred shares now then sell them when they hit $30 again for a nice little profit.
Posted by dltigers3
Collierville, TN
Member since Jun 2010
2195 posts
Posted on 3/12/20 at 2:06 pm to
I am looking hard at pk also
Posted by Swagga
504
Member since Dec 2009
18389 posts
Posted on 3/12/20 at 2:12 pm to
I got some united airlines stock at 47 thinking this would blow over quickly and it’d be back up.

Think I may have jumped the gun on that deal
Posted by StringedInstruments
Member since Oct 2013
20326 posts
Posted on 3/12/20 at 2:40 pm to
I can’t look at shite until tomorrow since my eTrade account is new and I have a waiting period on my money transfer.

Hate to wish further decimation of the market, but if it could just wait until tomorrow to stop dropping.
Posted by eScott
Member since Oct 2008
11376 posts
Posted on 3/13/20 at 5:54 am to
quote:

I think oil will continue to drop over the next few weeks. That's my opinion right now, ask me again tomorrow.




I covered and went long yesterday evening but chickened out holding overnight. /BZ over 34.44 and holding for now.
Posted by dirtsandwich
AL
Member since May 2016
6350 posts
Posted on 3/13/20 at 6:48 am to
quote:

Is a year considered a long term play? Not looking for “rich quick” scheme but I’d like to make some money for my down payment June 2021.


A year is not reasonably considered long term.

If this is down payment money that you can’t afford to lose, you should reconsider whether to invest in stocks. No one can tell you where this market, or any other market, will be one year from now.
Posted by StringedInstruments
Member since Oct 2013
20326 posts
Posted on 3/13/20 at 7:07 am to
I can afford to lose it. I’ll be pissed if it goes to $0, but it’s not crucial for my plans.

People take advantage of these kind of bear markets and I want to learn how. Seems like there are many investment strategies that I can learn outside of “find a good index fund and hold it 25 years.” I want to try and make money with the market too.

Just don’t know where to start.

Posted by bayoubengals88
LA
Member since Sep 2007
23479 posts
Posted on 3/13/20 at 7:30 am to
quote:

Hate to wish further decimation of the market, but if it could just wait until tomorrow to stop dropping.

If you mean another ten percent, then this is the first time I've ever seen the word decimate actually used correctly. Thanks for making the world a better place, even if incidentally.
Posted by StringedInstruments
Member since Oct 2013
20326 posts
Posted on 3/13/20 at 9:16 am to
Alright here’s what I went with:

$500 into Disney
$250 into Delta
$250 into SPXL

Not expecting much and fully expect to learn from mistakes, but we’ll see how this goes over the next few months. Only one I may fool around with is SPXL but only because decay scares the shite out of me.
Posted by AllDayEveryDay
Nawf Tejas
Member since Jun 2015
9132 posts
Posted on 3/13/20 at 10:03 am to
R/wallstreetsbets is the best place for investment advice.

It's also great if you need to post some capital losses on your taxes for the next 3000 years.
Posted by insuredbybusch
Shreveport
Member since Jun 2017
6 posts
Posted on 3/13/20 at 10:21 am to
Motley Fool Article on where to invest $1K


LINK
Posted by Jag_Warrior
Virginia
Member since May 2015
4292 posts
Posted on 3/13/20 at 11:00 am to
quote:

R/wallstreetsbets is the best place for investment advice.




There was a Chat with Traders interview with a professional day trader (mainly low price, easily manipulated stocks) and they asked him how he did so well (averaged about a million a year in trading profit). His response was basically, trading against/fleecing the YOLO dumbasses on sites like Wallstreetbets. His words, not mine.
Posted by StringedInstruments
Member since Oct 2013
20326 posts
Posted on 3/13/20 at 3:54 pm to
Well the ending today was fun.

Day's gain: $66.37

$42.91 from my $250 SPXL investment.
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