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These miners absolutely exploded this week. MARA went from $10.44 to $26.39 and RIOT went from $16.99 to $26.59. I’m in at $10 and $3.5 respectively and hanging on for dear life. Expecting a bumpy ride ahead!
They are the golden goose that keeps on laying golden eggs every single day. Personal ATM machines!
They are the golden goose that keeps on laying golden eggs every single day. Personal ATM machines!
And they’re both up 9% after hours. Never seen anything like this. Are these two trades my ticket to a million? LONG way to go but a ~$12k investment has turned into ~$70k in two months.
And they’re both up 9% after hours. Never seen anything like this. Are these two trades my ticket to a million? LONG way to go but a ~$12k investment has turned into ~$70k in two months.
And they’re both up 9% after hours. Never seen anything like this. Are these two trades my ticket to a million? LONG way to go but a ~$12k investment has turned into ~$70k in two months.
Hopefully so lol.
I just looked up MARA again and I still have the arrows and lines I drew from last time you asked what does the chart imply. This is why I love chart reading. You know if price action is natural or unnatural. You aren't predicting a fundamental change such as "oh it's up 18% today, okay this is the top, time to go home now" nope, the chart shows perfectly natural behavior, so there is no problem staying the course, there are no violations on the chart to warn the party is over yet. Don't be surprised if another base (rest stop) forms again in the coming week or two. As long as it stays above the 20 day (BLUE line), you can ride the stock as far up as it wants to go with peace of mind knowing that... okay it could go down to the 20 day, I won't be shocked if that happens and if it does go below, well it's been a heck of a ride and exit in style.
I just looked up MARA again and I still have the arrows and lines I drew from last time you asked what does the chart imply. This is why I love chart reading. You know if price action is natural or unnatural. You aren't predicting a fundamental change such as "oh it's up 18% today, okay this is the top, time to go home now" nope, the chart shows perfectly natural behavior, so there is no problem staying the course, there are no violations on the chart to warn the party is over yet. Don't be surprised if another base (rest stop) forms again in the coming week or two. As long as it stays above the 20 day (BLUE line), you can ride the stock as far up as it wants to go with peace of mind knowing that... okay it could go down to the 20 day, I won't be shocked if that happens and if it does go below, well it's been a heck of a ride and exit in style.
Does the same hold true for RIOT’s chart? I have 4x as many shares there.
Does the same hold true for RIOT’s chart? I have 4x as many shares there.
RIOT just looks like a rocket to be honest lol not much to work with other than it's going to the moon! If you are trying to protect profits without preemptively selling you have two options... well I should say if I were in your position, I would view that I have two good options...
1) Sell if it looks like it will close below the 8-EMA (pink line). It's basically found support there since this move began. It only closed below it twice, when it was basing 12/9 and 12/11. This could knock you out and it just continue higher like it did after these two days. You'd want to wait until 3:50 PM though, this you definitely would want to know it will close below it because it has crossed below, but closed higher on numerous occasions.
2) It has never crossed below the 20 day (blue line) since this move began. This would be the better option if you are okay with giving up some of these gains in a worse case scenario where it free falls one day.... most likely it would just drift sideways or slightly downwards until they meet, so most likely you won't take a 45% hit or whatever the difference is from current price. With your kind of profit cushion, this would be the option I'd take personally.
...or you could do both... sell half position close below 8-EMA, sell the remainder half close or cross below 20 day.
RIOT just looks like a rocket to be honest lol not much to work with other than it's going to the moon! If you are trying to protect profits without preemptively selling you have two options... well I should say if I were in your position, I would view that I have two good options...
1) Sell if it looks like it will close below the 8-EMA (pink line). It's basically found support there since this move began. It only closed below it twice, when it was basing 12/9 and 12/11. This could knock you out and it just continue higher like it did after these two days. You'd want to wait until 3:50 PM though, this you definitely would want to know it will close below it because it has crossed below, but closed higher on numerous occasions.
2) It has never crossed below the 20 day (blue line) since this move began. This would be the better option if you are okay with giving up some of these gains in a worse case scenario where it free falls one day.... most likely it would just drift sideways or slightly downwards until they meet, so most likely you won't take a 45% hit or whatever the difference is from current price. With your kind of profit cushion, this would be the option I'd take personally.
...or you could do both... sell half position close below 8-EMA, sell the remainder half close or cross below 20 day.
Interesting. I’m usually very conservative but in this case I like option 2 because I feel the miners are still undervalued even after this recent run. Thanks!
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