Manipulation everywhere.
Stock 1: PLS.ASX
So what has happened here is a very harsh cool-down of the bull run. On last Wednesday it opened with a large gap down. That means even a stop-loss would not have worked, I got the news the night before to get out, but I could not close the trade until next day open. So I took the bite and stayed with the bet. What could be seen here is an orchestrated way for shorters to get out of the stock, because the short quote is quite high and the news of the last weeks didn’t show any way of the stock price to decline at all in the future. Then what did wall street shorters do? They spread the rumor that big mines would open again “soon”. That is impossible. Chinese government closed the mines. They will not open them again “soon”. But that “news” was enough to bring panic to retail investors, who all sold the stock, while institutional investors bought the stock. It’s all announced, very clear path for the stock to rise again. I will be stubborn and stay with the bet.
Stock 2: PLTR
I am out.
The trading company (IG) automatically closed my trades, because my margin cover fell below 50% of my capital (I’ve got a margin call). If PLS was not manipulated as well, I would still be alive here. I have still no idea how this worthless stock can have another price rise to $171. It makes absolutely no sense and there can be only one reason. Tricks. That means e.g. easy money by easy loans and online manipulation. It also means the money policy of banks is again nearby the 2008 crash. I saw that and kept my bet open, but the price rise was too strong.
I recently read a book by Gary Stevenson, where he stated his very simple trading rules.
1. Be right at the end. (I am 100% sure about it)
2. Be alive at the end. (I am dead here)
The thing is, the higher worthless stocks will grow, the bigger is the crash later. The feeling to be right and still got wiped out, is just super annoying. But I think that must be a traders life. Many who are right with this stock already got this experience. Good that it is not my main job and I only “lost” around $900 here. Others lost millions. 😉
Stock 3: TSLA
When I wrote last week that this stock should fall, because it’s not selling enough cars, I underestimated what the biggest scammer in the world is able to do. This price rise of TSLA, same as PLTR is ridiculous. But the reason is the same. When worthless stocks rise while the economy is crashing, these stocks will crash as well, just later. And hell stock owners want to get out with a profit, so the price is first manipulated upwards. Well, I am trying to keep this bet open. I give it a 60% chance to fall next week, when the FED is lowering interest rates or not lowering interest rates. Sellers need only any bigger event to call a reason to sell it now. The western worlds car industry is in the toilet, so stocks of car companies should be too.
Numbers
So here are the numbers of week 10.
The profit is down at around 5% (€2063 – €1950 / €1950). I am back to almost zero and “lost” about €2800 this week. It’s hard to win when markets are rigged.