Respect the Channel: Fade the Discord Darling
Any discussion of PLTR is full of rosy but vague fundamental projections that will supposedly take this thing to $60+. Retail investors are pouring their life savings into it (one guy on Discord was talking about putting his whole 401(K) into 2023 LEAPS).
Retail investors do NOT have a good track record in the stock market, and reality is already reasserting itself with these retail darlings. When you hear normies talking about a stock, it's probably a good idea to look into fading it long term (this is in contrast to Bitcoin - it lives in both worlds - normies call it "fake internet money" during accumulation periods - yet get crazy about buying in during distribution. This is only the 3rd time I've seen it happen).
Respect the downward channel and target the lower bounds ($15-16 before reassessing). Trend following has a fantastic success rate over the long term; just limit your risk, and you're good (my bear tracking portfolio is up 7% since its inception March 12 despite SPY melt up; one can only imagine the returns when SPY melts down).
Retail investors do NOT have a good track record in the stock market, and reality is already reasserting itself with these retail darlings. When you hear normies talking about a stock, it's probably a good idea to look into fading it long term (this is in contrast to Bitcoin - it lives in both worlds - normies call it "fake internet money" during accumulation periods - yet get crazy about buying in during distribution. This is only the 3rd time I've seen it happen).
Respect the downward channel and target the lower bounds ($15-16 before reassessing). Trend following has a fantastic success rate over the long term; just limit your risk, and you're good (my bear tracking portfolio is up 7% since its inception March 12 despite SPY melt up; one can only imagine the returns when SPY melts down).
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