Transcription
Everybody, and welcome back to Stock Likes! I hope everybody had a great New Year and is ready to start off the year with these stocks out here.
Of course, the main one that I'm watching this year, as I did last year, is Palantir. Palantir has been on a kind of hiatus for the last couple of weeks. It's really dropped down from the 181 mark, and it's continuing to drop, but it's trying to base here a little bit.
From a trader's perspective, I really don't care. I'm more focused on the long term with Palantir, and I think a lot of you guys are too. I'm still doing my daily DCA, just consolidating a little bit into taking some of my winners that I have. I just keep funding that DCA on a daily basis, and that's my plan.
In a way, you guys can also do what I'm doing. Some of my stuff, I'm really double DCA-ing when it's dropping like this. I mean, if it goes down to 50, just keep DCA-ing. That's why I'm not really worried about Palantir in the long term. I'm thinking about the long-term future because a lot of people, like myself and others out there, have made mistakes of not sticking to their cards.
You have a good company like Palantir that could be the next Microsoft, and you don't want to worry about it. You shouldn't lose sleep over these drops; you should think of them as a blessing in disguise, as you're getting Palantir at a cheaper price.
I think one of the main reasons for the market sell-off is that it's dropping. Then, Cathie Wood, I would say, sold around 15 million, but who knows? It could be just what she's doing for the beginning of the year. A lot of times, she'll move in and out of different stocks, but that's just what she does.
She could sell 15 million, and a lot of those big financial gurus, they move in and out and add money here and there. They have to allocate a certain amount, like hedge fund managers. I couldn't think of a name, but they move money in and out. They may have to allocate something for one stock, like Palantir, and then switch it back.
There are a lot of reasons why they sell; it doesn't mean the company's bad or anything like that. That's just how they run things. But right now, I'm just continuing to DCA into Palantir, not losing sleep over it.
Yeah, I know that I'm just a long-term investor here. I've been trying to dabble with day trading here and there, and it's just not really my thing. I'm trying to get better at it, but I have an account with Moomoo. I'm trying to get into it, but I'm really not sure about Moomoo myself, just how great it is.
It's a Chinese company, and I've seen some bad reviews on it. I think the only benefit is that you get the 4 a.m. to 8 p.m. extended hours, which is really good. But other than that, I don't think it's that great.
So, in hindsight, I really wanted to talk about Palantir. I'm saying I wouldn't concern myself and worry if you're a long-term investor. Just think of it as an opportunity to buy more shares in the company.
Like I said, it's still in its infancy. I'm doing my DCA, but I'm not in a hurry to add money to Palantir. I'm just doing whatever, like 10 bucks a day. My job situation is not that great; I'm in between work and all that. So, I'm just consolidating DCA into Palantir, freelancing here and there, taking that money, and putting in like 10 bucks a day.
Before, I was spreading out to three different accounts, which is kind of overboard. I don't think there's any hurry with Palantir, so you can take your time. As long as you can get it under 100 before it turns into something really great, like a Microsoft or a Tesla, I don't know about that, but it could turn into another big winner.
You'll be kicking yourself if you didn't get it at like 68 bucks, and you're worried about the whole 80 to 50 range. It's like, who cares? If you hold it for so long and it goes to 500, what does that $30 difference really matter to you? It's not a big deal compared to the long-term scope of it.
A lot of people say you need 2,000 shares or something like that. I'm still working my way up to just buying shares on a daily basis. If it's a discount like this, consider it a blessing; it's on sale right now.
I don't see anything really negative except for that ARK shedding the investment of 15 million. But like I'm saying, those hedge fund managers always move in and out, so you can't read too much into it.
We'll see; the next catalyst might be the earnings report and all these contracts it's getting. I think they're always going to have something to boost it up, which I believe they will down the road.
I won't bother trading Palantir as a trade; it's not really what it's designed for. It's the company itself that has the potential. There are a lot of gimmicky companies out there, a lot of AI companies, a lot of quantum companies, and all that stuff.
Palantir has a niche name, but they don't have real backing behind it. If they have the AI name or the quantum name, they think that's all it takes, but they don't have anything stable like Palantir has.
Looking at the charts, a lot of them are saying they have different resistance and support levels. I think the first resistance level was 81, the first support was 66, and another one is around 50ish, and then around 40ish.
That's true, but I'm just DCA-ing, and it will all equal out in the end. I'm not trying to time it and worry like some people do. They set a limit at 65 and 50, doing all these fancy things. I think you just buy it every day, average in, average way down, average way up; it all equals out in the end.
Unless you lump-summed it back when it was around 8 bucks, which most of us can't say we did. I remember buying it around 8 and 16, and I was just doing DCA. I guess I should have lapped something more, but I just wasn't sure about everything.
I wasn't sure if this was the way to go about it, but I think DCA allows you to sleep more at night. You're not really worried; it's a slow, steady pace. I realized that with Tesla, I was dumping in. I had to buy 100 shares here, 100 there, 500 there.
If you don't have the patience to stick with it, it doesn't really matter in the end. If you can't stay with the investment for the long term, like the boring people that hold, they're the ones making the big money because they're just locking in and forgetting about it.
With DCA, you're always constantly buying, but you just can't end up trading. That's what I did with Tesla, trading it or having the shares in the wrong account, like a margin account or something stupid.
You need to have patience. Some good things take time, as they say. With Tesla, it took like seven years, and I think I lost patience by the fourth year. There was a big drop, and things happen in life that come up, and you need the money. You make bonehead decisions.
I'm trying not to do that with Palantir this time. I missed a bunch of other ones out there, so I'm just trying to make Palantir the one I'm not going to miss. I hope you are too; that's my plan.
I hope you liked this video. Like and subscribe. I'm not a financial advisor or anything like that. I'm trying to get back out there. It's a good New Year, a rough New Year. I'm still looking for work, and I'll make a video about that.
That's why it makes everything tough to even make videos. The market is all over; a lot of my accounts are skyrocketing or going forex. I'm trading and kind of messing it up there; I'm so rusty.
I'm just dabbling speculatively, but I'm not mixing those accounts in any way whatsoever. That's why I like having split accounts. It's tough not having work, but that's for another video.
If you like this video, like and subscribe. I'm not a financial advisor; it's just my opinion. I'm trying to get back out there to make as many videos as I can since I have the time. I'm going to try to at least get a mic and better lighting.
Alright, I'll see you guys in the next one. Later!