All All right, all you savvy traders, PICK THIS APART. Cock n' bull stories, rationalization. forecasting the non-existent future, red flags etc. Pick it apart.
Here is what the Nasdaq website itself said:- "Landing a new contract at Torchy's is certainly a bullish development, and increasing adoption highlights the value and potential of SoundHound's software. On the other hand, bridging its conversational AI ordering software to 130 new restaurant locations is not the kind of announcement that would normally be expected to power such explosive share price gains. While the stock could continue rocketing higher on meme-powered momentum, the recent gains raise some significant valuation concerns -- and there's a good chance the stock will be highly volatile in the near term." https://www.nasdaq.com/articles/why-soundhound-ai-stock-skyrocketing-today
Well that's your cock n' bull story, but you buy PRICE. You sell PRICE. Charming as I may be the tax man only cares about the difference between entry and exit. He won't "buy" stories. "He"??? Actually an over-weight stupid, loud, black woman with adding machine in Ogden UT. At Christmas, she proudly tells the relatives "I works da younighted states gubment" Let's get down to business. The ax accumulated inventory from mid'22 until early this year then distributed on high volume. . Since, the GREEN LINE, hasn't been a long accumulation on low volume. Not sure his coffers are full. Nevertheless, a breakout. 80% until overhead supply is all GONE. How many bag holders have been stubborn for 2+ years? Wouldn't think many. Furthermore, SOUN was not IPO is was a SPAC. And............the initial downslide was on nothing volume. That may mean bag holders lurking. Or they sold on the early 2024 rally. Can't discern which. The ax knows. He has the luxury of his book of open orders. Chime in.
You have been sleeping for weeks. You missed the boat to buy SOUND. Next time make sure you don't oversleep. Other people's trade plan: buy low, sell high Your trade plan: buy higher, sell even higher So far there are 2 beautiful mountain peaks at May 2022 Mar 2024 When is the next mountain peak?
THIRTEEN THOUSAND posts? You can't even get the ticker right? "when" is the future. It does NOT exist. The ever evolving moment of "now". It unfolds. My interest is making money. Fish from the river. I come elite trader for entertainment. Once in a great while receive a tid bit of useful info. It's what I'm seeking. This isn't it and I haven't missed anything. That is. until someone points out WHAT I've truly missed.
If buy higher sell even higher works for SOUND and for you, do not change your strategy. Do not be influenced by others. Do note that different people trade differently. So don't look at how other people trade. Do not attempt to learn from others. What you can do is that after you have created a new thread, ask the administrator to LOCK the thread immediately. If not, you are going to get different views/opinions.
Sorry to hurt your eggshell fragile ego. Trading plan????? You can control position size, your actual entry and if filled, where to draw the line south in the form of stop loss. Which is tentative since it can be gapped through. Hard stops telegraph where you are and your intent. Beyond that, its the whim of the market as reflected by the myriad of different participants with the primary one being...............the ax. There is NO plan. It unfolds. The future does not exist. There's no reason to create new thread. Once again. the ticker is SOUN. The company is Sound Hound. Correlated but NOT one in the same. This stock is in the realm of the market maker. The tip of his iceberg is he pockets the spread on each and every fill (before overhead). 189 million shares filled today. Also has two inventory postures. A core and trading one. Core is compliance. Oh, I'm in at $6.12 (55 day high) on 10/28 with correct position size relative to capital. Had a little draw down. Just a fond memory. Wondering how many of your THIRTEEN THOUSAND posts are worth a shit. The two I've read aren't.
I got in on this under 5, was going to sell it a few times this year but just held on. Also own BBAI, that too has really started to climb as well. ... As for SOUN stock broke out to historic highs. Want to take profits but may just sell calls against it. When a stock starts moving like this it gets a bit crazy and can easily see a 20 to 30% drop out of no where....
No pain no gain. The money is in the sitting. There's chart resistance to $18. The SPAC. Next to NO volume from that $18 to $2. So I wanna know IF "they're" still there. That would represent latent overhead supply. OR they exited in early 2024. Clears $18, the ingredients for a parabola. As for BBAI, the 100 day ROC exceeds a more robust 200 day at 48%. Personally "overbought" rather than trending. To put that in perspective, SOUN's 200 day rate of change is 253%. That's what thee trend measures. At $2.86, not marginable. Cash only tells me who's in it. Personally, wouldn't even consider. Thanks for your input.