Probably a decade ago a post like this would've made me seem like an idiot, but I think in todays retail trading climate it makes sense.
I've been trading now for about 3 years. My strategy in the beginning was spending dozens of hours learning how to read TA charts and learning how to recongize technical patterns. Unsurprisingly when I tried to put these strategies into effect on live trading charts I wasnt very successful and ended up losing a lot of money.
Recently (probably in the last 6 months) I've switched up my strategy. I no longer read technical charts, I now read sentiment analysis trends.
I've had infinitely more success studying trends in sentiment surrounding various tickers on websites like this one and stocktwits. People meme about how big money is basically inversing popular picks on these sites but from what I've seen that simply isnt the case.
The most recent symbol to catch my eye in this regard was $PLTR.
$PLTR has been steadily rising in mention count on both stocktwits and reddit over the last 30 days and whats more is how overwhelmingly POSITIVE the sentiment is.
In my experience the sentiment and mention volume alone is not what ends up driving the price up by itself, what happens usually is a healthy combination of good mention volume and good mention sentiment COMBINED with even the smallest catalyst makes the price go boom.
In the last 30 days PLTR has been mentioned >1000 times on reddit with an OVERWHELMING sentiment of 61% BULLISH. No other high market cap ticker has sentiment even close to this, you can look around on sites like the one I linked below and see for yourself. Most are deadlocked around 50 percent or skew more bearish.
TLDR: This stock needs a tiny catalyst and its price is going to explode. My argument is not reliant on a significant positive catalyst but actually just any minor good news because when a stock has this much positive chatter online, any good press is going to be published just about everywhere.
References: This site uses ChatGPT to measure the sentiment of reddit mentions, here's $PLTR's page -> https://monkeemath.com/pages/advancedData?symbol=PLTR
My positions: I currently own ~$5000 in PLTR shares at an average price of $17.97
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