Is the stock market going to tank?

**m2711c** · 07-19-2021, 02:43 PM

dip buying, right?

**skifishbum** · 07-20-2021, 05:41 AM

Originally Posted by BobMc

Closed my BBBY and CCL calls today. I’d sold my CC on BBBY the day it mooned a month ago or so, sold a $28 strike for $500 expiry July 9. I always knew when I sold it quarterly earnings were being released on June 30 and I was hoping for a dip, but if that didn’t happen I was ok with being assigned. I was leaving to go to SFB fish camp the morning earnings were released. Before I left I watched the underlying go up $7.00.

Luckily over the next two trading days and today it fell back down to under $30 for a few minutes today. I was able to buy and close at $199. I was real close to keeping it and seeing if it’d dip below my strike but hit while the iron was hot. Same thing with CCL, sold it for $325 on 5/25 and bought back today at $99. Both of them right around 70%.

I’ve been torn about letting them assign and moving the cash into high dividends, but it’s hard to turn down easy cash selling calls on them. By selling calls twice on each of them I’ve moved my per share cost down pretty well, I’m in my 100 BBBY shares at $2.49/per and my CCL at $9.49/per.

I’ll probably give things a few days to recover on today’s swoons before I sell any more calls. Been doing some reading to figure out the put side to sell low and buy high, be able to take advantages of both bears and bulls.

This whole story kinda plays into Rod’s speculative comment and my reply. Things did happen, it mooned and I could’ve panicked. But with a little patience the other side of the coin came about. If you pay attention and watch shit you should come out ahead over the long run.

so your saying its not drink a box of franzia camp?
priorities

**CovertM** · 07-20-2021, 04:42 PM

Been running autopilot on the funny money account while enjoying summer...YOLO bags are getting heavy! Play account is down 15%+ since 7/1. Have veered away from ThetaGang and started playing more speculative nonsense...Lesson learned! Back to steady premium gains and baby nibbles at runners.

Amazed at the overall market as whole... can't remember the last two day streak of significant red? When everyone is expecting a crash I guess it won't happen

**BobMc** · 07-20-2021, 06:08 PM

I’ve been on a slow burn down over the last couple weeks, down about 9%. Of course it happens when a land parcel we’ve been eyeing came up for sale. We have to liquidate some of my stock account to purchase the land. I have till mid August so I hope it improves and I still have some time to sell covered calls to exit them. Gonna off-load everything I’ve owned for over a year, that should get me about 2/3rds of the way there.

Been wanting to move out of all the non dividend paying positions for a while now, was going to move it all into midstream, now it looks like I’ll be moving it into ground.

**californiagrown** · 07-27-2021, 08:22 AM

Be greedy when others are fearful. So, im gonna continue adding to my BABA position on the way down. Its a bold move, cotton, lets see if it pays off.

The CCP cant just destroy their most profitable and well known tech companies as they try and compete with the Western world's tech giants. can they? CAN THEY!!!!??? WTF?! comeon guys!

**Benny Profane** · 07-27-2021, 08:26 AM

What value does Facebook and Twitter bring to our economy, in the end?

I guess when we get involved in a world war again, since we don't have any manufacturing capabilities left, we can just unleash millions of tweets filled with ironic insults. That'll bring them to their knees.

**dunfree** · 07-27-2021, 08:31 AM

Originally Posted by californiagrown

Be greedy when others are fearful. So, im gonna continue adding to my BABA position on the way down. Its a bold move, cotton, lets see if it pays off.

The CCP cant just destroy their most profitable and well known tech companies as they try and compete with the Western world's tech giants. can they? CAN THEY!!!!??? WTF?! comeon guys!

Lol. They are commies locked in a struggle with evil capitalists, their view of history says they will win.

**406** · 07-27-2021, 08:38 AM

Originally Posted by californiagrown

Be greedy when others are fearful. So, im gonna continue adding to my BABA position on the way down. Its a bold move, cotton, lets see if it pays off.

The CCP cant just destroy their most profitable and well known tech companies as they try and compete with the Western world's tech giants. can they? CAN THEY!!!!??? WTF?! comeon guys!

Why has it been going down? From what I have read, stimulus in China is huge and investing in infrastructure, unlike the US who sends out checks for people to spend on garbage made in China.

**Benny Profane** · 07-27-2021, 08:57 AM

Originally Posted by 406

Why has it been going down? From what I have read, stimulus in China is huge and investing in infrastructure, unlike the US who sends out checks for people to spend on garbage made in China.

Because, who would you invest in any Chinese company that can just vanish by official decree overnight? I just read this morning that Xi and the CCP wanted to abolish for profit private schooling and tutoring in China, which they feel exacerbates inequality, which, it does, of course, so, they did, just with the stroke of a pen. Now it's all non profit. A billionaire was wiped out instantly.

**BobMc** · 07-27-2021, 08:58 PM

China doesn’t seem real keen on financial regulatory issues, until they are. Then when they are, it’s all in. If you’re ok with trusting quarterly financials until you can’t, go for it.

**BobMc** · 07-27-2021, 09:08 PM

I have a little less than a month to cash out 16k or so. Hoping to liquidate my positions in, BBBY, CLB, CCL, BEP, already sold off my NEE (which promptly went up $2.00). Those sales should yield me enough cash while keeping my favorite large dividend holdings.

I’m hoping in a few years I’ll be drinking boxes of my Franzia riverside in my cabin, We’ll see…

**4matic** · 07-27-2021, 09:26 PM

Originally Posted by BobMc

China doesn’t seem real keen on financial regulatory issues, until they are. Then when they are, it’s all in. If you’re ok with trusting quarterly financials until you can’t, go for it.

We have non-gaap and ebitda which are both words for bullshit. Same song different tune.

**rod9301** · 07-27-2021, 10:01 PM

Originally Posted by 4matic

We have non-gaap and ebitda which are both words for bullshit. Same song different tune.

Exactly

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**dunfree** · 07-27-2021, 10:32 PM

Originally Posted by 4matic

We have non-gaap and ebitda which are both words for bullshit. Same song different tune.

lol, no, not at all, but you like fraud.

Originally Posted by BobMc

China doesn’t seem real keen on financial regulatory issues, until they are. Then when they are, it’s all in. If you’re ok with trusting quarterly financials until you can’t, go for it.

it’s nothing about financial regulation. Business exists to serve the party and therefore the state, to make it more powerful, to ensure it survives (it’s now the longest lived communist state). That’s the goal, the role.

**grabtindy** · 07-27-2021, 10:55 PM

I'm far from an expert, but IMO it's less about communism vs capitalism and more about how capitalism can serve the party's goals. The chinese equivalents to Western high-growth tech companies (AMZN/BABA, UBER/DIDI, TSLA/NIO) don't fit the 5 year plan and in hindsight were obviously vulnerable. I think some of those still have significant long term potential as their economy evolves, but "harder" tech like semiconductors, energy storage, AI powered logistics and manufacturing, commercial fintech, etc are probably going to outperform in the next 12-24 months.
https://merics.org/en/short-analysis...ome-superpower

**schuss** · 07-28-2021, 04:51 AM

Baba is bad because it's not a neutral player in the cloud and IP wars. There's no guarantees a party member won't just steal your IP nor infect your product with gov spyware.
You can hate Amazon, Microsoft and Google all you want, but from a cloud hosting and product standpoint, they're only interested in your money (and data, read the fine print of some of the ML apis).
They'll still grow, but only in China aligned markets IMO.

**Benny Profane** · 07-28-2021, 07:42 AM

Another view on China from an expert.

https://www.institutionalinvestor.co...s-Carson-Block

**LeeLau** · 07-28-2021, 09:32 AM

Recovered MRIN fairly big losses by doing the same old sell GME and RIOT covered calls. Also sold RIOT puts when it tanked to 25s. That put me back to flat since July.

Opened and then closed NEGG and IGC short calls. Small positions so not worth really saying much.

Apparently I am a cruise ship bagholder via CCL as none of my sold calls (sold at 30) assigned. Holding out of sheer boredom.

Heading off to hike in the Rockies for 2 weeks so not particularly interested in anything too exciting.

**Benny Profane** · 07-29-2021, 10:36 AM

Jezuz, it's about time these carny barking pump and dumpers are getting charged.

"Federal prosecutors on Thursday filed securities fraud charges against Trevor Milton, the former chief executive of the electric vehicle start-up Nikola, the most prominent case against an executive with a business that listed its shares on the stock exchange through a merger.

An indictment by the U.S. attorney’s office in Manhattan charged Mr. Milton with misleading investors — in particular retail investors — about the technology for battery- and hydrogen-powered vehicles it had hoped to manufacture. In a separate civil case filed on Thursday, the Securities and Exchange Commission also accused Mr. Milton of securities fraud.

Prosecutors and the S.E.C. said that for nearly a year, Mr. Milton used social media, television and podcasts to spread “false and misleading statements regarding Nikola’s product and technology.”

One such misleading statement, the charging document filed by prosecutors said, concerned the company’s Nikola One long-distance truck prototype. The prototype did not work, contrary to the glowing statements Mr. Milton made about it.

Federal prosecutors and securities regulators started investigating Nikola last fall around the time an investment firm published a report questioning its products and some of Mr. Milton’s claims. That firm, Hindenburg Research, said the company had put out a promotional video to suggest it had a working prototype — but never disclosed the truck was moving forward only because it was rolling down a hill in neutral gear. Mr. Milton resigned a few weeks later.

The S.E.C. also noted in its complaint that a Bloomberg News article, published in June 2020, said that Mr. Milton had “exaggerated” the capabilities of its truck.

Yet, Nikola went public in June 2020 in a $700 million merger with a special purpose acquisition company, or SPAC, called VectorIQ. SPACs raise money from investors in the hopes of finding a company with an existing business to buy. Deals with such acquisition companies have become a popular with young, untested businesses, especially those aiming to sell electric vehicles, because merging with them is usually faster, requires fewer disclosures and attracts less scrutiny from investors and regulators than a conventional initial public offering."

**CovertM** · 08-01-2021, 08:05 AM

Here you go 4matic, what you’ve been waiting for. Inverse ARKK

https://www.zerohedge.com/markets/th...-anti-arkk-etf

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**Lawless** · 08-02-2021, 12:55 PM

I closed out most of my calls during the downturn a couple of weeks ago and have had a few short strangles on MARA since. The premiums aren't what they once were, but they aren't too bad either. Currently waiting for some of my big earners to recover before going back to the CC game on them.

**4matic** · 08-02-2021, 03:09 PM

Originally Posted by CovertM

Here you go 4matic, what you’ve been waiting for. Inverse ARKK

https://www.zerohedge.com/markets/th...-anti-arkk-etf

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20% bounce from support. ARKK looks like a sell with stop at $130. Unless you think TSLA is going to a new high. If so I’d step aside.

**4matic** · 08-02-2021, 03:11 PM

Fed gov talking october taper didn’t do much. That’s bullish short term unless more start agreeing.

Fed Governor Waller sees tapering possibly starting in October https://www.cnbc.com/2021/08/02/fed-...pyToPasteboard

**406** · 08-02-2021, 03:47 PM

Picked up some BABA the other day for $182.5 on the hot tip from Benny, looks like my $200 limit sell went though today. Nice 10% gain in less than a week. Should go up to $250 now that I sold :-)

Also picked up some ABNB 7/27, had thought I wasn't going to bite until closer to $100...but had cash in the account doing nothing and figure they should have a good quarter.

Question for those more knowledgeable, I have some PTOI that I just got a message saying "Ahead of the regulatory enforcement date, we will only accept orders to liquidate positions (i.e. no new buy orders) starting August 13, 2021. After the amendment officially goes into effect on September 28, 2021, it may be more difficult to liquidate these securities. Quoting and market liquidity may also be very limited. " It is basically worthless, so never bothered selling, but don't want to get charged any fees, so should I sell?

Also, wtf is going on with GE price?