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  1. #14676
    Join Date
    Mar 2006
    Posts
    17,757
    Nine trading days till quarterly expiration.

  2. #14677
    Join Date
    Feb 2005
    Location
    North Vancouver/Whistler
    Posts
    12,741
    Quote Originally Posted by CovertM View Post
    Like when I bought & sold SPRT $17, $18, $30 calls all week as day trades. Sold a bucket of $30c yesterday before close for $3.5, bought for $1.2. Woke up today to them selling for $20-$30 throughout the mayhem today. Fu Kung sentiment is right!


    Sent from my iPhone using Tapatalk
    Markets are so entertaining. I sold a metric buttload of SPRT 39C naked as it went from 30 to 55. The next week I was going to establish a bear call spread by buying long calls as SPRT market makers put higher priced calls in place. But the underlying tanked hard so fast that I haven't bothered. Still short the calls.

    Still long GME. Ditto RIOT and collecting money from it. A bit disappointed they're filing yet another share offering which is a drag on the stock. MARA is def kicking its ass.

    Still short NKLA and WKHS also. Covered RiDE

  3. #14678
    Join Date
    Nov 2002
    Location
    Cloud City
    Posts
    7,798
    Quote Originally Posted by LeeLau View Post
    Markets are so entertaining. I sold a metric buttload of SPRT 39C naked as it went from 30 to 55. The next week I was going to establish a bear call spread by buying long calls as SPRT market makers put higher priced calls in place. But the underlying tanked hard so fast that I haven't bothered. Still short the calls.

    Still long GME. Ditto RIOT and collecting money from it. A bit disappointed they're filing yet another share offering which is a drag on the stock. MARA is def kicking its ass.

    Still short NKLA and WKHS also. Covered RiDE
    Are you saying you are long memes and bitcoin mining? Be still my beating heart!

    Talk to me about ARK
    Live each season as it passes; breathe the air, drink the drink, taste the fruit, and resign yourself to the influences of each.
    Henry David Thoreau

  4. #14679
    Join Date
    Oct 2003
    Location
    Big in Japan
    Posts
    48,733
    https://awealthofcommonsense.com/202...-the-big-long/

    "Itís unreasonable to expect you can earn ridiculous riches in such a short period of time. And yet, so many people in tech and crypto have done just that in recent years.
    This cycle has defied all well-reasoned financial advice.
    Donít chase yield. Donít speculate. Donít invest in something you donít understand. Donít invest in something with no intrinsic value. Donít expect to get rich quickly.
    Certain investors are now so conditioned to see huge gains in a hurry they assume itís the norm.
    Itís not."

    The world is perfect. Appreciate the details.

  5. #14680
    Join Date
    Nov 2002
    Location
    Cloud City
    Posts
    7,798
    -addendum...beware the m2
    Live each season as it passes; breathe the air, drink the drink, taste the fruit, and resign yourself to the influences of each.
    Henry David Thoreau

  6. #14681
    Join Date
    Nov 2010
    Location
    Valley
    Posts
    430
    Quote Originally Posted by shera View Post
    COIN is making another leg up, I might sell some more at resistance $305ish?

    You know it almost looks like a very simple channel, maybe I should trade it? Rebuy level around $250? Any opinions on the chart?
    Did you get to buy the dip on COIN today? Crypto blood bath!

    I was fortunate enough to close quite a few RIOT and MARA calls that I thought were for sure gone during expiry the next two weeks. Will rinse and repeat when Crypto bounces back.

  7. #14682
    Join Date
    Aug 2004
    Location
    New Haven Line heading north
    Posts
    2,879
    Not sure $GME is really trying at this point. 🤷🏻
    Charlie, here comes the deuce. And when you speak of me, speak well.

  8. #14683
    Join Date
    Nov 2002
    Location
    Behind the Zion Curtain
    Posts
    4,093
    CMPS up $2.23 in afterhours, can’t find any chatter on why. I’d lowered my daily bid to sell @$11.01 for the Dec 17 $40 call. Came close to hitting a few times in the last week, I thought hard about giving up that extra $50 cash to sell the call.

    I upped my limit to 12.01 tonight, bet it sells first thing…

    I don’t really care if the underlying goes crazy before the date, I’m still up a decent amount in a short time if that call sells. Even though my mind is mostly on my newly found land I ‘m still tryin’ to hustle this shit.

  9. #14684
    Join Date
    Nov 2002
    Location
    Cloud City
    Posts
    7,798
    Quote Originally Posted by CovertM View Post
    Did you get to buy the dip on COIN today? Crypto blood bath!

    I was fortunate enough to close quite a few RIOT and MARA calls that I thought were for sure gone during expiry the next two weeks. Will rinse and repeat when Crypto bounces back.
    I did not by the dip, I still have too much COIN, would like to sell some above $300 (in good profit) and then think about buying/trading it. But I see a confirmation of the bottom trend line of the channel, so that is interesting. I'll continue to watch.

    As far as "bloodbath", btc went to the price it was at one week prior. Shrug. I'm just bummed it didn't wick a tiny bit lower so I could get some fills. Maybe another leg down, 38k would be marvelous.
    Live each season as it passes; breathe the air, drink the drink, taste the fruit, and resign yourself to the influences of each.
    Henry David Thoreau

  10. #14685
    Join Date
    Nov 2010
    Location
    Valley
    Posts
    430
    Quote Originally Posted by BobMc View Post
    CMPS up $2.23 in afterhours, can’t find any chatter on why. I’d lowered my daily bid to sell @$11.01 for the Dec 17 $40 call. Came close to hitting a few times in the last week, I thought hard about giving up that extra $50 cash to sell the call.

    I upped my limit to 12.01 tonight, bet it sells first thing…

    I don’t really care if the underlying goes crazy before the date, I’m still up a decent amount in a short time if that call sells. Even though my mind is mostly on my newly found land I ‘m still tryin’ to hustle this shit.
    I sold the Nov. $40s today for $9.5 a pop. CB is well under $25 at this point. Wouldn't mind letting some fly away.

  11. #14686
    Join Date
    Mar 2006
    Posts
    17,757
    $COIN chart is a disaster on a gap lower Monday.

  12. #14687
    Join Date
    Mar 2006
    Posts
    17,757
    50% of SP500 stocks are down at least 10% from there high. Russell 2k is 90%. Probably just another rolling correction over after expiration

  13. #14688
    Join Date
    Nov 2002
    Location
    Behind the Zion Curtain
    Posts
    4,093
    I pulled out all my profits to buy my Taylor Flats land. Have a bit of cash still in the account as a lot is looking to fall through.

    Set an order to buy 100 shares of CRLBF at $8.00, it probably won’t fill but I’m going to try. I’m in 58 shares @$10.75, this’ll take my per price down quite a lot. I still like them as one of the best cannabis stocks. Also set an order to grab 100 shares pf BBBY at $23/per. I miss cashing in on options via that.

    I’m looking to build out there in the spring and hope to do it with profit. I got the land for time spent/free, hoping my stock market money will contribute to the rest of it. I’ve realized that in between looking at wells, septics, and cabins I’m going to need to hustle to fund that shit.

  14. #14689
    Join Date
    Feb 2007
    Location
    righthere/rightnow
    Posts
    2,547
    Name:  1E5BB4C9-BF4F-4F22-95AA-17A04A6DBC01.jpeg
Views: 291
Size:  95.7 KB

  15. #14690
    Join Date
    Feb 2005
    Location
    North Vancouver/Whistler
    Posts
    12,741
    Quote Originally Posted by BobMc View Post
    I pulled out all my profits to buy my Taylor Flats land. Have a bit of cash still in the account as a lot is looking to fall through.

    Set an order to buy 100 shares of CRLBF at $8.00, it probably wonít fill but Iím going to try. Iím in 58 shares @$10.75, thisíll take my per price down quite a lot. I still like them as one of the best cannabis stocks. Also set an order to grab 100 shares pf BBBY at $23/per. I miss cashing in on options via that.

    Iím looking to build out there in the spring and hope to do it with profit. I got the land for time spent/free, hoping my stock market money will contribute to the rest of it. Iíve realized that in between looking at wells, septics, and cabins Iím going to need to hustle to fund that shit.
    Well done Bob. You've played this well

  16. #14691
    Join Date
    Mar 2006
    Posts
    17,757

    Is the stock market going to tank?

    Futures are getting hammered after the close. Could just be stops getting run below the low of the day on an expiration Friday. Still less than 3% off the ath
    Last edited by 4matic; 09-17-2021 at 03:50 PM.

  17. #14692
    Join Date
    Dec 2005
    Location
    STL
    Posts
    10,468
    Put a fork in this mkt. wake me when we are down 33% from highs.


    Sent from my iPhone using TGR Forums

  18. #14693
    Join Date
    Mar 2006
    Posts
    17,757
    Name:  IMG_0366.JPG
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  19. #14694
    Join Date
    Mar 2006
    Posts
    17,757
    4373 is the august low on the monthly chart. A trade and close lower on the month would confirm a reversal.

  20. #14695
    Join Date
    Oct 2003
    Location
    Near Perimetr.
    Posts
    3,762
    Evergrande: Lehman Brothers V.2.0?

    Discuss.

    Interesting to see if CCP will allow the company to collapse, start some massive support to contain unrest (1 million customers have lost their money/properties ) or what?
    And interesting to see if BTC lives up to its hype and Chinese start to buy into that big time...or realise their holdings instead.

    I have a hunch that rest of the week will be interesting, afaik Mo/Tue are bank holidays now in China, or?

    The floggings will continue until morale improves.

  21. #14696
    Join Date
    Dec 2008
    Location
    PDX
    Posts
    3,228
    Quote Originally Posted by Meathelmet View Post
    Evergrande: Lehman Brothers V.2.0?

    Discuss.

    Interesting to see if CCP will allow the company to collapse, start some massive support to contain unrest (1 million customers have lost their money/properties ) or what?
    And interesting to see if BTC lives up to its hype and Chinese start to buy into that big time...or realise their holdings instead.

    I have a hunch that rest of the week will be interesting, afaik Mo/Tue are bank holidays now in China, or?
    https://twitter.com/Sooly_Kobayashi/...432348672?s=19

    Sent from my Pixel 4 XL using Tapatalk

  22. #14697
    Join Date
    Nov 2010
    Location
    Valley
    Posts
    430
    Quote Originally Posted by Meathelmet View Post
    Evergrande: Lehman Brothers V.2.0?

    Discuss.

    Interesting to see if CCP will allow the company to collapse, start some massive support to contain unrest (1 million customers have lost their money/properties ) or what?
    And interesting to see if BTC lives up to its hype and Chinese start to buy into that big time...or realise their holdings instead.

    I have a hunch that rest of the week will be interesting, afaik Mo/Tue are bank holidays now in China, or?
    I think CCP lets contagion spread for a bit to other markets before stepping in. Small global disruption is a goal, a la CVID 19...I know put Tin FOIL back on.

  23. #14698
    Join Date
    Mar 2006
    Posts
    17,757

    Is the stock market going to tank?

    CCP has made it clear for a while they want to mitigate leverage and speculation. I doubt they have any sympathy for investors on this one. Their stock market has done nothing for a decade and most stock investors there have only known getting burned.

  24. #14699
    Join Date
    Sep 2006
    Posts
    5,898
    Let's see if Xi decides to go for a slow train wreck, or removes the bridge and lets the train go off the cliff.

    Quote Originally Posted by 4matic View Post
    CCP has made it clear for a while they want to mitigate leverage and speculation. I doubt they have any sympathy for investors on this one. Their stock market has done nothing for a decade and most stock investors there have only known getting burned.
    Further down the line, banks with direct exposure to Evergrande, via the parent company, the property services group or its new energy business, are vulnerable to significant writedowns that could clip lending growth into the broader economy just as data begins to suggest a notable second-half slowdown in the world's biggest economy.

    On top of that, the largest test China may face in an Evergrande collapse is the mettle of President Xi Jinping's 'common prosperity' ambitions and his ongoing effort to reign in corporate profiteering across some of the country's biggest business sectors, including property, which he has famously said must be for "living, not speculating".
    "We don't beat the reaper by living longer, we beat the reaper by living well and living fully." - Randy Pausch

  25. #14700
    Join Date
    Apr 2006
    Location
    Movin' On
    Posts
    2,910
    China seems to be in a secular shift away from unbridled capitalism. They made an example out of Jack Ma and several dozen other tech and education billionaires.

    They seem to be focused on turning to a more productive, less speculative economy rooted in Han Chinese culture and language. See: recent clamp down on gaming, splitting up Alibaba, shutting down tens of billions of dollars of English language schools, increase in nationalism, suppression of anything internal that isn't Han.

    I wouldn't be surprised if they didn't let the contagion spread across portions of their economy so they could kill of whatever Xi thinks is undesirable and buy up whatever the CCP wants at discounted prices.

    It certainly doesn't make sense for shitty, empty condos in second and third tier Chinese cities to be valued at the same price per square foot as Manhattan or London, but thats what things have gotten to in some cases.

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