Is the stock market going to tank?

[mcsquared]

So you're saying there's a chance

Downside = 100%, but Upside is infinity%. Can't lose.

[LeeLau]

Downside = 100%, but Upside is infinity%. Can't lose.

Going to buy CHK LKNCY WDI calls. That's hedging right?+

[mcsquared]

Cirque du soleil filing for bankruptcy too. Looks like they were operating.............. wait for it....................
.........wait..........without a net.

[4matic]

That really stings to see performers and stage actors losing livelihood. But at least the fed is buying ATT bonds.

[byates1]

Buy!

not quite yet, watch for a bit longer. here and there though yeah

[byates1]

^good to see you back in the frey alpy

[CovertM]

Love to see this thread drop to page 2 whenever we have a series of green days. Bunch of pessimists in here

[LeeLau]

What's there to say? Bought some LKNCY cos cash value. Sold it

Bought some WKHS puts cos candlesticks. Shorted some hyped stocks . Covered them

[capulin overdrive]

Anybody know anything about CRSP?

Bought some a few years ago thinking it had the chance of being something, so far been a turd, but now up some and could get out from under it.

So should i hold, or get out while i can?

[skaredshtles]

Anybody know anything about CRSP?

Bought some a few years ago thinking it had the chance of being something, so far been a turd, but now up some and could get out from under it.

So should i hold, or get out while i can?

[heckacali]

I just dumped all my holdings this morning.
I should have done it 2 weeks ago when I started to feel concerned about the impact of the virus.

I'm fairly confident I will be happy I did it in a few weeks/months " better late than never" as there is still a lot of damage to be done from this bug.

Fuck.

Self quoting looking back to lament how bad my decision was on 3/18.
I was heavy on TSLA and was "smart" enough to dump it within 2 days of the absolute low ($380ish IIRC) between the previous 3x high weeks earlier (just under $1000) and the current 4x high ($1400 and climbing)
FML

[skaredshtles]

Self quoting looking back to lament how bad my decision was on 3/18.
I was heavy on TSLA and was "smart" enough to dump it within 2 days of the absolute low ($380ish IIRC) between the previous 3x high weeks earlier (just under $1000) and the current 4x high ($1400 and climbing)
FML

Don't sweat it... you'll look smard when it goes back into the shitter.

[rod9301]

Don't sweat it... you'll look smard when it goes back into the shitter.

Only if you keep buying puts as it goes up.

Sent from my Redmi Note 8 Pro using Tapatalk

[LeeLau]

Short WKHS short term. Long WKHS long term. Positioned via puts calls spread

Bought WORK long dated calls

[LeeLau]

Shorted FCEL due to its pump on the latest EV stock craze even though it's not remotely anything to do with EV's other than having a cool ticker symbol. Covered and may re-short again as it may have RH millennial buyer legs

Also shorted China EV stock NIO because it's a RH favourite. Interesting it did a stock raise at 5.95 a few weeks ago. Longs appear to be selling covered calls (source CBOE block trades) to monetize their share price rise. Good for them! Covered already. Would like to reshort another pump

Another imbalance appears to be in the options markets currently with writers of short-dated options overpaying for theta. Conversely long-dated deep in the money options are paying close to zero for time. This is based on a random sampling of the more volatile stocks. Perhaps small accounts trying to use options for leverage without having sufficient collateral to risk much? No idea how long this will last as I'm sure others have noticed it.

[f=ma]

NYT article on Robinhood:

https://www.nytimes.com/2020/07/08/t...y-trading.html

"For each share of stock traded, Robinhood made four to 15 times more than Schwab in the most recent quarter, according to the filings. In total, Robinhood got $18,955 from the trading firms for every dollar in the average customer account, while Schwab made $195, the Alphacution analysis shows. Industry experts said this was most likely because the trading firms believed they could score the easiest profits from Robinhood customers."

[LeeLau]

NYT article on Robinhood:

https://www.nytimes.com/2020/07/08/t...y-trading.html

"For each share of stock traded, Robinhood made four to 15 times more than Schwab in the most recent quarter, according to the filings. In total, Robinhood got $18,955 from the trading firms for every dollar in the average customer account, while Schwab made $195, the Alphacution analysis shows. Industry experts said this was most likely because the trading firms believed they could score the easiest profits from Robinhood customers."

So entertaining. Those are the counterparties

[LeeLau]

CMCM which I bought a month ago paid out its $1.44 dividend which hit the account today for a nice return

Bought shares of KCAC - a special acquisition corp with a NAV of $ 10. It's in the running to buy Fisker; an EV play

Reshorted NIO at the high 15s. Looking to cover in low 14s

[dschane]

Reshorted NIO at the high 15s. Looking to cover in low 14s

That seems highly risky to me because (a) NIO is like the mediocre restaurant adjacent to the very popular one - it does well from overflow traffic; and (b) very little makes sense at the moment - TSLA, an EV company with no profit and with numerous, legit competitors from the big players to tiny ones like Rivian is now the 10th most valuable publicly traded company, and then of course there is the nonsensical story of HZ. And not to mention while the U.S. is crushing it when it comes to incompetently managing the pandemic, the stock market loves our incompetence. E.g., Pepsi lost $$$ on its bread and butter soda sales, but wait, because everyone is high, depressed, and stuck at home, it crushed it on snack sales. So, cha-ching, markets go up.

Then again, nearly every short I've done in this volatile mkt I've regretted (though I'm still holding out hope on a couple).

And, full disclosure - I bought NIO at $6 back in 2019, though I plan to sell at some point soon to earn a few $$$. When is always the question.

[dschane]

And by the end of the day, that was a good call. I think, however, that that volatility is in line with my point.

[billyk]

So, what happened this afternoon? Did the market finally realize that Biden will actually be president?

Brutal sell-off in the final hour. Be interesting to see where this goes tomorrow.

[schuss]

So, what happened this afternoon? Did the market finally realize that Biden will actually be president?

Brutal sell-off in the final hour. Be interesting to see where this goes tomorrow.

Wasn't it the news that we're running an 845 billion dollar deficit/month and CA is reclosing?

[billyk]

Wasn't it the news that we're running an 845 billion dollar deficit/month and CA is reclosing?

Ah, yeah, that’s probably it, although the deficit shouldn’t have been much of a surprise. But CA reclosing will have an impact.

[LeeLau]

And by the end of the day, that was a good call. I think, however, that that volatility is in line with my point.

NIO will likely do a dilutive below market financing because they have to which will be a catalyst. RSI over 90 for 2 days. Shorted more at mid 16s. Covered in low 14s. Kept half the short on. I've set a stop loss.

TSLA is a cult. I won't short cults. NIO is the vulnerable EV hype pump.

I'm also short WKHS from low 17s and have sold puts to get long below 10. Also in the category of EV hype pumps but with a bit more meat than NIO

[SkiCougar]

So, what happened this afternoon? Did the market finally realize that Biden will actually be president?

Brutal sell-off in the final hour. Be interesting to see where this goes tomorrow.

no, fed chair spooked by talk about lessening some support as things open and the economy resumed and CA is considering reclosing restaurants and such.