Is the stock market going to tank?

[LeeLau]

Didn't do much today. Tried to get filled on BB and ATOS calls but didn't hit where I wanted. Was extremely tempted to sell RIOT calls, but think this BTC run has some more steam, and I have some shares that may get called away soon at $35. If BTC starts flirting with $50k again RIOT may be back to the $50-$60 range, 100% guessing.

Really contemplating rolling my 6/18 HGEN $30 Calls (bought) to 7/16...Possibly just adding to a sinking ship, but i'd hate to see this position expire worthless. Will look at it tomorrow and probably make a plan.

Lee, you making a play at UPST or SKLZ? I looked at selling the 7/16 $17.5 put today, but decided to see what it does the rest of the week. Don't want to tie up all of my BP on a Monday!!

Covert! Was thinking of you. I went into this week with RIOT free and clear and promised myself to not sell any calls. I even have RIOT 35Ps sold expiring this week and didn't touch them. I'm thinking of letting RIOT run more and take profits by calls in mid 40s.

I looked at SKLZ and it doesn't excite me. It's not recurring revs and dependent on hit games and cultish venues. Sort of like CMCM or EA (both of which I have earned in the past) but more so for esports. Haven't really looked at UPST much yet. Am very intrigued at the idea of shorting WKHS again but ideally I want a perfect setup. Three up days, massive volume, WSB going crazy and RSI into the 90s - that sort of technical mumbo-jumbo.

[JimmyCarter]

CRSR bitches!

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[LeeLau]

CRSR bitches!

I noticed it got meme'd. Well done! That's 2 in 2 weeks for you - CLOV and now this. Carbon wheels wheeeeee!!!!!!

[JimmyCarter]

Nah, hadn't bought in on this one prior, just trying to fuel the next WSB pump and du.....ediligence....

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[CovertM]

Covert! Was thinking of you. I went into this week with RIOT free and clear and promised myself to not sell any calls. I even have RIOT 35Ps sold expiring this week and didn't touch them. I'm thinking of letting RIOT run more and take profits by calls in mid 40s.

I looked at SKLZ and it doesn't excite me. It's not recurring revs and dependent on hit games and cultish venues. Sort of like CMCM or EA (both of which I have earned in the past) but more so for esports. Haven't really looked at UPST much yet. Am very intrigued at the idea of shorting WKHS again but ideally I want a perfect setup. Three up days, massive volume, WSB going crazy and RSI into the 90s - that sort of technical mumbo-jumbo.

I have half my shares of RIOT tied up in $30 and $35 7/16 calls that I rolled from 6/18. Probably will let the other half sit on the sideline and see how this plays out. Now that I say that it will bleed out the rest of the week and I could’ve closed for 50% by weeks end.

Assuming SI is still highish? Would hate to miss out on a super pump fueled by WSB.

What’s your thinking on BB? Long term value play? Or quick squeeze pump going for a ride with the others? It seems a buyout or large rev increase is possible with lots of the auto manufacturers choosing their software and other tech down the road. I’m content wheeling half of my shares selling $20ish calls and keeping the other half ready to launch.


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[LeeLau]

Re BB. I am a bagholder. Truth be told I finally have a profitable position and would be happy to dump it. As far as a high beta Yolo it doesn't fit my criteria (its boring). I shorted the recent volatility via a short strangle expiring this week and will gradually unwind. IV dropped from 280% to present so I'll be happy to move on

[pureantigravity]

CRSR bitches!

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Saw a comment on the reddit that Eagle Tree is selling out bit by bit and that is going to suppress the price. Thoughts? Also, profit margin, income look and operating income look unpredictable. I wonder how much of their income came from Elgato (" which provides premium studio equipment and accessories for content creators"). That would have been big with covid work from home broadcasting etc. Just wondering if anyone has looked at this closely.

edit: people might want to look at what happened to industry competitors also before jumping into that one as a long term hodl at pandemic prices. Case in point being their competitors that show similar charting. https://www.google.com/finance/quote...DAQ?window=MAX

[JimmyCarter]

Took profit on some RIOT "bought" in mid 20s via cash secured puts. Covered rest of ClOV.

RIDE is tanking. Hindenburg released a short report alleging financial fraud. Company denies allegations yet fires CEO,/CFO. WKHS is still holding up well (it's a very heavily shorted Pos) despite one of its primary assets being a 10% stake in RIDE

Hindenburg hitting DKNG too

https://hindenburgresearch.com/draftkings/

• We estimate that roughly 50% of SBTech’s revenue continues to come from markets where gambling is banned, based on an analysis of DraftKings’ SEC filings, conversations with former employees, and supporting documents.
• As one former employee told us, DraftKings’ subsidiary SBTech has “sold to plenty of mobs”, a sharp contrast to the clean image of DraftKings’ brand-conscious partners, including the NFL, NBA, NASCAR, UFC and PGA, and the company’s recent hire of supermodel Gisele Bundchen to advise on governance issues.
• Prior to the SPAC merger, SBTech seems to have made a concerted effort to distance itself from its black-market dealings. Illicit customer relationships were shuffled into a newly formed “distributor” entity called BTi/CoreTech, with ~50 SBTech employees shifted across town to the new entity.
• The CEO selected to run BTi/CoreTech was formerly an executive of a ‘binary options’ gambling firm raided by the FBI and subsequently charged by the SEC for deceiving U.S. investors out of over $100 million.
• We identified numerous black market clients of DraftKings’ “front” entity, through searches on social media and back-end web infrastructure. For example, an Asia-focused site tied to a triad kingpin at the center of a Swiss money laundering investigation advertises its use of BTi/CoreTech technology.

• We think DraftKings has systematically skirted the law and taken elaborate steps to obfuscate its black market operations. These violations appear to be continuing to this day, all while insiders aggressively cash out amidst the market froth.

[Timberridge]

Will Redditors go long DKNG, or are they out of $$ betting on all the other tickers?
And who names their fund Hindenburg?

[Benny Profane]

Attachment 377176

This cracked me up today...

Maybe Todd has much more generous parents and in-laws.

[Timberridge]

Maybe Todd has much more generous parents and in-laws.

Then there's a lesson to be learned about saving some money and helping out the next generation, and so on, and so on.

[El Chupacabra]

Maybe Todd has much more generous parents and in-laws.

I would've thought you'd have been "Yeah! Todd. This is the way."

[Timberridge]

^Benny wants everyone to be miserable, then he's happy.

Jeez, it's like you guys just discovered Benny's posts or something.

[MultiVerse]

Isn't the takeaway a Bogle-esque “Don't look for the needle in the haystack. Just buy the haystack!” as well as don't let a financial planner skim a little off the top? I guess "generous parents and in-laws" would help but that seems incidental to what is essentially a Vanguard sales pitch (and as it turns out a Rorschach test).

[Benny Profane]

I would've thought you'd have been "Yeah! Todd. This is the way."

Well, sure, but, Todd didn't get to a mil in savings at his age on his own, I'll bet.

[Timberridge]

Maybe he didn't move to a CO ski town at 21 and work as a ski technician for 7 years like Brett?

[glademaster]

He's also married, so in reality he doesn't have anywhere near $1.1M, she does.

[californiagrown]

Well, sure, but, Todd didn't get to a mil in savings at his age on his own, I'll bet.

Todd looks early/mid 40s. That is not at all outrageous to have 1mil in retirement savings for a dual income household. 20 years of saving 15% of their income invested in the S&P got you 6% return every year on average... they'd be sitting at +1mil.

Or, maybe they like having nice new cars, the latest clothes and electronics, dont cook much for themselves, eat out for lunch everydays, buy $6 lattes each morning and go skiing 3 times per year where the buy day tickets, rentals and lessons for the whole crew. In which case, it would be damn hard to save that much.

Or maybe Todd chucked a few grand into GME back in July and cashed out in April?

[Benny Profane]

Todd looks early/mid 40s. That is not at all outrageous to have 1mil in retirement savings for a dual income household. 20 years of saving 15% of their income invested in the S&P got you 6% return every year on average... they'd be sitting at +1mil.

Or, maybe they like having nice new cars, the latest clothes and electronics, dont cook much for themselves, eat out for lunch everydays, buy $6 lattes each morning and go skiing 3 times per year where the buy day tickets, rentals and lessons for the whole crew. In which case, it would be damn hard to save that much.

Or maybe Todd chucked a few grand into GME back in July and cashed out in April?

Or maybe Todd didn't take on six figures in student debt obtaining a degree that would put him on a career path that would enable a mil in savings in his early forties because his parents and/or grandparents covered school, then Todd was gifted a large down payment for his young family's home by same said relatives, who also take care of the family's other expenses in various other ways that poor Brett has ever hoped in seeing in his brutal life in capitalism.

[fastfred]

Maybe he didn't move to a CO ski town at 21 and work as a ski technician for 7 years like Brett?

nothing wrong with tuning skis for most of your twenties
was going to smoke weed for my mid morning break then realized I have to be somewhere important after lunch

poor benny, you need to hit summit hard this winter and loosen up

[Benny Profane]

I'll be there. Still haven't skied the Beavers. But, Italy first.

[californiagrown]

Or maybe Todd didn't take on six figures in student debt obtaining a degree that would put him on a career path that would enable a mil in savings in his early forties because his parents and/or grandparents covered school, then Todd was gifted a large down payment for his young family's home by same said relatives, who also take care of the family's other expenses in various other ways that poor Brett has ever hoped in seeing in his brutal life in capitalism.

Or Todd didnt go to an overpriced private school, instead opting for a state school where he applied for and obtained a few of the MANY scholarships that go unclaimed every year. He then earned a standard business degree and worked his way to middle mgmt by early 30s. Similar story for his beautiful bride (turns out women can be smart and succesful too) and when two succesful people get married they end up with double the income! They bought a fixer upper starter home in their late 20s, fixed it up and sold it for a nice profit. They now live in a nicer neighborhood and are in the process of fixing that place up too along with building an ADU out back for the crazy FIL who provides part time (if a little dangerous and negligent) childcare.

Meanwhile poor brett took out 6figs in student loans to go to colorado college "for the networking". Now all his peers and ex classmates with trustfunds and nepotistic careerpaths live lavish lifestyles which he tries to keepup with, but realistically cannot. So he never climbs out of debt, and lives in an apartment in boulder. But, he is living the dream driving a leased Audi A4 (cant afford the A6 payments), owns a Yeti SB6 and skis some sick frontrange gnar at Breck every other weekend (if he feels like fighting 3 hours of traffic each way).

[Timberridge]

nothing wrong with tuning skis for most of your twenties
was going to smoke weed for my mid morning break then realized I have to be somewhere important after lunch

poor benny, you need to hit summit hard this winter and loosen up

Nothing wrong with that fred, everyone has different priorities.

It's possible Brett had an inheritance and squandered it away on heli trips, indie skis and buying high and selling low. We just don't have enough background info on these guys to jump to our usual TGR conclusions.

[Benny Profane]

Or Todd didnt go to an overpriced private school, instead opting for a state school where he applied for and obtained a few of the MANY scholarships that go unclaimed every year. He then earned a standard business degree and worked his way to middle mgmt by early 30s. Similar story for his beautiful bride (turns out women can be smart and succesful too) and when two succesful people get married they end up with double the income! They bought a fixer upper starter home in their late 20s, fixed it up and sold it for a nice profit. They now live in a nicer neighborhood and are in the process of fixing that place up too along with building an ADU out back for the crazy FIL who provides part time (if a little dangerous and negligent) childcare.

Meanwhile poor brett took out 6figs in student loans to go to colorado college "for the networking". Now all his peers and ex classmates with trustfunds and nepotistic careerpaths live lavish lifestyles which he tries to keepup with, but realistically cannot. So he never climbs out of debt, and lives in an apartment in boulder. But, he is living the dream driving a leased Audi A4 (cant afford the A6 payments), owns a Yeti SB6 and skis some sick frontrange gnar at Breck every other weekend (if he feels like fighting 3 hours of traffic each way).

Business degrees from state schools do not make millionaires before 50.

[Timberridge]

Business degrees from state schools do not make millionaires before 50.

There you go again Benny. You're like an older, more genteel glademaster of negativity.