Good Lord, a lot of the high-flyers got slapped today. Quantumscape took a beating -- I was looking for an entry point after missing out and may have found a cave leading to a bottomless pit after today. I may have to get out of my SPCE, PLUG and GRWG soon and find new garbage to get into.
I just think there's a rotation away from those type of stocks at least temporarily. FAANG did well and the moonshot stocks got hit somewhat. CRM got hit because of the merger, but I need to keep an eye on that. Stuff like MRNA which I can't believe is where it's at all of a sudden also got hit. Some of it could just be profit-taking, especially at year-end. I had hoped semis would sell off with them a bit, but nope. The month of November was incredible. I don't think I've ever had a better month. I hope December continues the trend, but I get the feeling we'll have to pay the piper soon somewhere along the line here. lol.
This is the way imo, sell expensive trash, reinvest into cheap trash and repeat lol. Even if the expensive trash has more room to run past $30, hard to get another 2-3x while having much higher downside risk. I'm also buying warrants now instead of underlying for more leverage. I.e., 1000 warrants instead of 200 shares cost around the same at start. The super long expiry on what is essentially a call option is nice.
Been playing Biden stocks LTHM (for quite awhile), SOLO, and SOL the last few weeks. Looking forward, lots of options as always, especially with things looking up regarding Covid/opening up down the road.(going to be a tough winter before) But there is a growing POSSIBILITY on the near horizon that folks should at minimum be aware of. This concerns the election. It's not a done deal. There are things happening right now not being reported by the majors that COULD cause a big drop in the markets. IF it plays out...this would be a MASSIVE buying opportunity in front of a HUGE run if the president is back in office. I'm not saying it's going to happen, but....I closed out SOL yesterday and am on the sidelines for various reasons as of RIGHT NOW.
I won't debate you in the non-dnd section; but just say it out in case it's some thing the rest of us haven't considered. saying there's a major thingy we need to be worried about without saying what it is doesn't help... just creates anxiety
thanks Rodman overhead supply has been depleted, buyers are in control constructed this diagonal bullish CALL spread bto Jan 15 92.5 strike, sto Dec 24 101 strike, net $4.50
lots of cloud stocks reporting tonight; but all down instead of the pre-earnings run. bad sign? results leaked early? vaccine causing rotation? random whatevs?
constructed a quick bullish PUT spread---using 18 Dec expiration---on NVDA who appears to be bouncing off that trend line pointing to 542 bto 535 PUT, sto 540 PUT---collecting $2.15 in advance---defining my max risk to be $2.85
What do you all think about CRM here? Technically It did fill the gap from the august breakout...maybe gonna initiate a 1/2 position today.
That's big pharma... hope you're not expecting that to explode on vaccine news. If that's the case, you should've been in its better half, BNTX. I was in PFE for years for the dividend, though. Dropped it this year in order to temporarily make money in some garbage Robinhood stocks.
Some of the continued sell-off is due to the Citi downgrade and other analysts are reducing their price targets but leaving it a buy/outperform like $250-$260 price targets. Several are saying they overpaid for Slack. The massive spike up in the stock was around $208, so there's a lot of volume around here that has either recently sold out, are looking to sell out, or are really long-term holders. I'm hoping there are a lot of people willing to buy those shares. I'm usually in it for the long-haul (years) on stocks like this, but in this market, there's a lot of overvalued stuff out there, and I sure as hell didn't expect this think would rocket to where it is in less than a year. What you're doing is what I did with my initial purchase of CRM this year. I bought around a 50% position, then after it tanked, I bought another 30% position. I still have another 20% I could put into it, but not sure I will. This works beautifully when it works, but then I'm still waiting to by my other 50% positions in NFLX and NKE, and my final 20% in AAPL and I've owned those for years. lol. Sometimes you just fail to pull the trigger on a pull-back.
