Not gonna lie I threw in a very small sum in GME a week or so ago just to satisfy my gambling cravings. Its inconsequential money to me so I've been enjoying the rollercoaster and memes that seems to have finally died now. Sad about the people who went all in on it and never sold though.
I wonder if this will be federally legal in 1-2 years, 5-10, or even 20+ years. Because when that happens the money will be flowing in this industry. When the hell does that happen though. People were already burned bad from this industry in the last several years.
I know Hindenburg has a good reputation and all their claims may be true, but how serious are these allegations vs making mountains out of mole hills is my question? Maybe $CLOV's business model and performance is overhyped but doesn't mean they can't succeed. In terms of a hit piece, the title is called "How the “King of SPACs” Lured Retail Investors Into a Broken Business Facing an Active, Undisclosed DOJ Investigation". Basically they are calling Chamath a fraud who intentionally misled retail investors for his own benefit, which is a pretty bold claim and I don't think is fair to say at this time without a smoking gun. I will wait to see $CLOV and Chamath's rebuttal before making a call. All my eggs aren't in $CLOV either so it's within my risk tolerance to hold for now (and even if it goes to $0 but hopefully that won't happen), but if I was 100% in $CLOV, for sure I would have reduced my exposure significantly today.
https://www.hkex.com.hk/Market-Data/Securities-Prices/Equities/Equities-Quote?sym=1024&sc_lang=en Kuaishou listed today, but cap has shot up to $163bn if I'm calculating correctly. Very exciting company, but this is too rich/risky even for me. Jd.com is $153bn, twtr is $43bn. I'll cheer for it on the side thru tencent's stake in kuaishou.
This is where I'm at with clov. Don't think the company is in any danger of dying, but I bought it in hopes of upside and sexy gains from a rapidly growing disruptor that will have a margin advantage at scale, I thot sexy keywords justify lemonade premium in short term. It may or may not recover, but prefer to move on at small loss and putting the $ to work on something else. Ended up using the maintenance margin on selling another put on beloved cloudflare.
@adoo any thoughts on that to do with amzn? Super 4q did nothing for price. I guess next catalyst is more stim news.
Yesterday, IBM closed at ~121. a couple of weeks ago, the handle attendant to a 3.5-mo cup was aborted attributable to a poor earning report in mid-Jan. it then gap down from 130 to 120; trading action has been forming a small island around 120. i am making a play for an island reversal for IBM towards closing the gap. sold bullish 122/117 PUT spread, Mar expiration, collecting $2.65 premium in advance, defining my max risk of $2.35 W ~45 days til expiration, time decay—eroding rapidly—is working against the other side. Most probably, the spread will expire worthless, thus I get to keep all the premium collected in advance
Not having an exit strategy was the most bizarre thing to me. It literally makes no logical sense on any level. You could have "stupidly" bought in for 150 and still made a lot of money. Weird. #twothaM00N
It makes sense if the goal was to expose the naked shorts and bankrupt the hedge funds. I started following late in the game and it was pretty obvious what the original goal was. I just hope you have an exit strategy when this whole train derails and comes to a grinding halt. It's sooner than you realize.
Based on your response I get the feeling you misinterpreted what I wrote. I was saying it is extremely stupid for people to get in on GME and NOT have an exit strategy. Why would you not? It was never going to stay at 300+.
The message was clear. "we will not sell. even if it goes to zero." There were a lot of those guys who were not in it for the money.
ZM is up 22 so far today, trading ~ 412, broke thru the 50 dma bouncing off the higher channel of the wedge, up, up and away next target, 38% retracement ~ 425, could be today, then 450
I understand that, and if that's the way they wanted to play it then it's not up to me to stop them. My message was pretty clear too: That mindset was/is idiotic and self-destructive.
From one of my fav seeking alpha authors: Aviat Networks: Buy With Both Hands On Impressive Q2 Results And Likely Conservative Guidance https://seekingalpha.com/article/44...e-q2-results-and-likely-conservative-guidance Based on guidance for 2021 still looks really cheap.
TAs look great, but it is a lightly traded stock; MACD is about to cross over RSI is only 53 i may buy a LEAP call option and selling cover Calls every month
I covered half my $CLOV position today. The company response was okay but not great and there will definitely be a cloud over the stock until all the investigations are wrapped up, which who knows how long will take? I also wish Chamath would have made a statement defending his credibility by now but this could also devolve into a pissing content between the pro-Chamath and anti-Chamath crowd.
