Well in that case there have been rolling corrections under the surface of the overall market for almost a year now.
Not just 10%'s either, big 30-40-50% corrections. Zoom is down 50% from it's highs for anyone interested.
OT: Stock and Investment Talk
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Not just 10%'s either, big 30-40-50% corrections. Zoom is down 50% from it's highs for anyone interested.
Stay-at-home plays like Zoom and Peleton have gotten crushed along with the joke SPAC market. Once again the SEC proved how useless they are by allowing SPACs to run wild. I know plenty of folks that start their “investing research” by Googling the stock or checking FB and don’t realize how many bogus opinions/articles there are.
The meme stocks apparently finished recruiting their latest batch of suckers and are starting back down.
I don't own either of these companies, but a bunch of in-the-crapper stocks I do own were up big today: QDEL, CPNG, APPS, ATER, JMIA, TIGR.
There is difference between stock market corrections/bear market and sector rotations.
Ya, it's good to distinguish between them. But it should be noted we(including yourself) were pretty clearly talking about the potential for a market correction earlier, when you brought in the new investors buying tsla anecdote, which led me to my post about corrections under the surface.
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Chargepoint rallying in after hours after it's earnings.
Chewy flopping on earnings(I did put in a limit buy but it has yet to hit).
AI also flopping, which I've owned and has been performing horribly. It was up earlier today on some news about a collaboration with Google, but the earnings report wiped those gains out and then some.
Chewy flopping on earnings(I did put in a limit buy but it has yet to hit).
AI also flopping, which I've owned and has been performing horribly. It was up earlier today on some news about a collaboration with Google, but the earnings report wiped those gains out and then some.
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I’ve owned Chewy for a while. The quarter did not seem to warrant a 10%+ sell off. I’m sure it snaps back quickly.
To both of you above. Chewy's dump seems irrational and emotional. It will rebound quickly. Those that hold and/or buy these silly dips will be rewarded:
www.cnbc.com
Chewy shares tumble after pet retailer's earnings and forecast disappoint
The online pet retailer's stock was down more than 11% at one point in after-hours trading Wednesday.
It already bounced back a bit. I missed on my bid and moved my money elsewhere(see below). I'm keeping an eye on CHEWY though.
There is an AMZN vs the world element to CHWY. We see many of the brick and mortar going online, like Macy's Gap and Kohl's(I'm in on the latter) we also see Nike going DTC. We also see AMZN entering the brick and mortar space. But CHEWY is a pure play niche online play which to some extent will compete with AMZN.
I don‘t know what “corrections under the surface” means and I am not familiar with that term, but I personally use these type of situations to readjust my portfolios and do my own tax harvesting. I have realized an insane amount of profit thus far this year and will be trimming some of my losses to offset those gains and reduce my tax burdens. I will likely also be buying some call options in volatility; put options in nasdaq, s&p and some stocks that have run up too far. If i am correct and the markets undergoes correction in the next 2-3 months then I will reinvest my capital. That is one of the ways I generate a higher return than the market.
Bought some MMAT at $4.61. Looks like I can sell the Sept 17th $5 strikes for .55 cents.
So well over 10% premium with a near 10% OTM strike.
Certainly some downside there, so I'm all about this one going to $6 in two weeks. Still getting comfortable with the downside consideration in regards to selling calls.
So well over 10% premium with a near 10% OTM strike.
Certainly some downside there, so I'm all about this one going to $6 in two weeks. Still getting comfortable with the downside consideration in regards to selling calls.
So MMAT up 10% this morning currently trading at $5.125.
Sold Sept 17th $6 strikes for a 10% premium
And some $8 strikes for an 8% premium.
On the flip side I sold some $2 GSAT calls yesterday for a 10% premium, and it's up 20% today. Not that I would not have sold calls today, but I would have sold them for a much higher premium.
Sold Sept 17th $6 strikes for a 10% premium
And some $8 strikes for an 8% premium.
On the flip side I sold some $2 GSAT calls yesterday for a 10% premium, and it's up 20% today. Not that I would not have sold calls today, but I would have sold them for a much higher premium.
I totally do not understand biotech and never will. The only thing own in this sector is ARKG.
Flip side a couple stocks I saw jumping on the ticker.
APOP (small cap biotech, so def the flip side of the above) up 70% on good trial news, and ANY(micro cap tech stock) up about 50% on news it is entering the mining game.
The Sept 17th call options on the latter at close saw 20% premiums available with a strike 15% above the closing price.
Sidenote, saw CPOP on the ticker not long after APOP, one of those weird things that seem to happen in the market where stocks with similar symbols will move on news from another company.
APOP (small cap biotech, so def the flip side of the above) up 70% on good trial news, and ANY(micro cap tech stock) up about 50% on news it is entering the mining game.
The Sept 17th call options on the latter at close saw 20% premiums available with a strike 15% above the closing price.
Sidenote, saw CPOP on the ticker not long after APOP, one of those weird things that seem to happen in the market where stocks with similar symbols will move on news from another company.
I avoided biotech for 15 years. Then, the same buddy that made $1.4M+ in mid-90s on a Pokémon licensing company stock, and works in big pharma, gave me a tip on Sesen Bio. In a matter of months, I ride Sesen from $1 to $6. The FDA approval was fast-tracked. Every indication was it was a slam-dunk. Two weeks ago I’m sitting on the beach in LBI marveling at my account and showed my wife the $42K Sesen gain - something I NEVER do (She doesn’t have a clue about my investments). Even joked that once it gets approved it will eventually pay for a shore house. My son grabs me to hit the water. Came back after 20 minutes and checked my account - I was down over $9K. A $51K swing in 20 minutes. The FDA issued some BS CRL that basically threw Sesen’s trial in the garbage. On the bright side, I wasn’t the least bit twisted or upset because it was always a risky spec play which is why I didn’t sell during the climb - but that’s it for me - done with biotechs forever. Gambled and lost. I’ll stick with tech and sectors I understand.
Not good jobs #'s for the month:
www.cnbc.com
Jobs report disappoints — only 235,000 positions added vs. expectations of 720,000
Job creation for August was a huge disappointment, with the economy adding just 235,000 positions against expectations of 720,000.
Market dipped for a bit, but then came back. Edit: and then dipped again at the open.Not good jobs #'s for the month:
Jobs report disappoints — only 235,000 positions added vs. expectations of 720,000
Job creation for August was a huge disappointment, with the economy adding just 235,000 positions against expectations of 720,000.
Steve Leisman broke down the #'s, thought that maybe the education #'s because of Covid, were perhaps causing a drag.
But I was on the phone, so I was only partly listening so don't quote me on that.
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I'm more interested in the September # because of school openings. Liked to have seen a breakdown by states who still have the $300. supplement and those who don't. 400,000 say they can't work for pandemic reasons. In many places, that would also prohibit their evection for non-payment of rent. Finally I wonder what thw impact is of supply chain issues.
Like WB, I am bullish on America and our economy. I am, however, concerned about supply chain issues. In the short term the tactical challenge appears to be very much the function of shipping and container issues. To me, more important in the long term are more strategic issues related to dependency on foreign countries. As a country, we bought into the “economic competitive advantage” theory that if you can get something cheaper elsewhere, do it. That’s fine in text book theory but not in a geopolitical environment such as what we face today and will face in the future. The problem is over time you lose core competencies and become more and more dependent on foreign countries. I’d rather pay a bit more and retain core competency in production. Whether we are talking about medicines, tech, or many other products, I think it is dangerous to willingly walk away from production capabilities. We learned nothing from OPEC and the oil issues in the ‘70s. Having said that I remain long term bullish!
So 6 of the 7 calls that I've written(proper terminology?) thus far have expired without redemption. The one that was exercised, sold at .01% above strike price and is currently below that strike.
Now I have a bunch out there now which I sold which I was really looking to collect as much premium as possible, and those will most likely be exercised and I may lose some upside there, but I priced them knowing this was a real possibility.
I'm noticing that it does take some discipline to participate in this space. To take that 10% now when the potential is there to wait a week and maybe that premium increase's by 2x or 3x.
Now I have a bunch out there now which I sold which I was really looking to collect as much premium as possible, and those will most likely be exercised and I may lose some upside there, but I priced them knowing this was a real possibility.
I'm noticing that it does take some discipline to participate in this space. To take that 10% now when the potential is there to wait a week and maybe that premium increase's by 2x or 3x.
I was gonna post about the CT sh*tshow, but decided it was pointless because the fan-boys refuse to accept reality. I’d say there a pretty good chance the CT never reaches production. Musk states the timeline is now late 2023. In 2+ years nobody will remember what a Cybertruck is. And good luck to CW and her $3000 prediction.
But, but, but it's going to do 0-60 in 1.5 seconds floating in a flood, against the current, using thrust from the wheel rotation all while getting the equivalent of 150 miles per gallon.
Yeah and it can make sweet sexy love to drivers too. Just don’t throw anything at the window.
No, I was J/K'ing. My one and only pharma/HC/biotech play is PRHSX and my company's stock (via LTI options and RSUs).
Bought some HUT yesterday, crypto miner which had been outperforming the rest of the miners over the last 6 weeks. Shrugged off the crypto correction on Tuesday and is already back up near it's all time high's. .
If it can break through that level I'll sell some calls against it.
If it can break through that level I'll sell some calls against it.
No, it's not. Last time I checked, you need a factory to manufacture a vehicle. Austin isn't complete, and Model Y will be the first priority. Some work still remains on 4680s. Until those issues are sorted, we're not going to see CT, Semi, or roadster.
As a Tesla investor, I couldn't care less about roadster. It's crumbs on the bottom line. Tesla already has it's halo car in the Plaid S. Plaid is shattering records for production vehicles and making million dollar hyper cars look stupid.
Scaling production of new technology is ridiculously difficult. Have you figured this out yet? Everyone is having issues.
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