OT: Stock and Investment Talk

robcac26

Senior
Nov 30, 2012
1,726
1,234
113
interesting, have been looking at the pot play but unsure of how to really jump in as it's not my typical venue

hope you guys are buying xom today
I was initially invested in MJ, which I first heard about I believe earlier in this thread a few years ago. With so many startups in this industry, I didn't want to take guesses at which ones will last long-term, so an ETF was what I was looking for. It shot up for a while and then ended up dropping below what I bought it at and stayed there. I thought as weed became legalized in more states every year, MJ would bounce back up, but it didn't really happen. I found an article on Robinhood that mentioned the reason why cannabis stocks haven't responded to US legalization is because although it means an expanded customer base, it also means more competitors entering the market. Since capitalizing on US legalization is what my intent has been from the beginning, I traded all my MJ for MSOS since MSOS is 100% US-based companies. Here's more info on MSOS.

I'm just going to throw this one at you, IIPR, it's a REIT which rents space to the growers.

Already profitable, with fantastic growth, if, in addition to the pure plays, you want to diversify your exposure, this may be a solid option.
I never really looked too much at individual companies, but this conversation made me interested in seeing which of these I actually have with MSOS. Looks like it has 11.27% invested in CURLF and 5.83% in IIPR.
 
  • Like
Reactions: RU-05

RU-05

All American
Jun 25, 2015
6,844
4,731
113
ETH and BTC continuing their downward trend this evening.

Shed the miners the other day.

Might have to get out of my ETHE and GBTC positions as well.
 

T2Kplus20

Heisman Winner
Gold Member
May 2, 2007
10,687
3,370
113
ETH and BTC continuing their downward trend this evening.

Shed the miners the other day.

Might have to get out of my ETHE and GBTC positions as well.
Careful, those prices bounce around like crazy. I'll likely buy more tomorrow if trends hold to decrease my cost basis (that's my plan with my slow buying approach).
 

T2Kplus20

Heisman Winner
Gold Member
May 2, 2007
10,687
3,370
113
For those invested or thinking about ARK ETFs. Interview with Cathie Wood last month:

 
  • Like
Reactions: RU-05

jtung230

All American
Jun 30, 2005
8,403
4,499
113

ScarletNut

All Conference
Jul 27, 2001
4,127
2,161
113
Anyone who knows banking knows the government will not allow dark pool money. Remember the saying follow the money?
I mentioned it earlier but a Fidelity guy (I don’t remember his name), was on earlier saying that their forensics research showed far less illicit bitcoin transactions than in the past and that traditional laundering and illicit transactions were far more common. Fidelity is entering the Bitcoin market with Bitcoin futures. I find it hard to fathom how one country can regulate Bitcoin when it is trading internationally and more likely to become mainstream. Imagine a foreign country regulating the dollar.
 

T2Kplus20

Heisman Winner
Gold Member
May 2, 2007
10,687
3,370
113
I mentioned it earlier but a Fidelity guy (I don’t remember his name), was on earlier saying that their forensics research showed far less illicit bitcoin transactions than in the past and that traditional laundering and illicit transactions were far more common. Fidelity is entering the Bitcoin market with Bitcoin futures. I find it hard to fathom how one country can regulate Bitcoin when it is trading internationally and more likely to become mainstream. Imagine a foreign country regulating the dollar.
I believe that study pegged Bitcoin illicit activity at only 1%. Besides, there is plenty of illicit stuff with traditional currencies!
 
  • Like
Reactions: robcac26

jtung230

All American
Jun 30, 2005
8,403
4,499
113
I believe that study pegged Bitcoin illicit activity at only 1%. Besides, there is plenty of illicit stuff with traditional currencies!
How do they come up with 1%? The only utility I have heard of is a scam from my co-worker. He lives in New Canaan, CT. People got letters in the mailbox saying they know about their secrets. They will keep quite if they are paid in Bitcoin.
 

T2Kplus20

Heisman Winner
Gold Member
May 2, 2007
10,687
3,370
113
How do they come up with 1%? The only utility I have heard of is a scam from my co-worker. He lives in New Canaan, CT. People got letters in the mailbox saying they know about their secrets. They will keep quite if they are paid in Bitcoin.
I don't think that qualifies as illicit behavior with Bitcoin itself. That's just criminals doing criminal stuff. Can't blame Western Union for scams like that either.

But I don't remember how or who got to that 1%.
 

jtung230

All American
Jun 30, 2005
8,403
4,499
113
I don't think that qualifies as illicit behavior with Bitcoin itself. That's just criminals doing criminal stuff. Can't blame Western Union for scams like that either.

But I don't remember how or who got to that 1%.
? Money never commits crimes. It’s actually a deterrent because it can be tracked. That’s why they asked for Bitcoins.
 

bob-loblaw

Senior
Jan 24, 2011
1,340
232
63
I believe that study pegged Bitcoin illicit activity at only 1%. Besides, there is plenty of illicit stuff with traditional currencies!
Exactly. How many billions of USD are spent on illicit activity?

How do they come up with 1%? The only utility I have heard of is a scam from my co-worker. He lives in New Canaan, CT. People got letters in the mailbox saying they know about their secrets. They will keep quite if they are paid in Bitcoin.
My cousin is the prince of Nigeria. He'd like you to send him $87,000 to release him from jail there. He has $10,000,000 he will give you when he is released.

How many calls do you get a day about lowering credit card rates or your vehicles warranty? There's POS scammers everywhere, meddling in whatever currency they can.
 
  • Like
Reactions: robcac26

T2Kplus20

Heisman Winner
Gold Member
May 2, 2007
10,687
3,370
113
ETH and BTC continuing their downward trend this evening.

Shed the miners the other day.

Might have to get out of my ETHE and GBTC positions as well.
BTC back up to 32.5k
ETH back up to 1235

Just pisses me off that the brief downturn happened at night and we couldn't take advantage of it! BOO.

Overall market futures down. Profit taking day?
 

ScarletNut

All Conference
Jul 27, 2001
4,127
2,161
113
BTC back up to 32.5k
ETH back up to 1235

Just pisses me off that the brief downturn happened at night and we couldn't take advantage of it! BOO.

Overall market futures down. Profit taking day?
Nerves of steel and understanding previous moves required.
 
  • Like
Reactions: T2Kplus20

T2Kplus20

Heisman Winner
Gold Member
May 2, 2007
10,687
3,370
113
Nerves of steel and understanding previous moves required.
+1
This sh!t makes big moves hour by hour. I will only make purchases that lower our cost basis for ETHE and GBTC. No need to chase. Plenty of chances to buy on the downward spikes.
 

ScarletNut

All Conference
Jul 27, 2001
4,127
2,161
113
+1
This sh!t makes big moves hour by hour. I will only make purchases that lower our cost basis for ETHE and GBTC. No need to chase. Plenty of chances to buy on the downward spikes.
Hopefully the next downward spike won't come for a while ;)
 

bob-loblaw

Senior
Jan 24, 2011
1,340
232
63
BTC back up to 32.5k
ETH back up to 1235

Just pisses me off that the brief downturn happened at night and we couldn't take advantage of it! BOO.

Overall market futures down. Profit taking day?
This is another reason why I recommend to my investor friends to just own the asset outright. I had price alerts set on Gemini throughout the eve and grabbed several hundred more.

The downturn was triggered by a suspect report claiming a double BTC transaction happened on the ledger. It was since debunked. It spooked some people as they thought there was a major flaw in the chain.

Nerves of steel and understanding previous moves required.
Yup. Buy and hold. It is a long term play. trying to buy and sell btc is a fools errand. And one that will make people hate their life several years from now when they see the price.

Hopefully the next downward spike won't come for a while ;)
It'll continue to happen intermittently. Not too sure how many buying opps there will be in the 20's though.

Short term I think its going to pop again. The Black Rock news got squashed by the paper hands selling out of concern yesterday. Black Rock's interest in BTC is fn huge. It's another signal that Wall St is on board. One by one the dominoes are falling. You cant ignore it at this point...
 
  • Like
Reactions: ScarletNut

T2Kplus20

Heisman Winner
Gold Member
May 2, 2007
10,687
3,370
113
This is another reason why I recommend to my investor friends to just own the asset outright. I had price alerts set on Gemini throughout the eve and grabbed several hundred more.

The downturn was triggered by a suspect report claiming a double BTC transaction happened on the ledger. It was since debunked. It spooked some people as they thought there was a major flaw in the chain.
And that is a real benefit of owning the asset outright.
 
  • Like
Reactions: redking

bob-loblaw

Senior
Jan 24, 2011
1,340
232
63
And that is a real benefit of owning the asset outright.
One of them, yes. A big part of the BTC ethos is self-sovereignty. Jon Najarian of CNBC had some pretty good takes on this back when he was on the Pomp Podcast over the summer. He really drives home the power of currency portability.
 
  • Like
Reactions: T2Kplus20

RU-05

All American
Jun 25, 2015
6,844
4,731
113
BTC back up to 32.5k
ETH back up to 1235

Just pisses me off that the brief downturn happened at night and we couldn't take advantage of it! BOO.

Overall market futures down. Profit taking day?
30K has twice held as a support level.
 

bob-loblaw

Senior
Jan 24, 2011
1,340
232
63
30K has twice held as a support level.
This is going to continue. The "whales" are buying the dip.

Microstrategy dropped another 10 mill in Bitcoin during yesterdays dip.

For those doubting Wall St's willingness to bet on the BTC train, here's another piece of the puzzle
 
  • Like
Reactions: RUTGERS95

RUTGERS95

Hall of Famer
Sep 28, 2005
31,965
360
83
This is going to continue. The "whales" are buying the dip.

Microstrategy dropped another 10 mill in Bitcoin during yesterdays dip.

For those doubting Wall St's willingness to bet on the BTC train, here's another piece of the puzzle
the number of accts with over 1k coins has increased in 36hrs. all you need to know. lol
 
  • Like
Reactions: bob-loblaw

RUTGERS95

Hall of Famer
Sep 28, 2005
31,965
360
83
BTC back up to 32.5k
ETH back up to 1235

Just pisses me off that the brief downturn happened at night and we couldn't take advantage of it! BOO.

Overall market futures down. Profit taking day?
not to toot my own horn but I bought another 8 coins last night at 1071:)

Sold out of LTC position as I trade that position and took some profit before the weekend but still long quite a bit of ETH

I think we touch 1350 over the weekend
 
  • Like
Reactions: T2Kplus20

T2Kplus20

Heisman Winner
Gold Member
May 2, 2007
10,687
3,370
113
not to toot my own horn but I bought another 8 coins last night at 1071:)

Sold out of LTC position as I trade that position and took some profit before the weekend but still long quite a bit of ETH

I think we touch 1350 over the weekend
+1
Looking good on ETH, but sadly I missed that dip. Still, made a few good purchases yesterday morning. Nicely in the black to wrap up the week!
 

T2Kplus20

Heisman Winner
Gold Member
May 2, 2007
10,687
3,370
113
not to toot my own horn but I bought another 8 coins last night at 1071:)

Sold out of LTC position as I trade that position and took some profit before the weekend but still long quite a bit of ETH

I think we touch 1350 over the weekend
By the way, I know you are high on XOM. What about CVX? I remember you saying that your are bullish on the energy sector in general. Thoughts?
 

RU-05

All American
Jun 25, 2015
6,844
4,731
113
By the way, I know you are high on XOM. What about CVX? I remember you saying that your are bullish on the energy sector in general. Thoughts?
For what it's worth, Cramer often says CVX is the best in class choice in the sector. Cleaner balance sheet and all that.

The more down trodden may have more headroom though if the entire sector rallies this year.

Smaller plays too. TELL is up about 5x from it's 52 weeks lows, and still 50% off it's precovid levels.
 

T2Kplus20

Heisman Winner
Gold Member
May 2, 2007
10,687
3,370
113
For what it's worth, Cramer often says CVX is the best in class choice in the sector. Cleaner balance sheet and all that.

The more down trodden may have more headroom though if the entire sector rallies this year.

Smaller plays too. TELL is up about 5x from it's 52 weeks lows, and still 50% off it's precovid levels.
Good stuff, thanks. I spoke to the advisor that we use for our backdoor Roth IRA accounts (16% of our retirement assets) and he is bullish on XOM, CVX, and the energy section. Very conservative guy (who actually owns 2 bitcoins which surprised me). He recommended:


Energy sector ETF, but 45% of the fund is XOM and CVX. Only a total of 25 holdings. May be the way to go for me.
 

T2Kplus20

Heisman Winner
Gold Member
May 2, 2007
10,687
3,370
113
Another video to watch, from the other POV. :)

Cathie covers a lot of great topics. Check it out!

 
Last edited:
  • Like
Reactions: RU-05