$-0.05 (-0.14%) Today
52 Week High
52 Week Low
7 Days Mentions
Fuck that pump during Biden’s talk that hit my IWM puts stop. .51 at a 20% loss now 1.40 would be near 200% gain if I still had em. Only had 5 but damn me for turning on the safety. At least the RBLX and AFRM puts are treating me alright. Still can walk away from the day up a couple hundo.
I play with 200-500$ gambles typically per position and I don’t like to go to far OTM so Netflix premiums aren’t my cup of tea, there are exceptions and ya I think it has moved itself to that “pretty shit” category as well but that company at least knows it can be successful without the help of infinite money and kids home more from Covid (AFRM and RBLX) honestly RBLX is in the category with DOCU where it should have been a no brainer bearish play near its highs coming away from Covid.
So here's the thing and I know it and I hope you know it. Recession & the market are a little bit disconnected. The market started to recover in 2009 but most people would argue that the recession wasn't over until 2011. In fact 2011 was probably the bottom of the housing market because that's exactly where I bought my house for 1/3 of what it had listed in 2008. So while I agree that the recession is here and this isn't going to be a v-shaped recovery the market will rebound before the recession is over. With that said there's too many people calling the bottom for this to be the real bottom. Look at all the people over in crypto right now scratching their eyes out because it keeps going down. It's getting so ugly over there it's making me want to buy in. With that said I think that there are quite a few micro cap issues that are already oversold and some of them have already started now they're not going to rocket anytime soon. RBLX got below $20 which was crazy from a high over 100. (Wouldn't you have liked own those puts) But it's going to sit on 30 for a while. You could probably sell some 40 calls and be fine.
Of course you do not fight the feds, but at the same time, you have to look at ownership and liquidity. Fiscal policies are going to inject $trillions more into the economy, and feds raising interest rates or ending QE would not effect earnings for those companies. Let's look at ownership, who own what - meme stocks, no profit/high pe stocks were obliterated: PLTR $35 ->$8, COIN $340 -> $50, RBLX $130 -> $28, UPST $400 -> $25. This is how a market crash looks like. Now let's look at stocks that have corrected and will not crash: $AAPL, $AVGO, $XOM, $CL. These stocks have buyers and buying back their own stocks. If they stop their buyback, I will begin to worry. Also look at 13F filings. Final thoughts, if you track higher interest rate, it doesn't cause market crashes.
I agree 100% I’ve taught myself the hard way. I have friends that have a college degree including my daughter who is an analyst at BNY for portfolios over 5 million who think I’m just a gambler. Despite my position in RDBX. This year I started in March after being in prison for 7 years. My ROI is 35% on swing trading OCGN, ANY, PHUN, RBLX, AAPL, MULN, RGLS, and other penny stocks. The .50 strike differential on a penny stock can pay off because it’s a larger % TT. I take my 1-3% and exit. People who invest long term don’t appreciate daily compounding interest IMO. Get it up. Junk stocks rule!
And I shoulda bought more of these puts before reality hour. Decent way to finish the week at least. Thanks for going too high today RBLX and AFRM, you are still overpriced trash. Take profit stop set and time to stop staring at the screen for a bit. Gl all!
I'm up 10%ish down from 20% at my high YTD. Though I'm a permabear so this market goes with my thought process. I missed a ton of the March 2020 drop to the highs in late 2021. I lost a ton at the start trying to stay short. I got v. lucky and recovered HUGE when I caught a lot of c r y p t o bullrun in registered accounts via canadian ETFs and stocks like ETHC and HUT. All sold at good profit. As soon as NFTs became a thing I realized the whole sector was going insane. Without those gains I'd be hurting. This time I'm trying to keep my head together. Setting proper stop losses on any entry I go into. -5% the first day I sell immediately and ignore for a week. -10% overall I sell and ignore it for a week. I've tried to buy dips in NFLX and PYPL, U, RBLX, all stopped out and am ignoring them now. I'm in 60% cash but have a lot of SH, PSQ, RWN. And although they aren't great I'm long a ton of GLD and SLV. Personally I want to see the whole market hit the 2020 lows. But I will try and listen to sentiment instead of just hearing what I want to. Right now though trend is bearish, until that trend breaks that's where I'm going to be.
I read a lot about RBLX here a while ago, mostly positive. And the company is not profitable at the moment , I do see a lot of kids like their games. Could you tell your reasons why you can't believe it, I would love to hear them, personally I am looking for a position in the near future. Heard they could be profitable in some years, hope for a oversold stock, even after the recent tumble. The market is about right for these kind of stocks to tank more..So Interesting to read what for example your reasons are. Thanks
Haven't made a play in months then randomly felt lucky and decided to buy RBLX 6/17 $31 put prior to the fed minutes. FML. Was telling myself before buying it was too obvious, but I just couldn't help myself. Someone please re-assure me we are going to dump after open tomorrow?
I made some money last year being apeish on AMC. 100 shares with a $11 average. Should've sold at $70, but cashed out in the high $40s. Took all but $1.5k to attempt to build up on. Decided to try to get into options, but went straight to ER weeklies. The high of hitting just right on RBLX was intense when it shot up to $100. Watching $135 turn into $2k overnight was intense. Learned some hard lessons up to EOY; after that I decided I just needed to sit out and not put any more in.