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It's done this every day since last Wednesday. Up, some profit taking, steady price for awhile, up a tad, steady some more, up a tad at close. There's a lot of money being poured into this by people expecting a much higher price IMO
One day, if/when the dollar isn't the world reserve currency, it'll be a horrific depression.
Yeah, it seems like very healthy moves. Not day traders really. Have to guess some smart folks are buying. Not sure how they average in but seems like they just buy at the open then support it. I got spooked with the whole NP paying suppliers out of pocket thing. Am tailing a bit now but the recent run-up seems almost predicated on COVID which I'm less optimistic about. Obviously, positive news could lead to a pop and for a company this small, even if they don't make a huge 'profit' on COVID, it would move the needle more than a GILD.
I’m hoping to hold long term for pretty much everything. I’ve only got 3 short term things, CYDY, OPES and FMCI. Waiting for trials, up listing and changeovers, but the rest are hopefully well up years from now.
I think you've got the wrong symbol.
Yeah, I'm slightly tempted to sell LRNZ. perhaps not a huge gain, and it's a long term hold, but I wasn't expecting it to rise 10% in under 2 weeks.
Here’s an article that helps and the other article it sort of references:
Lol. I saw that article and the timing of the downturn today and thought the exact same thing. F the damn conference calls unless it’s unleashing something great.FMCI briefly dropped 9% during an uninspiring video conference with company officials. Feeling some deja vu here.
In that same vein, I bought on the dip. Worked well for the other one!FMCI briefly dropped 9% during an uninspiring video conference with company officials. Feeling some deja vu here.
Giving me tanker flashbacks to some extent. Momentum for the sector seems to be dying down a bit. Hopefully unlike the tankers it's just a blip.
Well, not really. If the market is going to go sideways for a while, you want to try to find a return besides the stock price growth. So dividends are good for that type of market (or really, any market). There are really two types of dividend companies, growth and high yield. In general, the dividend growth companies ("dividend aristocrats") are very solid, long term companies that should survive most market turbulence. Even if KO cuts their dividend because of Covid, the company isn't going anywhere and it's stock price should generally stay solid.
Yeah, I’m hoping this is just an indication that they overheated a little. Seems pretty uncommon for a SPAC to hit $20 before officially acquiring its target company, so a pullback seems justified. Wouldn’t surprise me if they just chopped around in this area until the tickers change.
I know many people like the dividend aristocrats. I definitely see the value when you're in retirement. It could make sense in this environment.
I'm going to step out at 4% every 20 cents it moves up until we get to the 13s and add 4% every time it drops 40 cents.
Another example of regulations not being up with the times. I mean, I give him some credit since he is more transparent about what he does than 90% of HFs who go on CNBC, pimp a stock they bought last week and then watch it go up 10%+. I do think disclosures need to be enhanced for all of this. I.e. should have to disclose any ownership stakes in companies you pump. But if the herd is dumb enough to follow you, what are you going to do? Legislate out stupidity?
Just like the RH stuff. Social media has made a big difference. You could argue that he didn’t do anything but tell his friends what he is buying. He didn’t disclose that he heard of some secret. The problem is that as an influencer he does benefit from making a purchase and then disclosing it.
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In this case I doubt it would matter.
Sure, but how do you stop that from happening? Many people followed Buffett, once they heard he made a move. The key difference like you said, is social media and the speed this stuff moves.
I don’t know if you can. I likened it to telling your friends with no insider info. He absolutely knows that he’s buying and then telling and making money, but he’s not an insider. He just has a lot of friends.
You're right, it probably wouldn't have an impact at first. But longer-term, it could. I mean with his following, it becomes a self-fulfilling prophecy. But if things go sideways, a lot of folks will be bagholding his ####. I'm just all for greater disclosure and transparency. I think if folks realized that he's making hundreds of thousands off them, they may not be as happy. Or maybe they are just dumb.
I don't know if any of you are in the choose FI and fatFIRE FB groups or follow the podcast, but this has been a major annoyance there lately. The groups are rooted in the broad based index fund / JL Collins school of investing. These guys come in, talk about this one hot stock, hoping to get some hype going. I'm sure they do it elsewhere but I don't follow many other financial groups.
That's how you fight it if you want to.
I mean I think if you were forced to disclose stocks you talk about when you buy and sell, that would help. I worked at a bank and I couldn't even buy any of the stocks that anyone on my team covered nor if the bank was involved with anything with them. Then you have the wild, wild west on social media.
I ended up shorting some more. Almost top-ticked it, for now at least. While puts obviously went down, the b/e on the near-dated stuff wasn't even that great so figured I'll just short at $37.20. Is a casino stock that doesn't even own it own properties going to get back to ATH in the middle of a pandemic when it was closed for the past 2 months?You're 100% right that the sportsbooks are a tiny fraction of the total income for casinos. The market is also similar to weed in that it's very fragmented with completely different regulations for each state. Hell, right now there's only one company approved in Oregon to offer mobile sports betting.
And now it's up 7% since I bought my puts
I think the only way to prevent it would be to prohibit selling a stock within 30 days or whatever of when you discuss it publicly.
That's kind of what I've been doing in my Roth, which is the one retirement account I've done any trading in. Over the past month, I've added holdings of XOM (7.4%), T (7.1%), PM (6.6%), PFE (4.3%), KHC (4.9%), JPM (3.6%), and PEO (7%). Not all "aristocrats", but it's partly TODEM's thinking of if we trade pretty much sideways for the next 6-12 months, then you're at least getting some yield. Now some of those dividends could be cut or suspended - I own TAP which suspended their 2020 dividends back on May 22nd. And of course I have some CYDY and a few other more speculative plays.
