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Bought some CMLF.  SPAC targeting life sciences companies that enable and support innovation.  Board of Directors includes Sean George, PhD, CEO Invitae $NVTA and Emily Leproust, PhD, CEO Twist Bioscience $TWST which are both large ARK holdings.

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1 hour ago, Desert_Power said:

Ok, I don't understand how that works at all. Thanks for your wisdom.

What you’re missing (and what I was missing until I just spent 20 minutes on a scratch piece of paper figuring out) is that you have to factor in the losses for selling your shares short, back into the cost basis of your remaining shares. 
 

500 @ $5.00

minus

200 @ $2.00

You’re recovering $400 of your original cost, but you lost $600 on that trade. 
 

So, you’re remaining 300 shares @ $5.00 also need to include that $600 loss. So you go from a $1,500 total cost basis to $2,100 for 300 shares, which equals $7.00 per share cost basis. 

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Took a small position with TNXP.  Anyone in on this roller coaster?  The trading volume of this is nuts comparatively, but I'm looking to hold for a bit.

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10 minutes ago, Steeler said:
17 minutes ago, Helaire-ious said:

Nope. Friday was the 1st day they were not being restricted on buying AMC.

I think the consensus is that GME type moonshot is not going to happen.  There isn't enough shorted shares and the robin hood et.al. would just add restrictions again if they attempted another short squeeze with AMC. 

I think GME will happen more often that not until the govt steps in and starts regulating this hedgies and their stock short lending.  Its not reasonable that 133% of the the float can be shorted.

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6 minutes ago, identikit said:

$SNDL up 24% today....

Yea - I was a little annoyed at them since purchase, but they are only my 2nd MJ stock so I decided to hold long.  Pretty happy with the last 2 days.

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26 minutes ago, Desert_Power said:

I get that people say that, but the shares they own are still $4 shares. And I understand how you can use option premiums to increase/decrease basis. I just don't get how buying high and selling low ends you with thinking the basis is above either of your purchase prices. I don't really care though, my cost basis is whatever the broker/IRS thinks it is.

You are correct. Technically he has a lower cost basis and a capital loss. He was just explaining that his trades have resulted in him essentially paying $14 for shares 

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Was thinking about @cosjobsand his selloff, trying to think if I should consider doing some of the same.  One environmental indicator may be the potential of the upcoming $1400 stimulus checks.  If these do come, more money into circulation should increase the demand for investments, for at least a period of time.  Once that stimulus runs out, maybe a month or so later, I think I would reconsider a stronger cash position.

:2cents:

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4 minutes ago, GoBirds said:

Anyone else out there understand zero about crypto and are you dipping your toe in any crypto ETF and if so which one?

All I know about crypto is that Mancini is bullish on BTC, so I opened positions in GBTC and ETHE recently.

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Or say someone sees all the excitement in the other thread, and when it hits $10 he finally figures it's for real and buys in. Takes  $10,000 out of his bank account and buys 1,000 shares. Then the price plummets down to $3 in ten minutes, he panics, and decides to sell half to get some of his money back. So he sells 500 shares for $1,500 which he puts back in his bank account. He's left with 500 shares and he's out $8,500 for them. Math says the average cost of the remaining shares is $17, that's what the stock price will have to rise back up to before he breaks even.

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8 minutes ago, GoBirds said:

Anyone else out there understand zero about crypto and are you dipping your toe in any crypto ETF and if so which one?

Been holding GBTC for a while.

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2 hours ago, cosjobs said:

Trimmed: FLGT, SI, RMGCU, JOFFU. JNJ, TYME, BABA, BTAQ, NTRM, TPGY, CLDR, GSAH, MBIO, GDRX, XL

Kept: UVXY, MARA, MSTR, GBTC, DMGGF, UUUUWS, NEVDF, HOFVW, CBBLF, WLDFF, PVH, VYSTR, SFIO

Bought: UVXY

I get trimming risk, and I get what you're seeing with UVXY hovering around $10. I don't get JOFFU, though. You basically have $.65 downside risk. Felt you had too much regardless? Something else?

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16 minutes ago, JAA said:

Was thinking about @cosjobsand his selloff, trying to think if I should consider doing some of the same.  One environmental indicator may be the potential of the upcoming $1400 stimulus checks.  If these do come, more money into circulation should increase the demand for investments, for at least a period of time.  Once that stimulus runs out, maybe a month or so later, I think I would reconsider a stronger cash position.

:2cents:

Can we talk that through a little more? 

The stimulus checks should add to consumer spending, but the percent of people qualified to receive a check who also invest should be pretty small, so would the checks really increase the demand side on investments? 

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21 minutes ago, Bob Sacamano said:

I get trimming risk, and I get what you're seeing with UVXY hovering around $10. I don't get JOFFU, though. You basically have $.65 downside risk. Felt you had too much regardless? Something else?

I didn't want to try and pick the winners/losers, so did a clean sweep. I'll probably get back in many of them by next week. I have a bad habit of leaving profits on the table that I wanted to break.

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7 minutes ago, randall146 said:
29 minutes ago, JAA said:

Was thinking about @cosjobsand his selloff, trying to think if I should consider doing some of the same.  One environmental indicator may be the potential of the upcoming $1400 stimulus checks.  If these do come, more money into circulation should increase the demand for investments, for at least a period of time.  Once that stimulus runs out, maybe a month or so later, I think I would reconsider a stronger cash position.

:2cents:

Can we talk that through a little more? 

The stimulus checks should add to consumer spending, but the percent of people qualified to receive a check who also invest should be pretty small, so would the checks really increase the demand side on investments? 

Isnt this a lot of the growth of RobinHood?

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29 minutes ago, JAA said:

Was thinking about @cosjobsand his selloff, trying to think if I should consider doing some of the same.  One environmental indicator may be the potential of the upcoming $1400 stimulus checks.  If these do come, more money into circulation should increase the demand for investments, for at least a period of time.  Once that stimulus runs out, maybe a month or so later, I think I would reconsider a stronger cash position.

:2cents:

I get what you are saying and its valid. But I figured those checks were a few weeks off and might have a few scares on whether or not they even pass. This isn't a divorce, its a trial separation.

Tbc, I am not predicting a correction of any magnitude. My primary motivation was to solidify profits

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Went into my 3rd MJ stock with BLDV.  I wanted to get into a penny stock with a huge upside.  While this is a huge risky play, Im optimistic this company, which already has over 1mil in revenue and trying to do a stock by-back, will see some significant growth over the coming weeks/months.  I believe this will be a short and high risk hold, but one im not sure I would worry about holding the bag on.

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2 minutes ago, TripItUp said:

It's interesting to me that some are just now considering crypto related equities...was it the Tesla purchase?   Why now?  Why not 6 months ago etc.?

Musk buying legitimized it for the masses and other companies.

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9 minutes ago, JAA said:

Went into my 3rd MJ stock with BLDV.  I wanted to get into a penny stock with a huge upside.  While this is a huge risky play, Im optimistic this company, which already has over 1mil in revenue and trying to do a stock by-back, will see some significant growth over the coming weeks/months.  I believe this will be a short and high risk hold, but one im not sure I would worry about holding the bag on.

I'll ride shotgun on this one. :hifive:

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1 minute ago, cosjobs said:

Musk buying legitimized it for the masses and other companies.

The latter is probably most important. I think within the year, most companies will have a portion of their funds in btc.

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16 minutes ago, Nigel said:
28 minutes ago, JAA said:

Went into my 3rd MJ stock with BLDV.  I wanted to get into a penny stock with a huge upside.  While this is a huge risky play, Im optimistic this company, which already has over 1mil in revenue and trying to do a stock by-back, will see some significant growth over the coming weeks/months.  I believe this will be a short and high risk hold, but one im not sure I would worry about holding the bag on.

I'll ride shotgun on this one. 

IN

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1 hour ago, BigJohn said:

What you’re missing (and what I was missing until I just spent 20 minutes on a scratch piece of paper figuring out) is that you have to factor in the losses for selling your shares short, back into the cost basis of your remaining shares. 
 

500 @ $5.00

minus

200 @ $2.00

You’re recovering $400 of your original cost, but you lost $600 on that trade. 
 

So, you’re remaining 300 shares @ $5.00 also need to include that $600 loss. So you go from a $1,500 total cost basis to $2,100 for 300 shares, which equals $7.00 per share cost basis. 

Thanks for walking through it. I don't have a lot of losses to walk through :coffee:  

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27 minutes ago, JAA said:

Went into my 3rd MJ stock with BLDV.  I wanted to get into a penny stock with a huge upside.  While this is a huge risky play, Im optimistic this company, which already has over 1mil in revenue and trying to do a stock by-back, will see some significant growth over the coming weeks/months.  I believe this will be a short and high risk hold, but one im not sure I would worry about holding the bag on.

I just put in a limit order on this, we'll see if it fills. The cannabis space has really taken off lately, will it continue?

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29 minutes ago, JAA said:

Went into my 3rd MJ stock with BLDV.  I wanted to get into a penny stock with a huge upside.  While this is a huge risky play, Im optimistic this company, which already has over 1mil in revenue and trying to do a stock by-back, will see some significant growth over the coming weeks/months.  I believe this will be a short and high risk hold, but one im not sure I would worry about holding the bag on.

I'm still pimping STMH.  They are vertically integrated and just purchased a delivery platform so they can literally control the entire supply chain from genetics, growing all the way to retail delivery to the consumer doorstep.  I got in at $0.60 but it's still under $1.

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Posted in another thread, but I'm curious how much money is coming into the markets from inheritance?   We've lost 465,000 Americans to Covid and while I'm sure not all of them are leaving a nestegg behind for loved ones, there has to be some sudden windfalls out there for people who weren't expecting them so soon.  With limited options for fixed income out there, how much of these dollars are working their way into the markets?  

Am I off base here?

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1 minute ago, urbanhack said:

I'm still pimping STMH.  They are vertically integrated and just purchased a delivery platform so they can literally control the entire supply chain from genetics, growing all the way to retail delivery to the consumer doorstep.  I got in at $0.60 but it's still under $1.

I tailed you on this one last month, and doubled my position last week - now averaged at $0.70.

I also think it was you I tailed on AYRWF back in Nov, nearing a double on that one. 

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1 minute ago, General Malaise said:

Posted in another thread, but I'm curious how much money is coming into the markets from inheritance?   We've lost 465,000 Americans to Covid and while I'm sure not all of them are leaving a nestegg behind for loved ones, there has to be some sudden windfalls out there for people who weren't expecting them so soon.  With limited options for fixed income out there, how much of these dollars are working their way into the markets?  

Am I off base here?

not enough to make a difference. You would be surprised. People get $ and go spend it  - some of it is hitting the market, but not as much as you would think. 

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3 minutes ago, General Malaise said:

Posted in another thread, but I'm curious how much money is coming into the markets from inheritance?   We've lost 465,000 Americans to Covid and while I'm sure not all of them are leaving a nestegg behind for loved ones, there has to be some sudden windfalls out there for people who weren't expecting them so soon.  With limited options for fixed income out there, how much of these dollars are working their way into the markets?  

Am I off base here?

Interesting theory.  Thanks for sharing.

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5 minutes ago, Angry Beavers said:

not enough to make a difference. You would be surprised. People get $ and go spend it  - some of it is hitting the market, but not as much as you would think. 

Think I'm going to show my twin boys Brewster's Millions this weekend.  Man, what an underrated gem of a movie.  I probably spent more time as a kid fantasizing about what I'd do with this money than I did any of the SI Swimsuit models combined*.

 

 

 

 

 

*Paulina Porizkova excluded.

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6 minutes ago, Angry Beavers said:

not enough to make a difference. You would be surprised. People get $ and go spend it  - some of it is hitting the market, but not as much as you would think. 

Actually spending it is just as good as its pumped into the economy and raises stocks valuations. Its when they save it that there is not effect on the economy

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7 minutes ago, Angry Beavers said:

not enough to make a difference. You would be surprised. People get $ and go spend it  - some of it is hitting the market, but not as much as you would think. 

Exactly, I would argue that inherited money is much more likely to be taken out of the stock market.  In my experience folks that inherited money spend through the majority of it right away.

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19 minutes ago, urbanhack said:

I'm still pimping STMH.  They are vertically integrated and just purchased a delivery platform so they can literally control the entire supply chain from genetics, growing all the way to retail delivery to the consumer doorstep.  I got in at $0.60 but it's still under $1.

IN

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5 minutes ago, cosjobs said:

Actually spending it is just as good as its pumped into the economy and raises stocks valuations. Its when they save it that there is not effect on the economy

Money Markets are up nearly 1 Trillion Dollars year over year.  Lotta cash sitting out there too.

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20 minutes ago, General Malaise said:

Posted in another thread, but I'm curious how much money is coming into the markets from inheritance?   We've lost 465,000 Americans to Covid and while I'm sure not all of them are leaving a nestegg behind for loved ones, there has to be some sudden windfalls out there for people who weren't expecting them so soon.  With limited options for fixed income out there, how much of these dollars are working their way into the markets?  

Am I off base here?

Another twist to this, is that the majority were being supported by entitlements (medicare/social security etc.).

It's a huge boost to the govt, and economy when non-working/producing persons pass.  In addition to the savings/inheritance liquidity mentioned above...govt gets a huge chunk of that too via taxes.

It's a silver lining of sorts...one that we would rather not have of course.

 

Edited by TripItUp
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44 minutes ago, Nigel said:
56 minutes ago, JAA said:

Went into my 3rd MJ stock with BLDV.  I wanted to get into a penny stock with a huge upside.  While this is a huge risky play, Im optimistic this company, which already has over 1mil in revenue and trying to do a stock by-back, will see some significant growth over the coming weeks/months.  I believe this will be a short and high risk hold, but one im not sure I would worry about holding the bag on.

I'll ride shotgun on this one. :hifive:

FYI - the more and more I read is that this will not be a high growth stock, more of a long term slow and steady.  I will be re-evaluating on a weekly basis.  It is up 8% today so ...

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28 minutes ago, urbanhack said:
59 minutes ago, JAA said:

Went into my 3rd MJ stock with BLDV.  I wanted to get into a penny stock with a huge upside.  While this is a huge risky play, Im optimistic this company, which already has over 1mil in revenue and trying to do a stock by-back, will see some significant growth over the coming weeks/months.  I believe this will be a short and high risk hold, but one im not sure I would worry about holding the bag on.

I'm still pimping STMH.  They are vertically integrated and just purchased a delivery platform so they can literally control the entire supply chain from genetics, growing all the way to retail delivery to the consumer doorstep.  I got in at $0.60 but it's still under $1.

Looks like it wants to build some momentum.  Ill keep checking it out.  The more and more I read about BLDV it will be a short ride for the interim MJ gains.

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