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Just now, Todem said:

CNBC in full hard on mode.

 

MARKET SELL-OFF 

LOL these clowns.

A day or two after having Tom Lee on, explaining why we were headed to 3,500. Now we'll get Lasry or Gundlach on today to explain why we'll test March lows. Druckenmiller called the top (oops). 

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Just now, sporthenry said:

A day or two after having Tom Lee on, explaining why we were headed to 3,500. Now we'll get Lasry or Gundlach on today to explain why we'll test March lows. Druckenmiller called the top (oops). 

LOL!!!!! Druckenmiller missed the entire rally. And he was very humble about it. 

We are range bound. Let this market breath a little....again I think it is healthy and we were due for a selloff.

Time to hunt for great stocks today.

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Just now, Todem said:

LOL!!!!! Druckenmiller missed the entire rally. And he was very humble about it. 

We are range bound. Let this market breath a little....again I think it is healthy and we were due for a selloff.

Time to hunt for great stocks today.

It's only 3% though on SPY and say 10% on something like MGM. With the 100% run up some of these travel and leisure stocks saw, wouldn't you wait for a bigger drop before bargain hunting?

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3 minutes ago, Todem said:

Very true. But judging by this market the last two months.....it is throwing a temper tantrum. And the speed that this market moves in now? We could have a 10% correction over two days.....and bam we move higher again with people value hunting. 

Things are in a different world now on the speed of the market. 

The emotional swings are insane......so let’s take advantage of them.

Or, we could have a 10% correction over two days.....and bam, another 20% correction over two weeks.

Hard to say what is a "value" when we have no fundamentals to go on. These "reopen" plays- airlines, cruise lines, casinos, restaurant stocks, etc.- are still way above their lows. Most could get cut in half from here and still be above their lows.

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4 minutes ago, CR69 said:

It's only 3% though on SPY and say 10% on something like MGM. With the 100% run up some of these travel and leisure stocks saw, wouldn't you wait for a bigger drop before bargain hunting?

I am talking bargain hunting on my master list.......and yet I am not seeing it yet. 

We are still quite high here.

XOM looks very attractive today. I will say that. Looking at more stay tuned.

Edited by Todem
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13 minutes ago, Todem said:

CNBC in full hard on mode.

 

MARKET SELL-OFF 

LOL these clowns.

I switched Bloomberg as my main daytime channel weeks ago.  More international talk than I care about, but do like it better than CNBC.

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I grabbed a small amount of a few things right at the open, and now everything is up several % from that.  If it falls more back to that I will grab some more otherwise I will just sit tight.  Putting in a few small limit orders down a few % where stuff is now.  Maybe it all fills while I am taking a little bike ride.  

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19 minutes ago, Todem said:

That was fully expected....how can it not be expected. 

The market is taking a breather today and maybe tomorrow.....as expected, as foretold by many here. Par for the course. 

I'd expect it to trade down today with the market and I was just pointing it out for folks like me who didn't have a position.  I added some BLMN at $10.90 near the open.

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21 minutes ago, humpback said:

Or, we could have a 10% correction over two days.....and bam, another 20% correction over two weeks.

Hard to say what is a "value" when we have no fundamentals to go on. These "reopen" plays- airlines, cruise lines, casinos, restaurant stocks, etc.- are still way above their lows. Most could get cut in half from here and still be above their lows.

That is what stop picking is all about....looking at the financials, industry, moat and determining if something is truly oversold.

That is what I get paid to do. 

 

Fun times.

Edited by Todem
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11 minutes ago, Todem said:

I am talking bargain hunting on my master list.......and yet I am not seeing it yet. 

We are still quite high here.

XOM looks very attractive today. I will say that. Looking at more stay tuned.

XOM was at this level just a week ago.

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23 minutes ago, beef said:

I switched Bloomberg as my main daytime channel weeks ago.  More international talk than I care about, but do like it better than CNBC.

I like their ticker. It always keeps me updated on Gold. Silver and the VIX. I do prefer the talking heads on MSNBC, not for their forecasting, but their personalities. 

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9 hours ago, matuski said:

Asking again.. for the life of me I can't find how it is I am supposed to be aware of the redemption/exercise date on warrants.

The NKLAW I bought on TD were listed with the expiration date of 06/03/2025.  I don't believe there are any others being actively traded out there with different Exp dates.   

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5 minutes ago, beef said:

The NKLAW I bought on TD were listed with the expiration date of 06/03/2025.  I don't believe there are any others being actively traded out there with different Exp dates.   

Nikola can call the warrants at any time which would move the expiry date up to 30 days from the day they were called.

As to how to know when they do that @matuski I'm not sure.  I would just keep tabs on it.  I'm not sure if your broker will alert you (probably not) but if you're following stocks at all I would think it would be hard to miss.

The other option is just to go ahead and redeem them as soon as they are eligible in early July.  Unless you have a ton of them and that $11.50 per warrant adds up to a ton that you want to invest elsewhere it would definitely be easier.

Edited by FreeBaGeL
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35 minutes ago, Slapdash said:

XOM was at this level just a week ago.

Been watching CCL the past few days and they've been down around 7-8% each day.  Figured it had to start looking like a bargain.  Looked at the chart and it's at about where it was 2 weeks ago.  Been quite a climb lately.

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RH trying to bring HTZ back again. I'm not going to have any sympathy for retail when they end up losing their hats. In '99, I could at least have sympathy since lots of folks seemed to be following the IPO train. But buying bankrupt stocks, over and over, then calling Buffett 'washed up.' I find myself playing the Don't Pass Line against RH and the like. 

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47 minutes ago, Todem said:

That is what stop picking is all about....looking at the financials, industry, moat and determining if something is truly oversold.

That is what I get paid to do. 

 

Fun times.

What financials are you looking at? Past years are fairly irrelevant, and most companies have pulled current/future guidance. We're all just guessing what a current/post covid world looks like, no one really knows.

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2 hours ago, jvdesigns2002 said:

In regards to the Canadian Dollar--I'm far more bearish on the US dollar than I am bullish on the Canadian one.  I just think that the Canadian dollar will be far more stable while the value of our dollar will drop for years to come.  Our national debt to GDP ratio is like 20% greater than Canada's and I can see that percentage rising.  I don't think our government printing of currency is close to being done.   I feel like the unemployment/reduced employment picture is far worse than what the last job report indicates.   Lots of large companies made deals with the government for funding with the caveat that those companies cannot lay employees off until September.   In a few months--you'll see more waves of people losing jobs--and I also think that there will most likely be second and third waves of covid going round which could limit how much hiring businesses will do.  I could see the government injecting money into the economy for a while--but my biggest concern is that they actually do it in a way that helps.    

 

Currencies are always a tough game and if you are thinking about going long CAD simply because you are bearish USD, imo that's the wrong way to think about it.  If your call is bearish USD I think you'd be better off trading it vs a basket.

As for USDCAD itself, Debt/GDP is a fairly small part of the equation imo.   As GM mentioned, the Canadian economy is quite resource reliant and is very export focused overall.  Canadians also have a much higher % of household debt relative to the US, on top of more elevated housing prices, meaning the consumption response to lower interest rates is likely going to be more muted compared to the U.S.  As a result, Canada is expected to be heavily reliant on external capital to grow its way out of this downturn and help fund the big deficits it is taking on from its policy response to Covid-19.   A greater reliance on foreign capital in combination with a lukewarm economic outlook and lower for longer interest rates suggests that asset prices will need to fall to attract more capital, and the easiest way for that to happen would be for the currency to fall.

Now, the near term impact of some of these concerns have already been priced in, so at the margin, CAD should do its usual thing and trade positively correlated with risk vs the USD.   But this is yet another reason why trading FX pairs, and FX in general, can be so difficult.

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34 minutes ago, sporthenry said:

RH trying to bring HTZ back again. I'm not going to have any sympathy for retail when they end up losing their hats. In '99, I could at least have sympathy since lots of folks seemed to be following the IPO train. But buying bankrupt stocks, over and over, then calling Buffett 'washed up.' I find myself playing the Don't Pass Line against RH and the like. 

To be fair the people buying HTZ and the ones calling out Buffett are not the same people.

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2 minutes ago, FreeBaGeL said:

To be fair the people buying HTZ and the ones calling out Buffett are not the same people.

You sure about that? https://twitter.com/stoolpresidente/status/1271063591467139079

ETA: Portnoy is literally running a pump and dump. Now that he's moving downstream to penny stocks, he buys it, pumps it, then sells it. 

Edited by sporthenry
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4 minutes ago, sporthenry said:

You sure about that? https://twitter.com/stoolpresidente/status/1271063591467139079

ETA: Portnoy is literally running a pump and dump. Now that he's moving downstream to penny stocks, he buys it, pumps it, then sells it. 

OK but that's different than the Robinhooders you were talking about who are just FOMO chasing everything.

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6 minutes ago, McBokonon said:

WAFU up 355%. Average volume is 54K, today is 38,102,257 (market cap is 43 million). It's just so blatant.

It is. This is absolutely a scam. There’s no ifs ands or buts about it. Now they aren’t even picking a stock like GNUS that sort of had a press release for a new product. It’s now just find a low volume stock and drive it to the moon and leave some people holding the bag.

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4 minutes ago, Bluto Blutarsky said:

$7.30 a good entry for SDC? 

Why do you want to own SDC?

I made some good money trading SDC on its run-up to earnings but I wasn't impressed with the stock itself.  Not great financials, some bad rumors surrounding the company.

Most importantly it's a stay at home stock that is red on a day when stay at home stocks are green.  It's just kind of mirroring the market now like so many other stocks.  So I guess my question is if you're looking for something that mirrors the market why not get a stronger company that mirrors the market?

Of course it will probably blow-up now that I said all that :P

 

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22 minutes ago, beef said:

XSPA #1 at Robintrack right now for the day.  Another "*Nasdaq FSI: *Deficient: Issuer Failed to Meet NASDAQ Continued Listing Requirements" company.

This had a recent 3 to 1 reverse split.  So likely people see the “price jump” and are FOMO like a mofo. 

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8 minutes ago, FreeBaGeL said:

Why do you want to own SDC?

I made some good money trading SDC on its run-up to earnings but I wasn't impressed with the stock itself.  Not great financials, some bad rumors surrounding the company.

Most importantly it's a stay at home stock that is red on a day when stay at home stocks are green.  It's just kind of mirroring the market now like so many other stocks.  So I guess my question is if you're looking for something that mirrors the market why not get a stronger company that mirrors the market?

Of course it will probably blow-up now that I said all that :P

 

Just was looking at a short/midterm bounce back when things open up and they start rolling again.  Thanks for the reply

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@chet is on supervised break this week but he asked me to pinch hit for him today.

#CYDY is having an investor call after the close today and he's hoping some of you will be able to submit a question.  If you're willing to do this, please PM me and I will get you a question.

THX

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32 minutes ago, beef said:

XSPA #1 at Robintrack right now for the day.  Another "*Nasdaq FSI: *Deficient: Issuer Failed to Meet NASDAQ Continued Listing Requirements" company.

I bailed on that yesterday at 1.70 and now it is 4.70.... ugh.  Learning to just hang onto these pieces of crap until the spike back.  

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5 minutes ago, google said:

@chet is on supervised break this week but he asked me to pinch hit for him today.

#CYDY is having an investor call after the close today and he's hoping some of you will be able to submit a question.  If you're willing to do this, please PM me and I will get you a question.

THX

Hi GB.  Good to see you again.  

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10 minutes ago, PennState-JD said:

I bailed on that yesterday at 1.70 and now it is 4.70.... ugh.  Learning to just hang onto these pieces of crap until the spike back.  

I wouldn’t recommend playing around with any of these POC. Good luck to you but unless you are way up in the MLM pyramid, you are likely to get hosed at some point on these dogs.

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@AdamMancini4 (3h)

$SPX Getting its first pullback leg in a month. I've posted loss of 3180 would see 3130 and it was a straight shot down after bulls failed post-FOMC. Key relief bounce lvls today are 3120 then 3070 (main trendline from March lows) to backtest 3180.Very important bulls hold those

Since folks like Mancini. I've also seen 3,000 as a key point in regards to gamma. I.e. dealers will start exacerbating moves below 3,000 and not dampening them as they are now. So seems like at  an important level here. Bears could push below 3,000 and see what happens. 

Edited by sporthenry
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9 minutes ago, Todem said:

PPL nice price here. Boring utility...I know....but that yield is awesome.

I'll take a small bite for a long term hold.  Taking a stock here or there for a small account I want to grow and kind of let my daughters watch and learn about.  This isn't a stock I really see flipping.

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3 minutes ago, Shula-holic said:

I'll take a small bite for a long term hold.  Taking a stock here or there for a small account I want to grow and kind of let my daughters watch and learn about.  This isn't a stock I really see flipping.

This is what I call a set it and forget long term compounder.

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I was basically 100% cash in my brokerage on tuesday.  I am now like almost 50% deployed.  Talk about bad timing.  I wasnt really trying to "time" anything just wanted to get some money in when I saw a little pullback.  Then some more when there was more pullback.

Now I am sad.  I wish I was busier at work tuesday and yesterday so I wouldnt have even looked at any of this stuff

I even thought about some TVIX the other day when it went up a little even when the indexes were up a little.  I literally can not pick something that works.  

Not gonna lie.  This is making me want to sell and then buy at another time.  But history tells me I should Costanza it.

Edited by ghostguy123
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I try not to discriminate when investing, but man, Spirit is such a terrible airline I’d never feel good about owning stock in that company.  Throw what’s sure to be a long and slow recovery for airlines in there, and why would you invest in them over someone like DAL?  

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