The Investment Thread (3 Viewers)

[St. Geezy]

Made some nice money on this BKKT play the past week and a half and cashed out 80% of it. Interesting timing of this article though, one day before earnings. Makes me want to hop back in. https://www.wsj.com/articles/bakkt-once-wall-streets-hot-crypto-play-has-cooled-11645016580

 

[St. Geezy]

In your list, I really like ATER

Yeah...that one seems primed and ready. I'd say right now, AMC and OCGN are my two favorites, though I love them all.

 

[St. Geezy]

ATER quietly making its way up on low volume.

 

[St. Geezy]

Melissa Lee and Adam Aron throwing haymakers on the AMC front....

 

[St. Geezy]

Loving that many of the heavily-shorted securities are all running inversely to the SPY today. Negative beta in action.

 

[Turfie]

Bought a few shares of BB today. Think it gets a bounce soon. Simply because it hasn’t bounced yet.

 

[Turfie]

Loving that many of the heavily-shorted securities are all running inversely to the SPY today. Negative beta in action.

I love seeing that. I think we may start to see real price discovery on the naked shorted stocks soon. The DOJ investigation hopefully is helping.

The price discovery bit can get super interesting. This could be very long drawn out or another Jan-Feb squeeze that we saw last year.

Using GME as an example. It’s not crazy to believe that 250 million shares are owned. 70 million of which are real, the rest counterfeited.

Current share price is about $125 per share.

125 X 250 million = 31.2 billion

31.2 billion divided by 70 million = $445

$445 may be the real share price. But to trim 250 million shares down to 70 million shares in an APE stock is going to be very very difficult. $445 is likely a pipe dream for hedges.

 

[St. Geezy]

I love seeing that. I think we may start to see real price discovery on the naked shorted stocks soon. The DOJ investigation hopefully is helping.

The price discovery bit can get super interesting. This could be very long drawn out or another Jan-Feb squeeze that we saw last year.

Using GME as an example. It’s not crazy to believe that 250 million shares are owned. 70 million of which are real, the rest counterfeited.

Current share price is about $125 per share.

125 X 250 million = 31.2 billion

31.2 billion divided by 70 million = $445

$445 may be the real share price. But to trim 250 million shares down to 70 million shares in an APE stock is going to be very very difficult. $445 is likely a pipe dream for hedges.

Here is the basic fundamental problem with the market though - we are upset about naked shorting, but entities like The Citadel are responsible for keeping the markets liquid...I.E. If I want to buy shares, I am able to buy them no matter what, even if they're essentially sold out.

I am not sure how they get around that predicament and because of that issue, I don't know if a MOASS scenario is likely to happen.

Don't get me wrong, I do believe the price is suppressed relative to its "sold out" status, but is it "$500+ per share suppressed," I don't know. There are definitely legitimate shorts that need to cover, but the excess shares are likely a completely different beast to tackle that may not come with a penalty to a specific entity/entities.

 

[Turfie]

SPY dropping. Will the plunge protection team (the Fed) boost it up again? Happened twice in the last 3 weeks.

Plunge Protection Team (PPT): Definition and How It Works

The Plunge Protection Team is a nickname for the Working Group on Financial Markets, which makes recommendations to the U.S. president.

www.investopedia.com

 

[Turfie]

Citadel mentioned in the DOJ probe

 

[St. Geezy]

So yeah, I kind of did a crazy thing on Friday/Monday with SPCE, buying $5k worth of OTM weeklies for pennies (2,000 contracts, using a portion of my BKKT gains from doing something similar last week on that one).

Virtually never play weeklies, but felt great about the play after learning about the ticket on-sale for Wednesday, knowing it is leading into earnings.

Sold some at $.50 to recoup my investment, sold more at $1.20, and have a good chunk left for tomorrow, but that $5k has already turned into well over six figures in realized gains.

Plan to pocket half, and throw the rest into AMC, ATER, BKKT, OCGN calls, all several weeks out, although those $0.19 calls for OCGN next week at the $4 strike are calling my name I must say. lol

YOLO! (not financial advice)

Big pop on OCGN in after hours today. Let's go!!!

 

[Turfie]

On August 10th, the bio stock CRTX was $120 per share. Right now it's $4.49.

For $1000, on August 10 you could only buy 8 full shares.

Now for 8 full shares you’d spend just under 36 bucks.

 

[Turfie]

I did a free trial of FUBO to watch the super bowl and it was spectacular. Awesome format. Great for sports. Easy as pie to cancel the free subscription too.

I’m watching this one closely

 

[Turfie]

I’d bet my two feet that RICO sees a meme bump on Tuesday. After Rico charges are likely in the works by the DOJ

 

[St. Geezy]

I’d bet my two feet that RICO sees a meme bump on Tuesday. After Rico charges are likely in the works by the DOJ

There's been a pattern of runs occurring about a week before earnings dates on the heavily-shorted securities, so with the AMC E.R. coming on March 1st, a bump across that sector in the middle part of this upcoming week sounds about right in that regard. Not to mention the Batman movie coming out next week as well to provide an additional "catalyst" narrative.

And once AMC blows, so should GME, and that could very well unleash several others as a domino effect.