Sanrith Descartes
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Investing General Discussion
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Sanrith Descartes
Von Clippowicz
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Pops
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On March 23, 2020, 160,000 shares of common stock of Targa Resources Corp. (the “Company”), par value $0.001 per share (“common stock”), owned by Rene R. Joyce, a director of the Company, were sold pursuant to an involuntary margin call effected by Mr. Joyce’s broker. Following the sale, Mr. Joyce continues to beneficially own approximately 906,871 shares of common stock, including previously granted unvested stock-based compensation, 795,642 of which remain pledged. Given the recent volatility in the capital markets, it is possible that additional involuntary sales effected by Mr. Joyce’s broker could occur. No other directors or executive officers of the Company have any common stock pledged against margin loans.
Ahh margin how I love thee. Monday at the fucking low.
Ahh margin how I love thee. Monday at the fucking low.
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Sanrith Descartes
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Don't allow greed to blind you. Hard to pass up 100% profit. Pigs get fat. Hogs get slaughtered.
Or it rises to 80. Nobody truly knows.
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Pops
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TSX flirts with bull market in 'welcome relief rally' after crash - BNN Bloomberg
"Trying to pick a precise bottom is a fool’s game, but we like the prices we’re seeing across a lot of stocks today and think intrinsic values, which stock prices follow in the long term, are higher than current prices. With that said... This is not the time to be a hero and blindly buy all of...
Haha. Speaking of technicals. The Canucks are in a bull market.
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Sanrith Descartes
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Margin is like sex with a crack whore. Yeah it can probably feel good for a bit, but in the end you will probably regret it.
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Sanrith Descartes
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As of today I am actually green on 6 of my trades since the crash. AAPL, LMT, MSFT, SBUX and UNH WMT. I have a handful within 2% of even.
My dogs (double digit downs) are DIS, JPM, M and XOM. I owned M and XOM pre-crash. DiS and JPM I just started buying too early.
The rest of my stuff is single digit downs.
My BA calls have went from down 80% to down 15%.
I turned profits on RCL calls and TLT puts (both closed positions).
My dogs (double digit downs) are DIS, JPM, M and XOM. I owned M and XOM pre-crash. DiS and JPM I just started buying too early.
The rest of my stuff is single digit downs.
My BA calls have went from down 80% to down 15%.
I turned profits on RCL calls and TLT puts (both closed positions).
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Furry
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It'll be interest to see what kicks the recession back into gear. I did some research into how the fingers of REITs and similar holdings are playing in the markets.
MBS market is in turmoil right now. Lots of hand slapping going around with organizations that use them as their main security, and one reason the REIT market has been particularly scary. For now, it seems most banks have declined to issue margin calls for plummeted valuations, but I really can't see banks keeping this generosity going and exposing themselves to that much risk if things keep looking bad.
MBS market is in turmoil right now. Lots of hand slapping going around with organizations that use them as their main security, and one reason the REIT market has been particularly scary. For now, it seems most banks have declined to issue margin calls for plummeted valuations, but I really can't see banks keeping this generosity going and exposing themselves to that much risk if things keep looking bad.
Big Phoenix
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Furry
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I think we'll stay pretty optimistic until the end of next week or so, but short term markets are hard to predict. Could implode by the end of today, or we might get as much as 3-4 weeks of optimism. I'm still positioned 100% cash and govies. Would be nice to profit on this upswing, but I'm sticking to my original plan.
Sanrith Descartes
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Apparently markets were expecting worse than the worst ever. Crazy.
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Blazin
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My complete guess read of it was that anything less than 6M was going to be a rally. The fear was really elevated, the markets guess for next week is going to be hard to read.
If we top out at 8M or so I think the market will take that in stride and start responding to the speed it levels out and if virus has begun decline. Mid April will remain a pivotal time for gauging the scope of the damage.
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Blazin
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Yeah my brother played it, but I didn't want to touch it. The market was expecting the govt to take an equity stake. The fact they got the bail out without any real pain attached has people jumping back in. There are still so many unknowns with BA, it is just a bet that somehow those things will resolve and it will be higher in the future. (Probably not a bad bet, but ride could be bumpier than I want to participate in)
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Pops
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AMD did hold nicely. I used to say, don't sweat it there's always another bus. Or reentry point. Now you have cash.
Furry
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TBH, I think any bailout being secured by an equity stake is completely reasonable. Make the gov shares non exchangeable, and make it mandatory that the company buy back gov stocks (no refusal allowed) before any other stocks. Stock prices are deflated, so you could have the equity stake come at a time delay or high gov premium. It's a fine compromise. Yes it does reek of socialism, but so does bailing their retarded asses out in the first place.
Big Phoenix
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Today it did, yesterday it dropped $3 in 30 minutes. That combined with expected bad reaction to today's numbers made me eject before close.
Blazin
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I do enjoy that they are bailing out Warren Buffet (BRK) with the airlines. BRK has the cash for the airline bailout and then some, so why did it have to come from the govt? Nobody even forces them as majority shareholder to at least get in front of a camera and explain why they can't meet the cash need.
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