Investing General Discussion

Rangoth

Rangoth

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So i Had all the pot stocks on watches and when they got low and all the MDA started to converge(20/50/100/200) I picked up some shares of each. Nothing to break the bank as I’m like 90% long term investor(buy and hold while maybe selling some CC) but approx. 5k total mixed in CGC, ACB, and VFF. they are all up about 50% lol due to some probably fake news about the fed legalizing pot. I did NOT expect that. I just figured they hit the lows that match their business expectations and it was supposed to be a mid-long term play of 1-2 years. Figured if I made that 50% in a year I would crush typical market and low risk(5k, not low risk in stock sense) and it is one of those things that helps me practice reading charts and signs better.

anyway, not meaning this to be a brag post(can show proof if needed), BUT…..I did want to post a Reminder to all that US options can be exercised early. /sadpanda. I sold covered calls on CGC when I saw it spike up, thinking I could either 1.) cover 30% of my cost basis when it inevitably crashes or 2, buy it back at some fraction of the cost for a profit, no different than I would with SPY.

long story short, had oct. CC off .50$ on CGC and I just got executed today! No time for me to really plan or think about. I have no regrets as my cost basis was .49 and I sold it for .38, but man… a month out!
for perspective it is at 1.20 something right now and dropping like a brick. back Luck I guess!

edit: “sold it” meaning the CC, so .49+.38=.87 final sell price, why have no complaints
 
Sanrith Descartes

Sanrith Descartes

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Rangoth said:
So i Had all the pot stocks on watches and when they got low and all the MDA started to converge(20/50/100/200) I picked up some shares of each. Nothing to break the bank as I’m like 90% long term investor(buy and hold while maybe selling some CC) but approx. 5k total mixed in CGC, ACB, and VFF. they are all up about 50% lol due to some probably fake news about the fed legalizing pot. I did NOT expect that. I just figured they hit the lows that match their business expectations and it was supposed to be a mid-long term play of 1-2 years. Figured if I made that 50% in a year I would crush typical market and low risk(5k, not low risk in stock sense) and it is one of those things that helps me practice reading charts and signs better.

anyway, not meaning this to be a brag post(can show proof if needed), BUT…..I did want to post a Reminder to all that US options can be exercised early. /sadpanda. I sold covered calls on CGC when I saw it spike up, thinking I could either 1.) cover 30% of my cost basis when it inevitably crashes or 2, buy it back at some fraction of the cost for a profit, no different than I would with SPY.

long story short, had oct. CC off .50$ on CGC and I just got executed today! No time for me to really plan or think about. I have no regrets as my cost basis was .49 and I sold it for .38, but man… a month out!
for perspective it is at 1.20 something right now and dropping like a brick. back Luck I guess!

edit: “sold it” meaning the CC, so .49+.38=.87 final sell price, why have no complaints
Click to expand...
Yeah its something to keep an eye on. A while back I had CCs on some T stock and I was looking to be fine as expiry approached and totally forgot about the ex-dividend date. Someone exercised early to grab the difference between dividend and strike. I think it was like 20 cents net.
 
Blazin

Blazin

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So with that spike down this morning, between today's low and yesterday's low is my exit point. Expect some volatility today. could get pretty trappy
 
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Haus

Haus

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So now my question is how far do I play chicken with a hyperbolic curve....
1694786889143.png


I've been accumulating bits at a time, DCA on it is around $32. Originally in my "Things I plan on holding long term" bucket, but that curve is making me debate some profit taking.
 
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Blazin

Blazin

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I don't have insight on Uranium market, but I don't give back big trade wins. I'd probably protect that trade around the 40-41 lvl . If it's truly long term 3-5yrs+ investment then best to not even be looking at it.

...edit I'm out SPY
 
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Jysin

Jysin

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QQQ dropped below the 50D SMA / 20D EMA and a pivot on top of one another. They reclaimed for now, which is bullish. If they drop again, I will trim some positions. Im not spooked quite yet.. finger on trigger though.
 
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Blazin

Blazin

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SPY seems to be really struggling with the 50d but also finding support at 20d we are sandwiched right between them right now. I'm choosing the more nimble neutral position while this resolves. Long term bonds taking it on the chin. The vix is apparently on vacation , banks went from red to green now. Going to be an interesting day.
 
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Blazin

Blazin

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Look at this freaking convergence in junk

Screenshot 2023-09-15 103051.jpg


When this stalemate ends the move is going to be epic
 
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Jysin

Jysin

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VIX is a broken metric, which is based on 30D+ options activity. The absolute surge in 0DTE activity has made it useless. Until some real fear sets in and some players start hedging longer dated options, VIX is going to be muted. There are some great writeups on this by Bloomberg, Goldmans, etc.
 
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Haus

Haus

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Blazin said:
I don't have insight on Uranium market, but I don't give back big trade wins. I'd probably protect that trade around the 40-41 lvl . If it's truly long term 3-5yrs+ investment then best to not even be looking at it.

...edit I'm out SPY
Click to expand...
My take on the Uranium market is that in general until we have one of those "evolutionary leaps" in photovoltaic solar the one really viable energy solution long term is still going to end up being nuclear. As such URNM seems to make a good general bet on that market. Looking over the longer term it has actually been in a "descending peak" pattern since around late 2021, but this seems to be breaking that pattern (for the TA tea leaf readers around...)

1694788540295.png


Right now it's in the portfolio I have for "things I think of as longer term plays", but at the same point with my ongoing "moving to the country, gonna eat me a lot of peaches" plan of buying land away from town to build on this portfolio is in the list of things I would liquidate to buy that land if the right smokin hot deal came along on the right acreage. Probably going to let it ride, but seeing that rocket taking off has me contemplating.
 
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Blazin

Blazin

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You're thinking is probably good as a play for the next 10 yrs that could out perform, but I really do think you should try to avoid looking at LT plays don't let your emotions from ST moves change your LT plan.
 
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Blazin

Blazin

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That strengthening attempt led by banks is crumbling. Breadth looks bad.


Healthcare clinging to green
 
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