Investing General Discussion

Blazin said:

I sold my SPY trades on that spike, I am going to keep the following longs for now KO, JPM, LMT, MSFT, PEP, KO, JNJ, IWM, and VZ. Don't expect to trade much at all unless I see a real juicy setup. I expected a rally this week but I'm surprised how fast people caught offsides are pouring in. Volume will drop off now over 3500, lots of different points the market will try to defend during consolidation. We are moving too fast here from too low to get through to new highs and hold them without consolidation.

Just spit balling what I'm seeing, there is a set up through Nov for us to establish this 3500s as the new range and then see if a Christmas rally can push it to 3700. I have some doubt on this being successful in the short term because we have a many year channel that traps us. The slope of that trend gives room to about 3650 by year end and 4000 by 2021 YE. Channels aren't gospel, they are resistance, if we are going to have a 15-20% return next year we have to escape this channel and establish a new one for the second leg of this secular bull market. The over stimulation, fiscal and monetary, may be the necessary ingredients for this to happen. If it does PEs will grow to nosebleed levels and it will be even more like bizarro world than what we have seen so far. The market expansion and subsequent inflation will require the Fed to finally step in and choke it to death.

Spoiler

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Remember all the necktie guys on CNBC back in the Spring telling us how a V-shaped recovery was impossible?

Now that the election is mostly over its time to get back to selling covered calls on DAL on today's spike. Went out 2 weeks at $36 strike. Got 39 cents on the premium.

When the market is exploding upwards but you are an Oil Major..

Blazin said:

Obviously oil products aren't going to go away but the trend for the next 50 yrs is clear. I want one of the majors to come out and take the risk and say "By 2030 Oil will be less than 30% of our revs, our div is cancelled, we won't be profitable for the next 5 yrs" They would double in no time at all, they have the cash to innovate but obviously completely lack the vision to change. Just going to sit there watching their Rev erode and the only thing they can think to do is overpay for a smaller competitor now and again to try to hide the bleed. They are suppose to be ENERGY companies not Oil Companies.

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They are this generation's Kodak.

I expect PA is going to magically declare they found enough Biden votes to declare the state for him at their just announced 5pm press conference (so they have a declaration before the case can hit SCOTUS). Not saying this to be political, saying it because when they declare it this will give Biden the "victory" in electoral votes and I expect the market to jump on the news. Just my opinion.

Gogo Elon

SQ
I like the company but Dorsey is such a worthless piece of shit as a CEO that I wont buy the stock.

Square third-quarter profit tops estimates, shares up 7%​

By Anna Irrera and Niket Nishant


Nov 5 (Reuters) - Square Inc(SQ) shares rose 7% in extended trading on Thursday after the company's third-quarter profit beat estimates, helped by growth in online payments and its consumer business Cash App.


Excluding one-time items, Square earned 34 cents per share, compared with analysts' average estimate of a profit of 16 cents per share, according to IBES data from Refinitiv.
The company, which is best known for its signature credit card readers that enable small businesses to turn smartphones into payment terminals, saw payment volumes rebound in the third quarter.
Square had seen gross payment volumes decline earlier in the year, as small businesses were forced to close their doors because of coronavirus restrictions.
The company, led by Twitter Inc(TWTR) Chief Executive Jack Dorsey, processed a total of $31.7 billion in payments in the third quarter, up 12% from a year ago.
"We have seen strong growth in our online channels and we saw that continue into October as well," said Square chief financial officer Amrita Ahuja on a call with journalists.
In international markets, seller payment volumes grew 46% in the third quarter of 2020.
Square's lending business has been struggling to recover from the impact of the pandemic. Square Capital facilitated approximately 35,000 loans in the third quarter, worth $155 million, down 72% from last year.
Still, investors have been very optimistic about the company's prospects, with the stock rising more than 178% since the start of the year.
Investor excitement has in part been driven by the success of its fast-growing consumer business Cash App.
Cash App gross profit was $385 million in the third quarter, up 212% since last year.
The company has been adding services to the digital wallet, such as bitcoin and stock trading.
"We have seen strong adoption across the Cash App ecosystem, including our stock brokerage product, which has seen the fastest adoption of any product to date," Dorsey said on a call with analysts.
Like other digital payment companies, Square's consumer arm has benefited from coronavirus lockdowns, which led more individuals to transact online.
Square's net income rose 24% to $36.5 million, or 7 cents per share, in the quarter ended Sept. 30.
The company said revenue in the quarter more than doubled to $3.03 billion, beating estimates of $2.07 billion.

BIIB stock halted for pending news... My guess is the FDA decided that maybe their alzheimer's drug isnt ready for primetime and the stock is about to plunge?

PLTR up almost 3% at the early open

Fogel said:

Hanes got hammered, had good sales but still dropped 18%. Might be a good time to jump in? Also has a 4.5% dividend at its current price

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Speaking just from my painful experience, be careful on those big drops on earnings misses. Sometimes there is a reason for that drop. Also there is a phenomenon called earnings drift, where for days/weeks after a stock reports earnings the stock continues to drift in the direct of the report day's movement.

Remember that guy in WOW who always put his items on the Auction House for 10 million gold? You know, you run up needing that one piece of tin ore for a combine and there is only one for sale at 1,000,000 gold? Yeah I found that guy and he plays the stock market...

Sanrith Descartes said:

BIIB stock halted for pending news... My guess is the FDA decided that maybe their alzheimer's drug isnt ready for primetime and the stock is about to plunge?

PLTR up almost 3% at the early open

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PLTR going parabolic on decent volume in the pre-market +4.25% on half a million shares. I wonder how much of this is based on their contact tracing work they are doing for the government?

edit: +6.5% now
edit: +10.5%, broke through $13
edit: +12.5% and finally paused to catch its breath