Investing General Discussion

Hateyou said:

What do you think a good entry point for FTEC is? I pulled all my QQQ and want to dump it into FTEC but not when it’s sitting at the 52 week high and has been ~20% lower in the past few months.

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Here is the chart. the 50 DMA is $100.9 and the 100 DMA is $96.76
I am waiting for a pull back to retest the 50 DMA before buying. Since the stock is right at $100 a share its an easy conversion for percentages. A solid 5% pullback in tech is a decent start, a correction of 10% would be ideal but who knows when that occurs. For a long term hold forever, between the 50 and 100 DMA is an entry point for me but know that it might take a deeper correction after you buy in so be prepared to ride it out. For equivalency sakes, this would put the QQQ in the $290 to $305 range (10% to 5% down).

Blazin said:

I do not adjust the cost basis, the option gets recorded and then if assigned a new entry for the holding with the strike as the cost basis.

The reason I do this is that I have Premium goals every month that I track separately from capital gains from stocks that I hold. So on the other end my call premiums are also recorded separately from the underlining. I do however at the end of the year look at each ticker for how much I made in total between premium collected vs. capital appreciation.

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Update: So Fidelity finished calculating my assignment and it included the premium in my purchase price. I had a $50 strike and it shows me with a purchase price of $49.757

Fogel said:

Jack Ma is still alive

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Nice of them to let him make a video from whatever prison they're holding him in.

Fogel said:

Flat so far today thanks to GHIV, sold for a 5% loss. Also sold my ACTC at 28, it had hit 31 but bounced back down to 28, I'm thinking it'll slowly dip back down until the actual merger. Time to find my next set of spacs.

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I’ve got some money in FUSE as it’s getting a bit of buzz at the moment, but researching others as well.

swayze22 said:

$ZNTE?

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i picked up another 800 shares of ZNTE this morning. Already up 10% since I bought the first block yesterday morning

Fogel said:

Selling my QQQ today to convert it over to FTEC, seems like a good time to sell if it stays like this all day. Big dip in all the big EV players I like like RMO, STPK, and NGA, good time to buy. I bought STPK yesterday unfortunately, already own RMO

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Whats you're reasoning to convert to FTEC?

it’s just a /r/wallstreetbets roach motel where your fellow travelers probably failed HS chemistry

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LOL

Fogel said:

I have both FUSE and ZNTE already. I recommended ZNTE a couple days ago too.

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I’m in. Now for a third perhaps.