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What are you buying today?


LowIQinvestor

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The craziest part is these warrants for the trust preferred income securities traded from .05 to 1.50 (sorry 2.75 while I type LOL) today and they are not even warrants to purchase the common stock.  They are warrants to purchase an 8% income vehicle, kind of like a rights offering.  But you can't short the warrant because there are barely any out there.  They were set to expire but just got extended.  I have no idea how many remain outstanding but it's not much.

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Yea there's definitely a bit of predictability especially in terms of pattern recognition to some of these things. One of the main reasons I like the spac trades.

 

Almost every time it goes like this.

 

1) Run to big name/promoting sponsor (IE Chamath types), 2) deal announcement 3) transfer period between share owners from institutions to retail 4) trend on Twitter/stocktwits 5) to the moon.

 

If you have a bit of a trading sense, its exciting and fun, but its also important to stay near the exit for when the music inevitably stops. I wasnt involved in the market during the tech bubble. But having studied it and just history in general, I never understood the "bubble" comparisons we've been hearing about non stop from many folks over the past decade. However over the past couple months, its basically everything they'd teach in a textbook on the subject. All the red flags are there. They are getting bigger and bigger. Rule in life in to never be the first or last guy at the party...

 

EDIT: grabbed a few BABA today

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I decided on an experiment. Will help with my bubble project.

 

Live like a RH rockstar for a bit. So before heading out to the supermarket to grab dinner, I figured, lets do this. Went to StockTwits. Top trending stock, XL. Lets buy 100 shares. Due diligence? Fuck it. #1 Trending is all the due diligence one needs. If its trending, it must be the shit. Entered market order. Cuz limit order are for pussies. Filled at 31.13. Shut the laptop...didnt want to work too much harder. Got in the car. Peddled around the grocery store acquiring items for tonights stuffed peppers. Headed over next door to the liquor store to get the nights beverages. Drove home. Kicked on the laptops. Sold for $33.17. Definitely a much easier way to make money in the market than all this other bs Ive been doing for years now. Heck, some of my value stocks only do 6% a year.

 

Sounds like the internet has replaced the bucket shops from the early days of stock trading. One on my favourite reads is ‘Reminiscences of a Stock Operator’ by Lefevre (i love historical stuff).

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Reminiscences of a Stock Operator is probably one of the best stock market related books Ive ever read. Livermore was quite the case study. Fascinating fellow.

 

I read it at least 20 years ago, but recall it was quite an entertaining read.

 

Livermore was quite the plunger making, and losing, a fortune at least a couple of times.

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Sounds like the internet has replaced the bucket shops from the early days of stock trading. One on my favourite reads is ‘Reminiscences of a Stock Operator’ by Lefevre (i love historical stuff).

 

I second that, great book and fun to read! Another great read I highly recommend is 'The Crowd' by Gustave Le Bon.

 

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Finally got filled on a handful of MSGE $100 Feb calls.

 

Added a few shares of BABA pre market.

 

Sold this, rolled profit into MSGE Feb $100 calls.

 

Sold all but 15 contracts here. Who says you can be north of 75% of open interest on an illiquid OTM option?

 

 

Also bought some mid January VIX calls, shorted some ARKK, added small amount of AMT and a few NATH.

 

 

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Finally got filled on a handful of MSGE $100 Feb calls.

 

Added a few shares of BABA pre market.

 

Sold this, rolled profit into MSGE Feb $100 calls.

 

Sold all but 15 contracts here. Who says you can be north of 75% of open interest on an illiquid OTM option?

 

 

Also bought some mid January VIX calls, shorted some ARKK, added small amount of AMT and a few NATH.

 

Covered the ARKK and rolled profit into ARKK puts. Bought a few CLPR with some MSGE call proceeds. Gotta keep the NY recovery theme going. Just slide further down the ladder. Also added to ZM short.

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Started some MRG.UN, also added a few LHSIF. Trimmed about 10% of my VIX call position as well.

 

Swapped DD into BRK, added to ARKG short, bought more ARKK puts, sold LHSIF. Picked up a few more CLPR and MRG-UN. Shorted a bit more BYND as well.

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