Discussion ***Official*** 2020 Stock Market Thread

[FelixDeCat]

was going to buy tqqq (leveraged long qqq) at closing and sell tomorrow when the Cat Bounces, maybe at +15% and make a quick buck.

but it shot up like nuts in the last 5 min.

Bought three 3/27/20 $35 TQQQ calls , hoping to make a quick buck. If Im wrong, oh well.

 

[JEDI]

Bought three 3/27/20 $35 TQQQ calls , hoping to make a quick buck. If Im wrong, oh well.

View attachment 18333

considering tqqq ended at $39 today, you're already up.
and if history is going to repeat itself, the market is going to open +5% tomorrow because of todays 4digit dow drop.

congrats on printing $!

 

[FelixDeCat]

considering tqqq ended at $39 today, you're already up.
and if history is going to repeat itself, the market is going to open +5% tomorrow because of todays 4digit dow drop.

congrats on printing $!

As you can see, I take very small bites. Its the only thing that saves my ass from my own stupidity!

 

[JEDI]

As you can see, I take very small bites. Its the only thing that saves my ass from my own stupidity!

if you sold at tqqq=$39, how much profit would you make per contract?
$4 x 100 = $400/contract?

 

[ponyo]

I might buy some VIX April puts tomorrow. Nothing big. Just some lottery tickets. Risk/reward looks pretty attractive.

 

[FelixDeCat]

if you sold at tqqq=$39, how much profit would you make per contract?
$4 x 100 = $400/contract?

Each point is $1 x 300. So far $852 or 50.44%. This assumes futures dont fall near the open, which knowing my luck, they will!

 

[FelixDeCat]

I might buy some VIX April puts tomorrow. Nothing big. Just some lottery tickets. Risk/reward looks pretty attractive.

TVIX?

 

[JEDI]

Due to some completely lucky timing on my part both my wife and I are sitting on almost 100% cash for our retirement. I'm seriously looking at putting in a big buy on a 3x oil ETF and riding that for a bit. Demand will be low for a bit, but it will eventually bounce back.

becareful about holding 3x leveraged oil.

right now, oil is up 10%.
both 3x long AND short are down. (-6%, -3%)
WTF?

why is 3x long down when oil is up huge?
and it's down MORE than the 3x short

 

[JEDI]

im just going by past history this month.
everytime there's a 4 digit dow drop, there's at least a 5% gain at open the next day.

5% x 3 = 15%. sell tqqq at 9:35am for a quick buck.
but it shot up like 10% in the last few min of trading today, making tomorrows profit play too risky for my taste.

and overall, I see this for the rest of the month:

glad I didn't pull the trigger on tqqq.
today's open broke the cycle of the dow opening +5% when it dropped 4figures the previous day.

dow opened negative this morning.
the slide continues.

and I can see it getting worse when the unemployment #s come in.
LOTS of service jobs (restaurant/retail) are unemployed right now

 

[FelixDeCat]

5000 nymt

Edit-hated to flip but did

 

[cytg111]

Dead cat dead?

 

[ponyo]

Sold all my TSLA shares at $434. Doing nothing with puts I shorted.

 

[brianmanahan]

WSJ op-ed suggestion:

1. flatten the curve, then
2. suspend minimum wage for 2 years because people will be desperate for work and businesses will be short on cash

 

[JEDI]

WSJ op-ed suggestion:

2. suspend minimum wage for 2 years because people will be desperate for work and businesses will be short on cash

if that happens, a lot of workers living in Blue states would make out because they have $15/hr min passed by the state or city.

would you like fries with that?

 

[ponyo]

Sold another May 15 $350 TSLA put for $65. Buying TSLA at $285 in about 2 months? I'm comfortable with that. I had order for $76.20 but missed it by like 30 seconds before the explosion upward this morning. So I had to chase and take $1k less but that's fine. I want to short more puts but I will exercise discipline and wait for lower prices and conserve my powder.

 

[ponyo]

Sold yet another May 15 $350 TSLA put for $55. Now I've sold 10 puts in total for around $83,000 or so in premium. If on May 15, TSLA is above each of the put strike price I sold, I get to keep $83,000. If TSLA is below the put strike price, I have to buy it at that strike price. With the premium I collected by selling the put, my average price for the 1,000 shares should be around $300 or so if I have to buy. I want to sell 5 or 6 more puts to collect over $100k in premium but I'm going to wait for another big down day. I'm sure we'll get plenty in the next 2 months.

 

[ponyo]

I went on Apmex to see how much they were selling silver and platinum coins right now. Silver spot is little over $12 and they want like $24 for 1 oz American Silver Eagle. lol. 100% premium. Platinum spot is little under $600 and you can't find any platinum to buy for reasonable price. They'll sell you 1 oz American Platinum Eagle but they want $800 for it or $200 in premium or 33% in premium. Ridiculous. They pulled this same shit during the 2008 housing meltdown. They claim they sold all these metals and now they're out of stock but the reality is they pulled most of the inventory off their site. They claim they fully hedge metal prices but none of these companies really fully hedge. So they don't want to sell their metals at a loss from where they bought it. If they were fully hedge, they would but like I said, none of these companies are fully hedged.

 

[brianmanahan]

I went on Apmex to see how much they were selling silver and platinum coins right now. Silver spot is little over $12

holy crap i had no idea, last i knew it was over 15$

 

[cytg111]

So TSLA tomorrow with the shut plant?

 

[ponyo]

holy crap i had no idea, last i knew it was over 15$

Same thing as 2008 when silver went to $8 when it was at around $18 before. Physical silver premium skyrocketed up to like $10 an oz just like now. Then in less than 3 years, silver went to almost $50 from $8. Maybe history will repeat itself.

In time of panic, people sell anything of value to raise money and meet margin calls. Gold and silver are one of the first things people sell.

 

[ponyo]

So TSLA tomorrow with the shut plant?

Priced in bro. Look at the after hour action after the announcement. Stock fell but is stabilizing and moving back up. I was waiting for this announcement. Good to get this news out of the way. Fear of the unknown is worse than knowing. Very similar to this CORVID-19 virus itself. Fear of the virus is causing more damage than the actual virus.

 

[FelixDeCat]

holy crap i had no idea, last i knew it was over 15$

Good luck finding any government made silver at that price. All the local shops are empty of ALL government gold and ALL government silver. Ampex only has singles and rolls of 20 Silver Eagles go for $26 each:

Buy 2020 1 oz Silver Eagles (20-Coin MD Premier + PCGS FS Tube) | APMEX

2020 1 oz Silver Eagles (20-Coin MD Premier + PCGS FS Tube) | Largest selection & fast free shipping on orders $199+.

www.apmex.com

Cheapet roll of 20 Eagles are $20.90 each sipped on Ebay:

Silver Bullion Coins for sale | eBay

Get the best deals on Silver Bullion Coins when you shop the largest online selection at eBay.com. Free shipping on many items | Browse your favorite brands | affordable prices.

www.ebay.com

I only buy government bullion and I dont buy rounds.

 

[ponyo]

Metals are going to take off in the next couple of years just like what happened after 2008. People will worry about all the free helicopter money sent out to everyone. So far, we're repeating 2008 playbook but in bigger scale. Maybe the future move up in gold and silver will be bigger as well. Enjoy the low metal prices while you can if you can find any physical for sale at reasonable prices.

 

[s0me0nesmind1]

Futures up this morning based on "optimism out of Europe over planned stimulus"

lol stimulus or not - the next 2 weeks are going to look hideous. I don't know why people would be optimistic about this shit when we still have no clue how bad it's going to get.

 

[shortylickens]

If I had cash in the bank I'd be investing in all these stocks which are shit right now. I do not have available money. So I will miss out and I'm betting a bunch of smart mother fuckers will make a killing.