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

[FelixDeCat]

Agree. There wasn't much reason to believe it shouldn't fall back below $4, and just when it looked like it was about to, it soars.

Guess I'll ride some puts back downward.

I think shorts hit it hard the past two days along with new "longs" panicking and dumping. Yesterday I bought 4000@5.13 and dumped at 5.20, not much profit. I was hoping for $5.50, but it starting going back down so I figured I better book some profit than no profit.

Today might simply be the stock responding to the overall market rally and "vaccine hopes", etc. Hard to say whats going on otherwise.

 

[FelixDeCat]

Oh man, my first dip into stock trading...

Last night i saw the post, thought maybe i should try it too (Thought I could make a quick buck) This morning opened an etrade account and purchased 50 shares. The asking at the time was $4.65, so I thought ok lets do it.. and gone in... now it is down to $3.

QQ

Sorry to hear that. My 20 years of daytrading experience says dont be late to the party unless you plan to hold those shares until they payoff. There is a chance it could see $5 again, not sure when though. Kind of like my CCL shares I paid $15.50 for then it falls to $11.

At least its back to $14. I believe CCL will see 20-50 dollars, but it may take years. Those two small cash accounts were up really big this year, so I dont care how long I have to hold. It will come back.

 

[IEC]

@FelixDeCat The headliner at the WSJ agrees with you: "U.S. Stocks Advance on Recovery Hopes"

 

[FelixDeCat]

And finally.....my daily "what pisses me off" post.......

I've been watching Hertz (HTZ) and Avis (CAR) for a while. When the economy was good these were both high flying stocks but they use a lot of debt to keep new cars in inventory to rent and eventually sell. When the economy goes south and people arent renting, they get into trouble.

1) Hertz has already floated the prospect of bankruptcy and the stock hit a low in the mid $2's, its back up on recovery hopes. They have their second debt waiver date scheduled for 5/22/20. If they dont get a waiver, expect a Chapter 11 filing. If they do then expect it to be flat until things really turn around. The 52 week high for Hertz is $20.85, current price $3.00

2) Avis has fallen as well due to the same problems faced by Hertz but they have managed their debt situation much better so the stock has fared better. Avis was hovering around $12 but fell as low as $9.90 last week before jumping back up. The 52 week high for Avis is $52.98!!

I bought 900 shares of CAR for a trade @ 11.62 but later sold for a loss @10.80 as it seemed to be headed back to $9.90.

Today Avis (CAR) is trading for $15.30. If things get back to normal, CAR might do well in the long term.

....it just pisses me off the market took my shares at $10.80.

 

[s0me0nesmind1]

Pier 1 is next in line for retail bankruptcy.

I predict that unless people get back to work and start going out in public again in the next month, we will see 50+ bankruptcies from well known big retailers and other big companies (restaurants, etc.)

 

[JTsyo]

Pier 1 is next in line for retail bankruptcy.

I predict that unless people get back to work and start going out in public again in the next month, we will see 50+ bankruptcies from well known big retailers and other big companies (restaurants, etc.)

Pier 1 is shutting down. Any company that was weak at the start won't survive until things get back to normal.

 

[dasherHampton]

I checked on my IQ calls. I forgot they're at $25. I thought they were lower.

It'll only cost me $30 to buy them back, which I will do tomorrow. I can sell $18s for $726. I don't think IQ will even make $18.

 

[JEDI]

2.4M more people file for unemployment, making it 39M total.
yet the market is basically break even

 

[s0me0nesmind1]

Millions miss their credit and car payments... But DONT WORRY GUIZ! We got this! Stay at home for another 6 months.

Millions of Americans Skip Credit-Card and Car Payments

As coronavirus cases surged in the U.S. and businesses shut down, millions of people told their lenders they wouldn’t be able to pay their bills.

www.wsj.com

 

[FelixDeCat]

Sorrento back at $5, CAR hit $17, QQQ targeting 221

Bought 1500 CCL, short 5/29 $14s

 

[dasherHampton]

I took my first step towards diversification today by selling some ABBV puts. Granted, they're at $75 and unlikely to hit but I really think the writing is on the wall for traditional energy holdings over the next 5-10 years. They're not going away any time soon but their value and returns are going to slowly decline.

I'm going to start getting more aggressive selling puts on non-energy stocks that return a decent dividend. I've been hiding my head in the sand and putting it off for too long.

I also day traded a bit and made a few hundred bucks off of Facebook. Sometimes I miss the juice. It can be exciting.

 

[FelixDeCat]

Dasher, what do you think of this?

Bill that could delist Chinese companies from U.S. stock exchanges to see ‘swift passage’ in House, analyst says

Momentum is building for the House of Representatives to approve sweeping legislation that could ultimately bar many Chinese companies from listing shares on...

www.marketwatch.com

I dont trade Chinese stocks as a rule, but I know you do. With this kind of legislation making progress in the House (Senate version already passed), its probably more likely than not to pass. Baidu has threatened to self delist their shares in protest:

Baidu is considering delisting from the Nasdaq amid tensions between U.S. and China: report

Baidu Inc. undefined is considering delisting from the Nasdaq exchange as it deems its stock to be undervalued, according to a Reuters report Thursday. The...

www.marketwatch.com

 

[dasherHampton]

People have been taking about it but to be honest: I haven't read it and don't know exactly what the details are. So basically Chinese companies will have to open their books if they want to raise money here?

I would have been much more worried a year or two ago when I had a lot of BILI and JD, plus some smaller holdings. Now I just have those IQ shares.

I did buy back the IQ options today. I'm trying to decide whether to leave the shares alone, dump them, or sell some more calls. IQ did recover a bit from its lows today but its back down again after hours. 9/18 20 calls would be worth like a grand if I sold on all of the shares. I'm just not sure what's going to happen with all of this.

 

[FelixDeCat]

I think its mostly headline risk of being lumped in with all the other Chinese companies and the negative headlines. Being that many Chinese companies do not practice the same transparency rules we do, many may be not be able to comply. Maybe you can research how much IQ is in compliance and whether they will be able to remain listed.

 

[zinfamous]

Pier 1 is next in line for retail bankruptcy.

I predict that unless people get back to work and start going out in public again in the next month, we will see 50+ bankruptcies from well known big retailers and other big companies (restaurants, etc.)

Didn't they declare bankruptcy a year or two ago? I know they shut down their finance/purchasing arm. ...or is that how companies can just claim like, 10 bankruptcies and just keep going?

 

[dasherHampton]

I think I'm dropping IQ today. Sucks to take a hit but what can you do? I have to figure out where to stop it. $15.50 maybe?

Sure, it might get back up to $17 or $18 eventually but is a grand or two really worth the risk of a lightning selloff back down under $15 (or worse)?

No more Chinese stocks for me. Not for now at least. Probably ever.

 

[FelixDeCat]

Bought a little NNDM. Good chance it sees $4+ in the next 30 days.

 

[IEC]

SRNE fighting to stay under $5.

Wish they'd hurry up and consolidate back into the $3s so I could open a position.

 

[FelixDeCat]

Didn't they declare bankruptcy a year or two ago? I know they shut down their finance/purchasing arm. ...or is that how companies can just claim like, 10 bankruptcies and just keep going?

Not only did Pier 1 file for BR, they have subsequently converted from Chap 11 to Chap 7. The only thing that that may survive is the IP and trade mark by year end. The stores are history.

 

[FelixDeCat]

SRNE fighting to stay under $5.

Wish they'd hurry up and consolidate back into the $3s so I could open a position.

I think it will be stuck in a range of $4-$5. Its a shame the stock doesnt have weekly options.

 

[FelixDeCat]

Hertz apparently succumbs to Corona Virus....

Hertz Files for Bankruptcy as Covid-19 Brings Travel Industry to a Standstill

With the travel industry slammed to a standstill amid the pandemic, Hertz’s revenue streams vanished nearly overnight.

www.barrons.com

Stock crashes 43% after hours..

Founded in Chicago in 1918 and originally known as Rent-a-Car Inc., Hertz opened its first airport car rental facility at Midway Airport in 1932. The company's owners have included RCA Corp. and later Ford Motor Co., which sold Hertz to a buyout group led by Clayton Dubilier & Rice in 2005 for $5.6 billion.

 

[s0me0nesmind1]

Hertz apparently succumbs to Corona Virus....

Hertz Files for Bankruptcy as Covid-19 Brings Travel Industry to a Standstill

With the travel industry slammed to a standstill amid the pandemic, Hertz’s revenue streams vanished nearly overnight.

www.barrons.com

Stock crashes 43% after hours..

Is someone keeping track of a bankruptcy counter? Heh

Either way with all the shit that is about to go down I just have to wonder what the correct action is... Let them fall, which will only lead to an acquisition and an even bigger monopoly... Or bail them out I guess?

 

[JEDI]

Hertz apparently succumbs to Corona Virus....

Hertz Files for Bankruptcy as Covid-19 Brings Travel Industry to a Standstill

With the travel industry slammed to a standstill amid the pandemic, Hertz’s revenue streams vanished nearly overnight.

www.barrons.com

Stock crashes 43% after hours..

i guess you're not buying at $1 then?

 

[s0me0nesmind1]

This sums up my thoughts of the market right now pretty well....

It's a perfect storm of stupid in the stock market right now

New investors are storming an erratic, uncertain market while all of planet Earth is desperate for a pharmaceutical breakthrough. What could go wrong?

www.businessinsider.com

 

[manlymatt83]

What’s everyone think of REITs as part of a “own total market” strategy?