Hey Nerds: Blockchain

[Preston]

Took a nibble on CANN

 

[Preston]

No more silver?

That's in my RRSP. Long. The vast majority of my funds are long in indexes. Haven't touched them.

 

[CH1]

Took a nibble on CANN

your new TNY?

 

[Preston]

your new TNY?

Yeah, I used to play that one way back. Piece of shit company but has had some huge moves. Risk-reward feels good here as long as I don't hold too long.

 

[Preston]

Today is laggard day across the market. Banking on CANN being a laggard of the laggard sector. Nowhere near a lock but high upside with minimal downside at these levels I think. Resistance at 19c. 14c seems to be ironclad support.

 

[CH1]

My laggard play of choice was PYX but I got distracted...+38% today

 

[Preston]

My laggard play of choice was PYX but I got distracted...+38% today

If I had more US funds I'd play that one more often. Used to love playing them back when they were a legit company.

 

[CH1]

If I had more US funds I'd play that one more often. Used to love playing them back when they were a legit company.

They are legit but their debt load is monstrous

Pyxus faces solvency challenges, as the balance sheet, which shows equity of just $85.5 million (down from $203.5 million a year ago) is loaded with debt, including $580 million of short-term bank debt and $911 million of debt due in 2021

 

[CH1]

went short NFLX via puts at 418.30 --- will sell for a small loss if it stays over 419.50 for 10 mins.

NFLX behaving like a dream, briefly breached the 419 mark, then straight down to 416

 

[LeafOfFaith]

Speaking of LOF, Royal Bank is down today, probably because they can't figure out how to keep their online brokerage up and running

I think they fixed your online issues. The stock turned positive.

 

[Preston]

YES MY MAN IS BACK



FUCK YEAHHHHHHHHHHHHH

 

[LeafOfFaith]

Eh, not so sure about that.

 

[CH1]

LOF, you're just in time for this doozy -- NKLA (I had never heard of it) up $35 today to $72

so 55 calls went from 10 cents to $19.90. So 199 bagger. Means $1000 in this on Friday is worth $199,000 today.

This really is like the 1999 market.

My 3 bagger in ROKU calls today is very sad in comparison.

 

[LeafOfFaith]

I would trade my $1k for $199k any day. Just give me more notice next time.

Did you get rid of your RY puts before it shot up?

 

[Preston]

Have to say.. From the very bottom till around 3000. I took advantage of the huge historic bull run. But man since then I have been on the sidelines for a good portion of it. Making spare change more than anything. Too bad, but trying not to feel too many regrets because I will position myself to feast on the bear move upcoming... Maybe by 3300...

 

[LeafOfFaith]

Well I bought and quickly sold Citi at $40 so I missed out on a 50% gain. What a bummer to panic sell out of that kind of gain on a blue chip staple stock paying a 5% dividend. At least I have my Shopify fail to make that pale by comparison.

 

[CH1]

I would trade my $1k for $199k any day. Just give me more notice next time.

Did you get rid of your RY puts before it shot up?

Oh yeah, I'm pretty sure I posted it here when I did. Made like $300 on 3 puts.

 

[LeafOfFaith]

Nice. Though if you went long on it, it's up 20% since that time.

 

[CH1]

Well I bought and quickly sold Citi at $40 so I missed out on a 50% gain. What a bummer to panic sell out of that kind of gain on a blue chip staple stock paying a 5% dividend. At least I have my Shopify fail to make that pale by comparison.

My strategy is to make new regrets on a weekly basis, so none of them have any lasting power over me.

The one that got away is a tragedy, but the thousands that got away is comical.

 

[LeafOfFaith]

Hmmm. Multiply your mistakes by tenfold so that you can't remember any specific mistake. I like it!