Hey Nerds: Blockchain

[CH1]

taking half off for +17

+21 on the other half. need a break and some food.

 

[CH1]

Yeah I think that's it. Just taking a quick look at his twitter he was legitimately mad that people were still bullish in the last few days. He has a contrarian streak to him. Real nice guy though. And just looking at his twitter, you can clearly tell he isn't a dummy.

The only thing I question is his subscription to Sam.

 

[Preston]

The only thing I question is his subscription to Sam.

Oh this guy hates Sam. Different guy.

 

[CH1]

Oh this guy hates Sam. Different guy.

OK. That makes sense. I couldn't square the two elements together.

Anyway, if you want a laugh, Sam's pinned video is amazing.

 

[zeke]

I want to cover my more midterm SPX puts but need zeke to post bearish chart first

nothing since memorial day makes any sense to me.

 

[Preston]

Welcome to stonks. If things made sense we'd all be trillionaires.

 

[CH1]

nothing since memorial day makes any sense to me.

think supply/demand. more buyers than sellers.

the mistake we all make is assuming that it's obvious when people want to buy (or sell) based on our own thinking

 

[CH1]

small caps (IWM) telling it like it is

this aged well...The Russell 2000 Small Caps is almost limit down.

 

[Preston]

Now to scout the top of this bounce...

 

[CH1]

Now to scout the top of this bounce...

I shorted ES 3050 while waiting for my toast to pop.

 

[Preston]

I shorted ES 3050 while waiting for my toast to pop.

Took a bit more than a nibble on an inverse qqq etf. Set my stop just above break even. Almost at my target. Feeling comfy. Target is a fresh new low of day on another leg down.

 

[CH1]

not looking for much, will take the 5 points and keep a runner

 

[Preston]

not looking for much, will take the 5 points and keep a runner

Yeah I'm going to take half off soon and keep my stop where it is but still looking for the next leg down. Feels like it's coming.

 

[Preston]

Oh shit's about to tumble.

 

[CH1]

the qqqs are a nice play because they have catching up to do on the downside

 

[Preston]

the qqqs are a nice play because they have catching up to do on the downside

Was exactly my thought.

 

[zeke]

think supply/demand. more buyers than sellers.

the mistake we all make is assuming that it's obvious when people want to buy (or sell) based on our own thinking

true.

i still feel like the surge since memorial day was an especially irrational one though.

 

[Preston]

Good hold for the bulls. I took off half when I saw bears struggling to get more. Still think there's a good chance we get another leg down. This feels like it's setting up for a good ol' fashioned sour hour.

 

[CH1]

true.

i still feel like the surge since memorial day was an especially irrational one though.

Famous quote from John Maynard Keynes --- “The market can stay irrational longer than you can stay solvent"

A bunch of retail traders/gamblers flooded the market since COVID, providing a relentless bid too a bunch of distressed crap. More power to them if they could buy Hertz for a $1 and sell it for $2 the next day. It works...until it doesn't.

 

[Preston]

QQQ holding LOD for now. It really is riveting shit to sling as much dough as I am today. It's been awhile since I've done this.