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Hey Nerds: Blockchain

Preston said:
Depends on the day. I've been not very active since spx got over 3000. That's where I differ with ch1. I got my big winners riding shit up and didn't want to give anything back. Turns out I still should have played bullish but whatever.

As for today? Up until a half hour ago? Glued to my screen. All day. These types of days are mostly once a year or five type of days though.
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It's pure fucking addiction. Crack addicts have no idea what they're missing if they're not in the market.
 
CH1 said:
Low interest rates forever = banks make no dough
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They absolutely cleaned up like crazy on origination fees on a gazillion dollars of PPP loans this past quarter, and they will always find ways to make money. Though that Atlantic article I posed yesterday has me more leaning to sit on the sidelines with the banks. Plus I've found a few other high growth plays that I'd prefer to run with instead anyway. So I'm waiting. But my portfolio is so dividend lite and I really have wanted to supplement that in a big way.
 
LeafOfFaith said:
And normally this is where I'd jump in to grab some stuff I've been looking at - in fact, it probably would've been a couple of hours ago. And then I'd sit and get annoyed that what I bought kept falling, as per my usual. So I'm trying to be super against my nature patient right now.

Also CH - the reason I asked about EA the other day is that I bought a good chunk like 2 years ago to hold long and fucking immediately it tanked and aside from flirting a little bit with the level where I bought it, refused to come back. I refused to sell it until I recouped without a loss, so we were at a stalemate. Two years of dead money in a stock that pays nothing and refuses to appreciate. Then last week it briefly hit my breakeven of $124.27 and crossed it by A PENNY and then immediately dropped down like $5-$6 bucks in the ultimate cocktease move. But yesterday, it crossed finally and I sold it at literally a few bucks profit. I promised myself not to get greedy and force a good profit out of it, even if it went up a few bucks more (which it did this morning, the fucker). But I sold it and freed up that dead money, which was a huge day. So normally I'd be looking to put it to work in a falling market, but I'm trying to stay idle for a bit.
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I'm glad it worked out....but try to remember that the market doesn't care what you paid for something. You should only keep something if you think it's going higher. That works for selling a profitable position as well -- why sell if the stock and fundamentals are trending up?
 
that was the snapper I wanted -- should have bought it when all this "giant sell program" appeared on my twitter
 
CH1 said:
I'm glad it worked out....but try to remember that the market doesn't care what you paid for something. You should only keep something if you think it's going higher. That works for selling a profitable position as well -- why sell if the stock and fundamentals are trending up?
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I spent two years feeling that I bought it way, way too high. I sat on it while it fell into the $80s and even $70s I think. It was trading at $140+ before I bought it, so I thought I did well to buy it off its highs. But I already have ATVI and I've since become a believer that as a stock picker, I shouldn't be owning direct competitors. Pick the best one and run with it. But it turned into an emotional thing too. I just hated to see that stinker sitting in the portfolio perpetually red. And I sort of had to live up to my promise that if the lord would leave the door to that cell open, I would exit immediately. There's way better plays out there than EA anyway. I asked you about it to see if you thought anything special about it, which you didn't really. I know the new consoles coming out will give video games a boost, but again, if I have exposure to it through another company, I don't need to double up.

And I fucking love that it's red today now that I don't own it.
 
Preston said:
Calling it is easy. It's the timing of the moves that always get me. So frustrating.
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It's relentless frustration, even on good days.

example, today was glorious, but if I never got out of bed until 3, I could have taken the rest of the year off (instead of selling my puts in a disciplined fashion for a fraction of what they are selling now)
 
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President Donald Trump criticized the Federal Reserve over Twitter on Thursday, one day after Fed Chairman Jerome Powell offered a grim outlook on the economy, saying there was a “long road” ahead.

“I see the numbers also, and do MUCH better than they do,” Trump said of the Fed, without mentioning Powell by name. “We will have a very good Third Quarter, a great Fourth Quarter, and one of our best ever years in 2021,” the president said.
 
zeke said:
You made me doubt myself you motherfucker. Goddamn bullshit bubble.
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Again, I remove myself from the news and actual facts of the economy. I don't give a fuck about that. It's good to be cautious, but the stock market is about supply and demand and that is seen in the price action not in the news. If I was following the news and bleak outlook I would have never bought as aggressively as I did in the past couple months. I follow price action and it has been bullish since March. I started getting cautious recently because I did see a rug pull coming.. CH1 and I discussed it for a several days leading up to today and we even predicted action like today (although in fairness this was about 2 times more fierce than I projected, though this does not surprise me in the least). Shit got really really really over-extended and we were approaching all-time highs. I missed out on much of the bull move in the past two weeks but in the end I came out of it ahead on a couple quick flips today. No loss for me.

My bear suit is half on right now.

Let's go.
 
LeafOfFaith said:
Tomorrow is going to be a little scary waking up to the market.
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I'm leaning bearish for tomorrow's open as the doomsday headlines come out in waves but hey, you may be pleasantly surprised. I wouldn't count out a bounce. But that's not as important as how hard we bounce, how much volume we get, and if we get legit follow through. Otherwise, it's just one giant bear flag that I will try to profit off of.
 
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