welp not much to do now. Got at least somewhat lucky with timing into the market and averaging down a few sloppy buys.. overall feel I did well but not amazing with the totality of entry points and not going to kick myself when we go lower in the next week or two here.. averages, from largest to smallest holdings ghvi 13.64 ttcf 19.28 kmph 10.11 srngu 10.37 hfbtf 3.83 mict 2.08 ctxr 1.61 not in 1.50s gang :( a few smaller plays and a few OCT free rolls, nothing on bright red... will be interesting to check this in 12 or 18 months. Had no plans of touching this money this year and it was going to collect dust. Unless something flash goes up and is way overvalued these will be year+ holds. Confident I'll make out better than what bogle or mutual funds would have given me in that time frame, but either way will be better off than not investing at all, and this is more fun with no fees
One OTC that's been a good bet for me is ASTI. Had to endure some pain, but sold at about 12% profit a few days ago, bought back in today and already up 16%. They went up 120% in a day the other day due to a new contract with NASA. In all honesty they might also be good hold overall. Depending on how high it goes today may sell again and buy back in after it drops
my hunch is google eventually buys them out. hard to venture a guess past a few years, either you agree with the tech bull thesis or not imo.. first mover get all the benefits in our setup and I personally see the technology as an inevitability and insanely profitable. Arguably one of if not the last great frontier of digitizing everything and now that it's opening up to the smartphone world instead of just the $4,000 matterport camera world... it's your own damn fault if you don't get rich off that one at $12
1400 wouldn't be surprised if it drops like another buck into the low 12s hope it does and I'll start shaking the couch cushions
i might have a problem also inverse relationship between market/meme stocks is pretty much fully confirmed hedge funds selling off our favorite stonks to pay for their meme positions
was pretty funny when people were acting like chamath was someone to be admired because of one interview about GME.. be a billionaire getting margin called on your own SPAC
we have a while more of this as people sell off their long term capital gain positions they entered at the bottom of the covid crash a year ago ghvi gang.. flirting with the 11s!
Getting absolutely dumped on with SENS. Guess I'll just hold as I don't need the cash. The ship should right itself at some point.
these spacs are trading under their $10 floor lmao literally impossible to lose a penny outside of opportunity costs of having the money tied up if you buy BREZ right now in the 9.80s.. for example
^^^ hard to worry about bringing cost basis down on a super long bullish play. Where I had to catch myself and be disciplined was when I started thinking about buying on margin while not being 100% sure about how it actually works. Like I could come up with the cash on a margin call, but until I learn how it actually works it would just be disrespectful to what it took for me to get that money into my account. BUT with a modicum of diversity in your portfolio and a rule of thumb of 10% on margin during a blood red moment a margin call seems next to impossible... like I'm not sure any crash in history would put you in a margin call situation using up to 10% of a diversified portfolio during what you perceive as *the bottom* so on to the interest.. minimal if youre swinging which why aren't you at least swinging on margin: max 9.5% divided by 360 days X however many days you hold.. assuming non-existent interest if day trading. Not sure what the fees look like.. but using a rule of not going over 10% during a blood red moment i'm pretty sure I could have just made a few grand had I day traded 10% on margin. time to educate myself on the fees, because I have basically convinced myself to start using disciplined margin amounts in addition to buying with real, long money in blood red moments while typing out this post this shit is more toxic than my worst relationship from my early 20s
basically the stock market is a huge scam propped up by the entirety of our society .. within your account, even with a cash balance of 0, on TDA they show your "stock buying power" which wont be zero unless youre only in OTC stocks how can you have stock buying power or do anything with no cash? on margin.. youre using your existing positions as leverage to buy more stocks or short something or do whatever.. completely ridiculous, but if approached systematically with hard and fast rules I wonder if it can be used relatively responsibly in flash crashes the first I heard of it was looking at GME loss porn and some idiots got completely wrecked putting huge percentages on margin.. Their brokerages didnt even give them time to come up with the money as the rule is written to allow, like 4 business days or something, they just sold their shit for them at the bottom and told them to fuck off. After seeing that just told myself never margin, margin bad, but after today I'm not so sure you can't use a *safe* percentage to swing/day trade something you know is way below its normal support I will study this dumb deal
fed FOMC meeting next week.. since i've been watching this stuff it seems the market shits itself if anyone from the fed so much as thinks about opening their mouth. seems like the issue will be pressed by market makers and stimulus checks wont yet be in hand to BTFDs closed out and sold down on a couple things with no catalysts coming in the next two weeks. we'll see if I guessed right just need SMAS to announce they're going current and run while we're greenish the first half this week
GME running today. Seeing people who have been in since the 40s/50s after the first run talking about adding more the believers seem to be convinced the squeeze is an inevitability.. the movie better do this story justice does anyone still have shares? I'm thinking about buying one if it settles somewhere