SPAC & IPO Ideas
- Thread starter Blazin
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Guest, it's time once again for the massively important and exciting FoH Asshat Tournament!
Go here and give us your nominations!Who's been the biggest Asshat in the last year? Give us your worst ones!
Sanrith Descartes
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And not just on options but low volume stocks also. Something like QQQM is so low volume the price could be a dollar or two off the bid/ask at times during the day.
Sanrith Descartes
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We are now in that SPAC zone called the patience place. Same place as last summer. Some will sell for a loss and others will choose to ride it out.
Sanrith Descartes
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I have orders in to write the $22.50 puts for April at $1 premium. They didnt fill enough at the open so I am waiting patiently. I also have a buy order for warrants way down at $6. sometimes you get those weird momentary liquidity gaps on warrants due to low volume and maybe they get filled.
Blazin
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I'm nibbling on high flying tech this morning as first leg in . May have more pain ahead but low enough to start scaling in. Over 80% cash in trade account at the start this morning so little easier making decision to start some buying.
I bought PSTH @ $23.50 1/4 position
Bought PLTR @ $22.00 1/4 position
Bought ARKK @ $113 1/2 Position
I would add more to arkk in the low 90s, PLTR another 1/4 at $18.00 and PSTH @ $22.00
Lots of these high flyer stocks sitting at their support with air gaps underneath them. It's such a perfect setup for a break and flush lower, but rather cloudy read right now as we are also set up well right now to bounce having tested the tech correction lows on many stocks.
I bought PSTH @ $23.50 1/4 position
Bought PLTR @ $22.00 1/4 position
Bought ARKK @ $113 1/2 Position
I would add more to arkk in the low 90s, PLTR another 1/4 at $18.00 and PSTH @ $22.00
Lots of these high flyer stocks sitting at their support with air gaps underneath them. It's such a perfect setup for a break and flush lower, but rather cloudy read right now as we are also set up well right now to bounce having tested the tech correction lows on many stocks.
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Sanrith Descartes
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Im doing it a little different with short dated at the money puts.
You really like ARKK at this price?
Blazin
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Not really, my issue is I have been watching and some dabbling in TSLA, DOCU, ZG, PLTR, ZM, SHOP, TDOC and SQ. ARKK is an attempt to just simplify the riskiest part of my portfolio. ARKK holds everyone of these. I'm just taking them off watch list and own them through the proxy. My ARKK position represents 0.5% of my net worth (yes I clearly have YOLO Diamond hands). I'm willing to hold these names for 1% of my portfolio and it's irrelevant to me if I'm paying 20-30% too much. If they are successful as I think they can be in the next 5-10 yrs it won't matter one bit and this investment could easily grow to 10% of my portfolio by risking 1% today. Or they could be a complete wash out and it won't matter a hill of beans.
Blazin
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Have you posted trade view chart this month? Inquiring minds...
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Jysin
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Month isnt up yet. Quite flat, which is a good thing. If market rolls over before end of week, might see some red. Though, if I literally cut loose everything right now, today's losses would be smaller than my biggest single day gain of last month. It's a rough month of misdirection. Tough for any trader, even seasoned ones.
Full disclosure: I took a $700 loss earlier in the week buying an NFT mover out of a halt. Completely irrational and greedy. Nothing whatsoever to do with my trade plan. I paid the price for greed and fomo. Suck it up and solidify why we have plans and why it is important to stick to it.
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Blazin
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Nothing wrong with a flat month sometimes. This month has taken more effort and good calls at the swings for me to hit levels. I'm up $13,491 as of this moment was up $16,000+ at one point and down $25k early in the month. My option strategies tend to work well in this environment just to keep clawing gains slowly each week when I don't want to overly commit.
Definitely a period where paying attention to a lot of signals and weighing the evidence is needed.
I'm at the point where I just want the month to end as things can still fall apart rather quickly.
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Sanrith Descartes
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Sanrith Descartes
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Some of the /wsb favorites had been heavily shorted recently. Could be covers for profit taking or we can hope its a short squeeze building.
Blazin
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Sanrith Descartes
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10% weight in TSLA is a concern also. I think VW is going to be a serious threat to them.
Sanrith Descartes
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Tmac
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Or Wall Street has been doing this a lot longer than Redditers and they’re making the water bloody.
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Sanrith Descartes
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WeWork going public through SPAC BOWX. Valuation of 9 billion. I rememeber Softbank investing at a valuation of 50 billion. This is the like the Softbank's version of Directv.
After announcement the SPAC couldn't jump above $10. el-oh-el
After announcement the SPAC couldn't jump above $10. el-oh-el
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