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Thread: Recent High Flying Stocks

  1. #13

    Default Re: Recent High Flying Stocks

    Just a follow up on this TSLA trade. I covered this TSLA short today at 840.00. Small gain (4%) but that pennant formation looks a little too bullish for me to hold much longer. I'll wait for another set up if I decide to short it again. If this pennant breaks down instead of up, that may be a good enough reason.



    Quote Originally Posted by tsptalk View Post
    Sorry, I posted this image in another thread, but I'm putting it here again because I think it's time to dabble in a high flying TSLA short position. Short @ 876.59.

    Talk about stepping in front of a freight train...
    Tom
    Market Commentary | My Blog | TSP Talk Plus | |

    I am not a Registered Investment Advisor. Do your own due diligence.

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  3. #14

    Default Re: Recent High Flying Stocks

    Like Gamestop, AMC is giving the shorts a heart attack this morning...

    You can bet that the SEC is not going to sit idly and let these Reddit folks kill hedge funds...

    https://www.cnbc.com/2021/01/27/amc-...-gamestop.html




    Tom
    Market Commentary | My Blog | TSP Talk Plus | |

    I am not a Registered Investment Advisor. Do your own due diligence.

  4.  
  5. #15

    Default Re: Recent High Flying Stocks

    Quote Originally Posted by tsptalk View Post

    You can bet that the SEC is not going to sit idly and let these Reddit folks kill hedge funds...
    It's not reddit causing the upswing, not enough money there. This is billionaires teaching other billionaires a lesson.

    I suppose I take a contrarian view on this. Hedge funds are more than able to destroy businesses, hell, the economy if we let them. For example, shorting a company for more stocks than actually exists. Tax payers bail them out for the inconvenience.

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  7. #16

    Default Re: Recent High Flying Stocks

    I'm not saying it will be right, but the SEC will likely get involved. When big political donors want something, they tend to get it.
    Tom
    Market Commentary | My Blog | TSP Talk Plus | |

    I am not a Registered Investment Advisor. Do your own due diligence.

  8.  
  9. #17

    Join Date
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    Location
    Boiled Peanut, Georgia, USA
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    64,550

    Default Re: Recent High Flying Stocks

    Did this have anything to do with the drop today, I don't think so?

    14:00 ET: FOMC Rate Decision
    For: Jan | Trading Impact: High | Actual: 0.125% | B.com Forecast: 0.125% | B.com Cons: 0.125% | Prior: 0.125% |
    Or this -

    10:30 ET: EIA Crude Oil Inventories
    For: 01/23 | Trading Impact: High |
    Actual: -9.91M | B.com Forecast: NA | B.com Cons: NA | Prior: +4.35M

    https://www.briefing.com/calendars/e...c?Filter=Today
    02/24/2021
    LS CRUDE Oil
    =$63.22 a Barrel, Daily Status +$1.55

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  11. #18

    Default Re: Recent High Flying Stocks

    There did seem to be an escalation of the selling while Powell was talking, but he really didn't say anything surprising.

    As for oil, lower than expected inventories is usually bullish for the price of oil, and I see oil is actually flat on the day, so the selling in stocks didn't really impact it much.

    So, the answer is, I don't know.
    Tom
    Market Commentary | My Blog | TSP Talk Plus | |

    I am not a Registered Investment Advisor. Do your own due diligence.


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  13. #19

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    Default Re: Recent High Flying Stocks

    SEC will get involved. Bots trade on keywords and it's a crowded trade.

    Example: Elon Musk said use Signal and that POS penny stock ramped up instantly. Then he tweets that he loves Etsy and it sees a massive ramp. So yes there is some retail in there, but it's mostly bots and they can push the levels that will cause a squeeze. The bots traded off what was being said on r/WSB.

    I can tell you first hand one of my stocks ramped up 20% in a few hours and it's not some crazy popular growth stock either. The catalyst was a Dow Jones news article mentioning it's short interest. Once again, those bots at work.

    Unless Powell says "free money infinity", there's already so much priced in.

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  15. #20

    Default Re: Recent High Flying Stocks

    Express (EXPR) is down 44% this morning

    AMC -39%

    GME +6%


    This beats watching Netflix.
    Tom
    Market Commentary | My Blog | TSP Talk Plus | |

    I am not a Registered Investment Advisor. Do your own due diligence.

  16.  
  17. #21

    Join Date
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    Default Re: Recent High Flying Stocks

    I didn't even know Express was publicly traded. Thought they were owned by L brands.

    But again, another case of a zombie company. Imagine if JCP still existed?

    Positive note, at least AMC was able to use this ramp up to get rid of some debt and will be able to stay alive without government intervention. The watering down could be pressuring that stock a bit more today. Long term though, it's not worth what it's trading at, but it's not as likely to go belly up like Hertz any time soon.

    AMC said the conversion will result in the issuance of 44.4 million new shares. The conversion will reduce the company's debt by $600 million.
    https://www.marketwatch.com/story/am...ebt-2021-01-28

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  19. #22

    Default Re: Recent High Flying Stocks

    The short squeezers are having a big day today. GME, as I mentioned in another post, was up 100% today, AMC up 18%, TLRY up 13%, EXPR up 43%.
    Tom
    Market Commentary | My Blog | TSP Talk Plus | |

    I am not a Registered Investment Advisor. Do your own due diligence.

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