Market broke support on friday, but couldn't close below support. I expect we consolidate for a few days unless more bad news comes out. Markets not out of the woods yet, and needs to hold the 330 SPY support or we could have a nasty leg down.
Market broke support on friday, but couldn't close below support. I expect we consolidate for a few days unless more bad news comes out. Markets not out of the woods yet, and needs to hold the 330 SPY support or we could have a nasty leg down.
It's all moot with vaccine and stimulus. Either or both and it's back to rocket ship.
Anyone with an opinion they're willing to share regarding any kind of outlook for DKNG and PENN? It seems to me like hordes and hordes and hordes of dumb money have piled into these stocks and I'm wondering how much more room they have to run and how susceptible to a spectacular blow-up these are. Basically, assuming I'm right that an insane amount of dumb money has been piled into these stocks in a short amount of time, how hard do these stocks tend to crash once they finally lose buying momentum? TLRY and BYND both come to mind as stocks which I think these might end up imitating.
For now, both of these continue to get crazy pops any time there's a cool headline ("MJ is advising DKNG!") or any kind of bullish sports betting headline, but at this point it seems like perfection and market dominance has already been well priced in for both, and it now seems like these stocks are more likely to hurt from any bad covid sports headlines than benefit from any positive sports headlines (at this point I don't know what's even left for that in the covid context after the Big 10 news).
Last edited by karamazonk; 09-19-2020 at 05:00 PM.
Seems like stimulus is dead until next year or another stock market/economic crash. The entire focus of the political-entertainment complex has shifted to the supreme court nomination. Not to mention the election in 45 days.
What happened on this trade? 12 y/o posted it (buying Oct. calls) when the stock was at like 35.5; stock crept up before the close and then shot up to like 40 in after hours; then you guys came in to give him credit; then the stock plummeted before the next open and crashed over the next day and a half; and now the stock has lost 15% from the point he posted. What did people find so bullish Monday evening, and what completely unraveled it on Tuesday?
What happened on this trade? 12 y/o posted it (buying Oct. calls) when the stock was at like 35.5; stock crept up before the close and then shot up to like 40 in after hours; then you guys came in to give him credit; then the stock plummeted before the next open and crashed over the next day and a half; and now the stock has lost 15% from the point he posted. What did people find so bullish Monday evening, and what completely unraveled it on Tuesday?
If you sold at open it was still a decent gain. But yeah, they reported higher guidance and growth targets, but it wasn't enough to justify the run up into earnings. Or could just be the shake out until it runs to 50. Who knows in this market
For now, both of these continue to get crazy pops any time there's a cool headline ("MJ is advising DKNG!") or any kind of bullish sports betting headline, but at this point it seems like perfection and market dominance has already been well priced in for both, and it now seems like these stocks are more likely to hurt from any bad covid sports headlines than benefit from any positive sports headlines (at this point I don't know what's even left for that in the covid context after the Big 10 news).
Most dead money (=revenue) will bet where MJ advising to bet it is not a bullshit headline.
Just how much EV do you think you have paying 160% implied for calls on a battery day the CEO just shat on in a market that's selling off lately?
You're basically betting on a knock-out-of-the-park battery day and even if you get that your payoff is terrible, so you need the knock-out-of-the-park odds to be really high, which they aren't.
This is pure gambling and probably very -EV gambling.
Just how much EV do you think you have paying 160% implied for calls on a battery day the CEO just shat on in a market that's selling off lately?
You're basically betting on a knock-out-of-the-park battery day and even if you get that your payoff is terrible, so you need the knock-out-of-the-park odds to be really high, which they aren't.
This is pure gambling and probably very -EV gambling.
I already sold it for 30% gain. Someone else paid the IV.
For the record, I have always said I’m just gambling in here and it’s clear I lose money; I appreciate the advice though. Just giving a fish perspective like Rick roll or a couple others here. Picked up 4 NKE 123 weeklies for $1.03 each at close.
https://mobile.twitter.com/FC89473411 Tooth do I dump these NKE calls at open if AH price ends up holding? Would be nice to have a 10 bagger although it was only $400.
Why not just sell the stock against your position right now in after hours? No need to wait to for the market to open.
A bit too late, but I don’t believe that is something I am allowed to do with my broker. I can’t short stocks. I am with TD Canada and anyway I didn’t check the short stock option when applying for the options account, I don’t think I would have buying power to short 400? NKE (is that what I would do for 4 calls) unless I transferred money from my business accounts
NKE, bad day for good earnings I guess, though I don't think it warranted the 8% move anyway, the gamble still paid off nicely. Held out to see the 6 bagger go down to a 3.5 bagger and ended up selling. Got a bit too greedy there after seeing the premarket price and hoping it would pull a zoom. Was going to hold another night except the markets tanking the last couple hours changed my mind.
I think we get a stimulus compromise next week with Republicans allowing Pelosi to get most of the credit to get the thing passed without influencing the election. It’s better for Trump to not try to take credit for it or to lead it. It’s not going to matter for the election anyway. It hurts everyone if it doesn’t pass quickly. I like all big tech that can buy back shares especially AAPL,MSFT, and Google
