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Hey Nerds: Blockchain

CH1

The Artist Formerly Known as chiggins.
I don’t think we’ve seen euphoria in MSOs like TRUL. The most recent spike simply reflected the earnings ramp coming off mispriced COVID crash levels.
 

LeafOfFaith

Well-known member
I got into alcohol in my teens so I'm always ahead of the curve!

I recognize that they could be massive one day, but I don't know what sort of shit will get in their way (killer or just endless regulation, government becoming a producer itself and putting them out of business, etc.). It's also not a product I use, so I won't really know much about it.

Don't worry though. I wouldn't base a decision on your guys' ramblings. I have barely any idea what you're even talking about most of the time.
 

Preston

Well-known member
I got into alcohol in my teens so I'm always ahead of the curve!

I recognize that they could be massive one day, but I don't know what sort of shit will get in their way (killer or just endless regulation, government becoming a producer itself and putting them out of business, etc.). It's also not a product I use, so I won't really know much about it.

Don't worry though. I wouldn't base a decision on your guys' ramblings. I have barely any idea what you're even talking about most of the time.
Yeah they're all trading at tiny discounted multiples mostly because of those risks. The risks are real. But the bigger they get, the less likely they are to fail imo. I'm betting on America to protect their emerging mega powerhouse corporations.
 

Preston

Well-known member
And again I don't know dick all about the product either. Don't care though, the business models seem sustainable and that's all that matters.
 

CH1

The Artist Formerly Known as chiggins.
Yeah. I don’t give stock advice to anyone, but I do share my positioning.

If I knew what happens next, I would be able to

——make 10 billion dollars in a few years.
——-buy the Habs and fire Marc Bergevin.
——- hire Zeke as my junior analytics guy for $120k/yr
 

Habsy

Wrong Thinker Extraordinaire
Yeah. I don’t give stock advice to anyone, but I do share my positioning.

If I knew what happens next, I would be able to

——make 10 billion dollars in a few years.
——-buy the Habs and fire Marc Bergevin.
——- hire Zeke as my junior analytics guy for $120k/yr
So you’re saying you’d be so rich you wouldn’t care about actually winning? Is that it?
 

Preston

Well-known member
Impressive bounce on SPX but the double top at ~3425 will be the key level to look out for. It's all noise until that is either broken or rejected.
Might see that level get tested today. Not exactly the be all end all, "we're going to the moon" moment but it's a big'un. I think I'd like to see QQQ bust through 282.20 before I'm semi convinced of a reversal. Still a bit away and really.. QQQ carries the market these days. Without it being strong, I'm not sure things are looking great.
 

CH1

The Artist Formerly Known as chiggins.
3420 is the first stop, but I think SPX can go all the way to 3470 over the next few days.

Like yesterday, this gap up has me reluctant to be super active. Yesterday I caught a nice move in Boeing...who knows if there'll be anything today?
 

CH1

The Artist Formerly Known as chiggins.
And of course, there's always downside risk. Looking at 3385 area for support.
 

Preston

Well-known member
3420 is the first stop, but I think SPX can go all the way to 3470 over the next few days.

Like yesterday, this gap up has me reluctant to be super active. Yesterday I caught a nice move in Boeing...who knows if there'll be anything today?
Yeah it's the first, necessary step to any potential reversal. I believe you said it months ago and it stuck with me.. Any reversal/trend change/bottom is met with all sorts of skepticism. If we knew we'd all balls deep the "bottom" even after the first 5-10% gains.

I'd be a bit surprised if we re-test all-time highs with the election coming up. Market dislikes uncertainty. Might be a little choppy at least until then. Doesn't mean we crater, but we might see some indecisive choppy action. The toughest market to play really.
 
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CH1

The Artist Formerly Known as chiggins.
Just got short a little NQ near this am's highs; willing to risk a few points in case this gap up gets sold back to flat.
 
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