Hey Nerds: Blockchain

[Preston]

I fucking love Lieve dip buyers. This is what I've been waiting for. Volume and fucking insane action on MSOs. THANK YOU!

 

[Preston]

Cantor Fitz and Cannacord were the leaders of the dip buying this morning.

 

[Preston]

This SPX bounce is legit.

 

[CH1]

This SPX bounce is legit.

we'll see...watching 3350 ES (for over under)

I'm lucky that a lot of my longs are actually green... DKNG, GME, XERS, ARWR, PINS....so I was able to lighten on that push higher

 

[Preston]

Oh yeah, it proves nothing. Could easily be a bear flag. But the volume and magnitude of the bounce was impressive. We'll see if it fades.

 

[LeafOfFaith]

Uh so should I just sell everything and be done? This is terrible already

 

[Volcanologist]

yes.

 

[LeafOfFaith]

Sell orders in.

What a travesty.

 

[CH1]

Uh so should I just sell everything and be done? This is terrible already

market clearly did not like the Joel Edmundson signing

 

[LeafOfFaith]

Bad couple of weeks to be a long. This is so ugly. And with the election still 1.5 months away, there's reason for concern.

 

[Preston]

Bad couple of weeks to be a long. This is so ugly. And with the election still 1.5 months away, there's reason for concern.

If you need the money next week yeah. I'd be concerned too.

 

[Preston]

I still have a fuckton of free cash from my SLV profits. My first VTI nibble was near lows today. Lots more to go. 3200 is when I start getting semi aggressive. 3000 is where I back the truck in.

 

[CH1]

I went short Netflix this am. Not liking their selection these days.

Nice profit; will cover at 468

 

[Preston]

Pot stocks are monsters. The relative strength is impressive.

 

[CH1]

Pot stocks are monsters. The relative strength is impressive.

I had that feeling and mentioned it earlier. TRUL aside (for obvious reasons), these stocks have held in well.

There's also pockets of strength in biotech.

The big losers today are the ridiculous gainers of the last several months. They have further to fall IMO. Parabolic moves rarely just correct.

 

[Preston]

I had that feeling and mentioned it earlier. TRUL aside (for obvious reasons), these stocks have held in well.

There's also pockets of strength in biotech.

The big losers today are the ridiculous gainers of the last several months. They have further to fall IMO. Parabolic moves rarely just correct.

And TRUL has dumped about 26% from recent highs already (their strength despite the dilution is notable)

GTII dumped 15%
CURA dumped 25%
Cresco dumped 25%
And TER... 11%


So they've been in consolidation mode for awhile. They just happened to start before the roided up market.

 

[LeafOfFaith]

That would suck. Make no mistake.

 

[LeafOfFaith]

I haven't actually looked at the account in two weeks. Can't look during carnage, don't even want to know how much it's gone down.

 

[Preston]

I haven't actually looked at the account in two weeks. Can't look during carnage, don't even want to know how much it's gone down.

Long and strong my man. You don't need to look.

 

[CH1]

I haven't actually looked at the account in two weeks. Can't look during carnage, don't even want to know how much it's gone down.

You're a smart man, so I don't have to tell you this -- if you want outsized returns (10-12%) over a period of decades, you have to be willing to experience days, weeks, months and even the odd year of carnage.