Hey Nerds: Blockchain
- Thread starter zeke
- Start date
WellPlayed
Well-known member
Mountains are the new Islands.
Habsy
Not playing around anymore.
Por que no los dos?
MindzEye
Wayward Ditch Pig
por que mi cuenta no es sufficiente a pagar para Hawaii:
So if forced to choose...I'll take beach. If I can choose two, beach + mountains, thus my love for Vallarta.
LeafOfFaith
Well-known member
Oh yeah, I know what a SPAC is and that Kong was one. I'm in another one right now. But I wasn't aware of this buy your shares back for $10 thing. I'm curious about the mechanics of it. Because you said they offered you to buy yours back for $10, so I'm guessing legally they have to give you that offer before closing the merger deal. Similar to mass class actions over here where you get your pro rata share or a settlement but can opt out before a certain date if you want to pursue your own claim.
LeafOfFaith
Well-known member
So what's the game plan right now. Seems like you think pot stocks are going to take a breather so you're repositioning. Tell me what your near term strategy is and which names you're dumping and buying. Because I'm kinda thinking of what I might liquidate for short term funds and MSOS is pissing me off lately. As is pretty much everything, but that one felt like it was ready to skyrocket.
Habsy
Not playing around anymore.
Greneda? Barbados? St. Lucia?por que mi cuenta no es sufficiente a pagar para Hawaii:
So if forced to choose...I'll take beach. If I can choose two, beach + mountains, thus my love for Vallarta.
MindzEye
Wayward Ditch Pig
I'm not sure, I'll have to see what they're going for.
Preston
MBow30 alt account
I don't like holding as much while the sector is cold, hype is gone and the broad market is shaky. The size of my core holdings and aggression in my day/swing trades depends on those factors typically (though when sentiment is really low and prices become as hilarious as they were last March, I go balls to the wall).
Keep in mind names like thumb did well over 800% from last years lows to this years highs so it already did kind of skyrocket like a lot of shit out there. Me going heavier cash doesn't make me any less bullish long-term. I think between now and an uplisting this entire sector will be in price discovery mode... The thesis of getting to enjoy a US MJ bulls market/bubble on a major exchange one day is still there for me. I want to look at valuations and laugh as hard as I did when Canopy's market cap was almost $100b. Just want to live through one US MJ bubble.
Assuming we keep going lower I will take small nibbles every 3, 5, 10% or so in addition to playing oversold bounces along the way. If we turn around and v-shape I will gladly buy higher and consider the cost of going cash as an insurance policy.
The sector has had a few 20-30% pullbacks throughout the last twelve months so this is not unusual. This is the first time in a while where I feel sentiment is a little shaky tho.
LeafOfFaith
Well-known member
I'm feeling this year will be up and down and end up where we're at now. I don't expect a steep fall or anything, just a flat year since having two years in a row like last year seems unlikely.
You never short and buy puts, right? You just buy and sell straight up?
You never short and buy puts, right? You just buy and sell straight up?
Preston
MBow30 alt account
Typically no puts but I've got June 2022 puts on SPY. Hoping they expire worthless. Just trying to protect myself while still buying and holding what I believe in.
LeafOfFaith
Well-known member
The long in me is a bit frustrated currently. Portfolio took a 10% or so facepunch recently, and I'm not loving the inconsistency and volatility. Feels like each stock gains 10% one day and then just gives it right back over the next day or two.
Preston
MBow30 alt account
Folio leaning a BIT more bearish. Bought April 5 SPY 380s on open today. If weed and the market continues to die I suspect the puts will pay for it. I think JPOW delayed what was going to happen a couple weeks ago. But the charts have unfinished business. Doesn't mean this is anything more than a minor setback though, let's make that clear. Could still see us surging to ATH this year.