Topic Split: Stock Market Watch

[BF004]

Unpopular opinion here but I think it might be time to sell Bitcoin. Thinking about taking profits and buying back if it takes a dive.

Depends where it is, still very volatile. I think it kind of has a new hard floor around 43-45, with Tesla and JP Morgan investing in it now. Will it stay upper 50’s or low 60’s or grow? I don’t know. But I doubt it can drop anymore than about 20%, so I think it’s worth the risk. I think in a year the odds of it being >100k are greater than it being 45, so I’m gunna keep tossing $100 a paycheck in it indefinitely. I’m really after those 5-10 year gains which I think are going to exceed nearly any other investment.

[APB]

Great start to the week here.

Quadruple witching day on Friday, crazy amount of calls expiring Friday, lot at like 13, 15, 20, and 40. IF its looking like its gunna close over 13, should be enough for a pretty good gamma squeeze already, 15 or 20, could realistically see 3 digit price in the near future.

So? For those of us just casually following along, did this "witching day" prove to be anything significant?

[Captain_Ben]

Unpopular opinion here but I think it might be time to sell Bitcoin. Thinking about taking profits and buying back if it takes a dive.

Depends where it is, still very volatile. I think it kind of has a new hard floor around 43-45, with Tesla and JP Morgan investing in it now. Will it stay upper 50’s or low 60’s or grow? I don’t know. But I doubt it can drop anymore than about 20%, so I think it’s worth the risk. I think in a year the odds of it being >100k are greater than it being 45, so I’m gunna keep tossing $100 a paycheck in it indefinitely. I’m really after those 5-10 year gains which I think are going to exceed nearly any other investment.

I too believe it will grow in the extended term (5-10 years). If dollar cost averaging over the long term is your strategy then I can understand your perspective. I am not dollar cost averaging and have always tried to go "against the grain" when it comes to trading/investing so admittedly contrarianism is a part of my viewpoint in this instance.

With the development of these new ETFs I think that crypto prices will be subject to more market manipulation than ever before.
Also, in the case of an economic downturn I don't think investors will remain confident in Bitcoin. When the market sells off, everything tends to sell off in unison. When that big selloff happens, I don't think people will throw their $ right back into Bitcoin, especially if the economy slows too.

I think gold's time is coming soon. All IMO, of course.

[BF004]

Great start to the week here.

Quadruple witching day on Friday, crazy amount of calls expiring Friday, lot at like 13, 15, 20, and 40. IF its looking like its gunna close over 13, should be enough for a pretty good gamma squeeze already, 15 or 20, could realistically see 3 digit price in the near future.

So? For those of us just casually following along, did this "witching day" prove to be anything significant?

Not really. The resistance against any growth was weird. I’m not smart enough to know, but from what I’ve seen. Basically like. 43,000,000 share sell and buy wall just under 14 on AMC, which is A) greater than the total amount of float available and also if you want to buy more than 10% of control of a company, you need to submit and SEC filing. Possibly some logical reason, but seems like blatant, illegal, counterfeit short selling. Seems like some will prefer the multi million dollar fine (if even ever investigated) vs the billions they would lose on a gamma squeeze. If true, then just also more convinced we got them by the balls and it’s simply just a waiting game, they are already losing hundreds of thousands, if not millions daily right now.

We’ll see how it plays out. Just play money for me so I’ll leave it in there for a year or two if needed.

[BF004]

Unpopular opinion here but I think it might be time to sell Bitcoin. Thinking about taking profits and buying back if it takes a dive.

Depends where it is, still very volatile. I think it kind of has a new hard floor around 43-45, with Tesla and JP Morgan investing in it now. Will it stay upper 50’s or low 60’s or grow? I don’t know. But I doubt it can drop anymore than about 20%, so I think it’s worth the risk. I think in a year the odds of it being >100k are greater than it being 45, so I’m gunna keep tossing $100 a paycheck in it indefinitely. I’m really after those 5-10 year gains which I think are going to exceed nearly any other investment.

I too believe it will grow in the extended term (5-10 years). If dollar cost averaging over the long term is your strategy then I can understand your perspective. I am not dollar cost averaging and have always tried to go "against the grain" when it comes to trading/investing so admittedly contrarianism is a part of my viewpoint in this instance.

With the development of these new ETFs I think that crypto prices will be subject to more market manipulation than ever before.
Also, in the case of an economic downturn I don't think investors will remain confident in Bitcoin. When the market sells off, everything tends to sell off in unison. When that big selloff happens, I don't think people will throw their $ right back into Bitcoin, especially if the economy slows too.

I think gold's time is coming soon. All IMO, of course.

Well last part wouldn’t upset me, I got about 3x more gold, silver and platinum than I do crypto.

It’s sucking right now compared to every other investment, but always good insurance to have.

[wallyuwl]

Bought 20 oz of silver bullion (1oz rounds) for the little one. Plus a Trump coin for us. About 6 weeks to get it. Found a place that doesn't charge tax on WI orders and has free shipping. Ordered direct from the mint. Came out about $30 less than Money Metals because of tax.

Still holding AMC. Bought way too high, would be about even if sold now.

[paco]

Happy AMC Day! #AMCDAY

[BF004]

Happy AMC Day! #AMCDAY

Was #2 trend on Twitter earlier.

Dominoes still stacked really well. Just needs momentum to get going. Technical setup best I’ve seen on it in sometime. If you got a little play money laying around, wouldn’t be a bad idea toss it on there and see if anything happens.

[Drj820]

I would only sell bit coin right now if you plan to need the money within the next few year. Scarcity has been created and more and legitimate institutions and companies accept it as payment now. Bitcoin has been good to me, I plan to just buy dips and wait it out. Lots of room still to grow.

[Captain_Ben]

I sold my BTC about 2 weeks ago. Took 2 days for Coinbase to process and complete the transaction. Is that par for the course or is coinbase just slow?

[BF004]

I sold my BTC about 2 weeks ago. Took 2 days for Coinbase to process and complete the transaction. Is that par for the course or is coinbase just slow?

Should have sold immediately to your coinbase account. I would expect about 2 business days to transfer that money from coinbase to your checking account though. That seems normal to me.

[Captain_Ben]

I sold my BTC about 2 weeks ago. Took 2 days for Coinbase to process and complete the transaction. Is that par for the course or is coinbase just slow?

Should have sold immediately to your coinbase account. I would expect about 2 business days to transfer that money from coinbase to your checking account though. That seems normal to me.

Now that you mention it, you are right- that's what happened.

[paco]

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[BF004]

#1 trend on Twitter right now!

[wallyuwl]

To the moon!

Thing is, I'm still down. Bought a couple months ago at $14.something. Should have bought more when it was around $6 or $8.

[BF004]

To the moon!

Thing is, I'm still down. Bought a couple months ago at $14.something. Should have bought more when it was around $6 or $8.

I’m sure everyone wishes they bought more at 5.50, lol. Definitely strong to have a lot of conviction at that point.

I’ve been adding pretty steady the last 5 months, got my dollar cost average to around 9.50 overall.

[BF004]

15.33 ah high!! Lfgoooooo!!!!!

Still 140+ millions short shares outstanding, excluding the very likely synthetic shares.

Not too late to get in, she’s going much much much higher.

[Captain_Ben]

15.33 ah high!! Lfgoooooo!!!!!

Still 140+ millions short shares outstanding, excluding the very likely synthetic shares.

Not too late to get in, she’s going much much much higher.

Man I hope CDEL gets what they have coming to 'em. Not in AMC, might make an entry in the coming days. Regardless, I'm rooting for mother of all short squeezes.

[paco]

15.33 ah high!! Lfgoooooo!!!!!

Still 140+ millions short shares outstanding, excluding the very likely synthetic shares.

Not too late to get in, she’s going much much much higher.

What's your guess at where it tops out? Have you set a sell point?

[BF004]

15.33 ah high!! Lfgoooooo!!!!!

Still 140+ millions short shares outstanding, excluding the very likely synthetic shares.

Not too late to get in, she’s going much much much higher.

What's your guess at where it tops out? Have you set a sell point?

It will completely depend on how much borrowed shares are outstanding.

Citadel has tons of long stocks, they know price is going up and prolly delta hedging and about 100 million in amc options, puts and calls, so the price gunna be violent. Will go to 20 and back to 15 and then to 40 and back to 20, but if they aren’t returning shares. I’m hodling, especially as more and more calls will keep expiring in the money each Friday, should this last a few more weeks yet.

Once borrowed shares are way down, to like 75 million ill prolly start taking a little out to hopefully cover original investment.

Otherwise I’m not pulling out much unless it starts getting crazy, in the thousands. I want to keep a bunch long term, I think this will be a healthy 20-30 stock after all the Reddit stuff is done.

Be near impossible to sell everything at the tippy top, so I wanna take out, ideally, enough to cover original investment. Maybe just keep scalping a few more shares on the way up, 20% rough target, then maybe sell off 50% on the way back down, again, a little throughout, not all at once, keep 30% to pass on to my kids.