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CC09LawAg
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In reply to El Chupacabra • 8:11a, 10/30/24
Man, I almost pulled the trigger on $30 puts for next week yesterday!

I think I'm taking this one off my watchlist till all this stuff gets sorted out.
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bhanacik
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8:15a, 10/30/24
AG
I sold some 46 puts on SMCI a while back that expire 11/1. will be interesting to see if I get assigned
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Talon2DSO
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In reply to aggies4life • 8:16a, 10/30/24
AG
aggies4life said:
Smci - stay away or buy the dip?


I'll buy under $30. But I'm thinking they're going to have some serious headwinds with so much competition now.
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CC09LawAg
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In reply to Talon2DSO • 8:18a, 10/30/24
Feels like the new car smell has worn off and now it's more like "this was previously owned by a smoker and it'll take a deep cleaning and a few months of driving with the windows down for the smell to go away".
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Chef Elko
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8:22a, 10/30/24
AG
Played the bounce and sold all non IRA SMCI holdings. Sucks we got gotted! It has to be hard to run a tight ship when a company grows this quickly.
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El_duderino
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8:54a, 10/30/24
Volume yesterday was 2300 on the 11/8 $40.5p for SMCI. Somebody ****ing knew.
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Gaeilge
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8:55a, 10/30/24
Big options dip buyers on SMCI on CheddarFlow
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Gaeilge
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8:57a, 10/30/24
SMCI halted
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CC09LawAg
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In reply to Gaeilge • 9:04a, 10/30/24
So much drama. What a rollercoaster this stock has been.
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Chef Elko
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In reply to CC09LawAg • 9:06a, 10/30/24
AG
Mo money, mo problems
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Number Monkey
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9:07a, 10/30/24
AG
Anybody jumping in on BTC now, or waiting based on Heineken's post? I'm tempted to add more IBIT and get back into CLSK.

Edited to correct to BTC
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Brian Earl Spilner
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9:07a, 10/30/24
AG
I grabbed a big chunk right below 33.

Unfortunately I also had buys set at 48, 47, and 46 which are now deep red.
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bhanacik
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9:12a, 10/30/24
AG
I bought the dip yesterday on SOFI, wish I had bought more. still have some orders in for selling some puts but looks like those won't be executing as the gap from yesterday is almost already closed.
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E
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9:14a, 10/30/24
AG
Got a few more SLV calls on the opening dip
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El_duderino
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9:14a, 10/30/24
Missed the dip below $250 on POWL. Just starting a small position there and will add more after the election and closer to earnings on a deeper pullback
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tlh3842
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9:21a, 10/30/24
AG
Would like ProgN analysis of the SMCI news
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CC09LawAg
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In reply to El_duderino • 9:38a, 10/30/24
I think you'll get another chance - it seems to be lingering in this range.
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El_duderino
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In reply to CC09LawAg • 9:41a, 10/30/24
Have a small limit order in. Still below fair value here so I don't mind owning a few shares, but don't want a big position at $250 cost.
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ProgN
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In reply to tlh3842 • 9:44a, 10/30/24
tlh3842 said:
Would like ProgN analysis of the SMCI news


I'm driving but will post comment in a bit.
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DC901
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In reply to ProgN • 9:54a, 10/30/24
Ag CPA
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In reply to GreasenUSA • 10:56a, 10/30/24
AG
GreasenUSA said:



30% instadump

Usually a good sign that straight-up fraud was discovered, don't know if I've seen such a strongly-worded statement from a Big 4 firm since the dot com era.
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GreasenUSA
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In reply to Ag CPA • 11:04a, 10/30/24
AG
Yep, the Hindenburg report was the canary.

This is not a stock to be trading right now. Hopefully long term holders will be bailed out in the end.
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WestTexasAg
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11:17a, 10/30/24
AG
What to do with SMCI? Take the loss and dump it, or hold?
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Brian Earl Spilner
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11:18a, 10/30/24
AG
This is basically the only reason I'm still trading it...

Quote:
"The Company does not expect that a resolution of the matters raised by E&Y or those under consideration by the previously announced Special Committee of the Board will result in any restatements of its quarterly financial results for the fiscal year ended June 30, 2024, or for prior fiscal years," Super Micro said in a statement provided to Yahoo Finance.
That said I've brought my two targets way down to $40 and $45.
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Brian Earl Spilner
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11:26a, 10/30/24
AG
SOXL - back in with average of $35/share.

Targeting $37.
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Ag CPA
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In reply to Brian Earl Spilner • 11:33a, 10/30/24
AG
Yah we'll see, ultimately their new auditor will have the final say on any restatement and typically there is little tolerance in these situations for a variety of valid reasons.
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MAS444
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In reply to WestTexasAg • 11:39a, 10/30/24
AG
Quote:
Take the loss and dump it, or hold?
My question too. It will hurt to take a loss, but even moreso to ride it down to zero.
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giddings_ag_06
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In reply to MAS444 • 11:45a, 10/30/24
AG
MAS444 said:
Quote:
Take the loss and dump it, or hold?
My question too. It will hurt to take a loss, but even moreso to ride it down to zero.


I took the loss and it hurt. Oh well. Too many questions and risks. I'll look for something without an atom bomb attached to it with my cash.
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gggmann
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In reply to bhanacik • 11:47a, 10/30/24
AG
bhanacik said:
I bought the dip yesterday on SOFI, wish I had bought more. still have some orders in for selling some puts but looks like those won't be executing as the gap from yesterday is almost already closed.
Bought more LEAPS yesterday morning when it was below $10.
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Brian Earl Spilner
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11:58a, 10/30/24
AG
SMCI finally announced its earnings call.

Quote:
Super Micro Computer, Inc. (SMCI), a Total IT Solution Provider for AI, Cloud, Storage, and 5G/Edge, today announced that it will provide a first quarter fiscal 2025 business update on Tuesday, November 5, 2024, at 5:00 p.m. ET / 2:00 p.m. PT.
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ProgN
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In reply to tlh3842 • 12:28p, 10/30/24
tlh3842 said:
Would like ProgN analysis of the SMCI news
Ok, let me start by saying I'm sorry I brought this to the board and it hurts me considerably. I did not see anything in my analysis that what's going on now was even a possibility, apparently WS firms didn't either. That said, I haven't sold a share, but I will not be adding any to my positions either. I've experienced enough pain thus far that I'm going to wait out until all the facts come to light. No lie, this morning's events are very disconcerting, but I'd drink myself to death if I compounded a wrong decision with another by selling now, should the facts not be as bad as it sounds.

My advice at the moment is to avoid it because it's going to get absolutely pounded by the shorts, lawsuits, PR, etc. My positions will essentially be dead money until they get their **** straight. Don't try to call a bottom, because it usually will go lower. Throw out all technicals like oversold, support, RSI, etc. because this stock will not trade off technicals, WS won't touch it until the facts come out and the clouds disappear.

Again, I am truly sorry for what's happening to a lot of people that put trust in me. I love this place and I will do better going forward.

Prog
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techno-ag
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In reply to ProgN • 12:31p, 10/30/24
AG
Perhaps a buying opportunity for those not currently in it.
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ProgN
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In reply to techno-ag • 12:36p, 10/30/24
I don't think the news will be as awful as everyone is assuming. That said, if you're establishing a new position just nibble, don't go balls deep because this stock now has a lot of headwinds and it will not just snap back. BES just posted above the date of their earnings, so I'd suggest waiting for that. The street dgas about their earnings number or guidance, they want answers from the company. I'd rather buy it at $40 as it heads to $70 on good news, than buy it at $33 on it's way to $20 if they did commit flat out fraud.
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Heineken-Ashi
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In reply to techno-ag • 12:39p, 10/30/24
techno-ag said:
Perhaps a buying opportunity for those not currently in it.
Why? Unless you are very short term with your approach, you would be attempting to catch a knife.

I don't get what's so hard to understand here. This board needs to remove its obsession with stocks that are clearly done winning and have considerable headwinds ahead. I get it if you are a bagholder. But like ProgN said, don't compound a mistake with more mistakes.

To put in better terms.. Once Nussmeier threw the first pick and momentum turned, he needed to bury that play and focus on taking the easy wins to re-establish momentum. Instead, he tried to play hero ball and compounded the mistakes. And he was dead in the water.

Don't be Nussmeier. There are PLENTY of stocks out there. Focus on what is heading in the right direction and delete SMCI from your watchlists.
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Gaeilge
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12:42p, 10/30/24
If you want to get in on it, I'd sell Naked Puts. Collect the premium and if you get called, you own it for a bit cheaper than the strike.
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