59 South said:

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Redler's morning video was short and to the point today. I like where his head is at:

• NIO trades special now like TSLA. 51.50 holds today could mean an entry for next leg up. If not, look for 8 day EMA test at 49.xx
• Jeff needs to freaking split his GD stock already 10:1. Then it goes 350 -> 1000 (AMZN of course, that's 10K share price pre potential split for you long holders).
• Have fun today, it's probably a digestion day ahead of the holidays. Have a beverage!

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Liked it this morning as well and looking forward to his 4:30EST 'Happy Hour" today. Should be informational and a good technical discussion. I really like his attitude, to the point approach and motivation he provides.

If I wanted to dip toe in on NIO as long position.... Anything below $50 a good entry point?

I see premarket is at 49 so wait and see if news from yesterday drops further?

Maybe a contingent order here

trip98 said:

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If I wanted to dip toe in on NIO as long position.... Anything below $50 a good entry point?

I see premarket is at 49 so wait and see if news from yesterday drops further?

Maybe a contingent order here

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I'd wait. See where this reverses from first. Its at $48.55 now premarket. I'm curious to see if this tests the $44/45 support range. I may be totally wrong but that is just my thoughts.

NIO pull back for sure

59 South said:

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Just watched Redler's morning video. I like where his head is at:

• NIO trades special now like TSLA. 51.50 holds today could mean an entry for next leg up. If not, look for 8 day EMA test at 49.xx
• Jeff needs to freaking split his GD stock already 10:1. Then it goes 350 -> 1000 (AMZN of course, that's 10K share price pre potential split for you long holders).
• Have fun today, it's probably a digestion day ahead of the holidays. Have a beverage!

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I've been thinking about this lately. Assuming TSLA continues up, Musk can surpass Bezos as the richest. You just know Bezos has an ego about that and a stock split would be an easy way for him to regain it pretty easily. After AAPL and TSLA run ups this year with the splits, I feel like it's just a matter of time before AMZN does it as well, just impossible to time it though.

McInnis 03 said:

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NIO pull back for sure

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Premarket pullback to prices not seen since Friday afternoon...

That said, lots of things could happen... note sig.

LUMN completed full cup yesterday so be interesting to see if a handle forms or if it has continuation.

oldarmy1 said:

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SNDL pot stock huge volume. Pumped and dumped I see a month ago and secondary bounce last few days. Volume continues to race. Not sure if anything there but volume alert caught my attention.

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Place buys around .26 with this being the recent floor?

oldarmy1 said:

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LUMN completed full cup yesterday so be interesting to see if a handle forms or if it has continuation.

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Thanks. Will be watching it this morning and eye balling the 1/15 12cs.

Yep, agree. I just want to have enough shares to sell covered calls!

something for you to consider on trades:

Typically, when I see 10yr ave returns really high (near 20) in a category and see one with bad returns or low comparatively in a category, it is time to look at new leadership.

Small Value vs Large Growth
10yr ave: 9 vs 17
3yr ave: 3 vs 21

The value managers are getting excited and seeing things they haven't seen since 1999. Like cheapest oil reserves in 30+ yrs. The last time it was even close to this was 1999.

CVX was around 120 before covid.
JPM was around 140.
T was 39.
Compare that to growth stocks and they are at ATHs.

Maybe that isn't great growth vs what the growth stocks have done, but I am wondering if these value stocks are the ones to climb more vs growth from here. 2021 vs 2020 on earnings usually favors the value type stocks.

Musk isn't anywhere close to surpassing Bezos. Bezos would literally have to sell all of his investments, then spend half.

The thought of that is insane.

oldarmy1 said:

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SNDL pot stock huge volume. Pumped and dumped I see a month ago and secondary bounce last few days. Volume continues to race. Not sure if anything there but volume alert caught my attention.

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I went brought this up yesterday and was able to get shares for .30c and then sell $1 CCs for .15 which brought my cost basis down to just above longer term support

oldarmy1 said:

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Lavender Gooms said:

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Ok all you covered call experts, please help me out as I'm new to this. I bought 200 shares of MARA at $3.36/share last Friday and sold a single Dec 18 $2.50 call (per OA advice a few pages back) for $1.23. I guess my main question really is now what?

100 shares are at a cost basis of $2.13 and if that call gets exercised, I'll have made $0.37/share, right? Now I'll have 100 shares left. Would/could you sell another covered call to keep lowering my cost basis? Obviously it could get exercised and I am done with those initial 200 shares? Do you keep buying shares and selling more covered calls?

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Two things. This will be a great first experience to feel how price action impacts your trade. At the open tomorrow check to see the option price and determine what buying it back would total and then compare that to the stock price. When options run well into the money the margin between the share price and premium shrink and a Dec 18th likely only will have a nickel spread versus 37 cents. Your choice to end the trade on 100 shares pocketing the 32 cents a share. With a $2.13 buy price and 200 shares next time you would want to sell that $5 call for $0.60 someone else mentioned on 100.

2) Just hold the second 100 long. Leave it and see just what MARA has in the tank.

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Thanks OA and FJ for the answers. With the spike yesterday morning I ended up selling a March $9 call and bought back the $2.50 call. Ended up being pretty much even on that trade (I think I lost $9 total). Should have waited longer to buy back the $2.50 call since MARA was dropping at the time. Great learning experience!!!

tailgatetimer10 said:

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Musk isn't anywhere close to surpassing Bezos. Bezos would literally have to sell all of his investments, then spend half.

The thought of that is insane.

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https://www.bloomberg.com/billionaires/

Bezos is at 183B

Musk is at 136B

I realize Amazon is not going to stay stagnant, but, if it did, Musk needs a 34.6% increase to overtake Bezos.

TSLA is up almost 700% the past 12 months. Call it a bubble, or overvalued, but another 34.6% for Tesla on this run seems extremely do-able. This month alone it's up about 30%.

Touchless said:

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oldarmy1 said:

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Same question for the forum. What do you see?

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Did we end up getting an answer on what you see on this OA? I know some ideas were thrown out, mostly that it's likely institutional buying when you a significant increase in volume like that, but wasn't sure. I may have missed it though. I struggle to understand what volume is telling me so something I'm trying to understand more.

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tailgatetimer10 said:

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Musk isn't anywhere close to surpassing Bezos. Bezos would literally have to sell all of his investments, then spend half.

The thought of that is insane.

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Musk owns 21% of TSLA, which is now valued at $500B. IF he keeps this up, unlocks his stock option grants for hitting performance measures and then TSLA continues to be the unstoppable meme stock bull and hits close to that $1T mark, he would be neck and neck with ol Jeff.

Not saying it will happen now, or in 3-4 quarters, but the possibility is there. It also doesnt factor in a Starlink Spin-off IPO or Neural-link or Boring Company...

Ag13 said:

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tailgatetimer10 said:

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Musk isn't anywhere close to surpassing Bezos. Bezos would literally have to sell all of his investments, then spend half.

The thought of that is insane.

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https://www.bloomberg.com/billionaires/

Bezos is at 183B

Musk is at 136B

I realize Amazon is not going to stay stagnant, but, if it did, Musk needs a 34.6% increase to overtake Bezos.

TSLA is up almost 700% the past 12 months. Call it a bubble, or overvalued, but another 34.6% for Tesla on this run seems extremely do-able. This month alone it's up about 30%.

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Yep, if TSLA continues at all on this kind of terror, and it definitely could based on all of the call activity recently, then MUSK can pass him up. The thought may seem insane, but it's reality.

And if Amazon splits Bezos is at $500B in a week, we should encourage him to do that!

FSR moving up vs other EVs...

cptthunder said:

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oldarmy1 said:

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SNDL pot stock huge volume. Pumped and dumped I see a month ago and secondary bounce last few days. Volume continues to race. Not sure if anything there but volume alert caught my attention.

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I went brought this up yesterday and was able to get shares for .30c and then sell $1 CCs for .15 which brought my cost basis down to just above longer term support

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Love this! Net entry at $0.15 or homerun at $1.15

We need the MBIO volume solution from you

OA are you in those ATVI 12/18 80 calls?

oldarmy1 said:

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cptthunder said:

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oldarmy1 said:

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SNDL pot stock huge volume. Pumped and dumped I see a month ago and secondary bounce last few days. Volume continues to race. Not sure if anything there but volume alert caught my attention.

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I went brought this up yesterday and was able to get shares for .30c and then sell $1 CCs for .15 which brought my cost basis down to just above longer term support

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Love this! Net entry at $0.15 or homerun at $1.15

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Starting to grasp some concepts here...

ATVI

Is it true that the funds can't even buy TSLA until 12/21, so this is the pre-run up run up? I think Dan Shepard said that yesterday.

FJ43 said:

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ATVI

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Let's do this.....

0708aggie said:

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OA are you in those ATVI 12/18 80 calls?

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Yes added yesterday on twitter message. We need $77.50 and will press towards $79 to get righteous

Yep I got in, just wanted to make sure.

Any thoughts on buying back these 3/19 MGNI covered calls? I sold them for $2

Any of you get in on $ALPP at .185 yesterday? Its taken off again....

LLNW moving the right way