Raccoon got in a fight with our swing set and woke me up. The dog stayed inside last night, so we get a zoo visit to the backyard. I thought RH started trading at 6:30 ET or something odd like that?

Red Pear Luke said:

---

I think RobinHood opens at 8AM for early trading.

We are quickly approaching $27.50 on CLOV

---

I bet those little *******s push it to $30 premarket when they can start trading. That's why I was wondering.

Prognightmare said:

---

is it 6 or 7 am when the RHders get to start premarket trading?

---

I thought it was 8cst for RH.

Good morning all!

i see strike prices for CLOV have grown to 40 now for next week expiration...

sts7049 said:

---

i see strike prices for CLOV have grown to 40 now for next week expiration...

---

Holy crap. I took my profits and ran yesterday as I didn't expect it to keep going like this. Very happy with what I have unless this goes to 100.

No ragrets

For those of you in GOED with me. Here is information about the conference call where they will be discussing the recent acquisition of Appliances Connection and other developments. It's at 4:30 Eastern.

https://stocktwits.com/elijiah/message/341412215

LONG SCHLOSSNAGLE!

Challenger 17 said:

---

For those of you in GOED with me. Here is information about the conference call where they will be discussing the recent acquisition of Appliances Connection and other developments. It's at 4:30 Eastern.

https://stocktwits.com/elijiah/message/341412215

---

I am a rookie but I swear every time I am on a stock that has some big conference call, the stock tanks right after. No matter how good the news is.

McInnis 03 said:

---

LONG SCHLOSSNAGLE!

---

That's what she said.

WWR touching $5 PM...

Wednesday Macros

10's Break Through 1.50 as Momentum Players Ignore Inflation


Treasuries and EGBs (Euro Govt Bonds) rallied significantly overnight with the space in 10 years better by about 4 basis... There are changing tones towards inflation or ignoring inflation totally...We guess that the overnight rise of 9% for Chinese PPI or tomorrow's expectation of 4.7% for CPI, are being dwarfed by the momentum players of CTA's , Fast money, risk parity funds...granted there has been buying by Banks for HQLA, that we talked about yesterday, and pension funds derisking... But the move overnight was highlighted by a massive buyer of ultra futures at 4 am . Nothing liking taking today's 10 year auction at the highs... Squeezing any set up in shorts for the auction...buying at the highs is Never a good entry point, especially with a very strong resistance level of 1.47 next up. 5 years and bonds broke to new lows... We will see whether these are sustained through CPI and the 30 year auction tomorrow... Maybe there is a shortage of bonds and too much money looking for yields... We still are not a believer, but we warned that 10 years could reach 1.47...

Corporate issuance was less yesterday than Monday, but it still puts us at over 27 billion for the first two days of the week... It looked like HY CDX would break to new tights yesterday but spreads rebounded at the end of the day to close a smidgen tighter... In junk 4 borrowers priced 2.6 billion yesterday, including an upsized offering from Microstrategy... Who in their right mind would want to risk buying a bond on a company that is buying the most volatile asset in the world , which is Bitcoin... Bonds are for safe investments... Or at least buy converts where you get some upside... But conservative bonds at 6.125 yield backed by how Bitcoin does not give you any upside, with plenty of downside risk...??? Meanwhile we see corporations continue to buy back their debt to do financial engineering... GE has increased their tenders to 7 billion.

Give the next move to the Central Banks, especially the Fed and the ECB.. They have convinced many that inflation is transitory and that they will continue to buy bonds at a record pace... One could see the frustration in Gundlach's presentation yesterday, a good one for sure... He tried to talk up inflation, saying if housing prices were used instead of owner equivalent rent, CPI would be double to 8.4%... He talked about gold/copper ratios indicating a 10 year at 2.5%, while other stats indicate a 3% 10 year... He went on further to CCC debt , where most of the bonds, which have calls, are trading right below par... Historically when that happens, within two quarters you will have a double digit loss in this space.... Again he has been wrong, but we understand his frustration..

Traders have been bulldozed by momentum players once again... There is no liquidity in treasuries and the momentum players just go to the futures markets...the tug of war between those that are worried about inflation (us) and those that believe it is transitory continues...the Fed does not believe that wage pressures can exist in a world with 5.8% unemployment, they are in full denial... We will stick with what we learned in our freshman economics class, wage inflation is real and will bite the Fed hard... But for now we are giving the momentum players their room to push rates lower... Equities will continue to benefit.

When WSB gets involved, throw everything else out the window.

Carlo4 said:

---

sts7049 said:

---

i see strike prices for CLOV have grown to 40 now for next week expiration...

---

Holy crap. I took my profits and ran yesterday as I didn't expect it to keep going like this. Very happy with what I have unless this goes to 100.

No ragrets

---

Dear diary alert:

I have a knack for not selling covered calls on stocks where it's perfect for doing so... Early days of MGNI, WWR spike, ELOX, CWH

But also selling covered calls or sell way too early on stocks that go on crazy runs: QD, MGNI (sold at 19 then proceeded to run to 60), MVIS (9 &10 cc then proceeded to run to the 20s shortly after),

And don't get me started on buying options

And now CLOV:
was in at 14, averaged to 11,
sold 1 covered call at 16 after 35% gain,
next day sold half (200shares) at cup completion (16.5),
and after almost a 65% run in 2 days I sold a covered call for remaining shares (100) at $20.

And now it's pushing 27-28.

It's all on me, I have made money but have been leaving significant money on the table.

I have learned so much in a short time and I have a lot to learn still. I know I have violated/contradicted many of the trading strategies/rules (even though I strive to stick by them), it just hurts missing both sides of it.

That all being said I look forward to the next trade/mass accumulation to make more money


Sorry, rant over... Proceed with your daily scheduled programming.

The chart didn't tell this kind of story, if it did someone would have said to load up on CLOV at any value prior to the surge.

What likely happened is the REDDIT kids decided they'd squeeze CLOV in the best way they could so they bought the CRAP out of OTM calls, thereby forcing market makers who sold those calls short to buy up shares en masse in order to insure they had shares to cover their short obligations. This cycle goes onto massive overload when you start to add in the folks who were short (high % on CLOV) getting their asses handed to them by this runup and they start to buy back their short shares as well. You get double amplification of the rise which is what happened with GME, AMC, etc. The REDDIT kids know the recipe. It's the coordination and timing that has to be executed to pull it off. It's also what's going to get their asses handed to them if the SEC ever figures out or decides to make examples of someone.

That being said. GO CLOV.