BLDE

South Platte said:

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BLDE

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Yeah. I am giving it 2 more weeks to show signs of life and then probably going to bail on at least half of my calls. Just zero volume and momentum and no meaningful catalyst until August when earnings come in.

Heineken-Ashi said:

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flashplayer said:

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South Platte said:

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BLDE

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Yeah. I am giving it 2 more weeks to show signs of life and then probably going to bail on at least half of my calls. Just zero volume and momentum and no meaningful catalyst until August when earnings come in.

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Literally nothing has changed from my last post when I was saying it could see a little lower. To put in terms more people can understand, look at it with 4hr or 1 day candles. If you can't see the reverse H&S, I don't know if I can help you. If it fails, it fails. But you don't bail on this setup until it breaks support IMO, and that comes in right now at $2.70.

This was not a short term play. That's why we bought calls between August and November.

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Understand, and I am referring to my August calls which probably account for close to half. If it ends up taking off I will still come out ahead for November but would rather get something back in case it does flop. Probably playing it more conservative than I should, but I put a decent bit into it so not wanting to lose 80% of it if I can avoid it. With less than a couple million $ of these shares moving daily, I'm just a little skeptical this one sticks to the script.

If it does pan out I am going to use the profits to fund one hell of a vacation and also donate 10% to your favorite charity.

Trust me, I get it. And this is a name that hasn't been able to follow through on a move since March of 2022 and that was short lived. But the setup fits both an EW perspective and a common technical perspective. If you need to lessen the load to feel comfortable then do that, as the original guidance was that your stop was premium paid. In fact, if its this much of a worry, I'd day go ahead and do that, even if you take a small loss on that portion. One of the hardest rules to learn, and one that took me a long time and some hard lessons, was to adhere to risk management on every trade, no matter how confident.

Brewmaster said:

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Dan Scott said:

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New updated. He didn't sell.

Just posted on Reddit.

https://www.reddit.com/r/Superstonk/s/b3ayVwxV93

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wow, didn't sell?? he's not too sharp. **** at least sell half at open this morning. It was clear even to a half assed trader like me it was coming down from that premarket peak.

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how hard did you hammer puts this morning?
if there's anything we've learned from this baffling saga is that it defies anything fundamental or technical and any of these spikes can evolve into weeklong inexplicable mad runs like several times in 21 and just a few wks ago, and the one person in the world that's seemed to be able to accurately gauge and even affect it is in deeper than ever with likely close to his entire net worth

currently up another 12% in overnight

What did I miss on CORZ?

What kind of time frame are you thinking on LTMAY? Weeks, months or longer?

I know this has been discussed a bit on here. Curious who and what affect this will have. Can't imagine it's good.

BREAKING 🚨: U.S. Banking System

FDIC warns that 63 Lenders are on the brink of insolvency due to banks sitting on $517 billion in unrealized losses pic.twitter.com/creciUQo7k

— Barchart (@Barchart) June 4, 2024

Percentage-wise it is still pretty small. Not saying it is good, but I think this article is a bet of a headline grabber.

Here is the entire article:

Unrealized losses in the US banking system are once again on the rise, according to new numbers from the Federal Deposit Insurance Corporation (FDIC).
In its Quarterly Banking Profile report, the FDIC says banks are now saddled with more than half a trillion dollars in paper losses on their balance sheets, due largely to exposure to the residential real estate market.

Unrealized losses represent the difference between the price banks paid for securities and the current market value of those assets.
Although banks can hold securities until they mature without marking them to market on their balance sheets, unrealized losses can become an extreme liability when banks need liquidity.

"Unrealized losses on available-for-sale and held-to-maturity securities increased by $39 billion to $517 billion in the first quarter. Higher unrealized losses on residential mortgage-backed securities, resulting from higher mortgage rates in the first quarter, drove the overall increase. This is the ninth straight quarter of unusually high unrealized losses since the Federal Reserve began to raise interest rates in first quarter 2022."
The FDIC also says that the number of lenders on its Problem Bank List rose last quarter. According to the agency, these banks are on the brink of insolvency due to financial, operational, or managerial weakness or a combination of such issues.

"The number of banks on the Problem Bank List, those with a CAMELS composite rating of '4' or '5' increased from 52 in fourth quarter 2023 to 63 in first quarter 2024. The number of problem banks represented 1.4% of total banks, which was within the normal range for non-crisis periods of 1% to 2% of all banks. Total assets held by problem banks increased $15.8 billion to $82.1 billion during the quarter."
While the FDIC says that the health of the US banking system is at no imminent risk, it warns that persistent inflation, volatile market rates and geopolitical concerns continue to put pressure on the industry.

"These issues could cause credit quality, earnings, and liquidity challenges for the industry. In addition, deterioration in certain loan portfolios, particularly office properties and credit card loans, continues to warrant monitoring. These issues, together with funding and margin pressures, will remain matters of ongoing supervisory attention by the FDIC."

That means they only need 27 more banks to be on the problem list before you reach 2% "crisis" threshold. That's 3 quarters away (or 2 depending what fiscal year they're using) if the pattern just observed is linear, which is doubtful.

man, if we could just sniff out which ones they are and then load up on puts for December.

$JPM sitting just above Psych-200 in pre-market with financials being a headline..........a push below at open could result in a scalpable fade but there is a rising trendline to catch it closely at 199......break that and it could rush to 197-196.....

Anyone else on ToS having issues? Price on the mobile app hasn't updated since the 7:25 candle

Edit: simulated account working just fine, it's only the live account that's frozen for some reason

El_duderino said:

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Anyone else on ToS having issues? Price on the mobile app hasn't updated since the 7:25 candle

Edit: simulated account working just fine, it's only the live account that's frozen for some reason

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I think you're right, I'm watching ES with zero movement so that tells me all I need to know.

Looks like it's back up after about a half hour

El_duderino said:

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Looks like it's back up after about a half hour

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Was hoping it'd accidentally throw a few BRK/A in my account, but no such luck.

Fan favorite $SNOW looking bullish in premarket......odd.

deddog said:

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Chef Elko said:

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ETrade is fumbling a gift with this. They are a discount broker making enemies with a massive group that supports DFV, a group that was already thrown under the bus with Robinhood. Bold move

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They must be getting a lot of pressure from someone, pretty high up on Wall Street or from the Administration.

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I understand it may not be what they want to do and they are being pressured, but letting this info get out is foolish. Then again, who knows if they even leaked it themselves or if it's even true. It should have stayed between management and their legal team. Now they just pissed off a lot of people for something they may or may not do. Amazing so many people out there get paid hundreds of thousands a year to be foolish.

Boeing taking off on word of a 250 jet order from Turkish Airline

FishrCoAg said:

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What kind of time frame are you thinking on LTMAY? Weeks, months or longer?

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No idea. Haven't done enough research. Just like the look of the chart.

Why are oil stocks taking suck a beating the last couple days? There was a sizable draw last week and OPEC confirmed their production cuts into 2025. You would think this may be more bullish, but stocks have taken a hit yesterday and this morning.

spud1910 said:

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What did I miss on CORZ?

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Quote:

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CoreWeave has made an offer to acquire Core Scientific (CORZ) for $5.75 per share, Bloomberg reported Tuesday, citing a person with knowledge of the matter.

The all-cash offer was made Monday and comes as CoreWeave seeks to enhance its artificial intelligence data center capacity, Bloomberg reported, citing the person.

The offer represents a 55% premium to Core Scientific's three-month volume-weighted average price as of May 31, the person reportedly told Bloomberg.

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txaggie_08 said:

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Why are oil stocks taking suck a beating the last couple days? There was a sizable draw last week and OPEC confirmed their production cuts into 2025. You would think this may be more bullish, but stocks have taken a hit yesterday and this morning.

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Because the downside wasn't exhausted.

Quote:

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"It's only when the markets are perceived to have exhausted themselves on the downside that they turn."

- Alan Greenspan

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McInnis 03 said:

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Fan favorite $SNOW looking bullish in premarket......odd.

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Trying a $SNOW short here.

McInnis 03 said:

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man, if we could just sniff out which ones they are and then load up on puts for December.

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On a similar note, I recall certain stocks that exploded after the 2020 election based on presumptive admin agendas. I wonder how we could prepare for a Biden re-election or Trump upset and take advantage of the post-election craze.

McInnis 03 said:

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man, if we could just sniff out which ones they are and then load up on puts for December.

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NYCB has to be one. Maybe OZK. Think it's gonna be banks with biggest exposure to CRE.

Does not likely include non-bank lenders which is a bit crazy cause they are in a bad spot too

Second fill on PLTM just went through.

***Biotech/Pharma stock alert**** (I cant find the old thread)

CRDL- just keep this one on your radar on a pullback into the 2.20-2.30 range. Just on a TA basis it could be forming a cup.