Is it dumb of me to consider that this still has a significant road ahead with the Reddit and retail attention and the fact that shorts have barely started to cover if at all? They kept doubling down for the past week and still has a huge short interest.

It feels like we just got started.

So i bought 8 shares of CLOV back in April after reading about it here on TexAgs. Thrilled to see it on the rise and I've read the articles out this morning that it could be the next AMC. But my question as a total novice is what do I need to do? Just hold on for the ride? I feel that I'm going to watch this thing incessantly today which doesn't really click with my job. Just trying to understand more of the predicament I'm in

You can set a limit sell order if you want to exit at a certain level, you can set a trailing stop loss so you get the benefit of upside but protect yourself from too much movement down if it pulls back, you can set a stop loss if you are content with where it is now and want to just make sure you have profits at these levels or slightly below locked in, or you can do nothing. None of those really require you to track at all.

Trailing stop gives you the most potential upside while protecting you on pull backs without you really ever needing to monitor moving forward.

Typically you would sell to get net free, and then let it ride. But with so little, just let it ride (unless you need the $160 right now).

Couple ways I'm feeling at the moment:

1). A dog who finally cornered a squirrel
2). Just hooked the biggest fish in the lake and hoping the line holds
3). Shooting free throws for a game 7 win.
4). About to catch a pop up for the 3rd out of the WS.

Just don't **** it up now. Realize your gains and use it to build more wealth is what I keep reminding myself.

Philip J Fry said:

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Couple ways I'm feeling at the moment:

1). A dog who finally cornered a squirrel
2). Just hooked the biggest fish in the lake and hoping the line holds
3). Shooting free throws for a game 7 win.
4). About to catch a pop up for the 3rd out of the WS.

Just don't **** it up now. Realize your gains and use it to build more wealth is what I keep reminding myself.

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Agreed.

I only had 65 shares at ~$14.50 basis. I'm just selling off blocks of 5 as the price goes up... $18, $18.50, $20, etc.


Edit: Actually I revised my plan. Holding off on selling until $25 and will sell 23 shares to get me net free. Then will let her ride.

When/if it hits $25 I will sell some of my calls to go net free then set a pretty deep stop.

Would you sell AMC for CLOV right now? I waited a couple days too late to get in and wonder if I really screwed up. Damn FOMO

I had like 350 shares with a 7.80 average ballpark. Bought in early for a few shares around 10 but definitely bought the most of it down low.

Sold off 125 shares this morning at 18.80 and just sold another 125 at 22.15. I have 100 left and letting it ride now. I have 200% profit on those at the moment. Edit - I'm putting a stop loss in at 19.50 just because.

I do not see this as a gamestop/amc level event, but I'm going to let the last 100 shares ride as I've already made back my money and then some.

These meme stocks are a psychological game in my opinion and most seem to follow a fairly similar pattern with the exception of GME which is kinda the "one ring to rule them all".

A lot of the run up starts at reasonable buy levels. Think low single digits to low teens. Psychologically, the small retail goobers on WSB see a lowish dollar value and are like oh cool I can jump in and grab 10 shares for $100 and join the cult. This starts to snowball and you get momentum in the form of a couple of days of 20% pops. If I'm playing I try to hop in right around here. At this point, it has the attention of large media outlets and the retail buyers start to fomo and you begin to see days of 40+% runs. Everyone starts proclaiming it the next GME (which still isn't remotely reasonable whatsoever at its market cap), people start throwing out $2 zillion price targets and you eventually see it run to a level where it's just not as cool to say oh hey I have 2 shares but spent $150. Price levels off and people begin to decide they are going to take profits while others think there's still the exorbitant GME upside (which was a perfect storm) and buy the dips. It yo-yos. You should be out at that point.

superunknown said:

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Would you sell AMC for CLOV right now? I waited a couple days too late to get in and wonder if I really screwed up. Damn FOMO

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Chamath is one of the head guys on CLOV and he was a big part of the GME squeeze if that tells you anything. I grabbed some Aug, Nov, and Dec options. Of course I hit a couple of 1000%ers this morning so I bought those with profits. The $30 options for August aren't expensive

Tormentos said:

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I had 4000sh at 8.50 cost basis. This morning I sold at 13, 17 , and then fully exited at 24.76. I am more than satisfied with that return on a decent size position for me, especially for a hold that was less than a couple months.

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Well done!

Chart is still screaming for another break up and SI still way up there increasing.

Is this a gamma squeeze situation with all the open contracts?

What amount would you set for a trailing stop on CLOV?

Wondering as well

I set a stop at 20. Happy with my gains over the past couple days and don't want to lose them.

Bought at 10, sold all of it at 23 and 25 today. Put a little into GME.

The hedgefunds have way too much influence in CLOV through options and stock. Sure, they'll let you have your 100% even 200%, but they'll never let this squeeze.

The hedgies are the ones doing the squeezing. They are just using WSBs for cover.

If it drops down to the 15 range, I may re-enter. I'm still long on the stock anyway.

So did I completely **** the bed by not selling this a few days ago?

Sex Panther said:

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So did I completely **** the bed by not selling this a few days ago?

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Wondering the same thing....

What was your entry point? I'm thinking about getting back in here soon.

Philip J Fry said:

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What was your entry point? I'm thinking about getting back in here soon.

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I entered a few months ago at 14.90 and have watched it do absolutely nothing until this week... now I'm kicking myself

Still some volatility in the options. I just sold some CC for tomorrow. If I get called, I sell at a nice profit. If i don't, my cost basis gets some improvement.

Sex Panther said:

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So did I completely **** the bed by not selling this a few days ago?

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I think another squeeze is coming in the next couple of months

It's a long term investment that will pay off either way. Squeeze or no squeeze.

This comment resonated with me for some reason:

Quote:

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I personally think you need the gamma squeeze here. Contracts dont expire until June 18th. It is this date that matters the most. If we get a close above say 18 or 20 then almost every option for June that existed 2 days ago would have to exercise. This is exactly what happened to GME. Traded mostly in a range week before the blow up and then on a Monday it exploded.

So all in all I wouldnt really expect this to do much except trade sideways or down even until next week. Then the week after that will be do or die for the stock

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I'm not jumping back in yet. I'll wait to see if it dips any further tomorrow and if I do, hold through next week.

Pretty sure that was the red dog reversal move this morning

Anyone thinking about getting back in CLOV here?

I did...i missed the boat and sold AMC way too early. though like one poster mentioned above i do think clov is good long term so i am okay holding and buying the dip.

I'm buying today

Seriously thinking about it. My line was 12. I'll see what it does in after market activity.