Yes difficult weeks, goes to show how important it is to diversify and hedge. I have seen quite some volatility in the daily results but have actually not lost money since the beginning of February (and have missed the explosive TSLA put gain because of the coordinated buying at $610 last week).
I have killed most of my momentum stock positions, have sold TIGR, KOPN, INO and have reduced others (PRTA, ACTG, QCOM, IAC and CWH). In order not to be left without equity exposure if the market jumps back into bull-mode, I have accumulated lots of cheap SPACs in the $10 range. While there is no guarantee for these stock not to dip below $10 (some have already), the risk/reward is still asymmetric and I see them as some sort of cheap call options for a recovery. I got hit plenty on my bids at $10 plus pennies in IBER.U, THCA, THBR, ACAC and NGAC. Willing to buy more if and when. Also have bought APPH for less than half its price from two weeks ago.
On the other side, TSLA puts paying nicely over the past days and am looking to book some profits before the weekend (maybe a third).
Re THCA: bought some at $10.03 yesterday. After hours it traded back and forth between 10.02 and 10.10. Better ask HL what's up, nothing wrong with the stock.
I just called the trading desk at HL and they said there's an issue that they're aware of and they think it'll resolve itself at 14:30 when the US market opens.
I expect it'll open at or below $10 though. So my hopes of a merger announcement were incorrect.
What do we reckon with TSLA today once the regular market opens, smashing through into the 500's or rebounding up toward 700's?
What’s the view on oil, as I know we had some fellow CRUD holders on here, I bought in at the height of the mayhem and have held on since?
Demand is clearly going to pick up when economies reopen, but so should production.
Sent from my iPhone using Tapatalk
another rough day, down more in INO than I have made on all the other shares to date. Choose the wrong one to do my biggest trade on!
Dont think its worth selling now, just will ride it out and hope it goes up at some point
Well done Raffe - Tesla taking an absolute kicking. A lot of people going to be feeling the pain.
wow TUMBLING tezla TIME...how low will it go...
To be frank every single tip I've taken on this thread has been a stinker to date which just shows how hard it is to get this right. I've taken a bit of a battering this week and have liquidated a couple of the SPACs at a loss today. I've recalibrated my monthly savings to go into a global tracker at low cost, same with the cash remaining in the account and will let the non tracker funds and SPACs ride. Quite a lot is in Argo and I'll leave that as sure as eggs is eggs BTC will pump again one day.
Seems to me the star funds outperform the trackers because of the riskier stocks in there that pump when times are good. When the markets are less bullish they underperform the trackers. Net result - same overall performance as the trackers minus the large fees you paid to the fund manager. So I'll bear that in mind next time :)
TSLA bag holders gathering being quickly organised.
Tesla was @ $85 just 12 months ago. A way down to go yet I would think.
TIGR down 20% since market opened, what a day lol
Buying back some Tesla puts at half the price I sold earlier.
Someone who lies about the little things will lie about the big things too.
Meanwhile EYES was up 550% at one point :D
Sent from my iPhone using Tapatalk
I wonder if we'll see a final round of weakness for our favourite EV maker?
I think we have a fair chance to close at $570 or thereabouts?
Well, the late selloff never happened. I am somewhat miffed that IBKR went down five minutes before the close, was actually going to sell some more puts at the close. Hmmm.
Maybe it's good for something, now I remain very short Tezzla over the weekend. We shall see what Monday brings.
I have sold all of my remaining momentum stocks during the recovery rally this evening. no more ACTG, BBIO, APPH (already sold the rest earlier).
Now I only have a load of $10 SPACs and a handful of long-term holdings (have even reduced position size with those) and lots of cash.
Ready to look at new opportunities next week.
Bull trap.
I’ve had the worst week of my life in investing terms.
Turns out, the riskiest thing I spent money on this year, a McLaren, has turned out to be my safest investment.
Sadly, the wife didn’t think I was being serious when I told her that earlier.
Harsh
Sent from my iPhone using Tapatalk
It does sound like you dumped nearly all your chips onto SMP and Bitcoin. Hindsight is wonderful but it wasn't massively unexpected that either or both might run into headwinds. I've had a Chinese burn from my paper silver holdings personally but have learned the hard way to not over concentrate on any one investment.
Last edited by Padders; 6th March 2021 at 08:23.
Even if you were highly diversified it's been a bad week, at least for the non pros amongst us. Shorting does not feature in my skill set.
Doing nothing is still an OK option.
Superb car, love the color!
Great how kids react to cars. My Daimler Century is luxury on wheels, my 3 yo daughter hates it. My 36 yo Porsche -inherited from my dad who bought it from his mate 20 yrs ago when the guy emigrated - was in storage for the last 3.5 months and I'll be collecting it tomorrow and fit the newly upholstered seats (one crap seat from a breakers yard is currently mounted...).
She'll definitely want to go for a ride in it. Usually she falls asleep within 10 mins. in that old, smelly and noisy, car.
I think the old Porsches are great investments and fun btw.
Not my type of car, but I bet it's fun to drive.
My daughter (six) has already decided that she will get my old 987 Boxster when she is old enough to drive. So that's that.
Meantime, in electric Autoland.
Private investors in Maclarens, us managed Sipps in MX5s, the world is alright, it's back to normal
Sent from my Pixel 5 using Tapatalk
I sold a BTL property in summer. Put half the cash into HL share account (after maxing mine, daughter’s and wife’s ISAs) and bought the McLaren with the other half.
The way I’m seeing it now, if I’d not bought the McLaren, I’d probably have lost 25% of that money too.
Hence saying it was the safest bet I’ve made all year.
The car is quite likely to kill or maim me though, if the wife doesn’t do so when I tell her how much of our mortgage money I’ve lost.
If you've ever owned a TVR you will have had near death experiences daily so a Maclaren would feel like a Range Rover*
*Possibly
Sent from my Pixel 5 using Tapatalk
Looking at this graph with hindsight, it does seem utterly bonkers to have bought in at 1300p.
However, at the level it’s at now, it’s looking like a good time to buy in. It’s currently trading at 12% below its NAV.
Only if you think we’ve seen the worst of the fall in its holdings. I’m not convinced.
Mate I know it is stressful but hang in. You have 15 years minimum until retirement. It'll be back up; down, up, down and up again by then. I wish I'd hung on to all the stock I liquidated last year and that has now pumped (Lloyd's, Microfocus, IAG).
Sent from my SM-G950F using Tapatalk
Last edited by ryanb741; 6th March 2021 at 12:33.
Noticed Moderna (vaccine) share price has risen 379% in the last few months