Well, as we saw TSLA get slammed from the $450 level it was at heading into the much hyped Battery Day event -- well, that's why I talked about hedging it so often. Recall that TSLA got slammed after last year's Full Self-Driving Day. The stock is up huge since those lows of course. As noted below, I've rolled down a few put hedges and covered some of my short calls on TSLA in … [Read more...] about Vaccine Trial Anecdote, Battery Day Sell-Off, Precious Metals, Stock Q’s
Trade Alert: I’m Not Hating The Stock Market Anymore
Well, as you might have noted late last week as the market's declines got deeper and the Nasdaq fell well into correction territory of more than 10% decline from its highs just [double checks calendar] three weeks ago, I no longer outright hate the stock market and most of the stock prices in it. Many of the names we'd trimmed and have been so cautious about have come down 15% … [Read more...] about Trade Alert: I’m Not Hating The Stock Market Anymore
SPACs, NFLX Cuties Controversy, TLSA Battery Day Hype, Too Many IPOs, Etc
Here's the transcript for this week's Live Q&A Chat. Q. Cody, Cramer's take, for what its worth, is that too much money is needed for the flood of IPO's that is coming and that will put ongoing pressure on tech, as people will use that for a source of funds and that essentially the same thing was what killed the market in 2000. My view is that was only one of the … [Read more...] about SPACs, NFLX Cuties Controversy, TLSA Battery Day Hype, Too Many IPOs, Etc
Don’t Be A Chicken In A Market Full Of Them
You ever been around chickens? I hadn’t spent much time around chickens since the days when I was a kid and my dad was a vet and a friend from down the road kept some chickens at our farm house for a year or two. But others in the midst of the pandemic, we had a garden and also ordered some chickens for land. I have to admit, I’ve grown quite fond of the chickens over the six … [Read more...] about Don’t Be A Chicken In A Market Full Of Them
The Hedges Revisited (With Amaris), GM’s Tied To NKLA Now, Golf Vs Investing, More
NFL starts tonight. I am excited because, even though I'm not the biggest sports fan in the world, I do enjoy watching the NFL and anybody who cares about sports at all is still starved for some sports. I bet $100 on the Texans to win the Super Bowl. Pays five grand if they do and I was surprised that the consensus is that the Texans aren't going to be great this year. Deshaun … [Read more...] about The Hedges Revisited (With Amaris), GM’s Tied To NKLA Now, Golf Vs Investing, More
Trim Stuff You Were Losing Sleep Over Last Night
On the flip side of yesterday's Trade Alert in which I suggested covering some shorts and/or nibbling some longs, if there are any names you'd wished you'd trimmed more of when the markets were closed at their lows yesterday, now's a good time to do so. If you were losing sleep last night over any of your positions that have been slammed off their recent highs, it's a sign that … [Read more...] about Trim Stuff You Were Losing Sleep Over Last Night
Trade Alert: Covering Some Shorts In The Reflecting Softbank Sun Light
You ever have a big blister that hurts but keeps getting bigger until finally it pops and though it really hurts at that moment, it actually makes you feel a bit better because now you know things can get back to normal? Is that a bad analogy for the 10-30% pullback in many of the highest flying momentum names? At any rate, many people almost feel a sense of relief at the … [Read more...] about Trade Alert: Covering Some Shorts In The Reflecting Softbank Sun Light
Where I Might Start Nibbling More Of Each Of Our Longs
Here's a list of most of our long positions including the dates and prices at which we started buying them and, by popular demand, the prices at which I'd consider nibbling more of each stock. You'll notice that most of the stock prices I'd look to nibble more at are 20-30% below current market valuations. Bitcoin, Amazon, Sony, Gold, Qualcomm are probably closest to the … [Read more...] about Where I Might Start Nibbling More Of Each Of Our Longs
Trade Alert: Small Covers, The Next Tesla, Other EV Stock, And More
Here's the transcript for this week's Live Q&A Chat. I'll start by noting that into this morning's crash-y market, I'm covering a small part of my SPY, SMH and IGV index short hedges. I'm not doing any outright buying so far. Q. Cody, Please give us the next TSLA! A. I'm working on finding the next TSLA every day. Not sure when I'll find a stock I like as much at the … [Read more...] about Trade Alert: Small Covers, The Next Tesla, Other EV Stock, And More
On The Virtues of Sitting
For years I've preached that we're not in a bubble, but it sure feels and looks like we are in one now. Is it only a matter of time before the market resets some of the valuations back down to more historical levels? Or is it possible that we are entering a new phase of valuations partly because interest rates remain near zero and/or negative in all major economies? Remember … [Read more...] about On The Virtues of Sitting