Space Hotels, Blow-Off Tops, I’m With You and More

Here’s the transcript from this week’s Trading With Cody Live Q&A chat.

Q. Cody, how is your daughter doing?

A. She’s adorable and doing well. Thank you for asking.

Q. The International Space Station is expected to be retired by the end of this decade. NASA is turning to companies to build private space stations in orbit and anticipates saving more than $1 billion per year as a result. NASA’s director of commercial spaceflight, Phil McAlister, told CNBC that the agency “received roughly about a dozen proposals” from a variety of companies for contracts.

A. I recently invested a small part of the hedge fund in a company called Axiom Space that will be doing exactly that…and starting the construction of their space hotel from the ISS itself.

Q. Besides Axiom Space, is there any other startup that you would recommend? Do you know if Axiom Space is still available and where if it is available?

A. I’m always looking at space start ups but I don’t have one that I’m investing in right now. Axiom was way oversubscribed.

Q. Should we just stay steady with our space positions going into the blow-off top?

A. Nothing wrong with trimming some if you’ve overly weighted on the space stocks too aggressively. But if you can handle them pulling back 30-50% (they might do that even if the blow-off top isn’t real), then I wouldn’t try to trade the space stocks around much.

Q. What do you think about the latest Roku earnings? The stock is off significantly from its highs earlier this year. Thank you!

A. The numbers are still strong, but the stock feels a bit like it’s out of favor as the world’s investors have decided the pandemic must now be over (it might or might not be over yet).

Q. Cody, what is your view of the MP earnings report? What would you rate it on today’s valuation?

A. Earnings report seemed strong. I’m holding my MP steady for now, trimmed some/hedged some at higher levels as noted repeatedly. I’d rate MP a 7/10 right now.

Q. Cody, thank you for all of your guidance. It’s very much appreciated. I’m getting tired of looking at Twitter and considering exiting the position after trimming shares purchased in March/April 2020. What are your views on Twitter? Thank you again!

A. I’m with you. I’m sick of looking at it, but it’s like, we literally bought it at the exact all-time lows so I have a hard time selling it. I hold a small position these days.

Q. Cody, thanks for QCOM! Much appreciated.

A. Rock on. Trim some.

Q. What do you think of MARA?

A. I’ve lost money in the hedge fund fighting the MARA. I think it’s silly and the valuation might make sense at like $10, not at $60. I still have some puts and stuff on MARA, but my own credibility in my head on this name is shot.

Q. Can family and friends also sign up on the sktls.com web site and get in on the airdrop?

A. Yes, thanks for asking. Anybody can sign up on sktls.com to join the space crypto community. In a week or two when we’ve got it set up and fully ready, (up to) the first 100,000 people who put their confidential wallet information into the app.sktls.com (the SKTLS wallet page) will receive an evenly distributed portion of the 100,000,000 initial airdrop. I’ll send out full details to Trading With Cody subscribers repeatedly starting in the next week or two when the SKTLS token system is fully ready to go. I’m so excited about this SKTLS token and the sktls.com Space Crypto Community.

Q. Has anyone figured out how to connect the Metamask wallet?

A. We’ll have a video tutorial up on the site soon about how to connect your Metamask wallet to sktls for the airdrop on January 1. Give us another few days to get it done.

Q. What are the best hedges to put on right now given a potential blow off top? How far out?

A. Ooh, always a tough question to answer. I’d buy just a few puts dated out a month or less on most indices and/or I’d short them out right just a bit. I’d also consider increasing some the size and number of your short crappy stocks if you have any. For most people at home though, just trimming a little of your longs and having plenty of cash is probably the best idea.

Q. Hi Cody. Does your hedge fund publish a list of positions and % of holdings? I imagine this is shared with your investors, is it available to TWC subscribers? Thanks!

A. Believe it or not, no the hedge fund doesn’t publish that. I let my investors know at the end of each quarter how we did, what some of the biggest and smallest positions are, along with some look back and look ahead analysis. The idea behind the hedge fund is to be hedged while taking a very long-term view of our approach.

Q. As a part of preparation for the blow-off top can you send us “where you’d buy more” list? Thank you in advance!

A. Let’s run through most of our names: AAPL, I’d buy more at $100. AMZN, I’d buy more at $3000. GOOG at $2500. TSLA at $800 or $900. MP below $30. ABNB at $150. BKSY at $8. DOCU at $200. FB at $320. FUBO at $25. INFI at $2.50. JD at $70. NFLX at $580. NKLA, no price I’d buy more, sitting tight with what I’ve got left. NVDA at $220. QCOM at $145. RDW at $12. RKLB at $13. ROKU at $220. SEDG at $260. $SNAP at $50. SPOT at $200. TSM at $110. UBER at $40.

Q. Do you have any interest in the Rivian ipo?

A. Big fan of Rivian. Depends on the valuation.

Q. We’ve mostly stayed away from the Marijuana revolution. Any names start to peak your interest as it seems the legit cos have separated themselves but many are still 50% – 90% off their highs? MJ ETF is an ugly chart, steer clear or are there some diamonds in that rough?

A. Yea, I’m thankful I stayed away from the marijuana stocks so far. I do think there’s gotta be some diamond in the rough out there, but I’m not sure what subsector of the pot industry I should even focus on.

Q. Any interest in Enjoy ENJY? Gene Munster is a big fan, or was at one time.

A. I didn’t go any further than its description: “Enjoy Technology, Inc. operates mobile retail stores in the United States, the United Kingdom, and Canada. The company was founded in 2015 and is headquartered in Palo Alto, California.” Not revolutionary.

That’s a wrap. Thank you all.