Who’s More Scared, Real Estate, Crypto Crashes, SPAChaustion And More
Here’s the transcript for this week’s Trading With Cody Live Q&A Chat.
Q. Cody, what were the results of the recent who’s more scared poll?
A. I didn’t get as many replies as usual, but it was an overwhelming consensus that the bulls are more scared than the bears, at least last week that was the consensus.
Q. Who do you think is more scared right now- Institutional cryptocurrency holders, Institutional cryptocurrency skeptics , or mainstream Banks?
A. Great question, wish we could get a meaningful number of answers for some data.
Q. “Q. Cody, what were the results of the recent who’s more scared poll? A. I didn’t get as many replies as usual, but it was an overwhelming consensus that the bulls are more scared than the bears, at least last week that was the consensus.” What are your feelings about the possibility of another round of selling here?
A. I think trying to game the market this year will be next to impossible and that I’d rather focus on individual stocks than trying to game whether the market is about to sell off more. But yes, I do think the Small Cap Index and the S&P 500 and the DJIA will be down on the year at some point this year.
Q. How would you characterize the residential and commercial real estate markets right now? Can we draw any analogies to other recent spikes or crashes? Trying to see where this hype is headed.
A. I’d rather sell residential real estate than buy it right now. I’d rather buy NYC commercial real estate than sell it right now. Full disclosure, I personally did buy a 300 acre property with a house and barns and what not earlier this year but I’m now selling my 40 acre property with a house and barn.
Q. I would be interested to know what Cody thinks of today’s rout in the crypto markets. Is it just a long overdue but vicious correction or the beginning of a not much longer term sideways, bear market?
A. I’m not sure all cryptos will trade together in coming months and years. I like BTC, ETH and I’m working hard on understanding why Elon’s trying to make Dogecoin go mainstream. I have another smaller, newer crypto I”m also working on. Most cryptos will go to $0.
Q. Hey Cody. Crypto has been a wild ride this week. Where do you see BTC and ETH going for the rest of the year? Also, what are your current nibble prices for both?
A. I think ETH has more upside this year than BTC, if only because it’s not as crowded. I’d buy more BTC near $30k and I’d buy more ETH below $2500 as I mentioned here in the chat room as I had done for the hedge fund yesterday morning during the crash here.
Q. Cody, took my first nibble at COIN yesterday at 218 and it’s up 5.3% so far. What’s your next “add to” point?
A. I’d likely buy a little more COIN below $200 but I’m not in a rush.
Q. On the replay on the Space Revolution video you sent over the weekend, there was a question on Astra. I believe you said you had nothing to add on that company. Is HOL still rated a 6? Thank you!
A. Yes, at best it’s a 6.
Q. Cody, Your timing on SPCE is very unfortunate and frustrating!
A. Oh, I know and mea culpa.
Q. Cody along the SPCE line of thinking, I am thankful that you seem to be able to fail fast in these names when they don’t do the right things to thrive. Many of your subscribers probably took it on the chin if they weren’t in a name like SPCE early, but then again, it’s better than riding out a likely loser. Losses offset gains, that’s the deal. I hope you never lose the ability to prune deep when needed, because it keeps us all sharper and fresher.
A. Thank you for the kind words and you are right about the importance of being disciplined with our portfolio names. That said, ugh, I was so pissed this morning when I realized we’d sold our SPCE two days before the stock bounced. I strive to be better than this.
Q. “Q. Cody, Your timing on SPCE is very unfortunate and frustrating! A. Oh, I know and mea culpa.” That’s an unfair comment. Nobody bats 1000. We risk our own money by making our own decision. Cody’s track record speaks for itself.
A. Thanks for the kind words, but really I agree with the criticism and I strive to do better.
Q. Cody, what do you think of these stocks as they really haven’t performed well since your trade alerts: VACQ, HOL, SFTW, NSH, COIN? Should we be adding to any of these positions?
A. I thought I’ve been clear that I like VACQ and SFTW and not the other space stocks so much. COIN is fine, but obviously risky too.
Q. Cody, you rated TSLA a 7+ in the last position update, what would you rate it now? Thanks.
A. I’d still rate it at about a 7+ here.
Q. Any thoughts on SKLZ? Earnings last week showed strong revenue growth. Stock has been hammered with other SPACs – down 60% from Feb highs. Heavily shorted. Think we start to see the stronger SPAC cos separate themselves and bounce back?
A. Yes, I do think the good SPACs will start to naturally separate themselves from the bad ones as the SPAChuastion plays itself out. I like SKLZ as a company but when I worked on the valuation, I was not so impressed at these levels.
Q. Do you think its a good time to buy more PINS and JD?
A. I’d rather buy JD than PINS right now.
Q. Hi, what do you think about TSMC given Taiwans covid condition?
A. Covid cases are spiking in Taiwan after having been kept in check during the rest of the world’s crisis. I don’t think I’d try to game a Taiwan Covid impact on TSM and have no idea how you would try to anyway.
Q. Cody, I got stopped out of what-seemed-like some very promising Puts in TDOC, ZM, PTON, DOCU, and ROKU, BUT still believe these are wildly overvalued. Am I smoking somethin? Should I be nibbling at MaryJane stocks instead?
A. I don’t like to bet against great companies and some of the companies you mention are great. I do think TDOC is a bad company and I’ve been short it and/or long some TDOC puts occasionally.
Q. Any thoughts on SNOW? I believe that you have mentioned it before. Is there a price that you would consider starting a new position in it?
A. Yes, I like SNOW and I’ve been working on it but the valuation’s still not all that great even after it’s fallen in half.
Q. Cody, are you in on ACTCW ? Rumor has it that this is the SPAC for the big investment the new Sect. of Energy has in some EV firm?
A. Wait, what? Are you saying that the Republican Democrat Secretary of Energy is involved with a private firm that’s SPAC-ing? Uh, that sounds like something I would love to short rather than buy. Corruption isn’t investable.
Q. Cody, how about that buzzer shot by Lebron last night. Are the Lakers a team of destiny this year?
A. I sat down last night and turned on the end of the Memphis/SA game, but three minutes later, my wife came in the living room and joined me and I knew she’d rather watch Halston on Netflix than the games on TV. So I changed the channel/app to that. I don’t think the Lakers have a shot this year, hell I’d rather bet on Steph Curry than Lebron right now.
Q. Cody, how is Amaris? Hoping that the surgery was successful.
A. Thanks for asking. The surgery was successful and here’s Amaris Sunday morning with me. Lori took her back to Denver to get the eye checked up on this morning for tomorrow.
Thanks all, peace til next week.
