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INKW board says they are leaving the pinks for the Nasdaq. And the Bid is higher than the Ask. Will definitely be interested to see how it opens. Same for another one I have been flipping since 2019: SNDD. Chart looked so nice at the end of day, I might raise my next exit price. I have been selling into the rally.
As for that $3000 max that forces you to carry forward the rest of your capital losses, that is a crime against the taxpayer. If they adjusted that for inflation like they do for the Social Security threshold every year, it would be much higher. And I will be in that boat starting this year. The disastrous mistake was last year, but the company does not finish going through Chapter 11 until this year. Indeed my deadline to file a claim was today. That’s why I booked losses to exceed my gains by just under 3k for 2020. Which means some old time losers* that have been sitting there for over a decade will probably stay there for another decade or two.
* think reverse splits—and ticker changes from a time when that was not a good thing
Wait, now Gare has to pick a winner —and a new one at that—every day?! That is a tall order. Although you could probably do all right with a monkey and a dart board. It is like the Dot Com Boom right now. A little scary. Remember how that one ended.
Seems like the extra two trillion in dollar dilution is being priced into the pink sheets, as much as the blue chips. And, of course, there is crypto and metals. I have seen a lot of stocks that have been quiet for a year or more waking up to perhaps unexplainable, or (more importantly) unsustainable gains. Every FUD-laden dog that had three zeros after the decimal point is having its day.
As for INKW (Greene Concepts, maker of Be Water), that was one where I sold some on New Year’s Eve for a tax loss. So, of course it went from 0.0018 to 14 cents. Fortunately I held on to more shares than I sold and am playing with house money again. Good thing I averaged in over the last 20 months or so. INKW is one of the first where I took profits and then started buying again a month later at a declining price. (Taking those early profits make the 90% drops a little easier to stomach.)
Meanwhile, DOMR was up today, but still well off that recent spike, which—darn it— I missed selling into. Thinly traded so tricky trying to buy on dips to lower your average. You might get a partial fill that is more commission than stock. Guess I could try an All-or-none order.
I think we flipped a little too soon, K1. Glad I raised my limit a few bucks before Monday open, but this might run all week.
Eventually somebody is going to compete with Grayscale in this space, but not sure who or when. That might explain why the premium is not quite as high as it has been. (I always appreciate those updates from FooBar&Grill.) Today, who needed it? Premium, schmemium.
Good luck to you and everyone. IMHO much of the government largesse is getting priced into the market, but not just blue chips. Seeing it in stinky pinkies and of course here and in other alternatives to fiat.
Glad everyone is having fun, but I would advise some caution and putting a little aside for when the pain comes. Hard to believe a lot of people are not going to get hurt in the near future. Some investment advice I wish I had been given 25 years ago: When you hit a grand slam home run, remember to touch all the bags; don't forget home.
Finished the day 7 ticks to the green -- Sweet! Let's do that again tomorrow, VIBI. Love to see that 2 turn into a 3. Long time coming.
Heck of a run, ADA, from the teens last year. Tough to resist not taking some off the table here, but... best not to watch it. Somebody want to wake me when it gets to 95 cents? Thanks, I'd appreciate it.
Thanks for the TIP on TPII, Z man. I guess I should have patiently waited for the inevitable dip, but my first toes in the water were a month ago and that was a high point on the chart for a while. Maybe because you were still enthusiastic, I averaged in again at a much lower cost with a slightly larger lot of shares. Happy to see we have broken out past the last two high points on the monthly chart. Enough so that I sold that first lot for a nice 32% today. Not playing with house money yet, but my remaining lot of shares is 100% green ... for now. And who knows where the resistance is, now that we are above the recent highs.
Not that I am really a chartist, but let's take a look: Have to go back to spring of 2019 to see higher prices. So maybe 15 cents will be the next price to break through. Almost there now, then... 20? ... 30? And what was the volume 20 months ago? Looks like nothing compared to now.
Low premium good for those who want in without paying extra for FOMO. Not so good for those who wanted an extra 10% for their flippin' shares (darn it). New high in the currency, not so in this.
Oh, well, that's OK. Patience has paid off so far. Patiently waited two weeks to get back in after it peaked. Patiently waited two weeks since the recent lows. Guess I can wait another couple of weeks.
As nice as a penny close would be, I am OK with it finishing under. Give it a goal for next week. And then stay over that penny mark for a month or two. And do so with ease. No desperate calls to slap the Ask to keep it up or any of that weak pinky sauce. Just steadily go up as the company adds value. And then never look back.
A hundred percent up is a lot. Not surprised by the pull back. A year ago, I bought every drop below 0.008, but I am already reloaded, and I want the chart to look less spiky. There are two sides to a spike; that is what makes them so pointy.
You might get that breather; it is Friday after all. Me, I signed on to my IRA account to see that all of my crazy high limit orders, one crazier and higher than the next, all went through in about ten minutes. Oops! That was not how that was supposed to work.
Oh, well. Happy Friday. Still got lots of shares, most if not all of them "free" at this point. And certainly all of them green. Whenever this hits a penny, it becomes a ten-bagger for me, as far as my cheapest shares go. Now I want a 100-bagger, but I will take a 40-bagger. Been waiting for four cents for quite some time.
I only have one other penny doing better than this one; no surprise it is in the MJ/CBD sector. Won't mention the name, but was 0.0018 on New Year's Eve and hit 13 cents yesterday, making it my best pinky, percentage gain-wise, but I have more shares here, so I would love to see that kind of result with Hawk.
Fly, fly fly... oh, and where's Jelly? (Oh, wait, he said he would not post again until 2 cents. Let's get make that happen!)
I predict you will be able to reload cheaper. If you put in a bid at 0.0005 or 0.0004 and it catches, you will reduce the cost basis for those shares by quite a percentage. Entirely up to you though, but I don’t think I am going out on much of limb. Look at the swings on the daily chart.
Me, I will take another pop up first.
Either just below my Ask, or WAY higher. That is where this is headed today. Glad I raised that price. Probably should have raised it more.*
What a nice multi-day run for INKW. This was one of my first profitable pennies, way back in 2019 and now it is by far the best gainer percentage-wise. Dollar-wise, I would have to check... he said, thinking, "Why didn't I load more cheapies when I had the chance?!?"
*(My next sell-into-the-rally point will be above 20 cents. Still looking forward to that 100-bagger. Left 50-bagger in the dust today.)
Just need two more days like today percentage-wise and I will have that 100-bagger on my cheapest lot of shares. That is not too much to ask, is it?
: - )
Go, INKW!
Be Greene, Be Rally, Be Moonshot... Be Water
(But don't be TOO greedy)
Sold a little, so thanks for the pop. Met my price. Now I do not know where my next exit level is, but will re-enter if it drops. Have been trading this for nearly two years. Without having to check my records, I am pretty sure I am back to playing with house money
If? I spoke the truth regarding brokers, did I not? You cannot buy crypto from a stock broker. (Grayscale and soon-to-be-competing trusts notwithstanding.)
Basically I went into (extreme) State the Obvious mode to answer what sounded like a newbie question. With which brokers can I buy XRP? Not exchanges, but brokers, as in Fidelity, Schwab, TDA, E*trade... That would be zero was my answer. I also pointed out that yes, XRP still is affected by the company that holds the most of it, Ripple, for the obvious reason that it holds the most of it--like 55%. But XRP is not a share of Ripple.
Why did the exchanges stop trading? I assume that is rhetorical. They made a business decision because of the SEC lawsuit. Smarter people than I can chime in on the merits of the lawsuit, but I doubt when the dust settles, that I will be a proud shareholder in Ripple. Maybe this case holds up and Ripple top brass have to pay a fine; and maybe that hits the price, if they have to liquidate some XRP to pay it.
The fact that they are fighting it in the manner that they are is also a business/legal decision. I don't look at these people as heroes, or us as rebels. I doubt that XRP is the rebel's coin of choice. (The lastest Last Week in Crypto from Cryto Casey reminded me of that.) But we want to cover our bases, depending on how things shake out with inflation, Central banks, the dollar as the reserve currency, the IMF and the future of money movement. (Have I left anything out?)
Business decisions brought about by legal action happen all the time. Think E Harmony adding a website for homosexuals. ?!? Uh... Okay.
Excellent, Ben, you got in nice and low. I started too soon, last summer, I think. Last buy was August. We are up a modest 12% from there.
Like I said, other objects, some of them shiny, have more of my attention right now. Wish you well here and, more importantly on that other one we are in, something 'hawk. (Fidelity still calls it by its previous name.)
: - )
Oh, dear, are you here, too, Ben? Weeeeee? Indeed. Hope you bought low and sold into the rally. I cut my position in half last week at 2 and a quarter cents. May replenish if this drops below 1.2 cents. (Thank goodness for zero commissions.) Although I am paying more attention to some other plays, big and small, right now.
PS, before you PM, note that I do not.
You cannot buy XRP from a stock broker, because XRP is not a security. XRP is not a share of stock in any company, not even the company listed erroneously on the top of the page here. It is not a share of Ripple. Ripple is not a publicly traded company, nor does owning XRP get you IN, pre-IPO. (You can invest in Ripple if you are an accredited investor, i.e., a millionaire or high income earner, using a company like Linqto, about which you can get information if you sign up with Uphold.)
If you want to know the price of XRP in dollars, you can type XRPUSD in the Get Quote field here. But XRP is not Ripple. Other crypto currencies have a symbol and a name. XLM (made by the same guy who started XRP) stands for Stellar Lumens. But XRP does not stand for anything else. It is just XRP. Not Ripple. Not a piece of Ripple. The company called Ripple owns a little over half of all the XRP in existence, so that explains the confusion. By the way, most of that XRP is time-locked in over fifty escrow accounts that allows for a little bit of XRP to be injected into the market every month; usually only a small percentage of that does come into the market, sometimes none at all, and the rest goes back into escrow for another four and a half years. (XRP is a long play, not a flash mob play.) However, things do not work the other way around. Even though the fate of Ripple (the company who owns the most XRP) and the fate of the currency appear (understandably) intertwined, owning XRP does not give you ownership of even a fraction of the company called Ripple.
XRP is a crypto currency. That is why when this discussion makes the top 50 Hot Boards, all the columns about price, percentage change, and volume are blank. That is why there is no daily chart on the right side of these posts. Those are only for stocks that trade Monday through Friday when the STOCK market is open. The market in crypto currencies is NEVER closed (although your ability to access an online exchange may vary when volume is high and trading is volatile). Crypto currencies never sleep. And XRP is a crypto currency.
Case closed, SEC.
Maybe I will have better luck with TP!I or Ess El Vee (one I have been playing for over a decade). Plus I did a “revenge trade” with Pa1antir, and you almost can’t go wrong selling options on that one. “Oh, no, I got assigned! Now I am the proud owner of more shares AND I get to keep my option premium?!? Boo hoo... all the way to the bank!”
Congrats to old SCIE bag holders who bailed, and to new SCIE bag holders... good luck. It has taken nearly two years, but many of the two dozen turkeys I chased have finally come around green. It can happen. Crazy time right now. I try to balance out the lotto tickets with some real companies. A certain pharma I could mention, or a telco, or maybe a food and beverage seller. Look for dips, and for when they go ex dividend to time value your options. (Just a suggestion; do your own decision-making.)
Hey, just because Cramer was wrong this time, does not mean it was bad advice in general.
: - )
But [mad chuckle] this time it was indeed a grand slam. Enjoy the victory, Short Squeeze Squad! Finishing above 320 was, how should I put it...? Impressive, most impressive.
Curious as to how many people actually held onto a call until the end and will be picking up 100 shares for 32k. If that was unexpected, and feels a bit intimidating, the good news is you can sell a covered call on Monday for over $100* at the same strike price. Maybe. Depending on what kind of momentum builds over the weekend.
*which translates to 10k. Dang, the biggest option I ever sold was for $19.
Just to see how much pull you have, Z, before a run, I picked up some at 0.001, not enough to break me, and will only make me if it does something ridiculous to the upside. Like a dollar.
If more than the float can be shorted, not sure they care about the shares you might think you are "locking up" with a crazy way out of the money limit order.
Huge open interest for 200 and 320 calls. Think 320 might have left the building today, but your 200 calls being in the money still look like a strong possibility.
That is what Robinhood and company are probably concerned about. Of the people who are well ITM, how many are going to close their option positions in the last 15 minutes of the day? How many are in a position to actually have the 100 shares per contract assigned to them at the strike price? Each 200 strike call expiring today is 20k. How many people who trade on a phone app have that available? I am curious to see how this plays out.
A couple of days ago, I said the short squeeze would definitely be considered a success if GME finishes above 150. Over 200 would be at least a multi-run dinger, if not a grand slam. Over 320 would certainly be a game-winning walk-off salami IMO.
Not encouraging anyone to do anything crazy; just saying.
Probably just to spite me; I use Uphold and, as you know, MS, Uphold does not trade DOGE (at least not in the US). They tease you by showing the price under their Markets tab, but I cannot buy it there. It is blocked, along with Decred, IOTA, NEM, NEO,and Tron, Why they even show those, I do not know. I guess non-US customers can trade those.
Of course, if you can buy DOGE through ShapeShift, then I screwed myself. I signed up for their beta two years ago and have never gotten around to doing anything with them. Haven't even plugged in the hard wallet and got my passphrase or whatever yet. I got as far as downloading Brave (because I will be damned if I will use Google Chrome), but that is it.
So, did every crypto pop before sunrise? I got an alert about GBTC hitting 38.50, but by the time I noticed it, it had slid to 37 and now is back to 36. Oh, well, at least my silver plays are looking good.
Just about every major broker except Fidelity will let you trade this. Fidelity says "Opening transactions for Pink Sheets (without information) are not permitted."
E*Trade will let you trade it (because they will let you trade just about any piece of garbage). So will TD Ameritrade (whose comissions are so much higher than E*trade for me, I may never trade with them again, except to close positions). Schwab will let you buy it, too, and it looks like no commission on the entry. (It will probably cost at least a penny in fees to sell. That is what I have had with Fidelity since using them to buy pinkies--some pinkies, no less stinky than this one--at zero commission.)
Glad I sold a cash covered put Wednesday. Love when timing works out perfectly. Then I had to check my open orders to make sure I was not selling any covered calls just yet. Phew!
History: last peak was around 50 at the end of April 2011. Then Will and Kate got married and Bin Laden got Zero Dark Thirtied and the price was down at least 10% by the time the London market opened after a long weekend* and SLV continued to slide for about 8 years to the teens.
*for some crazy reason, Brits celebrate the communist holiday at the beginning of May.
I would think that if the price holds through tomorrow anywhere over 150, that is a win for the short squeeze squad, because then a whole lot of options expirations have to be reconciled. Myself I took a small profit closing a put position during that first big slide of the day. Just a drop in the bucket of options volume today, and there are still quite a few Friday contracts open. Not all of them puts, needless to say.
Good Luck to everyone, especially the poor guy left to turn out the lights. The good news is you do not have to buy a hundred shares to slap the ask. You could just buy 1 share to take part in the fun.
Good call... so far, GL with the FOMO. May you all be on the right side of it.
PS A certain broker that I like for pennies, because they extend the zero commission to them... won’t allow an opening transaction. Identified as a Pink Sheet without information. So I assume good old sell-you-anything E*trade will, for a price.
Swing of 12.75 today is a new record, I think. And people want to bad-mouth this stock. Good grief. What is not to like with this volatility? I know this website isn’t called Day Traders Hub, but don’t tell me there are no speculators here, just long-term holders. (Why would they need to be checking bulletin boards? Just buy and hold until this starts splitting and paying a dividend. Set it and forget it.)
Me, I want to hold a core and play with the rest. Somebody once said not to get emotional about any stock.* If you are feeling a lot of FOMO, maybe it is time to sell a covered call to someone who is feeling it, too. Let that FOMO work for you. If I sell, it will be at a high strike and with a fat premium, at least 10% of the strike price, plus a little extra to cover the next commission. That way you can buy it back for a song when expiration nears; you don’t want to get burned by a six point move against you on the last day of the contract. Ouch! (Never happened to me, but I know a guy...)
: - )
*Who was that?
Oh, I see; sorry, did not see that at first. Now I am humbled. I think that is a first for me. Been here almost 2 years.
And off we go, PLTR, bucking the pattern it has had for many days -- until taking off on Friday. So much for this ones predictability.
I would sell a covered call here myself, but do not have enough shares. Don't want to be the poor guy who sold a GME covered call option at a strike of $70.
If that is a compliment, I thank you.
As for puts, the time to buy them on this one is usually in the first hour of the day when it pops. The pattern was gone Friday. Is it back?
Or if you are holding hundreds of shares and want to protect some of your profits, you could sell a covered call.
Have common Wall Street maxims got you confused? Here is one: Buy the rumor, sell the fact. (aka Buy on the rumor, sell on the news.). Guess what? The news does not actually have to be good once it finally happens. Likewise, the stock going down does not mean the news was bad. It just means profit-takers took their profits and moved on to the next rumor. Timing is not always exact; sometimes you get some follow through, sometimes the enthusiasm fades early. (If the “meat of move” has happened, why wait to cash out?)
In the case of PLTR, the latter possibility seems likely. I don’t know if you noticed, but it was up about 50% in less than two days. Frankly, I think there was more to that than demo day. Short squeeze maybe; FOMO certainly; and, with all due respect to the combined strength of iHub posters, we probably do little to set the price of this. Maybe big players want it to be higher for the next anticipated event, which, by the way, is not always positive. Rumors can be negative, too, in which case you flip the script. Actually we have two big events coming, the quarterly report followed quickly by the end of the lock up period for early investors to sell their shares. Let the FUD flow. This drops another 10%, that works for me; more options.
So, I hope that sell was a gain. You were a soldier in the short squeeze army and at least doubled your money, right...?
And I am thinking it is NOT a once in a lifetime thing. Thinking you guys could move on to another one, once you are done with GME. (Frankly, I am guessing it is grossly over-valued at 150, never mind the After Hours numbers.) Don't the quarterly reports show a 4 dollar a share loss or something like that?
There is a short squeeze pirate guy somewhere on this board. I forget his handle. Or maybe he actually is a shorter; anyway, one or the other. It has been a while since I have seen one of his posts. I must not be on the right boards.
Seems like this GME thing has knocked Bitcoin off the front page. Cryptos in the doldrums this week, while lots of stinky pinky tickers looking like winning lottery tickets. Not that GME was a penny stock, but you get the idea.
And I thought PLTR was on a tear. Dang, I guess you cannot watch everything. I wonder if the gloss will be off the pumpkin (to mix metaphors) later in the week. Option premiums are high, but could be something I might take a stab at: buy something on Thursday, with an expiration date on Friday.
Adding limit orders to Uphold would be great. That would be my improvement suggestion, too. Then I could just put in an order for something less than two bits and not watch this every day.
It is like watching paint dry; same for all the top ten cryptos this week. Penny stocks have been stealing their thunder. Sold into a couple more rallies today. Did the same yesterday. Will do the same tomorrow if any stinky pinkies reach the price of my crazy limit orders.
DOMR, which had been green, back down today. Maybe at a bargain price again? Ha ha ha!
Ugh, that is my punishment for not having set a limit order (greedy or otherwise) to exit completely or at least reduce my position. Now there is a big unrealized red number staring at me today. (Oh, well, at least it will be gone tomorrow.)
Always take profits. That is why I sold some INKW today. And ADSV. House money remains on the table.
I can appreciate the selling into the rally. Did some myself so I can be playing with house money again. Have not been able to say that since 2019. Indeed you have to go back two years to see when last we were at these levels. We are in rarefied air right now.
I think the news is better than whatever pumped it over 4 cents back in early 2019, so, if it is for real, I would expect new highs. I would like to see INKW go over 3 and half cents before even thinking about taking any more off the table. Does not look like it is happening today. Maybe tomorrow.
Apparently was a Reddit front page short squeeze. They squeezed the GME shorts just for the heck of it. So now I have to have to pay attention to Reddit?!? Fabulous. Hmm, wonder what the option situation is...
Hmm, I sold 51's and 52's today. That's not very good spacing. Oh, well, got my buy low and sell high orders in for the next swing.
You throwing out 0.017 makes me nostalgic. The first time I sold enough to be playing with house money, that was the price. That was back at the end of March 2019. Long time waiting, ocassionally averaging in since then. Was finally able to see green again with Greene. Hoo-ray!
Congrats to those riding the demo day pop. Do we get a drop tomorrow? (The second half of Buy on the Rumor, Sell on the Fact.)
I want to say today was a little more par for the course, with the big up open followed by a look-out-below decline, but just to mix things up, we came right back and added a decent amount to Friday's huge move.
Par for the course... ha! If par for the course is a 10 point swing. If it does that again, I may have to sell another cash covered put.