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Howdy Toofuzzy, I am usually a lurker on here, and a couple of times got great advice from the old guard on here!
I have been AIM’ing GBTC for a couple of years now, and it was an interesting ride. O am creative with Vealies when it runs, and I wish I had enough reserves when it got to the bottom.However I do it 100% in an IRA, so I injected some additional cash when possible. I usually make my sell decisions on friday mornings, it tends to be dumped prior to the weekends. (Prior to this weeks madness!). And mostly make my buys on Mondays. So I confess I use it more as a trading tool, rather than Lichello’s original wealth maker. I am insanely up over $100k this year. I have to pinch myself! Right now, I am making some sales, but also letting it run a little. I also have been dabbling with some of the SPAC warrants, I have been mostly successful, those require a lot of patience, which AIM certainly teaches.
I am curious if the traditional AIM algorithm is the best tool for trading? Anyway, sorry for rambling, but I am a huge fan of you guys on here! I do appreciate the banter on here, and I wish you all a Merry Christmas!
I agree with your insightful post. The greed is getting bad, and I will admit I am being greedy too. I plan to make enough to retire and be debt free. If God is good, i will do good with what I profit on. But hopefully when this house of cards comes crashing down, I will long gone from the markets.
I do think the big players will try to control the FOMO, probably by dumping from time to time. The old establishment does not play the “moon” investments, they play the long game, generational and legacy plays. Old money, is old money for a reason, they don’t like to mess around. So once the next year or two plays out, I suspect it will be a slower and steadier climb, the turtle will win this race.
GLTA, there is money to be made, just hang on to it!
The new ticker B*TW has some of all these. It is brand new, and volatile like crazy. Watch for it too, it might be a nice sidecar to GBTC when it steadies out. But GBTC is my main girl!!
Agreed, this article tries to make it sound sinister, and somehow a detriment.
Nice try.....
Searching as well. This might be dead money. Played this one as a gamble, which was just a brainfart. I usually play those with more info. But I think the rights are safe enough
I downloaded the APP as part of my DD. Impressive. Almost wants me to put my money in there instead! Lol, maybe, but just some fun money to have interest in the game. NOT to actually fund my retirement!
The rights to this are ridiculous. 10 equals a share. They should be over a dollar at least! I am going to make a killing when this moves
Correct me if I am wrong, but this is how I am playing it. If you buy 100 Warrants (HOFVW) for $1, I am really in effect buying rights for 142 shares.
So when I exercise, regardless of what the warrant price or share price is at that time, It will cost me $1150 to exercise (assuming no broker fee). So I will own 142 shares for a cost of $1250 ($100+$1150=$1250).
For example, using a future projected (reasonable!) share price of $30, my shares would be worth $4,260. For a cost of $1250.
Warrants can be a very valuable tool to utilize, IF you buy as early as possible, into a company or group of leaders that have a track record or a good industry position.
In some cases, I have jumped on the FOMO, and flipped, in a couple of cases I am in the hole(!) because I bought high but I intend to ride them out for several years. Lately, SPAC’s have been beaten up, and it is not good to see a lot of red. But, separate your flipping warrants from your long term holds.
There are some risks, and early forced redemptions, but the upside (for me) far outweighs any low probability downside.
It will help you emotionally!!
I think Greyscale is holding this back. My thinking is, they are buying up more than what is being produced, while they are opening up for qualified investors. Helping someone seriously load up(?), and when they are done, the lets see what happens. But it might take a little while. Or maybe I am completely wrong, and just paranoid!!!
Wow, had a lot of coffee today? The last half of your answer was helpful, but the first half was super defensive. Kinda worried about something I suppose. Anyway, have a nice day and for taking the time to respond.
What would happen if HOFV decided to go a cashless route on the warrants? Would warrant holders potentially get screwed and the 1:1.42 commitment be voided? I am hoping smarter people than me can chime in?
I agree, but it has to be played wisely!!
I am interested in How? BTC is traded all around the world and I am wondering who and why? The miners and whales would want to see it fly, it is supposed to be devoid of central bank involvement. Yet, somehow it is being manipulated. Do you have an answer? Or just guessing like me
There is clearly some type of manipulation here on BTC pricing. Its like every once in a while someone opens a valve, lets it go up, holds it, closes back on the valve and drops it, holds it etc. i am by no means a conspiracy theorist, but everything you read from legitimate sources talks about the new accounts, whales buying it up, less profitable miners holding unless they absolutely need cash. It is becoming a hard position to buy and hold these past few months. Especially as it mimics with the Dow, and does not seem to be acting as a contra place to put money. Rant over! Just wondering what other folks think. Stay safe everyone
SPAC’s remind me if the dot.com bubble a few years back. It became a craze, becoming more and more popular, folks piling in and buying, and eventually less quality companies taking advantage of people’s hysteria and offering “opportunities”. Massive fortunes made overnight. I am not saying we are there now, but the robinhood crowd are starting to almost blindly jump on any SPAC that moves (I exaggerate a little), so in my opinion, we have a while to take advantage of this amazing time, but it will become crowded and overplayed. So be ready to jump when that happens.
Just my 2 cents, and will “make hay while the sun shines”!!
Happy hunting for the next SPAC, and thanks for the tips!!
The warrants are ripe for a huge flip
I 100% agree, although I will occasionally have 20% of my stake with a larger % stop loss just to grab a little profit to have a stake for another SPAC, in case something collapses. In fact the other day with NKLA (shares), I had one stop loss kick in, and I put it here. In hindsight, it was not a bad move. But I will put some in both of these tomorrow once we see how the wind blows. A dropping tide lowers all boats out of sentiment!
Something is really holding this back. Article after article talks about the money flowing in to bitcoin, yet the prices moves in almost preset block prices, then rumbles along at that level until the next shift (up and down). Is it a whale trying to keep the price down, so the small miners go bust? I cant see what it is. Maybe it is a rubber band getting stretched more and more, and the dam will burst when the whale(s) finally run out of BTC to feed in? I am doing way better than expected in SPAC’s, and this is trying up capital while I wait for the big bang.
Frustrating GLTA
Subtract $11.59 from NKLA.
The Warrants are the steal of the century, if they maintain this gap!!! It wont happen, but Lordy! I have never been so heavily invested in something that has gone apeshit! Retirement 3 years earlier as of current!!!
I am leaning that way too. Eventually the free Gov money well, will dry up, then bitcoin will benefit big time, but looking at the markets right now, I think we are backing the wrong horse for the next couple of months and losing opportunities. Trump is flooding to keep the markets propped, and all normal investing rules are off the table. GLTU, I will keep a hand on this, but pulling my gains plus some of my stake.
At this point, does it make sense to have the warrants? If it just tracks the share price by 11.50, then does it really matter? I am just thinking that it would just be best to sell it now, to avoid the hassle of redeeming. Thoughts?
Got to let it run. The stops will be taken out and you will lose out on the run. You don’t lose taking a profit, but this one is still running.
Let your winners run, but sell the losers fast.... I don’t think this is a loser yet!
To hold or to sell. Hmmmm, my perspective is, if it drops over the weekend, I will be pissed. But, if it takes off, and I had not held, I will be VERY pissed!
So the choice for me is to hold, and at least be very quick on the trigger on Tuesday. I have a small fortune riding on this, but I am ready for the consequences if it goes south.
Finally, BOOM!!
I hope the Saudi’ telling the Russians, Oh yeah? “Here hold my beer” moment has passed.
Gbtc follows BTC. Research it, easier to trade....at your own risk. I ‘AIM’ it, and has been good for me, but it can be a white knuckle ride when it drops. But it does spike from time to time, you need to watch it daily in this case. Right now, quarantine time it is a little easier. But if you have a regular job, it can suck you in. But anyway, it is a way to do it.
IMHO good luck, stay safe, wash your hands!!!
All the institutional investors probably bailing out. Huge volume. Might settle up the next couple of days
Do you think it is worth hanging on to the few shares I have, to see what I get? I never came across something this before like this, not sure how to play it, and I cant find a good answer by googling it. Thanks in advance
Thats the good news, the bad news is that the death rate lags, because the newly diagnosed skew the number.
This has been very disappointing, considering the markets are flopping around like caught fish! Not what I would have expected.
I use this site, I keep pinned so I don’t forget it. It is handy.
https://crypto.neotechdevs.com/GBTC.jsp?chart=week#charts
I just put a mil for sale to get some cash, and sell the last of my holding. It sold before I could refresh my screen. Someone is buying, I hope they do well!
Here is a cool link to bookmark, might be a delay, but pretty close. Takes the calculation out of it, (lazy way!).
https://crypto.neotechdevs.com/GBTC.jsp?chart=day#charts
There is a page for the other two as well, but I don’t use them at the moment
36% Premium. GBTC will drop Monday if this maintains, I tend to wait until the premium is 28% or lower before I get an itchy finger to buy. IMO these dips are good times to pick some up. Conversely, I do take a little profit from time to time when this goes up, and the premium is above 33%. GBTC seems to overshoot on the ups and downs, so there is a couple of extra percentage points to be made trading this, instead on the actual coin.
Too many fees on the coin, less trading this stock.
GLTA.
Are you guaranteeing it?
I have been selling a couple of million a week, unloading this junk. Someone is buying,l(!) I will probably hold a couple of million to see if this scam get reactivated
I did, averaging in since.
I am not a big player, and had some wins and losses. But this and MGT! have blown it away. I have enough for myself and the wife now, grandkids up next. Then I plan to help others in my community. Years of playing the pennies, and in a couple of weeks I topped seven years of ticker watching! Thanks for the tip, your analysis is great! God bless brother.
Steve, I just lurk around ihub and never follow advice here. But I really want to shake your hand. Sold a bunch of BTSCAM and bought in here on my IRA. Sold there for a loss, which I hate to do this time of year. Wow, I am sure glad I did! Thanks for your analysis, and thanks for the early retirement!