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I do not know what that means, to be honest with you. And is that a gold chart? Did you mean to post that here for the HP (Helmerich & Payne) board?
Meanwhile, this one only trades monthly, not weekly options, but its 17.50 strike options expiring Friday are currently in play. Worth about a (current) dividend to sell a cash covered put. Day's range 59 to 85 cents. Quite tempting.
For all the disagreement, still see long-term play here. I will concede this was a corona play in the short-term, in the sense that it was down with everything else. Stocks both big and small, crypto’s, gold, lots of stuff on sale at bargain prices a month ago. If you bought SNDD then, you saw 100% gains at the beginning of last week—and sure, being filed under medical equipment (instead of say CBD or AR) did not hurt. By week end, half of those gains had disappeared—for the moment. It would not surprise me if we retest 0.0125 again next week, but I do not expect it to be as easy. Felt a little hyped last week from the very beginning; later fade suggests the market agreed.
To review: last week had two good days if you were a seller, and two good days if you were a buyer. So ... if you’re a trader, you had four good days, if you believe in the premise that SNDD is a real company building itself up with all deliberate speed.
It is not me setting the pace. All I can adjust are my own expectations. Still looking for four cents, but we have yet to see two. Holding one penny would be nice, but when accumulating, won’t complain too much about the discounts.
BTW I will be seeing a doctor next week. No needles will be involved, though. Heck, they tried to do the appointment over the phone. I was like, “uh...yeah, no, that ain’t gonna work.” A lot of people just are not going to the doctor or the hospital right now unless they have to. And again, California schools do not need our devices right now; maybe next year. But that is why one can say our best days are ahead of us.
Note while we believe SNDD is a company with a great future in the healthcare/medical equipment area (and I guess whatever other area RedHawk Holdings wants to hold stuff), most testing for Covid 19 has not been with needles, so far. Samples are collected by shoving a swab (uncomfortably) up the nose. No blood; no needles. However any antigen test (testing to see if you already had it) will utilize blood and therefore needles.
Nevertheless I do not see SNDD as a Coronavirus play. We had a spike on news of an order to sell some protective equipment, so we got swept up into the pandemic opportunism discussion for a couple of days, but what makes this is a long term investment, not a flash in the pan, is the company and its management. At least that is what all the RedHawk Long and Strong posts are about.
Stay safe, know what you hold, and... hang on to that golden egg!
Cash back from CC on simple money transfer? Can’t imagine that working, but you could try it once to check. My limit to Uphold is 500 a day, absent a second government-issued picture ID.
I thought I would be done moving money after this month, but at this pace, I may go another 5 months, taking the time to consolidate my loans, and makes them more even in size, especially with XRP. With any luck, we will get some consecutive fortnights where the price is up rather than down.
You talking CredEarn when you quote 5-9%. I should note that the interest offered on XRP is currently 5%. They lowered their rates on practically everything, except LBA (their own token), Lite, and (oddly enough) USD. In the case of the latter, thank goodness, because I continue to move dollars every day to Uphold.
As for XRP, I let one of my Cred loans roll when I meant to send that XRP back to my Uphold holdings (and then loan out some more from that same pool on the 15th). I have way too many contracts with them. I have asked them to let you add to the ones you rollover as well as have the option to convert them to 6-month loans with compounding interest. That would simplify things.
Meanwhile market up, crypto’s up this week, including little old XRP. Picked up some more around 17 cents to round out my holdings, make them easily and evenly divisible by 12 for my six-month loan ladder.
Recent action suggests under 0.012 still a bargain entry point. If you think you might like it under that, you should definitely like it under a penny. And if buyers like it under a penny, they should really like it under 0.009. And if you really like it under 0.009, you should love it under 0.008.
SNDD under 0.007... no, at that point, I’m not going to love that. I will love it again when it gets back to a penny and stays there. All a matter of time. Believers will use the extra time to load up while they can. Accumulate today and get a full five days of trading next week. Hope everybody still has an income so that they can do that.
Hate to say, "Thanks for the cheapies," but... I'll take some more tomorrow if you have them. Short week, btw. Market closed Friday. I also would not mind seeing 0.0125 again tomorrow.
But I won't take less than 0.0126! : - )
The trading range here is a good 20%. Considering how promising the company is, that is probably enough wriggle room for some short-term traders, flippers, whatever you want to call them. Grinders might be an apt term.
The good news for longs* is that the range has moved up. We couldn't get past 0.0095 to save our lives all year, but this week, the immediate resistance point has moved up to 0.0125, over 31.5%; that ain't bad. The next true resistance point, I believe, amateur chartist that I am (extremely amateur), is about 0.014. Getting over that could signal a breakout. Hitting 0.016 would confirm that. (Again, extremely amateur and inexact chart reading on my part.)
By the way, you test these resistance points and ranges by putting in low bids and high asks to see if anyone nibbles. (You know, the whole buy low, sell high concept.) Call it what you want. Action is the gambler's term. (Except we do not think we are gambling when we buy SNDD, because we actually believe in its future.) I could just say, "Wake me when it gets to 4 cents," but I am content to grind it out with my extra trading shares (in an IRA, where I don't have to worry about Wash Sale rules, etc. Having a broker who honors that new zero commission thing even on some pinkies also helps.)
*I consider myself a Long here as I acquired my oldest (and largest) position last year before the ticker change and Dr. Drew. At this point, since that original lot was bought in a taxable account, I am not even considering touching those shares until they go from short-term to long-term. I have waited this long; I can wait another three months.
I should note when simply searching for nomoresharps, the 1st result was for https://www.needledestructiondevice.com/
When I clicked on that, I got a This Connection is Not Private warning, suggesting the website might be impersonating the one I was looking for. If you actually enter the URL for the new website (mentioned here a couple of days ago), you will get to:
https://www.nomoresharps.com/
That provides a reminder that Dr. Drew is on board. Too bad we can’t just do the Dr. Drew announcement again and get another 1000% bump in the price.
Feel free to try to bring this down with silly FUD like the website is down. I am putting in some bids to test my theory tomorrow that this has left 0.008 and 0.009 in the dust.
PS Website is not down
www.redhawkholdingscorp.com
Go SNDD; go RedHawk!
PPS Ben can only post once a day, but I cannot resist: Calvary is a place from the Bible. Cavalry is the guys on horses who ride in to save the day. It might help to remember the Spanish (or French or Italian) for horse, or think of the Virginia Cavaliers
Darn, now I'm upset I did not sell a lot at 0.012 yesterday. I raised my limit and encouraged others to do the same, but no such momentum to new highs commenced. Could have bought back today at a penny and pocketed the 20% difference in cost basis.
That is what makes this a dream for those who trade for the long and short term. You can buy and hold, but also buy on dips and cash out on spikes for 20 - 50% gains, if for no other reason than others are, too. I am guessing that the attention brought by making the top 50 bulletin board only added the number of iHub flippers, no doubt more than the three Ben identified last week.
I thought we were done with a penny or less for good, but maybe it was only 0.008 (and perhaps 0.009) that we will not see again. In any case, if you miss-time a bottom, you can always buy more lower, confident that dollar cost averaging will be rewarded, because you believe in the company and the well-regarded management of same.
BTW, a crisis can give and it can take away. You might feel like a war profiteer getting a Covid boost to your portfolio yesterday, but remember, before all this, we were talking about getting a SANDD unit into every California public school. Need for medical devices in schools right now is zero until kids return... in August? ... maybe.
The tax on tomorrow's dividend will be 15% for many people; not all, of course. At any rate, at any income level, it should be less than it would be for anyone’s short term cap gains, like for swing trades and options premiums. Perhaps that is why I did indeed trade this in an IRA.
Unfortunately for me, I did not have sufficient faith in this rally, so I already “sold cheap” as I like to phrase it, meaning I already sold a covered call on T. My shares might even get “called away” early before collecting the dividend. That will cut my profits... well, by about as much as it would if there were tax collectors coming to take a piece of the action.
That was my point in the earlier post. It is easy to say trade in an IRA, but I would imagine many have both IRA’s and taxable accounts, so the question was what to do with one, and what to put in the other. Buying and holding blue chip dividend champs might be what to do in a taxable account. While, counter-intuitively, short-term trades might be less of a headache in an IRA. (Don’t get me started on Wash Sales, for instance; I thought I avoided them religiously last year, but, darn it!... if it weren’t for that one time, I would not need the extra three months to fill out my tax forms. Ouch!)
I should note some dividend payers are definitely better placed in an IRA. I am thinking REITs and closed end funds... I have one whose dividends are half qualified and half not. Also, partnerships like Blackstone (BX) and gas-movers like EPD; thank goodness I never held those in a taxable account.
Having said all that, you can’t sell losers for a tax loss in an IRA.
0.014 makes sense. I flipped out of some just under that at 0.0138 back in December. Three weeks before that, I sold a small number (partial fill) at 0.015. Glad I reloaded after each pullback. Looks like the days of buying under a penny might be over. (KOW)
I raised my next price (to take some off the table) considerably from where it was last week. (Would have sold some already with today's action if I had not). Hope everyone is raising their take-a-little-profit price likewise.
Last week to make your loss short term for tax purposes from back when this spiked. Does that explain the paint job today? I am going to need more than that... and a little more volume.
I need 6.74 cents to sell more today. Next week my first lot will be a year old and become a long term holding; then I will settle for 6.02
; - )
Oh, no, somebody stole my flipping shares! Oh, well, gotta be happy with 100%, I guess.
This chart has frequent pops and drops, although now, with this volume, the chart looks a little different.
Go CWNR! Dollar cost averaging has been rewarded today, but I want to see nothing but green for every lot. Is that too much to ask?
Enjoy the weekend, folks (safely)
PS about the chart. Looking back a year this looks like it topped at 3 cents, but intraday it was 5 or 6.
We haven't been over a penny all year. The HOD (hit twice today) of .95 cents seems to be the resistance point. We hit it last week, too. I know, because my order to sell some at 0.0096 did not go through. (That would be some that I probably bought at 0.008, looking for a short term 20% return on flipping shares.) I took that order off... well, I let it expire. I have orders to buy below 0.008. Why not? It was below that yesterday. Patience works both ways.
Looking at a consolidated Form 1099 right now (corrected, of course) It seems like ETF/ETN's pay Non-qualified dividends, while common and preferred shares in companies pay qualified dividends. T here would qualify as the latter, of course. T's 52 cent divvy would be taxed at 15% rather than your higher rates of 22, 24, 32 or higher.
Again, if you buy it to cap the divvy and then sell before the next quarter, I am not sure if you get the lower rate. I have no example from last year of doing that. I thought that I would, but I guess I was mostly playing Volatility and DJIA options last year in the taxable account. I did sell a cash covered put on Conagra, but it looks like it ended up expiring worthless, so no shares got assigned to me.
Hmm, if today's gains hold tomorrow, looks like the same thing will happen to me with my cash covered put on T. Glad I sold it for more than 52 cents. That is my absolute minimum premium on those kinds of options: the equivalent of the dividend, so I get paid like a shareholder anyway. (Do it in an IRA, and you do not have to account for how much more you need to cover the difference in tax rates.)
Thought the dividend tax rate was the lower. (Still 15%, right?) Although probably not the first one, but correct me if I am wrong, the 2nd, 3rd, and 4th dividend, if you hold it for more than a quarter, is taxed at the lower long term rate. Certainly after a year it is, just like long term cap gains.
This is why you have a plan going in: is it a trade or an investment?
Me, I employ a hybrid dividend capture system, so yes, I used an IRA account to sell a cash covered put today on T. The premium was worth about one quarterly dividend. If it closes Friday below the strike, I will become a proud owner of shares and collect the actual dividend on Wednesday. Then it will be time to sell a covered call on it. Or I might even do that Monday or Tuesday depending on how the market goes.
This will still be below the price pre-reverse if it triples from here. So if you were a sucker who bought a year ago, you can still lower your average today.
FWIW NSPX
You got me excited there for a second, MS, until I checked the placement of the decimal point. Not sure I want to dollar cost average into that as well. Although.. it certainly would not cost much to double my position!
: - )
Meanwhile, looking for the next dip in XRP. In a couple days, the fudsters would say, I guess.
Reply to a subsequent question. LBA is Cred token. You can get it from Uphold. CredEarn lets you loan your Uphold holdings with a bonus percentage if you also hold 10k LBA, which is dirt cheap right now as MS pointed out. Cost you 70 bucks to get the higher rate on any and all holdings that you loan out. For XRP, that would be 6% versus 3%. They do these six-month loans every two weeks on the 1st and the 15th
What if you're an investor and a trader?
I have held this for 9 months, my best pinkie by far in a year of trading them. I will keep holding those core shares, looking for the next level in this company's growth. But if and when this falls to 0.008 and below, I am a trader/flipper, buying more shares for the express purpose of selling them as soon as they appreciate to some pre-established target, anywhere from 50% (like I did yesterday) to as little as 20% (just missed that today).
My flipping positions are very modestly sized, easy to take out as this breaks through to higher levels. Nevertheless, they keep me entertained. Otherwise, I would just be sitting here watching the paint dry on something that, frankly, I thought would have cleared 4 cents by now.
Sold some that I bought 15 days ago. That was when everything in the world was cheaper, so I immediately put in an order to sell at 50% higher, and figured I would be happy to get it.
Of course, I was hoping it would blow right through the .9 cent mark and continue on, but if that ends up being the high for the day, I will take it and be back tomorrow in search of bargains.
Or it could do the opposite, go up first and then down. Just to mix it up, you know.
Stay safe.
Hmm... what if yesterday's bottom was the bottom? Imagine that.
That would mean I did not need to re-hedge, darn it! : - )
Oh, well, it would better overall if it was.
Now come the lowered earnings expectations, followed by surprises to the upside. Well, maybe for the 2nd quarter, if not the 1st.
Oops, I did it again on Monday. And then took advantage of yesterday's rally to hedge that middle. And then un-hedged today during the drop (and ... re-hedged during the bounce).
That might qualify as over-trading, especially with only one possible down day remaining in the week. Right? Fridays are now reserved for closing shorts, so should be up; might even finish over 200 for the week.
For the record, XRP price locked 14.484 cents for the strike early this morning for people using CredEarn to loan out their Uphold crypto holdings.
Not as much fun to report as when it was 33.187 cents a month ago, but you have to take the downs with the ups.
I guess I should recommence averaging in with these bargain prices. I want to round off my holdings anyway.
There you go. Still under after the bounce.
I finally did something I have been waiting to do for years, middle the Dow. Did that by selling a cash covered put at a strike lower than the one protective put I have left over from when I bought puts a couple weeks ago.
I should have done this years ago when somebody's "fat finger" gave us the flash crash, but I was too slow.
The effect of middling here is taking some profits off the table now from my put position, without actually closing it, with a chance of landing somewhere between the two strikes before both options expire. The put with the higher strike has a later expiration date, so if the lower put expires worthless this Friday, I may yet be able do it again next week.
100 seems high. Did you mean 10? Why not say 10? That would still be impressive. Made money when MGI went from around 2.50 to over 5 last year. Squeezed a little more out of it when it dropped below 2.50 last month. (Luckily there were 2.5 options to be traded.) Now we are looking to trade the 2's. It can run to 5 or 6 again after we get past the current global pullback. But... maybe let's get to 10 before we start saying 100.
"For all intensive purposes"? That's my line!
: - )
Oh, well, hope to file that under Great Minds Think Alike.
As for SNDD, kind of hope this is the last dip to buy.
What a difference a couple of weeks make. CredEarn XRP locked at 23.279 cents early Sunday morning. Down from the 2/15 price of 33.187.
Figured I would go back to noting these strike prices every two weeks. MS (or anyone buying XRP through Uphold) should appreciate it. I still have another three rungs to add to my loan ladder, not counting any dip buying I might do after April 15.
Glad my LTC rolled and my XRP locked early this morning before the across the board drop in cryptos. A little FYI for MS: Uphold strike price for XRP on the Feb 15 CredEarn loan appears to be 33.187 cents. I won’t mind if it is higher on March 1, but in the meantime, I am grateful we locked in that price before the dip.
Checked Uphold, too; price between 32 and 33 cents. I guess if you liked selling some of this at 29 cents, you love it at 33, if you are a trader itching to sell more, that is. Me, I am hoping we hold gains in crypto for another 28 hours, when our Cred Earn loans execute. Would love to lock-in this for my next rung of XRP, not to mention LTC. As luck would have it, my six-month loan of Litecoin rolls over on the 15th with a special bonus 2% interest (for a total of 10%). Cred Earn is celebrating a year of these loan programs. Happy to celebrate along with them if prices hang in there going into the weekend.
PS buy flowers and chocolates with fiat dollars. The value of those are only going down anyway. : - )
Hybrid dividend capture play so far so good with HP today. Goal was to buy on a dip and then turn around and sell a February call at about twice the value of the dividend. Option expires in 4 weeks, but the dividend comes in two. With a yearly yield of around 6.6%, scoring the equivalent of 3 dividends works out to about 5% in one month's time.
Still a lot of risk with this one, as this last week has shown.
PS This is not Hewlett Packard. That would be HPE, which also had a big bounce today.
I was more concerned about cryptos holding gains through Wednesday morning when our latest loans locked in their prices. When those go into effect every two weeks, I of course get a lot of messages from CredEarn, but I must have missed that particular memo, so thanks for the heads up, MS. I will check it out. You are my Uphold/CredEarn guru, you know. Even though the original loan ladder was set after only six months, I have continued to add, making 5 or 6 transfers every two weeks. I do plan on giving it a rest after March 15th. That will conclude a year of steadily moving money.
Good luck to XRP (...and BCH and ETC and the rest...)
Dang, I almost averaged down the other day!
Still need a lot more than +70% (or even 300% from the recent low) to turn this green.
I did see the updated rates from CredEarn, yes, thanks, MS. The last time CredEarn lowered rates on our Uphold holdings, XRP was going up. Maybe this is a good sign, but any celebration might be premature. I think we have to make it through the holiday slump first. (Remember Trading Places? Apparently a lot of traders needed to sell their holdings so they could afford to buy their kids a GI Joe with Kung Fu grip.)
I was thinking I might mix in some gold and Bitcoin Cash once my money transfers go through. In the meantime, I can use the interest I collected on the 15th to pick up some more cheap XRP.
Also, did you see Uphold added some more currencies? CredEarn was already offering 4% interest on some of those and it looks like they just added OmiseGo (OMG). They did not have that set up before the 15th, much to my chagrin.
Mind if I quote the article europa7 posted?
"Pump and dump is a form of microcap fraud in which the price of an asset ... is manipulated by a group of coordinated actors through a series of high-volume purchases.
This artificially inflated demand triggers a dramatic increase in the price of the aforementioned asset, and is often accompanied by an influx of unknowing investors who are unaware of the manipulated nature of the spike. Often this phase is augmented through the proliferation of misleading positive statements or recommendations by experts, further driving casual traders to market.
Ultimately, the perpetrators dump their shares, flooding the market and overwhelming organic demand. At this point the share price of the asset plummets, leaving ordinary investors holding now heavily devalued shares."
Now replace every mention of investors and traders (i.e., "unknowing investors", "casual traders", "ordinary investors") with "greedy, suffering from FOMO types who were hoping to get rich quick chasing the latest hot thing going up fast."
You might feel less sympathy for said traders/investors... but still definitely feel some empathy. Indeed, after choosing my user name, I immediately regretted it, thinking I should have called myself FOMO MOFO instead. In other words, nobody put a gun to my head on this or any other investment. Not cryptos, not pinkies, not dividend paying blue chips, not volatility puts or DJIA calls. With every risk comes ... well, risk. Period. With education and experience, you might take enough good ones to make up for the bad ones.
Enjoy the holiday bargains! (XRP!)
Many coins on sale today, not just XRP. The year is almost over, with this being the second to last weekend before Xmas; that might have something to do with it. I would not know, as I was not in this space a year ago. I think my first crypto buy-in (elsewhere, not XRP) was on December 28.
Not to mention everything else: Fed holding steady, one trade deal on, with more to follow (possibly), Brexit on again... that last you might think would spur alternative currencies (has it not in the past?), but for some reason, the pound’s first move was to rally; maybe because now we have Brexit with decidedly less FUD. A short-lived rally? Perhaps. But I would not be surprised if these bargains* lasted for the rest of the year.
*if you believe in cryptos and in XRP, these are bargain prices, no?
Thought all cryptos were already emulating each other. By going down, that is.
Hashtag accumulation zone : - )