The Rokslide Stock Traders Thread

[aftriathlete]

I almost bought the NASDAQ bear ETF at the end of the day yesterday, but the world was expecting a rally today off of a lower CPI print than last month. That said, congrats to any contrarians who were positioned to take advantage of a higher CPI coming this month despite lower gas prices from our Strategic Petroleum Reserve being pissed away for midterm elections.

 

[aftriathlete]

In other news, oil prices jumping on this news.

Biden Officials Weigh Buying Oil at Around $80 to Refill Reserves

www.bloomberg.com

 

[Broomd]

In other news, oil prices jumping on this news.

Biden Officials Weigh Buying Oil at Around $80 to Refill Reserves

www.bloomberg.com

Ouch!

 

[SWFLhntr]

What a sh*tshow.

 

[nnkboykin]

You guys doing ok in here after yesterday?

 

[Sherman]

Put 15k on SEEL at .62 cents in May. Rolling high 1.40’s today. Getting my 15k back today and letting the rest ride for a while. How much longer should I wait? I’ve seen valuations everywhere from $3-$5.

 

[eddielasvegas]

Put 15k on SEEL at .62 cents in May. Rolling high 1.40’s today. Getting my 15k back today and letting the rest ride for a while. How much longer should I wait? I’ve seen valuations everywhere from $3-$5.

Always a tough call as you'd hate to miss a 10 or 20 bagger, but you'll never go broke taking a profit.

With financials like this, I'd be inclined to sell it all and live with the ST capital gains since you held it < a year.

Good luck,

Eddie

 

[DenverCountryBoy]

The current market is tracking 2008 trajectory eeriely close.

 

[Sherman]

Always a tough call as you'd hate to miss a 10 or 20 bagger, but you'll never go broke taking a profit.

With financials like this, I'd be inclined to sell it all and live with the ST capital gains since you held it < a year.

Good luck,

Eddie

View attachment 452077

Thanks. I got out at $1.42 the day you posted this. Capital gains are a beeotch.

 

[aftriathlete]

The most accurate economist in the business, Michael Hartnett, said on Friday something along the lines of S&P 500 should get down to 3000 by end of October. I'm paraphrasing, but if history, including 2008, is your guide, 3000 by end of October. And that's only if this one isn't worse than the historical average. We are at about 3900 now.

 

[Bobbyboe]

The current market is tracking 2008 trajectory eeriely close.

I’m not good with charts or history. Do you know how oil and gas fared compared to the S and P dip of 08?

 

[ETtikka]

All eyes on fed, as usual, since 2008, the entire market had been propped up by fed and buy backs.

I have never done well with oil, since it is based more on manipulation than fundamentals

 

[DenverCountryBoy]

I’m not good with charts or history. Do you know how oil and gas fared compared to the S and P dip of 08?

I stole that chart from an article.

There was demand destruction in 2008 crash and energy dipped along with everything else.

This time inflation is creating demand destruction, however, the policies and sanctions in Europe have created greater supply destruction.

In the US, the current administration's policies have also weakened supply. The strategic reserve has been drawn down to help with greater demand than supply, but that will run out shortly after the midterm election.

 

[DenverCountryBoy]

This article just dropped.

Zerohedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

www.zerohedge.com

 

[eddielasvegas]

PR (f/k/a CDEV) is down to $6.36.

That's well off its recent high of ~$8.50 and getting closer to my buy price of ~$5.50.


Eddie

 

[aftriathlete]

Well I'm no expert, but to a guy that just likes to pay attention to this stuff today seems a little bit like something has finally broken. Foreign currency crises playing out across Europe and Asia as the USD spikes to 20-year highs, UST bond yields spiked massively today, S&P 500 just closed below the June low for the first time on panic selling in the closing minutes. That relatively small play on CDEV/PR for me isn't paying off so far, but I'll take that loss if it means the crash that's been getting kicked down the road for the last couple years is finally here. I know what that means for those closer to retirement or already living off their investments though, and I know a lot of people stand to lose their jobs (some say the BLS is going to magically find 10M unreported unemployment applications the day after midterm elections...). But my personal opinion is this whole bubble needs to pop to stop this madness and we can all just get back to investing and not bitcoin billions and meme stonks.

 

[WoodDuck]

Happy to say that RECAF is helping put meat on the table despite the SP.

Thought I’d bring a little joy to the thread with the overall bleak market outlook. Hope everyone is having a good start to their fall!

In all seriousness, might see some interesting news from RECAF in the next week or two. They are setting up the drilling rig on the 2nd target for this drilling campaign (according to satellite images). Time will tell.

 

[JakeSCH]

SLV is having a big day. Picked up 1500 shares last week at about $17.

open interest is 388k calls at $35 and 314k calls at $40 for January...looking to be bullish for the next few months

 

[eddielasvegas]

PR (f/k/a CDEV) was up 10%. That's a pretty good day in my book.


Eddie

 

[jbosk15808]

SLV is having a big day. Picked up 1500 shares last week at about $17.

open interest is 388k calls at $35 and 314k calls at $40 for January...looking to be bullish for the next few months

Nice trade. I wasn't expecting this large of a movement this quick and it blew through my covered call expiring this week. Now I'm debating rolling .. .or taking the cash and buying another rifle lol