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Stocks like GNUS don't care what the market does or what the covid numbers are lol. 90% of the us population could be covid positive and it won't effect gnus. It runs on hype, volume and short squeezes.

 

Unfortunately because there's so many bag holders that will have stop sells in place to break even from last month, the short squeeze might not reach its full potential next week.

 

Today was definitely a great stock though

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40 minutes ago, NucksPatsFan said:

Stocks like GNUS don't care what the market does or what the covid numbers are lol. 90% of the us population could be covid positive and it won't effect gnus. It runs on hype, volume and short squeezes.

 

Unfortunately because there's so many bag holders that will have stop sells in place to break even from last month, the short squeeze might not reach its full potential next week.

 

Today was definitely a great stock though

Yea it was a pretty straightforward trade today:

 

image.png.43329c479eb86f40103b92745f088bf4.png

 

image.png.8722705adc78de3099092364feab9545.png

 

Been sitting back and watching it for a while. Once the fibs tightened up I was just waiting for the EMA50 cross (dark green line). That happened this morning and then I got rid of 75% at the first fib. (~2.65 -> 3.30, 25% gain). Left in the remaining 25% for next week. 

 

 

 

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Chinese markets making massive gains over the last week. The Shanghai Composite tacked on nearly 12% in just 4 sessions. And the last 3 sessions saw record daily volume exceeding 1 Trillion Yuan each day. Rammed above the Covid highs and the Mar 2019 highs too.

 

Forexlive Image View

 

Forexlive Image View

 

CSI Index climbs to a 5 year high.

 

Bottom line - Massive surge in risk assets.

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3 hours ago, nuckin_futz said:

Chinese markets making massive gains over the last week. The Shanghai Composite tacked on nearly 12% in just 4 sessions. And the last 3 sessions saw record daily volume exceeding 1 Trillion Yuan each day. Rammed above the Covid highs and the Mar 2019 highs too.

 

Forexlive Image View

 

Forexlive Image View

 

CSI Index climbs to a 5 year high.

 

Bottom line - Massive surge in risk assets.

Meaning?

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23 minutes ago, NucksPatsFan said:

Glad I got into Ayro in the 2’s - the ugly duckling of the EV stocks in it didn’t run when they all did over past 2 weeks but boy she’s running today!

 

also gonna grab a couple lotto tickets in byfc and carv ahead of blackout day 

Ahh man, I sold Ayro last week for a measly little profit and figured I could get back in. 
 

Would have been a nice double up today!

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2 hours ago, HI5 said:

Ahh man, I sold Ayro last week for a measly little profit and figured I could get back in. 
 

Would have been a nice double up today!

Ayro and blnk have been nuts today. Holding onto my July 17 $5 blnk call for another few more days

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Watching HOFV fall after selling it feels like checking in on your abusive ex only to see their profile filled with "all men are the same" posts. Glad I took the 1.42 multiplier and ran.

 

So tempted to pull the trigger on BLU aftet a failed FDA approval. Been consistent in the $8 range for a couple of years to be oversold to $2.60 today

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8 hours ago, Warhippy said:

Meaning?

It's indicative of a 'risk on' appetite in markets. The following quotes are a very good indicator of what's going on there ........... "China International Capital Corp. is forecasting the stock market to double in the next 5-10 years while the Securities Times' said a "healthy" bull market is now more important to the economy than ever."

 

Given the government control over there, statements like these are not the usual 'jaw boning'. It's more likely the government has decided they want their capital markets higher. Coming out of the pandemic we're likely to see China in a very strong financial position relative to the rest of the world. It's happening now.

 

I suspect for the rest of the summer we're likely to see a 'melt up' in global equities. For a good example of the market's mood look at Facebook. It was approx $235/share right before the advertising boycotts. Dumped down to $207ish for a hot minute and now is $239. There is an army of buyers lined up waiting to forgive any company of their sins. AMZN can do no wrong, TSLA is ballin out of control. They are even buying European banks. Who the Hell wants to own garbage like Deutschebank, Commerzbank or Santander? And yet they do. In this environment selling is foolish and short selling is downright dumb.

Edited by nuckin_futz
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43 minutes ago, nuckin_futz said:

It's indicative of a 'risk on' appetite in markets. The following quotes are a very good indicator of what's going on there ........... "China International Capital Corp. is forecasting the stock market to double in the next 5-10 years while the Securities Times' said a "healthy" bull market is now more important to the economy than ever."

 

Given the government control over there, statements like these are not the usual 'jaw boning'. It's more likely the government has decided they want their capital markets higher. Coming out of the pandemic we're likely to see China in a very strong financial position relative to the rest of the world. It's happening now.

 

I suspect for the rest of the summer we're likely to see a 'melt up' in global equities. For a good example of the market's mood look at Facebook. It was approx $235/share right before the advertising boycotts. Dumped down to $207ish for a hot minute and now is $239. There is an army of buyers lined up waiting to forgive any company of their sins. AMZN can do no wrong, TSLA is ballin out of control. They are even buying European banks. Who the Hell wants to own garbage like Deutschebank, Commerzbank or Santander? And yet they do. In this environment selling is foolish and short selling is downright dumb.

Cheers man thanks for the heads up

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16 hours ago, Warhippy said:

Cheers man thanks for the heads up

 

17 hours ago, nuckin_futz said:

It's indicative of a 'risk on' appetite in markets. The following quotes are a very good indicator of what's going on there ........... "China International Capital Corp. is forecasting the stock market to double in the next 5-10 years while the Securities Times' said a "healthy" bull market is now more important to the economy than ever."

 

Given the government control over there, statements like these are not the usual 'jaw boning'. It's more likely the government has decided they want their capital markets higher. Coming out of the pandemic we're likely to see China in a very strong financial position relative to the rest of the world. It's happening now.

 

I suspect for the rest of the summer we're likely to see a 'melt up' in global equities. For a good example of the market's mood look at Facebook. It was approx $235/share right before the advertising boycotts. Dumped down to $207ish for a hot minute and now is $239. There is an army of buyers lined up waiting to forgive any company of their sins. AMZN can do no wrong, TSLA is ballin out of control. They are even buying European banks. Who the Hell wants to own garbage like Deutschebank, Commerzbank or Santander? And yet they do. In this environment selling is foolish and short selling is downright dumb.

I don't have a lot of confidence in any CCP announcements even tho it is likely in the interests of China to come out of C-19 with solid growth. Chinese dictatorship can over ride economic realities but their debt situation is a problem like every other world government. IMHO this debt is causing a re-evaluation of equity valuations. If recovery is threatened I suspect the USA could dive into negative interest rates. I doubt Trump will be any different than the DNC in embracing whatever can kick the can down the road. 

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7 hours ago, filthycanuck said:

speaking of which, took a small position on Kandi technologies today. A bit of a flyer with most of the EV stocks growing

Thank goodness for after hours and pre market. Only made about 12% off black out day. EV sector pulling back strong today hope you were able to get in a good entry!

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Kicking myself.. I have been watching Nano One Materials (based in Burnaby of all places) for a while now and it is up like 50% over the last week. NNO specializes in developing lithium batreries in EVs.

 

NKLA and SHLL seeing big pull backs recently as well. Happy I sold those bad boys at a premium.

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