Crypto thread

30 minutes ago someone bought 6000 4/17 TSLA calls at $4.20 

I don’t think that’s a good sign for me 

Think about this. Many hedge funds in the USA, including David Tepper's, are up 8% year to date while the markets are down roughly 15-18%. It is clear that hedge funds have been operating on inside information as it is highly unlikely that any managed fund would outperform the markets by 23-26 percentage points over a 3 month period. 

Senators are apparently guilty of tipping off hedge fund managers. Will any of these congressmen or women or hedge funds be charged with a crime? It almost certainly is a crime since insider trading was banned in 2012.

The bottom line? 

They have information that you don't. That makes the game harder for a day trader to win. The deck is stacked against us.

Oh yeah def insider trader going on 

Tri state extends lockdown for 2 weeks to May 15? 

When do you guys think casinos like Wynn’s new one here in Boston will be open? 

August? 

NDX back to normal like nothing happened 

Why is everything pumping after hours? 

Gilead just announced a promising treatment drug that shows some effectiveness w/ Chinese Virus patients...  In particular, a Chicago hospital treating patients with Remdesivir in a trial were recovering rapidly from severe symptoms.

Yeah. My Canadian brother-in-law sent me earlier.  Haven’t read it yet. 

https://www.cnbc.com/2020/04/16/gilead-stock-surges-after-report-says-coronavirus-drug-trial-shows-encouraging-early-results.html?__source=iosappshare%7Ccom.apple.UIKit.activity.CopyToPasteboard

Well. That didn’t come out well. Anyway link is on CNBC he sent.  Guess a lot of other places by now. 

It was crap news but the market is discounting everything negative and pumping anything positive...business as usual.

The company had to come out and clarify because if they dont their shareholders will sue the crap out of them for fraud.

Oh?  I still haven’t got around to reading yet.  They really not as far along as they say?

Two of 113 patients still died...so almost 2%. I thought the death rate was around that no? Details of the age groups and underlying conditions were not made available to the public so unless this group was dying at the Italy rate that I don't see how this is worth a 900 point rally in the markets. 

The markets have entered the Twilight Zone.

These are people that were admitted to the hospital with "Severe symptoms " , and then they "recovered rapidly ."  So, this is a subset of all cases.

The results are a big deal .  If this all pans out and wider sample sizes show the same encouraging results in patients, then that will only help the mortality rate 

Alright got waxed on some puts. Got out with less damage than I expected. TSLA -$1500, MGM -$500. 

What are we looking at shorting today? 

Try to hit a home run on a Home Depot put again? 

Oil at $17.50 — thinking about buying a midterm call on an oil stock. 

Thoughts? 

HD $195 4/24 put 

5 contracts avg $1.75 

Cant day trade so I’m stuck in this thing through the weekend. Wish me luck. 

Hilton $60 put 5/15 

5 contracts Avg $1.35 

Anyone that needed their 401k or stock money has a 2nd chance at getting out. If it dumps on their heads from this point on I will not feel sorry for them. 

Come on Betsy! Give me a nice dump heading into the weekend! 

Good luck on your PUT play on Hilton Detox. 

I had a question about the expiration dates, why are all the min expiration dates when trading options on 5/15 now? Usually they give you an option a week out no? 

Im not sure exactly how that works. I’m sure one of the other guys here knows the answer. I would guess it switches every Friday to 2 weeks out?  

If you read what the company said it gives the real details. The market wants to ramp so it ignores the bad news and over hypes the good news. Gilead said the numbers were narrow and not sufficient to draw any conclusions and since when is a small sample Phase 1 equal to an across the board cure?

Its crap...but the market is discounting any and all bad news and ramping on the whiff of anything positive even when in this case its garbage.

Yeah. I think you are right.  I thought the market was due a correction for sure and the virus scare just set it in motion.  But if the virus was the main/only reason the market fell — Then any hint of news of a cure/treatment coupled with the news that it might be abating or overblown will set the market to attempting to go back up.  At least it seems like it.  Because it certainly does not want to keep going down. 

The NAZ is not far from the highs and some stocks are at and over all time highs. The NAZ has been shrugging off everything, like it does not matter nor the impact of the economic loss will matter. 

As I say day in and day out the only thing that matters to this market is etched in stone, a low rate environment and the FED who has pretty much opened the door to whatever the market wants to do. Its sickening how polluted and ugly the market is and if you read around a bit my opinion is very common. The market is a communist style environment now...there is no price discovery or concern for earnings and growth its all about leverage, cheap cash and liquidity. The only real fear the market seemed to have was when liquidity was in question and the spigots were not working.

Oil hit 17 today, demand for MOST goods and services has ground to a halt yet tech share prices are ramping up as if the economy has no impact and things are as good or better than they ever were. How that FED clown hasnt put the squeeze on this bubble is very worrisome, the lack of reality and concern for bubbles and excesses is a very very bad thing.

SHOP has gone up 50% in less than two weeks on hype and speculation as have most all other techs, the market hasnt changed at all...leverage and speculation are rampant and never left.

Yes.  Will be interesting to see how it plays out with other countries as well as the results of this start to come into play.  Some time ago S&P 500 had half of their revenue coming from international sales.  

But chaos has not been driving the market for a long time now.

This to me is sort of classified as a natural disaster in a way.  Some time back they did a study over like last 30-40 years and these have very little impact on economic situations in developed countries.  The example they used was the Kobe earthquake.  Less than two years later — that area’s economy was right back where it was.  

By now the Trump Bump and tax cuts and economic recovery should all be factored in.  You would think to see something by now to indicate a slowing down, at least.  But like an article said there are no obvious signs like in ‘87 or ‘07 of bubbles and things of that sort.  

I say while all is looking good and doing well: keep adding to it.  

One of the things I like that show this somewhat is the NAAIM index.  You can see a correlation with S&P.  It more or less an indication of their emotion driving, or at least assisting, the market upward.  

One of the articles from some time back was talking about this.  The guy was saying that it is far more emotional than traditional now.  I think he is correct.  

But his point was that now all the investors need to realize that all their hard-earned savings is now in the hands of a completely different group of players than in years past.  

His concern was folks getting blindsided the next time “stocks of good companies” and “great long-term investments” get thrown out with the bath water.  

It is something people need to be aware of.   

Momentum is a self-fulfilling prophesy.  That was how he worded his concern.