Stock Market Chat

At this point there's likely to be a retrace because of its parabolic rise, but I'm waiting for at least £1 ($1.37) before I sell any more (I sold my first batch at circa 23p). I'm going long, though, and I'm not trading it or looking for a quick gain so I'm happy to wait.

In my mind, it was a dead cert to rise this month because of their launch of Goguen, which is the next part of their roadmap. This allows developers to start making dapps on their network. To put this into perspective, Ethereum is worth £132b and Cardano is now worth £14b (they had a market cap of £7b last month). By comparison, Ethereum is slower and vastly more expensive to use. It's also not as scalable as Cardano is. Charles has put a serious amount of work into building this and it has taken years to get to this point. He was also a co-founder of Ethereum, so people pay attention to his work. One of my friend's has an average of 2p, but he has held them a lot longer than I have. I only have 15,000 of them at an average of 8p. He has 205,000 . He is sitting on circa £102k and hasn't sold any. The trading volume has been over £8b the last few days. ​

The vision of Cardano is massive, and they are in a sector that's set to explode.

It also appears that the Grayscale Trust have added it.

 

Yeah, the system is rigged because those Wall Street funds control the SEC, NYSE and the other boards. They can influence the regulation of the stock markets.

The markets are also rigged due to high frequency trading algorithms. How can we compete against that?

 

Watch all of this, Sean. This will give you an idea of how Charles sees Cardano:

Price and Roles

 

Maybe we could make a thread in the Benefactors' Corner so that not everyone can see it? Unless they become a Benefactor themselves.

I don't know if you would feel better about it that way.

At least if other "outsiders" want to see your advice they will have to support Tinnitus Talk first.

I know you can't guarantee anything, and that we can lose our money following your advice, but you clearly know a lot more than most of us.

I don't know, just a thought.

 

@ThomasRobert Welcome to having interest in the stock market.

For the record, I did not not make a recommendation to buy ZOM. Noted that profit taking may set in soon - but need to use many judgements before making investments decisions.

I had asked @FGG, as she practiced veterinary medicine, what her thoughts were on Zomedica.

I had highlighted ZM-006 and she took note of that. I did not, as mentioned, do much company research.

I had discussed stock hype taking place in the last months in this thread a month or so ago. This makes it more concerning as to where the highs may be.

Your source site above may be correct and I had read this article before, but site authors are often off the mark and also untrustworthy. One needs to be able to do their own research.

 

I sold and took all my original money out a few weeks back, as you know. When buying into the latter stages of a bull run, I always work on the assumption that a crash could happen any day, and I account for it. The ones I remain invested in have strong fundamentals, meaning the short to midterm movements are largely irrelevant to me. I have cash ready to buy into significant dips should we see any.

That's my strategy at least, and always has been. I hold the stocks/assets I see growth potential in, and I swing trade the rest.

 

Just to mention for @Ed209 to make sure you are using the right symbols with Grayscale.
CARDONO is ADA-USD. ADA is Advanced Emissions Solutions.

BITCOIN is GBTC. 6.95 fee adjusted to price (+ -) in and out. Does not trade pre or after market as with some other Grayscale Trusts.

Trading on a penny might mean a wash sale if traded again within 30 days.

 

Greg, the ticker symbols are correct. What I posted was a recent filing that the Delaware Trust Company (Grayscale) made, which suggests they are looking to start a Cardano Trust for those who want to buy stock instead of holding the actual crypto in a wallet. There is also the Grayscale Digital Large Cap Fund, which is many digital assets grouped together.

ADA is the ticker symbol for Cardano on crypto exchanges. ADA/USD is just a pairing of Cardano to the US dollar. There are many pairings, such as ADA/ETH, ADA/BTC, ADA/EUR, etc, etc. These pairings are the same as what you'd find on the Forex Exchange with fiat currencies. Advanced Emission Solutions are known as ADES.

I personally wouldn't buy into crypto via Grayscale because of their margins. They charge around 20 - 30% extra than what the market value is, but the wealthy people who often use them don't mind paying this as they put their faith in Grayscale to hold their assets securely.

 

@Ed209 For Yahoo to view the pairing which does have lots of data - it's ADA-USD. On Nasdaq it's ADA.

I only view Cardona and as paring so I view on just Yahoo. It's on a list with stocks. I understand what you are saying.

Grayscale Bitcoin Trust (Btc)
OTCM: GBTC - trading symbol.

GRAYSCALE BITCOIN TRUST

Two Trades of about 20. Held first for a few days - profit 335.97. Second trade held one day and made 799.95. Not a big deal, but OK minus minus for 200 share quick trades.

Sell.FIFO 200 12/07/20 4,736.95 12/16/20 5,072.92 335.97 7.09 Short
Sell.FIFO 200 12/16/20 5,186.95 12/17/20 5,986.90 799.95 15.42 Short

Correct - my bad.

 

That's to view information for ADA against the US dollar, and to be fair that's the one I track. Many primarily follow the ADA/BTC pairing because they want to know how many sats it is worth.

This is a trust for buying Bitcoin. Grayscale have a few, for example, their Ethereum ticker symbol is ETHE, and for the Digital Large Cap Fund it is GDLC. There are a few other Grayscale trusts, but there isn't an active Cardano one, but my previous post eludes to the fact that they may be about to start one.

Nicely done.

No problem, buddy.

 

Thanks for passing this along! It's interesting that Apple is marked as "Really stay away". It's been my most profitable stock, though it's hard to see how they can get any bigger. A good way to get in on Apple action without owning Apple is Jamf ($JAMF - side note: I'm long with them, picked up some shares in early January). They do enterprise management for Apple products. Because they're not consumer facing they haven't garnered an insane valuation, but they've been growing rapidly due to the shift in people working from home (and wanting to use Apple stuff). It's an interesting stock/company. I haven't seen it on too many people's radar, but I could totally see them breaking out at some point.

Interesting that it marks Splunk as a buy. I had previously looked at them before their big drop a few months ago. I do contracting work and their product was something that a previous customer wanted, but they didn't want to pay for it (apparently Splunk's software is crazy expensive). So the customer decided to roll their own solution with the ELK stack (Elasticsearch + some other stuff). My job was to write a web UI for the ELK solution that had been created. Users told me they really liked Splunk though. I never got a chance to use it, but I was always curious about it.

 

Tesla just invested $1.5b in Bitcoin.

This is undoubtedly because of Michael Saylor. He and Elon had a discussion about this on Twitter recently, and Michael also hosted a Bitcoin summit to show companies in the S&P 500 how to put money from their treasuries into Bitcoin to beat inflation.

Look at the size of the candlestick and volume after the news came out

 

Saw this too. Pretty cool.

Hey @Ed209, do you feel your funds are pretty secure at Binance? I've been comparing Binance to Kraken. I liked the interface on Binance better but I read about their 40 million dollar hack theft in 2019. What are your thoughts on their security? Do you use a YubiKey, cold storage or just their hot wallet?

 

Yea, Binance have good security, and nobody lost money on that hack, they covered the losses.

Rule number 1 in this game, however, is not your keys, not your coins. Keep what you wanna trade in a hot wallet on the exchange, but put large sums of money that are sitting doing nothing on a Ledger or Trezor hard wallet.

To be honest, if you're not dealing in large sums, a hard wallet can be overkill. A good DeFi wallet where you have access to the keys is a good solution.

A lot of cryptos have their own wallets. VeChain, for example, has the VeChainThor wallet, and there's Yoroi for Cardano. There's plenty of wallets out there that offer various perks, such as staking for interest. There are also staking pools that can earn you passive income on money you're holding.

I've made over $1000 in interest and via my Crypto Visa card cashback in less than a year. And this is nothing compared to what some have made. A friend of mine was making £350 a month in interest on a single coin, but then he is putting big money in.

Everyone navigates this world in their own way.

The best advice I can give you is not to get carried away. Don't FOMO into everything, and be patient, don't over extend yourself and only invest what you can afford to lose. The gains can be so crazy in crypto that it can go to your head. Learn the cycles. There is a Bitcoin season and an altcoin season. Between these phases will be bear seasons, so don't get caught out! You have to understand how to time your trades. Buy when everything is a sea of red and sell when everyone is feeling euphoric.

Good luck.

 

I was once a member of a private Yahoo message board. I'm thinking about that.

Up 50% today overall, but then sold all - some that I mentioned here - all research plays that became hyped.
One of those gained another 200% today - had rebought on dip and sold again today. It has done a 60X since I first mentioned.

One stock that I had mentioned - didn't talk about a purchase - is down a few cents - so lots of discussion is always needed.

Lots of timing and timely discussion is needed - sometimes my views change on added research and/or hype factors.

 

Thanks for the info @Ed209. What crypto sites do you like for news and analysis? And where could I learn more about the bitcoin seasons/cycles?

 

A very good place for news and measuring social interest in a coin, at any given moment, is Lunarcrush.com. I use coingecko.com for some stuff, but I generally do my own research.

I recommend Guy from Coin Bureau, as well. He is very knowledgeable and has a YouTube channel.

As for Bitcoin, it goes through predicable cycles that usually end with a violent drop of around 50% or more. However, historically speaking, the previous highs eventually become a support for a new tier up. How long this will go on for is anyone's guess, but if you look at the maths, it's highly likely that it will easily surpass $100k. This is based on just a small selection of S&P 500 companies putting 1% of their balance sheet into it. It is rumoured that Apple may be next to enter the crypto space, either by creating it's own exchange, or by buying a chunk of Bitcoin. We'll have to wait and see on that one. Don't forget that PayPal are already onboard and so are Visa.

There is an indicator you can follow called Bitcoin dominance. When this drops, altcoins surge, but when the Bitcoin dominance is high, money generally gets pulled out of the Alts and goes back into Bitcoin. There is also a thing called a Bitcoin halving. This is explained here:

• Bitcoin halved on May 11, 2020, around 3 pm est.
• A Bitcoin halving event is when the reward for mining Bitcoin transactions is cut in half.
• This event also cuts in half Bitcoin's inflation rate and the rate at which new Bitcoins enter circulation.
• Both previous halvings have correlated with intense boom and bust cycles that have ended with higher prices than prior to the event.

It is very easy to get wrecked in this market, so I advise anyone who is reading this to trade it only if you know what you are doing. The majority of coins that are out there will ultimately go to zero. That's just a fact. It is also normal to see significant corrections in crypto. Inexperienced investors and traders will get destroyed under these conditions. I, and the guys I trade with, regularly see paper profits in the multiple thousands being wiped from our screens. It's all part of the process, but inexperienced people can easily capitulate and make mistakes under these conditions, which is why I'm warning anyone who is not familiar with this stuff to not get involved. You will get eaten alive.

 

If you buy stocks, assets, or cryptos that are fundamentally good, a bad decision will usually only cost you time, rather than money. You can argue that time is money, but with the way the markets move in cycles, at the moment the next bull run comes along, you will nearly always be more than compensated for waiting (if it's a good investment). Hence the saying:

"The stock market is a device to transfer money from the impatient to the patient." (Warren Buffett)

 

Wowww... Bumble is rallying more than 60% today.

What do you guys think of tech stocks? Is there a bubble? Is it normal that Uber is breaking highs and at the same time losing over $1B per year?

 

It wasn't anything retail investors could get into. It IPO'd and started 60%+ and then declined throughout the day.

 

Yeah, I know what you mean, although I did not know that specifically about Bumble. So is it not possible to go to the bank or to your broker in the US and request titles of Bumble for the IPO? Retail investors have to buy those shares after they start floating? Is this how IPOs work normally in the US?

 

I looked into getting in on an IPO early but I didn't meet the requirement of having an account balance of 1 million dollars or more.

 

I think it depends on the stock. Certainly some of these companies are way overvalued and in time they'll come back to earth (example: Blue Apron - $APRN). However, some of these companies will dominate in the future.

I've never used Uber, so I can't really give a good analysis of it, though a $112B market cap seems kind of high. It's impossible to tell where these things will go though.

Last year everyone I talked to thought Tesla was overvalued, yet it ended up skyrocketing. I finally talked to a Tesla owner and he loves his car and described how much better it is than other cars he's driven. I'm now seriously considering making my next car a Tesla. Now, I wouldn't buy the stock at its current price, but I at least have a better idea of why the company is hyped so much. Uber may be the same way, people who use it may love it a lot better than what existed before.

 

To me it is shocking that Saudi Arabia sovereign fund exited the Tesla stock when it was at one fourth of its current price. Why exiting a stock that later on multiplied its value by x4?

About Tesla cars, I have not tried them, but in Spain we lack the infrastructure needed to recharge these electrical vehicles. There are few recharge points, and also the range of km the car can make without recharging is kind of low, so it is an inconvenience not being able to drive a Tesla for like 800 km, for a long drive. A long route also goes through places where there is almost nothing, not even ordinary gas stations, let alone an electrical vehicle recharging point.

 

Now that would be an interesting investment opportunity. A company building a standardized, European charging network for electric cars ;-)

Any companies active in that segment? In Europe or US? Or elsewhere? Is it taking off?

 

I think there was just too much noise regarding Tesla being overvalued. They got cold feet and wanted to get out while they were ahead. I watch a hand full of YouTube photography channels and even they were talking about shorting Tesla (this was back in March 2020), it was weird.

A Model 3 has a range of 568km, which is fairly long. Probably not a good road trip car (especially since recharging can take several hours), but it certainly would handle every day tasks pretty well.

 

What's the current price for a Model 3 in the US?

 

$37k for one with a range of 263mi (423km), and $47k for one with a range of 353mi (568km). However, my coworker (who has a model 3) told me that it can be cheaper than owning a less expensive gas car because of the maintenance difference - no oil changes, no routine check-ups, charging is significantly cheaper than gas, etc etc. So you have to look at the lifetime price of owning a car rather than just the up-front price.

 

I recently came across some news about Fastned, a company specialised in installing charging stations throughout Europe (the Netherlands, Belgium, UK, Germany and Switzerland). They are planning to expand their business and so far their operation is running smoothly.

Another upcoming enterprise is EVBox (more than 150.000 charging ports across 70 countries, e.g. the US, Canada and the EU), which will go public in March 2021.

 

Tesla quality control is a nightmare and they’ve lost their federal tax credit. I like electric cars but please do not reward these scammers for treating their customers like beta testers. Buy from real manufacturers, flawed though they may be, because they make cars where you don't have to worry about the roof falling off.