reality is, money and its value are all just made up out of thin air, the value of gold, diamonds, timber etc...all priced according to belief in value.
if no gold existed, we would value something else. all that glitters has our fancy and we value it.
paper dollars, have no value and are not based or back on anything more than faith.
the in god we trust, means just that. we trust some one else, we trust ourselves and we trust this thing will keep flying. and it will. it will no matter how many dollars are printed or how much gold exists or doesn't exist.
its all made up, out of thin air.
we talk about inflation and the fed says we have no inflation that's total BS.
Rents are sky high housing is sky high. food is sky high. clothing is sky high. there are so many good that we use everyday and we need that have just exploded is price. but the fed says we have no inflation and prices are not moving higher ?
That's total BS.
Bottom line is with all theory, its still theory. remember the thing with money is, it can take on any form. today its paper dollars, we can assign value to anything and take away that value for any reason based on our own personal agenda.
the fed, the banks, the people at the very core of money creation, have their agenda. and that is to keep us "believing" that paper money, is god and without it, we will perish.
here I go and bail on SINA to buy back into GPRO and SINA broke out and looks like clear skys ahead and GPRO has an entire mountain of shorts and resistance piled on top of it. But, I think its at the very bottom so I caught the bottom on its twice this week. got in near 29 even.
NO DOUBTS WHAT SO EVER. that $28.90 is the bottom !
look at the first two hours of trading on last Tuesday, see that reversal and then the huge volume spike to drive it back up !
Now look at Friday, the last 3 hours, see that reversal back up off $28.90 for the second time with huge volume going into the close.
This, is what trend reversals are made of in the early stages. Volume and higher lows will confirm, but step 1, finding a bottom is complete !
go onto market pulse stock twits, theres a guy who has the goods on it.
Those shares the CEO bought were newly annointed shares. for the purpose of preventing a take over.
Dude, how the hell are you ?
My god man, its been what, 10 years since we posted with each other and traded SINA.
Well, ive been here and there. Havent seen many familiar faces. But dude. This is amazing !
I sold my Calls in SINA Friday morning. Honestly I had too many and the dips below $40 were killing me. So I sold on the pop Friday and got some really good change for my 200 contracts. Sure I could have made more holding until the close. But I was just glad to get back up and get green, really green. Sold when it hit $41.50.
Went right into GPRO with 200 Call contracts for Nov 20th. paid $2.35 each and closed at $2.80 so Im doing good there, held over the weekend. I see the bottom in GPRO and its trying to fight its way back up.
Honestly. Im sort of kicking myself for selling SINA Friday, it might rally hard, without me this time.
Anyways. How are you ?
I trade options now. hardly ever trade stock unless its really moving fast the way things used to move back in the day. remember those days ? Man a rally would go on forever. Now theres so much drama on CNBC and way more manipulation and flat out BS.
Glad to hear from you !
I'd say the short trade has come and gone.
The great thing about a Friday reversal AT the very bottom. Is that everybody has plenty of time to study charts over the weekend and decide what to do Monday morning.
That reversal really was a thing of beauty.
Am I Trans who ?
No I am the great and fearless PepperoniandMushrooms.
Had 200 SINA calls. Made good money but don't trust SINA pull backs. Got lucky picked up 100 Nov 20th. $32 calls for 2.35 closed at 2.80.
Not bad for a days work.
Made $30,000 on my SINA calls in first two hours Friday. Should have held them but never could trade SINA with ease. It's like an awkward dance partner.
Feel really good about GPRO position.
I posted last week bottom was $28.90 everybody is saying this js going down to IPO price of $24.
But what many refuse to admit. The stock never traded on any public exchange at $24. Yes that was the IPO price. But the tutus and banks bid it up before it ever traded and it opened at 28.65 and never even touched $24.
So let shorts believe $24 is coming. But it aint. We hit $28.90 twice and that's it. That is the bottom. It's tested and it passed and held solid.
Earnings are 3 weeks away. Shorts know they need to vacate their positions. So upside is assured. The short trade was a good one and now it's time to cover.
This could easily be $40 by the end of Oct.
If we can get some strong buying not only covering than we will see over $40.
I have my position !
Given we double tapped 28.90 this week and earnings on the 29th
The short tRade has run its course. They will be covering all month into ER.
Maybe not 35 next week. But definately not 25.
I see 40 end of month.
This is thee bottom people.
on massive volume. This really looks bad. Theres no technical signal to indicate anything but down.
whomever bought 3000 call options for OCT 30TH $35 strike, Is probably just throwing out a decoy. This puppy wont reverse with todays sort of volume. A retest of lows and probably failure and teens.
left on its own, it fades and wonders.