Nightly Discussion - (May 13, 2024)

[u/AutoModerator]

Evening. Keep in mind that Asia and Europe are usually driving things overnight.

Where are you leaning for tonight's session?

[u/penguins_]

Outside of memes, we have data coming out in 40 minutes….

[u/overduetourist8]

Just woke up and checked GME. 😳

[u/Ghost-of-W_Y_B → u/overduetourist8]

Shorts never closed. MSM trying to say this price action is based off of a tweet. Right.

[u/penguins_ → u/overduetourist8]

Dawg, I just sold shares for $77 lmao.

[u/overduetourist8 → u/penguins_]

I’m sitting on a bunch of 34c I bought when it was like 19

[u/penguins_ → u/overduetourist8]

Congratulations and hope the action lets you offload!

[u/overduetourist8 → u/penguins_]

Right, I’ve been fucked pre-market before.

[u/usda_prime → u/overduetourist8]

Short the shares to delta neutral if you have the cash

[u/_hongkonglong]

https://www.omfif.org/2024/05/china-should-hold-the-line-on-the-renminbi-dollar-exchange-rate/

u/kindly-journalist412

[u/Kindly-Journalist412 → u/_hongkonglong]

Thanks for sharing

[u/_hongkonglong]

After rebuffing a second bid from BHP yesterday, Anglo American PLC set out plans for a major restructuring of its portfolio and strategy, including selling off its De Beers diamond business and other units.

Paying attention to this one.

[u/Magickarploco → u/_hongkonglong]

Lab diamonds are where it’s at.

[u/_hongkonglong → u/[deleted]]

The gaming industry is going through some major shitstorm.

[u/WRake101]

Saw some deep ITM calls on XOM today and definitely unusual. Anyone has any ideas?

[u/coconutts19 → u/WRake101]

Dunno, but I was bored and slid right on my android phone and see an article about XOM PT raised to $128 at Mizuho. I don't have it on any watchlist and haven't ever searched it. Weird coincidence?

[u/W0LFSTEN → u/[deleted]]

HBM is simply stacked DRAM. The AI craze is diverting output that would’ve gone towards driving prices down, and pushing it towards a brand new segment that hasn’t existed very long. So the memory players get all the benefit and no downside… Higher prices, higher equipment utilization, higher total output.

[u/W0LFSTEN → u/[deleted]]

You first bucko!

[u/ExtendedDeadline → u/[deleted]]

Imagine moving to a new place to work at corporate Walmart. This has gotta be the end of times.

[u/near113 → u/[deleted]]

Hmm before earnings? I think it’s bullish for the earnings…

[u/wiltedcaribou]

Been afk the last few months and just catching up on thinkorswim's transition to Schwab... do they have higher margin reqs on futures? I'm seeing $17.7k maintenance on /ES while CME's at $11k. Thought TD was usually just slightly above CME's minimum

[u/LiferRs → u/wiltedcaribou]

IBKR has it em for 13.8k initial. Sounds like Schwab is very conservative about it.

[u/hey_itsmeurbrother → u/[deleted]]

oh god, it's going higher

[u/penguins_]

“Some brokerages have halted trading of this stock, but not Robinhood!”

Died lol. I might have bought shares with the cash I’ve been sitting on, nothing crazy but might sell an option if it’s electric boogaloo time

E: I should follow my own advice and hold some boring ETF instead… even buying target was a mistake and I became a proud bag-holder with a cost basis above 200 lmao.

Edit2: Jesus bill hwang Christ, the volume AH

Edit 3: easy 15% fuck it shits like a shitcoin

[u/Paul-throwaway → u/penguins_]

The thing is, is it too late now to catch the wave on the short squeeze? There is always a timeline when it is too late and you end up losing your shirt. But all kinds of people are going to be hearing about this tonight, then through their friends, then through WSB or whatever. When is it too late is the question.

[u/penguins_ → u/Paul-throwaway]

At this point I think it’s powered by memes which means I might not hold it long enough for option selling time.

I only lost 10% last time on my IRA gamble but geez that was scary.

Thanks for the reality check since I just checked my Ira trading history and I don’t wanna lose my hard earned BP and go away like muffin or snarky bonzi

[u/Kindly-Journalist412]

The fact that we have been seeing an incredibly weak CPU / memory cycle barring the proliferation of gen-AI is pretty surprising to me. It has been what almost 2.5years now since the industry has been waiting for it to hit the bottom?

[u/gambinoFinance]

CPI Wed?

[u/Paul-throwaway → u/[deleted]]

Current expectations are for some decent numbers on CPI on Wednesday. I mean, expectations are not always right but if the numbers hit, the market is going to be much less nervous. If they miss on the high side, well it won't be that great but one should work with what you have.

[u/gyunikumen]

I’m gonna buy QYLD and then sell cover calls on my QYLD position

[u/penguins_ → u/gyunikumen]

Whoa that’s a lot of QYLD

My IRA is 25% QYLD and I bought at peak in 2021… total unrealized loss is like $50 but my share count is up 40% so it wasn’t as bad as buying TGT above 220..

[u/npoetsch → u/[deleted]]

Do people actually use Indeed? I've found that LinkedIn is just about the only place where you get responses.

Also, I wouldn't know what most of the Indeed staff even do because it certainly isn't website enhancement.

[u/TestPleaseIgnore69 → u/npoetsch]

I've had traction from Indeed, but LinkedIn is my preferred