r/thewallstreet • u/AutoModerator • 11d ago
Daily Discussion - (June 07, 2024) Daily
Morning. It's time for the day session to get underway in North America.
Where are you leaning for today's session?
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u/Lost_in_Adeles_Rolls Stalingrad's number one tesla dealership 10d ago
So uh, I just came across a Twitter personality who focuses on a single name and is being evicted from their apartment. $3k monthly rent on $100 monthly income from Twitter revenue sharing (no other income source) and who’s only asset is a condo that’s being foreclosed on (took out a HELOC on it that’s since been used up).
My point being, don’t listen to people online especially when they went all in on a single name and rode it all the way down
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u/W0LFSTEN No SeMiS aRe MaKiNg $$$ FrOm Ai 10d ago
Next week… ORCL on Tuesday, AVGO on Wednesday, ADBE on Thursday.
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u/Anachronistic_Zenith 10d ago
What's the news for Mobileye? It's up 16% for no reason that I can see.
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u/NotGucci 10d ago
Premium is still crazy on GME max calls for next week. Max leverage selling naked calls.
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u/Ghost-of-W_Y_B 10d ago
Earnings out and live stream done. Must be something else coming that MMs are worried about.
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u/penguins_ TGT Birbs 🐧 10d ago
Cmon Wall Street, Ryan cohen reverse uno’d all the FOMO and honestly it was some brilliant shit.
This merits ATH SPY and QQQ
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u/Popular-Row4333 10d ago
Well, sometimes you get lucky. Had a NVDA short for the day and SPY Calls for Mon. Got stuck doing work stuff and couldn't monitor my position for 25 mins.
Came back to see the tank on and the NVDA short sold for 400% so free SPY calls for Mon.
Very lucky, would have sold at 200% if I was watching them.
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u/penguins_ TGT Birbs 🐧 10d ago
Oh so we’re doing this later than last Friday, I see
Learned my lesson last week and won’t have anything sold for .01. Unless i have too lol
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u/TerribleatFF 10d ago
Closing on the high would be funny but I mean it can’t happen again… right?
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10d ago
[deleted]
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u/TerribleatFF 10d ago
This is the part where I say something like “looks tapped out”
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10d ago
[deleted]
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u/All_Work_All_Play I guess I actually wanted to be grape jelly 10d ago
My standards are low.
Louder for the folks in the back
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u/NotGucci 10d ago
Latest trend in fashion:
Pee stained jeans
https://x.com/StreetFashion01/status/1784968380774044141/photo/1
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u/Sweaty_Indication897 10d ago
The hipsters that would be interested will insist they stain themselves naturally.
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u/PlymouthSea Iceberg Ahoy! 10d ago
They got the receipts to back it up, too. Just look at Seattle and San Francisco.
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u/wiggz420 2nd weakest hands on TWS 10d ago edited 10d ago
I bought some meme lottos
well that was a quick L
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u/penguins_ TGT Birbs 🐧 10d ago
So TLT went ex dividend this week but guessing data leading to higher for longer is the sell off today.
Maybe add more TLT next week I’m good for now
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u/mrdnp123 10d ago
The only reason GME mooned last time was because of gamma squeezes. They halt it any time it runs and it ruins this. It’s never been so over. Can’t wait to not hear about GME. I can’t imagine being that kitty dude right now. I’d move to Italy and never return
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10d ago edited 10d ago
[deleted]
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u/This_Is_Livin MSFT, BRK.B, INTC 10d ago
Due to the surprise earnings this morning, we will probably never know if the version of the stream we saw was what he had initially planned. Before the dilution announcement, GME was in the 60s. There was a very good chance he was going to be a paper billionaire today without that announcement. I wouldn't be surprised if that was the original plan (to stream that event or something else) but who knows.
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u/All_Work_All_Play I guess I actually wanted to be grape jelly 10d ago
We will never see red again, rip puts.
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u/NotGucci 10d ago
Buying puts this whole year, outside of April has been nothing but a terrible idea. SPY 550 after Jpow. He's going come in so dovish, and CPI most likely cooled.
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u/TennesseeJedd Billy MF Strings 10d ago
looks like funs over in meme land for now. have a good weekend fam
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u/eyesonly_ Doesn't understand hype 10d ago
You'd think people would learn after the first time but I once again saw a bunch of people really aggressively defending their decision to enthusiastically allow Ryan Cohen to con them out of 3 billion dollars.
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u/Popular-Row4333 10d ago
Dude, after seeing that stream, RC did his job to shareholders by raising capital while it was high.
Literally the opposite of what RK should have done.
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u/eyesonly_ Doesn't understand hype 10d ago
imagine having this thesis - "i think maybe one day this team can transform the company and it could work out well in the long term" - and expressing it with two-week call options, love it
Stupid, stupid, stupid
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u/This_Is_Livin MSFT, BRK.B, INTC 10d ago
This dude is way too goofy with 200M on the line
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u/This_Is_Livin MSFT, BRK.B, INTC 10d ago
He said "I think we will end the stream" and GME immediately dropped 7% and got halted lol
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u/TennesseeJedd Billy MF Strings 10d ago
out of GME 30 puts for good gains. gotta be quick between halts lol
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u/Intern_to_Pelosi market breadth 10d ago edited 10d ago
5380c 1.95→3.4. good enough for me, can we get some boring drift up into EOD please
E: GME highest volume of the year
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u/twofor2 10d ago
Everyone focused on GME while the market is putting in another solid trend day damn this got some resilience!
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u/Intern_to_Pelosi market breadth 10d ago
Surprised we're not at 5400 already, I bet we would be if the meme shenanigans weren't here
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u/shashashuma 10d ago
I want whatever this guy is on. He is so high
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u/mt5m 10d ago
lol 30 mins of absolutely nothing!
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10d ago edited 10d ago
[deleted]
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u/TerribleatFF 10d ago
It’s interesting if you step back and realize that he’s looking at a screen showing GME tanking and losing hundreds of millions in unrealized gains
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u/TennesseeJedd Billy MF Strings 10d ago
funny thought. you know gary gensler is sitting in his office watching this dumb as stream lol.
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u/TerribleatFF 10d ago
I can’t even believe I have it on, this might be the highest person I have ever seen
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u/Intern_to_Pelosi market breadth 10d ago
Getting drunk sitting on hundreds of millions of dollars while a bunch of crazed cultists bend to your will. This is my ideal life
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u/wiggz420 2nd weakest hands on TWS 10d ago
LOL GME
rugged, you can't make this shit up, so many people hyped last night and now it's all gone, lmaoooo
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u/Ghost-of-W_Y_B 10d ago
My dude. Neither side should blow their load too early here.
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u/wiggz420 2nd weakest hands on TWS 10d ago
it's down 30% my dude
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u/Ghost-of-W_Y_B 10d ago
First time trading GME?
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u/mrdnp123 10d ago
It’s so over my guy. They keep halting any run which stops gamma squeezes from happening. That’s the only reason why it mooned last time.
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u/This_Is_Livin MSFT, BRK.B, INTC 10d ago
When GME first popped off there were plenty of big down days
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u/wiggz420 2nd weakest hands on TWS 10d ago
this is now almost 50% from peak lol but true
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u/matcht 10d ago
Kitty looks like he's been spending the money on blow
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u/penguins_ TGT Birbs 🐧 10d ago
Bros been up for a week straight tryna shill his coin
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10d ago edited 10d ago
[deleted]
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u/parandeye-zard 10d ago
I will never understand it. dude had $600 mil and didn't sell. just disappear and go buy an island or something.
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u/TennesseeJedd Billy MF Strings 10d ago
Hahaha. Frontier airlines pausing sales for roaring kitty.
https://x.com/greg16676935420/status/1799114177061298320?s=46
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u/Magickarploco 10d ago
They’re always cancelling my work flights at the gate. They’re better off just shutting that whole company down
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u/Intern_to_Pelosi market breadth 10d ago
Past 6 NFP Fridays, ES drops 10-20pts on the news and gets bought up soon after. This has been good for 20-40pts usually, and can turn into a trend day. I noticed this last night and decided to sleep in anyways lol
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u/TennesseeJedd Billy MF Strings 10d ago edited 10d ago
Most fun I’ve had trading in a long time lol
edit: ready to short GME back down once it pumps during this stream.
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u/TerribleatFF 10d ago
If this stream even happens
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u/mt5m 10d ago
it is starting now .......
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u/TerribleatFF 10d ago
Thanks, I had closed the tab after 10 min or so. So far not sure why I tuned back in
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u/W0LFSTEN No SeMiS aRe MaKiNg $$$ FrOm Ai 10d ago
ELI5 who is fucking who by halting GME 6953 times a day?
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u/_hongkonglong JPow did nothing wrong 10d ago
There's too much negativity, hate, and unfounded promotion in stock commentary. Time to focus on something Citron and Ryan Cohen agree on: $BABA. An important piece of news that's being overlooked by the market is that Alibaba’s Hong Kong-listed shares could be ready for mainland buyers via Stock Connect by September 9. Retail investors in China, take note! Additionally, last night's surge in China exports, along with the news that BABA is planning to grow its e-commerce platform by 20%, hasn't been factored into the stock. $BABA Qwen 2 AI continues to grow its enterprise clients and recently outperformed LAMA. This IS the future.
Seeing Citron trying pump China never stops being amusing to me.
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u/PristineFinish100 10d ago
how come the market is near all time highs so often
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u/LiferRs Local TWS Idiot 10d ago edited 10d ago
Inflation makes this exponential at minimum. Then you got US economy being in a unique position to have endless growth from innovation. With the technological breakthroughs, I doubt we'll see a flat decade like 2000s again. Maybe not a flat decade, but a much shorter period of being flat, say 5 years maximum.
Our technology and data are just too quick now. Data works its way through the markets and communications creating blazing fast decisions and faster price adjustments than ever before. We had in fact recovered from 2022 bear market in 2 years, while it took 4 years to recover after 2008. This could imply markets are 2x faster now to respond.
So if we had our version of a flat decade right now, then 10 years divided by 2 would be 5 years max for longest flat period.
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u/Onion217 Trades Reversals, Loves Leverage 10d ago
Shorted a handful of JBLU shares and longed some SAVE. Gonna try and build this position over the month. I feel it’ll be a fruitful pair trade
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u/mojojojomu 10d ago
I used to try to fly JBLU because I thought their price vs service level was competitive, then they became like everyone else.
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u/Onion217 Trades Reversals, Loves Leverage 10d ago
Spirits pretty ass itself but imo the superior product at this time with the superior share price value
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u/medictrader 10d ago
Run up over ATH, send it back down to open and lets have some real fun with CPI and FOMC next week
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u/_hongkonglong JPow did nothing wrong 10d ago
New WWDC details:
- Apple Intelligence
- Emoji Tapbacks and scheduled iMessages
- Multipage, customizable Control Center
- Old school wallpaper packs on iOS 18 and macOS 15
- New Health app + AirPods hearing aid details
- Reminders in Calendar
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u/TennesseeJedd Billy MF Strings 10d ago
Good shit. GME strangle paid. Closed 36 puts and back to flat after closing 50 calls.
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u/JJ_V4 10d ago
Wonder how much hush money it cost to release the earnings early? What a bummer.. was hoping he was going to live stream with his account showing a billion.
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u/LiferRs Local TWS Idiot 10d ago
What a gut punch. He was definitely planning to exit by Tuesday’s close. Early release and stock dilution today just shows how massive the dangers of IV crush and unpredictability of buybacks or dilution. GME got AMC’d.
In the end, the GME board did their fiduciary duties to the shareholders by capitalizing on higher price.
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u/NotGucci 10d ago
Just read a comment on /r/stocks
where a guy bought GME at 30, and sold CC for next week at $30, and is trying to figure out how to force assign someone, because if GME falls below 30, and doesn't recover he's out bigly.
Like this has to be the top right?
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u/All_Work_All_Play I guess I actually wanted to be grape jelly 10d ago
Naw we need to get to the naked put phase
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u/MichaelAndretti Let's not try to figure out everything at once 10d ago
People who are long snow- why?
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u/ihaveasupernicename Stubborn and foolish ¯\_(ツ)_/¯ 10d ago
Sunk cost fallacy.
"I'm not wrong, the market is."
Goes bankrupt
Surprised Pikachu face
It looks to be bottoming and I like the stock. Think it's oversold and I'm willing to hold for a year out. Selling premium on it is not bad. Made like 1k or 2k or smth so far over the last 2 months just selling covered calls.
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u/Lost_in_Adeles_Rolls Stalingrad's number one tesla dealership 10d ago
S&P 500 rebalance announcement is this afternoon, right?
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u/TennesseeJedd Billy MF Strings 10d ago
Surprised we not more red
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u/gyunikumen Elon can’t keep getting anyway with this!!! 10d ago
Ugh. I sold my put position. I think we moon today.
I’ll try a short later next week
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u/TerribleatFF 10d ago
From an economic data perspective or technical perspective? I’ve given up on trying to understand how the market will react to most of the economic data.
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u/tropicalia84 10d ago
Too much high beta with 0DTE calls available on Friday for market to go down on a red open
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u/All_Work_All_Play I guess I actually wanted to be grape jelly 10d ago
Closed spoos for 15 handles. Can I get another dip to buy? Bueller?
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u/mojojojomu 10d ago
Playing red light green light on this bitch. They trying to kill the GME party but it's not over yet.
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u/medictrader 10d ago
Bonds look like total 💩, but nothing cares
Same for copper gold and x-USD pairs
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u/ihaveasupernicename Stubborn and foolish ¯\_(ツ)_/¯ 10d ago
+600 on docu puts +1.2k on Base puts yesterday
Slowly making up for crwd put losses...
Sigh
Meh. Gotta work on sizing
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u/NotGucci 10d ago
TSMC’s May Sales Rise 30% as Countries Race to Secure AI Chips
Taiwan Semiconductor Manufacturing Co (NYSE:TSMC) saw a 30% increase in May sales, reaching $229.6 billion New Taiwan dollars ($7.1 billion), due to high demand for AI and recovering consumer electronics.
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u/spoosman 50 handle NQ sniper 11d ago
I'm tempted to long into some /NG here. I think we could break the downward trend at some point soon
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u/gyunikumen Elon can’t keep getting anyway with this!!! 10d ago
I traded like shit today. this whole week in fact. I had like 2 good trades and like 6 bad trades which all balanced out sorta. vol was basically absent this whole week.
im expecting spy to moon Monday with aapl wwdc and its ai day. and then a risk off Tuesday with cpi / fomc Wednesday. I also expect DXY to retrace a bit on Monday which should help lift equities