42 shares of CTXR around $2.46/share. Should be interesting in the next few weeks. I'm eyeing HITIF too.
Time to load the bus back up for more $50 put options in the next couple of months. Sold out my last position of them about a week ago, looks like I get another chance to make some money on $GME. @Nettdata If you are a betting man, hold your shares, but also take some options for the way back down. It'll be back in the $50's in another week or two.
TDA finally let me "Invest" some of my money. The silver miner I was interested in is already 2X from when I wanted to pick it up, but I also saw something else that caught my eye...Asia Broadband. They're a precious metals company that is about to launch a crypto, backed by gold, in China and Asia. I thought that was worth tossing a few bucks at. When I went to bed last night it was at .41, when I woke up it was .50. A very good sign. I picked up 400 shares at .47 and went about my day. I got home and looked and....it had lost 43% of it's value and closed at .27. I'm off to a smashing start with my return to trading. That's the fun part of playing with volatile stocks...tomorrow it could close at .77.
I'll get on this ride with you. Put in an order for 100 shares at 25 cents GTC. Let's see if this slot machine hits.
I put in an order for 600 more at .27 to try and make my gains a bit easier. I also picked up 1250 shares of the silver miner (Bayhorse Mining in BC) I'd been eyeballing. It's already 2X from the .08 it started out at, still cheap enough for a profit if silver stays high.
I set an alert for .25 on AABB. I’ll buy the dips and see what happens with this one. I like the idea of it, and at that cost it’s worth the gamble to a certain point. I’ll probably see what it does over a week or two then figure out if I wanna continue to hold (hodl?) or get out. Thanks for pointing it out man. I put a few hundred into a fidelity account with the idea being Id just use it to learn and figure out if gambling on stocks was for me or not. Figure 6 months, if it’s something I’m good at then I’ll continue. If I suck, then I’ll take whatever I have and cut bait.
I probably won't hold it much longer than the release date for their crypto. Normally I wouldn't have touched a crypto, but the fact that it's a precious metals operation releasing a gold backed crypto intrigues me...especially for the Chinese market.
As of right now, it's been pushed back to March. Always subject to change of course. https://finance.yahoo.com/news/asia-broadband-gold-backed-cryptocurrency-130000475.html
The Chinese Government wants to own all things crypto in the country. Ask me how I know. I would not touch any China/Crypto stock unless you realize it's purely a pump and dump.
Over the last 3 years I architected and led the dev team for an institutional cryptocurrency wallet solution. You know how you can log into your online banking, and then say "hey, I want to open a CDN dollar or Trading account?" We did that so that you could add "crypto" to that list of accounts that you could transfer cash into, out of, and hold. This is something that my client is actively selling around the world to other banks, etc. Doing so I had to become familiar with a ton of technical and business regulations for various global jurisdictions, including China. So I know what the Canadian, US, German, British, etc, governments and SEC-like organizations require for such a product. I also know what is required for China. China was simple, really... "we're not going to let you run it within our country, nor will we let our people knowingly use your services even if you host it outside of China." That meant it got struck off the list, except for the option to do a standalone version whereby all the Big Brother controls were included, and the government itself owned and ran it. So yeah, again, if there's any country that says they are doing ANYTHING around the financial industry within China, especially Crypto, I wouldn't touch it with a 10 foot pole.
I remain fundamentally bearish on crypto, but as they say, the market can remain irrational longer than you can remain solvent.
Not saying that they didn't cut a deal with the Chinese government, but I know its volatile enough that I would not ever consider investing in anything like that, personally. It'd be interesting to see their wording around their statement... I would bet that it's full of future hopes and plans rather than shit they've got going now.
I kind of had an idea that was the case, but went ahead anyways. One of my reasoning's is that I don't think this company is going to do anything more than launch the system. I bought this more on a hunch than anything else...ie...I didn't do any due diligence. I figured they're doing the heavy lifting and then passing it off to someone else once it was out on the market. I also thought that with China's emerging economy and their large number of Nationals on foreign soil, this would be a win/win for China. Instead of their citizens sending fiat currency home, they would be sending home currency backed by something with actual value. I'm sure, as with most impulse buys, I overlooked something really, really important. Oh well, I'm just getting my feet wet in financials after a long break, so we'll see what happens. I'm only staked at .36 now and even though it closed at .20 today, there's a very good chance it'll rise enough for me to at least break even or maybe even make a small profit. There's a lot of volume moving around which makes me suspect something's going on...an acquisition maybe? All the original pump and dump folks have already bailed, and for every share that's being dumped now, someone is buying it for some reason. One thing I don't see as good news about the company though is they just announced a dividend today. That appears a sign of desperation to me.
Again, I’m just a cynical old fuck so what do I know? At the very least you may do OK short term if you get in and out fast enough and take advantage of the momentum.