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$BBBY

Good luck! Tried getting in this morning at 8:30 but my contract wouldn’t be executed so I said **** it.

Think it goes past 13?
 
It makes me sad that this is how some people get wealthy in this country
It's only okay when hedge funds try to bankrupt companies?

They're struggling, yes, but they had a market cap of 500 million last week. Buy buy baby is worth more than that by itself. These plays are what some might call deep f***ing value plays.
 
It makes me sad that this is how some people get wealthy in this country

Buying a severely depressed asset after a few years of executive mismanagement?

The stock was down 89% at one point. Valuation was ~$500M on revenues of $7-$8B annually. The shorts were pricing this business for bankruptcy, investors disagreed. It happens.
 
It makes me sad that this is how some people get wealthy in this country
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We know @bunsen82 is all over GoPro!
Honestly I sold yesterday making 20%. The entire market is hitting resistance, and not pulling through. Currently I created a short position on MSTR through purchasing stocks, selling deep in the money call and purchased a put. Breakeven on that is anything below 310. Through price action yesterday and today I am ahead. Currently that call put structure goes through Sept 16th. I am keeping my speculative buy on PEI preferreds. Otherwise, this market is going to take a hard fork, it will either power higher or its going to head for lower lows than June. I think odds are this is a bear market rally that just ran out of steam. Tomorrow should tell us. If CPI remains hot the market will likely go down, and will be in full meltdown if the Fed does an emergency August meeting and rate increase.
 
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Honestly I sold yesterday making 20%. The entire market is hitting resistance, and not pulling through. Currently I created a short position on MSTR through purchasing stocks, selling deep in the money call and purchased a put. Breakeven on that is anything below 310. Through price action yesterday and today I am ahead. Currently that call put structure goes through Sept 16th. I am keeping my speculative buy on PEI preferreds. Otherwise, this market is going to take a hard fork, it will either power higher or its going to head for lower lows than June. I think odds are this is a bear market rally that just ran out of steam. Tomorrow should tell us. If CPI remains hot the market will likely go down, and will be in full meltdown if the Fed does an emergency August meeting and rate increase.

20% is pretty good considering you said your average cost was $8.50 two months ago
 
20% is pretty good considering you said your average cost was $8.50 two months ago
Funky it was pretty clear I was heavily invested in XIN - remember that conversation. Just check my account sold in April 20th time frame. I sold out in the $9 range on GPRO back in February I believe. I have taken some decent hits in the last year, much like most people. I sold out of XIN and repurchased GPRO for an average of around $5.95. Gopro is one that if I can get out after the 4th quarter report and come back in around this time. I sold at an average of 6.72 yesterday. Tried to sell a call for 50 cents before the quarterly report but just missed. The report was a bit meh to me. I was disappointed in the CFO drastically pulling down the earnings estimates. Still think its a really solid investment, but it will get whacked in market pull down. I can't fight the market. I had also bought Meta at 160, sold at 172. I purchased MSTR at 260 sold out around 270 after bitcoin failed breaking the second time, bitcoin has now failed a third time to break $24,000. I now switched to the short position as I fell MSTR moved too far to fast and if bitcoin gets below 21,000 you will start to see some significant strain on the stock. I more than expect it to be below $200. We will see. Its a moderate position for me. Wanted to go stronger, but will go with what I have. 65% of my money is in cash. An additional 15% is effectively cash protected in my MSTR position. The remaining 20% is what I can lose on the MSTR position and PEI. I have the potential to lose 54 grand with potential to make 126 grand. I also purchased a mix of the PEI preferred in the low $3 range. If we start the 2nd wave of the bear market will look to put in long term long positions come around November. Should have a good capital position to do really well on the next run up. I am not perfect far from it.
 
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Ummm with the CPI much weaker than expected. This trade may still be on for another month with limited data points between now and September. I have closed my points and actually only lost a couple dollars in MSTR. I don't want to get in the middle of a short squeeze. I can get back into GPRO at similar prices that I sold but I may stay on the sidelines.
 
While I think the market is overvalued here, there’s not much to stop momentum in the next couple of weeks.
 
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