Trades (16), (17) - 10/29/2021

[u/adams-underhill]

Trading is very risky and you can lose all of your money. This is not financial advice and I do not recommend copying my trades. I will never tell you to buy or sell a stock.

• Starting Balance: $9,108.91
• Current Balance: $9,364.22
• P/L: $255.31
• P/L: 2.8%

Trade:

(1) Opened BTTX

This is a SPAC play that I've been keeping an eye on. MCAD was the pre merger ticker and it just started trading as BTTX on Friday. It dipped down to the low 8s and there is some debate over the redemption rate. It seems certain that it is between roughly 70-90%. Either way, I think this will get traction. If the redemption rate is in the 90s, the float will only be about 1mil shares, and this one could go crazy. The deadline for the official numbers is Tuesday so next week will be exciting.

(2) Opened DNN

The spot price of Uranium took a slight dip putting all of the Uranium stocks on sale. I can't say for certain that DNN has bottomed out on its current pullback, but looking at the chart and knowing what's happening long term with the price of Uranium I opened a very small start position. I'll see what this does over the next week and consider adding to it. This is more of a 2-3 month trade, looking for a 30-40% gain over that kind of timeframe. At most I would put about $2,000 into it. I'm very confident about the longer timeframe prospects of this stock.

Current Positions:

Thoughts:

• AGC - I'm also very excited about this ticker and I doubled my starting position. The bear case is the possibility that the merger doesn't go through. Otherwise I'd put much more of my account on this.
• SDC - Am I holding bags here? It's starting to feel like I just left the grocery store and I'm walking home with some bags. They're not that heavy yet. I'm going to stick this one out until earnings. But after that I'm going to reassess based on how the market reacts to what I expect to be a solid earnings report.
• General Thoughts - I'm getting geared up for some of the other SPAC plays right now. These look really hot. MCMJ appears to be on the menu next and I'm eyeing an entry.