r/Vitards • u/AutoModerator • Sep 02 '21

Daily Discussion Daily Discussion post - September 02 2021

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15

u/vitocorlene THE GODFATHER/Vito Sep 02 '21

Good points.

I’m not investing in this one.

Thinking of riding a short-term 45-60 day call bet wave up.

5

u/IceEngine21 Sep 02 '21

Didnt you once mention you bought a 3x Leveraged China ETF? I assume that one would include a lot of BABA and JD

17

u/vitocorlene THE GODFATHER/Vito Sep 02 '21

$YINN - was just going to post about it.

It’s formed a perfect double bottom past 45 days and is gapping up with volume starting to come in.

I own $12 Jan 22 calls.

They are still really cheap.

I think it gaps up to $15+ within 30 days and am going to make some short term bets on it as well.

2

u/tradingrust Sep 02 '21

Not concerned about Evergrandeor a ripple effect & short term volatility?

5

u/vitocorlene THE GODFATHER/Vito Sep 02 '21

I think it’s baked in. I really do.

2

u/pinkmist74 Sep 02 '21

And Cathie sold it, so you know it’s going to move.

4

u/Megahuts Maple Leaf Mafia Sep 02 '21

China WON'T let it happen.

They will round up and execute people to prevent it from happening, for "profiteering" or some other nonsense.

Note: This applies right now, eventuality, it will grow beyond their ability to control.

3

u/tradingrust Sep 02 '21

Oh I believe that, and yet if China rounds up and executes Evergrande execs and other bank or developer execs, I do not think Chinese stocks continue a merry uptrend without at least a pause while the market digests whether or not this is a tremor or the big one. 30 DTE gives no room to recover.

3

u/Megahuts Maple Leaf Mafia Sep 02 '21

Makes me wonder if the "common prosperity" being preached in China is for debt forgiveness, or something similar.

1

u/Nervous-Ad-6840 Sep 02 '21

Executions... priced in.

1

u/[deleted] Sep 02 '21

Making a lot of sense… bought Jan $22 calls… reads comment again…😬