Is the stock market going to tank?

**m2711c** · 03-13-2023, 12:10 PM

**LeeLau** · 03-13-2023, 12:42 PM

Originally Posted by LeeLau

I'm in too! 24 so not great but just a few shares for the Lulz while getting some pow

Sold WAL 30er calls expiring end of week for $6. IV on those off the hook. Will be happy to get assigned

**JimmyCarter** · 03-13-2023, 12:46 PM

Originally Posted by LeeLau

Sold WAL 30er calls expiring end of week for $6. IV on those off the hook. Will be happy to get assigned

Can’t complain about FRC but the bounce back on WAL has been crazy.

**LeeLau** · 03-13-2023, 01:04 PM

Originally Posted by JimmyCarter

Can’t complain about FRC but the bounce back on WAL has been crazy.

Yup I took position in WAL just after FRC. Both have equal exposure to uninsured deposits ie immaterial

**yeahman** · 03-13-2023, 02:59 PM

Originally Posted by sirbumpsalot

People who need liquidity for their $1B and don't want to open and manage 4000 bank accounts with different institutions?

Then they're stupid

**MultiVerse** · 03-13-2023, 03:29 PM

legend

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**Cono Este** · 03-13-2023, 05:59 PM

Merrill has a service which will place 250k across multiple banks like that. I imagine GS and Morgan do too.

**Hott Butt Mud** · 03-13-2023, 06:21 PM

I grabbed WAL and FRC early AM.... sold WAL at 44% profit! I sold FRC as well and good gains on that as well.

I also bought Charles Schwab and will hold that for a while as well as a little of the Regional Bank ETF (IAT).

Blood on the street and was good time to buy cheap bank stocks.

**AK47bp** · 03-13-2023, 06:28 PM

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Confusion at SVB to say the least.

**LeeLau** · 03-13-2023, 06:38 PM

Originally Posted by AK47bp

Confusion at SVB to say the least.

Thanks. That is a strong message and a good way to come in. The new CEO knew this would be leaked and surely wrote it for optics but it was written with clarity

**AK47bp** · 03-13-2023, 06:42 PM

Originally Posted by LeeLau

Thanks. That is a strong message and a good way to come in. The new CEO knew this would be leaked and surely wrote it for optics but it was written with clarity

Clarity is a funny word considering everyone was fired via email Saturday with a 45 day notice and now this email with no mention of what anything means or if the prior email is now void.

Is it a trap to keep the essentials from jumping ship? Otherwise they have to deal with staffing?

Nobody trusts it from what I hear.

**jackstraw** · 03-13-2023, 06:59 PM

It's definitely odd that the termination email was not mentioned. Hard to believe he wouldn't know about it, but possible maybe. Otherwise, it did seem like a clear and concise email that would make me feel pretty good about continuing as an employee.

**AK47bp** · 03-13-2023, 07:07 PM

Originally Posted by jackstraw

It's definitely odd that the termination email was not mentioned. Hard to believe he wouldn't know about it, but possible maybe. Otherwise, it did seem like a clear and concise email that would make me feel pretty good about continuing as an employee.

Yea. I hope. The wife already has a couple interviews scheduled so who knows. Things should be more clear this week.

**AK47bp** · 03-13-2023, 07:35 PM

And this just came now, good news it seems.

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**byates1** · 03-13-2023, 07:43 PM

Chat gpt wrote it.

**LeeLau** · 03-13-2023, 08:17 PM

Originally Posted by AK47bp

Clarity is a funny word considering everyone was fired via email Saturday with a 45 day notice and now this email with no mention of what anything means or if the prior email is now void.

Is it a trap to keep the essentials from jumping ship? Otherwise they have to deal with staffing?

Nobody trusts it from what I hear.

My bad. Did not know about the prior email. Usually something like this would be scrubbed by legal so it seems like a screwup

**JaytaeMoney** · 03-13-2023, 08:48 PM

Originally Posted by Cono Este

Merrill has a service which will place 250k across multiple banks like that. I imagine GS and Morgan do too.

It's called IntraFi and there are thousands of banks in their network. It's extremely common in the industry.

**jackstraw** · 03-14-2023, 05:16 AM

Originally Posted by 406

anyone else get a don't panic email from your financial institution?

Just got one, but nothing from TD bank where I do the bulk of my transactions.

**JimmyCarter** · 03-14-2023, 06:27 AM

Panic over?

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**Cono Este** · 03-14-2023, 06:52 AM

This is another example of why I tell people to first ask who an advisors custodian or BD is before opening an account. Why ever take the added risk that someone else is taking for themselves. I won’t even use schwab because they issue home loans on margin for dumb people. Never open a margin account unless you are going to use it. It’s like buying a car, at the end they want you to just fucking sign everything. Fuck that, bury your money if you have too.

**LeeLau** · 03-14-2023, 08:24 AM

Citadel has joined the chat. Just took 5% stake in WAL

**Brock Landers** · 03-14-2023, 08:37 AM

People are going to make some serious money on this stuff. In this thread too!!!

**LeeLau** · 03-14-2023, 09:25 AM

Originally Posted by Brock Landers

People are going to make some serious money on this stuff. In this thread too!!!

If the Fed extends TARP to all deposits whatever their sum, then it's just QE by another name. No? Therefore Risk back on!

So it means STRONG BUY Btc and Doge. And WAL and FRC and ZION..

**JimmyCarter** · 03-14-2023, 09:39 AM

In terms of dumb bets, any thoughts on GBTC?
If BTC keeps going up, and they win their legal battle, there’s a built in 50-100%+gain here

Sent from my iPad using TGR Forums

**LeeLau** · 03-14-2023, 09:54 AM

Originally Posted by JimmyCarter

In terms of dumb bets, any thoughts on GBTC?
If BTC keeps going up, and they win their legal battle, there’s a built in 50-100%+gain here

Sent from my iPad using TGR Forums

Holding BTC via Canadian Etfs via tax free savings but the last time I looked at GBTC its book was actually discounted versus its crypto holdings (possible fear of undisclosed liabilities?).

If that's still the case then it seems to be a decent bet