The preparation from last weekend was good. Even though and that saved my neck, I do not trade the first 30 minutes of opening!
How and why? Usually the first momentum is wrong, most of the time. Banks and Funds have their orders all piled up and flush the market. Our "Traders" at Investment Banks were busy processing orders from clients. What ever it is process it and see whats coming out.
So after 20-30 minutes the market starts to settle and a direction starts to forming, which usually goes until lunch time in New York, 10-11 o'clock Mountain Time. After that the market starts to reverse again or stays flat for the most part.
If the initial direction in the opening was right that means all orders go one way. And if this is what it is we jump on it at 10 am EST. If the initial move was wrong the market starts to turn and we get a better price. Thats why I stay out for 30 minutes.
The initial direction on Monday was correct and hence I only closed United Guardian for a small win and left all other trades on!
They all recovered for the most part from last week and so on Tuesday!
The best pick I did was buying 1,000 Stocks of HELLO PAL, another Chinese gadget company competing with TIKTOK. They go big in the Arab world showing Burka dances if allowed. Great tool to spy on citizens, made in China! Another tool to dumb down western society. I bought in.
QUOTE PRNewswire, 24 FEB 2021:
"After having consistently achieved monthly revenues of over CAD 2 million over the past several months, and following the arrival earlier last year of industry veteran Vincent Chai as Senior Vice President of Operations, the Company has started to focus on expanding its revenue sources to markets other than the China livestreaming market.
The Company has already begun to work with several key partners to begin this expansion, including those with an established network of livestreaming hosts in the Middle East countries such as the United Arab Emirates, Saudi Arabia, Egypt and Bahrain. Such partners will help bring in a diverse community of livestreaming hosts and provide livestream content on Hello Pal that caters to the Arabic-speaking world.
In tandem, the Company has also been working with other key partners with an established userbase in the Middle East to ensure quality generation of user traffic to Hello Pal to consume the livestream content. This expansion presents exciting growth prospects for the Company as the Middle Eastern market is a proven market for livestreaming content, yet is relatively still in its infancy.
The Company has already been testing the Middle East market over the past several months, and initial results have been more than encouraging. Notably, largely due to the Middle East efforts, non-China revenue now accounts for 10% of its total revenue, having increased from 6.5% the previous month, and 3% from November 2020. "
The thing is Chinese DO NOT BUY STOCKS! Thus, to make money on the Stock market they have to qualify for the NYSE, NASDAQ or TSX. And they are traded on the Canadian Stock Exchange. So I paid Canadian Dollars.
This great Chinese video spyware is up another 25% today. My position is all green and in the profit. Will ride all the camels along the way.
We can also see that one of our positions the GM Short Call 12MAR21 is up by 1,200% from yesterday. But this is only book value since the contract will expire in 10 days. I can keep the PREMIUM only, there are not additional gains, only losses if any.
But GM made it up over 50% now in the past 2 days and that makes us happy. I hope we will have a great week and an even better next week.
HP.CN
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