Probably semantics, but they're calling it preliminary earnings results. I think the quarter is over and they announced early, but official results won't be until Sept 2 like you said.

Second Quarter Highlights:

Closed loan origination volume of $72.3 billion increased 40% compared to the first quarter of 2020 and 126% compared to the second quarter of 2019

Total net revenue of $5.0 billion increased 269% compared to the first quarter of 2020 and 437% compared to the second quarter of 2019

Net rate lock volume was $92.0 billion, an increase of 64% compared to the first quarter of 2020 and 170% compared to the second quarter of 2019

Gain on sale margin was 5.19%, up from 3.25% in the first quarter of 2020 and 3.22% in the second quarter of 2019

Net income was $3.5 billion compared to net income of $97 million in the first quarter of 2020 and a net loss of $54 million in the second quarter of 2019

Adjusted revenue of $5.3 billion increased 152% compared to first quarter 2020 and 300% compared to second quarter 2019

Adjusted net income was $2.8 billion, an increase of 335% compared to first quarter 2020 and 995% compared to second quarter 2019

Adjusted EBITDA of $3.8 billion grew 317% compared to the first quarter of 2020 and 868% compared to the second quarter of 2019

Looks like I got in at a good price.
It was a trigger decision I made right before the market closed yesterday.
Sometimes you get lucky with timing, most of the time I do not.

Been mighty quiet in here. Glad to see RKT is going back up after its little swoon. Good luck to all the longs that bought that.

Remember the old days when you had 10% gains a year in a stock,
Now 10% is a daily gain in some stocks - nuts

One of my stocks almost got to my target where I was going to sell some covered calls. Just barely missed it before it took a little dip. Almost had it, but no rush. Div gets paid out in a week and a half. Not going to make rushed moves when those calls were the same premium as the upcoming div.

I just wish I had bought more RKT.
Got in last week at 18.70. Holding long till Jan or so. Quarter 2 numbers on Sept 2nd. Cant wait for that meeting.

I just checked my entry point and I bought at 18 on the nose. I should have bought more last week but I was in an area without cell coverage for a few days. They preannounced some earnings about 2 weeks ago which gave it a pop before the swoon. Don't really know how the meeting on the 2nd will affect the stock but the numbers are going to be big and things look good through the rest of the year.

Off topic: I give you a weekly reminder in that other thread. Do I need to set up some type of reminder in this one?

Good job in on getting RKT at $18. How did you get in so early?

I added a second position of FVRR this past a Monday at $112. I am a buy and hold guy though and will be on this one to see how it goes. And yeah been quiet around here.

It dipped into the 18's on August 13th
Bought some at $18.67

You never buy enough of the winners and always to much of the losers

Laid out a strategy with my guy to go buy it on the open. Got 1,500 shares at 18. Was going to buy more when it dipped but I took off a few days last week on my boat and decided I was not paying attention to anything. Doh!

It will come a time with this stock that whether you bought it at 18 or 24 it is not really going to matter that much.

“Your guy” seems to be on it. Yes folks can wait for a stock to come down to buy, but a lot of times it’s doesn’t drop and they miss the bus. Good you give stocks some time also. Folks can trade in and out of a stock short term for a small quick profit and miss out on a bigger mid/ long term Payoff.

He has been a great advisor and friend to me. We just celebrated 19 years together, and with him going to 3 firms during that time. He took me on in my early 20's and it has been a great relationship. Don't get me wrong, it has been expensive, and when I started out I of course had less money and got less focus from him, but we have grown together. He has educated me so much on things during this time, and for that the knowledge has been priceless. Helped me with mortgages, insurance, college savings, taxes--the whole 9. I am sure that iceman44 will agree with this but when you find a good financial advisor, you get what you pay for.

Does anyone thing it's worth buying Testla at the $2045 price tag since it will split 5? Whats the thoughts on this one?

I wonder if the next bust will be bigger than 2000 tech bubble?

200px-Pets.com_sockpuppet (resized).jpg

WMT P/E 21
MSFT P/E 37
AAPL P/E 38
AMZN P/E 126

TSLA P/E 1,061

Why are you replying to my comment about this? I don’t know what you mean?

Tesla is a gamble on the future. Their batteries and self driving software could be the world standard. Then again, maybe not. I'll tell you what I do know. Millennial's bet on the future and their dollars are pushing this stock. I am sure this will run to $500 post split. These younger investors don't fully understand market cap. That $400 dollar share is going to look like a bargain to them. Is it a good buy? - no. Is it going to go up some more before correcting? - yes.

You gotta wonder at what point the big auto manufacturers get their products into the market and take over? I know their track record is spotty over the past few decades, but they do seem to take out competition out quick easily.

It is looking more and more likely that if Tesla gets out their next gen battery out it won't matter. The new battery is rumored to be a game changer. The other auto manufactures will need to buy or license battery technology from Tesla just to stay competitive (which is a win for Tesla). Making cars isn't why Tesla has the market cap it does. It is because it is on the verge of changing everything. In 5 / 10 /15 years all cars and trucks being produced might be running Tesla batteries or running Tesla software. I'm not saying it is going to happen but Tesla is the Vegas favorite at the moment.

Mad Dog that's why I'm on the fence on buying Tesla at $2000+ as you'll get 5 shares for each share purchased. It may still be worth it.

Apple was good to get into after all. I was able to snag it at $462 which is ok for now.

Keep in mind that the split does not change the fundamentals of the company, it just increases the float out there. A 10k investment is still worth 10k. Of course, you are hoping that the shares rise again after the split and maybe even split again. Tesla is still very expensive on a P/E ratio but the bet is that they are a tech company, not a car company.

RKT is up close to 10% again today.
Where will it be right before the Sept. 2 earnings release and where will it go after? Things seem pretty rosy for it.

Bought a little QDEL today on the dip. These guys make the Covid test kits among other things. Their profits should be huge over the next couple years on that alone.

Congrats to all the people that went in on RKT with me. In 17 days I am up ~61% and know some of you have similar gains. Real excited to see where this goes.

Good call.

It does appear that the survey says it’s a disruptor. Traditional metrics do not apply.

Was and still is not in my personal comfort zone.

I missed the boat on RKT. It's up a dollar a share today. Not sure if this is a buy at this price based on past performance.

Huh? RKT closed up $3.22 to close at $29.11. Not much past performance since it only started trading a few weeks ago.

Yeah, just not sure if RKT will continue to rise in the near future. Was a good buy @ 18+

I would never recommend what anyone else should do, but some detail I shared 2 weeks ago here in this thread...

"Still time to get into APPL before the split. Arguably a consumer spending 2020 favorite, their $460 shares will trade around $115 at the end of august due to the 4 for 1 split, BUT they have a whole wave of 5G-frenzy coming in Sept and Oct and iPhone 12 will be a must-have. That will drive the 'now affordable' shares to appeal to more investors who will load up on shares. While I would never tell anyone what to do, I have added to my position this month, and will expect those post-split 4 for 1 shares to hit $140 by the end of the year."

Update: The shares closed over $500+ already! That is a split price of $125+ at today's close. The split affects all shareholders on record as of TODAY. I BELEIVE the shares will still bump UP after the split is posted to brokerage accounts, due to 1) the fundementals of the company, and 2) the 5G frenzy beginning to get louder and more mainstream. You can hear it today. Watch TV for the new APPLE iPHONE advertisements, and see the early signals of the share price direction.

Markharris2000 I agree. I think Apple will do well.

Auto manufacturers cannot currently make money on electric cars. The margins just aren’t there. Battery is too expensive relative to the rest of the car, still. Most consumers have less purchasing power than they did 10 or 20 years ago. So why would Ford, GM, others go up market on an electric car when the market for it is still tiny compared to gas cars? ford isn’t even making cars anymore just trucks, that’s how lousy the car market is.

Tesla isn’t making money on electric cars either. Any profits they have reported have been accounting tricks and tax credits (literally, ford and others who sell gas cars are required to buy credits from Tesla to offset their pollution.)

Ok we all know about the fortunes we've made on AAPL, TTD, SHOP, SE, MELI, PINS etc.

My largest position now is PINS. SE is going to experience massive growth for a long time. E-commerce, gaming and payment processing. Same thing for MELI. TTD same thing with a massive and growing TAM.

FVRR and MGNI are two i've bought recently.

Now for the "in the ditch". Where do we go from here. Here is a little nugget from this morning on MAC and i still consider CCL a pure play ditch stock.

I guarantee you it's not going to be all up all the time for our Apple and growth stocks.

"Macerich (MAC)
We bought an additional 130 shares of MAC, representing a ~$1,000 addition and an 18% increase in our position size.
MAC owns a concentrated portfolio of some of the highest quality malls in the nation. It is currently hated by the market and trades at an estimated 85% discount to net asset value:

Recently, an investment group bought a 6.8% stake in MAC and they used a trust structure to hide their identity. The trust is called “Passive Investment Trust”.

However, after some digging, we found that MAC committed a mistake that actually reveals the name of the investment group. They forgot to change the name of the file, which includes the word “Ashkenazy”:

It appears very likely that the investment group behind “Passive Investment Trust” is Ashkenazy Acquisitions, which is a major private equity real estate investment firm with over $12 billion of assets under management. They specialize in highly urban core office and retail properties, such as those owned by MAC. You can visit their website by clicking here.

If the market knew about this, it would have likely resulted in quick upside as other investors buy MAC to co-invest alongside Ashkenazy. However, it appears that most investors missed this piece of information and therefore, the stock hasn't moved at all.
We believe that Ashkenazy's investment in MAC validates our investment thesis. They have the resources to do detailed due diligence on each individual property and they must have come to the same conclusion: MAC is deeply undervalued.

We also believe that having Ashkenazy on board is a risk-mitigator as they will support MAC's management and in case of real trouble, they could step in, take an activist position, serve as a lender of last resort, or even take the entire firm private.

We estimate fair value at over $50 per share. Yet, it trades at only $8. We are buying more. "

The also added to STOR, the favorite Buffet reit.

Btw, this coincides with one of my Commercial real estate brokers who says his company gets calls every day from private equity firms looking for deals and properties to buy.

Nobody is selling.

As for RKT, we opened a position for some accounts in the $20 range after it came public a few weeks ago.

As a long term investor i'll be looking for a pullback heading into the expiration of the 6 month lock up period for insiders and underwriters. Seems to happen every time! And then you load up IF the numbers are still good! Or sell if not.

I'm also raising some cash and selling into this strength for the shorter term. Obviously have to be careful on the taxable accounts triggering huge gains but we can't let the tax tail wag the dog so to speak.

I'm still long term bullish based on post covid vaccine, interest rates, FED POLICY, tax policy, stimulus etc. etc.

2021 is setting up to be a great year. That said, my cash raise on certain accounts depending on age, risk tolerance, taxes etc. is anywhere from 20%-50%.

I plan on deploying this back in on a 10-15% mini correction OR will sit pat IF the election goes the way of the Democrats, especially if they take the Senate.

If that happens. The universe and subsets of "the market" will get a whole lot smaller for me. It just is what it is.

Happy trails $$$$$$

Thanks Ice.

Looks like that paid off well today if you followed your own advice

Iceman44 great insights. Thanks.

Can you explain the following statement for people like myself who loves to invest but does not understand all the lingo 100% Thanks!

blockquote cite="#5814366">As for RKT, we opened a position for some accounts in the $20 range after it came public a few weeks ago.
As a long term investor i'll be looking for a pullback heading into the expiration of the 6 month lock up period for insiders and underwriters. Seems to happen every time! And then you load up IF the numbers are still good! Or sell if not.

Another further question, when is the 6 month lock up period ending?

Hope so. I bought in the Christmas of 2018 crash on the way down and the COVID crash I bought at 10% , 20% and 30% down on the SPY (not exact but close). Bought SPXL at each interval with about 8-15% account balance. The 30% was tough to stomach; so I went less in. Each position on the re-trace I sold north of 60% and now totally out except my long positions in SPXL and SPY options. SPXL is 3X S&P. Crashes are where the money is made.

Let me take a swag: Ice bought stock for some of his clients for around $20. As part of an IPO, inside stockholders and banks that worked to take the company public are forbidden to sell for 6 months. Typically as soon as the lockup period is over, you see a lot of people sell stock to cash in, which floods the market and pushes the value of the stock down. Ice is suggesting if the stock does not fall down too much at that point, that they will load up buying more stock. If the numbers start going down, Ice will sell.

This is a fairly common strategy.

Normally, it is 6 months to the day from when the stock started trading.

As an FYI, for people that work at publicly traded companies you will have limited periods of time that you can trade the stock. In a quarter, it works out to about 5 weeks or so. This blackout period typically runs about 2 weeks before the end of a quarter until the day after earnings.

Yep. 6 months from ipo date insiders and underwriters get to sell for big gains unless you are Uber or Lyft. Didn’t want to own those pre or post lock up

What I’m saying too is you get a free look for a quarter or two into the results in deciding whether you want to own this business.

Rocket makes a lot of sense to me IF election goes a certain way.

Mongo MDB was a great example. Twilio TWLO same thing.

Doesn’t matter how good the stock looks long term. You gotta get past those short term sellers that are using the lock up as an exit strategy.

Maybe they have a cost basis of $10 and they are good with a 200% gain

There is a lot of selling pressure potentially at that 6 month point.

I was buying Mongo at $35 post lock up sell off and Twilio somewhere in the $50’s? Can’t recall. But they absorbed sister company Sendgrid, the infrastructure portion, at $55 ish while SEND went public at $17 or so

Couldn’t buy SEND because had clients that my worked there. Loaded up on Twilio post that purchase

Uh-oh. Cramer is recommending against putting new money into Apple now through the split. Seems to think the run up has already occurred.

My largest position is now SE, Ice. I didn’t plan it this way, it just happened with the gains. I am guessing PINS wasn’t your choice to be your number one holding either? I am learning it is better to let my portfolio decide where it is going and staying out of its way. TTD is now my second highest holding and NVDA third, for now.

Won’t be tech forever, true, but just when I think it should slow down companies like CRM, which I also own also, killed on earnings today. It’s up 13% after hours. I am at 20% cash though and ready to buy during a downturn. A lot of folks have cash and are waiting and that is why I think we will see a more of a sideways sell off than correction. We will see.

What are you selling to get cash? Are you just doing some light selling across the board on accounts where the cash got squished because of the stock gains? I don’t know what to sell if I had to? Trim across the board I guess?

So since tech buys are slowing down I think it’s good to look at comebacks. I feel REITs are a good play for comeback options with their dividends and big growth potential from where they are currently at. I have had them and sold them for some nice gains a few times when they went up too fast (SPG when Amazon was maybe going into JCP stores), but I am likely holding them from here on in and have STOR and SPG currently. A lot of bad Reits out there and Safer ones that are priced higher from buyers looking for dividends. I want growth and will take more risk to get it. I don’t want to be flat footed if any type of vaccine comes out. I do know MAC has a bigger potential payoff then SPG and STOR and will check it out again also.

Thanks for your input, again.

But will people sell it? I thought about lightening up on APPL, But I don’t think I would or could. I bought at $370, $280 and $80 (yeah) so I have a cushion. Will the latest investors hang in if it drops 5 /10% or more?

What’s your take?

I plan to hold. I am in at all kinds of prices over the past 10 years. I suspect it will stutter for the next 2 weeks and then head north as 5G and the announcement of iphone 12 and the holiday buying kicks in. I do not plan on selling...

Seeing constant articles and listening to talking heads telling you the stock you own is overpriced is all part of owning a high growth stock and comes with the territory. Holding on to them during market downturns and even adding positions gets a badge of honor and later you get rewarded more times than not. We are in this one together. Long AAPL

And my 76 year old Mom who has money, but would not ever spend it so she was adverse to spending a dime on technology, just went out and got her first IPhone, finally got WiFi, is buying an IPad, new computer and is cutting her cable line and streaming due to the pandemic. Changes like this during this time don’t make me wonder why Technology is booming now and will boom for many years to come.