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Scionassetmgmt

Michael Burry is Wrong on This One!!! SELL ORCL!I love Michael Burry. He has some amazing calls and I'm always curious to see what he is up to, but obviously we're all human and make mistakes. His company Scion Asset Management started buying in the last quarter of last year as we're going into a 5th wave breakout. We have met three different objectives for a 5th wave target including divergence on the monthly chart. It's possible for an extended 5th wave, but more than likely not. My target is at least $82-$59, which is the .382 fib level of the entire move or bottom of wave 4. However, we will need to save a wave A unfold to determine a further target.
NYSE:ORCLShort
by adriel.arrasmith
GEO - Scion Asset Mgmt. = Smart money?NOT FINANCIAL ADVICE!!!! As shown in This SEC 13-F filing, Scion Asset Mgmt. (Burry) currently has one mentionable LONG and its this ticker with an assumed cost basis of $6.60 and 501,360 shares... I am betting these shares were NOT purchased on the open market and were instead acquired via assignment meaning credits from selling PUTS were likely involved (for tactical reason to fight slippage as explained below), unfortunately making it impossible to calculate a factual cost basis from this filing alone. Selling DEEP "ITM" PUTS(covered by cash) expiring today leaves a cost basis (if assigned) of $8.20 and if assigned, the ability to sell next weeks $9 strike for a profit on both sides. Profit in this scenario would be from credits collected at sale of calls and proceeds if called at $9 before expiration. The other way to also be long GEO at current market prices, and perhaps with a lower cost basis, would be to just buy shares. If you are buying shares in multiples of 1000 maybe the order book isnt liquid enough and you need a contracted price to enter without the potential for slippage? Well look no further than selling the deepest "ITM" puts expiring TODAY.... While selling "ITM" puts expecting a non-assignment is a game of long odds and not advisable, you also have the chance this way of keeping credits and not being assigned, which eliminates your ability to capitalize on the future upside for the unassigned shares, however you also didnt technically expose yourself to the share market and still profited. I personally dont like following others trades blindly, so I analyzed and found some technical confluence and subsequent conviction through the monthly volume profile points of obvious interest and fib retracement levels calculated from the last 5 year depreciation.
NYSE:GEOLong
by rolledchange
4
Inflection PointBKI caught my attention for a few reasons. 1. Held by Scion Asset Mngt- if you haven't heard of them or Michael Burry, check it out. Crazy returns off the financial Crisis. 2. SP sitting at an inflection point at bottom of long term demand zone and near lowest long term demand zone. 3. BKI's shiller PE ratio range over the past 10 years is from 36.26-43.09 and currently sitting at 37.37 implying that it is near its lowest valuation in 10 years. 4. Mornings Star Fair Value market valuation sitting at $61.1. My own target of $77.5 is based on a Fibonacci retrace of 61.8% of 2020 highs.
BLong
by Jrussell86