MCB the Bitcoin Bank Stock Recovers Today

in bitcoin •  7 years ago 

MCB and other Crypto stocks had another great day today as many crypto stocks trading on the major US exchanges made solid gains. Metropolitan Bank Holding Corp (Ticker MCB) opened at 44.71, closed at 47.49, and made it up to 51.00 post market. This is a total gain from open to post market of 13.99% with 6.6% of that occurring during market hours. For those of you who don't know about the MCB/Bitcoin connection please refer to my previous post.
MCB was listed on the Russell 2000 index on the 15th leading to a much needed increase in volume. Today it reaching 190% of it's average daily volume according to Marketwatch. They also had some news today about the appointment of Gerald A. Perri to the position of both COO and Executive Vice President. He already has experience with the bank because he previously served as it's Chief Financial Officer from the inception of the bank in 1999 to 2006. This seems to me like a positive development because not only does this guy have decades of experience in the field but he has experience at this bank in particular as well. Read article here
Also today Seeking Alpha published another article about the bank's connection with Coinbase and Bitcoin and how this has likely had a huge impact on the bank's growth thusfar. Read article here
Luckily I decided not to sell MCB when it dipped below my mental stop loss on Dec. 14th and was pleased to see it back above 50 dollars post market. I'm expecting this stock to continue to rise as knowledge of the Coinbase connection becomes more widespread among investors and traders. With MCB, which I entered at 47.95 on December 11, I learned yet again that I should be patient and buy on the dip instead of succumbing to FOMO and buying a stock as soon as I think it has potential even if it has already had several days of gains. If I had waited I could of achieved a much better entry then I did and gotten in at as low a price as 43.00. All well, hindsight is 20/20, and at least I am still in profit on my position.
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My current positions, entries, targets, and stop losses. (advice is welcome)
SAIL Current Price: 14.58
Entry:16.03(I know again, I didn't wait for a dip)
Stop Loss: 13.38
Target: 21.00

TVIX Current Price: 5.49 (This is my one hedge if the market decides to crash, its a 2x leveraged ETF that tracks the VIX)
Entry: 6.78
Stop Loss: None
Target: 50.00 (Since this was worth more then 8,000 a few years ago, I figure 50 is a pretty conservative target)

MCB Current Price: 51.00
Entry: 47.95
Stop Loss: 43.76
Target: 65.00

DPW Current Price: 5.33
Entry: 5.38
Stop Loss: 4.20
Target: 8.72

MARA Current Price: 5.80
Entry: 6.33
Stop Loss: 5.00
Target: 9.00

AMD Current Price: 11.03
Entry: 10.14 (Actually listened to my rational brain and bought at support)
Stop Loss: 9.90
Target: 13.00

OPNT Current Price: 19.40 (Had a horrible earnings report, but they make Narcan, enough said)
Entry: 19.90
Stop Loss: 15.00
Target: 35.00

TEUM Current Price: 1.66
Entry: 1.36
Stop Loss: 0.80
Target: 2.62

SFIX Current Price: 23.86 (Earnings tomorrow after market, I'm predicting a good report)
Entry: 24.31 (Should of waited for the dip.....again)
Stop Loss: 20.00
Target: 35.00

Thanks for reading!

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