All things STOCKS

#9,026
#9,026
I think we could be setting up for a period in the markets like we saw from September-October 2020. Pull back 10% or so from highs, chop around for several weeks, before ultimately going higher. We're certainly overdue for some type of price action like that.

That September-October correction last year was after a melt-up during June, July, and August, where the market was seemingly up 0.25% or 0.50% every single day. Same thing happened in March and April of this year.
 
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#9,027
#9,027
05_never_again said:
I think we could be setting up for a period in the markets like we saw from September-October 2020. Pull back 10% or so from highs, chop around for several weeks, before ultimately going higher. We're certainly overdue for some type of price action like that.

That September-October correction last year was after a melt-up during June, July, and August, where the market was seemingly up 0.25% or 0.50% every single day. Same thing happened in March and April of this year.
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I read Tom Lee's take this morning. He usually strikes me as bullish to a fault, but I like reading his opinions.

These ‘panic events’ could soon spell relief for stock markets, says top strategist Thomas Lee
 
#9,029
#9,029
mrorange211 said:
Best Bond auction since 2017 and no one is buying bonds. This market pisses me off so much.
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Why buy a bond today if you expect a better return tomorrow? At some point I'll be getting back into bonds, but it could be months.
I also have to wonder how long the covid effect and stimulus effect will last. Several more months? When that wears off inflation might slow.
2020 was a weird year finacially for us. We don't work, and we didn't go out or travel. Our savings increased significantly.
We have trips booked and planned now, but everything seems expensive.
 
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#9,033
#9,033
Never shorted a stock, but AMC just seems too overvalued doesn't it? Trading at close to double at what it was trading at even before COVID and they just completed a big offering, diluting that value more.

It benefitted greatly from the Reddit boom in January and it still seems to have some popularity there, but I'm just not seeing the value at these prices.
 
#9,034
#9,034
Well yea, but momentum is difficult to predict. With the CDC change in mask wearing it could continue to rise.
Yes, look at it financally, and it probably looks like a good short.
OTOH, as someone posted in "movies seen recently", "I'm going to be a permanent fixture at the movie theater for a while".
I know how he feels
 
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#9,035
#9,035
Carp said:
Never shorted a stock, but AMC just seems too overvalued doesn't it? Trading at close to double at what it was trading at even before COVID and they just completed a big offering, diluting that value more.

It benefitted greatly from the Reddit boom in January and it still seems to have some popularity there, but I'm just not seeing the value at these prices.
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The pricing is clearly the result of WSB manipulating it. So if you think you can profit from the manipulation, or maybe the failure to manipulate, then maybe you're right. As long as you understand how that turtle got on top of that fencepost. I think shorts can stay short for a long time, and I guess the only real danger of standing pat is the borrowing cost might get high. I've never done it either.
 
#9,036
#9,036
I keep getting lucky with my close purchases. Made some Disney puts purchases at close. VXX purchases during Wednesday already at 25%.
 
#9,048
#9,048
Fido did some kind of an update. Working for me though.

I read a lot on bogleheads forum, and they banned all crypto discussion this morning. Hooray and overdue in my opinion. You don't have to tolerate shilling in your forum, even from smart people, which these are clearly not.
 
#9,049
#9,049
Firebirdparts said:
Fido did some kind of an update. Working for me though.

I read a lot on bogleheads forum, and they banned all crypto discussion this morning. Hooray and overdue in my opinion. You don't have to tolerate shilling in your forum, even from smart people, which these are clearly not.
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I was only a kid during the dotcom bubble, but I was exposed to it at that age due to my dad's interest in markets. IMO, the cultishness of the crypto community appears to exceed anything we saw from the bubbleheads during the dotcom bubble.

A lot of the platitudes are the same (e.g., boomers don't understand it, you cannot value it using any sort of traditional metrics, etc.) but the attack mentality against people who don't share their enthusiasm is truly something to behold. The crypto bros are some of the most obnoxious people I've ever come across on the internet.

It's hilarious because if you think you are truly on to something that others don't understand and are behind the curve on, isn't it in your interest to kind of keep it to yourself? Especially from a trading perspective.
 
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#9,050
#9,050
Well put. One thing that you learn from the morons is that people don't grasp what money is. What I mean by that is:
1. Human needs can only be met by work. This is most clearly illustrated by food, because food is clearly only by work and you don't live long if you stop eating.
2. Money is only useful as a means of measuring work. You can't use money if nobody will work for it.

You can't pay the river and the sun and the sky. You can only pay people, and it turns out if people don't work, you'll starve quick.

It doesn't matter how money is denominated. It matters that people will work for it. It doesn't seem like this is common knowledge, somehow.

P.S. I thought it was comical that they banned it on WSB. In WSB they'll ban you if you don't drink your own pee and post video. But by golly Bitcoin was just too vile.
 
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