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Stock Market Era |OT2| Taking SPY private at $420. Funding secured.

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MrBob

MrBob

Member
Oct 25, 2017
6,670
Xando said:
If oil starts to pick up will be interesting to watch industrials
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Yeah I have some ULTA beauty stock I added on the dip last week, that's up today too. Stor Capital up again too right now after jumping the 200 day moving average by on penny. I'm trying to diversify away right now from momentum growth stocks (I still have some, but not as much) until wall street decides they want to pump growth again.
 

metalfearsolid

Member
Oct 27, 2017
6,531
lasthope106 said:
The market overheated in the span of 3 months. I don't know why anyone would think that was sustainable specially when the country and the employment is like it is. I think this should keep going down to the levels we saw a few months ago, if not more.
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But why now.. the spin should have been US added jobs and unemployment down
 
MrBob

MrBob

Member
Oct 25, 2017
6,670
signal said:
Simon Property up a bit today.
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Yup, added that in the low 60s too. Looks like it might be trying to break out of a trading range.

metalfearsolid said:
But why now.. the spin should have been US added jobs and unemployment down
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This is a technical move down. A lot of stocks were way overheated on a technical level. I've been mentioning for awhile how stretched tech, software, and semis were.

Hedge funds coming into the market right now with new money are not going to be buying the overheated stocks. They will wait for them to come back down first.
 
Xando

Xando

Member
Oct 28, 2017
27,360
Nasdaq volatility up to highest level since april/march.

EhE60pKXgAcIHP5.png
 

Deleted member 70788

Jun 2, 2020
9,620
I shuffled some money. I cashed out some of my TSLA that I bought at $200, but bought close to the same in a tax free IRA. I still think it's a good long-term gain, but wanted to help myself to a few things with a short term profit in my cash account.

Still got a bucket of cash waiting for the Big Dipper.
 
Pandora012

Pandora012

Moderator
Oct 25, 2017
5,496
Man, so many bad signs for bulls this week. Multi year megaphone hit, oil seems to have decided to break down from that crazy tightened wedge, tech has a whole way down to go, and finance can't even break out like it needs too.
 
MrBob

MrBob

Member
Oct 25, 2017
6,670
Sell off putting strain on everything again. The former high on the SP500 was 3394. We are almost back there. Let's see if we get a bounce at this level.
 
hrœrekr

hrœrekr

Attempted to circumvent ban with alt account
Banned
May 3, 2019
1,655
Do specialists agree on what was the catalyst this time?
 
lt519

lt519

Member
Oct 25, 2017
8,064
I'm actually kind of relieved to see this and the euphoria not continue. I want to feel comfortable putting more money back in, not be chasing melt ups. My account is where it was like 3 weeks ago, really not a big deal.
 
GulAtiCa

GulAtiCa

Community Resettler
Avenger
Oct 25, 2017
7,545
Sold out on a bunch of things, and placed a little bit more into Apple & Microsoft. Those are more long term stocks for me. Placed a few limit orders on Tesla if it keeps dropping.

My Roth is looking sad now, 10k shorter. But, it is essentially "even" of where it should have been if this was a normal year without all this crazyness. So, not getting worried just yet. Plus when Apple/Microsoft recovers in that account, it will help out too long term
 
smisk

smisk

Member
Oct 27, 2017
3,003
If some of the big tech stocks get down 15% I might do some buying. Or maybe QQQ down 10%
 

reKon

Member
Oct 25, 2017
13,742
If been focused on buying cheaper QQQ rather than total stock market fund. Someone tell me that I'm not being dumb please. I still think QQQ will perform better overall through this pandemic and then I will reallocate to total stock fund ...
 
hrœrekr

hrœrekr

Attempted to circumvent ban with alt account
Banned
May 3, 2019
1,655
lt519 said:
I'm actually kind of relieved to see this and the euphoria not continue. I want to feel comfortable putting more money back in, not be chasing melt ups. My account is where it was like 3 weeks ago, really not a big deal.
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That's a good point. After the NVidia presentation, I was super confident to invest in the company, but when I see the overprice I get scared of putting money in a bubble. Steady and solid growth is way more beneficial for everyone.
 
Xando

Xando

Member
Oct 28, 2017
27,360
reKon said:
If been focused on buying cheaper QQQ rather than total stock market fund. Someone tell me that I'm not being dumb please. I still think QQQ will perform better overall through this pandemic and then I will reallocate to total stock fund ...
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I still like tech but i think it got ahead of itself a bit. I think we'll see tech going sideways for some time to get the rest to close the gap a bit
 

Deleted member 70788

Jun 2, 2020
9,620
Like I said, I have a long term forecast for TSLA, but I used some of my cash stockpile in an IRA account to hedge the long term outlook and cashed out my "fun money" TSLA. A few home repairs and other things I wanted to do and taking a 500% profit was just too much to turn away in the short term.

Really expecting a hard hit to come once winter and the election settle, until a vaccine or better leadership rights this ship, we're headed for an iceberg.
 
kiguel182

kiguel182

Member
Oct 31, 2017
9,442
hrœrekr said:
That's a good point. After the NVidia presentation, I was super confident to invest in the company, but when I see the overprice I get scared of putting money in a bubble. Steady and solid growth is way more beneficial for everyone.
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Honestly, same.

As someone who is new to the market I don't want to see things be outside of reality. Rather bring it down now that continue the dumb bubble.
 
Tom Penny

Tom Penny

Member
Oct 26, 2017
19,252
FTF said:
Holy shit today is going to be worse than yesterday!
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Yep. I'm adding to what I already have. More Apple again today. My cost basis is so low it's not going to make a huge difference. A 20% dip in a few days. I'm iffy on Nvidia but its the same type of drop. Tesla can eat a bag of dicks 👀
 
GYODX

GYODX

Member
Oct 27, 2017
7,245
lt519 said:
I'm actually kind of relieved to see this and the euphoria not continue. I want to feel comfortable putting more money back in, not be chasing melt ups. My account is where it was like 3 weeks ago, really not a big deal.
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Agreed. The greater the overstretch, the more painful the inevitable correction would have been. Rather it happen now than later.
 
kiguel182

kiguel182

Member
Oct 31, 2017
9,442
This is really a lesson in having some money on my brokerage account just in case things dip.
 
prophetvx

prophetvx

Member
Nov 28, 2017
5,336
I've had to block notifications from my broker today, chrome is popping up traded at high volume or down over 10% every minute on different stocks.

This is going to get real ugly leading into a long weekend, how that affects sentiment leading into next week could get real interesting.
 
FTF

FTF

Member
Oct 28, 2017
28,431
New York
Tom Penny said:
Yep. I'm adding to what I already have. More Apple again today. My cost basis is so low it's not going to make a huge difference. A 20% dip in a few days. I'm iffy on Nvidia but its the same type of drop. Tesla can eat a bag of dicks 👀
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Everything is killing me. Netflix, Amazon, Apple, Tesla you name it lol. I mean I was also in them for the long haul and years, etc. and they're all prob where they should have been now with normal growth, it just sucks to see.
 
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