Stock market on fire

The Heretic · May 21, 2021

Provincial said:
But the Government says "don't worry about inflation!"

I don't worry about one month's inflation numbers whether the gov says to or not. For one thing, economic numbers are often corrected later based on more and better data, for another, one month is way too short a period to indicate a general trend. It is more of a blip. Noise happens - you have to look at the longer term trends.

RicInOR · May 21, 2021

ma96782 said:
You just knew it was gonna happen. Especially since today McDonald's (next door) is paying $15 to start.

MSN

www.msn.com

Aloha, Mark

What does this tell you? That BoA is going away from Tellers and traditional branches. You'll get a more trained connection, but you will have to wait for service.

Use the ATM / the Mobile App etc.

Or, Pay to see the teller - - ie pay more at Full Serve gas pumps.

BrentN · May 21, 2021

In 4 years $25 may spend like $15 does now. Is Joe gonna be able to kick that inflation can down the road?

sobo · May 21, 2021

BrentN said:
In 4 years $25 may spend like $15 does now. Is Joe gonna be able to kick that inflation can down the road?

Joe ain't gonna be kickin' *that* can in four years. More like a bucket...

arakboss · May 21, 2021

I think I invested in the wrong companies (except my Ford stock is doing well):

Covid vaccine profits mint 9 new pharma billionaires

Covid-19 vaccines have created at least nine new billionaires after shares in companies producing the shots soared.

www.cnn.com

The Heretic · Jun 2, 2021

Reached a new high in my investments yesterday.

Financial guy called. Expects to see current trend for next 12 months.

Mikej · Jun 2, 2021

The Heretic said:
Reached a new high in my investments yesterday.

Financial guy called. Expects to see current trend for next 12 months.

Of course he does. Until The biden does something stoopid and it tanks 20%. Then it's "We were expecting a correction" Or "A correction was due".

The Heretic · Jun 2, 2021

Mikej said:
Of course he does. Until The biden does something stoopid and it tanks 20%. Then it's "We were expecting a correction" Or "A correction was due".

There will be volatility - he was talking about general trends. I don't care too much about daily or weekly dips as I do not trade on that frequency - I let my investments ride. Even the downturn last year I have recovered from and then some (by quite a bit). I am up 10% YTD. I don't think that will continue; I think it will grow (overall) at a more "regular" pace of 5-10% (total for the rest of the year).

The other thing he was suggesting was next year moving to a lower risk profile. One of the things I will do is a backdoor conversion from my IRA to my Roth IRA each year (starting next year) - about 5-10% of my IRA to the Roth. The goal is to reduce tax exposure by moving while my income is lower, and to move into lower risk investments (my Roth has a 50/50 bond/stock profile). Also, over time, the Roth will grow due to contributions and the market, but withdrawals will be tax free because contributions are pot tax. Basically, any growth in the IRA will be moved yearly to the Roth. In 5-6 years I will need start RMDs from the IRA and 401K, but this way the RMDs will be smaller.

Mikej · Jun 2, 2021

The Heretic said:
There will be volatility - he was talking about general trends. I don't care too much about daily or weekly dips as I do not trade on that frequency - I let my investments ride. Even the downturn last year I have recovered from and then some (by quite a bit). I am up 10% YTD. I don't think that will continue; I think it will grow (overall) at a more "regular" pace of 5-10% (total for the rest of the year).

Yeah, I realize that. But I can not help the fear of something bubblegumty happening. And with the current administration we already have cost of living going up. And UP? We know they want to be the saviors of the poor, poor people in this country, so a tumbling economy would be perfect for them to step in and go full socialist. I probably don't know what I'm talking about. Just expecting the worse I guess. Still fresh in my mind watching the thousands of dollars a day disappear last year about this time.

The Heretic · Jun 18, 2021

Last week was good, this week not so good - but would be a good time to buy.

ma96782 · Jun 18, 2021

THE END IS NEAR?

What have we learned in 2,064 years?

"The budget should be balanced, the Treasury should be refilled, public debt should be reduced, the arrogance of officialdom should be tempered and controlled, and the assistance to foreign lands should be curtailed lest Rome become bankrupt. People must again learn to work, instead of living on public assistance."
- Cicero - 55 BC

Aloha, Mark

slimmer13 · Jun 18, 2021

ma96782 said:
THE END IS NEAR?

What have we learned in 2,064 years?

"The budget should be balanced, the Treasury should be refilled, public debt should be reduced, the arrogance of officialdom should be tempered and controlled, and the assistance to foreign lands should be curtailed lest Rome become bankrupt. People must again learn to work, instead of living on public assistance."
- Cicero - 55 BC

Aloha, Mark

That's a false quote, but I agree with the sentiment.

ma96782 · Jun 18, 2021

slimmer13....you are Correct.

Cicero on Government Budgeting

This quotation from Roman statesman Cicero about balancing the budget comes from a 1965 novel, not from history.

www.snopes.com

________________________________
________________________________

Well......do we believe ONLY "The Science" now?

Scientist Admits Downplaying Wuhan Lab Leak Theory Because President Trump Promoted It

A scientist who co-signed a letter in May calling for another investigation to determine the true origins of COVID-19 admitted that she and other scientists dismissed the Wuhan lab leak theory in 2020 because they did not want to be associated with former POTUS Donald Trump.

www.christianitydaily.com

Yeah.....I was labeled a conspiracy nut job for thinking that it might be possible. AND, the fact checkers had their day with it too.

Aloha, Mark

Mikej · Jun 18, 2021

Just realized the topic of this thread is perfect for whatever is going on! The last couple of daze? It's on fire all right, like a house fire!

The Heretic · Jun 18, 2021

Mikej said:
Just realized the topic of this thread is perfect for whatever is going on! The last couple of daze? It's on fire all right, like a house fire!

Not a dumpster fire though.

My fund value went down by about $10K. *shrug* - that is volatility for you. Fortunately I don't need to pull any $ from my funds, I can let it ride. It will come back - sooner or later.

USMC1911 · Jun 19, 2021

I love the volatility! Made a pretty good amount on SPY daily scalps and hit it out the park with Amazon options. SPY was pretty reliable to read and Amazon played like clockwork. Traded Amazon options several times a day. Sell the morning pop then buy back in. Looking forward got about a half position of Tesla $700 call options for September and looking for a breakout as yesterday was the first weekly close over $610 in months. Monday I will be looking for some Amazon $3600 calls. If this pace can continue along with my day job very comfortable retirement at 50 is well within reach. A lot can happen in six years though.

The Heretic · Jun 19, 2021

Yeah, I imagine this works well for "day traders", but I don't do that - all my retirement $ are in IRAs and a 401K

The Heretic · Jun 26, 2021

And back up to slightly above where I was for a record high (for me) two weeks ago. This week recouped what last week wiped out. I imagine the day traders/et. al. did well this week. Maybe in a year or so when things calm down for me (personal projects, etc.), I maybe take $10K or so and dive into trading to see if I can do something with it; the one thing that kind of bugs me about my retirement funds is the fact that I can't buy/sell quickly enough to make day trading work for me.

USMC1911 · Jun 26, 2021

The Heretic said:
And back up to slightly above where I was for a record high (for me) two weeks ago. This week recouped what last week wiped out. I imagine the day traders/et. al. did well this week. Maybe in a year or so when things calm down for me (personal projects, etc.), I maybe take $10K or so and dive into trading to see if I can do something with it; the one thing that kind of bugs me about my retirement funds is the fact that I can't buy/sell quickly enough to make day trading work for me.

I have always been intrested in the market even in high school. I have paid dearly for the education in trading to get me where I am. If I were to do it over again a service like Cobra trading or some other paid for chat room that has traders in it is money very well spent. Lot of people willing to share what they are doing so you can see first hand what is working and why. Really quit a lot into doing trades to be successful. You can also do a paper trading account just to see if its something you can do without the cash outlay.

To recap last week my Tesla options while not loaded with a full position was home run as was Amazon and my BABA calls I got into on Thursday. Got a full position of BABA calls I am still holding. Overall was one of my best weeks yet and made an absolute boatload.