Stock Market

Lake_Bum

J3ff said:

And now we sink. Hold on to your ****s

Just remember, you don't lose if you don't SELL hahaha.  Crypto is a volatile market.  Always 

Lake_Bum

ETH is definitely not one you want to jump in and out and in and out of, due to higher gas fees.  But......with the spot ETF now live, it will most definitely be climbing up significantly!  Billions and billions are pouring into it now, from all the large 401K funds.  More cryptocurrencies are soon to come.  My best guess is Solana is next!  

J3ff

I was more referring to the regular stock market tech stocks 

Willhound

Still waiting.....against my better judgement I dropped a spare Thou into IBIT back in early April. It hit $1080, dropped to just over $900 and sitting at $1070 today.
If I'd put it into Proctor and Gamble, which I already have extensive holdings in, it would be $1085 today and earning a dividend. 
But it gives me something to watch every day I guess...😆

J3ff

I really hate when I'm correct and I don't do anything to take advantage of it. Sigh. 

J3ff

J3ff said:

I really hate when I'm correct and I don't do anything to take advantage of it. Sigh. 

Now I REALLY hate not listening to my gut. 

Lake_Bum

Almost buying season 

Willhound

From Yahoo Finance.
"Bitcoin just took a ride straight down. It dropped from $58,350 to $50,000 in hours.

The king of crypto's now standing at at $52,800. Not quite the recovery bulls might be hoping for, but hey, it's something.

This crash wasn't just a Bitcoin thing. It dragged the whole crypto market down with it. Ethereum? It dropped 18% before finding its footing at $2,304.

The messiest part?

Over $1.05 billion in leveraged positions got wiped out. Long positions took the biggest hit, with $901.42 million going up in smoke."

Soon as this dog gets even close to what I put in, I'm out. Smoke and mirrors.....

boatman37

My average on Bitcoin is $20,005. I didn't have much in but initially bought in at $13,000 then sold 1/2 when I was up about 150% so whats left is free money. I added back on that last dip so that raised my average

Lake_Bum

It's not smoke and mirrors.  What it IS, and always will be, is volatile.  Entry and exit points are more important during times like these, but I'm NEVER in a hurry.  It's a long term thing for me, although I have definitely taken some profits at times.  
I missed the "magic window" at about 4am today.  So I will wait until it goes down again, and it will.   
The crappy jobs report is what triggered all of this, both stocks, and crypto.  And the damage isn't done yet.  The FED is discussing an emergency rate cut potentially.  The economy is hanging on by a thread.  And the politicians are still touting "record stock market" hahahaha blah blah blah.  That's the smoke and mirror part. 

J3ff

Lake_Bum said:

It's not smoke and mirrors.  What it IS, and always will be, is volatile.  Entry and exit points are more important during times like these, but I'm NEVER in a hurry.  It's a long term thing for me, although I have definitely taken some profits at times.  
I missed the "magic window" at about 4am today.  So I will wait until it goes down again, and it will.   
The crappy jobs report is what triggered all of this, both stocks, and crypto.  And the damage isn't done yet.  The FED is discussing an emergency rate cut potentially.  The economy is hanging on by a thread.  And the politicians are still touting "record stock market" hahahaha blah blah blah.  That's the smoke and mirror part. 

Major catalyst was the Bank of Japan.. take a look at that. Hopefully it's over, likely not though. 

Dream_Inn

Wow, glad I added a lot more to my NIO holdings.  Finally a nice little turn around with earnings report today.  At the end of September they will have another quarter with record EV sales.  A new car (Onvo) that will be a competitor to Tesla in China with a better price and way more options is being sold this month!  Maybe I will be able to move up to my next boat after all

J3ff

Dream_Inn said:

Wow, glad I added a lot more to my NIO holdings.  Finally a nice little turn around with earnings report today.  At the end of September they will have another quarter with record EV sales.  A new car (Onvo) that will be a competitor to Tesla in China with a better price and way more options is being sold this month!  Maybe I will be able to move up to my next boat after all

Still got a little ways to go for me !!!  maybe I'll DCA after GME goes to the moon 

Willhound

Still waiting on this supposed crypto explosion. Looking more like an implosion. The $1000 I put into IBT in April is at $890 today and hasn't broken $1000 in months. My buddy that's heavy into it predicted $1500 by August.
Had I bought MFC, Manulife Financial, which I already hold in another portfolio it would now be at $1435 with dividends reinvested. Or a 14.35% return in 5 months.
I'm not complaining, I know better, and the $1000 can sit there, it was gambling money. But it drives home what is always been taught, put your serious money into blue chip dividend paying stocks with a proven record over the long term and it will invariably do very well.
Smoke and mirrors....

Dream_Inn

So, I agree partially with you willhound, but I’m not as thrilled about dividend stocks unless it’s in a tax free portfolio.  I got out of a lot of heavy dividend stocks, as I’m already tax heavy.  Yes, I know about long term and short term.  To tell you the truth, most individual stocks are gambling.

Willhound

@Dream_Inn you are correct, dividends can cause increased income tax in a non sheltered account and depending on your income. All of mine are in a tax sheltered RSP and pension account somewhat like your 401k's. And I have a healthy blend of financials, consumer disposables, manufacturing etc. as well as interest bearing bonds and some mutuals. The portfolio gets rebalanced semi-annually or as needed. I don't know about the US tax situation but in Canada dividends receive a more favourable tax rate than straight capital gains or interest such that depending on your income levels only 60 to 70 percent of dividend income is taxed.

Lake_Bum

Crypto isn't "smoke & mirrors" by any means.  It's made plenty of money for people, and taken some from plenty of others.  The same for the Stock Market.  My eggs aren't in one basket by a longshot.    

Dream_Inn

More movement to NIO again.  Glad I kept buying as it went down and now enjoying it go back to where it actually should be.  I believe it could easily double in the next 6 months.  Going to enjoy going to the Annapolis boat show this weekend, possibly admiring something new now, that I will be able to (hopefully) afford in 5+ years

J3ff

Dream_Inn said:

More movement to NIO again.  Glad I kept buying as it went down and now enjoying it go back to where it actually should be.  I believe it could easily double in the next 6 months.  Going to enjoy going to the Annapolis boat show this weekend, possibly admiring something new now, that I will be able to (hopefully) afford in 5+ years

Was thinking of you as I was browsing WallSteetBets (reddit) and they were all happy about NIO gains. 

Willhound

Just sold the Bitcoin. It rose today and we broke even. Tired of watching it and I'll put the money on an upcoming vacation. With my luck it'll double next week.....or drop like a stone.....
Greed is a horrible thing. Part of me wanted to ride it out, but I had said awhile back that if it came back up to even I'd sell, so I stuck to my plan. Right or wrong, got to have discipline.

aero3113

@Willhound , you can’t watch Bitcoin. You have to set it and forget it! 

Willhound

@aero3113, fair. And with the rest of my not insubstantial portfolio that is the case. I check it every 6 months or so and watch with glee as it steadfastly increases with the magic of compounding. My Bitcoin was in a side account I could check mostly because I don't understand it and don't trust it. I still see it as an artificially developed theory that has no basis in any market to back it up. OK, Gold only has value because we believe it is valuable. Apart from being pretty and having industry uses, it's basically just metal. But at least I can hold it in my hand. It could be argued that currency is an artificial invention, but it has a practical purpose in facilitating trade. Rather than dragging your herd of goats around, finding the goods you want, from a merchant that wants a goat, and then negotiating how many goats for how much product you could sell your goat on a market, take your small pouch of coins to town and buy what you want. You can hold a dollar bill.
With the rest of my investments I can see the value of a company, the products they produce, the market they serve, their basic financials etc. I know what Proctor and Gamble or Bank of Montreal are and basically how they operate. I can't "hold" a Bitcoin in my hand...it does not physically exist. It only exists in an electronic registry that I'm still not convinced isn't being manipulated by those that invented and control it. The advent of AI will only make it easier to manipulate. OK, AI trading might manipulate traditional markets, but at least there are fiduciary controls that monitor and set boundaries on trading. 
A long way of saying I am not a suitable investor for Bitcoin. I got caught up in the hype and the advice of some friends that play in Crypto. But the funny thing is, we go for a beer and they're on their phone every few minutes checking the value.....
I'm better off spending that money on a vacation, at lease I can see what I'm getting for my money.....

Lake_Bum

Bitcoin isn't one that you buy/sell/buy/sell.   It's a buy and hold.  And someday sell.  Crypto in general is very volatile, and is NOT for everyone.  
I took profits on some ApeCoin this morning.  It jumped 117% overnight.  That type of Altcoin is the type ya sell and re-buy.  Not BTC  

J3ff

Lake_Bum said:

Bitcoin isn't one that you buy/sell/buy/sell.   It's a buy and hold.  And someday sell.  Crypto in general is very volatile, and is NOT for everyone.  
I took profits on some ApeCoin this morning.  It jumped 117% overnight.  That type of Altcoin is the type ya sell and re-buy.  Not BTC  

Unless you can get 1000x and make 50 bucks on a bounce ?

Have been playing with this for a few days.. 

https://aark.digital/

Lake_Bum

1000x happens.  If it was that easy, we'd all be rolling in the dough 

J3ff

Finally starting to see the light at the end of the tunnel between what @boatman37 started when he taught me what futures are and how to trade them.. it's been a long time coming... how this works with this specific company is you have to have 5 days of making 200 or more and you can pull out half of your profit. Then the goal is to just do that as much as possible. Will be pulling out just about 900 today. Have had other small payouts, this one if the first one of this size. Not bad for six days of trading for an hour or two after 7pm laying on the couch watching tv...



Since this thread started, I've done okay in regular stocks and crypto as well... up 6k for the year in common stocks and 10ish in crypto.. but this futures thing is really amazing for what it is. Basically sit down at the end of the day, do a few trades, make a little $ and move on with your day till the next evening (at least that is what seems to work for me, most people trade the NY session, 930am to 4pm...I can't touch that one yet). Where else can you make $ like this just laying on the couch watching tv after dinner??

J3ff

..

J3ff

Lake_Bum said:

Bitcoin isn't one that you buy/sell/buy/sell.   It's a buy and hold.  And someday sell.  Crypto in general is very volatile, and is NOT for everyone.  
I took profits on some ApeCoin this morning.  It jumped 117% overnight.  That type of Altcoin is the type ya sell and re-buy.  Not BTC  

What color lambo are we looking at ??? 

aero3113

@Willhound , if you only held on for a couple more weeks! 

Willhound

Yep, hindsight is always 20/20. But no regrets. My meager stake might have netted me a couple hundred bucks, but I've been happier not having to watch it.