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.