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Misc Stock Market

KyloG said:
I think we are in the panic stage…my neighbor mentioned moving to cash when I talked to him this weekend. I don’t think he is going to but he is thinking about it…

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I'm at the "the market is rigged to the point where the average person cannot survive so I'm buying physical metals for when the market completely collapses" stage.
 
KyloG said:
That’s the sentiment from everyone…clearly getting close to the capitulation stage.
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That's funny...I keep hearing don't worry about it. I'll come back soon.

Honestly, I think it's more worrisome that the market is declining not based on some exogenous event. The monstrous, unabating rally we've had since the GFC has been fueled by an absurd risk-taking mentality based on froth and excess liquidity because the Fed has been in emergency monetarily policy mode this whole time. That is reversing. I believe that is going to be a major headwind to risk-on for the foreseeable future. I don't expect to go straight down to 1000 or lower on the S&P, but a multi-month bear market wouldn't be surprising at all. Historically speaking, it is long overdue.
 
Rain Cold said:
That's funny...I keep hearing don't worry about it. I'll come back soon.

Honestly, I think it's more worrisome that the market is declining not based on some exogenous event. The monstrous, unabating rally we've had since the GFC has been fueled by an absurd risk-taking mentality based on froth and excess liquidity because the Fed has been in emergency monetarily policy mode this whole time. That is reversing. I believe that is going to be a major headwind to risk-on for the foreseeable future. I don't expect to go straight down to 1000 or lower on the S&P, but a multi-month bear market wouldn't be surprising at all. Historically speaking, it is long overdue.
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Agreed. I think we still start seeing some basing soon. Let’s say the markets drop another 10%…that would be almost 40% for Q’s and 27% for S&P.

I think the Fed hikes to 2% and then says they are done.
 
I also just rebalanced my current 401k to 100% tech fund. I was in a nice balanced fund of tech/SPX/value. This one I haven’t ever touched, it’s the one for my current job I have been with 4 years.
 
SPY below $400, QQQ below $300, another day of SPY -3%, Bitcoin on the precipice of $30k. All is well. ?
 
This don’t sound good…it was coming but didn’t think it would be this fast. Full on QE tantrum now…it was a drug and our markets need to figure out how to function without. A start might be giving up paying $50m for a jpeg.

 
Bought 30 Boeing shares in my Roth last month. Guess I'm just going to baghold this to $0.
 
Jimmy Hypocracy said:
Bitcoin ? ?
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Maybe I'm a boomer but I still can't wrap my head around bitcoin and all these other shitcoins. They have no practical purpose except buying drugs off the dark web. It just seems like people chasing a made up asset that in the end is worth zero. It's similar to stocks, but those pay dividends or have some value tied back to a company that generates income (most of the time).

This reminds me I forgot to pay taxes on the couple hundred dollars I made on doggy coin last year. Guess I'm going to jail.
 
Broken024 said:
Maybe I'm a boomer but I still can't wrap my head around bitcoin and all these other shitcoins. They have no practical purpose except buying drugs off the dark web. It just seems like people chasing a made up asset that in the end is worth zero. It's similar to stocks, but those pay dividends or have some value tied back to a company that generates income (most of the time).

This reminds me I forgot to pay taxes on the couple hundred dollars I made on doggy coin last year. Guess I'm going to jail.
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Paying taxes on crypto gains is a nightmare. Luckily I made $3k last year on doodoo coins then lost it right back right before the tax year ended. #blessed ?
 
Jimmy Hypocracy said:
Paying taxes on crypto gains is a nightmare. Luckily I made $3k last year on doodoo coins then lost it right back right before the tax year ended. #blessed ?
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My taxes were approved so hopefully it just never comes up. Maybe the amount was immaterial and not worth chasing.
 
Broken024 said:
Maybe I'm a boomer but I still can't wrap my head around bitcoin and all these other shitcoins. They have no practical purpose except buying drugs off the dark web. It just seems like people chasing a made up asset that in the end is worth zero. It's similar to stocks, but those pay dividends or have some value tied back to a company that generates income (most of the time).

This reminds me I forgot to pay taxes on the couple hundred dollars I made on doggy coin last year. Guess I'm going to jail.
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It's an imaginary asset that pretends to be a currency but is designed for speculation.
 
Rain Cold said:
It's an imaginary asset that pretends to be a currency but is designed for speculation.
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Yea that's really all I see it as. People will make money on the speculation, but others are going to be left with a pile of ---- in the end. Maybe we're wrong but in 5 years or so I think we will all look back and laugh at this (except the people holding the bag of ----).
 
Broken024 said:
Yea that's really all I see it as. People will make money on the speculation, but others are going to be left with a pile of ---- in the end. Maybe we're wrong but in 5 years or so I think we will all look back and laugh at this (except the people holding the bag of ----).
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Yeah agree. I think there will be one or two that make it, sort of like the dot com era.
 
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Jimmy Hypocracy said:
Paying taxes on crypto gains is a nightmare. Luckily I made $3k last year on doodoo coins then lost it right back right before the tax year ended. #blessed ?
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Broken024 said:
My taxes were approved so hopefully it just never comes up. Maybe the amount was immaterial and not worth chasing.
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You mean you've done your taxes? Dang. Yall ahead of the game.....lol. Seriously...I haven't done mine yet, but I'm owed some of the money they stole out of my checks every year, so it's not a problem. I just gotta finish them. And yes, I know they're getting a free loan. It's my fault I haven't finished them.
 
Gopack42 said:
You mean you've done your taxes? Dang. Yall ahead of the game.....lol. Seriously...I haven't done mine yet, but I'm owed some of the money they stole out of my checks every year, so it's not a problem. I just gotta finish them. And yes, I know they're getting a free loan. It's my fault I haven't finished them.
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Ok you little rebel
 
Broken024 said:
Maybe I'm a boomer but I still can't wrap my head around bitcoin and all these other shitcoins. They have no practical purpose except buying drugs off the dark web. It just seems like people chasing a made up asset that in the end is worth zero. It's similar to stocks, but those pay dividends or have some value tied back to a company that generates income (most of the time).

This reminds me I forgot to pay taxes on the couple hundred dollars I made on doggy coin last year. Guess I'm going to jail.
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Crypto can be like OTC stocks in a way. Not all are made to be used as a currency. You can own part of a company. The reflection ones pay like dividends. But, you are on the right path of thinking. 95% of them are a rip off.
 
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