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Thread: Stocks

  1. #281
    Anyone jumping out a window...? Ha ha.

    Funny...I keep scrolling back to see how far back the plunge takes us. November is all. Crazy how much the dow was gaining last year. That was a long upward ride.

    Lets hope for slow and steady up up up....(please)...

    The analysis of the why's will be interesting in the next couple of weeks...

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  3. #282
    Quote Originally Posted by oldno7 View Post
    Looking like Rock is Right!!
    Yeah I've been burned by this pattern of ups and downs in the market before. Several years ago I used to day trade a lot so I tracked daily movements in the markets religiously.

    One thing I learned was - if the market trades choppy all of the sudden it's a prelude to a pretty decent correction - the bears are at the door!
    !!!CORONAVIRUS PSA!!!

    • Toilet paper won't save you from Covid-19.

  4. #283
    Quote Originally Posted by Brian in SLC View Post
    Anyone jumping out a window...? Ha ha.

    Funny...I keep scrolling back to see how far back the plunge takes us. November is all. Crazy how much the dow was gaining last year. That was a long upward ride.
    Stocks are still up over 50% from where they were on this date in 2016, which also happens to be the last market correction. That's still about $8 trillion in wealth created.

    The market would have to drop an additional 10% to be considered bear territory.

  5. #284
    Bogley BigShot oldno7's Avatar
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    I'm going with lots of upside from here.
    I'm not Spartacus


    It'll come back.


    Professional Mangler of Grammar

    Guns don't kill people--Static Ropes Do!!

    Who Is John Galt?

  6. #285
    Quote Originally Posted by oldno7 View Post
    I'm going with lots of upside from here.
    I think you're right for the most part. It might trend down slightly to start the week, but by closing bell on Friday I expect a fairly substantial rally to recover last week's losses.
    !!!CORONAVIRUS PSA!!!

    • Toilet paper won't save you from Covid-19.

  7. #286
    Well, today was a good day.

  8. #287
    Bogley BigShot oldno7's Avatar
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    looks like we might open with a 200 pt +/- drop this morning
    I'm not Spartacus


    It'll come back.


    Professional Mangler of Grammar

    Guns don't kill people--Static Ropes Do!!

    Who Is John Galt?

  9. #288
    Dow is crawling its way back...nice and slow...easy does it...

    Whew. My 401ks are back in positive ground for the year. Back to 5 Feb levels. (But not 1 Feb).

    I probably should quit watching it everyday...

  10. #289
    Bogley BigShot oldno7's Avatar
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    MJ stocks are ruling the market.

    I have earnings on my biggest one coming up in March.

    I'm going to hold into earnings as I believe this market has just begun to grow.

    Prospect of legalization in Canada in or around July will be HUGE.
    I'm not Spartacus


    It'll come back.


    Professional Mangler of Grammar

    Guns don't kill people--Static Ropes Do!!

    Who Is John Galt?

  11. #290
    Quote Originally Posted by oldno7 View Post
    Prospect of legalization in Canada in or around July will be HUGE.
    I'd be shocked if it's not legal everywhere in 10 years. Even in Utah. The tide has turned, and to deny overwhelming support for it would be foolish. At some point the feds will have to relent. I mean for crying out loud it's legal recreationally in D.C.- our nation's capitol.
    !!!CORONAVIRUS PSA!!!

    • Toilet paper won't save you from Covid-19.

  12. #291
    Bogley BigShot oldno7's Avatar
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    Quote Originally Posted by rockgremlin View Post
    I'd be shocked if it's not legal everywhere in 10 years. Even in Utah. The tide has turned, and to deny overwhelming support for it would be foolish. At some point the feds will have to relent. I mean for crying out loud it's legal recreationally in D.C.- our nation's capitol.
    I've looked into US mj stocks and even successfully traded some.

    They are far behind Canada as far as value and volatility.

    Having said that, there is WAY more potential in US mj stocks than the Canadian's due only to market size.

    I keep looking for the US leader in this category and I don't see one as of yet.

    I've had 70-80% gains in Canadian stocks, the right US ones will be far more than that, IMO.
    I'm not Spartacus


    It'll come back.


    Professional Mangler of Grammar

    Guns don't kill people--Static Ropes Do!!

    Who Is John Galt?

  13. #292
    Hey. I don't know if you guys are familiar with the "Robin Hood" app but it allows for fee less stock trading and eventually there will be fee-less crypto trading as well.

    If you sign up using my link, we will both get 1 free stock:
    https://share.robinhood.com/danb377
    "My heart shall cry out for Moab..." Isaiah 15:5

  14. #293
    Quote Originally Posted by DiscGo View Post
    Hey. I don't know if you guys are familiar with the "Robin Hood" app but it allows for fee less stock trading and eventually there will be fee-less crypto trading as well.

    If you sign up using my link, we will both get 1 free stock:
    https://share.robinhood.com/danb377

    So you can day trade for free?

    How the heck is that possible? TD charges like ~ $7 bucks per trade...and it used to be $10. Got to the point where I stopped trading altogether cuz TD was just juicing me. Bastards.
    !!!CORONAVIRUS PSA!!!

    • Toilet paper won't save you from Covid-19.

  15. #294
    The Federal Reserve did a good job of torpedoing the stock market today :-(

  16. #295
    And it's coming back already. Keeping interest rates at or near 0 like they have done for the last 10 years can't work forever, so interest rates have to rise sometime.

  17. #296
    Quote Originally Posted by devo_stevo View Post
    Keeping interest rates at or near 0 like they have done for the last 10 years can't work forever, so interest rates have to rise sometime.
    Maybe so, but the only ones who are benefiting from the increase are the banks and money lenders. Everyone else loses (even if you don't have debt).

    I have also noticed now that interest rates have risen for loans, paid interest hasn't really risen with it.

    Since there are a lot of Utahns here, checking the website Zions Bank for example, says they pay 0.06% interest on savings accounts and 0.02% on checking accounts. It's almost nothing, but still better than the 0% they pay here. Of course if you want to borrow money, the are very happy to charge you a higher interest rate (which is why I hate debt and try to avoid it).

  18. #297
    Bogley BigShot oldno7's Avatar
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    We all pay for low interest rates through inflation, much less recognizable to some but most notable.

    EVERYTHING costs more when interest rates are low.=inflation

    central banks manipulate short-term interest rates to affect the rate of inflation in the economy


    I'm not Spartacus


    It'll come back.


    Professional Mangler of Grammar

    Guns don't kill people--Static Ropes Do!!

    Who Is John Galt?

  19. #298
    Bogley BigShot oldno7's Avatar
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    I bought into GE today at 14.155

    I've been wanting to buy GE for a long time, was just waiting for the price to bottom.

    Having said that, I'm not certain it has bottomed but am in position to hold from this price point.
    I'm not Spartacus


    It'll come back.


    Professional Mangler of Grammar

    Guns don't kill people--Static Ropes Do!!

    Who Is John Galt?

  20. #299
    Quote Originally Posted by Scott P View Post
    Maybe so, but the only ones who are benefiting from the increase are the banks and money lenders. Everyone else loses (even if you don't have debt).

    I have also noticed now that interest rates have risen for loans, paid interest hasn't really risen with it.

    Since there are a lot of Utahns here, checking the website Zions Bank for example, says they pay 0.06% interest on savings accounts and 0.02% on checking accounts. It's almost nothing, but still better than the 0% they pay here. Of course if you want to borrow money, the are very happy to charge you a higher interest rate (which is why I hate debt and try to avoid it).
    I wholeheartedly agree on all points you make here. Interest rates that are paid on savings accounts are a joke and have been for a long time now.

    As for debt, I am convinced that the best way to stay broke is to give all your money to a bank to pay for something that you can't afford. So yes, it should be avoided as much as possible.

  21. #300
    I really believe in 2000 years when history looks back on this period in time credit will be seen as a form of slavery. What else can you really call it when the rich get richer by doing absolutely zero work and doing nothing but lending money to the poor.

    Or the other way I often look at it is people are not poor because they have no money, people are poor because they don't know how to manage money.

    YMMV

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