Discussion ***Official*** 2020 Stock Market Thread

[paperfist]

I am eyeing XOm, but if the price war continues, it might get even lower. On the other hand, AMD has dropped a bit as well. Between these two, its hard to decide.

I should get a different hobby. How can a company like MUSA (retail gas chains) be up when most are down in this segment?

 

[FelixDeCat]

Sometimes the best thing to do is nothing. Over the next few days we will get a clearer picture and hopefully calmer markets, for now at least.

 

[JEDI]

Someone lend me their crystal ball.

sorry mine's burned out after I used it earlier this year.
6 figure short in oil
6 figure switch from stocks to Bonds


♪ Printing mooooooooooooooonnnnnnnnnnnnnnneeeeeeeeeeeey... ♪

 

[JEDI]

I predict the market will keep getting worse with periods of dead cat bounces unless 1 of 3 things happen:
1) cure for the corona virus
2) almost everyone on Earth is infected thus not much more infections are possible
3) Saudi's stop their scorched earth oil tactic

oh, and dow is now down -2100 points (2pm). that's -8%!
oil down to $31.80

 

[paperfist]

sorry mine's burned out after I used it earlier this year.
6 figure short in oil
6 figure switch from stocks to Bonds


♪ Printing mooooooooooooooonnnnnnnnnnnnnnneeeeeeeeeeeey... ♪

lol niceee!

I sold everything, ie appl and of course it's going up now

 

[Svnla]

All the US financial indexes are down for now (2 p.m. central). Between 5-9% lower.

Big oil/gas stocks are tanking badly.

 

[FelixDeCat]

Bought some MRRL (2x REIT index) before the close. Not much just a nibble. Could go lower, so who knows.

I only trade cash, never margin so not worried about the price.

 

[JEDI]

oil opened at $32.5, closed at $31/barrel.
now after hours, oil is down to $30/barrel (-3%)
cant find any news why

 

[PlanetJosh]

Wonder if ai controlled electronic machine trading will get curtailed more than usual as a result of the turmoil. And if it did if that would cause trading functions in general to take too long to complete.

I don't think there's a bias programmed in ai trading but that's a messy topic. And it doesn't even have to be a political bias, just financial like creating or nudging huge ups and downs for some to take advantage of best times to buy/sell.

 

[brianmanahan]

i rebalanced my small cap value this afternoon because it was down %10 for the day

 

[IronWing]

Trump proposes to boost the market by further destabilizing Social Security, makes sense.

 

[woodman1999]

Well, the last few weeks have reset the old asset levels back to mid-August 2019 levels. I guess I am outperforming the market, but for the love of god it still doesn't feel great.

I know people are digging for liquidity anywhere they can find it, but does anyone have any thoughts on buying physical gold right now? I know there was some discussion a few pages back, but considering it moved down again today, I am contemplating it more and more. I have a bit of powder in reserve, don't currently own any physical gold, and I am not buying more stocks at this point (including TSLA !)

 

[ponyo]

Well, the last few weeks have reset the old asset levels back to mid-August 2019 levels. I guess I am outperforming the market, but for the love of god it still doesn't feel great.

I know people are digging for liquidity anywhere they can find it, but does anyone have any thoughts on buying physical gold right now? I know there was some discussion a few pages back, but considering it moved down again today, I am contemplating it more and more. I have a bit of powder in reserve, don't currently own any physical gold, and I am not buying more stocks at this point (including TSLA !)

I'm probably going to sell most of my gold soon. I haven't bought any in over a year. Majority of my gold was purchased under $1,200. I'm going to use the money to buy more TSLA.

 

[FelixDeCat]

Looks like a dead cat bounce in the morning. I am becoming more skeptical of these bounces.

 

[woodman1999]

I'm probably going to sell most of my gold soon. I haven't bought any in over a year. Majority of my gold was purchased under $1,200. I'm going to use the money to buy more TSLA.

You and your TSLA! (Not arguing your thesis as I own some too, just not sure I can handle the concentration levels) I wish I had had the foresight to buy it back at 1200, but sadly that wasnt the case. I am still thinking that I may not be a bad thing just to hold on to a few physical pieces, even at this elevated price.

 

[ponyo]

You and your TSLA! (Not arguing your thesis as I own some too, just not sure I can handle the concentration levels) I wish I had had the foresight to buy it back at 1200, but sadly that wasnt the case. I am still thinking that I may not be a bad thing just to hold on to a few physical pieces, even at this elevated price.

You gotta figure out why you want to buy gold. Personally, the more stocks fall, the less attractive gold becomes for me. I bought gold as insurance for my stupidity in case I screwed up. I should really keep it because I'm still stupid and prone to errors. But if stocks continue to fall and gold continue to go up, it just makes sense for me to take the opposite side of the trade and swap assets.

That said, I won't sell all my gold. There are some pieces I have I really enjoy and will keep regardless of gold spot price. That's the problem with physical gold. You can become attached to certain pieces. Physical gold is very addictive. Once you buy one, it might be hard to stop. Hoarders have to be very careful.

 

[[DHT]Osiris]

Apparently everyone didn't get the message that stocks were supposed to rebound today.

 

[IronWing]

Happy days are here again!

Hmm, a cat just dropped past my window. Wonder what's up with that?

 

[s0me0nesmind1]

Looks like a dead cat bounce in the morning. I am becoming more skeptical of these bounces.

It looks like just a constant cycle of more down than up... I honestly think we will see this consistently over the next 2 months.

Every day it's going to be "Coronavirus does x" , then the next day it's "Oh, it's not THAT bad".... but the overall trend will be down the whole time.

 

[Svnla]

To those that have physical gold, where did you buy them and what format (coins, bars, nuggets, etc.)? I am thinking get me one or two pieces, just for kick.

 

[FelixDeCat]

To those that have physical gold, where did you buy them and what format (coins, bars, nuggets, etc.)? I am thinking get me one or two pieces, just for kick.

Ebay. Only buy from the biggest bullion sellers with a stellar rep. Sometimes they have sales where you can buy $20 over spot. If you use PayPal you can get zero percent financing. Ive bought almost 30 ounces since 2015 off Ebay.

The usual bid/ask for gold is $50 over or under spot depending on what you are selling or buying. The most desired coin from local bullion shops are American Eagles as that is what people usually want when they come in to buy, but any gold coin will do.

 

[zinfamous]

To those that have physical gold, where did you buy them and what format (coins, bars, nuggets, etc.)? I am thinking get me one or two pieces, just for kick.

hah! the only person around here that I can think would have gold ingots would be madoka, and not then, either, because it's that many less LEGO heads that he could stock.

can you even get nuggets? I think all nuggets go through brokers/industry and are only ever sold after being refined.

 

[dasherHampton]

Well, to anyone who was brave enough to buy the dip congratulations are in order, I guess.

 

[dasherHampton]

Anyone with half a brain has been preaching this for decades: Oil is volatile.

lol no shit oil is volatile. I was talking about oil being relatively safe for the next two decades despite its volatility in terms of worldwide consumption trends.

 

[ponyo]

hah! the only person around here that I can think would have gold ingots would be madoka, and not then, either, because it's that many less LEGO heads that he could stock.

can you even get nuggets? I think all nuggets go through brokers/industry and are only ever sold after being refined.

You can buy gold nuggets but I would never buy one because 1) premium is usually too high 2) it's too hard to verify and prove the purity and it's not fake. So your resell market is very limited.

I double check every gold coin I buy with Sigma Precious Metal Verifier. And I only buy from the big guys like Apmex and BPM so I 100% know I'm getting the real deal even without checking. Gold nugget is impossible to check for fake with Sigma so it's automatic no purchase for me.