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

[njdevilsfan87]

NUGT represents miners not gold itself. Also gold has been falling with all other asset classes unexpectedly. Probably opportunistic short sellers, but dont ask me to explain the unexplainable.

Gold crashed pretty hard in the 08 crisis too. Though it was the best follow-up investment for the next couple of years.

 

[Mai72]

Stock market is crashing hard. My brother was smart and pulled his 401k out before the crash.
It's sitting in the bank with vey low interest. But, at least it's safe.

 

[mohit9206]

Stock market is crashing hard. My brother was smart and pulled his 401k out before the crash.
It's sitting in the bank with vey low interest. But, at least it's safe.

Hmm I'm not sure if that would be called smart, more like lucky.

 

[Mai72]

Hmm I'm not sure if that would be called smart, more like lucky.

Probably. My dad told me he pulled his 401k. I haven't talked to my brother so I don't know exactly what happened.
He might had lost some money and probably got freaked out.

 

[JEDI]

circuit breaker tripped altho my stocker ticker says s&p only down 6.75%, not the 7% requirement?

oil now $21.95/barrel!
teens, here we come!

 

[FelixDeCat]

I see market holidays (no trading) on the horizon or shortened trading hours to stem the crash.

 

[jpiniero]

I see market holidays (no trading) on the horizon or shortened trading hours to stem the crash.

I don't see how that would help, it would only add to the panic.

 

[ultimatebob]

OK, OK... TSLA finally got cheap enough for me to buy in. Time to save the world, Elon!

 

[ponyo]

They need to keep Trump face off TV. Every time I see that idiot holding press conference during the trading day, I want to puke and sell everything. It's like when you have zero confidence in the company CEO. Unfortunately, we're stuck with Trump til the election.

 

[JEDI]

oil near $20/barrel.
psychological support level: $20 because round #

if breached, next support level is $17 from 2002 (18yrs ago)!

also, dow below 19k briefly!

 

[brianmanahan]

if breached, next support level is $17 from 2002 (18yrs ago)!

we might be seeing 2002 stock prices here pretty soon

i just hope to stay employed and keep buying

 

[KB]

Stock market is crashing hard. My brother was smart and pulled his 401k out before the crash.
It's sitting in the bank with vey low interest. But, at least it's safe.

If he truly pulled it and paid the 10% early withdraw penalty, thats not so smart.

Now he just needs to figure out when to get back in. Thats the hard part.

 

[FelixDeCat]

If he truly pulled it and paid the 10% early withdraw penalty, thats not so smart.

Now he just needs to figure out when to get back in. Thats the hard part.

He probably meant sold all stock funds and moved to money markets within the same account. Everyone does that.

Ive been in 90-100% bonds since 2018. Those too have taken a hit since they are junk bond funds paying 6% for institutional investors. Its fallen about 9% since this started and Im adding more with each paycheck.

If things look like they are turning around I may take half and go back into big cap tech like Goldman Sachs Equity Insights.

For now all stocks are toxic unless you are averaging in for the long haul.

 

[jpiniero]

They need to keep Trump face off TV. Every time I see that idiot holding press conference during the trading day, I want to puke and sell everything. It's like when you have zero confidence in the company CEO. Unfortunately, we're stuck with Trump til the election.

I think it's because every time he talks he has bad news. Plus he keeps walking back how long they think it's going to take.

 

[ponyo]

Sold May 15 $350 TSLA put for $78.50. Going to keep layering in.

 

[ponyo]

I think it's because every time he talks he has bad news. Plus he keeps walking back how long they think it's going to take.

It's not that he has bad news. Everyone knows the news is bad. But he's providing zero leadership. All he does is belittle, name calls, and blame others for the mess. People want leadership. I've been kind of impressed with what I've seen from Andrew Cuomo. We need someone like him in charge right now instead of Trump.

 

[JEDI]

was going to buy tqqq (leveraged long qqq) at closing and sell tomorrow when the Cat Bounces, maybe at +15% and make a quick buck.

but it shot up like nuts in the last 5 min.

 

[cytg111]

Yall got stones of iron playing that dead cat. I AM NOT TOUCHING.

 

[JEDI]

Yall got stones of iron playing that dead cat. I AM NOT TOUCHING.

im just going by past history this month.
everytime there's a 4 digit dow drop, there's at least a 5% gain at open the next day.

5% x 3 = 15%. sell tqqq at 9:35am for a quick buck.
but it shot up like 10% in the last few min of trading today, making tomorrows profit play too risky for my taste.

and overall, I see this for the rest of the month:

 

[vi edit]

Due to some completely lucky timing on my part both my wife and I are sitting on almost 100% cash for our retirement. I'm seriously looking at putting in a big buy on a 3x oil ETF and riding that for a bit. Demand will be low for a bit, but it will eventually bounce back.

 

[s0me0nesmind1]

Due to some completely lucky timing on my part both my wife and I are sitting on almost 100% cash for our retirement. I'm seriously looking at putting in a big buy on a 3x oil ETF and riding that for a bit. Demand will be low for a bit, but it will eventually bounce back.

Wut?

Why O&G? While it will inevitably rise a bit further - the general stock market will rise FAR sooner IMO.

Might just be my opinion though, I would shoot for an S&P Index after it drops further over the course of the next month or so over O&G.

They are hurting from a gluttony of supply - AND people aren't traveling. There is going to be EPIC levels of storage for YEARS.

Maybe hedge your bets and do a bit of both? Or others here can chime in and say I'm totally wrong.

 

[vi edit]

Wut?

Why O&G? While it will inevitably rise a bit further - the general stock market will rise FAR sooner IMO.

Might just be my opinion though, I would shoot for an S&P Index after it drops further over the course of the next month or so over O&G.

They are hurting from a gluttony of supply - AND people aren't traveling. There is going to be EPIC levels of storage for YEARS.

Maybe hedge your bets and do a bit of both? Or others here can chime in and say I'm totally wrong.

I'd be putting about 10% of cash into oil as a 6-12 month play. Sitting out on S&P for a bit longer. Oil is at almost an 18 year low.

 

[ponyo]

Due to some completely lucky timing on my part both my wife and I are sitting on almost 100% cash for our retirement. I'm seriously looking at putting in a big buy on a 3x oil ETF and riding that for a bit. Demand will be low for a bit, but it will eventually bounce back.

I like the idea but not using leverage ETF. There's a guy on WSB who did something similar after the 08 housing crash. He bought $100k 3x financials and $70k 3x S&P in 2010. He held for 10 years and it became $1.5 million.
https://www.marketwatch.com/story/m...-quite-ready-to-sell-2019-11-20?mod=home-page

I know he sold half of his 3x financials at the end of 2019 for $350k. The rest he said he placed tight stops so I assume he sold before this crazy decline.

But I'm not fan of 3x or even 2x leveraged ETFs. Even though it worked out for that guy, leveraged ETF is more short term trade instrument rather than long term hold.

 

[snoopdoug1]

I'd be putting about 10% of cash into oil as a 6-12 month play. Sitting out on S&P for a bit longer. Oil is at almost an 18 year low.

what's the best vehicle to invest in crude? USO?

 

[FelixDeCat]

Due to some completely lucky timing on my part both my wife and I are sitting on almost 100% cash for our retirement. I'm seriously looking at putting in a big buy on a 3x oil ETF and riding that for a bit. Demand will be low for a bit, but it will eventually bounce back.

Unless you intend to daytrade, I beg you on bended knee, stay away from Oil and Gas. So many, many people have gone broke trying to call the bottom since 2015. If you are VERY lucky you might be able to buy just before a small tradable bounce which you can sell into. But O&G is no long term hold. Sure there was a nice recovery from 2016-2017 and oil went from $27 to $60+, but several companies went bankrupt.

Assuming Putin flys to Riyad and kiss the ring (and ass) of MBS in order to persuade him to stop dumping oil and Russia also stops, you still have a global economic slowdown, which AT ITS PEAK was still not generating enough demand to get beyond a market glut to begin with because of Americas formidable production prowess. We will see lots of bankruptcy filings this time around too.

While Trump made token gesture to buy oil for the SPR, it wont make much difference.

Better to use that money to ease into the S&P as it goes lower and lower. Otherwise just buy 100 shares of XOM and call it a day.