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

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Nov 8, 2012
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yeah, good luck with that, Elon. If he wants to align with the anti-business, anti-humanity party, then he's going to be in for a rude awakening.

He really needs to put down the blunt and, seriously, resign from any freaking board for the sake of his companies and employees.

lol if he thinks that he can threaten CA. Hell, moving to TX would actually be great--imagine the greater influx of talented, educated Democrat-voting employees that would drag into the state that is already on track to being irrecoverable by the GOP? CA would be completely fine without Elon, and in TX, would only do things to improve the USA.
Theres tons of amazing talent in TX already. People have been flocking here from CA and other HCOL areas consistently over the last decade+.

Oil & Gas is huge here, and if you think O&G doesn't involve tech you're sorely mistaken.

Cities here (Houston, San Antonio, Dallas, and Austin) are already blue - but Austin particular is our blue hipster bastard child that eats avocado toast from food trucks and wears skinny jeans.
 

zinfamous

No Lifer
Jul 12, 2006
100,462
14,485
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Theres tons of amazing talent in TX already. People have been flocking here from CA and other HCOL areas consistently over the last decade+.

Oil & Gas is huge here, and if you think O&G doesn't involve tech you're sorely mistaken.

Cities here (Houston, San Antonio, Dallas, and Austin) are already blue - but Austin particular is our blue hipster bastard child that eats avocado toast from food trucks and wears skinny jeans.
You think I already don't know this? My point is that Elon threatening to move to TX just accelerates the trend. :beermug:
 
Nov 8, 2012
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You think I already don't know this? My point is that Elon threatening to move to TX just accelerates the trend. :beermug:
Whatever, last I heard TX made an amendment to the state constution that says they can't impose a state income tax... so.... There is that limiting factor if it ever becomes a blue state :p

Worse comes to worse if they make it into the shithole that they came from I'll gladly move myself elsewhere.
 

zinfamous

No Lifer
Jul 12, 2006
100,462
14,485
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Whatever, last I heard TX made an amendment to the state constution that says they can't impose a state income tax... so.... There is that limiting factor if it ever becomes a blue state :p

Worse comes to worse if they make it into the shithole that they came from I'll gladly move myself elsewhere.
no big loss, I'm sure.... :D

So, TX already has no property tax, right, and so trying to make no income tax eternal? I wonder what the thought is for this--that their hilariously finite resource that is oil (which, in such economies, has only ever shown to have disastrous boom-bust cycles for that entire economy, regardless of your relation to the oil industry--Texas being no exception) will keep them forever solvent?

Good luck with that. Seems like they are trying to legislate pure retardation over their children's futures, which is pretty much SOP for every poor, federal welfare-dependent GOP state that sees itself running on its last legs. Shame, TX has the potential to be a decent place, you know?
 

FelixDeCat

Lifer
Aug 4, 2000
25,731
353
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no big loss, I'm sure.... :D

So, TX already has no property tax, right, and so trying to make no income tax eternal? I wonder what the thought is for this--that their hilariously finite resource that is oil (which, in such economies, has only ever shown to have disastrous boom-bust cycles for that entire economy, regardless of your relation to the oil industry--Texas being no exception) will keep them forever solvent?

Good luck with that. Seems like they are trying to legislate pure retardation over their children's futures, which is pretty much SOP for every poor, federal welfare-dependent GOP state that sees itself running on its last legs. Shame, TX has the potential to be a decent place, you know?
Dude, thanks for making me laugh.

No property tax? LOL!!!! Thats how we fund schools in TX. We have some of the highest property taxes.

We also have a responsible state government that has billions in excess cash squirreled away for a rainy day!

edit: We also dont hand out multi-million dollar pensions to individual police and firefighters either that taxpayers have to fund. If you want that much money - save it yourself!
 
Nov 8, 2012
15,375
2,538
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Dude, thanks for making me laugh.

No property tax? LOL!!!! Thats how we fund schools in TX. We have some of the highest property taxes.

We also have a responsible state government that has billions in excess cash squirreled away for a rainy day!
Truth.

We do infact have high property taxes. Personally I prefer that route - you at least have a choice and can say "Hey - I want to live in a low worth home". Unlike income taxes in which no one is going to say "Nah, I don't want that raise because I'll have to pay state tax on it".

The other taxes we have in TX would be a sales tax capped at 8.25% (6.25% for the state, and 2% left for cities/counties/districts to take) along with motor fuel taxes.

edit: We also dont hand out multi-million dollar pensions to individual police and firefighters either that taxpayers have to fund. If you want that much money - save it yourself!
Yeah - our state doesn't, but the cities do tehehe.



no big loss, I'm sure.... :D

So, TX already has no property tax, right, and so trying to make no income tax eternal? I wonder what the thought is for this--that their hilariously finite resource that is oil (which, in such economies, has only ever shown to have disastrous boom-bust cycles for that entire economy, regardless of your relation to the oil industry--Texas being no exception) will keep them forever solvent?

Good luck with that. Seems like they are trying to legislate pure retardation over their children's futures, which is pretty much SOP for every poor, federal welfare-dependent GOP state that sees itself running on its last legs. Shame, TX has the potential to be a decent place, you know?

Meh, I wouldn't cry. I don't go around waving flags like I'm somehow proud to be born somewhere. I will say that Texas seems to come from a past of doing things the right way from an economic perspective. I would be sad to see it turn to crap - but if thats what it is then thats what it is.

That's something that always makes me laugh my ass off by the way - especially when I see the likes of folks from South American countries proudly waving their flag. Your country was a shithole. Thats why you left it lol. But you're proud to be born somewhere? Okay bud, whatever makes you feel better I guess..

I mean, it's like someone who moves to Oklahoma but waves their Texas flag around everywhere. I've never seen such a thing.

Also, while parts of TX used to be heavily dependent on O&G (to the point of falling victim to boom/bust) that is simply no longer the case. Houston didn't even notice after the last oil bust 5 years ago or whatever it was.
 
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JEDI

Lifer
Sep 25, 2001
25,985
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and the market dropped at the last trading hr.
could this be the beginning of the test back to recent lows?
or another false hope?
 

FelixDeCat

Lifer
Aug 4, 2000
25,731
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and the market dropped at the last trading hr.
could this be the beginning of the test back to recent lows?
or another false hope?
Its hard to play the short game with all the government interference in the markets in favor of longs. Just expect all dips to be bought until we stop with the wall street welfare programs.
 

FelixDeCat

Lifer
Aug 4, 2000
25,731
353
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Missed the big one today - a small 3d printer company out of Israel (NNDM) announced a breakthrough in the ability to print 3d circuit boards. I was looking at the stock at $1.50-1.60, already up 100% from .80 cents the day before. I looked at the chart and back in January it was $2.00. I thought there might be an outside chance of it hitting that, but decided to pass.

Went to go do some things and came back to look at my watch lists - damn thing hit $2 after all, so I bought some shares and dumped them for a quick profit. :)

edit...Damnit, still going! I want my shares back!!! :eek:

(be careful with this one, its a long way down once it consolidates)
Pisses me off. I was going to pull the trigger....10,000 shares at 1.60 but it was already up 100%. Afterhours its now $6.
 
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zinfamous

No Lifer
Jul 12, 2006
100,462
14,485
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Dude, thanks for making me laugh.

No property tax? LOL!!!! Thats how we fund schools in TX. We have some of the highest property taxes.

We also have a responsible state government that has billions in excess cash squirreled away for a rainy day!

edit: We also dont hand out multi-million dollar pensions to individual police and firefighters either that taxpayers have to fund. If you want that much money - save it yourself!
Ah! yes, I thought that was the case, but I forgot. It's usually one or the other in such states. I think FL is the same?

I goofed on that.
 

FelixDeCat

Lifer
Aug 4, 2000
25,731
353
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Being that the VIX is 27.98 and the historical typical range is 10-20, MY THEORY is that they are trying to short it back to that range.

They figure they can do this with impunity despite a bad economy because rates are very low, the government is talking MORE stimulus (we dont need it, we've spent too much already) and the Fed is manipulating the credit markets at every possible angle and will not allow "price discovery", so the only direction for markets to go is UP!?

The only risks right now are Trump possibly announcing measures against China next week, politicians throwing monkey wrenches in the next stimulus package or something unknown / something considered irrelevant suddenly becoming relevant.

So either we see QQQ $213 or QQQ $231 next week, with 231 being the favorite.
QQQ $231 target reached, albeit a week late.

Now where do we go?
 

FelixDeCat

Lifer
Aug 4, 2000
25,731
353
126
It's six grand as of right now to buy back my SRNE calls.

Too rich. I'll wait it out.
We've both been watching this for a while. It would seem $4 is within view, unless something else is announced. The company goes months without breathing a word (good time to short calls), then all of sudden comes "the press release" like a new discovery, a buyout offer or something of the sort.
 

dasherHampton

Golden Member
Jan 19, 2018
1,752
262
96
Yeah, six grand would wipe out my option profits.

The only way I'd even consider it is if I were selling SRNE immediately after buying back the calls. It's just too much $ to be worthwhile at this point.

If SRNE does fall hopefully the calls will remain charged for a while, simply due to their involvement with the virus. Hell, I could sell $3 calls at this point.
 

dasherHampton

Golden Member
Jan 19, 2018
1,752
262
96
My oh my, Luckin.

I haven't really been following the aftermath. I assume there are massive lawsuits in the offing.
 

FelixDeCat

Lifer
Aug 4, 2000
25,731
353
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My oh my, Luckin.

I haven't really been following the aftermath. I assume there are massive lawsuits in the offing.
Like I mentioned earlier, I've long been suspicious of Chinese stocks. They did not have the same listing requirements with regard to transparency. Due to the massive Luckin Coffee scam the Nasdaq will now require all companies from around the world to follow US requirements.

Luckin is likely going to be a penny stock trading on the pink sheets....and at one time people were duped into paying $30+ for it.

edit: There is also talk in Washington about delisting ALL Chinese stocks. This would include Alibaba!
 

dasherHampton

Golden Member
Jan 19, 2018
1,752
262
96
I sold off most of my Chinese stocks a while ago. The only thing I have left is 1100 lonely shares of IQ.

iirc my basis is around $23000 and I've made probably around $4000 selling options on them. The current calls expire next month. I'm leaning towards dumping the shares when the options expire. I'll probably take a composite hit of a few grand.

But I'm not waiting around for a 3-4 grand loss to turn into a ten grand one.
 

JEDI

Lifer
Sep 25, 2001
25,985
534
126
grrr.. stopped out of sqqq at near new 52week low.
and then sqqq goes up, of course. :(
i feel like manipulators see my stop order and manipulate the market down a little more to get that low hanging fruit.

i might miss the ride to re-testing the recent bottom (unless sqqq drops another 10%+ for me to enter again).
 

nisryus

Senior member
Sep 11, 2007
339
18
81
There was something a bit off about the situation. Another reason I was skeptical.
Oh man, my first dip into stock trading...

Last night i saw the post, thought maybe i should try it too (Thought I could make a quick buck) This morning opened an etrade account and purchased 50 shares. The asking at the time was $4.65, so I thought ok lets do it.. and gone in... now it is down to $3.

QQ
 

dasherHampton

Golden Member
Jan 19, 2018
1,752
262
96
Screw you, SRNE.

Do I really have to watch this shit for another month? lol It's not even an earth shattering amount of money involved. I've just kind of become obsessed with it.
 

IEC

Elite Member
Super Moderator
Jun 10, 2004
13,874
3,388
136
Screw you, SRNE.

Do I really have to watch this shit for another month? lol It's not even an earth shattering amount of money involved. I've just kind of become obsessed with it.
Agree. There wasn't much reason to believe it shouldn't fall back below $4, and just when it looked like it was about to, it soars. :rolleyes:

Guess I'll ride some puts back downward.
 

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