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

[dasherHampton]

I really wish now I had averaged down my GE when it was under $6 but even a few weeks ago nobody really knew what was going to happen. It was crazy. Still is, I guess.

Hindsight is always that glorious 20/20.

 

[FelixDeCat]

I was highly tempted to buy GE but passed. I also missed the monster rally in Alcoa from $5 - $10.

 

[Red Squirrel]

Been a while since I logged in to my stock account. I'm actually making money with Dynacert right now! That was a stock that kinda flopped and I was losing but it went back up it seems. Kinda tempting to cash out now but I'll wait and see. I could get $200 and then put it into other stocks. Making money with Victoria Gold too. Unfortunately I did not have much cash to buy a lot of stocks in that, I would have loved to buy more. Gowest gold is down, but I think that one has future potential. Losing about $600 with that one right now though. Kinda unerving to see such a large negative number, but I'm sure it will go up eventually. They are kind of at a standstill right now due to not being setup to process ore yet and their stockpiles are maxed out.

 

[FelixDeCat]

Gold stocks eh?

 

[FelixDeCat]

Felt like playing the lottery. Sold 200 HTZ $1 puts for $3200 exp Friday.

 

[s0me0nesmind1]

lol S&P is going to close about 3000.

I guess of all the indexes that makes SOME sense... since a lot of it comprises of tech companies that aren't hit by people staying at home.

 

[dasherHampton]

Felt like playing the lottery. Sold 200 HTZ $1 puts for $3200 exp Friday.

Oh my God. You have balls of steel.

 

[IEC]

DEMO-2 launch scrubbed.

Guess I'll have to wait for Saturday.

 

[dasherHampton]

Seriously Felix - I took a look and you really need to buy those puts back.

You know how much money you could lose on that?

 

[Svnla]

My index stock fund is almost back (about $98) to the record high (about $105) in February while million and million of Americans are still out of work. So much for it's the economy, stupid.

In other news, GE is saying goodbye to light bulbs which were made by GE for over 120 years - https://www.cnn.com/2020/05/27/business/ge-light-bulbs-sale/index.html

 

[Artorias]

I don't know whether to invest or not. I have this gut feeling this is a false recovery, and we are in for a long term downward trend.

 

[s0me0nesmind1]

I don't know whether to invest or not. I have this gut feeling this is a false recovery, and we are in for a long term downward trend.

Unless we magically turn a switch on and get everyone out spending money.... and stores/restaurants/workplaces magically get ramped up overnight....and the states magically get enough money to pay their workers.... and we get to < 5% unemployment, the stock market will go back to all new lows IMO.

I'm no big shot investor though, so maybe I'm just secretly in denial and am one of those idiots that buys high and sells low.

 

[zinfamous]

My index stock fund is almost back (about $98) to the record high (about $105) in February while million and million of Americans are still out of work. So much for it's the economy, stupid.

In other news, GE is saying goodbye to light bulbs which were made by GE for over 120 years - https://www.cnn.com/2020/05/27/business/ge-light-bulbs-sale/index.html

You've just conflated the stock market with the economy.

They aren't the same thing.

....maybe this is a beggining in understanding for a certain class of people that, in many ways, the market gaining extreme values despite the lack of employment, is a pretty clear evidence that we need to stop using this as any sort of metric for how "good" things really are, for the vast majority of actual people?

And now, you will proceed to try and explain to me how what you just explicitly said, is not what you said, amirirte?

 

[FelixDeCat]

Seriously Felix - I took a look and you really need to buy those puts back.

You know how much money you could lose on that?

Yeah, it looks like this one might not pan out.

Afterhours it was revealed that the largest shareholder of Hertz, Carl Icahn, took a billion dollar loss and dumped all his shares at 72 cents yesterday. Talk about a big vote of no confidence!

We will have to see how this plays out. Hopefully I can get out with a tiny profit or breakeven.

 

[FelixDeCat]

Futures off a whisker...

 

[IEC]

AAL to cut 30% of management/admin staff. Someone I know who had a job offer there just had their offer rescinded.

HTZ still above $1

 

[FelixDeCat]

6 call options Altimune. Pure gamble.

 

[KB]

I was highly tempted to buy GE but passed. I also missed the monster rally in Alcoa from $5 - $10.

Good thing you didn't. They will be 3.5 - 4.5 B cash flow negative this year. They just can't seem to succeed and I don't think Engines and Healthcare can save them.

 

[KB]

In going with my open air locations will recover first thesis: picked up Six Flags (SIX). CEO said they had enough money to be closed for the whole year and still survive, yet they plan to re-open, albiet with 50% capacity. With less people flying , people may stay local for vacation which could help them.

 

[s0me0nesmind1]

This isn't really investment related - but moreso on tax strategy.

I think everyone is kind of in agreeance that with all this stimulus shit and bailouts going on - that tax rates are going to increase.

What is everyone's thoughts on doing stuff like partial ROTH conversions or something along those lines if you were to get a heads up that your tax brackets would be increasing in the coming year?

 

[dullard]

You've just conflated the stock market with the economy.

They aren't the same thing.

Correct, they aren't the same thing. There tends to be some wild deviations from one to the other in the short term. But, in the long term, they are correlated. My favorite chart is the S&P to GDP ratio. Where you can see, short term the S&P and GDP can go in wildly different directions (usually the S&P is far more volatile than the GDP). But, over the course of decades, this ratio eventually returns to it's average.

Note: the "sell" line is sell if it stays above this line for too long then sell. If you sell too soon, you'll miss out on years of growth. Same with the "buy" line. Don't buy the instant it crosses that line, you can wait a bit if you want.

 

[s0me0nesmind1]

Greaaaaaaaat, so now to go along with all this is China coming down on Hong Kong - Ol' Trumpy is going to be making a speech concerning it and the markets tanked at the last second after being up all day lol.




THE ECONOMY IS IN RUIN! Unemployment is through the roof and there is no end in sight!... Buuuuuuuuut! Supposedly some pharmacuticals are making minor progress on tiny studies of vaccinations! YAY!~ BUY BUY BUY!!

OH FUCK! China is in the spotlight again for doing shitty dictator things. SELL SELL SELL!



I swear the stock market is run by retarded monkies.

 

[Artorias]

To be fair this is the worst relations each country has ever had.

 

[dasherHampton]

If HTZ stays above $1 tomorrow that's truly going to be one of the most amazing calls I've ever seen.

I'm keeping my fingers crossed.

 

[zinfamous]

Greaaaaaaaat, so now to go along with all this is China coming down on Hong Kong - Ol' Trumpy is going to be making a speech concerning it and the markets tanked at the last second after being up all day lol.




THE ECONOMY IS IN RUIN! Unemployment is through the roof and there is no end in sight!... Buuuuuuuuut! Supposedly some pharmacuticals are making minor progress on tiny studies of vaccinations! YAY!~ BUY BUY BUY!!

OH FUCK! China is in the spotlight again for doing shitty dictator things. SELL SELL SELL!



I swear the stock market is run by retarded monkies.

hey! we found something that we can agree on!