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

[ponyo]

Sold HTZ early yesterday morning. Decent profit since mid last week.

Great job locking in the gain. Last week and early this week reminded me of late 1999 and early 2000 of the Dotcom era. Stuff I saw with HTZ and other stocks blew my mind. Market is truly a casino at this point.

 

[IEC]

Just like with BTC $20K, when baristas and recently funemployed are joining the party, it's time for me to look for the exits. I'm already way past my targeted returns for the year. Might as well lock a good portion of it in.

"Be greedy when others are fearful, and fearful when others are greedy"

In the meantime I will daytrade and play the options game.

Hot off the press: Jpow and the Fed say no rate increases until 2022

 

[FelixDeCat]

Tesla is so overvalued right now. TD Am has shares available to short and Ive been waiting for a time like this.

 

[FelixDeCat]

I also have 2,000 short of Corona Cruise Lines (20 put contracts for next week, strike $21).

Obvious retracement is obvious.

 

[Roger Wilco]

Circuit breakers today? I think it’s going to plummet today and tomorrow.

 

[Ken g6]

Personally, I think the market will go back down in a week or two when all the cases of coronavirus spread by protesters show up.

Called it!

Dow plunges 7%, marks worst day since March as Fed’s grim outlook and rising cases of coronavirus unsettle bulls

U.S. stocks on Thursday mark the worst day since the height of the coronavirus-induced rout, amid signs of a re-acceleration of cases of COVID-19, and as...

www.marketwatch.com

 

[Svnla]

Is this rich guy crazy, stupid, or the freaking genius?

He sold his company for billions, then used almost all the proceeds to invest in two stocks — and only two stocks

What would Warren Buffett do? Definitely not this.

www.marketwatch.com

 

[IEC]

Is this rich guy crazy, stupid, or the freaking genius?

He sold his company for billions, then used almost all the proceeds to invest in two stocks — and only two stocks

What would Warren Buffett do? Definitely not this.

www.marketwatch.com

Reminds me of the joke:

How do you make a pilot a millionaire?

Give them a billion dollars.

 

[s0me0nesmind1]

lol I seriously will never understand the stupidity that is our stock market.

Weeks of huge fat gains to the point of being at all time highs - and now the DOW is down 1500 all of a sudden because... The news media starting covering COVID again instead of BLM protests?

 

[FelixDeCat]

I also have 2,000 short of Corona Cruise Lines (20 put contracts for next week, strike $21).

Obvious retracement is obvious.

Covered.

 

[FelixDeCat]

lol I seriously will never understand the stupidity that is our stock market.

Weeks of huge fat gains to the point of being at all time highs - and now the DOW is down 1500 all of a sudden because... The news media starting covering COVID again instead of BLM protests?

Focus on the negative. It sells ads.

 

[IEC]

Yesterday at 1:11 PM

Man, I really timed my exit well...

 

[jpiniero]

Let me guess, they expected a much higher unemployment number with the first wave of PPP expiring?

 

[Svnla]

Well, it was less than 6% down for the S+P 500. Stay tuned for tomorrow.

 

[dasherHampton]

I don't have any concrete info but it wouldn't surprise me one bit if a lot of today was options related.

People new to the market discovered how to sell puts. Hey, the stock itself might be in trouble but the puts expire on Friday and I can make $1500 on them. It's like free money. What could go wrong? And now their accounts are halved.

Want to swim with the sharks? Welcome to the deep end.

 

[FelixDeCat]

If you want to be cynical, you could look at the last 45 days as the greatest dead cat bounce in history!




Hard to say what happens next but I suspect a technical bounce in the morning. If the manipulators want to play it up, they will point to vaccine progress to try to devalue puts.

Another scenario is a selloff in Asia and Europe that will bring futures down and some selling in New York, followed by some small short covering before the day is over.

Smarter money may try to hedge next week. But who knows what will happen.

Part of me would like to see us go back to the Pandemic Bottom, so we can do this all over again.

 

[manlymatt83]

Had sold covered calls on my entire portfolio. Was starting to get nervous. Closed them out today for a profit. Won't do that again.... I handled the drawdown better.

 

[FelixDeCat]

Hertz wants to do a secondary offering WHILE IN BANKRUPTCY of up to 1 BILLION shares, with the understanding the shares might wind up WORTHLESS. I dont think a company has ever done a secondary while bankrupt in the history of mankind. That only happens when the company emerges from BR.

The judge is Mary Walrath. Ive heard her name before, and if I recall correctly, she doesnt tolerate nonsense - so I doubt she will allow this. But it will be interesting to see what happens in the morning.

 

[Artorias]

As a novice investor starting out whats a good resource for information? Doing some research my preference in individual stocks would be with a dividend history. I see most of you trade individual stocks here, I assume most of you have "safer" investments like EFT's and mutual funds?

 

[FelixDeCat]

As a novice investor starting out whats a good resource for information? Doing some research my preference in individual stocks would be with a dividend history. I see most of you trade individual stocks here, I assume most of you have "safer" investments like EFT's and mutual funds?

I like Investing.com for futures: https://www.investing.com/indices/indices-futures

And Yahoo Finance for news, historical information on stocks, ETFs and Mutual Funds: https://finance.yahoo.com/

 

[manlymatt83]

Hertz wants to do a secondary offering WHILE IN BANKRUPTCY of up to 1 BILLION shares, with the understanding the shares might wind up WORTHLESS. I dont think a company has ever done a secondary while bankrupt in the history of mankind. That only happens when the company emerges from BR.

The judge is Mary Walrath. Ive heard her name before, and if I recall correctly, she doesnt tolerate nonsense - so I doubt she will allow this. But it will be interesting to see what happens in the morning.

super super scary. And indicative of the greed, no? The fact that people were willing to pay $5/share for shares that will likely be worthless is mind boggling to me. What do they know that we don’t? Or is it all retail investors?

 

[brianmanahan]

when the 1-day swings get bigger than what i invest in a year, it starts to feel real

 

[Svnla]

Hertz was about $20 in Feb of this year, then down to about $0.50 then up to $5 then down to $3. Talk about a wild ride. Oh, it was about $105 in 2014.

 

[IEC]

So the HTZ bondholders are going to get paid by the shareholders bagholders?

I never knew retail investors were so charitable.

/s

 

[dasherHampton]

I give up. I though for sure the market would keep falling.

I think the theory that the US stock market is simply the least objectionable place to keep money right now is probably valid to a certain degree.

edit - and just as I type that I look and it's starting to fall.