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

[FelixDeCat]

Everyone is afraid of a wild week. I pray we have a boring week and everyone remains calm, cool and collected.

 

[ultimatebob]

The fiscally responsible party?

Which party is that one? They both seem to be a race to see who can deficit spend the most with stimulus payments this year.

 

[woodman1999]

I am thinking of buying a basket of anti-depressent drug companies for the winter into the spring. I think you're gonna see a skyrocket of diagnosis (not sure what the plural is here). Pfizer, Ely, GSK, Roche, Forest. Probably missed a chunk of upside, but it's one healthcare area I am light on.

 

[FelixDeCat]

Which party is that one? They both seem to be a race to see who can deficit spend the most with stimulus payments this year.

I did criticize the President for deficit spending (in fact I've always been critical of deficit spending) during one of the greatest stock market runs during any four year term. I could see a $3,000,000,000,000 injection to help while we froze the nation in a futile attempt to stop a virus spread, but doubling that amount and more just doesn't add up to me.

Is seems as though no matter what we are hell bent to add so much national debt during good times and bad to do otherwise is unthinkable. The crybabies have been in control since 2008. They want zero rates, they want out of control spending and if they dont get it they will crash the stock market. And it seems nobody has the stomach for that......yet many want cheaper entry points....and nobody likes to overpay for stocks.

As I said just a few posts ago, I think we need to ween ourselves off big government spending and continue to adapt and cope to a "pandemic economy". Even Darwin knew that only the strong survive, but since 2008 the only game we know is to rack up debt.

If we have to borrow any more money it should be as small and targeted as possible.

 

[s0me0nesmind1]

I did criticize the President for deficit spending (in fact I've always been critical of deficit spending) during one of the greatest stock market runs during any four year term. I could see a $3,000,000,000,000 injection to help while we froze the nation in a futile attempt to stop a virus spread, but doubling that amount and more just doesn't add up to me.

Is seems as though no matter what we are hell bent to add so much national debt during good times and bad to do otherwise is unthinkable. The crybabies have been in control since 2008. They want zero rates, they want out of control spending and if they dont get it they will crash the stock market. And it seems nobody has the stomach for that......yet many want cheaper entry points....and nobody likes to overpay for stocks.

As I said just a few posts ago, I think we need to ween ourselves off big government spending and continue to adapt and cope to a "pandemic economy". Even Darwin knew that only the strong survive, but since 2008 the only game we know is to rack up debt.

If we have to borrow any more money it should be as small and targeted as possible.

The people in power aren't economists. They aren't even functionally financially literate people.

Hell our city is in complete debt crisis because they guaranteed city workers a 7% interest on their retirement plans. That means when the stock market has a year of 23%, it meets that 7% quota. When the market has a bad year, and stocks go DOWN by 5% for the year - the city is deemed that they have to foot the bill to compensate their retirement plan to make it 7%.


You would have to be financially retarded to come up with something that insane

 

[ultimatebob]

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[Dr. Detroit]

Hell our city is in complete debt crisis because they guaranteed city workers a 7% interest on their retirement plans. That means when the stock market has a year of 23%, it meets that 7% quota. When the market has a bad year, and stocks go DOWN by 5% for the year - the city is deemed that they have to foot the bill to compensate their retirement plan to make it 7%.

You would have to be financially retarded to come up with something that insane

I give you the voters of Oregon...

 

[zinfamous]

I did criticize the President for deficit spending (in fact I've always been critical of deficit spending) during one of the greatest stock market runs during any four year term. I could see a $3,000,000,000,000 injection to help while we froze the nation in a futile attempt to stop a virus spread, but doubling that amount and more just doesn't add up to me.

Is seems as though no matter what we are hell bent to add so much national debt during good times and bad to do otherwise is unthinkable. The crybabies have been in control since 2008. They want zero rates, they want out of control spending and if they dont get it they will crash the stock market. And it seems nobody has the stomach for that......yet many want cheaper entry points....and nobody likes to overpay for stocks.

As I said just a few posts ago, I think we need to ween ourselves off big government spending and continue to adapt and cope to a "pandemic economy". Even Darwin knew that only the strong survive, but since 2008 the only game we know is to rack up debt.

If we have to borrow any more money it should be as small and targeted as possible.

It doesn't have to be futile.

You guys like to pretend that this is still 1917 and Germ theory was just barely a thing.

Stop pretending that we don't know anything and that we're better off just giving up. It's fucking insane to be this preposterously stupid in the face of all the knowledge that we have sacrificed for and gained over generations.

I'm just fucking sick of dealing with this level of ignorance.

 

[FelixDeCat]

^
This is reason I dont go to P&N anymore. The arrogance and presumptuousness is mind blowing. He assumes something based on things I did not say, extrapolates what he thinks I know and twists it into an ugly, vulgar reply.

Wheres the civility?

 

[dasherHampton]

^
This is reason I dont go to P&N anymore. The arrogance and presumptuousness is mind blowing. He assumes something based on things I did not say, extrapolates what he thinks I know and twists it into an ugly, vulgar reply.

Wheres the civility?

Hey Felix.

Are you looking at anything promising right now?

 

[FelixDeCat]

I have 5 $76 call options on NUGT from last week that has gained about $400 in value. Im going to dump them at the open. Im afraid of whats in store for markets as a whole to be honest and have to focus on my day job.

We may have two people who will claim to be president next week and growing lack of civility in society as people act on their emotions and "take to the streets" with their guns and their opinions.

I cant think of any clear path to profit at the moment other than to protect what you have for the short term.

Again, I pray for peaceful boring turn of events.

 

[dasherHampton]

Yeah, might be crazy.

I still do the SRNE thing. I sold 10 3/19/21 $3 puts for almost $700 a while back.

They're down to about $525 now; still up about $160. Sometimes I think I should buy them back but what's the use? SRNE at $3 is a decent investment imo.

 

[ultimatebob]

I noticed that a lot of the mutual funds in my IRA have moved about 10% of their holdings to cash as well. It looks like they're expecting a crazy week as well.

I'm always looking to buy something discounted on the dip. Market corrections are always a good time to find bargains in the stock market, although there are many tech stocks that are still overvalued at this point.

 

[ponyo]

I just try to focus on the big picture. No matter who wins the election tomorrow, the future is green energy, electric vehicles, AI, and full self driving. And China.

 

[brianmanahan]

full self driving

that's the holy grail as far as i'm concerned

it'll change my life and the lives of so many people

 

[s0me0nesmind1]

I just try to focus on the big picture. No matter who wins the election tomorrow, the future is green energy, electric vehicles, AI, and full self driving. And China.

Pretty much.

I remember when the markets dipped when Trump either won or took office and it was hilarious... a few weeks later and the markets realized "Oh, hes just like the rest of the politicians"

But thats why I laugh at this election - regardless of who wins - the status quo will go on.

 

[s0me0nesmind1]

that's the holy grail as far as i'm concerned

it'll change my life and the lives of so many people

Insurance, legal companies, and police would fight it tooth and nail. No more DWI's... no more revenue for lawyers.... virtually little to no wrecks so insurance rates would plummet.

Bars would celebrate though - no reason to hold people back on drinks I guess unless they die from alcohol poisoning.

 

[dullard]

But thats why I laugh at this election - regardless of who wins - the status quo will go on.

Presidents have way less to do with the economy than people give them credit for. Presidents can nudge the economy in a direction or another. But they can't alter fundamental trends, make limited resources magically appear, prevent new diseases, stop people from being creative, change laws themselves, etc.

 

[ponyo]

that's the holy grail as far as i'm concerned

it'll change my life and the lives of so many people

Yup, FSD will be game changer. Think about the transport and the trucking industry. And general population. It'll free up people so they can sleep, eat, browse internet, work, relax, etc. And Robotaxi that will put Uber and Lyft out of business. I'm confident Tesla will be the first to solve FSD sometime this decade. I expect Chinese EV companies like Xpeng to quickly follow Tesla lead in FSD.

 

[ponyo]

Insurance, legal companies, and police would fight it tooth and nail. No more DWI's... no more revenue for lawyers.... virtually little to no wrecks so insurance rates would plummet.

Bars would celebrate though - no reason to hold people back on drinks I guess unless they die from alcohol poisoning.

No system will be perfect so there will be plenty of accidents. But if there are less accidents than before with human drivers, then that's a win. But you're right. The biggest hurdle for FSD will be regulators and lawmakers.

 

[s0me0nesmind1]

Yup, FSD will be game changer. Think about the transport and the trucking industry. And general population. It'll free up people so they can sleep, eat, browse internet, work, relax, etc. And Robotaxi that will put Uber and Lyft out of business. I'm confident Tesla will be the first to solve FSD sometime this decade. I expect Chinese EV companies like Xpeng to quickly follow Tesla lead in FSD.

.... And what happens to all those millions of jobs lol.

I've seen truckers that get paid at or nearly 6-figures. That's a lot of skill-less labor that is going to flood the market that is already saturated with it.


Taxi Drivers, Truckers, Insurance agents + appraisals, mechanics (to repair car wrecks), crash investigation, Police revenue will plummet since there won't be tickets to give out...

 

[s0me0nesmind1]

No system will be perfect so there will be plenty of accidents. But if there are less accidents than before with human drivers, then that's a win. But you're right. The biggest hurdle for FSD will be regulators and lawmakers.

I agree but I don't think it will be remotely close to what it is with human drivers. I would estimate less than 5% of what it is now when FSD fully takes over.

 

[brianmanahan]

And Robotaxi that will put Uber and Lyft out of business

i figure uber and lyft would make the switch and start running their own vehicles instead of paying drivers to use theirs

lot of inventory cost required to do that though

 

[brianmanahan]

.... And what happens to all those millions of jobs lol

they go the way of farriers and blacksmiths, probably

 

[Red Squirrel]

.... And what happens to all those millions of jobs lol.

Yeah the pipe dream of automating everything and not having to work but still having a good place to live and nice things is never going to happen. The reality is, the companies that own the automation will be making billions while the rest are struggling because there are no jobs. Even if the government were to implement UBI, it would probably be just enough to survive, you would probably not be able to own a nice house and have money for hobbies etc. You'd probably not have enough to own land or own much in general. The middle class would no longer exist. You are either a rich elite that owns a company that uses automation, or you are jobless on UBI. I was a big supporter of UBI when I heard of the concept, but the more I think about it, the more I realize it will basically be mild communism where everyone has to ration. And even if all jobs don't get eliminated, employers will know that everyone is now getting NN amount from the government, so they will be able to lower salaries to compensate, and they will.