Discussion ***Official*** 2023 Stock Market Thread 💰

[FelixDeCat]

Wasn't expecting this rally in January. I was expecting continued lows until at least the start of February.

January effect.

Also...no one expects the Spanish Inquisition!

 

[Zorba]

I do mega backdoor Roth IRA contributions by rolling after tax money from my 401k to a Roth IRA.

I found out on Friday you can do the same thing internal to the 401k. You can do an immediate in plan Roth conversion going from after tax money to Roth money. Still deciding if that is what I want to do, but I think I'm going to.

 

[FelixDeCat]

I wonder if Powell will play nice today. 🤔

 

[PlanetJosh]

Carrying this question over from the end of last year's thread, so did any others get a dividend increase from mutual funds or other stocks at the start of the new year? It helps me pay some bills, a few extra $k per year.

Edit: And some too may have received cap gains from mutual funds at the end of 2022 although probably not as much as the end of 2021.

 

[biostud]

Carrying this question over from the end of last year's thread, so did any others get a dividend increase from mutual funds or other stocks at the start of the new year? It helps me pay some bills, a few extra $k per year.

Edit: And some too may have received cap gains from mutual funds at the end of 2022 although probably not as much as the end of 2021.

Mine are first due in February, but they are set to automatically reinvestment in the fund, as I currently am not in need of extra cash. But that is also the only investment I plan to do this year.

 

[Red Squirrel]

Victoria Gold slowly climbing. $8.91 right now. I think it was more like $15ish when I bought though...

I plan to cash out once I'm in the green. I can use the cash. Either that or buy silver.

I got about 20 grand in my ESPP at work, but I need to wait around 2 years to take it out. If I try to take it out now I can only access 5k. I cashed in a big chunk in 2021 so a bit worried about how hard I'll get hit with capital gains so I have 2k in savings that I'm just keeping there for now.

The saving account was actually my silver fund, I want to get a 100 oz bar, because shiny, but I might put it on the credit line instead, that's probably the smarter thing to do. Spent a lot of money this year, like at least 7k. The wood stove being one of my big expenses but that will pay for itself in a few years once I actually set it up and use it.

 

[repoman0]

I want to get a 100 oz bar, because shiny, but I might put it on the credit line instead, that's probably the smarter thing to do.

This thread is about trying to make money, not losing money and paying interest on top of it.

 

[FelixDeCat]

Victoria Gold slowly climbing. $8.91 right now. I think it was more like $15ish when I bought though...

I plan to cash out once I'm in the green. I can use the cash. Either that or buy silver.

I got about 20 grand in my ESPP at work, but I need to wait around 2 years to take it out. If I try to take it out now I can only access 5k. I cashed in a big chunk in 2021 so a bit worried about how hard I'll get hit with capital gains so I have 2k in savings that I'm just keeping there for now.

The saving account was actually my silver fund, I want to get a 100 oz bar, because shiny, but I might put it on the credit line instead, that's probably the smarter thing to do. Spent a lot of money this year, like at least 7k. The wood stove being one of my big expenses but that will pay for itself in a few years once I actually set it up and use it.

I was thinking about why Gold and Silver are not priced higher right now due to wild inflation and my conclusion was that crypto has taken a fair share of money that might have otherwise been put towards metals.

Also higher rates have a negative impact on metals so rates may have to stabilize I think before metals catch a new bid.

 

[repoman0]

Any takers for T bills yet? I have my eye on the 26 and 52 week ones (already put my $20k in I-bonds for the year). Now paying in the high 4% range and exempt from state taxes.

Have to admit I would like to know what happens to them if the US Government defaults in July. I don’t trust the new idiots in the House.

 

[Red Squirrel]

I was thinking about why Gold and Silver are not priced higher right now due to wild inflation and my conclusion was that crypto has taken a fair share of money that might have otherwise been put towards metals.

Also higher rates have a negative impact on metals so rates may have to stabilize I think before metals catch a new bid.

Yeah it's weird, especially silver. I feel it's going to explode at some point especially with higher uptake in solar as it's used in the production of panels. Solar panels themselves are at the lowest price point they'll probably ever be as well, I can see the prices start to go up eventually.

 

[Charmonium]

Yeah it's weird, especially silver. I feel it's going to explode at some point especially with higher uptake in solar as it's used in the production of panels. Solar panels themselves are at the lowest price point they'll probably ever be as well, I can see the prices start to go up eventually.

I did a quick google and it didn't look like a lot of silver is required for solar panels. Didn't get too deep though. You'd probably be better off with platinum or maybe rhodium, even though not apparently used in panels

 

[AdamK47]

Apparently there is some meme life left in BBBY. Stock price is over double the low of Jan 6.

It's fun watching the talking heads on Bloomberg and CNBC try to explain it. A lot of shrugs and shaking heads.

 

[FelixDeCat]

Apparently there is some meme life left in BBBY. Stock price is over double the low of Jan 6.

It's fun watching the talking heads on Bloomberg and CNBC try to explain it. A lot of shrugs and shaking heads.

Pretty wild. So far 52,000 $3 call contracts expiring Friday exchanged hands.

The most I've ever seen in 20 years was 120,000 contracts in one day on Sundial Weed stock in 2021.

 

[Red Squirrel]

I did a quick google and it didn't look like a lot of silver is required for solar panels. Didn't get too deep though. You'd probably be better off with platinum or maybe rhodium, even though not apparently used in panels

Yeah it's a small amount but there's some talk that the current silver production is not fast enough to meet the projected demand. All speculation at this point though. I wouldn't necessarily put thousands of dollars into silver with the hope that it will skyrocket short term. Well maybe a few thousand... That's about what I'm at now lol. 110oz. I stopped for now though. Platinum and gold are worth looking at too, but much higher price of entry per oz.

Realistically once my debts are paid I need to start looking at index funds. Just not sure how to go about buying them, I don't see that option on my banking site or stock broker site.

As a totally random note, I noticed something interesting, the forum actually used the emoji 💰 from the title as part of the actual url. I had no idea that was even possible.

 

[biostud]

Realistically once my debts are paid I need to start looking at index funds. Just not sure how to go about buying them, I don't see that option on my banking site or stock broker site.

You buy them the same place you buy your stocks, just search for them. One of the most common is iShares iShares Exchange Traded Funds (ETFs) | iShares - BlackRock

 

[Red Squirrel]

I'm on Virtual Brokers, I'll have to check further.

 

[jpiniero]

CPI fell for the first time in months. OTOH the number of new unemployment claims fell too. Might be a flat day.

Edit: Fresh Fruit is now down 1.9% YoY. That's Murica for ya.

 

[drnickriviera]

Any takers for T bills yet? I have my eye on the 26 and 52 week ones (already put my $20k in I-bonds for the year). Now paying in the high 4% range and exempt from state taxes.

Have to admit I would like to know what happens to them if the US Government defaults in July. I don’t trust the new idiots in the House.

I've been in them for a while. 13,17 and 26 look nice. Trying to stay short term till they get closer to peak then go longer term. Funding them through online savings so still getting 4% while they aren't in treasuries.

I doubt the gov would actually default on debt?? It would screw them up from being able to deficit spend out the wazoo later right?

 

[biostud]

I'm on Virtual Brokers, I'll have to check further.

I just use my bank where I have a securities depository for my stocks (a Danish one), and then simply search for the ETF I want to buy the same place I would if I were to buy a single stock.

 

[dullard]

CPI fell for the first time in months.

From June to Dec, CPI-U went up only 0.16%. The data for some other types of workers is actually down for the 6 month period. But what will many people focus on? 6.5% inflation for the year.

We need the fed to realize that a fundamental shift occurred in June 2022. Annual data completely misses that fact. I don't want unnecessary interest and recessions from someone not knowing that prices stopped increasing 6 months ago. Prices haven't fallen other than on a few items. But they aren't increasing anymore either.

 

[AdamK47]

VIX dropping. Below 20 again. I'm thinking today will be a generally positive day.

 

[jpiniero]

We need the fed to realize that a fundamental shift occurred in June 2022.

In theory, if they cut now, inflation would come back. I still think it's more about wages/"Quiet Quitting"/RTO now than actual inflation. Still looks like 2 more hikes and then they will sit for several months and wait and see if the layoffs start piling up enough.

 

[dullard]

In theory, if they cut now, inflation would come back. I still think it's more about wages/"Quiet Quitting"/RTO now than actual inflation. Still looks like 2 more hikes and then they will sit for several months and wait and see if the layoffs start piling up enough.

I wasn't arguing for cuts. But a pause in hikes seems prudent to await more data. You are probably correct that they'll do 2 more hikes right away though.

Much of the causes of inflation have subsided or stabilized. They aren't gone, but they aren't getting worse any more.

As for quiet quitting, a large amount of the job growth was in the 1 to 2 person micro businesses expanding to 5 or 10 people. Quiet quitting would be noticed there. So unless you have evidence it seems like your idea is far fetched.

 

[Artorias]

It should probably go up another 1-2.5 percent. I know that's easy to say as someone with no debt, but it really would be best if there wasn't another race to the bottom again, near zero interest rates just doesn't make sense.

 

[jpiniero]

near zero interest rates just doesn't make sense.

It does if you want the stock market to go up.