Discussion ***Official*** 2024 Stock Market Thread 💰

[FelixDeCat]

Nah, just tax all income at consistent, progressive rates and all will be well.

That doesn't pay the bills. Equal taxation and spending cuts work. But we have not the guts for either.

We are doomed. 🤢

 

[Charmonium]

He probably meant marginal rates. Back in the 60s I think we did have a top marginal rate of something around that number.

I've been following the Nooky trial in NY off and on. When they came to how Cohen was reimbursed, they explained that since he was at the 50% bracket, they had to gross up the 130k to double to make it look like income so he could declare it as such.

But that's NYC where they really bend you over on state and city (yes city) taxes.

 

[Red Squirrel]

Or how about we have a government that is more responsible with money. The government should be run similar to a non profit corporation. The number one goal should be to spend the least amount of money while taking the least amount from the people, and break even. But as is, it seems the only goal is to try keep growing and growing, and that costs lot of money while accomplishing nothing. The government is basically just a big make work project. They create some kind of program or policy, and that requires staff, so they hire staff. Nothing gets done but they can now say they created new jobs. But we're the ones paying for those jobs.

 

[Charmonium]

CPI?

F*** the CPI

 

[Dr. Detroit]

That's the point, make spending hurt to the people who matter (the rich) and spending will come down.

Blame it on the retirees who are reaping 5.25% on their stacks of cash and finally feeling comfortable blowing cash after dealing with ZIRP the past 15yrs.
All those deferred home improvement projects, old clothes, lack of travel, new cars can be solved by 5.25% interest, stimmy checks, and of course those sweet SSI inflation adjusted (3.2%, 8.7%, 5.9%) checks.

And lets not forget about every homeowner who refi'd at 2.75% while watching there wages grow significantly and having boatloads of home equity.

Gotta love the JPow fighting trillion dollar Fed Spendinng thinking he can control inflation! Fed money printer goes brrrrrrr.

ZIRP, QE, Fed printing $$$ - yeah - we are fucked!

 

[Charmonium]

Not to rain on the parade, but the Fed has actually reduced their balance sheet by well over $1T over the past year (about 1.4T since 3/23). It had been labeled QT (to distinguish it from QE I suppose). You can't really get higher rates unless to tighten up the money supply. Without that, you're just jaw-boning.

They have pared that back though. I guess they were starting to get nervous. I still don't see any rate cut for June - maybe September.

Assets: Total Assets: Total Assets (Less Eliminations from Consolidation): Wednesday Level

View the total value of the assets of all Federal Reserve Banks as reported in the weekly balance sheet.

fred.stlouisfed.org

 

[biostud]

And now +10.13% YTD.

11.14% YTD

 

[FelixDeCat]

11.14% YTD

I guess it's not hard to do with DOW 40,000 today.

 

[biostud]

I guess it's not hard to do with DOW 40,000 today.

Kind of the point, nothing is hard if you just chill with some nice index funds.

But remember that the stock market was supposed to fall 25% this year....

 

[IronWing]

Kind of the point, nothing is hard if you just chill with some nice index funds.

But remember that the stock market was supposed to fall 25% this year....

Wake me when September comes.

The year is young and the market has plenty of froth.

 

[biostud]

Wake me when September comes.

The year is young and the market has plenty of froth.

Unless there is a major world event the market will keep chugging along, and sure there will be up and downs, but the trend will continue in the long term, which is my investment horizon.

Also I plan on doing an investment in the autumn, so it wouldn't be to bad with a minor setback.

 

[FelixDeCat]

I don't know if you guys have been watching the crazy action in penny stocks this week.

Most have been very scary because almost all of them are near bankrupt garbage that will likely dilute into any rally to raise capital.

Just for shits and giggles I took a shot on one yesterday that paid off. I bought when the stock was already up from .04 to .10 on 100m shares. The stock hit .53 on 3 billion shares traded. Sold at .40. I've never seen volume like that one on stock in one day of trading. The company was total garbage after I read its SEC filings. I figured I better take my 9k profit and gtfo.

The was another stock I refused to buy a few days ago because I normally avoid shitty penny stocks unless the opportunity is real after doing just basic research and not listening to hype or lies.

It went from .08 to .38, then .98 then next day, I was waiting for the crash but it then hit 2.44 before falling 50% to 1.45 the day after. It is 2.53 premarket this morning. I still refuse to buy. The company even distanced itself from the CEOs rosy outlook, saying "his opinion is his own". When your own company distances itself from you...and people still buy because they want to gamble.

The market is definitely a casino right now. Might be a sign of a top.

 

[Charmonium]

@FelixDeCat - Pennywise likes penny stocks

 

[FelixDeCat]

Lol 😆 that's not Penny Wise.

That's Penny Wise :



And not even he would buy the garbage being promoted right now. 😉

 

[AdamK47]

Maybe it's the new retail investors dumping their underperforming meme stocks for far riskier penny stocks.

 

[Charmonium]

@Red Squirrel - do you follow the price of silver? July contracts at 33 and change.

edit - now it seems to be just under $32

 

[Red Squirrel]

@Red Squirrel - do you follow the price of silver? July contracts at 33 and change.

edit - now it seems to be just under $32

Wow that's pretty crazy! Have not really been following it but I see it's at $43 CAD. Was in the 30's when I bought.

Actually better returns than any of the stocks I've bought so far... lol. This is from Silvergoldbull's site as it keeps track of what I bought so far.

 

[Charmonium]

@Red Squirrel - congrats man

 

[FelixDeCat]

Nvidia reports this week. Fibs are 800 or 1300. Current price is $950.

 

[IronWing]

Watching the metals bulls going wild has been interesting. Copper keeps going up because the long predicted supply squeeze is finally here… except that it isn't. Every report out of China says that the demand isn't there to support the current price. Oh well, hoarders got to hoard.

 

[dullard]

Watching the metals bulls going wild has been interesting. Copper keeps going up because the long predicted supply squeeze is finally here… except that it isn't. Every report out of China says that the demand isn't there to support the current price. Oh well, hoarders got to hoard.

Bubbles often start in truth, in a problem with the fundamentals. But then they take on a life of their own and far exceed any logical price level. It becomes a game of chicken to see who will blink first. Then they pop -- they pop faster than most people think, but often later than most people expect.

What fundamentals supported this bubble?

 

[WelshBloke]

I don't really like talking about what shares I'm invested but my Qualcomm shares are on fire! Up 56% since I got a bunch around Christmas time! 😳

 

[AdamK47]

Fed raining on the parade once again.

 

[FelixDeCat]

Everyone is expecting a pullback in Nvdia

 

[woodman1999]

Well thank you Nvidia for the 10-1 split and the drop in the cost basis!