The Market 2022-2023-2024

[dscher]

Oil related stocks are getting rocked!

Oil and yields look to be in the same boat....and usually are correlated over time, obviously. Parabolic move from the COVID bottom has been incredible.

 

[Russ Smith]

It's so obvious that crypto is a scam to me just by looking at the demographic hyping it. It's shocking it has gotten as much institutional adoption as it has thus far. NFTs are digital beanie babies. I will relish in the collapse of this nonsense.

LOL at K. Pass the corn flakes.

I don't trade crypto because I don't understand it but he was so sure he was going to be a multimillionaire from it I really hoped he was right.

The irony is he said the main strength of it is it's decentralized so it doesn't matter whose in office and what they do, won't affect crypto.

I hope it comes back some and I think he's still ahead of where he bought it but yeah I'm concerned he's going to lose it all.

 

[dscher]

I don't trade crypto because I don't understand it but he was so sure he was going to be a multimillionaire from it I really hoped he was right.

The irony is he said the main strength of it is it's decentralized so it doesn't matter whose in office and what they do, won't affect crypto.

I hope it comes back some and I think he's still ahead of where he bought it but yeah I'm concerned he's going to lose it all.

Zero idea why anyone would want to fight this fed and government with a decentralized theme. They have effectively dollarized the world and anything done globally is done in dollars. This won't change anytime soon either... IMO. Riding the wave is so much easier... It's all about doing/following what the guys who create the game do.

 

[Folster]

Somehow LOW and MMM both up over 2% today???

 

[elindholm]

I don't trade crypto because I don't understand it but he was so sure he was going to be a multimillionaire from it I really hoped he was right.

The irony is he said the main strength of it is it's decentralized so it doesn't matter whose in office and what they do, won't affect crypto.

Sounds like he fell hard for the hype without asking himself whether it made any sense. Basic questions to ask would have been: Where does the value come from? and How does having a currency backed by a large powerful government decrease its reliability?

 

[elindholm]

Somehow LOW and MMM both up over 2% today???

MMM tends to trade in a narrow range, and it's been low for a while, so I figure it's just gradually regressing back to its mean.

As for LOW, both it and HD are up, so those are presumably connected, but I don't know what the macro-thinking is. MAS (Delta faucets, Behr paint, Kichler lighting, etc.) is also up. Something about the housing market?

 

[Folster]

MMM tends to trade in a narrow range, and it's been low for a while, so I figure it's just gradually regressing back to its mean.

As for LOW, both it and HD are up, so those are presumably connected, but I don't know what the macro-thinking is. MAS (Delta faucets, Behr paint, Kichler lighting, etc.) is also up. Something about the housing market?

Homebuilder ETFs only down about 0.50%, they actually include LOW and HD.

Of course PEP is up. I'll never get to own them.

 

[Russ Smith]

Sounds like he fell hard for the hype without asking himself whether it made any sense. Basic questions to ask would have been: Where does the value come from? and How does having a currency backed by a large powerful government decrease its reliability?

I was trying to be apolitical he loves Trump hates Biden so he was saying being in Crypto would shield him from any problems Biden caused.

 

[dscher]

Boeing still on that rocket ride to retest pandemic lows... Down 10% today.

 

[dscher]

Homebuilder ETFs only down about 0.50%, they actually include LOW and HD.

Of course PEP is up. I'll never get to own them.

Staples and Utilities. The places to be in right now.

 

[AsUpRoDiGy]

I don't trade crypto because I don't understand it but he was so sure he was going to be a multimillionaire from it I really hoped he was right.

The irony is he said the main strength of it is it's decentralized so it doesn't matter whose in office and what they do, won't affect crypto.

I hope it comes back some and I think he's still ahead of where he bought it but yeah I'm concerned he's going to lose it all.

CNBC just came out with an article saying that 40% of people holding BTC are in the red. Also…over 25% of all electricity consumption goes towards crypto mining, which is insane.

 

[dscher]

Fed trying to fight inflation and create smooth market functioning:

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[BigRedRage]

The only specific crypto I believe in is Ethereum. It has real world use and value vs "gold" btc or "currency" doge.

And even Ethereum is a small part of my portfolio, thankfully.

It's a shame I bought back into the market when I did as nvda, MSFT, goog and more have done nothing but go down. However, they were down when I bought and all of those companies are doing just fine so I am 100% confident that whenever the markets stabilize, those companies I held will come back just fine.

 

[Russ Smith]

CNBC just came out with an article saying that 40% of people holding BTC are in the red. Also…over 25% of all electricity consumption goes towards crypto mining, which is insane.

Yeah and I don't want to go off on my nephew but he works in IT and that's why he's so convinced it's going to work. I kept asking him where is the value behind it and he'd say where's the value behind stocks, and I'd say the company.

People keep losing the keys to their digital wallet and stuff like that or losing the hard drive which actually increases the value of crypto because its value is apparently tied to scarcity.

I think he said he bought at like 10K so he's still up but I really am concerned for him when we were living in the same house it seemed like bitcoin was essentially 100% of his investments.

 

[Russ Smith]

The only specific crypto I believe in is Ethereum. It has real world use and value vs "gold" btc or "currency" doge.

And even Ethereum is a small part of my portfolio, thankfully.

It's a shame I bought back into the market when I did as nvda, MSFT, goog and more have done nothing but go down. However, they were down when I bought and all of those companies are doing just fine so I am 100% confident that whenever the markets stabilize, those companies I held will come back just fine.

Agreed my friend who I helped invest her IRA is very mad right now but I keep telling her in 5 years you will be ahead and way ahead of where you would have been if it was in cash. I hope I'm right or she'll be REALLY mad at me in 5 years.

I have to admit the last 2 days the drop in NASDAQ is just stunning. You can argue the stocks were overvalued to begin with but that's been the case for years tech stocks always trade on the future earnings. This fall is crazy. But I don't need the money anytime soon so not panicking.. yet

 

[BigRedRage]

Agreed my friend who I helped invest her IRA is very mad right now but I keep telling her in 5 years you will be ahead and way ahead of where you would have been if it was in cash. I hope I'm right or she'll be REALLY mad at me in 5 years.

I have to admit the last 2 days the drop in NASDAQ is just stunning. You can argue the stocks were overvalued to begin with but that's been the case for years tech stocks always trade on the future earnings. This fall is crazy. But I don't need the money anytime soon so not panicking.. yet

 

[Folster]

I thought today would begin with a rally that eventually gets swallowed up by the bear. It looks like that may be the case. Right now the S&P is up only 0.25%.

 

[Folster]

Now negative.

 

[dscher]

Now negative.

That elevated VIX will make for some huge intraday swings in both directions..

 

[dscher]

What do you think about the Nasdaq vs the S&P 500? Will they converge?

Looks like we could be flipping from growth underperformance to outperformance compared to value on a relative basis. Another strong move today in TLT is likely the reason. We'll have to see what that means on an absolute basis for the broader market....or if the move even continues to the upside.

 

[82CardsGrad]

Tomorrow is a HUGE with the CPI release..."Experts" suggesting that if it comes in lower than 8, the market could calm down and might even bounce. But if it comes in above 8, it will likely be an epic, perhaps even an historical single-day collapse...

 

[dscher]

Tomorrow is a HUGE with the CPI release..."Experts" suggesting that if it comes in lower than 8, the market could calm down and might even bounce. But if it comes in above 8, it will likely be an epic, perhaps even an historical single-day collapse...

The technical setup is definitely not in a favorable position for perceived "bad" news. On many levels.

 

[dscher]

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[dscher]

Lol. I love how the technicals can cut through the BS fed officials try to shove down our throats...

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[dscher]

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An inevitable massive de leveraging event has to occur. This is what happens when there is too much excess and greed in the system.