How’s the stock market?

[stringcheese]

Right but I'm talking on a broader scale.

Take me for instance.

All the data on Omicron seemed to be pointing in a good direction over the past weeks (despite the media panic) and looking at historical prices for Carnival/CCL the other day made me to speculate it was a good buy.

Now I'm up 19%.

People didn't used to throw around money in the market like this. And not from their smartphone.

And there are millions more just like me that have piled money into garbage like DoorDash.

There have to be a lot of people doing this because it's so much easier now. How much money they all actually account for....

I started because thinkorswim had a fun, easy paper trading app. I saw in passing, and by accident, that carnival stock had taken a shlt and I thought they weren't going to go bankrupt and everyone was over reacting.
So I "bought" a bunch of that (half of the 100k points they give you) and it went up ~25% over a couple of weeks. I kept doing that with other companies based on news events. One or two at a time.
I used the other half to buy stuff like Nvidia, lulu lemon, random crap like that one at a time when the market opened, selling it as soon as it went down and buying into one of the others. I made a list of stocks that moved a lot, and had a lot of people buying in and out. I always sold those before the market closed, was just playing them that day, not really sure about their long term...thing. That part was fun.

Now for a while it's been my money and I'm just doing the same, probably recklessly irresponsible, thing...treating it like a game.

I don't know though, I've been playing games my whole life and I'm good at almost all of them. Video game generation might be able to make some waves, eventually.


Edit: I get a lot of my picks from this thread, I owe some of you some waves and beers

 

[casa_mugrienta]

There have to be a lot of people doing this because it's so much easier now. How much money they all actually account for....

I started because thinkorswim had a fun, easy paper trading app. I saw in passing, and by accident, that carnival stock had taken a shlt and I thought they weren't going to go bankrupt and everyone was over reacting.
So I "bought" a bunch of that (half of the 100k points they give you) and it went up ~25% over a couple of weeks. I kept doing that with other companies based on news events. One or two at a time.
I used the other half to buy stuff like Nvidia, lulu lemon, random crap like that one at a time when the market opened, selling it as soon as it went down and buying into one of the others. I made a list of stocks that moved a lot, and had a lot of people buying in and out. I always sold those before the market closed, was just playing them that day, not really sure about their long term...thing. That part was fun.

Now for a while it's been my money and I'm just doing the same, probably recklessly irresponsible, thing...treating it like a game.

I don't know though, I've been playing games my whole life and I'm good at almost all of them. Video game generation might be able to make some waves, eventually.


Edit: I get a lot of my picks from this thread, I owe some of you some waves and beers

My wife's students use Robinhood and crypto apps.

They're 10 year olds.

 

[stringcheese]

My wife's students use Robinhood and crypto apps.

They're 10 year olds.

They're going to kick @ss at this by the time they're able to have bank accounts.
Well...some of them are. If it's like everything else, a handful will probably dominate while most of the class finds a way to suck.

 

[sussle]

Week started out rough but bounced back nicely by today. Historically, next week and on into the New Year, we should see a Santa Claus rally

I'm would be thrilled to get back to where I was about 4-6 weeks ago.

 

[skullver]

Week started out rough but bounced back nicely by today. Historically, next week and on into the New Year, we should see a Santa Claus rally

I'm would be thrilled to get back to where I was about 4-6 weeks ago.

I am not getting a warm fuzzy feeling about overall market health,

Week started out rough but bounced back nicely by today. Historically, next week and on into the New Year, we should see a Santa Claus rally

I'm would be thrilled to get back to where I was about 4-6 weeks ago.

Most of the index components are already in a bear market, once the Google Apple Microsoft Tesla start fading...watch out below. Inflation and interest rates, coupled with supply chain woes and covid. I'm being very particular about my investments right now, have my eyes on some bear market ETFs for when the time comes, mostly just scaling out of winners and not doing much bottom feeding.

Merry Christmas, Happy New Year!

 

[Chocki]

They're going to kick @ss at this by the time they're able to have bank accounts.
Well...some of them are. If it's like everything else, a handful will probably dominate while most of the class finds a way to suck.

If You're Day Trading, You Will Probably Lose Money: Here's Why

Day trading has become a popular hobby in the past year as investors around the world were faced with economic shutdowns and social distancing measures.

markets.businessinsider.com

 

[Subway]

I am not getting a warm fuzzy feeling about overall market health,

Most of the index components are already in a bear market, once the Google Apple Microsoft Tesla start fading...watch out below. Inflation and interest rates, coupled with supply chain woes and covid. I'm being very particular about my investments right now, have my eyes on some bear market ETFs for when the time comes, mostly just scaling out of winners and not doing much bottom feeding.

Merry Christmas, Happy New Year!

Just be mindful of your risk horizons that’s all, no need to panic. If you’re in your golden years you should already be in a capital preservation/income mode anyway. At 42, the idea of a bear market only makes me drool, though it does have a modest correlation to ad spending, but still…hell i was hired in the middle of the Great Recession and was killing it in my first year and never looked back. In fact our particular niche becomes in some ways more popular in a recession. I wont bore you with the details why, but it happened last time, and it happened last summer and this year despite Covid, so, we’ll see

 

[skullver]

Just be mindful of your risk horizons that’s all, no need to panic. If you’re in your golden years you should already be in a capital preservation/income mode anyway. At 42, the idea of a bear market only makes me drool, though it does have a modest correlation to ad spending, but still…hell i was hired in the middle of the Great Recession and was killing it in my first year and never looked back. In fact our particular niche becomes in some ways more popular in a recession. I wont bore you with the details why, but it happened last time, and it happened last summer and this year despite Covid, so, we’ll see

Definitely not in panic mode, preparation is key. I'm only 47 so a ways away from actually being able to use my retirement funds. Could I survive a 25% + drawdown knowing it will recover before I retire? Yes, but I'd much rather be poised to benefit from whatever happens if possible. I try not to have any particular bias but rather go with the flow. I'm not storing blocks of gold under my bed quite yet>

And just to be clear, I am not in the finance world whatsoever, I have a stable career well outside of it. I just enjoy the market dynamics and look for opportunities to grow my nest egg.

 

[Subway]

Well said and I agree.

i Keep a krugerrand and a small stack of benjamins in a hidden safe. That’s the extent of my prepper fund. The rest is either in the markets or in the house or paying for plane tickets

 

[stringcheese]

Anybody daytrading options right now?

 

[sussle]

If You're Day Trading, You Will Probably Lose Money: Here's Why

Day trading has become a popular hobby in the past year as investors around the world were faced with economic shutdowns and social distancing measures.

markets.businessinsider.com

yup, that sounds about right. i looked at day trading long and hard as a secondary source of income as i neared retirement....concluded that i had neither the discipline or the focus to succeed at it.

 

[stringcheese]

To be fair (letterkenny "to be faiiuhhh"), most people fail at everything, except easy shlt like police academy. 75% of bus boys wash out. Being in the top couple of percent performance wise at any task usually means you're just kinda alright at it.
Maybe everyone should set their expectations relative to how much of an accomplishment they feel like it is to be "top 10%" at something.

 

[LifeOnMars]

yup, that sounds about right. i looked at day trading long and hard as a secondary source of income as i neared retirement....concluded that i had neither the discipline or the focus to succeed at it.

most fund managers don't outperform the market, and they're full time professionals. what does that tell you? better off buying during in financial crisis, and selling near the top of the bubble. 3/2020 to now, maybe a few more months left before we start to see another decline. who knows?

 

[Subway]

To be fair (letterkenny "to be faiiuhhh"), most people fail at everything, except easy shlt like police academy. 75% of bus boys wash out. Being in the top couple of percent performance wise at any task usually means you're just kinda alright at it.
Maybe everyone should set their expectations relative to how much of an accomplishment they feel like it is to be "top 10%" at something.

I prefer 1% but I see your point. If some years I’m only top 2-3% in the company I’m ok with that. Not even gonna pretend that’s a humble brag

 

[r32]

YELL daily is at support. If it's going to bounce, it should bounce here. Otherwise, next stop somewhere around 7.50

 

[Subway]

not everything is quant m'boy. some things just require some good research and earnings fundamentals

 

[r32]

If @afoaf is scared to load up on YELL on this nice dip, probably means insiders are loading up for the bounce. They tend to do that when market is fearful.

But I understand one of the biggest mind fvcks of the market is trying to convince yourself to buy more of something you're already under.

'E' listed on the chart above is when earnings reports are due. Hopefully it pulls back right up to that report, and then we get better than expected earnings for a solid bounce and then @afoaf buys us all pizza.

 

[r32]

Take-Two Interactive to Buy FarmVille Maker Zynga in $11 Billion Deal

Two video game giants.

 

[sussle]

If @afoaf is scared to load up on YELL on this nice dip, probably means insiders are loading up for the bounce. They tend to do that when market is fearful.

But I understand one of the biggest mind fvcks of the market is trying to convince yourself to buy more of something you're already under.

No kidding. If I liked XYZ at $75 per share, why don't I love it at $50 a share?

To your point: https://finance.yahoo.com/news/bullish-insiders-bet-us-1-181359633.html

Bought a couple hundred more shares myself recently...we shall see what we see.

 

[Subway]

TAHTS WHUTG DA FUGVI AM TALKING ABOUT BOYS!!!! Howl (or yell) at the moooooooooon (or $25-30 bucks a share, that’d be cool)