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the market: stocks, bonds, options, whatever

Xorkoth

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You know what Xorkoth, when BTC hit the bottom last year Mrs Chesire_Kat and I discussed things over and decided to sell ours off while it still had some value. When I went to sell it I discovered that my old wallet had been deprecated due to security problems and I had to buy a newer version to access my BTC. They were in short supply so I had to wait for a few weeks and by the time my new wallet arrived BTC was already recovering so I put off selling.

I was so close to selling at the bottom it's not even funny.

Everything I gained from BTC is total luck. Left to my own devices I would have made real bad mistakes twice already.

Nice luck there, I sold near the bottom (not that I had much, I was as dumb as could be, bought in near the top of the 2017 spike, went into almost all alts, lost 90% of value, converted to BTC near the bottom to buy an order of drugs lol). All of my BTC experience has been bad luck and/or fomo/fud buying/selling. I did learn a lot though and I wasn't playing with big money, though it was enough to sting pretty bad.

BTC man... if I had bought an equal amount to what I spent on drugs every time I bought drugs, and stuck it somewhere for long term holding, I'd be normal person rich right now. C'est la vie. I was buying BTC when you would buy a couple of grams of RCs for like 2.5, 3 BTC.
 

usual-suspect

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Man BTC getting close to $38K. Fuckin wild. If it doesn't have a big crash/correction after this exponential fomo climb, but would goo to buy some even if only to sell it at a modest gain when it shows signs of stalling. But the last big spike, I bought in right around here and fucked myself.
Timing lows and highs a highly volatile active like BTC is a losing game, imho.

I hold and that's it. My opinion is that this is just starting. I am am not interested in any other outcome that: how is this going to be 10 years later?
 

Buzz Lightbeer

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How is Tesla at 700+ billion market value?
They made 500k cars last year, 700 billion is larger than Facebook, what a joke.

I'm guessing buyers are a mix between Musk fanboys and people trying to make a short term profit but I mean, it should be worth 1/50th of that no?
 

ions

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@Buzz Lightbeer you gotta know when to sell, it could be a crasher along with a lot of stocks after this so called melt-up. The DOW will bubble to 60k or so then crash hard.
 

ions

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I will start buying stocks after the looming crash. I also don't know a good trading app that would suit me. Yanno @dalpat077 Real Estate would be something I'd invest into.
 

Xorkoth

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I went ahead and stuck that $1500 into a few stocks, some bitcoin mining companies mostly, a few days ago. Including RIOT suggested by TheInvisibleStoner. Been making 10-15% per day since then, along with my $400 I spent on that weed stock a year and a half ago, my $1900 investment is currently just over $3k. I do realize a crash may be coming, but I decided to hedge my bets, and just not invest anything else until some time goes by. By right now shit is rallying hard and I wanted to catch some of that. Anyway I am going to hold for the medium term at least, shit recovers post-crash and BTC is clearly becoming a global store of value and doesn't appear to be going anywhere, so companies able to do a lot of BTC mining are probably going to continue to do well and be relevant. probably even moreso if the market has a big correction and more people get nervous and go into BTC to maintain the value of their money. I dunno I guess we'll see. Never ventured into stocks before though I learned some lessons in crypto a couple of years ago. I'm considering this my training run.

To anyone more experienced - if a big correction does come, does it really make sense to sell off your positions into USD (or maybe better yet, BTC), and re-buy at the bottom? Or is it not worth it because of having to pay taxes on that profit you're trying to lock in, and better to just hold? I have one stock I've owned for over a year that has more than doubled, but the others I've had for much less than a year so I'd have to pay a good bit more tax on the profits if I did that.
 
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jimdron

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I started using Apple computers around 20 years ago and stopped using any Windows machine around 18 years ago (Macintosh was so good). Bought Apple stock around 13 year ago, bought some more around 10 years ago. Earned crazy profit on that (this was pre-iPhone). Bought Facebook and Twitter stock, thinking I understand tech. Facebook went up like crazy and earned me something like 800%.Twitter was below my buying price for ~ 10 years and lately went above that. Inspired by that bought Snapchat stock a year ago and it went 250-300% up.

So, I am not cocky at all. Investing just very small amounts of money I have around. And buying stock which is very much at bottom, but I feel that their business is misunderstood by tech-naive mass investor.
 

TheInvisibleStoner

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Shit, BTC correction coming it seems. Panic selling happening. Actually it just bounced a bit.

This is where we will see what happens. Wild it came up to 40k. People are just taking profits I think. And the dip will be bought.

The true test with BTC going to be when (or if) we have hard correction in the market will BTC follow. Don't forget BTC fell back to near 3k due to the markets being crushed in dec 2018 into january. Last nice correction we had in the market. I love the weeks and weeks of blood. If we have one of those, but I don't think so even. So much stimulus is coming market might just keep going up.

25% up in just a few days... I would take some profits on anything high risk. That is like a solid yearly return :) Be careful with those. At the same time best to learn with just a few k in there. There are people that dump complete life savings in and lose half and in deep shit. Losing something that just took a few days of work is no biggie and how you will learn.

As for the tax question. For high risk and high gains I will take profits. Have to since those can fall fast. Some index like ITOT I have, I will never sell. When (if) it falls I will add more. Really I have to figure my own shit out soon since hedged too hard on expecting a fall. If no fall I will lose more than I gain. Gold will be holding. Was thinking maybe getting a little BTC past the $10 or so a day my miners make. Need to see what it will do 1st. Lost some money in 2018. But was still up from 2017 huge and mining. Could of made out way better, not letting that happen again lol.
 
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TheInvisibleStoner

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That's the thing. Stocks are going beyond fucking crazy now. MM in a funny position. They have to get enough shares to cover their contracts, but they also cannot crash the index because of all the puts.

Lots of this stuff is once in a lifetime.

I would think after this weekend we would see at least something. Not even 20 points down this morning.

They are already calling him Joe Buy Dem Dips!! And market turned anti trump overnight since big tech block all trump. Thanks for making us rich trump! Now you are blocked lol.

Its going well into a year of a market that makes no fucking sense. Stocks only go up? Or are the guys warning of correction the real deal?

Good thing I'm not really a stock broker. I blew up my account too many times trying funny shit. But on the edge of my seat here. Only 9 more days at least. I remember when I was thinking only 100 more days. Finally its down to single digits. Then I go back to just normal investing.

I don't think BTC itself is a scam. Lots of little scams nested into crypto is the only issue. Its very volatile, though.
 

Cheshire_Kat

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Many scams use bitcoin as a buzzword to draw their "marks" in but BTC itself is not a scam, it is simply a store of wealth. These scams have been going on for at least 4 years in one form or another and generally take advantage of the FOMO (Fear Of Missing Out) factor present in most people. The correct way to invest in BTC is to either purchase it or mine it and hold it in your own wallet. There is no free BTC in the world and those who tell you there are either misinformed or trying to scam you.

All forms of investment is high risk. One should never invest more than one can piss away without any problem. BTC is no different in this respect.
 

Xorkoth

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Well, probably should have sold when I had 25% profit on Friday, but alas, as Bitcoin is heading into a correction, and between Friday close and this morning, there was a huge drop in bitcoin mining companies... I decided to sell out. Hey I made about a 3% return. 😁

Gonna wait out the next few weeks before considering re-investing in something. Shit could get really ugly.

At least my Canadian weed company stock is still plugging along, unaffected by Bitcoin and America's identity crisis.
 

TheInvisibleStoner

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At least you got your 1st fun sample. Pharma stocks are like that too. Can go up crazy and down crazy. Definitely take some profits on stuff like that.

Check out the psychology of trading ebook on youtube. I feel like I mentioned this before to someone, but has lots of good info. Its outdated, but he was a floor trader and talks about a lot of good stuff. Especially what actually moves prices over time. Lots of good traders on youtube. Its always fun to put aside a little money and do the occasional fun options gamble. Like going to the casino.

3 fund portfolio is good. For your base forever shit. Just keep buying the dips forever.

There shorting and inverse too. Bull shares. Decay on shares. There its lots. Simply buying the dip on bullshare in trump market would of made 10k into multi millionaire. Yolo nakes calls on telsa a billionaire and kinda whats fucking up the market. The bitcoin of stocs. Lots of newbies got rich. This is why people say Trump is free. But he turned the market into the most un-free thing ever. Very excited he is leaving.

While sadly lots of old guys got washed out in dec 2019 / jan 2020 since they were expecting a crash. Lost their credit and shit since there was the exact opposite. Most insane run ever. There are still lots still talking about it. Has to. No way what trump did + pandemic can mean this all time high market. lol its crazy.

You can go on stock twits too but if you don't like trump, your blood pressure will go up. I haven't checked in a few weeks since could not take it any longer. maga maga maga. Joe buy dem dips is coming to get you guys!
 

Xorkoth

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yeah I see, because it's shooting up up again, as Bitcoin surges back up a little bit. Funny, RIOT and MARA are almost exactly mirroring each others' every move. I'm going to just watch it and try to learn something until we get past this crazy time.
 

usual-suspect

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It is really wrong to be a permabear, but it is good to never forget that markets can drop anytime.

A nice video explaining on historical perspective how hard can be to stay invested in market crashes. And mentions two important things: your age and how much money you have in. You can skip to around minute 12 where starts reviewing historical crashes.


It's very difficult to time the markets. Specially if you are not a professional. It is quite delusional to believe you can do that during all your lifetime. The only way I find protection without going crazy is having some % of your portfolio permanently allocated in protective assets (cash and gold). Right now for example I am around 50% in stocks, 25% cash, 15-20% gold, 5% BTC. I dismiss bonds in this climate of zero interest rates, as I see a spike in rates could make them fall sharply.
 

thujone

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How is Tesla at 700+ billion market value?
They made 500k cars last year, 700 billion is larger than Facebook, what a joke.

I'm guessing buyers are a mix between Musk fanboys and people trying to make a short term profit but I mean, it should be worth 1/50th of that no?

Tesla also makes PowerWall and PowerPack, not just the cars. These energy storage solutions will pair well with a huge growing demand for renewable energy (solar & wind) in the U.S., where Tesla is acquiring the raw lithium for and mass producing these products. The company's roadmap looks promising.

I get the feeling there's going to be increased focus on other types of energy storage solutions as well, so it could be worth doing a bit of research into companies specializing in those.
 

TheInvisibleStoner

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It is really wrong to be a permabear, but it is good to never forget that markets can drop anytime.

A nice video explaining on historical perspective how hard can be to stay invested in market crashes. And mentions two important things: your age and how much money you have in. You can skip to around minute 12 where starts reviewing historical crashes.


It's very difficult to time the markets. Specially if you are not a professional. It is quite delusional to believe you can do that during all your lifetime. The only way I find protection without going crazy is having some % of your portfolio permanently allocated in protective assets (cash and gold). Right now for example I am around 50% in stocks, 25% cash, 15-20% gold, 5% BTC. I dismiss bonds in this climate of zero interest rates, as I see a spike in rates could make them fall sharply.

This is your first normal post. Did you blow up your account finally and come to terms with reality :)

I think bonds are just fake tickers. Buying and selling moves the prices. Nothing in relation to bonds, or I cannot find. Check holdings for AGG for example and blank. I don't mess with bonds really either.

Gold is good, its gonna go up more. Not down, no way.

That was a nice dip to buy on btc, riot. Wish I got some. BTC gonna keep pushing. The fomo is too much. Too much btc is lost. Everyone wants some, not enough to go around. More stimulus is coming. Big time traders are mad too. You know they all have some btc.

xmr good too. Its the criminal currency. It will go nowhere.
 
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thujone

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Note that the bet was made in Bitcoin, either an early HODLer with the cheddar to spare on such a gutsy bet... or a certain exchange trying to keep that Tether ponzi scheme going :\

I've been perusing ETF holdings and thought it was kind of funny that Canopy Growth (TSX:WEED) is part of the iShares Global Healthcare portfolio.
 
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