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RIP stocks
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Replies: 35  

RIP stocks

[2]
May 9, 2022, 1:44 PM
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smh

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I just quit looking***

[1]
May 9, 2022, 1:45 PM
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Same. I stopped looking for the most part.

[1]
May 9, 2022, 2:53 PM
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I’m just glad I sold most my stocks back in august when the downtrend started. Held some longterm ones but I really don’t have a lot now except 401k etc which can’t sell them anyway.

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Are you retiring this summer?***

[1]
May 9, 2022, 1:46 PM
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Maybe he is already retired or is or will be semi-retired

[1]
May 9, 2022, 1:48 PM
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or unemployed. Many people live off fully or partially on savings.

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I'll be one of those one day. SS and 401k/ira will be all

[1]
May 9, 2022, 1:50 PM
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my money.

way inflation is going, I'll need at least 7 mill saved up

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you do realize people have individual stocks, dont you?

[1]
May 9, 2022, 1:49 PM
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mine is at 50% less than Jan 1.
i haven't even looked at my ira/401k in months cause no biggie

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Dems sticking it to the rich!***

[1]
May 9, 2022, 1:46 PM
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Re: RIP stocks

[1]
May 9, 2022, 2:04 PM
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NETFLIX -71% YEAR TO DATE...
SNAP -50% FACEBOOK -41% UBER -40% AMAZON -34% DISNEY -30% TESLA -25% GOOGLE -22%

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Tough times create strong men.
Strong men create easy times.
Easy times create weak men.
Weak men create tough times.


Rivian -77%***

[1]
May 9, 2022, 2:18 PM
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But where did all of that money go?

[1]
May 9, 2022, 2:51 PM
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Musk has lost what....$50,000,000,000? What happened to that $50 billion? Or Netflix? Where did 70% of its market cap go?

Trillions of dollars have disappeared from markets this year. I want to know where that money actually is right now. Is it in gold somewhere? Has all that money been cashed in by stockholders....seems that would shoot our GDP WAY up along with tax revenue on all those capital gains taxes.

Someone will figure this out eventually.

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Tough times create strong men.
Strong men create easy times.
Easy times create weak men.
Weak men create tough times.


That's just valuation. The money didn't go anywhere.

[2]
May 9, 2022, 3:11 PM
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If my car is worth $15k this year and $12k next year, it's not like, "Where did that $3000 go??? It must be somewhere!"

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That makes sense, but,

[1]
May 9, 2022, 3:42 PM
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where did the money go?

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Re: That makes sense, but,

[2]
May 9, 2022, 3:45 PM
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https://www.youtube.com/watch?v=s492PMdIaJs

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A lot of the hedge funds sold into retail holders.

[1]
May 9, 2022, 3:22 PM
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Left them holding a bag of overpriced stock. Now when they all decide the market has hit bottom they will add money back in and pump it back up.

If you wanted to accumulate to sell in a few years anywhere in this range is great w the main well known stocks. Plus some growth stocks are down 90% plus and will go back up as well.

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bruh, it's not a closed system in perfect equilibrium.***

[1]
May 9, 2022, 7:01 PM
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That's kinda actually my point.***

[1]
May 9, 2022, 8:08 PM
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Tough times create strong men.
Strong men create easy times.
Easy times create weak men.
Weak men create tough times.


It's a marketplace.

[1]
May 9, 2022, 8:33 PM
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If I have a Rolex Daytona that's appraising at $18k today due to the spike in the market and shortage in supply of Rolexes, and it's worth $13k after the supply chain issues get fixed down the road and the market calms down, is there $5k that "went somewhere"?

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JPow been in cash for months***

[1]
May 9, 2022, 2:05 PM
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null


you gonna change your name to The Bear

[3]
May 9, 2022, 2:07 PM
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now that we're huntin JPow's put strike?

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3,400 apparently***

[1]
May 9, 2022, 6:31 PM
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null


"It's not real money anyway"

[2]
May 9, 2022, 2:10 PM
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what some wonk said after my dad lost 65% of his retirement investments a few months before he retired a couple of crashes ago.

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“When my information changes, I alter my conclusions. What do you do, sir?”
John Maynard Keynes
“Anti-intellectualism has been a constant thread winding its way through our political and cultural life, nurtured by the false notion that democracy means that my ignorance is just as good as your knowledge.”
Isaac Asimov


Re: RIP stocks

[1]
May 9, 2022, 2:25 PM
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https://youtu.be/3cQNkIrg-Tk

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Anything can happen, but the SPY chart looks downright scary

[1]
May 9, 2022, 2:53 PM
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spy050922.PNG(81.7 K)

from a technical perspective. SPY just broke below 400 and recent support levels today, and there is not another significant support level until all the way down at about 246, which was all the way back in early 2020. It may not be a straight plunge down, but there's nothing there to catch it or slow it down. Barring some really good news to turn it around, the market looks set to lose about half of it's value from recent highs. Even then, something major perceived as positive will have to happen, or it could plunge further.

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"Democracy is the theory that the common people know what they want, and deserve to get it good and hard."
- H. L. Mencken


we're doomed1!1***

[1]
May 9, 2022, 2:59 PM
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Whysay?

[1]
May 9, 2022, 3:12 PM
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I mean I invested my life savings in a company who is valued at right about 200 or so years of profits, and it never even turned a profit for the first 14 years. Seems like a sound investment for my life savings.

Just know this market drop is different than all others, in the past 30 years at least. It's not because of bad mortgages, that were sold into the derivative market and used to finance other debt. This isn't bad unemployment numbers, or a slack labor market, or bad economic numbers, or poor earnings. It's a whole other animal most under 40 have not seen.

Warren Buffett recently said, the best asset anyone can own, is having a skill that is needed. That's never changed.

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Tough times create strong men.
Strong men create easy times.
Easy times create weak men.
Weak men create tough times.


Without fail, every time I ever hear someone say "this is

[1]
May 9, 2022, 3:28 PM
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completely unlike anything that's happened before", it usually turns out to be exactly like something that's happened before.

Stocks go up, stocks go down. It sucks because of all the money I'm losing on my 401K right now, and how it affects peoples lives if they lose their job because of it, but from a realistic perspective, I remember the same thing in the late 70's-early 80's, '91-92, in 2000, and then again in 2008. Here we are again.

Houses are STILL selling within days around here, with multiple offers and "highest and best" happening daily. I wanted to go look at a house yesterday that came on the market Friday, and my realtor told me it had "multiple offers" and the owner was deciding what to do with them. The house I bought and flipped in 10 days closes next Monday, cash, with no exclusions. And almost every new car and truck that comes on a dealer lot is sold before it gets here--and that's with $5.50/gallon (and climbing) diesel. Yesterday I drove to 4 different restaurants 20 miles apart to "only" have to wait 2 hours in line to eat.

Our economy isn't crashing, and we're not defaulting on our debt, at least not yet. We've been long overdue for a correction; that's where we are right now. If the fed came out tomorrow and said they weren't raising rates any more this year, the DJIA would prob gain 2000 points in a day. Frankly, I don't know what people expect; we've been on a pretty solid upswing for prob 10 years or more; do we expect it always to last forever?

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Existing bonds have been tanking right along with stocks

[1]
May 9, 2022, 4:52 PM
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I don't remember seeing that before. They usually hedge each other. New bonds have good rates but you cant sell existing bonds right now for much. You just have to hold them until they mature.

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Re: Bond prices always fall when interest rates rise

[1]
May 9, 2022, 6:53 PM
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See "subject" line.

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You are correct, it has happened before.


May 10, 2022, 1:19 PM
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I was totally wrong. And yes, it will happen again, and sadly for much the same reasons. But people alive today don't remember when it last happened, nor do they know WHY it last happened. The situational things are strikingly similar, and then again the depth of the problem is far more acute today.

Biden will be giving a speech tonight. I might actually watch it, would be my first. Not to be informed, but to learn about the flavor of spin. All I know is whatever he says, will be what has been deemed what we NEED to hear. And that assumes he can properly string the sentences together.

2022 orange level memberbadge-donor-15yr.jpgringofhonor-tiggity-110.jpg flag link

Tough times create strong men.
Strong men create easy times.
Easy times create weak men.
Weak men create tough times.


Re: Anything can happen, but the SPY chart looks downright scary

[2]
May 9, 2022, 3:03 PM
Reply

Fed has no choice but to tighten the money supply, at this point. It is definitely needed. The further out your investments are on the risk spectrum and the more their growth is funded by debt, the more sensitive the asset price will be to that tightening.

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I'm in SPY 245P 12/30

[3]
May 9, 2022, 5:28 PM
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tonight....we dine in h3ll!!



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Re: I'm in SPY 245P 12/30

[1]
May 9, 2022, 5:32 PM
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Not making any exact calls, but this seems like a pretty easy one to understand... Probably

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Re: I'm in SPY 245P 12/30

[1]
May 9, 2022, 5:35 PM
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It was kind of like a change in oil policy and rhetoric, with a new admin - of course OPEC was going to cut supply.

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Good move - I'm in 300P 1/20/23.***

[1]
May 9, 2022, 6:51 PM
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"Democracy is the theory that the common people know what they want, and deserve to get it good and hard."
- H. L. Mencken


Re: Anything can happen, but the SPY chart looks downright scary

[4]
May 9, 2022, 7:11 PM
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Replies: 35  

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