Let's talk about money - The Finance Thread


#2141

John Wick Continental-Coin needs to come true.


#2142

bruh even tho the world was ending i still meant everything i said. its been fun arguing with you all these years. nothing but love and respect, no homo. i still don’t think picking stocks is good, but if youre going to, warren buffets mentor was ben graham who wrote the intelligent investor. i think going with fundamentals is better than doing technical analysis, most of which seems bogus to me (see book: fooled by randomness or random walk down wallstreet)


#2143

Technical analysis does work, but i agree fundamentals in the long term has a higher percentage of paying off.


#2144

before getting into it I thought technical analysis was complete bunk, but I am continually seeing it work. Before investing I watched Biotech stocks but never had the gumption to enter. I would read technical analysis on the charts and think these people are crazy thinking that the dips and peaks are driving the price rather than the actual RnD areas, clinical results, pipeline, competitor ish, etc. But with such a binary sector I think relying on technical analysis is probably still just a crapshoot. However in the sector I am focusing on now, which is highly speculative, it is working in spades. I just assume that the other traders are following the same technical tricks/guidelines. Does this sound like a house of cards? maybe
hahaa
and I still dont trade biotech, even though I probably know the most about that particular sector


#2145

biotech is my biggest money maker every year. i usually trade the 3x levered version of XBI, its called LABU. i trade that purely on technical analysis, of course its hit or miss, but for the most part if the overall market is in good shape and there is a pull back to a major moving average, its a good buy signal. but that goes for technical analysis and fundamentals, its all in context. stuff like what the state of the market is, what the sentiment in certain sectors is like, how earning reports are perceived by the big funds rather than just if they beat or not, you have to take all that stuff into account.


#2146

Crypto-related: Someone did research on BitConnect organization after North Carolina and Texas sent a cease-and-decease letter.


#2147

Crypto on Robinhood, they’re going all in!


#2148

Re crypto: GBTC does a 91 for 1 split tomorrow; I can finally trim. The reverse splits I have been a part of (commodity ETFs) have always seemed to be a part of gradual devaluation/contango. Should I expect a reciprocal boost from new money coming in at the outset here?

LABU, i will have to put that on my watchlist and see how it behaves

Surprisingly, US weed sector is still rallying but I am keeping my distance. A number of Canadians pulled back hard today, I am slowly buying dips incrementally. Will see if it continues tomorrow. CNBC pumped last night and gave air to shorts today - mainstream pump and dumps?. Would love to see a well timed dope PR at these lower prices to squeeze those shorts.


#2149

Amazon has been killing it lately. I bought more shares, and just letting this ride to the promise land. I trimmed my portfolio down some more and diversified myself among the 10 market sectors. I also added some of my personal favorite stocks among car manufacturing and e-sports. Here’s where I’m at:

AMZN (Tech) x 3
JNJ (Health) x 3
BA (Defense/Aerospace) x 3 (I have a great position with them, been holding for a while)
PEP (Consumer Staples) x 3
HD (Consumer Discretionary) x 3
BAC (Financials) x 3
GM (Car Manufacturing) x 3
BABA (Internationals) x 3
ATVI (e-sports) x 3
RDS.B (Oil/Energy) x 3
MMM (Industrial) x 3
ED (Utilities) x 3
O (Real Estate) x (goal 50-100 shares, pays monthly)
VOX (Telecommunications ETF) x 1
SPY (Materials ETF) x 1

13 stocks, 2 ETFs

I plan on starting an M1 Finance account soon, maybe some weed plays or gold/real estate. They offer no fees now, which is attractive to me.


#2150

Ken34 and others using leveraged ETFs:
Do you hold these or flip daytrader style? Apparently the daily rebalancing that these ETFs undergo can wreak havok with you perceived gains if you hold across the overnight reset. Because of this daily rebalancing if gains are followed by losses even if the listed value of the 1X item that the ETF is designed to track returns to around the same point as where it started, you would likely accumulate a loss with the leveraged product. This link explains it a little better with some added info:
https://marketrealist.com/2014/06/leveraged-etfs-1-day-return-objective-daily-rebalancing
This certainly is consistent with my experience regarding the leveraged commodity ETFs (which I simply attributed to the generic contango, but this article explains a little bit of where the effect comes from). It would seem that these leveraged ETFs are just for short term gains only. Correct? What is your experience?


#2151

ive held for weeks at a time before, but ideally you dont want to hold long at all, if u can flip in one day , thats optimal. sometimes the gains are so insane in them, the you can hold for a week, just depends on the move.


#2152

i’d rather play table games like bacc than invest in crypto currency


#2153

Instead of O I got 3 shares of NVDA. $Long NVDA

O is near the 52 week low though.


#2154

MtGox all over again.

500m+ worth bitcoin hacked last Friday.


#2155

lol


#2156

Dow slips -600 points. Whispers of a major correction were everywhere, with people panicking and losing their minds. Thousands of dollars were lost, people freaked out transferring their money over to gold, and setting up all these bonds.

It’s only a loss if you sell, just don’t touch it man. Don’t even look at the stock market, what goes down must come back up and vice versa. Leave your money in the high yielding dividend blue chip stocks, because at least that gives people more incentive to hold those. If you can do all that and don’t follow the matra, you’re golden.


#2157

no need to panic, people just forgot what volatility feels like, if anything the market going straight up all last year was more bizarre than this. ive been in mostly cash since midway through 2017 mainly playing amd and holding T, i could finally buy some stuff today.


#2158

The stock market is still up since a month ago. It’s a little ridiculous to panic.

Bitcoin, meanwhile, is down to something like $9000 and I wouldn’t expect that to be coming back up.


#2159

Yeah, I am totally not panicking lol. I’m still outpacing the S&P by a fair margin.

There’s some interesting news around all the stocks I own. Microsoft wants to buy EA (though I dunno why, they’re garbage). This could be big for E-Sports though since I dropped ActiVision again.

BRK, Amazon, and JP want to get together and start a healthcare company. I own all 3, so I’m keeping a close eye on the news.


#2160

Canadian pot stocks in meltdown. I am a buyer. Looks like ~50% retracement from highs, and most have cut right through the 50 dma. I think the bloodletting will stop soon and I expect new highs in a rally to coincide with national legalization this summer. We will see.