Investing, Stock Market and Retirement Planning Thread

[NTP66]

I'm saving $150/month by not having to commute to work, which is very nice.

[mac5155]

I figure 25 bucks a day, between gas (150 Miles} and being a sucker and spending 10 bucks on lunch.

[NTP66]

I didn't factor in my morning latte and lunch, though I bet it'd add up quickly.

[mac5155]

Though I am addicted to stopping at get go to get BOGO diet dews when I drop lil Mac off at daycare twice a week

[mac5155]

Can someone ELI5 why the market is soaring

[NTP66]

Nobody **** knows.

[mikey]

It was fulfilling a six-months-in-building gap (using SPY as a metric) to 333 last week. Once it finally hit that gap, it was time to either crash or blast through towards ATH territory. It fiddled around for a bit and then broke the resistance, which gave bulls a ton of confidence in pushing it to new heights...talk of a stimulus and all that funny money that your Gods print indiscriminately for anyone and everyone gives even more confidence...

The next resistance point will probably be like 340-342 area, but also be mindful of the month before the election...I imagine that Republicans will do anything they can to keep the economy looking strong going into November, everyone else will do the opposite. So, I'd buy the little dips that you'll see here and there (OSTK, SQ, even an ETF like ARKW makes sense) and then kind of re-evaluate in early October. If we get through the election, then in 2021, I'd be very scared of the bottom falling out and the market dropping 15-25% overall. But until then, stonks only go up...so just type in some letters and hit buy...

[mac5155]

Tomas? is that you?

[mikey]

Nope! He's smart.

This is Mikey Daytrader at your $$$ervice.

[mikey]

Could be a dip here, but it shouldn't be super significant. Worst case SPY 317. Likely higher than that. Then it will rebound pretty quickly to 328-333. Then we'll see..probably should be pretty bullish from there. Good buying opportunity coming up real soon I'd bet...NFLX, SLV, ARKK, QQQ, etc.

[dodint]

...time to either crash or blast through...

This is how I knew it was mikey.

[mikey]

Could be a dip here...

There's that dip I was talking about. It's about to hit resistance. We'll see about the overnight and what China does...

Could be a nice time to buy the dip, even if you end up holding the bag for a week or so...

[NTP66]

Good article on deposit account trending in 2020: https://www.depositaccounts.com/blog/de ... demic.html

Side note: Though I guess I shouldn’t be, I was surprised that more than half of the total deposits in Q1 went to just four banks (Chase, BoA, WF, Citi).

[Troy Loney]

https://www.cnbc.com/2020/09/02/stock-m ... -news.html

Looks like a bunch of Robin Hood traders hit their put price for tech stocks, lol.

[NTP66]

S&P500 finished almost 4% lower. I probably shouldn’t complain given how it has been killing it lately...

[mikey]

I made bucks on shorting stuff today...the first three days of each month have been pretty poor...eventually we'll run out of rebounds...probably some manipulation to make sure Trump doesn't get back in...

[NTP66]

If you told me a few months ago that my retirement accounts would be where they are as of today, I'd have called you a clown and laughed at you. None of this makes any sense at all, and if the correction isn't awful, 2020 will end up being an okay year in the market. Somehow.

[mikey]

It really is bizarro world...I do plan on yanking a big chunk of money out (not of my 401k) of the market in the next handful of weeks...because it can't go on like this and they gotta pull the carpet out on Trump I imagine...I'll buy back in late in 2021 probably when I suspected SPY will be in the 280-310 area...

[MalkinIsMyHomeboy]

still going down

why has the market been nose diving the last two days? A correction or is something significant happening macroeconomically?

[Troy Loney]

still going down

why has the market been nose diving the last two days? A correction or is something significant happening macroeconomically?

Volume trading. Nothing has changed for the worse.

[Dickie Dunn]

Other than things being extremely overvalued by traditional metrics (tech up 70% since March? Get the **** out of here), who the hell really knows anymore.

[MrKennethTKangaroo]

Other than things being extremely overvalued by traditional metrics (tech up 70% since March? Get the **** out of here), who the hell really knows anymore.

The fed

Edit: and people that have decided that tesla is worth 3.3 times what it was worth at the start of the year because...well just because.

[Troy Loney]

The tech rise seems to me to be people dumping money into stocks that are safe and clearly in position to come out of covid strong.

Tesla? I wouldn't consider them as part of the google/apple/amazon echelon, but sure. Luxury electric cars likely to keep growing.

[mikey]

Anything EV = $$$

Look at NKLA...they don't have employees, factories, nothing...they have made as many cars this year as you and I...I think their lone source of revenue this year was when they installed solar panels on the CEO's roof for like $30 grand...it still went up to like $90 (free money for mikey, thank you) and then plummeted when everyone realized it's nothing...

You attach EV to anything and it will DotCom balloon for at least a little bit haha

[mac5155]

Doesnt the market... Want trump? Why would they try to get rid of him?