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2 minutes ago, Trey3216 said:

Why not harvest half the profits and buy 380 puts.   That’s 5% lower and would be house $$ as well.  

I will at some point, thats basically what i did in 2020 (over and over). I'm no options expert, so I'm sure I'm not taking the optimum route. I just havent had much time to fuck with trades this week because I was in a week long sales conference. But if the markets repeat what they did a couple of years ago, I will be a put buying machine..... and likely also stay short way too long.

I dont think the fall will be as drastic in as short a short period of time, but I also dont think the market will rebound nearly as strong. At some point the air needs to come out of the balloon. If the fed raises rates and trims the balance sheet (who knows if they actual will), whats going to drive the markets when free money is gone and we enter a recession? We gonna try negative interest rates in an inflationary environment? 

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S&P500 now down over 1% over the past year. Pretty crazy

1 minute ago, KYHorn said:

S&P500 now down over 1% over the past year. Pretty crazy

We fucked around and found out.

3 hours ago, Harrison Stafford said:

I’m taking my ball and going home.

Hey, you know the mantra 

Buy the dip, buy the dip, but the dip!!!

 

 

Follow-up to my rosy post a few up:

- Worst single month since 2008.  You remember 2008, right?  I thought you did.
- Market is pushing hard for that coveted 4-digit plunge as I write this.  Wait for it... wait for it... man, this is exciting!!!  Got dammit, some last-second profit taking pushed the sucker back under 1K!  It quickly shit below the magic line, but popped back up.  MASSIVE rally only took it to -937.87.  How anticlimactic...

Nevertheless, the wealth lost today and especially this month can only be described as such:

BladeRunnerRoyBattySpeech.jpeg&f=1&nofb=1

Is this month really worse than Mar 20?
1 hour ago, tbone_ said:


Is this month really worse than Mar 20?

Nope, 2nd to that.  
Nasdaq worst since 2008 though.  Sorry my bad.
So, hey, it's all good today!

Yeah I think we're kinda fooked.

I’m still young and don’t mind index funds being on sale for a while.

Just watched “Too Big to Fail” last night.  We were a hair’s breath from compete financial collapse.  We’ll bounce back.

The book is better

Same with the big short

20 hours ago, Parliament said:

Yeah I think we're kinda fooked.

As someone who lived through 2000 and 2008 this shit is nothing so far.  Now the inflation aspect definitely makes me worry we're repeating the late 60s, which would be very very bad.

In all the retirement Monte Carlo calculations, the absolute worst time to retire was the late 60s.  High inflation and a sideways market for about 15 years.  That would fuck a lot of people.

The preacher man says it's the end of time
And the Mississippi River she's a-goin' dry
The interest is up and the Stock Market's down
And you only get mugged if you go downtown

My opinion is that June through September of this year are extremely important.  We will see some rough times this quarter and possibly even recession (which is looking more and more likely), but the eventually ironing out of supply issues over the summer combined with continued relatively cheap access to capital and shifting demographics and social attitudes would keep general demand high, unemployment low, wages rising, and overall growth at least moderate.

My primary fears are an overreaction resulting in a dramatic shift in sentiment that becomes a self-fulfilling prophecy, and/or companies generally overtesting margin limits to prevent the recession/downturn from being temporary.  Hopefully most don’t feel the need for margins to go up along with wages.

18 minutes ago, Snake Diggity said:

eventually ironing out of supply issues over the summer

Not looking for a slap fight.

 Hasn’t this been the narrative for over a year?  That it’s going to get better over, “the next 90 days”.  Given China’s current lockdowns I can’t see it.

 

21 minutes ago, Snake Diggity said:

My primary fears are an overreaction resulting in a dramatic shift in sentiment that becomes a self-fulfilling prophecy, and/or companies generally overtesting margin limits to prevent the recession/downturn from being temporary

There is a feedback loop on everything from wages to raw materials.  There has to be a fairly significant slowdown to stop it.  I don’t want it, but am convinced we need it.

20 hours ago, wild_turkey said:


I’m still young and don’t mind index funds being on sale for a while.

I’d been sitting on 20-25% cash until Friday. Dumped it all into VTI. Can’t time the bottom, but if it keeps heading down I may sell a car for some extra cash to throw at it. 

26 minutes ago, Immaculate Vibes said:

Didn’t realize how concentrated Buffett has gotten in aapl. 40% of portfolio. 

And Bank Of America which sucks ass as a bank.

Next big hit is going to be chemical companies.  Feedstock is usually natural gas.  

4000 on the S&P looks like it's going to happen, then hold on to your butt.

 

shit, fuck, cocksucking, fuck, fuck, fuck.

3 minutes ago, Incredulity said:

4000 on the S&P looks like it's going to happen, then hold on to your butt.

 

shit, fuck, cocksucking, fuck, fuck, fuck.

Using Elliott Wave, a proper pullback from the last (5th wave) extension would put us at the 2300 level.  Talk about pucker factor...

1 minute ago, Trey3216 said:

Using Elliott Wave, a proper pullback from the last (5th wave) extension would put us at the 2300 level.  Talk about pucker factor...

Sweet Jesus.

2 minutes ago, Trey3216 said:

Using Elliott Wave, a proper pullback from the last (5th wave) extension would put us at the 2300 level.  Talk about pucker factor...

disappointed phil lamarr GIF

2 minutes ago, Trey3216 said:

Using Elliott Wave, a proper pullback from the last (5th wave) extension would put us at the 2300 level.  Talk about pucker factor...

Ugh. I dumped so much in around 2500 back in March 2020 but because of the tech fall i'm below where I was then. If it goes down much more from here I might have to call game over.

21 minutes ago, Incredulity said:

power hour engage.  LULZ

Yep.  Rolled my UVXY calls from last week to this week.   Fucker was up huge around lunch.  Came out of a meeting about 30 minutes ago to see my position has gone from up 60% to down 25% in about 40 minutes.  Nice.  

FOMC rally week/dead cat bounce commence. 

5 hours ago, Trey3216 said:

Using Elliott Wave, a proper pullback from the last (5th wave) extension would put us at the 2300 level.  Talk about pucker factor...

What the fuck is wrong with you?!

44 minutes ago, Parliament said:

What the fuck is wrong with you?!

Nothing.  I said the same shit in March 2020 when we didn’t quite get back to the level that would have brought equilibrium to the market.    I’m just using a few technicals to see levels.  

Got a string of luck today. Sold and bought SPX futures multiple times on the right side of the trade. Then almost bottom-ticked it perfectly at 4070 and rode it back to the top. 
 

Sounds nice and boastful, except got donkey-slammed on long gold, further underwater on EUR futures (should’ve put on stop-loss)…and some of my long gamma gambles were mistimed and expired. 
 

:farting noises:

FOMC Groundhog Day. 50 point sell off following by 150 point face ripper up.  Again.

On 5/2/2022 at 3:02 PM, Anastasis said:

totally rational and very cool. 

Just going to repost this. 

Bear markets are where you make money. Keep dumping the same amount of money (if not more) daily/weekly/monthly-- whatever your cadence-- and dollar cost average and max everything out and in a few years you'll be ecstatic. Because TINA.

Unless in a bear market versus a bull market you all of the sudden don't have access to disposable income to invest, then that sucks.

Edited by Vegas64

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