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  • That's why I'm out. There is no end game, IMO. This has to be fixed outside of the market and I got too nervous about what that entails for retail investors. They will always be last on the list, if o

  • Rusty Shackelford
    Rusty Shackelford

  • I'm not a financial advisor. This is not financial advise. I don't work in finance. I do not have a degree in finance. Actually, I have a BA and I'm bad at math past Cal I. I won't apologize for the l

Posted Images

Just now, SuingToGetAMessageBoard? said:

new at this:  are you keeping track of whether it is a short term or long term capital gain before you sell for taxing?

Not right now if you’re that concerned.  

Quote

Service Down. The three major U.S. stock market indexes fell as investors continued to worry about the coronavirus, and the Markit Services purchasing manager index unexpectedly came in below 50, the dividing line between economic expansion and contraction.

Economists had been expecting a reading of 53.4, so the reading of 49.4 represented a big miss.

The price of oil slumped 0.7% as investors revised their views on economic growth. Haven investments rose, sending yields on 30-year Treasury debt hit a record low, and lifting gold by more than 1%.

The Dow Jones Industrial Average dropped 207 points, or 0.7%. The S&P 500 lost 0.9% and the Nasdaq Composite fell 1.3%.

Okay, is it time to divest?

58 minutes ago, SuingToGetAMessageBoard? said:

new at this:  are you keeping track of whether it is a short term or long term capital gain before you sell for taxing?

yes.  but i have a terrible track record at this thing. 

4 minutes ago, Anastasis said:

Future markets look fun. 

It's like gambling, but without old people next to you smoking cigarettes.

31 minutes ago, Anastasis said:

Future markets look fun. 

 

giphy (4).gif

 

I'm not selling stocks, but I have a growing assortment of short term options that should do well if the market takes a shit over the next several weeks months. 

Edited by Blotto

38 minutes ago, Blotto said:

 

giphy (4).gif

 

I'm not selling stocks, but I have a growing assortment of short term options that should do well if the market takes a shit over the next several weeks months. 

Yeah, I have some long-term SPY puts that are a hedge on my portfolio; but just last week I bought some 10-30 puts that will be in the money .... now the game to be played is how long to hold, before theta eats my lunch???

50 minutes ago, Blotto said:

 

giphy (4).gif

 

I'm not selling stocks, but I have a growing assortment of short term options that should do well if the market takes a shit over the next several weeks months. 

Yeah. I am net long but have some options that will pay I. The short term if the market takes a dump. 

19 minutes ago, Wally Fairway said:

 now the game to be played is how long to hold, before  greed eats my lunch???

Fixed it for me. 

23 minutes ago, Blotto said:

Fixed it for me. 

Yeah, deciding when to sell is much harder than deciding when to buy - actually, I've learned to at least take my cost off the table - which can reduce my losses, but it done right can eliminate losses.

3M is apparently able to get masks into stores here in the US.  And people are about to go on a huge buying spree, now that the media is waking up, and other countries are being locked down.

35 minutes ago, atomheartbevo said:

3M is apparently able to get masks into stores here in the US.  And people are about to go on a huge buying spree, now that the media is waking up, and other countries are being locked down.

Anyone in the mask making biz is making a killing.

On 2/20/2020 at 11:00 AM, atomheartbevo said:

And Iran.  They are freaking out.   If it gets going in the ME, it will be hard to contain.  

Viruses tend to stop spreading in the heat.  If coronavirus is spreading in 80+ degree heat we are in some deep shit especially for the short term as a vaccine is developed.  

On 2/21/2020 at 1:41 PM, 4thgenhorn said:

I’ve liquidated a bit more today...highest percent in cash I’ve ever had in my life. Also rebalanced 401k to 15% bonds from 5%. 
 

My timing is almost always terrible, so feel free to take the other side of the trade. I don’t have any quantitative reasons other than things have been outstanding last 4 months...by taking some off I can let the rest ride. 
 

Also today is second down day in increasing volume...sometimes that’s start of a correction...sometimes it’s a buying opportunity. Flip a coin. The correct decision for today will be obvious in six months. 

Since you seem new, maybe you have not been hazed about trying to time the market.  Unless you’re into your 50’s it’s honestly not very smart.  
 

There are people who missed most of the last 14 months ready for that big pullback.  Ouch

 

Still riding.  Actually have a decent chunk of bonds that also did well with equities over the past year - if we get that correction those bonds will really pop and I’ll shift that money into equities.  That’s not really aggressive at 40.  I’m finally a fucking man, might as well invest like it.  

Edited by ChiTownDoc

1 minute ago, ChiTownDoc said:

Viruses tend to stop spreading in the heat.  If coronavirus is spreading in 80+ degree heat we are in some deep shit especially for the short term as a vaccine is developed.  

Hopefully that’s the case here.   Now that everybody has seen shit go down over the weekend in Iran, South Korea, and Italy, it’ll be interesting to see how things play out tomorrow in the markets.

On 2/21/2020 at 12:02 PM, Anastasis said:

Any particular contacts and strikes you guys are buying SPY puts at?

Consulting this crowd for investment advice? Bold move, Cotton.

It will be brutal at the open Monday (unless you have SPY puts).  If the price of GDX moves north of 32, this gold and PM rally is going a LOT higher a lot faster.  PAAS, NEM, and GDXJ will rock.

Merging a couple of themes here, the crappy old Sears on N. Shepard had hundreds of grey N95 masks on clearance Friday.

43 minutes ago, woohorn said:

Merging a couple of themes here, the crappy old Sears on N. Shepard had hundreds of grey N95 masks on clearance Friday.

Time to dig out your old ebay account.

7 hours ago, ChiTownDoc said:

There are people who missed most of the last 14 months ready for that big pullback.  Ouch

I have seen the market give up a year’s worth of gains in a couple of weeks so they may get a second chance. Problem is, if they missed out on the run up they will probably miss out on getting back in as well. 
 

#teambuyandhold

4 minutes ago, workswithseed said:

Time to buy

Yep, my kids have had a decent amount of their savings (holiday money etc.) at a local credit union. Will soon be adding it to their S&P fund at Vanguard.

Welp - let's see where this goes

I'll probably unload 1contract from each of the first 2 at open, then see where the ride goes from there

XcZFa2Q.jpg

Edited by Wally Fairway

10 minutes ago, workswithseed said:

Time to buy

You mean average down?

Dow opened down 1k now only down 850, 150 pt rally!!!

9 minutes ago, Aqua Buddha said:

Finally pricing in the virus.

your avatar is just jelly

 

e7de58aa9dbe7096b46372688c3fcaaa.jpg

 

11 hours ago, Thetexashammer said:

Consulting this crowd for investment advice? Bold move, Cotton.

 

Glad I didn't wait around for these assholes to respond before I made a move. 

Friday before last I pulled all of my "fun" money (the piece of our retirement that I don't just set and forget) out which was primarily SPY at $336.7. I just dumped 1/3 of that back in at 325, so yay, some free SPY stocks for me.  Weighing what to do next with the other 2/3. No idea what next, this market just doesn't make any sense to me these days.

Edited by BradInATX

This ain’t shit boys.  Holding on for some more pain.  Let’s see those bond prices go up.  Bring it!

Sat at home waiting for the market to open and immediately dumped the SPY puts (expiring today) and UVXY calls (this week). Bought those SPY contracts (331 strike) for .49  about 5 minutes before the market closed Friday , and sold them for $6.6 first thing this morning. Held the options for less than 10  minutes of market trading time. Like Vegas on crack. WIll probably give most of it back as I try to recreate the magic this week. 

Have a bunch of company specific plays i'm holding onto as they have a couple of months to trend lower (looking at you AAPL). 

Edited by Blotto

Hold on to your butts.  South Korea closing in on a thousand cases, and Iraq, Kuwait, Afghanistan, and Bahrain have all reported their first cases.  

30 minutes ago, ChiTownDoc said:

This ain’t shit boys.  Holding on for some more pain.  Let’s see those bond prices go up.  Bring it!

No pain, no gain. ;)

Bought some Disney puts last week even though I whiffed on their Q3 earnings last year.  Hong Kong and Shanghai Disneyland aren't reopening anytime soon and Tokyo Disneyland will probably have to go down at some point. 

13 hours ago, ChiTownDoc said:

Since you seem new, maybe you have not been hazed about trying to time the market.  Unless you’re into your 50’s it’s honestly not very smart.  
 

There are people who missed most of the last 14 months ready for that big pullback.  Ouch

 

Still riding.  Actually have a decent chunk of bonds that also did well with equities over the past year - if we get that correction those bonds will really pop and I’ll shift that money into equities.  That’s not really aggressive at 40.  I’m finally a fucking man, might as well invest like it.  

Correct. See: OMG trade war. I’m pulling out/going conservative. 

2 hours ago, Aqua Buddha said:

Finally pricing in the virus.

And/or pricing in Bernie. 

Just now, GRHorn said:

And/or pricing in Bernie. 

That might be a piece of it.  No one has taken him seriously for decades until this weekend.

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