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Markets still falling like whoa


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  On 9/2/2020 at 10:27 PM, Hmmm said:

Feel free not to read.  Mods may want to delete.  I like how civilized this thread has been and very hesitant to post this.  Had no idea there was a conception of Blue vs Red stock.  It's from CNN so may require auto-ban.  I don't believe most of it but find it helpful to know what others think.  

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The concept is there, the execution on that particular article is pretty laughable.  

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Pre-market is down, US Trade deficit widens by 19% in July, new jobless claims at 880,000.....looks like it'll be another up day once the market opens

Also, someone talk me out of closing most of my option positions into the long weekend, not sure I want to close them, not sure I want to hold them {coin toss}

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  On 9/3/2020 at 12:45 PM, closetohumping said:

Tesla getting hit hard.  Time to dip buy?

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I guess that is what happens when you announce a $5billion stock offering, apparently the dilution didn't sit well with some.
Can't blame them for cashing in on the stock price, hell that cash could allow them to pay some debt coming due in the next few years

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Last night after the bell, GME filed an 8K showing that BoA just lent them another 9 figures. Shares popped 12%, dropped to only 2% this morning, and looking like it is going to climb higher.

I know for the bulk of you guys in here that it is too much of a leap of faith to go long on GME, but there is profit to be made on it in the last quarter, being console launch and holiday season. Especially if it hits $10 and the Robinhood millionaires show up. Even more so if another round of direct stimulus is announced.

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  On 9/3/2020 at 1:33 PM, BevoSwag said:
Hoping this is the beginning of rotation to value stocks.

Small cap, tech, next generation fuels, weed have all had some pretty solid months, where do you think these value stocks are? Oil? REITs? Banks? High paying dividend stocks? Looks like travel has been enjoying a solid week, but man, I think travel getting back to pre corona levels isn’t anything that’ll happen soon?


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Looks like Jpow and the gang must have had a rager last night to celebrate the S&P clearing 3500, and hit the snooze button a bit too many times. Appears they may have finally dragged thier ass back to the printers. 

Also, thoughts and prayers to all Longs who entered the market since .....Tuesday. 

Edited by Blotto
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  On 9/3/2020 at 3:43 PM, Sbbruin said:

This had to be coming.  The run up has been stupid.  

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oh I agree - but it's going to take more than one day (okay - 1/2 a day so far), to convince me this is the start to the correction.
I figured there would be a trigger event, not just that the collective would one day recognize how pricey stocks had become.

TINA is still going to be a big influence, until there is someplace else to put your investment $$$'s

  • Hook 'Em 1
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  On 9/3/2020 at 3:52 PM, Wally Fairway said:

oh I agree - but it's going to take more than one day (okay - 1/2 a day so far), to convince me this is the start to the correction.
I figured there would be a trigger event, not just that the collective would one day recognize how pricey stocks had become.

TINA is still going to be a big influence, until there is someplace else to put your investment $$$'s

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Look international for super big opportunity.

 

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  On 9/3/2020 at 3:55 PM, Sbbruin said:

I’m not gonna paycheck stub my losses today, but they are very significant.  But I do feel like I’m playing with house money a bit.  My gains have been comical lately.

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Truth. I'm not torn up about losing 3% on a 40% run up. I feel bad for those who've been sitting on the sidelines who see this as a buying opportunity.

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  On 9/3/2020 at 1:50 PM, Eastwood said:

Last night after the bell, GME filed an 8K showing that BoA just lent them another 9 figures. Shares popped 12%, dropped to only 2% this morning, and looking like it is going to climb higher.

I know for the bulk of you guys in here that it is too much of a leap of faith to go long on GME, but there is profit to be made on it in the last quarter, being console launch and holiday season. Especially if it hits $10 and the Robinhood millionaires show up. Even more so if another round of direct stimulus is announced.

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That's a huge leap of faith given where we're going to be at in November/December and given with the "new" way Microsoft and Sony are selling their games (online store).  Given the new architecture of the consoles, Microsoft and Sony will most likely be selling these at a loss like they did the xbox 1 and ps4 at launch.  If you read on how they will be supplementing these losses, it's all through online sale of games/game pass.  Stores like Gamestop will be one of the first in line to close up in my opinion.  Will it happen in 2021?  Depends on sales this holiday season, in my opinion.  However, given where we're at in society with people doing most of their shopping through Amazon/online and not by brick and mortar, it's going to be an uphill battle for them and BoA may end up owning Gamestop through bankruptcy when it's all said and done.

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  On 9/3/2020 at 3:52 PM, Wally Fairway said:

oh I agree - but it's going to take more than one day (okay - 1/2 a day so far), to convince me this is the start to the correction.
I figured there would be a trigger event, not just that the collective would one day recognize how pricey stocks had become.

TINA is still going to be a big influence, until there is someplace else to put your investment $$$'s

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Agreed. But with ~25% of trades now being done by stonkers (individual investors)—the highest level in a decade— when it turns, it’s going to get real bad, real fast.

I don’t have a lot of confidence in Joe Schmo listening while JPow and the big guns are doing this:

 

73273000-8C3E-4128-93E6-C288E81D5E19.gif

  • Hook 'Em 1
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  On 9/3/2020 at 4:01 PM, pearlandhorn said:

That's a huge leap of faith given where we're going to be at in November/December and given with the "new" way Microsoft and Sony are selling their games (online store).  Given the new architecture of the consoles, Microsoft and Sony will most likely be selling these at a loss like they did the xbox 1 and ps4 at launch.  If you read on how they will be supplementing these losses, it's all through online sale of games/game pass.  Stores like Gamestop will be one of the first in line to close up in my opinion.  Will it happen in 2021?  Depends on sales this holiday season, in my opinion.  However, given where we're at in society with people doing most of their shopping through Amazon/online and not by brick and mortar, it's going to be an uphill battle for them and BoA may end up owning Gamestop through bankruptcy when it's all said and done.

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All of which may be true, but has little to really do with what he was saying.

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