Coronavirus/Economy/Stock Market

[svelte]

Wow, we’re all doing well! Beating the indexes!

Can’t sneeze at that.

[scaredyclassic]

I was tempted to go all cash during the crash but realized it was too obvious to do and so refrained.

[Coronita]

[quote=svelte]Wow, we’re all doing well! Beating the indexes!

Can’t sneeze at that.[/quote]

I’m really thankful that at least for now financially I have been mostly unaffected by the covid induced downturn despite my company initially being the first one affected by all the closures. We’ve had to scramble to reinvent ourselves very quickly and even so, it’s no walk in the park. We aren’t out of the woods yet so we will see. Knock on wood. The need to do contact tracing for many companies has helped us pay the bills …. for now…

And the only reason why my portfolio looks good is because in my trading account, I regularly move in and out of positions, which while normally underperforms indexes in the past,.in the current volatile environment has worked out well. How long it lasts, who knows, but I did a few weeks ago swear I was going to sit out the rest of the year….only to reenter a small position when the Dow fell back to 25k…..Now that it’s 27k again, if the 500pt futures rise hold up in the regularly trading session, I’m going be moving back into more cash.

Damn Robinhood day traders that drove Tesla to $1790/share….lol

Anyway, folks doing well, count your blessings and give thanks …and try to help those around you that light not be so lucky… You never know what tomorrow brings…

[svelte]

[quote=Coronita] We aren’t out of the woods yet so we will see. Knock on wood.
[/quote]

I agree…we’ve just been through round 1. The only thing keeping the market up is people being afraid of missing out on the upside and interest rates being so low there is nowhere else to make money. Neither of those is a good reason to buy stocks.

[quote=Coronita]
And the only reason why my portfolio looks good is because in my trading account, I regularly move in and out of positions, which while normally underperforms indexes in the past,.in the current volatile environment has worked out well. How long it lasts, who knows, but I did a few weeks ago swear I was going to sit out the rest of the year….only to reenter a small position when the Dow fell back to 25k…..Now that it’s 27k again, if the 500pt futures rise hold up in the regularly trading session, I’m going be moving back into more cash.

Damn Robinhood day traders that drove Tesla to $1790/share….lol
[/quote]

I have a feeling it will have to drop again also. I thought it would have done so by now, but it hasn’t.

Musk gets paid at certain dates based on stock price correct? I think that is why the stock price is so high. But how he’s been able to get folks to buy in, I have no idea. Tesla stock price is pure fantasy. I just don’t understand it.

I think when all is said and done, someone is going to find they cooked their books somehow. I could be wrong, but that is what my instinct is telling me.

[quote=Coronita]
Anyway, folks doing well, count your blessings and give thanks …and try to help those around you that might not be so lucky… You never know what tomorrow brings…[/quote]

Nice thoughts flu, and a very needed reminder right now. Patience is running very thin I’ve noticed in general.

[Coronita]

I forgot who said this here awhile ago, but they said when the markets are volatile , take smaller bites more frequently.

That’s what I’m trying to do in my trading account. I’ve been in and out of things like with really small hands. Each hand might not be that much, and I’d things come crashing down, the downside is mitigated. But doing this 20-30 times, builds a decent return. And trading commissions are now $0. So there are times if I get spooked, I’ll sell something with even when it’s just like $1 total gain. lol.

[Coronita]

and like every other time after a strong initial opening, now mid-day, the markets have given back a good portion of the earlier gains, with nasdaq turning negative. I sold some things shortly after opening bell. Getting use to this sort of pattern

[scaredyclassic]

groping around in the darkness for a top, scared by the slightest sound.

if you had to buy and hold something for 24 months, there’s no way you’d let money just sit unmonitored in the stock market for 2 years outside a retirement account.

id say the the risk of being in the stock market seems to me a 20% chance of gain, 30% stable, 50% loss.

however, id feel perfectly comfortable letting gold stocks sit unmonitored, justs et and forget for 24 months.

but i dont beleive in the system.

The risk of holding gold, seems like 50% chance of a gain, 30% stable, s0% loss.

the problem really is impossible to tell the path we get to to get anywhere. it can be so crazy to get where your’e pretty sure you’re going.

[Author]

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