Down goes the Dow

investing noob wrote:

I FOMO'd MANA at 4.38 LoL. Guess I'll have to hold for a few months or years.

it's at 2.67 as I enter this, and has lost 25% in two days.

Hoping you didn't risk much, but whatever, I think you got a bunch of sound investing advice from us, so there's that.

seattle prattle wrote:

investing noob wrote:

I FOMO'd MANA at 4.38 LoL. Guess I'll have to hold for a few months or years.

it's at 2.67 as I enter this, and has lost 25% in two days.

Hoping you didn't risk much, but whatever, I think you got a bunch of sound investing advice from us, so there's that.

It just jumped to $3.36, I should have averaged down in the 2s. Threw in $882. It's currently worth $681 so not a huge loss. I will hold.

investing noob wrote:

It just jumped to $3.36, I should have averaged down in the 2s. Threw in $882. It's currently worth $681 so not a huge loss. I will hold.

I bought in at 0.27, sold the initial at about .80 or 1.00 I forget. Then just hodl this whole time, actually funny because I almost dumped it about 1-2 weeks ago to swap into ETH.

Prob should've sold at 4.38 haha.

I think we are good, I'm banking on the metaverse thing becoming a meme pump. MANA is the 2nd in market cap and has the most interesting developments. I assume FB will have some sort of meta announcement again soon, which could be the pump ignitor.

all time highs pretty much across the board

SP500

Dow

NASD

not small caps but almost

Mission accomplished.

https://twitter.com/charliebilello/status/1455169077853437952?s=21

Iggy, Hussmann, and the permabear crew go home devastasted!

agip wrote:

Mission accomplished.

https://twitter.com/charliebilello/status/1455169077853437952?s=21

God Bless you Uncle Joe!

Swaglord the realest 123 wrote:

Iggy, Hussmann, and the permabear crew go home devastasted!

You buy the craziest ideas, just like everyone else, and truly believe you always have unique view on the world.

Not that I wish it, but you’ll likely be the devastated one, with your fantasy world framework stripped to its foundation.

Ghost of Igloi wrote:

Swaglord the realest 123 wrote:

Iggy, Hussmann, and the permabear crew go home devastasted!

You buy the craziest ideas, just like everyone else, and truly believe you always have unique view on the world.

Not that I wish it, but you’ll likely be the devastated one, with your fantasy world framework stripped to its foundation.

Care to put a timeframe on that one?

Small caps up massively, Tesla to the moon. Again.

Tech giants treading water, but encouraging that there wasn't a bigger sell-off.

Question for Racket, agip, Seattle Prattle, and any others...

Any thoughts on many of the Covid-related stimulus for "everyday" people ending, having an impact on the markets?

One such being that federal student loan payments have been on freeze since (I think) April 2020. They are set to resume at the end of January 2022. When these payments resume, do you think that will have any impact on the economy/markets?

I personally know a fair amount of people that are not very intelligent or investment-savvy, that have made a sh!t-ton of money with investing in the past year and a half. They seem to be arrogant and overleveraged, since- "stocks only go up". I don't know anything about anything, but I wouldn't surprise me if, in the first few months of 2022, we see a correction of 10-20%.

Things just seem really strange economically in the US right now. Inflation, the Great Resignation, supply chain issues, new market highs everyday, and speculative things like Cryptos and NFTs going through the roof.

Finally, do any of you own/trade Riot Blockchain (RIOT)?

No on RIOT, never even heard of it.

Student loans - i am having a hard time connecting that one as having market or economic impact one way or another.

Covid relief payments - I thought that was over by now. Am i mistaken?

I think there could be a downturn next year. Certainly 10% or thereabouts sounds plausible. Volatility, for sure.

As for the unease, there is a saying along the lines of the markets climb a wall of worry. Perfect example of that we've seen this year.

To my mind, the most interesting thing in all this, by far, was how the smart money moved massively in early 2020 to buy the dip. From what I understand, it was the informed, well-situated funds and big players, at least at first. That kind of positioning is just beyond comprehension. Even from a distance, that was astounding.

seattle prattle wrote:

Ghost of Igloi wrote:

You buy the craziest ideas, just like everyone else, and truly believe you always have unique view on the world.

Not that I wish it, but you’ll likely be the devastated one, with your fantasy world framework stripped to its foundation.

Care to put a timeframe on that one?

Small caps up massively, Tesla to the moon. Again.

Tech giants treading water, but encouraging that there wasn't a bigger sell-off.

It's just about time to cash out of TSLA, again. Or maybe not! Haven't even looked at the short interest.

71% YTD, my gain is yet greater. It, along with actual bitcoin, is all I have owned in the "markets" in 2021. You may think that lack of "market" diversification is insane, but I am diversified in a real way, not in a "market" way.

This has been my best year ever, and I have had some good ones. Question is, where to go from here? Good thing I didn't bow out last year like I felt, and good thing I wasn't just in a "diversified fund". Every year I do great, I think to myself "this is it, I'm out"...and I cash out, and find something else to buy back into.

I am still thinking green economy story stocks. As I have said before, TSLA was a good bet, and will probably continue to be a good bet because the gov is in bed with Musk. They need him, full stop. Want to know what will go up, follow the forced investment. I am still thinking of some foreign stocks, and some dividend stocks. I should lighten up on the TSLA. Will get more bitcoin, hopefully there will be a dip. Don't really like ethereum, with the possibility of serious regulation. Will maybe look for some lightning players.

Anybody have any ideas as to what TSLA can drag along with it? MGA in Canada? I think they're a supplier. Too bad silver is totally manipulated. My fancy non-US RE is well up this year, my lame RE is stagnant. Might look at another higher-end property. Still interested in Iran, uranium, etc., I think there is a play there somewhere. Or a belt-and-road business services company.

IDK what to say. You have to be lucky to really score, and this year it was me. I don't see any particular thing or two that I would do that with in the coming year, although I am tempted to put a bunch more chips on bitcoin, I think it does something before the end of the year at least. There must be something lying unnoticed in the crevices of green tech, carbon credits, etc. that I can buy and not trade aggressively.

“I personally know a fair amount of people that are not very intelligent or investment-savvy, that have made a sh!t-ton of money with investing in the past year and a half. They seem to be arrogant and overleveraged, since- "stocks only go up". I don't know anything about anything, but I wouldn't surprise me if, in the first few months of 2022, we see a correction of 10-20%.

Things just seem really strange economically in the US right now. Inflation, the Great Resignation, supply chain issues, new market highs everyday, and speculative things like Cryptos and NFTs going through the roof.”

😹 That -10-20% correction will likely be a -50-70% bear market. 🤢

Great to hear you're doing so well. And to think, we had you figured for dead, just a couple of weeks ago!

Good luck with crypto. To me, it was always like jumping into bed with something that could end it all, before you knew it. One hint of serious regulation or outlawing it, and it's too late to get out. And frankly, it doesn't even take that - some of the whales start unloading and it's down 25% in a day. 'Oh, I guessed I missed the email on that one!'

Meme stocks, who knows? GME moved today bigly.

If I were to start repositioning, which I am not planning on doing, I would look at small caps at this point. And probably leveraged ETFs in that case.

Best 'o luck to you.

There have been so many hints of serious regulation or prohibition, and some have actually come to fruition.

I will say it again, every single person I know "who matters" holds some bitcoin personally. I think the guy behind Wallstreetbets has applied for a fund based on Pelosi's family portfolio, I would not be surprised if bitcoin was in there. I know he has some (not that he matters).

Whales are IN. They have taken some profits, enough to set themselves up, and are true believers. Any early system requires this type of dogged faith from a hardcore few. Electrification in the early days. BFI. The internet itself. "It will never work" is always met with zealotry from the other side, the only thing that really stops it is a superior competing tech or business system. No such tech or system yet exists, as far as bitcoin is concerned.

Gov is bad at outlawing stuff, but really good at paying for it. As soon as they outlaw something, black markets are created, as are work-arounds. They are expert, however, at the pump phase. All something needs is a giant infusion of government support, and it will rise. Look at defense--boy do they make a lot of absolute crap. A recent example is the F35 system, it would never survive in a free market. It is the GOVERNMENT supporting, and responsible for the rise in, TSLA.

The writing has been on the wall for years, I have written on here about the command-and-control economy in which we now find ourselves. Housing market, same thing. Energy, same thing. Pharma, same thing. Now fading into ESG.

Follow the money, and pick up the scraps. Think I have done well this year? It's nothing compared to how real insiders have done.

Ghost of Igloi’s friend:

“I personally know a poster that is not very intelligent or investment-savvy, that has lost a sh!t-ton of money with investing in the past year and a half, even more since 2015. He seems to be arrogant and overleveraged, since- "appearance is everything" and “Hussman is god”.”

😹