Down goes the Dow

Racket wrote:

Don't visit this thread wrote:

What? You only buy at the market downturn? That's a terrible investment advice. First of all, it's very difficult to nail the exact bottom every single time. When I say very difficult, almost impossible to get it right every single time.

And, if you're only waiting to buy at the bottom, do you just wait on the sideline hoarding with cash? So, in 2001, you buy as much as you can, then you just keep saving cash until you buy again in 2009? Then again in 2020?

If you have so much cash to buy at the bottom, you've missed out on so much buying opportunity.

It is ridiculous isn't it? In fact, it's almost as if I was (wait for it) exaggerating, or maybe joking perhaps?

Speaking of jokes, I find this hilarious :

https://markets.businessinsider.com/news/stocks/hertz-stock-price-skyrockets-since-filing-bankruptcy-traders-global-holdings-2020-6-1029285231

In response to the article, has it occurred to anyone else that trading apps are changing the market in significant ways and creating opportunities for more experienced and knowledgeable traders? Sure, investing in a company that just filed bankruptcy is pretty dumb, but a seasoned trader who takes note of these newbies' behavior could exploit such movements and make big profits in the short term. That's basically what I did with crypto in 2017. I knew it was a bubble, I think lots of people knew it was a bubble, yet there was still money to be made. I didn't have much money to play with at the time, but I still made quite a bit in a very short period of time exploiting the herd mentality.

Of course timing is always difficult, but timing the behavior of novices is more predictable than the market at large...

My airline stocks are all up again today, though they fell quite a bit from their early morning highs. It's kind of hard to believe just a couple weeks ago I was down pretty bad and thinking of selling simply to cut my losses.

I'm invested mostly in airlines and bank stocks with a smaller portion in energy. My rationale was that I bought in when these stocks were down around 50% or more, so basically all I need to make massive amounts of money is for them to survive. If things even come close to normalizing in these sectors, I will have huge returns. The market at large doesn't even need to grow. Investors looking for opportunities will shuffle money around to buy the best value stocks (theoretically). What I will have to decide is when to shuffle money back into the broader market from these individual stocks as long term I prefer less risk and have more confidence in the market at large than ANY individual company.

My own personal belief is that airlines have bounced nearly as much as they are going to, and it’s time to flick those boogers off your finger. Some of them will go bankrupt this year, Fed or no Fed. Or so I think, but as I keep reminding myself, I chose this fake name for a reason...

the idiot wrote:

My own personal belief is that airlines have bounced nearly as much as they are going to,

I thought the same thing about airlines and work at home stocks. I sold Zoom at 165. It's not solely a work from home stock but I was thinking it had a nice run and it was time to get out. That was two weeks ago. Now, it's 207.

That's twice since April that I've taken a profit on a stock only to see it bounce far higher in a matter of days.

the idiot wrote:

My own personal belief is that airlines have bounced nearly as much as they are going to, and it’s time to flick those boogers off your finger. Some of them will go bankrupt this year, Fed or no Fed. Or so I think, but as I keep reminding myself, I chose this fake name for a reason...

Nowhere near what they were trading at pre Covid.

the idiot wrote:

My own personal belief is that airlines have bounced nearly as much as they are going to, and it’s time to flick those boogers off your finger. Some of them will go bankrupt this year, Fed or no Fed. Or so I think, but as I keep reminding myself, I chose this fake name for a reason...

Like the booger analogy. Gosh, I can name a half a dozen carriers not in this bunch that have gone bankrupt in my lifetime and are no more. Of this group of boogers, I believe only Southwest and Alaska have not gone bankrupt. Those two would be decent holds, but still challenged businesses.

Ghost of Igloi wrote:...Of this group of boogers, I believe only Southwest and Alaska have not gone bankrupt. ...

maserati and I were classmates of a guy who's now in the Alaska Airlines c-suite, and my spouse and I did military training together with him over two summers. I still don't know who mas is, other than a former classmate, mind you.

Hope Maserati is OK. He has disappeared like this before, so can’t say it is unusual.

PRD wrote:

In response to the article, has it occurred to anyone else that trading apps are changing the market in significant ways and creating opportunities for more experienced and knowledgeable traders? Sure, investing in a company that just filed bankruptcy is pretty dumb, but a seasoned trader who takes note of these newbies' behavior could exploit such movements and make big profits in the short term.

Sure. They're called suckers and they've been left holding the worthless bags of obvious pump and dump schemes since the beginning of time. Apps certainly make it easier for investors to reach out to suckers and take them for a ride, but I don't think it's novel.

Ghost of Igloi wrote:

Hope Maserati is OK. He has disappeared like this before, so can’t say it is unusual.

Probably hanging out with the Illuminati on the Amalfi Coast and slapping backs in Monaco.

And he didn't even invite a single one of us.

And bought the market 3/23 and sold 6/5. Who would have known? :-)

Racket wrote:

Ghost of Igloi wrote:

Hope Maserati is OK. He has disappeared like this before, so can’t say it is unusual.

Probably hanging out with the Illuminati on the Amalfi Coast and slapping backs in Monaco.

And he didn't even invite a single one of us.

He's probably in prison.

la gente esta muy loca wrote:

Racket wrote:

Probably hanging out with the Illuminati on the Amalfi Coast and slapping backs in Monaco.

And he didn't even invite a single one of us.

He's probably in prison.

And the investment club he started there just finished their first month more than doubling the returns of the SPX. You go, Masie!

seattle prattle wrote:

la gente esta muy loca wrote:

He's probably in prison.

And the investment club he started there just finished their first month more than doubling the returns of the SPX. You go, Masie!

he bought back in on April 10 and is now thinking about selling.

TSLA at what looks like would be a new closing high.

Such a great story. Create a new brand, don't advertise, have everyone doubt you, be the most shorted stock in the country, survive multiple life-threatening crises...and then blow the roof off.

Love it.

the idiot wrote:

My own personal belief is that airlines have bounced nearly as much as they are going to, and it’s time to flick those boogers off your finger. Some of them will go bankrupt this year, Fed or no Fed. Or so I think, but as I keep reminding myself, I chose this fake name for a reason...

Tesla and each of my three airlines stocks are up big today.

At least so far.

Giles Corey wrote:

the idiot wrote:

My own personal belief is that airlines have bounced nearly as much as they are going to, and it’s time to flick those boogers off your finger. Some of them will go bankrupt this year, Fed or no Fed. Or so I think, but as I keep reminding myself, I chose this fake name for a reason...

Tesla and each of my three airlines stocks are up big today.

At least so far.

So is Hertz (bankrupt-zero equity value) ?

Ghost of Igloi wrote:

Giles Corey wrote:

Tesla and each of my three airlines stocks are up big today.

At least so far.

So is Hertz (bankrupt-zero equity value) ?

Don't own Hertz so not interested.

Some stocks worth buying are Draft Kings and Carnival Cruises.

I won't though on moral objections

SP500 still > 3200... !

1500 is a long, long way back in the mirror, Igy...