Down goes the Dow

Russell 2000 is just 1% above a 52 week low.

that's not great. What's that about? Sp500 is still 20% above its 52 week low.

Prof. Racket wrote:

agip wrote:

youse guys do know that the *average* drawdown every year is 14%, right?

we're down 8% now. Barely half of a NORMAL correction.

What the bloody heck?

Your bearishness combined with Igy's increasing smugness can only mean one thing.

Coming from the smug mug himself…

Saw the massive Peloton crash the last few days and decided to buy some assuming a bounce-back.

May have been too late. Bought some a 1/2 hour ago -- it was already up 10% for the day

carmine9 wrote:

Saw the massive Peloton crash the last few days and decided to buy some assuming a bounce-back.

May have been too late. Bought some a 1/2 hour ago -- it was already up 10% for the day

You bought after it’s already bounced up by 10%?

This is why retail investors hardly ever beat the market. Nevermind, this is why all investors hardly ever beat the market.

value is holding in there for now. Down just half of the market.

One strategy is to move to value or low-vol funds.

some value-ish ETFs I follow. today:

-0.5%

-0.3%

-0.7%

agip wrote:

value is holding in there for now. Down just half of the market.

One strategy is to move to value or low-vol funds.

some value-ish ETFs I follow. today:

-0.5%

-0.3%

-0.7%

and REITS are *up* today. I am massively overweight REITS.

finally, portfolio theory works and something is zigging when the market is zagging.

hurrah.

Lol those who believe in technicals are, well, true believers.

Like many strategies, they can provide suggestions, but not specific directives. I know people who have done well by the strategy of looking at some charts, then harrumphing and integrating the chart into what else they think they know. They do not use them for specific buy/sell signals.

One of my faves is the “classic head and shoulders” pattern😂😂😂😂😂😂

Did a test bitcoin sell yesterday, went smoothly. Still have the bulk of it.

So tempting to buy some tech today...but in my memory, what happens going into the close on Friday influences what I believe will happen come Monday morning.

Still waiting...

Maser wrote:Did a test bitcoin sell yesterday, went smoothly. Still have the bulk of it.

Question for those of you who have bought and sold BTC, what are the practicalities around it? Where do you go to buy it? Asking for a friend who doesn't want to buy it from some guy on the corner who has it hidden under his raincoat...

This may seems like a stupid question, and that's because it is, at least an ignorant one. My *ahem* friend, who's sitting around waiting for it to hit $16k, is ignorant around the practicalities and doesn't want to buy any wooden nickels...

VS-SJW-IR-TS idiot wrote:

Maser wrote:Did a test bitcoin sell yesterday, went smoothly. Still have the bulk of it.

Question for those of you who have bought and sold BTC, what are the practicalities around it? Where do you go to buy it? Asking for a friend who doesn't want to buy it from some guy on the corner who has it hidden under his raincoat...

This may seems like a stupid question, and that's because it is, at least an ignorant one. My *ahem* friend, who's sitting around waiting for it to hit $16k, is ignorant around the practicalities and doesn't want to buy any wooden nickels...

paypal is really easy

not a regular poster wrote:paypal is really easy

Fair enough, but *where* do you buy it from. Surely not your brother's weed dealer, but hopefully somebody or someplace reputable and verifiable?

I'm sure I can google this and come up with all kinds of information, much of which might be suspect. Hence the question to some people I consider reliable. Inasmuch as one can consider an anonymous poster reliable. :-)

VS-SJW-IR-TS idiot wrote:

not a regular poster wrote:paypal is really easy

Fair enough, but *where* do you buy it from. Surely not your brother's weed dealer, but hopefully somebody or someplace reputable and verifiable?

I'm sure I can google this and come up with all kinds of information, much of which might be suspect. Hence the question to some people I consider reliable. Inasmuch as one can consider an anonymous poster reliable. :-)

paypal custodies it for you. you buy it there and paypal holds if for you. one-stop shopping.

Bummbull wrote:

[quote]carmine9 wrote:

Saw the massive Peloton crash the last few days and decided to buy some assuming a bounce-back.

May have been too late. Bought some a 1/2 hour ago -- it was already up 10% for the day

You bought after it’s already bounced up by 10%?

Sure.

Up 15% plus now.

I have used Paypal, but such btc is not your property—what you have is a claim against Paypal (aside: how many here know what you actually get when you “buy stocks”? ie owner of record-type stuff).

I use a Nano X hardware wallet. I purchase from those who wish to sell, through facilitators like Coinbase or Ledger. I alone hold the keys.

To sell, I first “send” (ie transfer) a chosen amount of btc to my Coinbase account, then sell it, then transfer the resulting cash balance to a linked bank account.

There is a window of vulnerability when buying or selling, and your funds sit on an exchange.

Coinbase generates decent reports on demand.

Very easy. For diversification, one can establish accounts at more than one exchange, ideally based in different countries. Coinbase works well in the US, Coinify in Europe, and so on.

I “tested” the system yesterday to see if the various transactions and transfers were working smoothly. It was situation normal.

Russell 2000

52 week low

astonishing.

Down 19% from its 52 week high.

This is what Igy has been talking about - meltdowns this fast.

that high was on November 1. 20% in 2.5 months.

It feels like a massacre

Like Maser said — not your keys, not your coins. Ledger Nano X for sure. Do a practice transaction first.

Overall I’m getting rekt on loser stocks I should’ve cut (PLTR DKNG). Not heavily allocated so whatever.

Crypto, yup down pretty good. Good time to start DCA’ing. Overall I think I’m still up in crypto but it’s getting close.

Keeping the powder dry a bit longer. Is a small rate rise really gonna crash equities?

Omicron will be a huge net positive. I predict basically zero covid from Feb onward, until late next fall.

Once investors realize they have been scammed by a host of fake narratives, the social and economic spillover effects will go well into the next decade.

Yeah, like he said. I have used mostly Coinbase, who are I believe the largest crypto vendor in the US, and based in California. If you use them, they have a division for active traders called Coinbase Pro and it is lightyears better, with all the same account info and assurances, and much lower fees, too. It is actually a very nice user interface.

Paypal is a bit on the crude side, lacking features, and more expensive in terms of fees, but i bet it is about as secure as you can get. I used it when they had introductory offer, but since raising their fees, I have no reason to use it.

When I used to have a bit larger sum at play, I have an offline wallet thingie and that lockable USB device (vault?) thing as well. But since dabbling over the last two years only, I have found it much easier to leave my balance on my Coinbase Pro account, never withdrawing it, and just let it reside there.

FWIW, i sold everything a few days ago.