The Official Stock Market Thread

[hermanotarjeta]

So which meme stock survives this mass destruction?

[babyfaceposey]

Originally Posted by hermanotarjeta

So which meme stock survives this mass destruction?

GME and AMC.
Still holding my AMC shares and buy some here and there.

[mfisher27]

Originally Posted by babyfaceposey

GME and AMC.
Still holding my AMC shares and buy some here and there.

DRS’d?

*only in reference to GME

[Josh611]

Who was waiting for the 20% correction from months ago? Are you going to buy if S&P is down 20%?

[mcgoo2]

Now that all recent IPOs have been getting slaughtered SNOW is starting to look awfully tempting as a long-term play.

[JMarchand1981]

Originally Posted by Josh611

Who was waiting for the 20% correction from months ago? Are you going to buy if S&P is down 20%?

That was BusterFacePosey. I think that's his name. He's saved himself quite a bit of money.

[k13]

Originally Posted by Josh611

Who was waiting for the 20% correction from months ago? Are you going to buy if S&P is down 20%?

Not down enough.

[k13]

Best way to help inflation is erase everyone's money.

[Josh611]

Originally Posted by k13

Not down enough.

That’s why I said if.

I think it hit -19 and some change this morning.

I’m sure the bottom for you is S&P 2000

[jcardstore]

Originally Posted by JMarchand1981

That was BusterFacePosey. I think that's his name. He's saved himself quite a bit of money.

Pretty sure he was saying that well before we peaked but even if you dropped 90k into SPY at the peak you could have netted ~1% a week selling CCs and you’d either be net positive or close to it.

That gives you the benefit of hedging your downside, generating extra income, and not worrying about trying to time the bottom (near impossible)

What’s going to happen now is 20% will become “well I’ll wait another 5%” and either never buy in or panic buy in after it rips.

[KhalDrogo]

What do we think happens to the stock market if tether loses its peg again, sees a run, and completely collapses taking all of the crypto market with it?

[pcptrade]

Originally Posted by KhalDrogo

What do we think happens to the stock market if tether loses its peg again, sees a run, and completely collapses taking all of the crypto market with it?

I would love to buy a Bored Ape for less than 100K (ETH below 1K). I want to own one just for fun and not as an investment

[pcptrade]

Originally Posted by pcptrade

Added some more COIN in AH. Small position (speculative bet). It could drop to 50 and I will value average more at those levels. I like the risk to reward here

Added some more at 45 today. Nice reversal today. Hope we will see low 40's one more time so that I can add some more for long term hold. Look like Cathie Wood added more after the earnings drop. I feel better that my cost basis is way lower than hers

EDIT: If you believe in crypto, this has the potential to become a 100 billion market cap company ($500 stock) in the future, which is almost 10X gains from todays low. Only time will tell....

This is not a financial advice. Do your own research. I bought this at $235 and sold it for $325 last year. I am investing only what I can afford to lose (i.e; profit money)

[pcptrade]

COIN: Nice 50% gain from yesterdays low. Taking some profits here.

[finfangfan]

This sounds like Elon being Elon…. Make a big splash and then change course. Probably was his escape plan all along to point to “fake accounts” and back out if things went sour (which it appears they are):

Elon Musk says Twitter deal on hold pending details on fake accounts; shares sink 10%


https://www.cnbc.com/2022/05/13/elon...-accounts.html

[xbignick]

Two green days in a row? Didn't know it was possible.

[Brobocop]

Originally Posted by finfangfan

This sounds like Elon being Elon…. Make a big splash and then change course. Probably was his escape plan all along to point to “fake accounts” and back out if things went sour (which it appears they are):

Elon Musk says Twitter deal on hold pending details on fake accounts; shares sink 10%


https://www.cnbc.com/2022/05/13/elon...-accounts.html

Elon has publicly acknowledged the fake accounts multiple times on Twitter. He never had any real intention to buy the company. I feel like he wanted an excuse to sell some Tesla shares without causing a panic and he also loves to see his name in the news.

[cnewby]

Originally Posted by Brobocop

Elon has publicly acknowledged the fake accounts multiple times on Twitter. He never had any real intention to buy the company. I feel like he wanted an excuse to sell some Tesla shares without causing a panic and he also loves to see his name in the news.

Nice opinion, I bet he still acquires it.

[Brobocop]

Originally Posted by cnewby

Nice opinion, I bet he still acquires it.

Why put the deal on hold over the discovery of something everyone knows about? Twitter even has to use an adjusted daily active users to account for all the fake and bot accounts. Again, Elon himself has acknowledged the issue multiple times on Twitter.

So why is this revelation enough to put the deal on hold? Did anyone really think the number of fake and bot accounts was less than 5%?

[KhalDrogo]

Originally Posted by Brobocop

Elon has publicly acknowledged the fake accounts multiple times on Twitter. He never had any real intention to buy the company. I feel like he wanted an excuse to sell some Tesla shares without causing a panic and he also loves to see his name in the news.

I’m sure he just wanted to give away $1B to Twitter as well.

[Brobocop]

Originally Posted by KhalDrogo

I’m sure he just wanted to give away $1B to Twitter as well.

He will find a way to get out of that by saying the amount of fake accounts was misrepresented to him and the public.


Sent from my iPad using Tapatalk

[Cheken]

nice to have a good day for a change!

[pcptrade]

Looking at the charts of Cryto and Market Indices, there could likely be more downside ahead imo after this oversold rally. BTC and ETH could drop another 30-50%. SP500 could drop to 3500/3200.

[GeechQuest]

Originally Posted by pcptrade

SP500 could drop to 3500/3200.

This would put us at pre-March 2020 levels (peaked at 3380 2/14/20).

At this time AAPL had just brought in $55B the year prior. They just brought in $23B Q1 2022. GOOG had just brought in $33B the year prior. They brought in $16B Q1 2022. TSLA wasn’t profitable at the time.

You get the idea.

Not saying your price point isn’t possible, but think about the companies you’d be buying at discounts in regards to Pre-Covid pricing. Hell, AAPL and GOOG just announced $160B in buybacks, or 2x the entirety of profit they made the year before the pandemic.

I’m not saying to buy the dip, but if you were buying before the pandemic and we hit your levels, you’re getting 2x value on the biggest/best companies who are weighted even heavier now than they were before the pandemic…

[pcptrade]

Originally Posted by GeechQuest

This would put us at pre-March 2020 levels (peaked at 3380 2/14/20).

At this time AAPL had just brought in $55B the year prior. They just brought in $23B Q1 2022. GOOG had just brought in $33B the year prior. They brought in $16B Q1 2022. TSLA wasn’t profitable at the time.

You get the idea.

Not saying your price point isn’t possible, but think about the companies you’d be buying at discounts in regards to Pre-Covid pricing. Hell, AAPL and GOOG just announced $160B in buybacks, or 2x the entirety of profit they made the year before the pandemic.

I’m not saying to buy the dip, but if you were buying before the pandemic and we hit your levels, you’re getting 2x value on the biggest/best companies who are weighted even heavier now than they were before the pandemic…

Sometimes stocks drops to near book value during panic selling which could be due to hedge funds going belly up, margin calls etc. We have seen that before and I would not be surprised if we see that again in some stocks, which is already happening right now. I see that as a rare buying opportunity. I bought GOOGL at $1100 during the March 2020 correction and I bought more yesterday. I will buy more if it drops to 1800-2000. Even though stock buybacks are bullish, I would not pay too much attention to it. I have seen many companies go bankrupt or stock performing poorly despite stock buybacks and insider buying in the past. Lehman Brothers, Blackberry, Sears, GE, IBM, some bank stocks etc just to name a few. Revenues and P/E can fluctuate based on the economy. Many companies are already missing their EPS/revenue estimates and their stock prices are being punished for that. I am not saying AAPL and GOOGL fall into that category because I am bullish on them in the long term and bought both of them in my brokerage account yesterday. I went to 100% cash in my 401k in early Jan and reentered in targeted index funds the past two weeks. I am currently long 70% in my 401K between SP 3900-4100 level and 50% long individual stocks in my brokerage account that I added over the past one week. I still have 30% cash in 401K and 50% cash in my brokerage account just in case if we drop to 3500/3200 levels. I am fine if the market does not drop further because I am still net long from current price levels. However, I think we have more downside left just looking at the charts of Indices and BTC/ETH.