Sanrith Descartes
Veteran of a thousand threadban wars
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Whether it starts going up tomorrow or not for 5 years from now, there is no better place to park cash so I just keep buying on support lines.
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Investing General Discussion
- Thread starter Furious
- Start date
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I'll probably catch crap for this but I have someone (big bank) invest for me since I can't find the time to do it myself properly. This is exactly what they've been doing. Back in Nov I allocated some cash to them and they originally planned on splitting it up over 12 months to average it. In January they called me up to say shit was going down hill, lets accelerate to six months.
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Gravel
Mr. Poopybutthole
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I said it a few weeks ago, but there's literally no good news about the economy, heck, maybe about anything, coming out lately.
I mean, what exactly is going to make the market turn around all the sudden? As
Furry
said, the only possibility might be inflation running so hot that dollars become so worthless that the indexes shoot up in the near term with gonzo money.- 2
Sanrith Descartes
Veteran of a thousand threadban wars
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When its going to indexes and for the long term its (in my opinion) the right approach to average on the way down (either at fixed intervals or at support lines). I am being very, very picky with individual stocks the last month or so and just adding to stocks I already own.
Sanrith Descartes
Veteran of a thousand threadban wars
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Zog
Blackwing Lair Raider
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Sanrith Descartes
Veteran of a thousand threadban wars
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Jysin
Ahn'Qiraj Raider
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Quoting myself, as this is exactly what I was implying:
It May Be a Bear Market, But It’s Not a Panic. That’s Worrisome
It’s been hard to watch, impossible to predict and a nightmare to trade. But has the S&P 500’s slide been an unqualified panic to date? By some measures no, and that might bode poorly for equities in the near term.
www.bloomberg.com
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Big Phoenix
Pronouns: zie/zhem/zer
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Zog
Blackwing Lair Raider
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I made a good chunk today
I keep using the idea, what will fuck retail the most and i trade around that.
Retail is going all in on the bounce right now.
Monday is going to be redder than a mother fucker.
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That's no crazier than a lot of strats. Other than the Inverse Cramer Fund, that shit is a printer!I made a good chunk today
I keep using the idea, what will fuck retail the most and i trade around that.
View attachment 413414
Retail is going all in on the bounce right now.
View attachment 413415
Monday is going to be redder than a mother fucker.
Memes aside, been DCA buying small amounts of TQQQ since about $42. Current cost basis is 35.65 after buying some more today at 26.12 in the middle of that power hour pump. If we get some bounces above about 45 I'll reassess if we're going to stay around there with potential to head back to 60 in which case I'll hold for that long and MAYBE even get some SQQQ at that point like I should have done this last time back in April.
If we get a further drop as
Gravel
is suspecting, I'll just keep up what I've been doing. The interesting thing with TQQQ is the T part. It looks catastrophic since I'm down like 23%... BUUTTT that's only 7.5% that QQQ has to move to be in the green, which is like 2.5 days trading in this clown market, lol.- 1
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Not generally a big ZH fan but they post some interesting history sometimes, last time Dow was down 8 weeks straight was 99 years ago, not even the great depression had this many down weeks in a row!
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Sanrith Descartes
Veteran of a thousand threadban wars
- 41,467
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That's no crazier than a lot of strats. Other than the Inverse Cramer Fund, that shit is a printer!
Memes aside, been DCA buying small amounts of TQQQ since about $42. Current cost basis is 35.65 after buying some more today at 26.12 in the middle of that power hour pump. If we get some bounces above about 45 I'll reassess if we're going to stay around there with potential to head back to 60 in which case I'll hold for that long and MAYBE even get some SQQQ at that point like I should have done this last time back in April.
If we get a further drop as
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Mist
Eeyore Enthusiast
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Well, what do you expect? The market was completely irrational for 2 years, kept going up while the entire world was falling apart on every level (greater than half of which was entirely self-inflicted.)
The question isn't why are we down so much, but why were we up so much?
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