Asshat wormie
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Investing General Discussion
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Sanrith Descartes
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Sanrith Descartes
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Moglyzoke Moogleman
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Gravel
Mr. Poopybutthole
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Was talking to my mom last weekend. I mentioned a long time ago that her husband has a lot invested in Tesla. For some reason it's like his entire retirement is hinging on Elon Musk.
She said he lost over a million dollars on Tesla last year. Granted, he didn't sell anything, but still. Yikes.
That said, I bet the last couple weeks have been fucking wild for him.
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Sanrith Descartes
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TSLA got caught up in a perfect storm of shit the last couple of months in my opinion and was oversold.
Musk having to sell billions to fund Twitter purchase
Flipping the free speech finger to the Feds with Twitter Files
China lockdowns at Shanghai
Rising inventories
Investors not understanding that cutting costs to move inventory was the Chad thing because his margins prevent competitors from following suit
General market weakness
Shorts thinking "We have him THIS time"
Its why sometimes you just need to walk away and not look at the markets for a while.
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Gravel
Mr. Poopybutthole
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It's funny, I actually was just texting her about it, and she was like, "He did buy the dip."
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Sanrith Descartes
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Sanrith Descartes
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Mist
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Probably. Hedge funds expecting next week to have a >50% chance of being less good than this week and just taking their ball and going home now?
Regression to the mean is the most powerful force in the universe.
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Sanrith Descartes
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Blazin
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I’m looking for golden cross and a close above previous peak. Probably a week yet. Fed , big earnings week huge tech setup , by next Friday bears will either show up or a new uptrend is born
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Sanrith Descartes
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Welp, either we are gonna keep going up or we are going back down. That is my financial advice. Please Venmo me my advising fee.
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Mist
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Record profits across most companies outside of tech.
Record low unemployment.
Record tax revenues.
As long as people in the bottom 2 quartiles of income earners remain employed, and construction/trades employment stays high, everything else should work itself out (not saying it won't be bump as fuck.)
That is, everything should work itself out until government and/or the fed intentionally cause a catastrophe because reasons.
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Sanrith Descartes
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Non-single family construction (like large buildings and shit) are still pretty strong. Some areas like Florida are banging out tall buildings (tall for Florida). NYC has strong permit action but interest rates are having a slowing effect.
Mist
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Anecdotal but every single residential contractor I know is booked solid, not with new construction, but with major additions and renovations, so the fact that new single-family homes are down isn't really hurting any of the local contractors. They are actually hurting more from not being able to find enough workers, particularly plumbing and HVAC contractors. But I do live in a very expensive county so this doesn't generalize.
Sanrith Descartes
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I'm in the industry and some areas are booming right now for tall multi-dwelling unit buildings.