Investing General Discussion

Gravel said:

Ending the correction? This still isn't even remotely a correction. I swear some of you are way too sensitive to red days.

We'd need to drop another 7% or so for a "correction," which is usually a 10% drop.

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Pogi.G said:

To be fair, I think satellite TV is on it's way out the door. I broke from DirectTV 3 years ago. Monthy bill was over $200. I get hulu, prime, and netflix for a fraction of that and don't miss anything that I watched on DirectTV.

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Hateyou said:

It depends if you’re looking at the entire market or specific stocks. A lot of individual stocks had multiple corrections this week lol

And what I mean is it’s easy to see how some people could be worried/upset. Someone earlier posted their whole portfolio was down 20% this week. That sounds like they aren’t very diversified or they just happened to pick a bunch of really bad selections, but I could see how people could think the markets fucked right now from their own personal perspective. It’s obviously not the overall market but looks bad to them.

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Jysin said:

My buys of F (Ford), which I have posted in the thread from $9.xx were a part of this value rotation. It has helped that they have had some great headlines since then, but that had broken over $12 recently, which is a very sizeable gain for a "boomer stock". Part headlines, more rotational value. Same gains story recently with X (US Steel).

All week while the market has been getting hammered, cruise lines and airlines have posted significant gains as people are rotating out of tech and into reopening plays.

Difference is, the savvy investor was buying these sectors when then were really bruised and beaten down. I was buying DAL in the mid-high 30s over the past months. We touched $50 yesterday.

Money is simply being shifted around. As Sanrith Descartes said, if your overall portfolio is tanking hard, you are probably weighted heavily into tech at my guess. Tech worked last year when everything else was hurting. Tech use goes up as a stay at home play, it made sense, although many were highly overbought. Now with vaccines flying off the shelves, even greater spending projections for 2021, and an imminent summer, people are repositioning for the boosts in those sectors. Overvalued tech suddenly isn't the place to be.

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Hateyou said:

Yeah, I’m all over the place. More than half my portfolio is ETFs. The other half is spread out among a variety of stuff. Nearly every day my account swings up or down <2%, because when one sector is going down, the other is going up. With som exceptional days like yesterday when everything was red, and a couple weeks ago when everything was green.

I have younger friends that have “holy shit my portfolio went up 11% today.” type of portfolios. I know which stocks they have though, and they are oddly silent when they have “entire portfolio down 15%” days. I try to get them to diversify into more stable shit to offset the wild stuff they’re in but they aren’t interested. They have a “I need to strike gold to retire by 40” mentality. I also try to get them to take profits off the table from time to time but they won’t. They’re in a ride or die mode on these tiny vulnerable companies. I’ll say “Dude you’re up 1000% at $35/share. Take profits off the table, buy it again when it dips to $22 next week.” They’ll respond “I think it can go to $120 though” It’s going to be sad when it goes back down to $4 per share but what can you do, they won’t listen.

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Hateyou said:

I’m sad about CAT. I made quite a bit of profit on it but it was one of the companies I owned I was concerned about tanking. Set a 10% trailing stop loss on it, it had a few bad days and triggered it, to the moon ever since. Same thing happened to me with JPM. Every one of my trailing stop loss sells has been a bad decision for me.

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