The stock market

[Mike Sixel]

Or not.....guess this why I am not a day trader.

[Brock Beauchamp]

 

Or not.....guess this why I am not a day trader.

Yep. This is why I don't try to "play" the market. I buy stocks I believe in and stick with them for at least a year for the lowered tax rate. I tried to play a couple of stocks short-term and was soundly beaten for it.

 

Know your limitations.

[Mike Sixel]

 

Yep. This is why I don't try to "play" the market. I buy stocks I believe in and stick with them for at least a year for the lowered tax rate. I tried to play a couple of stocks short-term and was soundly beaten for it.

 

Know your limitations.

 

That's pretty much my strategy also. Just doing what Omaha tells me to do...

[Willihammer]

Any emerging markets investors? EWZ (Brazil) is having a 13% off sale. Evidently their president is being accused of paying hush money to a witness in a corruption investigation.

[Mike Sixel]

 

Any emerging markets investors? EWZ (Brazil) is having a 13% off sale. Evidently their president is being accused of paying hush money to a witness in a corruption investigation.

 

I don't know much about those markets, and every time I dip in, I get hammered. 

[glunn]

 

Or not.....guess this why I am not a day trader.

Covered calls are not a day trader strategy.

[Mike Sixel]

 

Stock tip: keep buying Nvidia, it will hit $165 by EOY, and I predict $225+ sometime by 2019

Big few years ahead for them.

 

Crazy. And, I hope you are right.

[DaveW]

Bitcoin about to hit $2000

[Mike Sixel]

 

Bitcoin about to hit $2000

 

No cash! I have no cash!

 

My 19 yo reminded me this week that he told me to get in when it first launched.....

[gunnarthor]

 

Any emerging markets investors? EWZ (Brazil) is having a 13% off sale. Evidently their president is being accused of paying hush money to a witness in a corruption investigation.

We have some holdings in India that have been strong for us.  Nothing in Russia, Brazil or China though. 

[DaveW]

My bitcoin app was running slow today and I accidentally bought $14,000 worth of LiTECoin.

 

I guess I am along for the ride, it's up from $27.95 to $30.06 so far.

 

Gulp

Edited May 23, 2017 by DaveW

[DaveW]

No cash! I have no cash!

 

My 19 yo reminded me this week that he told me to get in when it first launched.....

$2250 now

[ashbury]

My bitcoin app was running slow today and I accidentally bought $14,000 worth of LiTECoin.

#firstworldproblems

[DaveW]

#firstworldproblems

$32.55!!!

 

This could be the greatest mistake I have ever made.

[DaveW]

Found this amusing:

 

 

Yesterday was a notable moment in Bitcoin’s history: Bitcoin Pizza Day, the anniversary of the first usage of Bitcoins to purchase a real-world good. (Two Papa John’s Pizzas.) At the time, a guy paid $30 worth of freshly mined coins for his treat; at current market prices, they’d now be worth more than $10 million apiece.

[DaveW]

 

$32.55!!!

This could be the greatest mistake I have ever made.

$35!        

[Willihammer]

There are a capped amount of bitcoins that can be mined. The same I assume for Litecoins. This prevents inflation and actually is part of the reason these currnecies are increasing in value, right? OK. But there is no cap on the number of cryptocurrencies. Bitcoin, ethereum, litecoin, etc. A cursory google search of cryptocurrencies yielded a list of 100 cryptocurrencies. At some point will each of these cryptocurrencies experience "inflation" as the universe of cryptocurrencies (ie the money supplpy) continues to expand?

 

edit: "View all" and the list expands to 832 cryptocurrencies.

Edited May 24, 2017 by Willihammer

[Willihammer]

We got some GM owners here right? Looks like they're facing emissions standards-cheating allegations similar to VW:

 

https://www.reuters.com/article/us-gm-lawsuit-idUSKBN18L25Y

[Willihammer]

499 of the S&P's 500 index have reported Q1 results. YoY earnings grew at 14%, highest since Q3 of 2011. Quite a streak we've been on.

[Mike Sixel]

Sigh....Shopify and NVIDIA are now on sale. Sigh.

[Brock Beauchamp]

I don't have much faith in this market. I'm not working right now so I'm considering selling almost every penny I have in stock and paying off the house.

 

It's a big decision but having a house paid off at 40 years old is really, really enticing.

 

Doubly so because without a house payment, we can live off the wife's income easily with money left over every month.

[Mike Sixel]

 

I don't have much faith in this market. I'm not working right now so I'm considering selling almost every penny I have in stock and paying off the house.

 

It's a big decision but having a house paid off at 40 years old is really, really enticing.

 

Doubly so because without a house payment, we can live off the wife's income easily with money left over every month.

 

I'd probably just sell off enough every month to make payments, but I understand your thought process. 

[Brock Beauchamp]

 

I'd probably just sell off enough every month to make payments, but I understand your thought process. 

I'm kind of an all-or-nothing guy and pretty anti-debt. Until we had to spring for a new Mazda last winter, the only debt we had was the mortgage.

 

And getting rid of the mortgage also allows me to get rid of the Mazda payment in 18 months or so.

[Mike Sixel]

 

I'm kind of an all-or-nothing guy and pretty anti-debt. Until we had to spring for a new Mazda last winter, the only debt we had was the mortgage.

 

And getting rid of the mortgage also allows me to get rid of the Mazda payment in 18 months or so.

 

it's really stupid to pay off a zero percent loan, sir. sorry to be so blunt, but it's FREE MONEY.

[Brock Beauchamp]

 

it's really stupid to pay off a zero percent loan, sir. sorry to be so blunt, but it's FREE MONEY.

It's not stupid if you're generally risk-averse and gain a daily quality of life from not owing anyone money.

[Willihammer]

 

I don't have much faith in this market. I'm not working right now so I'm considering selling almost every penny I have in stock and paying off the house.

 

It's a big decision but having a house paid off at 40 years old is really, really enticing.

 

Doubly so because without a house payment, we can live off the wife's income easily with money left over every month.

I tend to side with Mike but could see selling too. Heard this market described as a "hated rally."

The real question to me is what do you mean you're not working? TD just had 100,000 page views and didn't even crash! That calls for a raise I'd say.

[Mike Sixel]

 

It's not stupid if you're generally risk-averse and gain a daily quality of life from not owing anyone money.

 

Fair, I meant it economically as stupid. Of course quality of life is very, very important.

 

if you need work, I know IT shops in Mpls......

[Brock Beauchamp]

 

Fair, I meant it economically as stupid. Of course quality of life is very, very important.

 

if you need work, I know IT shops in Mpls......

No, but thank you. I'm intentionally unemployed because we're nearing the end of the foster care application process.

 

Still, makes it tough to drop to a single income. Well, mostly single... I still bring in money but only about 1/6th what I did working full-time.

[DaveW]

Sigh....Shopify and NVIDIA are now on sale. Sigh.

I was hanging with some sr Nvidia employees earlier today, they are all very pleased to say the least.

[gunnarthor]

I almost bailed on Shop at 86 but decided I'd hang onto it. Not sure that was the right thing but ...