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#1696 |
Supporter
Join Date: Aug 2000
Location: Utopia
Casino cash: $4008454
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Investing is a lot like driving in a demolition derby. You put in the work, earn extra money and spend it on something fun that could/should result in a return if you're skilled and have good luck.
Then you log into your accounts, hear the count down and back up and smash into something hard. you pull forward and back into a sorry dodge dart that is stuck on the rail, making some impact and a slight display for the crown for a while, feel a rush of adrenaline. You spin mud as you round the corner through the smoke of the wreckage of the cryptocurrency chevrolet that is smashed into the bitcoin buick...you put your foot down and spin mud as you blaze through the fog and smoke just in time to find yourself blindsided in the drivers door. Your seatbelt breaks and as your body catapults across the cab into the collision with the drivers door, you see the battery sparking. Now, I'm trying to stay composed as Ricky "rainman" Bobby is running around on the track in his underwear screaming about being on fire, even though he's not.... Today, I'm sitting back up in the driver seat, I wiggled the positive cable on the battery cut into the seat, and even through the noise I can hear the starter turning and hoping the carb isn't flooding. I'll try to tie the seatbelt together and if this fires back up, I've still got a strong motor and the radiator is in tact. My biggest fight right now is the urge to put money in and buy into my same stocks at the discount rate. |
Posts: 61,801
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#1697 |
Fish are scared of me
Join Date: Nov 2001
Casino cash: $440477
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Bought 8 shares Amazon 2 minutes before the close.
Edit : And lost $70 in the last 2 minutes .LOLOL ****! |
Posts: 40,721
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#1700 |
Fish are scared of me
Join Date: Nov 2001
Casino cash: $440477
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Started the day with a 12 stock portfolio . 8 stop losses triggered. Down to 4 stocks and then added AMZN so now 5.
The only stock that was green for me today was a friggin Marijuana stock ACBFF. Go figure. |
Posts: 40,721
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#1701 |
MVP
Join Date: Oct 2011
Location: Chandler AZ
Casino cash: $1971004
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Watching people shit themselves over a 5% drop in a market that's up 25% in the last year provides a great window into why roughly 90% of day traders lose money.
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Posts: 13,495
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#1702 | |
Fish are scared of me
Join Date: Nov 2001
Casino cash: $440477
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Quote:
I hate days like today. |
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Posts: 40,721
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#1703 | |
Mod Team
Join Date: Sep 2011
Location: Valley of the hot as ****
Casino cash: $631900
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Quote:
I’m not caring one bit about this. Won’t if it corrects 10% either. The past 2 years of gains were record pace. It wasn’t going to keep up.
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2024 Royals game thread record 3-0 |
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Posts: 46,016
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#1704 | |
Supporter
Join Date: Aug 2000
Location: Utopia
Casino cash: $4008454
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Quote:
BUT...as long as I don't panic sell my equipment and stock, I can get some more bees and build these purple Baltic Avenue properties into Atlantic Avenue houses and leverage those into Pennsylvania avenue hotels. Keep your eyes on the prize. |
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Posts: 61,801
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#1705 | |
Why so serious?
Join Date: Dec 2016
Location: Chicago
Casino cash: $1150415
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Quote:
There were any number of positioning metrics flashing 'euphoria' on a scale that we haven't seen post-crisis. Macro themes (long equities, long EM, short rates, short USD) have been dominating the trading environment and trending aggressively. All of these things rode the wave of sentiment up and now the same thing happens on the way down (you can blame a class of investors known as CTAs for amplifying these moves). This is how markets have operated forever. Equities may still end up performing just fine over the next several months, but more likely than not the risk/reward (Sharpe in industry parlance) will just be poorer. So be prepared to feel less euphoric and more balanced. But this is what ultimately makes for a healthier market. Said another way, the experience of investing in stocks is transitioning from feeling like being a fan of the Patriots to being a fan of the Chiefs. Good luck, folks. |
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Posts: 12,585
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#1706 |
TACO SALAD
Join Date: Apr 2008
Location: yes
Casino cash: $508468
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XIV is at termination levels right now in after hours. 85% down. svxy too
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Posts: 6,054
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#1707 | |
Fish are scared of me
Join Date: Nov 2001
Casino cash: $440477
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Quote:
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Posts: 40,721
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#1708 |
NFL's #1 Ermines Fan
Join Date: Jul 2001
Location: My house
Casino cash: $2028491
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It's interesting to see the different strategies at play here. In the short-term, I favor my strategy of screaming and crying while buying into face of the tsunami.
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Active fan of the greatest team in NFL history. |
Posts: 142,327
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#1709 | |
Why so serious?
Join Date: Dec 2016
Location: Chicago
Casino cash: $1150415
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Quote:
There are two schools of thought. One is that if you liked the market at X, the market at 95% of X is a real bargain. The counter to that is if you liked the market at X and it's now at 95% of X, something in your original thesis was entirely incorrect. When you're invested in something, you are naturally going to be less honest about it than if you were a dispassionate outside observer. You stopped on some positions and now have the ability to view things more objectively. That is a huge advantage in a market that's been driven by euphoric sentiment. |
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Posts: 12,585
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#1710 |
Why so serious?
Join Date: Dec 2016
Location: Chicago
Casino cash: $1150415
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If you combine that with hope and prayer and a blind allegiance to the Ermines, it's 100% of the time worked about 25% of the time.
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Posts: 12,585
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