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#13321 |
MVP
Join Date: Oct 2006
Location: West of the Equator
Casino cash: $619901
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I'm now 99% an online banker.
I looked into online banks starting in 2019, but things were clunky and not the best. In July last year I opened an account to see how things went (transactions, etc.). Very satisfied. Needless to say I recently moved nearly all my money from my credit union to my new online bank. The differences between old and new are striking: 1) Much higher interest paid on savings 2) Credit card is stellar with cash back 3) Everything is free, including checks (yes, still necessary) 4) All transactions show up immediately 5) Convenient, convenient, convenient My bank is the hub of all investments and very important. It catches all cash from trades and holds it until a new opportunity arises. Stewie, the mover of money. ![]() |
Posts: 13,691
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#13322 | |
Politically Incorrect
Join Date: Feb 2009
Location: Scottsdale, AZ
Casino cash: $1481110
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"The only difference between sex for free and sex for money is that sex for free costs you a WHOLE LOT more!" ~Redd Foxx~ ![]() "The men who drafted Patrick Mahomes" ![]() |
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Posts: 51,585
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#13323 |
MVP
Join Date: Oct 2006
Location: West of the Equator
Casino cash: $619901
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Posts: 13,691
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#13324 |
Kind of a mod
Join Date: Aug 2005
Location: Donkey Land
Casino cash: $736899
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I've had my checking account with Schwab and savings with Discover for about a decade at this point. The former is all mobile deposit, but they refund ATM fees anywhere in the world. The latter has a variable interest rate which is currently at 3.3%. It's not always the TOP interest rate, but it's always right there (and is a hell of a lot better than you'll get at any traditional bank).
The only downside is the extremely rare times when you have a bunch of cash that you need to deposit, so I ended up opening up a savings account with Chase (which has a branch about a quarter mile from me) and just parking $1k in it. I've only needed it a time or two, but it's nice to have the option. |
Posts: 52,210
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#13325 | |
MVP
Join Date: Oct 2006
Location: West of the Equator
Casino cash: $619901
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I ended up going with Capital One. It consolidated everything and had the best combination for my needs. I still have my Discover card. Who can pass up 5% cash back on groceries? |
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Posts: 13,691
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#13326 |
Mod Team
Join Date: Sep 2011
Location: Valley of the hot as ****
Casino cash: $631900
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Here's the long overview. Generally, the bottom of a bear market isn't found until capitulation happens. On a chart, this is vertical selling. See the previous examples of this. If capitulation happens we could see a bottom around 325-300. I also find it interesting that the recent peaks of each down wave follow a very consistent trend line.
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Posts: 46,016
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#13327 | |
Consuming CP souls
Join Date: Oct 2005
Location: U.S.A.
Casino cash: $2728880
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Posts: 70,177
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#13328 | |
Supporter
Join Date: Apr 2007
Location: Scott City KS
Casino cash: $1024734
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WTF happened? EVERYTHING went down yesterday.
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Posts: 57,552
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#13329 |
Mod Team
Join Date: Sep 2011
Location: Valley of the hot as ****
Casino cash: $631900
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That's not true. A trend line connects two or more points. That line is more so showing you how far each capitulation fell. It can help you estimate where we would fall to if capitulation (quick selling all at once) happens in this current bear market. We could fall to near 300 if using that trend line. I'm not asking anyone to guess, just showing you where we are at and what could happen. I think it's also interesting to note just how high this market is compared to 2009 levels.
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Posts: 46,016
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#13330 | ||
Supporter
Join Date: Apr 2007
Location: Scott City KS
Casino cash: $1024734
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Not really a hill I’m willing to die on, but that’s what I’ve always seen. Yeah it really is remarkable how high it is. It looks horribad on a short term chart but barely a blip if you move it back even 10 years. But then on a %loss basis this is one of the bigger price moves. Who the hell knows. I kicked in some extra to a IRA, thinking the timing was good. It may very well not be. 300 looks as good as anything I can come up with. |
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Posts: 57,552
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#13331 | |
Mod Team
Join Date: Sep 2011
Location: Valley of the hot as ****
Casino cash: $631900
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The current short term downward trend line now has 5 points of resistance on it, so suck on that one!!!! |
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Posts: 46,016
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#13332 | |
Supporter
Join Date: Apr 2007
Location: Scott City KS
Casino cash: $1024734
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Quote:
The current downtrend line is exactly the reason it was stupid to kick more money into the IRA. Speaking of IRAs, your boy about screwed up. Farms operate on cash accounting because we can't control gross revenue and it gives us the flexibility to manage taxable income over time. Well, I was thinking with rising interest rates, I'd take some more income this year, pay tax on it and improve my working capital position. Fortunately I remembered both wife and I have ROTH contributions that are income limited. I didn't do it, and need to remember that its BAD if my income gets too high. It was super easy to get my personal income WAY below the limit, so it's fine, but damn, that's just the moronic shit I'd do. I don't pay much attention at all to my personal shit, but I'm a nazi about the farm stuff. Looks like I have another data point to manage at FYE. |
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Posts: 57,552
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#13333 |
Mod Team
Join Date: Sep 2011
Location: Valley of the hot as ****
Casino cash: $631900
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Yes and no. All the stuff we talk about in threads like this is just guessing. Nothing wrong with putting money into stocks during a downtrend if you're years away from using that money. There's nothing wrong with dollar cost averaging, it's just boring to talk about.
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Posts: 46,016
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#13334 | |
Supporter
Join Date: Apr 2007
Location: Scott City KS
Casino cash: $1024734
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Posts: 57,552
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#13335 |
NFL's #1 Ermines Fan
Join Date: Jul 2001
Location: My house
Casino cash: $2028491
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I feel like a market dynamic has changed.
For the past year, any time there was good news the market would pop up and then people would sell off in response and drive it back down. For the past few weeks, it's been the opposite. If bad news initially hammered the market down, then people would start buying and pull it back up. Anyone else noticing this?
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