The Investment Thread (18 Viewers)

[Eeyore]

FBI serves warrant on senator in investigation of stock sales linked to coronavirus

Warrant marks a major escalation of the investigation of stock trades by lawmakers as the coronavirus spread.

www.latimes.com

 

[bclemms]

FBI serves warrant on senator in investigation of stock sales linked to coronavirus

Warrant marks a major escalation of the investigation of stock trades by lawmakers as the coronavirus spread.

www.latimes.com

Hope he burns and takes down all the others with him.

Thing is, it was obvious based on public information but the fact they sold all their stocks then publicly claimed there was little to no threat to people in the USA and it was just the flu, let them burn.

 

[UncleTrvlingJim]

Hope he burns and takes down all the others with him.

Thing is, it was obvious based on public information but the fact they sold all their stocks then publicly claimed there was little to no threat to people in the USA and it was just the flu, let them burn.

yeah, to be honest, I'm not really upset with his selling the stocks. It's his public downplaying of the virus afterwards that angers me.

 

[Loose Cannon]

Moved almost all of my fun/touchable market money into cash. Imma hang out for a bit.

 

[UncleTrvlingJim]

Moved almost all of my fun/touchable market money into cash. Imma hang out for a bit.

I think around this level is the highest it's going to be for a while.... i think we could have some good days but overall I expect it will be pretty choppy with significant downside risk

 

[bclemms]

Futures are ugly again this morning. If we start hitting circuit breakers those March lows aren't safe. If we stay somewhat paced then we'll stay in the trading range. Big number to watch is S&P 2600 and Dow 22k if those don't hold we'll test the lows.

Only thing I held long overnight was a small position of BYND. Everything else is either short positions or bear ETFs.

 

[Loose Cannon]

I think around this level is the highest it's going to be for a while.... i think we could have some good days but overall I expect it will be pretty choppy with significant downside risk

That's about where I'm at. I wouldn't be surprised if we hang around S&P 2700-2800 for 12 months. And I don't think we're going back to the lows we saw in March. But you said it well, it's almost all downside risk without a lot of upside. Don't see much reason to keep my money in it for now. I don't see us going back towards the pre-Covid highs until it's fully handled (vaccine, herd immunity, or antiviral).

 

[UncleTrvlingJim]

yeah, I'm considering taking all my discretionary funds and just paying off my mortgage. I'm generally against that b/c my effective rate on my mortgage is under 3 percent (after tax deduction of mortgage interest), and generally market returns greatly exceed that. However, a guaranteed 3% return doesn't seem so bad to me right now.

 

[bclemms]

Gold has made this huge handle of consolidation. It's ready to explode but with so many deflationary pressures it could fall to the floor too. If it goes up in the face of that it could be headed to some crazy new highs with the expectation of inflation on the backside of this.

 

[efil4stnias]

just watched Margin Call movie last night. sheesh.

i did chuckle when the CEO was introduced as John TULD. Cmon now....( Richard Fuld ) lolol

 

[Loose Cannon]

yeah, I'm considering taking all my discretionary funds and just paying off my mortgage. I'm generally against that b/c my effective rate on my mortgage is under 3 percent (after tax deduction of mortgage interest), and generally market returns greatly exceed that. However, a guaranteed 3% return doesn't seem so bad to me right now.

That's not a terrible idea, though mathematically you would need to consider that you're also losing future 7-8% annual gains in each year forward vs. the 3% savings, right? That seems to make sense to me (disclaimer I'm on a con call and half paying attention to this post).

It's too bad you can't get 3% in a savings account these days. My GS savings has gone from 3.5% APY to 1% in in the last two years. I'd happily take my 3% for 6-12 months .

 

[superchuck500]

So last week I read about this Vancouver company that is developing psychotherapy treatment meds using psilocybin mushrooms and ketamine - and that the company was very serious and the psychotherapy community was very receptive. The company was trading at 70 cents.

It's now up to 89 cents. The symbol is SHRMF, the company is Champignon Brands. They just announced a $10M private capital deal at 85 cents, so that drove the jump.

Braxia Scientific | Leading The Science of Tomorrow

Capitalizing on the emergence of Psychedelic Medicine for Mental Health Conditions.

champignonbrands.com

Champignon Brands forms North American planning committee to accelerate US expansion

Champignon Brands Inc (CSE:SHRM) (OTCQB:SHRMF) has announced the formation of a new North American clinical expansion committee as part of its plan to open...

www.proactiveinvestors.com

Boom $1.00!

 

[Loose Cannon]

Sold at SPY 278 and change on open. I split that into three equal limit orders at 240, 250, and 260, to see what I can catch amongst the turbulence.

If I don't hit those and we start seeing believable growth again, I'll eat a few percentage point loss and jump back in.

 

[UncleTrvlingJim]

That's not a terrible idea, though mathematically you would need to consider that you're also losing future 7-8% annual gains in each year forward vs. the 3% savings, right? That seems to make sense to me (disclaimer I'm on a con call and half paying attention to this post).

It's too bad you can't get 3% in a savings account these days. My GS savings has gone from 3.5% APY to 1% in in the last two years. I'd happily take my 3% for 6-12 months .

Right, from a strictly numbers perspective, if the economy rebounds in the next year, and we're back to 8% annual stock market gains, then it's a net loss of 4-5% per year for me. On the flip side, there's the lower stress factor of having zero debts. And I'll still have over a years worth of rainy day funds... so, I won't suffer from a lack of liquidity.

 

[bclemms]

So the Dow rallies 400 points in a matter of minutes. When the rally is over, White House tweets out that they aren't against the next recovery package.