The Investment Thread (19 Viewers)

[Snakehead]

Starting to get real tempted on buying 2 etherium.

I don't have a full ETH, but I bought some a while back and now have doubled how much I had by buying a little now while it's down. A friend of mine in LV mines 3/month. There was a stretch where he was doing really good.

 

[HoustonSaint68]

There was a stretch where he was doing really good.

Lol, occasionally on this thread someone will say something that reminds me of an anecdote I’ve mentioned before.

It was back in the early 90s when people were occasionally wondering if a paradigm shift in market dynamics had occurred due to the internet and the widespread availability of 401k offerings and dollar-cost average saving. I overheard snippets of some guys talking at lunch and it took five full minutes before I realized that they weren’t talking about how they did in a trip to Vegas but rather how they were doing in the market.

 

[Turfie]

I’m trying to catch up on the Redbox stock news. It seems options have suddenly been turned off or delisted. The borrow rate is at 1000%. Short interest is really high.

 

[efil4stnias]

I don't have a full ETH, but I bought some a while back and now have doubled how much I had by buying a little now while it's down. A friend of mine in LV mines 3/month. There was a stretch where he was doing really good.

I have a client that mined Btc waaaay back in the day. Like 2012.

He was in office last week and after we wrapped up business began talking market/crypto.

So he was all giddy about BTC cratering and I'm like why?

Well as it turns out, his "mining" produced him 990 BTC. That he sold at $8.00 a coin in 2013 or so (said it would drop to $1 and when it jumpd to $8 he was like im out). I didn't know what to say lol.

I did the math after he left. Still speechless

 

[Snakehead]

I have a client that mined Btc waaaay back in the day. Like 2012.

He was in office last week and after we wrapped up business began talking market/crypto.

So he was all giddy about BTC cratering and I'm like why?

Well as it turns out, his "mining" produced him 990 BTC. That he sold at $8.00 a coin in 2013 or so (said it would drop to $1 and when it jumpd to $8 he was like im out). I didn't know what to say lol.

I did the math after he left. Still speechless

Wow!

Yeah, I'm not sure what my friend did. He had quit his job when he was mining 3/mo and it was at ~$3-5K/ea. I hope he converted some to stable coins or sold outright.

I bought a Helium miner, but we are in the middle of moving. I'll set it up once we get moved.

 

[bclemms]

Market futures are slightly green. I get the feeling that the recent rally is going to turn into a crash this week. It always seems to take about 3-4 weeks longer for the crash than I normally think. 2008 I was early, covid I was early. Been trying to hold off on buying lotto puts but think its getting to be that time.

 

[Saint_Ward]

Market futures are slightly green. I get the feeling that the recent rally is going to turn into a crash this week. It always seems to take about 3-4 weeks longer for the crash than I normally think. 2008 I was early, covid I was early. Been trying to hold off on buying lotto puts but think its getting to be that time.

The extra day off for US markets makes it hard to gauge, but the FTSE and Russel 2000 are up today.

 

[bclemms]

The extra day off for US markets makes it hard to gauge, but the FTSE and Russel 2000 are up today.

Crypto is up as well. Save for bad news overnight I'm assuming that will likely make for green markets in the morning as well. When the rally begins to fade is when I get concerned for a day of true panic selling. Everyone is playing fade the rally and after each rally the selling pressure intensifies. Next leg down appears to be quite steep with support levels as well. All the makings are there for a big down move.

 

[SaintInBucLand]

Crypto is up as well. Save for bad news overnight I'm assuming that will likely make for green markets in the morning as well. When the rally begins to fade is when I get concerned for a day of true panic selling. Everyone is playing fade the rally and after each rally the selling pressure intensifies. Next leg down appears to be quite steep with support levels as well. All the makings are there for a big down move.

For the spy, resistance seems to be at 390 and 410 on the way up. I'm not sure if we get that high, but those levels are good to watch for. If we hit and retreat then hit again, watch out for a big time pull back and sell off as you indicated. We may even see a scary 320 in the coming weeks.

In the good news horizon, demand for gas seems to be falling as people are definitely driving less and prices are reflecting at the pump. Here in Florida we have dropped significantly in my local area, going from $5.05 a gallon down to $4.69 today, and this is within a week.

 

[Turfie]

Crypto is up as well. Save for bad news overnight I'm assuming that will likely make for green markets in the morning as well. When the rally begins to fade is when I get concerned for a day of true panic selling. Everyone is playing fade the rally and after each rally the selling pressure intensifies. Next leg down appears to be quite steep with support levels as well. All the makings are there for a big down move.

The rally followed by an aggressive fall is almost the consensus the Reddit boards I read.

So much of this is like WWE wrestling. There are people that likely truly know how this story will play out. Nothing would surprise me.

 

[bclemms]

The rally followed by an aggressive fall is almost the consensus the Reddit boards I read.

So much of this is like WWE wrestling. There are people that likely truly know how this story will play out. Nothing would surprise me.

The ones that have been around long enough to see bubbles, watch them pop and remember when inflation and increasing rates existed. It was barely in my investment lifetime so anyone younger than me hardly stood a chance but it was super obvious to most of the old dudes everyone liked to make fun of on twitter on the big run up.

Remember when Portnoy and Elon were pumping sheet coins on twitter calling people like Buffet washed up and an idiot? Well, hopefully the people leaning on advice from twitter feeds learned a lesson.

 

[bclemms]

For the spy, resistance seems to be at 390 and 410 on the way up. I'm not sure if we get that high, but those levels are good to watch for. If we hit and retreat then hit again, watch out for a big time pull back and sell off as you indicated. We may even see a scary 320 in the coming weeks.

In the good news horizon, demand for gas seems to be falling as people are definitely driving less and prices are reflecting at the pump. Here in Florida we have dropped significantly in my local area, going from $5.05 a gallon down to $4.69 today, and this is within a week.

US inventories were up two weeks in a row despite forecast for decreases. Oil isn't really the problem, it's at the refinery level and US refineries have increased the past two weeks. OPEC+ also quietly agreed to start pumping more. Combine that with price related demand destruction and oil is an easy bet to take a dump the next few weeks. However, there could be a window where China reopens fully inside the summer travel season that could create one more swing up. I see deflationary pressures everywhere except travel and food right now.

 

[Turfie]

Scorching start to this week everywhere.

 

[bclemms]

Just trimmed long and added to short position.

 

[SaintInBucLand]

Just trimmed long and added to short position.

I waited a bit longer and ended up selling my calls right before lunch. Seemed to be the most resistance on SPY at 375-376. And now I just got shorts on spy as it just can't seem to break that 376 level.