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I've been wanting to enter the stock market over the last couple of years, but it just frightens me, because I see no logic in what's happening. There's still far too much easy money around and I think the whole things just going to collapse
(P.s. thanks Biden!)
Crypto is crashing, the Hong Kong market is down 3.5%, same with Japan, US market futures are down 1-2.5% overnight right now... tomorrow will be a blood bath.
:thumbsdown:
Woohoo I was right!!
...Anyone need their car washed? $25 today, $30 tomorrow, $50 by Friday.
Maybe I'm reading everything wrong, I haven't looked over everything with a fine tooth comb, but it didn't really look like any individual stocks fell really hard... it's just that all stocks were down a little and that added up to entire indices falling.
And bitcoin pulled back, but that happens every year.
I guess we'll wait to see what happens tomorrow.
Some pretty big one day losses still, Boeing, Ford and GM all down over 7% in a single day. S&P 500's top 10 companies have lost more than $1 trillion in market cap in 4 days of trading.
Out of the S&P, Dexcom took a massive hit. -76%. Boeing's a government contract. Their profit is assured. They'll shrug it off and recover. The automakers are always going to take a hit when gas prices are high. Couple that with the supply chain issues, and it's a double whammy. But they've been in worse positions before and they've recovered. They'll do it again.
The top 10:
#1 Apple (-3.5%, so what)
#2 Microsoft (-3.7%, again, so what. They control our lives anyway. They'll just make us buy Windows 12 and make more money)
#3 Amazon (-5.3%. Honestly, they deserve it. If they lowered the cost of Prime, they'd be soaring.)
#4 Alphabet A (-3.9%. They haven't lost enough, in my opinion. Fuck Google)
#5 Alphabet C (-3.7%. See above)
#6 Tesla (-7.6%. Whatever, they've been down worse before.)
#7 Berkshire B (-3.4%. I'm sure Buffett's losing sleep over this.)
#8 UnitedHealth Group Inc (-3%. An insurance company)
#9 Johnson & Johnson (-1% :rolleyes: )
#10 Exxon Mobile (-4.5%. They wouldn't be hurting if it weren't for Biden's bad policies)
No one in the top 10's gonna shut down any time soon. Seriously, except for Dexcom, I don't see any company in the S&P 500 that's in serious danger. If people keep their wits about them and don't start running for the exits, everything will recover fine.
True... they're not in danger as companies, maybe even a great time to buy, but as year-to-date they're down big so it's still a big story:
Apple - Down 25% YTD
Microsoft - Down 28% YTD
Amazon -38%
Alphabet -28%
Tesla -39%
Berkshire -5.8%
UnitedHealth -6.5%
J&J -.15%
Exxon +56% (I guess Biden isn't all bad? :lol: )
Agreed, not shutting down soon... but we're trending towards recession it seems.
Gas is down 25% and inflation is down/holding at 8.5% YTD... are we at the bottom? Is it time to buy? Where's my crystal ball...
I bought 3 call options on SOFI before they released earnings and their stock price jumper 25%. Tripled up :) It was only 100 to 300 but its a win
I bough some OXY, I hear there's some sort of deal baked into the inflation bill that I believe did pass in the US? Supposed to give higher credits for carbon recapture which they do a good job of (don't quote me, I skimmed the article :lol: ) and will boost their profits. Buffett bought a big chunk which is usually a good sign too.