The Official Stock Market Thread

[JMarchand1981]

Pretty sure my group alone is responsible for all of the volume today on the WMT 06/16/23 OOM calls up to the $170's.

[GeechQuest]

I’ll have everybody know that AUPH was the top market gainer this past month….

Please clap.

[NeedChapmans]

Anyone see the 30-year spike 50 points to over 6% this morning?

I think July is the month we start to see the housing prices collapse. 100 points just this week on the average 30-year; almost unaffordable for the average Joe.

[calculusdork]

Originally Posted by NeedChapmans

Anyone see the 30-year spike 50 points to over 6% this morning?

I think July is the month we start to see the housing prices collapse. 100 points just this week on the average 30-year; almost unaffordable for the average Joe.

Maybe regionally, but I don't see it happening in my area any time soon. Local population growth is nuts, still seeing an influx of people from places like DC and California.

To your point though ... dang I had no idea the rates were so much higher now.

[NeedChapmans]

Originally Posted by calculusdork

Maybe regionally, but I don't see it happening in my area any time soon. Local population growth is nuts, still seeing an influx of people from places like DC and California.

To your point though ... dang I had no idea the rates were so much higher now.

IF supply catches up (not sure), there will be a reckoning on home values. If supply doesn't catch up, the housing market will simply because impossibly tight where rates will soar past 10%. There will be few buyers and even fewer sellers. Hoping very much for the former as the latter would put us on fringe depression levels (which I think is unlikely).

[Cheken]

jumbo rates are suprisingly still in the 4s despite agency stuff in the high 5s. With that said, anyone see this drop being dragged out for a couple more days next week before the feds meeting?

[k13]

Originally Posted by calculusdork

Maybe regionally, but I don't see it happening in my area any time soon. Local population growth is nuts, still seeing an influx of people from places like DC and California.

To your point though ... dang I had no idea the rates were so much higher now.

It will be nationally everywhere only a matter of time.

[Carrbeaz]

Grats to those who bought puts Thur/Friday

[NeedChapmans]

Wow. Major crypto getting frozen this morning; will scare the masses into getting out. May get BTC under $20,000 today.

And a red red red start. Here comes another wonderful week. Ugh.

[pcptrade]

Originally Posted by pcptrade

Looking at the charts of Cryto and Market Indices, there could likely be more downside ahead imo after this oversold rally. BTC and ETH could drop another 30-50%. SP500 could drop to 3500/3200.

We have more pain ahead. The correction is not over yet imo

[rcmb3220]

Originally Posted by k13

It will be nationally everywhere only a matter of time.

It wouldn’t surprise me if housing gets by relatively unscathed even when all hell breaks loose everywhere else. We’ve had double digit interest rates before.

[Brobocop]

Originally Posted by NeedChapmans

IF supply catches up (not sure), there will be a reckoning on home values. If supply doesn't catch up, the housing market will simply because impossibly tight where rates will soar past 10%. There will be few buyers and even fewer sellers. Hoping very much for the former as the latter would put us on fringe depression levels (which I think is unlikely).

I can't see supply ever meeting demand, at least any time soon. In my area (northeast Ohio), large apartment complexes are going up all over. The houses that are being built are all being done by these large builders that put up shoddy homes and charge insane prices. I just bought a house at 2.99% which I'm happy about. Even if the price of the house falls, I look at it like this. The apartment I was living in two years ago now costs $1,400 a month for 900 square feet. I'm now in a house that has a mortgage of $1,900 and is almost 3,000 square feet. People who rent now and who aren't looking for a house will eventually change their minds which will always put pressure on the supply of homes.

[mjwoop]

Fingers crossed that all crypto drops to its real value of $0 today

[Brobocop]

Originally Posted by mjwoop

Fingers crossed that all crypto drops to its real value of $0 today

My only fear with that is what else would it take with it? Otherwise I really hope that this stops people from going in on crypto but we all know that the next big scam will catch people in its web.

[Boo]

I wonder how OBJ, Trevor Lawrence, Aaron Rodgers, Saquon Barkley, Klay Thompson, Cade Cunningham and others feel about taking some or all of their contract money in crypto?

[k13]

Originally Posted by rcmb3220

It wouldn’t surprise me if housing gets by relatively unscathed even when all hell breaks loose everywhere else. We’ve had double digit interest rates before.

How did that go in 2008.. even without high rates and inflation.

This should be even worse.
All this low supply is just fake. Supply will keep going up and up.

[k13]

Everything is going back to pre-covid sooner or later.

[bradical]

Originally Posted by mjwoop

Fingers crossed that all crypto drops to its real value of $0 today

Says the poster on a sports card forum.

[Blazed]

.............

[mjwoop]

Originally Posted by bradical

Says the poster on a sports card forum.

Who is a hobbyist who doesn't view sports cards as an investment (and subsequently ignores them from the standpoint of any net worth calculations and/or planning).

[shortstopguy12]

Rough day out there… just sprinkled a little bit onto my blue chip investments.. I’m not in crypto, but it’s having a bad day

[nman84]

Originally Posted by rcmb3220

It wouldn’t surprise me if housing gets by relatively unscathed even when all hell breaks loose everywhere else. We’ve had double digit interest rates before.

Hyper inflated assets are all getting corrected. Real estate won’t be as bad but I definitely don’t think it will be immune to what’s happening. I’m in San Diego, where many thought it was one of the safest places to buy/invest just three months ago. Already seeing corrections due to interest rates. Seeing homes sit on the market for multiple weeks now with most offering price reductions after 10 days.

It won’t be a Zion or Bitcoin level correction, but wouldn’t be surprised by 30%

[anusinha]

Originally Posted by nman84

Hyper inflated assets are all getting corrected. Real estate won’t be as bad but I definitely don’t think it will be immune to what’s happening. I’m in San Diego, where many thought it was one of the safest places to buy/invest just three months ago. Already seeing corrections due to interest rates. Seeing homes sit on the market for multiple weeks now with most offering price reductions after 10 days.

It won’t be a Zion or Bitcoin level correction, but wouldn’t be surprised by 30%

I agree, here in the Bay Area im seeing prices start to peak and asking prices come down a touch.

As a whole, the US population isnt growing much, boomers are about to die off, and they keep building houses. Supply will catch up soon and possibly overtake demand.

[bradical]

Originally Posted by mjwoop

Who is a hobbyist who doesn't view sports cards as an investment (and subsequently ignores them from the standpoint of any net worth calculations and/or planning).

But you do place a value on them? You do purchase them at what you see as a fair market price and/or sell them for a potential gain (or loss)?

[KhalDrogo]

Originally Posted by bradical

But you do place a value on them? You do purchase them at what you see as a fair market price and/or sell them for a potential gain (or loss)?

A hobbyist puts a dollar value on pure ownership or experience. There is absolutely no dollar value of the pure ownership or experience of crypto. Many groups marketed subscription services as NFTs to justify ridiculous prices. But crypto doesn’t even have that.