The Official Stock Market Thread - Page 47

finfangfan · 03-03-2021, 04:05 PM

Quote:

Originally Posted by nman84

Thanks for all your posts about Roth IRAs. Found out last year my company allows back door contributions. It’s through paycheck deductions/rollover though so I don’t have immediate access to the funds to take advantage of dips.

I’m glad you are enjoying the Roth. It’s actually something I just started taking advantage of in recent years and is something in hindsight I wish I took advantage of earlier in life. During the 2008 dip I started buying individual stocks in a taxable account. Many of those stocks (AAPL, HD, DIS, and to a lesser extent INTC) have increased significantly over the years and I really wish I had the foresight to have bought them in a Roth instead.

Roth isn’t perfect and it does have some drawbacks... eg since there are no taxable gains you get no benefit from deducting losses. And you are limited in the amount you can put in each year... but overall it is a great tool available to help the middle class build wealth over time.

My nephews each go to the same college and have taken the same Freshman investing course each year. One of the main things the instructor hammers into their heads is to start contributing to a Roth ASAP. Some of these 18/19 year olds will be in great shape if they are able to start investing that early. Time in market is a powerful thing. Time in the market in a tax free account is even more powerful.

Good luck!

33GHill · 03-03-2021, 04:09 PM

I like green days but days like this help with accumulation.

finfangfan · 03-03-2021, 04:21 PM

Quote:

Originally Posted by 33GHill

I like green days but days like this help with accumulation.

I liken days like today to leveling up in a video game. It’s like a brand new world where you have to rebuild and hopefully get even stronger to take it to the next level.

Although a string of red days make me want to chuck the controller! Fortunately, we aren’t there yet!

33GHill · 03-03-2021, 04:33 PM

Quote:

Originally Posted by finfangfan

I liken days like today to leveling up in a video game. It’s like a brand new world where you have to rebuild and hopefully get even stronger to take it to the next level.

Although a string of red days make me want to chuck the controller! Fortunately, we aren’t there yet!

Agreed, like taking a step back to take 2 steps forward.

These days pale in comparison to those days during the 2008-9 crash, I remember consecutive weeks where the market was down anywhere from 1-4% each day. Crazy times.

nman84 · 03-03-2021, 05:30 PM

Quote:

Originally Posted by finfangfan

I’m glad you are enjoying the Roth. It’s actually something I just started taking advantage of in recent years and is something in hindsight I wish I took advantage of earlier in life. During the 2008 dip I started buying individual stocks in a taxable account. Many of those stocks (AAPL, HD, DIS, and to a lesser extent INTC) have increased significantly over the years and I really wish I had the foresight to have bought them in a Roth instead.

Roth isn’t perfect and it does have some drawbacks... eg since there are no taxable gains you get no benefit from deducting losses. And you are limited in the amount you can put in each year... but overall it is a great tool available to help the middle class build wealth over time.

My nephews each go to the same college and have taken the same Freshman investing course each year. One of the main things the instructor hammers into their heads is to start contributing to a Roth ASAP. Some of these 18/19 year olds will be in great shape if they are able to start investing that early. Time in market is a powerful thing. Time in the market in a tax free account is even more powerful.

Good luck!

Agree with all of this and, I too, wish I understood this 15 years ago after getting out of college. Better late than never and I’m definitely not letting my kids make the same mistake. I’m actually using my Roth in place of a 529.

JMarchand1981 · 03-03-2021, 07:36 PM

I love making money on deep red days.

I took some losses in long positions but my hedges made up for those losses.

Where I made money was NXST, SPTN, MTOR, APTV and BIG. Even lowly BA closed green today.

xbignick · 03-04-2021, 10:01 AM

Ooof.

finfangfan · 03-04-2021, 10:06 AM

Quote:

Originally Posted by xbignick

Ooof.

Right... another rough one!

monkeymcgee · 03-04-2021, 10:23 AM

This is one of those days where I trust the moves I made already and close all the apps/tabs.

finfangfan · 03-04-2021, 11:13 AM

The good news is that I own more shares of PLTR, DMYD, and AI than ever before!

The bad news is on Monday I was within 2% of my 12/31/21 target balance in my trading account and now I’m closer to 14% away.

Added 100 shares of DMYI for the first time at $11.42. The spac train might be over but I hope I can squeak a little gain from this one. I love DMYD so worth a shot.

JMarchand1981 · 03-04-2021, 12:05 PM

Quote:

Originally Posted by finfangfan

The good news is that I own more shares of PLTR, DMYD, and AI than ever before!

The bad news is on Monday I was within 2% of my 12/31/21 target balance in my trading account and now I’m closer to 14% away.

Added 100 shares of DMYI for the first time at $11.42. The spac train might be over but I hope I can squeak a little gain from this one. I love DMYD so worth a shot.

You’ve lost 12% since Monday?!?!? Holy smokes. You must be long long and nasdaq heavy. That’s dangerous in choppy waters but to each their own.

finfangfan · 03-04-2021, 12:11 PM

Quote:

Originally Posted by JMarchand1981

You’ve lost 12% since Monday?!?!? Holy smokes. You must be long long and nasdaq heavy. That’s dangerous in choppy waters but to each their own.

It’s my smallest account... my Roth trading account. My larger 401k and taxable stock accounts are separate and haven’t been hit nearly as bad.

xbignick · 03-04-2021, 12:14 PM

Was finally green until Jay started talking lol

finfangfan · 03-04-2021, 12:15 PM

Quote:

Originally Posted by xbignick

Was finally green until Jay started talking lol

Yeah... I thought it was going to end up being a Green Day for me.

Dbacksbaseball · 03-04-2021, 01:28 PM

Rough Day for me. But days like today help me lower positions closer to bottom lines.

NCtheBBcradle · 03-04-2021, 02:34 PM

Yeeeesh....

finfangfan · 03-04-2021, 02:50 PM

Does look like we are inching upwards again... we’ll see.

GeechQuest · 03-04-2021, 02:51 PM

JMarch, can you throw a lever and stop the bleeding???

These speculative plays aren't fun anymore

.

Josh611 · 03-04-2021, 03:28 PM

Bleeding probably isn’t over yet but added some QCOM and NVDA.

Had a buy order for apple at $118 but it didn’t quite get there.

Nasdaq has gotten the 10% pullback but still think it can see 12,000

finfangfan · 03-04-2021, 04:03 PM

What’s on everyone’s shopping list at reduced prices?

I think PLTR is a good deal here at $24.68. And sub-$100 AI will look cheap end of year.

What is everyone else looking at?

patchgenie · 03-04-2021, 05:58 PM

SPAC's are pretty much dead. if khosla can barely get above 10 on the first day then it should be close to the bottom. hopefully there will be less spac's coming out. just added some heavy hitters TBA and KVSA for cheap.

finfangfan · 03-04-2021, 06:33 PM

Quote:

Originally Posted by patchgenie

SPAC's are pretty much dead. if khosla can barely get above 10 on the first day then it should be close to the bottom. hopefully there will be less spac's coming out. just added some heavy hitters TBA and KVSA for cheap.

They are taking a hit for sure... oh well, it was fun while it lasted!

jeg2315 · 03-04-2021, 06:49 PM

More downward volatility likely if option metrics play out. I don't think this is the lowest we go near-term.

Dipped my toes in some DOCU and COST yesterday, and added some shares on the Q's/SPY today just to accumulate.

Glad I sold some covered calls on PLTR during the Monday green. Love selling premium.

JMarchand1981 · 03-04-2021, 10:38 PM

Quote:

Originally Posted by GeechQuest

JMarch, can you throw a lever and stop the bleeding???

These speculative plays aren't fun anymore

.

It's not just the specs getting killed though.

Look at aapl. Perhaps one if the best companies in the world. Definitely a favorite of jmarchand1981. They got smoked today too. Pypl? Another favorite. Got smoked today. These huge names with profits up the wazoo are all getting hammered.

This is payback for the GME nonsense. The pros are losing too, but they are hedged, helping to mitigate those losses. The margined, leveraged and weakhanded (these are three distinct groups) are selling into weakness, and we all know what to make of that.

The composed, fundamentally sound are watching. I'm watching. I'll bite when the time is right but I like my portfolio mix right now.

JMarchand1981 · 03-04-2021, 10:39 PM

Quote:

Originally Posted by jeg2315

More downward volatility likely if option metrics play out. I don't think this is the lowest we go near-term.

Dipped my toes in some DOCU and COST yesterday, and added some shares on the Q's/SPY today just to accumulate.

Glad I sold some covered calls on PLTR during the Monday green. Love selling premium.

A lot of time when you post, it's like a mirror image of what I have going on.

Take that as a huge compliment. It's meant to be one.

03-04-2021, 10:01 AM	#1157
xbignick Member Join Date: Jul 2010 Location: New Jersey Posts: 29,306 xxbignick	Ooof. __________________ @xxbignick on twitter

03-04-2021, 12:14 PM	#1163
xbignick Member Join Date: Jul 2010 Location: New Jersey Posts: 29,306 xxbignick	Was finally green until Jay started talking lol __________________ @xxbignick on twitter

03-04-2021, 01:28 PM	#1165
Dbacksbaseball Member Join Date: Jul 2014 Posts: 10,007	Rough Day for me. But days like today help me lower positions closer to bottom lines. __________________ Buying Chase Utley and Jimmy Rollins Autos and Rare RC's Buying Syracuse Active Football/Basketball Alumni

03-04-2021, 02:34 PM	#1166
NCtheBBcradle Member Join Date: Jun 2014 Posts: 295	Yeeeesh.... Last edited by NCtheBBcradle; 03-04-2021 at 02:35 PM. Reason: Autocorrect

03-04-2021, 03:28 PM	#1169
Josh611 Member Join Date: Dec 2010 Location: Michigan Posts: 10,024	Bleeding probably isn’t over yet but added some QCOM and NVDA. Had a buy order for apple at $118 but it didn’t quite get there. Nasdaq has gotten the 10% pullback but still think it can see 12,000 __________________

03-03-2021, 04:09 PM	#1152
33GHill Member Join Date: Oct 2020 Posts: 231	I like green days but days like this help with accumulation.

03-03-2021, 07:36 PM	#1156
JMarchand1981 Member Join Date: Jul 2013 Posts: 34,438	I love making money on deep red days. I took some losses in long positions but my hedges made up for those losses. Where I made money was NXST, SPTN, MTOR, APTV and BIG. Even lowly BA closed green today.

03-04-2021, 10:23 AM	#1159
monkeymcgee Member Join Date: Apr 2010 Location: VA Posts: 10,974	This is one of those days where I trust the moves I made already and close all the apps/tabs.

03-04-2021, 11:13 AM	#1160
finfangfan Member Join Date: Oct 2013 Posts: 11,055	The good news is that I own more shares of PLTR, DMYD, and AI than ever before! The bad news is on Monday I was within 2% of my 12/31/21 target balance in my trading account and now I’m closer to 14% away. Added 100 shares of DMYI for the first time at $11.42. The spac train might be over but I hope I can squeak a little gain from this one. I love DMYD so worth a shot.

03-04-2021, 02:50 PM	#1167
finfangfan Member Join Date: Oct 2013 Posts: 11,055	Does look like we are inching upwards again... we’ll see.

03-04-2021, 02:51 PM	#1168
GeechQuest Member Join Date: Jan 2014 Location: Cedar Park, TX Posts: 10,779 GeechQuest	JMarch, can you throw a lever and stop the bleeding??? These speculative plays aren't fun anymore .

03-04-2021, 04:03 PM	#1170
finfangfan Member Join Date: Oct 2013 Posts: 11,055	What’s on everyone’s shopping list at reduced prices? I think PLTR is a good deal here at $24.68. And sub-$100 AI will look cheap end of year. What is everyone else looking at?

03-04-2021, 05:58 PM	#1171
patchgenie Member Join Date: Aug 2009 Posts: 6,809 americansportscards	SPAC's are pretty much dead. if khosla can barely get above 10 on the first day then it should be close to the bottom. hopefully there will be less spac's coming out. just added some heavy hitters TBA and KVSA for cheap.

03-04-2021, 06:49 PM	#1173
jeg2315 Member Join Date: Jan 2008 Location: Bay Area, CA Posts: 2,399	More downward volatility likely if option metrics play out. I don't think this is the lowest we go near-term. Dipped my toes in some DOCU and COST yesterday, and added some shares on the Q's/SPY today just to accumulate. Glad I sold some covered calls on PLTR during the Monday green. Love selling premium.