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Post by captsmith77 on Jun 29, 2021 19:30:25 GMT
Only holding a few shares of AMZN at the moment, and will add on any dips. Market looks like it wants to turn soon, and I could see at a minimum a small correction in the works.
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Post by JHam on Jun 29, 2021 19:38:30 GMT
Only holding a few shares of AMZN at the moment, and will add on any dips. Market looks like it wants to turn soon, and I could see at a minimum a small correction in the works. I completely agree. I have been worried that the market is too hot for some time now. My plan/hope is to keep solid core positions in my current favorite 4 stocks, but go at least half cash for a while. And to be honest with big time inflation looming in the next few years (imo), I really want to take that 50% cash and put it into a store of value (real estate, bitcoin/ethereum, maybe gold? etc...)
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Post by magnus123 on Jun 29, 2021 19:47:40 GMT
Only holding a few shares of AMZN at the moment, and will add on any dips. Market looks like it wants to turn soon, and I could see at a minimum a small correction in the works. I completely agree. I have been worried that the market is too hot for some time now. My plan/hope is to keep solid core positions in my current favorite 4 stocks, but go at least half cash for a while. And to be honest with big time inflation looming in the next few years (imo), I really want to take that 50% cash and put it into a store of value (real estate, bitcoin/ethereum, maybe gold? etc...) If Powell is really tightening monetary policy because of non transitory inflation, it could be extremely painful for cryptos, who are depending on massive massive supply...
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Post by captsmith77 on Jun 30, 2021 7:43:13 GMT
I completely agree. I have been worried that the market is too hot for some time now. My plan/hope is to keep solid core positions in my current favorite 4 stocks, but go at least half cash for a while. And to be honest with big time inflation looming in the next few years (imo), I really want to take that 50% cash and put it into a store of value (real estate, bitcoin/ethereum, maybe gold? etc...) If Powell is really tightening monetary policy because of non transitory inflation, it could be extremely painful for cryptos, who are depending on massive massive supply... At the end of the day I still like physical precious metals like gold and silver. I just started looking into the possibility of buying 1oz silver bars not too long before the pandemic started. Now you can barely find any, and if you do you're overpaying by quite a bit. On JMBullion.com there's still a significant shortage of products and doing a little research there's a shortage of the metals in general.
I'm hoping to add physical silver and a little gold at some point, but I'm waiting for prices to drop to a more reasonable level. At some point I think their value will skyrocket due to the world's growing level of debt, but I'm hoping it's still years out.
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Post by captsmith77 on Jun 30, 2021 7:57:23 GMT
Also interested in adding a water ETF, and may put that in my ROTH, which is empty at the moment. LOL
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Post by selluwud on Jun 30, 2021 18:35:37 GMT
I've got 4-5 stocks with pivot points coming that I'm holding until I can make a decision, I'm cutting it close. Hopefully before fall I can go into a majority cash position and wait out a correction to pick off some deals. Then on another note, I made a crazy buy today based on a Cramer suggestion......I bought DIDI (Chinese Uber) today 14.50 just for the hell of it, Volume is crazy.
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Post by JHam on Jul 1, 2021 7:20:37 GMT
If Powell is really tightening monetary policy because of non transitory inflation, it could be extremely painful for cryptos, who are depending on massive massive supply... At the end of the day I still like physical precious metals like gold and silver. I just started looking into the possibility of buying 1oz silver bars not too long before the pandemic started. Now you can barely find any, and if you do you're overpaying by quite a bit. On JMBullion.com there's still a significant shortage of products and doing a little research there's a shortage of the metals in general.
I'm hoping to add physical silver and a little gold at some point, but I'm waiting for prices to drop to a more reasonable level. At some point I think their value will skyrocket due to the world's growing level of debt, but I'm hoping it's still years out.
I have seen many people talking about the scarcity of silver at the moment. That's one of the reasons I am more interested in Bitcoin/ETH as a store of value over precious metals. On this topic, Robert Kiyosaki or Rich Dad Poor Dad fame, just spelled out exactly what my concern is. That despite the Fed saying inflation is transitory, that it is actually much worse now and will be even worse in the the next few years, causing the biggest crash in history. He used to be a Bitcoin/crypto bear (if I remember correctly) so it's interesting to see him endorse owning Bitcoin now: "Kiyosaki compared bitcoin, gold, and silver to the U.S. dollar and other fiat currencies, suggesting that he believes bitcoin and precious metals to be better stores of value to use as hedges against macroeconomic cycles. He noted that he was optimistic about crypto in spite of the recent crash, stating that he views it as an opportunity to buy more."finance.yahoo.com/news/rich-dad-poor-dad-author-backs-bitcoin-in-light-of-crash-fear-161315076.html'Rich Dad, Poor Dad' author backs bitcoin ahead of 'biggest crash' in history
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Post by captsmith77 on Jul 1, 2021 22:25:36 GMT
I don't know..... cryptos are extremely volatile, and aren't a for sure thing, IMO. I'm actually kind of leaning away from them and back towards the precious metals, even with a higher than spot price. Haven't bought anything yet with either, so we'll see.
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Post by selluwud on Jul 5, 2021 11:03:21 GMT
I've got 4-5 stocks with pivot points coming that I'm holding until I can make a decision, I'm cutting it close. Hopefully before fall I can go into a majority cash position and wait out a correction to pick off some deals. Then on another note, I made a crazy buy today based on a Cramer suggestion......I bought DIDI (Chinese Uber) today 14.50 just for the hell of it, Volume is crazy. As usual Cramer is an idiot. Luckily, I sold DiDi early with minimal gain. Latest news is China shutting down the ride app during their review. Nasty
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Post by captsmith77 on Jul 6, 2021 8:08:43 GMT
I've got 4-5 stocks with pivot points coming that I'm holding until I can make a decision, I'm cutting it close. Hopefully before fall I can go into a majority cash position and wait out a correction to pick off some deals. Then on another note, I made a crazy buy today based on a Cramer suggestion......I bought DIDI (Chinese Uber) today 14.50 just for the hell of it, Volume is crazy. As usual Cramer is an idiot. Luckily, I sold DiDi early with minimal gain. Latest news is China shutting down the ride app during their review. Nasty I haven't bought any Chinese stocks in quite some time, as I got burned on a few in the past. What I hated more about Chinese stocks more than anything is that many of them would eventually go private and screw over the shareholders.
Funny, as I was close to buying some shares of Luckin Coffee a couple of years back. Luckily I didn't, as I thought it was significantly overvalued at the time, and the stock would eventually fall considerably as the company had issues.
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Post by JHam on Jul 7, 2021 5:10:11 GMT
I have been raising my concern about the market being overheated and wanting to shift from stocks to store of value positions like BTC/ETH, perhaps some precious metals, and maybe even property (although housing prices are crazy right now) - for a while now. I still believe that we are headed for a collapse and still looking to decrease my exposure as much as possible. Stupidly and stubbornly, every time I make a good trade I usually use the profits to beef up the position on another stock I own. Although that said, I did shift about 10% of my portfolio to BTC and ETH. I'm still debating whether to add more there or diversify into gold etc...I am hoping however, that some of the stocks I own will hurry up and move so that I can take some profits and de-risk myself a bit, before this potential crash happens.
Below is a post from someone on reddit that encapsulates their fears I have in a much more detailed way than I could have. I am not saying that this will happen for sure, but I want to make sure people who read this board also get this viewpoint so that they aren't caught off-guard if/when things start to go south:
https://www.reddit.com/r/wallstreetbets/comments/oe9ruu/how_to_play_the_upcoming_market_crash/
I am not sure about his plays, but I'd love to hear some thoughts on his forecast.
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Post by captsmith77 on Jul 8, 2021 7:01:58 GMT
Yes, at some point it has to happen. The value of currencies will have to be tied in with something else, like gold or silver. Interest payments alone cannot be paid off if the debt continues to rise. I still prefer hard assets like gold or silver over cryptos; wish I owned some gold and silver. demonocracy.info/infographics/usa/world_debt/world_debt.htmlYou look at just the US debt load, and it's nearly doubled since this came out. Japan has the highest debt to GDP ratio, however, and it only makes sense if things start to fall apart there first. The US wouldn't be far behind. We've already seen what happens during a pandemic.... hoarding and rushing the stores for basic supplies to get by. We're also gonna see more lines at the pumps as the supply chain struggles to meet demand. Another pandemic outbreak that causes businesses to shutdown will break the camel's back, IMO. The US should give China a multi-trillion dollar bill for the costs associated with the pandemic; a bill that would in effect decrease their debt burden. The rest of the world would be smart to do the same. www.usdebtclock.org/
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Post by magnus123 on Jul 8, 2021 10:15:15 GMT
You could simply erase the debt that is on the balance sheet of central banks
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Post by selluwud on Jul 8, 2021 12:07:13 GMT
When the Chinese don't pay their bill, we simply write it off....right? Isn't that how the tax laws written by political lawyers work? What tax break that would be.!
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Post by JHam on Jul 19, 2021 14:04:11 GMT
Buckle your seatbelts. It’s ugly out there today.
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Post by selluwud on Jul 19, 2021 14:16:11 GMT
Buckle your seatbelts. It’s ugly out there today. Yep, more inflation on the way. One of my building material wholesale providers of pre-finished trim just doubled an already high cost due to shipping container prices jumping from 1500 to 25,000 per each. Ouch!
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Post by JHam on Jul 19, 2021 14:19:24 GMT
Buckle your seatbelts. It’s ugly out there today. Yep, more inflation on the way. One of my building material wholesale providers of pre-finished trim just doubled an already high cost due to shipping container prices jumping from 1500 to 25,000 per each. Ouch! Jeeze. Sadly I think we are going to hear a lot more stories like that in the near future. I think there is a lot of ingredients in the mix today. I hate being this exposed.
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Post by magnus123 on Jul 19, 2021 14:21:17 GMT
I heard that the sell off is caused by Delta variant concerns. Commodities are trading accordingly with oil collapsing and panic buying into treasuries.
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Post by JHam on Jul 19, 2021 14:21:21 GMT
I would not be surprised if the DOW loses 1000 points today.
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Post by captsmith77 on Jul 19, 2021 14:38:05 GMT
My account is in the green this morning; didn't see that coming.
I had planned to average down with a couple of stocks (AMD & KEYS), but no need as both are already green or almost there, and so I was able to double my initial investment in ONDS that I started this morning. If it drops down to the right price again this morning I'll add.
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