I'm not very into the "real" stock worlds, but I've been playing around with cryptocurrencies for the last few weeks (If you have no idea what I'm talking about the most popular one is "Bitcoin"[Currently priced at $1,250ish per]) the last few weeks and have been learning a TON about markets. Granted Bitcoin appears to be the wild wild west, but man is this cool stuff to learn.
I have a hard time getting on board with Bitcoin. Been watching it for a few years now. It's certainly interesting and offers anonymity but relies on some outside factors. I've been more wrong than right in the recent market changes so what the hell do I know. Hard to believe Bitcoin is on parity with gold but here we are.
Can't go wrong if you just BUY BUY BUY!! I haven't contributed a penny since the lst of the year, but i'm still +$7000. If i had been working and contributing this year, i would be more like +$12k. Back to work Monday.
The current market is built on anticipation. A correction is in the offing when reality strikes, even IF most of the promises are fulfilled. Question, Do you actually trust the politicians to come through? Why this time when so many times before they let us down? My contrary approach has me wondering.....I really got spooked when the TV idiots started talking about a DOW 30,000!
As long as there's a greater fool still buying, the bubble can still expand. But, when there's an entire industry largely based on made-up bullshit and lies... and bets surrounding those lies... and bets surrounding the outcome of the other bets made about those lies... and still more bets about the outcome of the bets made on the outcome of the original bets about made-up bullshit... well, yeah.
I was thinking about that when I typed that. I'm not a Wall Street insider by any means, especially not anymore, but that movie was one of the more accurate portrayals of the underbelly of that beast that I've ever seen.
People have been saying there is another crash coming since 09.... I'm not holding my breath. Not saying it makes sense. But the market doesn't have to make sense.
I'm not expecting a crash but a 10 % correction wouldn't surprise me in the least. When that happens I'll be buying, until then I'm on the sidelines.
There's really no indicators of a correction, let alone a recession. We had a 'correction' last year so
https://start.tastyworks.com#/login?referralCode=YTP6JEX8YS If anyone trades options, or is looking to getting into trading options, take a look at Tastyworks. The people who own this brokerage are the same guys who developed ThinkorSwim. They've designed a new platform to be easier for people to use, and created a brokerage with lower commissions on option trades ($1.00/contract and no closing commission, but there is a small exchange fee - like 40 cents). They also have tons of training stuff on their site. I'm not tryin' to spam, but full disclosure, I do get benefit from using the link above. I don't usually post "opportunities", but these people are a good company and cheap.
I'm getting killed on Caterpillar (earnings) and Tesla (Elon Musk could fart, and the stock will jump 5%) at the moment. I'll live, but they're killin' my mojo. Volatility, market-wide, is way down, which is bad for the way I trade. S&P 500 volatility is at about a 7 on a scale of 0-100.
I've gotten into the Showtime series Billions. It focuses around a hedge fund company and the US Attorney General trying to nail his ass. I really like the show and wonder how much of it is true or even partially true regarding dealings on Wall Street?
I'm not alone in my disbelief that this thing keeps going up without taking a breather. I'm looking at gaps up two days in a row, and solid green candles, after weeks of climbing. Some days, I hate being a contrarian. I look for oversold and prices near yearly and all-time highs. They're everywhere and no one seems to be giving up. LOL When this market pops, I'm gonna make some money.
