Started an IRA a little while back
Looking for some advice on what to keep in there
I use Fidelity if it helps
Looking for some advice on what to keep in there
I use Fidelity if it helps
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Climbing back?
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Two new entries(small), in true degenerate fashion I am aping into positions during a week or two where the market cld bend me over and make me say it’s name. Both SPY and QQQ look Toppy AF, I’ve been saying the Russell was topped since last week, the only thing holding it up were WSB sentiment in meme stocks since most of those reside in IWM. Puts on Spy QQQ IWM are not the worst idea, but after that Fed meeting and Biden-Putin fist bump, things cld get interesting. I feel the Fed will say they were talking about, talking about tapering, but now they have the retail numbers declining and lumber prices plummeting to support their stance. So, M2 keeps chugging. It’s probably going to take the market a week or two to process this, but I’m just gonna decide what happens now. They take short term profit, send this shit to the moon until Jackson Hole in August, AMC climax or Robinhood IPO cld be a nice signal the top is in. But that’s a more long term viewpoint.
These plays are more based on how I see current macro landscape. First, Madison Square Garden. I was surprised to see it’s been beaten down, actually pummeled. This goes against my current strategy of seeking value, but I think sentiment for New York reopening will be bonkers. Not sure any stock represents resurgence of New York more than MSGS. So fuk it. Play it Alicia Keys!RSI is low, not sure if selling momentum has peaked so I wouldn’t go ballz deep, averaging down opportunities is likely, but I like to stick the tip in first before going ballz deep.
Next up, Coeur Mining CDE, things I like....it’s been beaten down to a key trend line....it’s had 5 touches at support before consolidating up in its current position and finally I think it’s a way to leverage both gold and silver. Out of money calls by end of year are close to zero, which is always nice. I already have a position in LODE, so I guess this is what they call diversifying.[6:07 PM]Lastly, I bought NYCB today. Again, New York theme, it has lagged the other banking centers, but I like the Stonk. It’s pretty deep fuckin value. It’s topped around 12.5 a few times but forming a broadening wedge, if it pops above 13.5 it will make me happy. Plus it’s a hedge in case the Fed got a screw up their ass and became hawkish all the sudden.
TLDR; New York is opening, I like MSGS which is beaten down despite absurd valuation. CDE is a good leveraged inflation hedge in face of Fed not backing off taper. NYCB is pretty safe for both rate hike and New York opening.Comment -
Don't take my word for it....you now have Jamie Dimon....Tudor-Jones...Chad Saylor all making the rounds to front run the Fed because they know Fed ain't backing down.....https://youtu.be/tgAV64RoPswComment -
Buying GLD on this weakness.
Just a reminder you can make solid cash on AMC. The Jul 2 $145 call is trading at $5.40. Short that fvvker. The stock is under $60.Comment -
Investing.com - The Federal Reserve kept interest rates and monthly bond buying steady, though signaled that it could hike rates sooner than previously expected.
The Federal Open Market Committee left its benchmark rate unchanged in the range of 0% to 0.25% and said it would continue its $120 billion monthly bond purchases.
The Fed has come under pressure to signal a willingness to begin taking its foot off the stimulus accelerator at a time when inflation is running at its hottest rate in years.
The central bank appears to be taking note.
The Fed hiked its interest-rate outlook in 2023 to 0.6% from previous projections of 0.1% in March, signalling two 0.25% rate hikes in 2023, the Fed’s Summary of Economic Projections showed.
It has previously pointed to its three part test -- maximum employment, inflation reaching 2%, and on track to run moderately above 2% for some time – needed to achieve a lift off in rates.Comment -
I trimmed Monday and Tuesday and put a lot of semi-aggressive "stop loss" in play on my key holdings. To many at ATH.
When was the last time we had a healthy 5% trim?? August/Sept 2020??
My gut (which includes 40 years of trading) just tells me a trim is on the horizon.Comment -
So the Fed comes out and says they are now thinking about thinking about the raising of rates in 2023 instead of 2024 and the gold market falls like a stone. This on a day with really big inflationary numbers that give further proof that the inflation situation is here to stay. I think the market got it wrong with the gold and silver and that is indeed transitory. Gold is on sale folks with deep discounts same for silver. I picked up a few more shares of AU which has been beaten down lately with a killed worker and the overall gold play. I think I'll pick up some silver shares sometime before the weekend and probably double my current position which is tiny compared to the gold positions that I hold.
It remains to be seen if the overall stock market is able to shake off this latest realization that in about 12-18 months the fed plans on raising rates. I think it will, and probably starting in about 30 minutes when the employment numbers come out. That may spark a rally going into the weekend.
This whole dog and pony show from yesterday going into the weekend is brought to you by the trick, trap, fool and fuk you crew. I do think the market see a down turn of major proportions but I just don't think that yesterday is that spark. It will probably be something else that happens on the international stage in a 1-3 month time period.Comment -
What happens to the market when a cyber attack takes out access to electronic trading for an extended period?
Fastly a few weeks ago Akamai last night. Media suspiciously quiet. 4 minute about the outage below.
Banks, international couriers impacted as content network Akamai hit with outage - Bing videoComment -
Bear pigs get slaughtered tomorrow. Serves them right. Actively seeking the destruction of people’s lives during one of the most fragile moments in history...I hope they die painful and remember to never root against America. Filthy pigs. Deserve to lose everything.Comment -
Good post.
I wouldn't worry about the dollar and rates just yet. The blood spilled in commodities is unsettling though I must admit. I bought SLV today. But this carnage will probably continue for a little while.
Gold is headed for $2400 by the end of next year. But we could see $1650 first.Comment -
The float is so small, this cld easily go to $10-$15 if a bull market ramps up. It also means they are likely to dilute shares many times over with any sustained pumps. People who sell early will regret as it’s much harder to time re entering before the train leaves the station.Comment -
yes of course shorting is fine, but many bears become consumed with seeing thru to complete destruction and will celebrate the day a virus comes, a nuclear plant leaks or an ev crashes and burns just to fill their pockets. It’s one thing to short a stock bc you think the price is too high, it’s another thing to stay leveraged long on puts bc you can’t wait for death and destruction and for a generation of investors to get wiped out. If dark pool is any indication their gamma is about to squeezed out with a ball gag in their mouthsComment -
I guess the market got witched at the close.Comment -
I got lots of puts lolComment -
A little bloody out there.
A couple of stocks with great dividends you can add while waiting for the storms to pass;
FCT 9% Floating rate fund. Good to have a "floating" rate when rates are ticking higher
TTE 8% Total is big oil but also is majorily diversifying into renewablesComment -
Dollar maybe breaking out here...should know by mid week, if it does I’m pushing the nuke button on everythingComment -
If the stock market crashes, will gold stocks crash too?Cause Sleep is the Cousin of DeathComment -
Remember how I started to short the QQQ and IWM about a month ago? Well on Friday, the market closed at the lows and below a trend line set up since the we flu hit. We'll see if the selling continues, and if it does, it is time to add to the shorts. I kind of expect a bounce here. Looking around the horn on a weekly chart basis, I see that the Dow transports closed right on the 20WMA along with SMH, and XLF. These have yet to break the up trend in my opinion. Only the IWM closed below the 20WMA, while the SPY still has a ways to go before getting there and the QQQ didn't do that bad at all relatively.
This week I'll be looking for the SPY to continue down and closing under 406 for a confirmation of the end of the trend. Of course IWM, $DJT, SMH, XLF and even the QQQ will need to continue down for me to believe this is the big crash I have been expecting.Comment -
Gold is a funny animal. Strong dollar and rising rates = bad. Inflation = good.
Gold has a 4000 year trading history. It's bumped and bruised by short term headwinds like a strong dollar. But gold has been rising on the winds of inflation for thousands of years, long before there even was a dollar I might add.
Your play is to buy gold in inflationary times like we are entering. The $34 trillion debt is a backstop to any serious strengthening.Comment -
Tomorrow going to be another bloodbath
when is this going to end?Comment
