Discussion ***Official*** 2023 Stock Market Thread 💰

[dullard]

I want to take some profits from nVidia but not sure at what point. I'll buy back in once the bubble deflates a bit.

Nothing wrong with taking profits and buying back in when prices are lower (AKA shorting). The key question is would you buy it now? If not, then you should consider taking profits.

You can't time it perfectly. That will only happen with extreme luck. Extreme luck twice as you have to perfectly time at the top and then perfectly time again at the bottom. Instead, focus on potential and risk. What is the potential upside of holding now? Maybe 10%, 20% more? What is the potential risk? Once people realize that AI is a one-time purchase for companies (it isn't like they are going to buy a bunch of AI chips today and then rebuy quarter after quarter) and this isn't a long term NVidia play, I think it could easily drop 50% back to the $200 range.

 

[FelixDeCat]

What are all the hot AI FOMO stocks at the moment?

You mean like CXAI?

Edit: 400 @ 8.25, sold $10

 

[FelixDeCat]

Holy carp c3.ai had a good day. What's next, 50 or 30? I still don't own it, although I was highly tempted to buy 1 call option for 6 months from now. They stock is easy to borrow if you want to sell short...but I wouldn't. 😉

 

[PlanetJosh]

I wonder if the US goes into default in May if the debt bill fails and stocks crash, including big tech, if preparing to buy the resulting lows is a good strategy. Or it could be a bad idea to hope for a default and then if the default happens and stocks stay low for 5 to 8 years in a depression and then take another 5 or 6 years to rebound. That's waiting almost 15 years on the long side from this month just to make the dip buys worth it.

Edit: But if the full rebound is only a year then that could be something to plan for. It may sound somewhat selfish to want a national debt default so you can buy in a big dip during the ensuing deep stock market crash considering all the hardships many would go through in a depression or big recession. Anyway US lawmakers are saying the debt bill will probably pass, so it looks like there will probably be no default. .

 

[jpiniero]

The US isn't going to truly default in the classical sense. There should be enough tax revenue coming in that they should continue to be able to make interest payments although the Govt would have to shut down until a deal passes. Stuff that's maturing might have to wait.

The media will media though, so it's a bit unpredictable what would happen to the Stock Market. Especially if it lasts for a few weeks.

 

[FelixDeCat]

The US isn't going to truly default in the classical sense. There should be enough tax revenue coming in that they should continue to be able to make interest payments although the Govt would have to shut down until a deal passes. Stuff that's maturing might have to wait.

The media will media though, so it's a bit unpredictable what would happen to the Stock Market. Especially if it lasts for a few weeks.

What will really hurt is a credit downgrade.

 

[FelixDeCat]

Nvidia open to partnership with Intel. Does that make it a buy near its 52 week low?

 

[PlanetJosh]

NVDA down to $380, what a steal! Better jump on it in the morning. meh
(sarcasm btw)

 

[jpiniero]

What will really hurt is a credit downgrade.

Well it passed the House. Fairly easily so I think it's safe to say that it will be on Biden's desk by the weekend.

Back to your regularly scheduled programming of rate hikes but they might pause once (?)

 

[jpiniero]

https://treasurydirect.gov/instit/annceresult/press/preanre/2023/A_20230531_1.pdf

OK this made me laugh. The Treasury is doing a 3 day bill. The auction is today and the issue date is tomorrow. The money is given back on Monday.

 

[FelixDeCat]

https://treasurydirect.gov/instit/annceresult/press/preanre/2023/A_20230531_1.pdf

OK this made me laugh. The Treasury is doing a 3 day bill. The auction is today and the issue date is tomorrow. The money is given back on Monday.

Seems like a deal to me!

 

[FelixDeCat]

Holy carp c3.ai had a good day. What's next, 50 or 30? I still don't own it, although I was highly tempted to buy 1 call option for 6 months from now. They stock is easy to borrow if you want to sell short...but I wouldn't. 😉

C3 sits at $32 after earnings failed to impress.

 

[Brainonska511]

https://treasurydirect.gov/instit/annceresult/press/preanre/2023/A_20230531_1.pdf

OK this made me laugh. The Treasury is doing a 3 day bill. The auction is today and the issue date is tomorrow. The money is given back on Monday.

If I did my math right, the noncompetitive rate basically amounts to a 6.5% return. Though, for 3 days, you'd have to move a lot of money to see more than a few dollars.

 

[jpiniero]

Even better, they are doing a one day bill. The auction is tomorrow, issue date is Monday and matures on Tuesday.

 

[AdamK47]

I'm sure we won't.

It will be very last second after each side has exhausted the allotted time for pandering.

Not only do they wait until the last minute, but they also move the goal posts further out to extend their game.

 

[FelixDeCat]

lol @ rate cuts

The only ones who need to cut rates are banks on their credit cards. It should be illegal to charge more than 19% interest on one.

 

[FelixDeCat]

Nnox

 

[Lost_in_the_HTTP]

OK, who said what?

S&P was up, up, up ... now it isn't.

 

[dullard]

OK, who said what?

S&P was up, up, up ... now it isn't.

Is it a disappointing, over-hyped Apple event? Apple and the S&P500 are almost the same thing (Apple owns so many shares of companies, that it is essentially an S&P500 clone). Whatever happens to Apple, happens to the S&P500 (albeit to a lesser extent). Their correlation coefficient is over 0.9 last time I checked.

 

[AdamK47]

I'm positive on every single one of my positions acquired over the past 14 months.

Let's see how long this rally lasts.

 

[FelixDeCat]

I'm positive on every single one of my positions acquired over the past 14 months.

Let's see how long this rally lasts.

Which one has been your best?

 

[FelixDeCat]

Pacw looking good on the 1 mo chart.

 

[AdamK47]

GameStop fires CEO and makes meme stock king Ryan Cohen executive chairman. funny funny

Stock down 20% in after hours. Earning call at 5 PM. Should be a good one (entertainment-wise).

Edit: They cancelled the earnings call.

 

[FelixDeCat]

Carvana firing on all cylinders.

 

[FelixDeCat]

I'm long Carvana at $13.

Sold this too soon. Got back in today. Long Aug $20 calls at $4.

A consolidation pull back is likely so beware.
I just have 6 call options.