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DOW 23,000+ today?

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Maybe but it's not locked in. If the trade war gets resolved, and clearly the Chinese economy is hurting a lot more than ours in this war, then it could get back on track quickly.
 
Saw in the paper today that the government shutdown is hurting our economy more than the feds & prez thought it would. What did they expect with all those people not getting a paycheck??? The trickle down effect affects stores, restaurants and even Pizza places.............Once the mortgage defaults start rolling in maybe the banks can light a fire under someone's butt!
 
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Grant 302

basic and well known psychic
My hand isn't anywhere near the panic button. I don't think there's any need to worry about it. If or when there is something to worry about, we should see it from a mile away.
 

TMSBOSS

Spending my pension on car parts and track fees.
7,530
5,247
Exp. Type
HPDE
Exp. Level
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Illinois
Got to wonder how the effect was measured....and so quickly. First missed paycheck was on Friday.
About one percent of the population missed a paycheck two working days before the article was written. Sounds like speculation to me.
 

Grant 302

basic and well known psychic
Anyone have any input on the ROI of theses two stocks? Gilead and Phillips 66? If you want to take if offline PM me but Im looking at these guys right now.

I generally don't think this it a time to buy. I just cashed a bunch of near term bets and pulled the hedges up tighter with some of the profits. But that's more of a comment on short term cycles more than anything. I'm still long term bullish for now.

Disclaimer: Don't sue me, bro. :D

I don't like the biotech sector in general, and GILD seems to be an underperformer to me. If I had to pick one, it would be EW. I won't go into the whys...judge for yourself.

I trade a lot of oil related stuff...but I've never really tracked PSX. Not sure why without digging in, but I have other requirements for trading in this sector. Biggest one is option premiums and liquidity and trading behavior. Otherwise, I think most oil majors trade with high correlation to oil prices. Unless you track and understand the oil markets, I suggest for most to stay away from the sector in general. That said, quick look at the PSX chart - pricing and action look 'dead' to me.

My $0.03, and again, don't sue me, bro.
 

Grant 302

basic and well known psychic
Sometymes it's better to be lucky than good.

You called the action in the right tyme window. Most 'pros' couldn't do it to save their lives.

Looks like it's going to be a nice bump on the open. Expecting a bit of volatility today for monthly options expiry. Have a spread 'bet' for that I bought late yesterday. Should make something if the opening bump lasts at least 6 minutes...
 
Thanks for the input @Grant 302. I have some learning and research to do. I should have done this investing stuff 15-20 yrs ago but I was broke then and now I want to try to get into this investment game.
I don't provide any specific investment advice, mainly because I don't have any, but I can provide some sound financial planning advice. The first place to start is maxing out your 401K if you have one. I'd put it all into an S&P 500 or Total Market Index fund (see my post about Jack Bogle) and once you have some money saved up then you can look at individual stocks. You don't need to do anything complicated. I'm a big believer in the KISS method. :D Key is to max out your 401K and leave it. I don't think you're there yet but make sure you take advantage of the catch up rule once you turn 50. Some companies offer a 401K and 457 or Roth 401K. Max them all out!
 

Grant 302

basic and well known psychic
Rick is 100% right. Stock picking is not for someone just starting. Neither is any sort of market timing.

My only suggestion on top of Rick's is to contribute some portion of it into cash/money market and/or bonds. Appropriate percentages, mixes and ratios depend on your age, and what other funds you start with.

Max everything you can like Rick said. My last employer still had decent matching pre-tax and allowed post tax contributions on top of that. Topped off at the max rates I was allowed. Open a Roth IRA if they don't have post tax available, and contribute the max for your age.

Learning how to make money with markets moving up, down, sideways is tricky at best, and the lessons along the way are expensive.
 

Grant 302

basic and well known psychic
If you're already doing that, and you're talking about using 'discretionary' funds for some individual stock picking, I don't see a problem with that either.
 

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