DOW 23,000+ today?

[Fat Boss]

I sold a lot of my oil stocks today. I think they're getting ahead of themselves a bit. They were in the +20% to +70% range from when I bought them.

 

[Grant 302]

Always a good thing to take profits, but I think there are a lot of oil related tickers that are still to recover long term.

 

[Tonymustang302]

Sorrento, a bio tech in San Diego, also announced some promising results with their trial drug and their stock is up 30% today.

I’m feeling pretty confident that today is the beginning of the end of this virus BS.

And I did something I said I’d never do, I bought some shares of Tesla.

you think elons gonna move the factory to texas?

 

[Fat Boss]

Always a good thing to take profits, but I think there are a lot of oil related tickers that are still to recover long term.

I agree. But, I think I can buy back in next week or the week after and increase my gains. CLR was my largest of the oil positions, and it's down over 7% today, at the moment. https://finance.yahoo.com/quote/CLR/

you think elons gonna move the factory to texas?

I work across the freeway from the Tesla factory in Fremont. That is a nice factory, and he got a helluva deal on it. But, the location is horrible. There's no room to expand and the roads around the factory are constantly jammed with trucks either dropping off components, or picking up cars. There's also a yuge apartment complex going up next door with thousands of units that is just going to make the traffic worse.

I'd move it to Texas.

 

[TymeSlayer]

My Fremont office is just down the road from the big Tesla plant, off of Enterprise and S. Grimmer Blvd. The traffic is bad everywhere in the area but I use to only visit once a quarter so I dealt with it. No travel now so no problem. It should hurt California in not just tax revenue but green pride should Tesla up and move.

I work across the freeway from the Tesla factory in Fremont. That is a nice factory, and he got a helluva deal on it. But, the location is horrible. There's no room to expand and the roads around the factory are constantly jammed with trucks either dropping off components, or picking up cars. There's also a yuge apartment complex going up next door with thousands of units that is just going to make the traffic worse.

I'd move it to Texas.

 

[Grant 302]

‘Key’ levels of resistance cracked today in major indices at 25k and 3k. Nice to see the consolidation end, IMO.

 

[Bill Pemberton]

Always interesting to drop in here, as I am not ashamed to say , having been out of the business for 26 plus years there are folks way more attuned to the changes in Market Fundamentals and segment choices. For me, what has been an interesting challenge has been the switch from years of Institutional purchase to the unique dynamics of the individual investors of today. I am often amazed at the constant drama with Worldwide Events and how some affect the market ,whereas others seem to be completely avoided when common sense indicates there should be a corresponding reaction. Makes for a more interesting and dynamic Market , but it sure takes alot more focus, time, and yes knowledge than in years past. I do appreciate soaking up some knowledge that many impart ( Grant for one ) , as I know , just lke the Tech Sections, Build Threads, etc. this Forum has alot of folks willing to share and they are seldom judgmental. Makes for a fun place to visit and feel comfortable, because change and learning is a continual process and those that don't embrace it, in my humble opinion, are missing one of the great joys of life.

For me, right now , I am baffled at an increasingly upward Market with unemployment , strife, Pandemic ,etc. but it is interesting to analyze as best as possible to see where I ( or you ) want to be placed in the months and years to come? Comfortable with my choices at present ,but sure looking forward to figuring out new concepts and I know I will be able to soak up a little brain matter here ---yes, I know many will say I need a bit more brain matter anyway, ha.

 

[Bill Pemberton]

What do some of you guys scope out Daily ---- Fox , CNN, CBS MarketWatch , etc. I am too cheap to pay for Bloomberg ,so wondering if any of you have preferences or if you feel you can get a solid grasp with a couple? When at work , I admit, I primarily linked into CBS Marketwatch , but I felt I did not have time to take away from my main focus checking out a bunch of Market sites. I would be interested to hear some of your preferences and why -- thanks!

 

[VoodooBoss]

The main reason why the market has moved back up so quickly is the unprecedented stimulus from the Federal Reserve Bank and Federal Government. The world has never seen stimulus of this magnitude before. As the famous investor Marty Zweig once said: "Dont fight the Fed"

I subscribe to the WSJ and watch CNBC on a regular basis, especially lately. During my professional career I used and read info from Bloomberg and Factset. I also received daily updates from the top institutional investors globally and we subscribed to several economist. My favorites economist are Ed Yardeni and Donald Luskin. I sure miss some of the daily updates I received. A few of my favorite investment firms are JP Morgan (Investment Banking), Pzena Investment Management (a deep value investor), AQR (Hedge fund and asset allocation) and Arrowstreet Capital (quant stock allocation and selection). All of the people/firms I mentioned have free content on their websites. I'm also a fan of Cramer on CNBC.

 

[Bill Pemberton]

Much appreciated VoodooBoss, that gives me some fun new areas to explore. I follow you on the economic stimulus I just tried to balance with the Pandemic , constant China ping pong game, oil plunging , and it surprised me we still are climbing , though slowly. I sure agree with the " Don't fight the Fed statement, ha!" Many thanks for taking the time to post your thoughts.

 

[JDee]

I read Fed stimulus is $2.3 trillion? Up here it's $710 billion, so far and that doesn't count the provinces spend fest. Roughly 1/3 of US spending, with about 1/10th of the population to pay for it and a GDP that's also only about 8.4% of the US GDP. Math was never my strong suit, but doesn't that seem a bit off the wall?
Up here the governments are all pretty sure the money is waiting to picked off a tree somewhere, even our "conservative" government in Ontario.

 

[TymeSlayer]

Somebody's gotta pay for all this stimulus and I fear it will be you and I. When that happens, we'll all be spending less and the market will correct. They only ones who cash in on this all get the timing right and we all know that's a crap shoot unless you got inside information and that's illegal, or so they say. I've always moved from stocks to cash and back on guts alone but never enough of a profound movement as to open myself us to calamitous risk. I stay in my comfort range and tend to ignore all the free or paid get-rich advise out there. If I did take advise from most of what's been offered to me, I would be trying to catch Pemberton at MPH in a pair of stolen roller skates.

I do get most of my information from CNBC but advise, not so much.

 

[Bill Pemberton]

In a similar box as you Tyme, when it comes to the reality that the Stimulus is just that , and those quick fixes have always been short term remedies. That said there are some knowledgeable guys on here , so nice to hear some of the areas they prefer for their data. At my age I don't plan on getting mega aggressive, but since I will soon be rolling over my 401K , I plan on taking a much more active part than while I was working. I did keep a pretty good eye on things ,but like so many companies, my choices were limited and I will soon be able to have a plethora of new investment vehicles to move into so time to get a bit more serious.

Appreciate the comments and thoughts so far!

 

[TymeSlayer]

Now if you're really looking for a wise investment, there's always the TymeSlayer Racing and Vodka fund that's not certain to grow your assets but it will mine.

 

[Bill Pemberton]

Heh, I need some conservative investments and helping out with Tymeslayer Racing has already benefitted me from lugging around the track, ha. The Vodka might help me gain a rise in my spirits! Sound advice , I think I am in!

 

[Ludachris]

The main reason why the market has moved back up so quickly is the unprecedented stimulus from the Federal Reserve Bank and Federal Government. The world has never seen stimulus of this magnitude before. As the famous investor Marty Zweig once said: "Dont fight the Fed"

I subscribe to the WSJ and watch CNBC on a regular basis, especially lately. During my professional career I used and read info from Bloomberg and Factset. I also received daily updates from the top institutional investors globally and we subscribed to several economist. My favorites economist are Ed Yardeni and Donald Luskin. I sure miss some of the daily updates I received. A few of my favorite investment firms are JP Morgan (Investment Banking), Pzena Investment Management (a deep value investor), AQR (Hedge fund and asset allocation) and Arrowstreet Capital (quant stock allocation and selection). All of the people/firms I mentioned have free content on their websites. I'm also a fan of Cramer on CNBC.

It's amazing that the market doesn't seem too concerned with the (already) astronomical national debt this stimulus is going to be adding to - and really hasn't for the last several years. I'm guessing that since the rest of the world is pretty much in the same boat, it must all be relative right now? I had been reading some things before all this started that talked about how many of the recession predictions were because of the market continuing to be held up by so much debt. I'm no investor, but that seems like something to worry about. Debt isn't necessarily bad, but when there is so much of it... just seems like a ticking time bomb. I realize that it's a risk we probably needed to take, but damn. Maybe someone can enlighten me a little on that.

 

[302BOB]

Maybe someone can enlighten me

As long as that printing press is working in the basement......we may get by for a while longer.....................before this bites us you know where........................

 

[Fat Boss]

I had bought back into CLR on Friday at $12.65/share. Today, it was too tempting to sell at $14.25- so I sold. I'll probably buy back in later this week.

 

[VoodooBoss]

It's amazing that the market doesn't seem too concerned with the (already) astronomical national debt this stimulus is going to be adding to - and really hasn't for the last several years. I'm guessing that since the rest of the world is pretty much in the same boat, it must all be relative right now? I had been reading some things before all this started that talked about how many of the recession predictions were because of the market continuing to be held up by so much debt. I'm no investor, but that seems like something to worry about. Debt isn't necessarily bad, but when there is so much of it... just seems like a ticking time bomb. I realize that it's a risk we probably needed to take, but damn. Maybe someone can enlighten me a little on that.

The market pricing is based on one year expected returns and doesn't take the national debt into the expectations. The national debt will be paid by taxes on individuals and corps which will at some point either mean higher taxes, inflation or both. It's easier to pay off debt, any debt, with inflated dollars. Ten plus years after the financial crisis we never saw any serious inflation but I expect ten years from now we will.

@JDee the economic stimulus packages are over $5T so far. $2T+ more are on the table. That's not including what the federal reserve bank is doing with the current quantitative easing.

 

[Bill Pemberton]

I remember years back when a noted World Economist noted that debt load, to a degree , would not have nearly the effect common sense would note, if the major players in the World all carried similar negative values in their ledger. Makes one wonder with the load upon load many major Nations are building ?