1995CobraR
Three time Champion
..But based on what you’ve said, I’m not selling what I have.
Good plan
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..But based on what you’ve said, I’m not selling what I have.
...I think the long term prospects of the tech sector over the next ten years will rival the past ten years.
The crash that followed saw the Nasdaq index, which had risen five-fold between 1995 and 2000, tumble from a peak of 5,048.62 on March 10, 2000, to 1,139.90 on Oct 4, 2002, a 76.81% fall. By the end of 2001, most dotcom stocks had gone bust.
Yes, except it’s nothing like that. Maybe with the exception of FB.I am not so sure about that? I think the FANG stocks are priced for perfection of growing earnings.
It reminds me of the 2000 Dot.com bubble with it's much too optimistic earnings.
If earnings disappoint, most investorscanwill panic which will drop the value of the stock, any mutual fund, and index fund.
So, I say slow down and study the financial statements. The stock market may value a high P/E stock today, but one earnings miss will send it down quickly.
I am neutral here. I say still income average into stocks, but the recent +35% increase is optimistic when trading stocks..
It was more like people playing the Lottery...with their disposable income and/or 401k funds. Huge financial house of cards.
...
Still solid movement to kickoff the week. Closing near the high of the day.
Yeah, that’s like some of the stories I heard about. Also how I knew it wouldn’t end well. Lots of stories floated around while there was money being made. Didn’t hear so much about them after the bubble burst. And it was clear people went into debt for it...via credit cards and margin accounts.Now that you mention it I now recall borrowing $2k on a credit card, turning it into $16k inside of six months, then selling everything after concluding it was too easy to make money that way and it wasn't going to last.
Cashing short term puts for short terms calls played nicely for the close of the week. Funded more straddle/strangle spreads for next week. Hoping for some craziness and the opportunity to make money on both sides.
I took the opportunity yesterday to buy a couple new to me stocks on the weakness.
DFS Discover Financial Services @ $49.90 == Closed today at 52.99
DIN Dine Brands Global, Inc @ $45.62 == Closed today at $49.28
Back into CLR Continental Resources, Inc @ $15.75 == Closed today at $16.61