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Stock Market Tanking again today

It’s time to reevaluate things guys.

I’m selling stuff today and parking it in cash. This downturn does not seem transitory.

My condolences on your 401k. Mine is 100% invested in real estate thru a self directed IRA. But if you have a professionally managed 401k thru your job, you are cooked.

https://finance.yahoo.com/news/dow-tanks-trump-wont-rule-121500588.html

10 comments

10 Comments

Onikoroshi

Mar 11

Musk just announced Tesla will be doubling output in the next two years and next he will launch a self driving car with no steering wheel or pedals.

Daystalker

Mar 11

Replying to

No one wants a Tesla that doesn't already have one, and the ones that have one yearn for something else that allows them freedom to drive without being made fun of. They are the VW Bug of the new ages. Question for all you Tesla drivers, I keep hearing about "Tesla Rape", is that a thing? I guess it is because of the collision avoidance in the car you can just pinch in front of it and it will slow down to avoid the collision and let you in? Is that a real feature that is on all the time, or does it have to be set? The reason why i ask is because I want to try it next time I merge onto 405 from the 101 and just want to wait till the last second and force my way in front of some pansy, and it would be awesome if that works so I know who to target. Let me know.

RWC

Mar 10

Remember I mentioned a couple weeks ago it was starting to look like a bear decline. S&P 500 kept failing to hold at the 6100 level and I thought gains beyond that would be difficult.

Reduced my equity exposure to the lowest percentage in years, so if I’m wrong I’ll miss out on gains, but if right I can avoid some big losses and be ready when a buying opportunity opens up down the road.

If it were only that easy right? LOL.

BigBallss

Mar 10

Replying to

Smart move. This is a time for caution.

TEE

Mar 10

SP 500 down 4.5 %. YTD. That’s cooked? After being up 25% last year

Even a 20% correction is no big deal.

Now a 45% correction like 2008 is “ cooked”.

BigBallss

Mar 10

Replying to

Tee by definition a 20% drop is considered a crash. This sell off is far from over, Trump mentioning a recession yesterday is causing some anxiety and raising red flags. We are in the process of being cooked. Or maybe I’m being overly pessimistic.

TEE

Mar 11

Replying to

You could be right. Some stocks are already cooked. PLTR down 40%. NvIda down 30%. TSLA down 55%. TSLA could drop 75%. People won’t buy Teslas. Trying to sell what the own.

Java

Mar 11

Replying to

IMO this is a good time to prepare to buy.

The air has been squeezed out. The market has responded to tariffs. To inflection. To job numbers. To potential recession and th volatility.

Tqqq has touched $90 or close and is now at $58. Probably cost me a couple million right there.

I’m sitting on a million in cash and I have a put at $56. Not sure I want to buy it out and bet on $52 next week. That’s a good way to miss opportunity.

I may keep my $56 put and if it drifts further down so be it. Tariffs won’t last forever. Trumps tantrum won’t either. At some point he will call it all off. Declare victory and the market will rebound. Back to highs? Maybe not. But if Nasdaq pops up 10% in the aftermath that’s 30% for me with tqqq and it would still only be at $76.

If I jump in with the full million and the Nasdaq pops back up 10% in the next year or two? That’s $300,000 with that stock.

I am ruminating heavily here. Right now the put is only for 4,000 shares. $224,000. Tempted to sell more puts and push the remaining $750,000 onto the table.

I didn’t want to buy for years because everything was overpriced. Now it’s on sale. Time for me to go shopping. My interests are Amazon apple tqqq Google Microsoft and Amgen but the latter hasn’t fallen much

Brad Stevens

Mar 10

Brad Stevens

Mar 11

Replying to

Looks like another tough day, BB.

GIF was referring to the tortoise and hare analogy and previous GIF from last summer. Of course I don’t want you or anyone to lose money. I trust you are prepared for all possibilities. Guessing you’ll walk away ahead regardless if it gets worse……. Still love this GIF. Might be one of my favs.