OT: Stock and Investment Talk

[RU-05]

Since blockchain tech doesn’t need crypto and BTC will never be a global currency, how can BTC reach previous levels? More importantly, the hodlers are out of money.

China has been quietly building a blockchain platform. Here's what we know

Chinese President Xi Jinping has declared that his country needs to "seize the opportunities" presented by blockchain technology.

www.cnbc.com

I was talking a trade somewhere along the lines of buy at $28K sell at $31.

Long term? I'm not buying that China is going to develop a blockchain that makes BTC irrelevant.

Maybe others do, but I'm taking all things China with a grain of salt right now.

 

[T2Kplus20]

I was talking a trade somewhere along the lines of buy at $28K sell at $31.

Long term? I'm not buying that China is going to develop a blockchain that makes BTC irrelevant.

Maybe others do, but I'm taking all things China with a grain of salt right now.

What a great idea, let's all give China control of our money and transactions by using their commie blockchain. What could go wrong? 😁

 

[T2Kplus20]

I was talking a trade somewhere along the lines of buy at $28K sell at $31.

Long term? I'm not buying that China is going to develop a blockchain that makes BTC irrelevant.

Maybe others do, but I'm taking all things China with a grain of salt right now.

BTW, if you think BTC may pop, perhaps you would look for a multiplier to trade? Miner or other crypto stock.

 

[rutgersdave]

I think TSLA is better than BTC

 

[RUAldo]

What a great idea, let's all give China control of our money and transactions by using their commie blockchain. What could go wrong? 😁

I totally agree that China’s BSN is dead in the water from a global perspective. But, if Silicon Valley (or IBM?) isn’t all over this we will fall behind the rest of the world in blockchain tech. The main point though is that blockchain does NOT need cryptocurrency, which is something you won’t hear from hodlers. BTCers pump the blockchain tech as part of the ecosystem but it’s just another false narrative. The tech doesn’t need crypto.

 

[RU-05]

What a great idea, let's all give China control of our money and transactions by using their commie blockchain. What could go wrong? 😁

Ya, we still buy a ton of stuff from China, so I didn't want to say something like "the evermore isolationist Chinese" but I'm doubting that the world is looking to use chinese technology as the financial super highway.

 

[RUAldo]

I think TSLA is better than BTC

I think both are in trouble from an investment stand-point. Watch some of the documentaries on the GME and meme stock phenomenon and those retail traders were plowing money into Tesla for no reason other than they worship Musk. Now they are out of money. One of the biggest issues other than inflation right now is that without stimulus checks there is a lack of money entering the market.

 

[RUAldo]

Ya, we still buy a ton of stuff from China, so I didn't want to say something like "the evermore isolationist Chinese" but I'm doubting that the world is looking to use chinese technology as the financial super highway.

As a Block shareholder (and deep in the red), they better be working on a U.S.-based BSN!

 

[RU-05]

I totally agree that China’s BSN is dead in the water from a global perspective. But, if Silicon Valley (or IBM?) isn’t all over this we will fall behind the rest of the world in blockchain tech. The main point though is that blockchain does NOT need cryptocurrency, which is something you won’t hear from hodlers. BTCers pump the blockchain tech as part of the ecosystem but it’s just another false narrative. The tech doesn’t need crypto.

IBM has been on this for awhile. Are they actually making any headway?

 

[T2Kplus20]

IBM has been on this for awhile. Are they actually making any headway?

IBM? Look for nuclear fusion to happen first. LOL!

 

[RUAldo]

IBM? Look for nuclear fusion to happen first. LOL!

I don’t disagree that IBM blockchain prob ain’t the answer. But it’s easy to see why the whole crytpo/miners nonsense as it relates to blockchain tech could be the next crypto narrative to collapse.

 

[Knight Shift]

+1
Very good interview with the TGT CEO on CNBC this morning. Buy the dip?

 

[rutgersdave]

3600 but it might go lower till they stop increasing interest rate and inflation under control. The pain is going to squeeze people out of the stock market but not T2K.

 

[RU-05]

3600 but it might go lower till they stop lowering interest rate. The pain is going to squeeze people out of the stock market

Let's see if it holds the lows from Thursday. 3860ish I believe.

 

[RUAldo]

3600 but it might go lower till they stop increasing interest rate and inflation under control.. The pain is going to squeeze people out of the stock market but not T2K.

Stop being so emotional…

 

[rutgersdave]

Stop being so emotional…

I’m 85% in cash after selling yesterday waiting for my entrance point. I’m thinking there‘s no quick rebound this time and it might be a couple of years. I said in the past when 2-5 years treasury get to 4%, 30-40% assets will go there. Plenty of people thinking like me.

I’ll still be trading in the mean time.

 

[RUAldo]

I’m 85% in cash after selling yesterday waiting for my entrance point. I’m thinking there‘s no quick rebound this time and it might be a couple of years. I said in the past when 2-5 years treasury get to 4%, 30-40% assets will go there. Plenty of people thinking like me.

I’ll still be trading in the mean time.

Did you take losses when going to cash yesterday?

 

[jtung230]

I’m 85% in cash after selling yesterday waiting for my entrance point. I’m thinking there‘s no quick rebound this time and it might be a couple of years. I said in the past when 2-5 years treasury get to 4%, 30-40% assets will go there. Plenty of people thinking like me.

Wait, your timing the market for 4% tsy yield for 2-5 yr paper?

 

[rutgersdave]

Wait, your timing the market for 4% tsy yield for 2-5 yr paper?

Yes, if it happens great if not I’m trading. Brought some AMZN today after selling it yesterday and some UNH. It’s dangerous out there. Sell on the rebound and buy on the BIG dips.

 

[jtung230]

Yes

Why the short duration? I’m waiting for yield too but looking for much longer duration in the 5,5% and up range.

 

[rutgersdave]

Why the short duration? I’m waiting for yield too but looking for much longer duration in the 5,5% and up range.

I think after 5 years or so, the market might get back to the 8-10% return. I guess some of it, 10-20%, will get the the 10 years if it gets to 5%.

Boy, I might not enjoy it but it’s going to be nice for the younger ones.

 

[jtung230]

I think after 5 years or so, the market might get back to the 8-10% return. I guess some of it, 10-20%, will get the the 10 years if it gets to 5%.

Boy, I might not enjoy it but it’s going to be nice for the younger ones.

Fine line between gambling and investing. Being balance means you can never be wrong.

 

[rutgersdave]

Did you take losses when going to cash yesterday?

No and yes, I was only up to 25% stocks after purchasing them the last few weeks before I realized that the market going lower and sold mainly AMZN, GOOG and AAPL. So I went from 25% stock down to 15% stocks yesterday. I think AMZN and AAPL going further down. AMZN going to trade between $1,900-$2,300.

 

[rutgersdave]

Fine line between gambling and investing. Being balance means you can never be wrong.

I stopped going to the casinos about 3 years ago. I went about a month ago and was playing poker and I caught covid. I recovered but I might have long covid, body aches and little energy like I aged 5-10 years.

 

[RUDead]

Remember when freight, trucking and logistics data provider Freightwaves warned at the last day of April that a freight recession was imminent and was set to cripple the trucking sector and broader economy (prompted Jim Cramer to declare that "Mr Freightwaves" knows nothing). Well, as always, Cramer was wrong and Freightwaves was right, and today we are seeing nothing short of bloodbath in the trucking and logistics space, where stocks have plunged the most in over six weeks amid weak outlook from several retailers, including Target, which just like Walmart plunged the most since 1987 as inflation crippled its profit margins, and as it warned that fuel and freight costs soared in the first quarter.

ZeroHedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

www.zerohedge.com

Thoughts?

 

[T2Kplus20]

3600 but it might go lower till they stop increasing interest rate and inflation under control. The pain is going to squeeze people out of the stock market but not T2K.

Good timing! Just completed an across the board buy for our E-Trade account. Bought all 8 ETFs, extra money going to growth and tech.

These are the days you make money in the long run!

 

[rutgersdave]

Good timing! Just completed an across the board buy for our E-Trade account. Bought all 8 ETFs, extra money going to growth and tech.

These are the days you make money in the long run!

You have the time

 

[T2Kplus20]

I’m 85% in cash.

Sissy! You never learned from 2020.

 

[T2Kplus20]

You have the time

Our final CD matures in early June (the other 2 matured early in the year)! Don't need more cash at this time, so I may have some bonus ammo to play with. This one is the biggest of them all.

 

[RUBlackout]

I totally agree that China’s BSN is dead in the water from a global perspective. But, if Silicon Valley (or IBM?) isn’t all over this we will fall behind the rest of the world in blockchain tech. The main point though is that blockchain does NOT need cryptocurrency, which is something you won’t hear from hodlers. BTCers pump the blockchain tech as part of the ecosystem but it’s just another false narrative. The tech doesn’t need crypto.

I would love to hear your explanation on why you don’t think blockchain doesn’t need coins/tokens.

this should be interesting and I bet you can’t explain it

 

[jtung230]

I smell dead money. Question is, what’s the alternative?

 

[T2Kplus20]

I smell dead money. Question is, what’s the alternative?

I smell chicken littles and fear. :)

 

[RUAldo]

I would love to hear your explanation on why you don’t think blockchain doesn’t need coins/tokens.

this should be interesting and I bet you can’t explain it

Read the article - what does mining a BTC ultimately have to do with the blockchain? Non-crypto blockchains are the future especially in cloud environments without the risky and volatile nature of digital currencies.

 

[jtung230]

I smell chicken littles and fear. :)

Unfortunately, I didn’t sell (didn’t want to pay taxes) and worst, no shorts. I am trying to find opportunities. I think fixed income will be the better place in the near term. Stock market will trade sideways for the foreseeable future.

 

[BIGRUBIGDBIGredmachine]

I’m 85% in cash after selling yesterday waiting for my entrance point. I’m thinking there‘s no quick rebound this time and it might be a couple of years. I said in the past when 2-5 years treasury get to 4%, 30-40% assets will go there. Plenty of people thinking like me.

I’ll still be trading in the mean time.

Blue horseshoedave does it again!!!!

 

[T2Kplus20]

Unfortunately, I didn’t sell (didn’t want to pay taxes) and worst, no shorts. I am trying to find opportunities. I think fixed income will be the better place in the near term. Stock market will trade sideways for the foreseeable future.

Selling and paying taxes blows. It's not complicated, if you don't need the money for at least a few years, you should be seriously buying during such downturns. You will make huge returns.

I can't help you with trading opportunities, but for the longer term, simple indexes or even leverages ones are attractive. Lots of folks are high on healthcare during such times (which is definitely an index play). For stocks, I don't think you need to look too far past the big boys. They are going nowhere.

 

[rutgersdave]

I was talking a trade somewhere along the lines of buy at $28K sell at $31.

Long term? I'm not buying that China is going to develop a blockchain that makes BTC irrelevant.

Maybe others do, but I'm taking all things China with a grain of salt right now.

‘Crashes are the best times to get rich’ — here’s why Robert Kiyosaki thinks bitcoin’s plunge is great news and how you can take advantage of it

‘Rich Dad Poor Dad’ is looking to back up the truck.

www.yahoo.com

Bitcoin is on a wild ride.

The world’s largest cryptocurrency soared to $68,990 last November. Now, it’s at around $29,000 — a staggering 58% pullback from the peak.

If the downtrend continues, Rich Dad Poor Dad author Robert Kiyosaki says he’s ready to start buying.

“BITCOIN CRASHING. Great news,” he tweeted last week. “I am waiting for Bitcoin to crash to 20k. Will then wait for test of bottom which might be $17k. Once I know bottom is in I back up the truck. Crashes are the best times to get rich.”

 

[T2Kplus20]

Crashes are the best times to get rich.”

Amen! :)

 

[Rutgers Chris]

Does this mean that WSB wins? Or are they all broke and it’s a tie?

 

[RUAldo]

Does this mean that WSB wins? Or are they all broke and it’s a tie?

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I bet more hedge funds follow suit. Not good for the overall market.