August 7, 20241 yr VIX continuing to get taken to the woodshed and dollar is gaining vs yen. Entire market is green and back to smoking meth. The printing continues for now.
August 7, 20241 yr @Kz! Still nothing to add here? I'm old enough to remember 2 days ago when Kamala caused complete societal collapse.
August 7, 20241 yr https://www.reuters.com/markets/asia/boj-wont-raise-rates-when-markets-unstable-deputy-governor-says-2024-08-07/#:~:text=HAKODATE%2C Japan%2C Aug 7 (,term hike in borrowing costs. Quote HAKODATE, Japan, Aug 7 (Reuters) - The Bank of Japan's influential deputy governor said on Wednesday the central bank will not hike interest rates when markets are unstable, playing down the chance of a near-term hike in borrowing costs. The remarks by Shinichi Uchida, which contrasted with Governor Kazuo Ueda's hawkish comments made last week when the BOJ unexpectedly raised interest rates, boosted Japan's Nikkei share average and sent the yen sharply lower.
August 7, 20241 yr Just now, Paul852 said: Can we still thank Harris for our 401ks? Thank the BOJ for backing down almost immediately.
August 7, 20241 yr 1 minute ago, vikas83 said: Thank the BOJ for backing down almost immediately. Ohhhhhhh. the Bank of Joe?
August 7, 20241 yr 4 minutes ago, mayanh8 said: VIX with a relatively strong move to the upside on the day... I've been in workshops all day, so other than stirring the pot in the campaign thread (which, lets face it, doesn't take any real effort), I haven't been reading up much. What caused the drop into the red?
August 7, 20241 yr 1 minute ago, paco said: I've been in workshops all day, so other than stirring the pot in the campaign thread (which, lets face it, doesn't take any real effort), I haven't been reading up much. What caused the drop into the red? It's August, so you don't really need a reason. But a very weak 10 year auction accelerated the drop.
August 7, 20241 yr 17 minutes ago, paco said: I've been in workshops all day, so other than stirring the pot in the campaign thread (which, lets face it, doesn't take any real effort), I haven't been reading up much. What caused the drop into the red? We're not done the yen unwind. Think about the dynamic at play here... Japan has basically trapped institutions and hedge funds around the world in a variable rate loan and they just went positive on their interest rates. And while BOJ saying they won't raise rates further during turbulent trading times, they're basically saying they will be raising them again at some point, just not right now. I think these past couple of green days are the typical relief/dead cat bounce you see. There are turbulent days ahead. And while everyone on CNBC is telling you that incoming fed interest rate cuts are going to be so great, institutions and smart investors know that they ALWAYS precede a market pullback. There are bearish signs everywhere. Maybe tomorrow we see another day like Monday. Or maybe we don't see it for a few weeks or months. But the toll of free trillions lent to global markets looks to be coming due.
August 7, 20241 yr And just to be clear, I'm very much in the market. These days of big swings in either direction are when we can make the most money.
August 7, 20241 yr 1 minute ago, mayanh8 said: And just to be clear, I'm very much in the market. These days of big swings in either direction are when we can make the most money. To borrow a Bogle quote, that might contradict (but I'd say complement) my Buffet quote from earlier: Time in the market beats trying to time the market. I might turn a few dials and rebalance 10-15% of my portfolio, but the vast majority of it stays in index funds which I don't touch. If I see value in something that I think the market has overreacted to, then I might sell something safer to take on something riskier, but I know I'm too stupid to make a serious amount of money by day trading.
August 7, 20241 yr 2 minutes ago, we_gotta_believe said: To borrow a Bogle quote, that might contradict (but I'd say complement) my Buffet quote from earlier: Time in the market beats trying to time the market. I might turn a few dials and rebalance 10-15% of my portfolio, but the vast majority of it stays in index funds which I don't touch. If I see value in something that I think the market has overreacted to, then I might sell something safer to take on something riskier, but I know I'm too stupid to make a serious amount of money by day trading. I'd love to say I'm a successful day trader but I just can't. Most days I'm getting stopped out because I hate myself and hate money. But it scratches my gambling itch.
August 7, 20241 yr 15 minutes ago, mayanh8 said: And just to be clear, I'm very much in the market. These days of big swings in either direction are when we can make the most money. I'm not. Not because of any pessimism. I have a toddler and adoption debt, so my days of buying into dips are over. Auto contributions and rebalancing is my foreseeable future
August 7, 20241 yr 6 minutes ago, mayanh8 said: I'd love to say I'm a successful day trader but I just can't. Most days I'm getting stopped out because I hate myself and hate money. But it scratches my gambling itch. That's more or less where I'm at, but with some money I've sandboxed away from my main brokerage and retirement accounts. There have been times where I've done well on certain trades in retrospect, but some of it is always negated by the bad ones, and I also remind myself that relying on luck is a poor long-term strategy.
August 7, 20241 yr I dislike this guy more than I dislike most things but what you want to pay attention here is that the forever permabull shill is trying to lay blame for what he knows is eventually coming. Then again the accuracy of the inverse Cramer is as immutable as gravity itself so maybe it means another five years of printing.
August 7, 20241 yr 13 minutes ago, we_gotta_believe said: That's more or less where I'm at, but with some money I've sandboxed away from my main brokerage and retirement accounts. There have been times where I've done well on certain trades in retrospect, but some of it is always negated by the bad ones, and I also remind myself that relying on luck is a poor long-term strategy. The value in day trading for me has been the personal education and understanding of how complex the markets are. It's been a never ending rabbit hole of information and the more I learn the more cynical I get.
August 7, 20241 yr 54 minutes ago, mayanh8 said: Little power hour pump here. We going to end green or what, chat? Nope, down −234.18 It's been a rough 5 days.
August 7, 20241 yr 1 hour ago, mayanh8 said: Little power hour pump here. We going to end green or what, chat? Honestly I've had enough of this. I'm looking into this new thing called "block chains"
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