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The market was up 500 points yesterday. I know that there are reasons, but as someone who has never followed the market much I still find a 500 point rise in the middle of mass protests, some rioting and an unabated Pandemic to be rather incredible.

Many citizens are looking at the bleakest economic prospects since the Great Depression. Professional Sports, Travel and Tourism, Conventions...all face bleak futures, at least for the next year. People working less, spending less, and a massive increase in the federal deficit, Hong Kong disintegrating...and yet the market blissfully goes up.

I don't get it.

Well, I get what you're saying but its hard to complain when your portfolio keeps gleaming on a daily basis.

I think the market has learned to be numb to the insanity that is Trump.

I took full advantage of the drop back in March and invested in crude related etfs, the airlines, the cruise lines, solar, and my latest favorite is GNUS which I got into just before the fire sale. It was up 40%+ yesterday and a whopping 97% today.

MeDotOrg wrote: ↑

Wed Jun 03, 2020 11:05 pm

...

I don't get it.

finally some honesty outta your guy's camp.

subgenius wrote: ↑

Thu Jun 04, 2020 1:13 am

MeDotOrg wrote: ↑

Wed Jun 03, 2020 11:05 pm

...

I don't get it.

finally some honesty outta your guy's camp.

Honestly I don't get it. The statement 'I don't get it.' is not rhetorical. It's not that I disagree with the reason, I don't understand what the reason is.

If you "get it", please let me know.

I've been urging my kids to invest in an S&P 500 index fund since it his 20,000. I just think a lot of savvy investors realized the market had deflated enough to make it a good time to get in. I suspect there's a lot of foreign investment from, well, all over. I wouldn't doubt a lot of that is coming from China right now, they seem to have a LOT of people with a LOT of money looking for long-term investment strategies where they can park their money. Kevin Graham also provided a good snapshot into the mind of the 'average' investor who pays attention to the market.

One other thing, and I don't know how accurate I'm being, but a LOT of millenial and zoomers are using aps like acorn and others like it to use microtransctions as an investment strategy. This has REALLY taken off this year. Both my girls were telling me how they've managed to grow hundreds of dollars through these aps, and they're getting excited about investing.

- Doc

Doctor CamNC4Me wrote: ↑

Fri Jun 05, 2020 2:46 am

I've been urging my kids to invest in an S&P 500 index fund since it his 20,000. I just think a lot of savvy investors realized the market had deflated enough to make it a good time to get in. I suspect there's a lot of foreign investment from, well, all over. I wouldn't doubt a lot of that is coming from China right now, they seem to have a LOT of people with a LOT of money looking for long-term investment strategies where they can park their money. Kevin Graham also provided a good snapshot into the mind of the 'average' investor who pays attention to the market.

One other thing, and I don't know how accurate I'm being, but a LOT of millenial and zoomers are using aps like acorn and others like it to use microtransctions as an investment strategy. This has REALLY taken off this year. Both my girls were telling me how they've managed to grow hundreds of dollars through these aps, and they're getting excited about investing.

- Doc

Thanks, Doc. If I remember correctly, there was a lot of foreign capital looking for safe haven that bought the collateralized debt obligations of the early 2000's. I guess what I don't understand would be how current economic picture would make the U.S. look like a safe haven. It's not that I wouldn't bet against the U.S. economy bouncing back, but in how long and in what form? How will the virus impact the health care system and what will that cost? What will the deficit mean?

Take Travel & Tourism, for example, the raison d'être of Las Vegas. Sure the potential for the industry to back is there, but how long will it take? Would you recommend going on a cruise ship in the next year? What happens to big ticket items like autos when people are digging out of massive debt? How many restaurants will fold in the next 6 months? Restaurants, Travel & Tourism are highly labor intensive industries. What happens to the support staff during the next weeks and months? There are just so many variables for the economy...

Icarus wrote: ↑

Thu Jun 04, 2020 1:45 am

This perfectly captures how I've felt since 2016, and is a big reason why it's practically impossible to take the concerns of right wingers seriously.

Well I made over $8k today while day-trading. Not bad for a communist.