Sanrith Descartes
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Investing General Discussion
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Guest, it's time once again for the massively important and exciting FoH Asshat Tournament!
Go here and give us your nominations!Who's been the biggest Asshat in the last year? Give us your worst ones!
Sanrith Descartes
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There was a decent recovery after 3:51pm. Interesting note that Nasdac finished down 0.18% but QQQ finished down -0.40% an FTEC finished down 0.60%. That was a pretty big divergence between Nasdaq and those bigger cap ETFs. IT looks like PYPL was the big culprit in helping the difference. PYPL down almost 5% today.
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Sanrith Descartes
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Closed out my T covered calls again. Banged about 70% profit on this flip.
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Gravel
Mr. Poopybutthole
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So is this more bipolar market thinking the Fed is raising rates again, or consolidation (probably not, since it keeps skidding down)?
If it's the rates issue, I really do wonder how bad this gets. Consumer spending is high, but it seems entirely based off massive amounts of credit. It's not real spending. If they do keep basing decisions off it, I imagine a year down the road our recovery is going to be stunted because that consumer debt now has to be paid back.
If it's the rates issue, I really do wonder how bad this gets. Consumer spending is high, but it seems entirely based off massive amounts of credit. It's not real spending. If they do keep basing decisions off it, I imagine a year down the road our recovery is going to be stunted because that consumer debt now has to be paid back.
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Sanrith Descartes
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Sanrith Descartes
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Jysin
Ahn'Qiraj Raider
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META (Facebook) being hit pretty hard today on the back of the news that the EU ruling they cant target ads based on user data without user consent. That is really going to hit the bottom line. The way data protection laws have been moving, on top of Apple trying to wall off user data from 3rd party apps, this is going to destroy any companies that rely heavily on ad based revenues.
11:59 [META] Reportedly cannot run advertising based on personal data, will need users' consent; final decision by Irish privacy body on Meta likely to include large fines - press - Source TradeTheNews.com
11:59 [META] Reportedly cannot run advertising based on personal data, will need users' consent; final decision by Irish privacy body on Meta likely to include large fines - press - Source TradeTheNews.com
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Mist
REEEEeyore
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Fucking good. Why we don't have that in the US I'll never understand.
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Arden
Blackwing Lair Raider
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Mist
REEEEeyore
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Mist
REEEEeyore
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Facebook should be able to advertise to you based on what they know about you. But they shouldn't be able to sell or otherwise provide that data to anyone else without your explicit, informed consent.
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Sanrith Descartes
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Im waiting for one of the big tech companies to do the math and say fuck you, its not worth offering our peoduct in your shitty country. We are leaving. And oh btw, on our way out here is the all degenerate and illegal shit your politicians discussed on whatsapp and messenger.
Mist
REEEEeyore
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Facebook's business model should be outlawed. Same with anyone else offering 'free' services where the person using them is the product.
*****
For anyone interested, what I've been doing lately is playing natural gas for swing trading. BOIL and KOLD that is. I got into boil a few months back at 55 for a small amount. I thought it was ok there since it was at 100 just before that. Unluckily, It went down to 33 from there, but I did a few more buys to get my cost/share to 41.XX. Then just a bit ago boil went up to 59. I missed that peak cause I was dumb but sold at 46 or so for some profit and then bought KOLD that same day. Now in the last week and change KOLD is up (NG price down) 60%. Wish I'd bought more
It looks like we're getting close to a floor on NG price again so I'm likely going to sell KOLD and then put it back into BOIL and see if I can ride another up cycle.
I'm fully willing to admit I'm just getting lucky here and this is pretty risky since the swings all seem to happen after hours and not during the day, and it often moves 7-10+%/day since these are x3 leveraged etf's.
So far so good though.
*****
For anyone interested, what I've been doing lately is playing natural gas for swing trading. BOIL and KOLD that is. I got into boil a few months back at 55 for a small amount. I thought it was ok there since it was at 100 just before that. Unluckily, It went down to 33 from there, but I did a few more buys to get my cost/share to 41.XX. Then just a bit ago boil went up to 59. I missed that peak cause I was dumb but sold at 46 or so for some profit and then bought KOLD that same day. Now in the last week and change KOLD is up (NG price down) 60%. Wish I'd bought more
It looks like we're getting close to a floor on NG price again so I'm likely going to sell KOLD and then put it back into BOIL and see if I can ride another up cycle.
I'm fully willing to admit I'm just getting lucky here and this is pretty risky since the swings all seem to happen after hours and not during the day, and it often moves 7-10+%/day since these are x3 leveraged etf's.
So far so good though.
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Sanrith Descartes
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This type of market action can be profitable with short duration trading. Its just takes due diligence and not being too greedy. Take what the market gives. I believe every single rally will be sold off until buyers finally punish the sellers. This current market state can go on for another year or two and it wouldn't surprise me.Facebook's business model should be outlawed. Same with anyone else offering 'free' services where the person using them is the product.
*****
For anyone interested, what I've been doing lately is playing natural gas for swing trading. BOIL and KOLD that is. I got into boil a few months back at 55 for a small amount. I thought it was ok there since it was at 100 just before that. Unluckily, It went down to 33 from there, but I did a few more buys to get my cost/share to 41.XX. Then just a bit ago boil went up to 59. I missed that peak cause I was dumb but sold at 46 or so for some profit and then bought KOLD that same day. Now in the last week and change KOLD is up (NG price down) 60%. Wish I'd bought more
It looks like we're getting close to a floor on NG price again so I'm likely going to sell KOLD and then put it back into BOIL and see if I can ride another up cycle.
I'm fully willing to admit I'm just getting lucky here and this is pretty risky since the swings all seem to happen after hours and not during the day, and it often moves 7-10+%/day since these are x3 leveraged etf's.
So far so good though.
Way out of the money short dated (1 month or less) options is another revenue stream in this market.
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