Sorry all, this is going up late. I don't have the time to make it as informative as Cy's threads - he's a far better staff than I am. Hope everyone had a great weekend and enjoyed the super bowl! 5 things to know before the stock market opens Monday 1. Wall Street set to rise after best week since November Traders on the floor of the New York Stock Exchange Source: The New York Stock Exchange Dow futures pointed to about a 150-point gain at Monday’s open, an advance that would exceed the 30-stock average’s closing record and its intraday all-time high, both of which happened last month. The S&P 500 and Nasdaq on Friday closed at record highs, while the Dow’s gain was about 40 points shy of a closing record as a disappointing January jobs report boosted hopes for further economic stimulus to help Americans and U.S. businesses during the pandemic. All three stock benchmarks logged their best weeks since November. The Reddit-fueled trading frenzy around short-squeeze names receded as shares of GameStop lost 70% last week, even with Friday’s 19% gain. The previous week, the video game retailer’s stock soared 400%. Shares rose 12% in Monday’s premarket trading. 2. Tesla invests $1.5 billion in bitcoin, which soars to all-time high Elon Musk, founder of SpaceX and chief executive officer of Tesla Inc., arrives at the Axel Springer Award ceremony in Berlin, Germany, on Tuesday, Dec. 1, 2020. Liesa Johannssen-Koppitz | Bloomberg | Getty Images Tesla, in an SEC filing, said the electric auto maker has purchased $1.5 billion worth of bitcoin after changing its investment policy last month. Bitcoin soared over $43,000 in an all-time high Monday. The Tesla filing also said, “We expect to begin accepting bitcoin as a form of payment for our products in the near future, subject to applicable laws and initially on a limited basis, which we may or may not liquidate upon receipt.” Tesla CEO Elon Musk has been talking up bitcoin and dogecoin, another cryptocurrency, in recent tweets. Shares of Tesla rose in Monday’s premarket trading. 3. Yellen says Biden stimulus could result in full employment next year Janet Yellen, U.S. Treasury secretary, speaks during a meeting with U.S. President Joe Biden, not pictured, in the Oval Office of the White House in Washington, D.C., U.S., on Friday, Jan. 29, 2021. Shawn Thew | Bloomberg | Getty Images The U.S. economy could return to full employment in 2022 if President Joe Biden’s $1.9 trillion coronavirus rescue package were passed, Treasury Secretary Janet Yellen said Sunday. Long-term unemployment is around a historical peak. While Biden has said he wants to get GOP support for his Covid relief measure, Democrats are taking steps toward passing his approach without any Republican votes. Republicans have opposed the $1.9 trillion price tag and called for lowering the income cap for receiving the full $1,400 direct payment. 4. Trump impeachment trial starts this week U.S. President Donald Trump waves as he arrives at Palm Beach International Airport in West Palm Beach, Florida, January 20, 2021. Carlos Barria | Reuters Pennsylvania Sen. Pat Toomey, one of Donald Trump’s harshest Republican critics in the wake of the Jan. 6 attack on the U.S. Capitol, said Sunday he sees a conviction of the former president at his impeachment trial as “very unlikely.” Trump’s unprecedented second Senate impeachment trial will start on Tuesday. With a 50-50 split in the Senate, it would take 17 Republicans voting with every Democrat to convict. If the Senate does so, it could also vote to bar Trump from holding federal office again or getting certain perks reserved for former presidents. 5. South Africa suspends plans to use AstraZeneca’s Covid vaccine Professional healthcare workers wearing personal protective equipment (PPE) attend to a patient inside the temporary ward dedicated to the treatment of possible COVID-19 coronavirus patients at Steve Biko Academic Hospital in Pretoria on January 11, 2021. Phill Magakoe | AFP | Getty Images South Africa has suspended plans to inoculate its frontline health care workers with AstraZeneca’s vaccine after a small clinical trial suggested it was not effective in preventing mild to moderate illness from the variant dominant in that country. The disappointing early results from the study, which has yet to be peer-reviewed, indicated that giving the AstraZeneca vaccine may not be useful in South Africa. AstraZeneca’s vaccine has not been approved in the U.S. Only vaccines from Pfizer and Moderna have been approved for emergency use so far by the FDA. One from Johnson & Johnson will be reviewed later this month by the agency’s vaccine advisory committee.
Congrats on the 10k. Keep up the good work. Wonder what happened to CY? Did bigbear sometimes realize he was full of bull, LOL.
That's up for Cy to say. He messaged @StockJock-e about a leave of absence is all I know. I was sad to hear it. Hopefully he'll be back soon and is just taking a well-deserved break.
awesome 10k holy shit! lol. also hiya Chris! long time. thank you so much for putting out the thread for this week good sir! I’ll message you on the discord if you have some time this week. will try to give you the full run down of exactly what happened between Gil and myself from the other week. Had to create this new login btw cause I had requested Gil to terminate my main account here. Or at least change the username, p/w and the email associated with it in case you were wondering. I suspect this new login will also be terminated by Gil when he sees this as well so I’ll just catch up with you on discord Chris. Btw, the only reason I wanted to post here was cause your post about me was really touching for me personally. Thank you soooo much for saying that. You are the best! And that is precisely likewise how I’ve always felt about you as well. It’s true. Anyway, will try to reach you on the discord a little later today or this week. Have so much errands to run this week tho haha. Catch up then! Btw, @Rustic1 - I see you’re an old timer from waaaay back on the old HSM days. But somehow your handle doesn’t ring a bell for me. Was that your handle on HSM as well? Or something else? Anyway, it’s always awesome seeing people joining here who used to frequent from back in those days! I’m coming up on 15 years myself here at the community. Which was before the Lehman collapse. That is a long time haha. Later guys!
Bitcoin hit $44,000 today, up 10-15%. Today's news is Tesla bought $1.5 billion of bitcoin in January, said it was trying to maximise returns on cash that is not being used in day-to-day running of the company. I took a quick look at finviz only and it looks like that was their entire reserve of cash went into bitcoin.
Been digging a little on the work you put into this forum. Surely GIL would be more realistic than to delete your account. True, membership is rising but the goal should be to have most of those members active on the boards which in turn would draw in more members. I went all cash recently and now hold only 1 position longterm. Some label me as a doom n gloom type but I can just play the option side both ways without being fully invested. Hope to see you stay and become more active.
More and more are accepting bitcoin as a payment option. If you look at J.M.BULLION they actually give a lower rate as opposed to debit/credit card payments, and just slightly higher than a cash payment. People don't seem to realize inflation is already in the house and use the market as a excuse to be in denial.
South Africa halts AstraZeneca vaccine rollout over new variant The trial, involving some 2,000 people, found that the vaccine offered "minimal protection" against mild and moderate cases. But experts are hopeful that the vaccine will still be effective at preventing severe cases. In the meantime the government would offer vaccines produced by Johnson & Johnson and Pfizer in the coming weeks. Think I heard a factoid that no vaccine has ever taken less than 4 years to develop. Anyhow, it has been interesting that we got like 20 vaccines in a year, which evidently all differ but were claiming 90-95% effectiveness. Bigger picture, I'd be shocked if all these vaccines work. They are less of a steel wall, and more of a permeable net against rona.
CNBC statement matched what is said here: Tesla’s move into bitcoin represents an investment of a significant percentage of its cash in the investment. The company had more than $19 billion in cash and cash equivalents on hand at the end of 2020, according to its most recent filing.
I did a little fact checking myself and you are correct. I found the previous posters statement a little odd.
Was taking a look at XBI holdings, AKBA bursting into a big gap. Also watching LC. I guess nowadays no business can go bankrupt, so watch out for short squeezes.
Thanks, was doubtful that even Elon would put all his cash into bitcoin. Guess finviz data I was looking at was just cash, versus cash & cash equivalents of $19 billion.
If we can get the active numbers up near the membership level. Would like to see CY and some of the others bring the place back.
