I saw the DOW well over 32,000 earlier today with not a mention anywhere in the media at the time. It has now dropped back some and is 50/50 whether it will close over 32,000 today.
Days like today.......and the past three or four weeks...... are a good illustration why I dont do the NASDAQ 100 Index. It does have a great record over the past ten or twelve years. BUT......it is EXTREMELY sensitive to anything that is negative to Tech. I think the SP500 is a much broader and much safer Index in a correction or down market. Each has its place and particular investors that might prefer it. BUT....for an Index to be used as a one stop shop.......in my opinion.........the SP500 is FAR PREFERABLE as a broader representation of the ENTIRE business world here in the USA.
YET another little bit of data and opinion as to the business environment over the next 6-24 months. The job market is about to boom: Goldman Sachs https://finance.yahoo.com/news/the-job-market-is-about-to-boom-goldman-sachs-165224915.html (BOLD is my opinion OR what I consider important content) "After one promising jobs report and a new $1.9 trillion stimulus plan, the macroeconomic strategists at Goldman Sachs are getting onboard the post COVID-19 vaccination job market boom train. "The main reason that we expect a hiring boom this year is that reopening, fiscal stimulus, and pent-up savings should fuel very strong demand growth," said Goldman's chief economist Jan Hatzius in a new report Monday titled "The Coming Jobs Boom." Added Hatzius, "Another key reason we expect a quick labor market recovery is that two-thirds of remaining pandemic job losses are in highly virus-sensitive sectors, where employment should rebound as the economy fully reopens. The sharp increase in the virus-depressed leisure and hospitality category in the February employment report provided an early hint of things to come." Hatzius is putting his forward economic projections where his mouth is at. The widely followed economist reiterated his 7.7% U.S. GDP forecast for this year, the highest among Wall Street firms. Hatzius sees the unemployment rate reaching 4.1% by year end, the lowest among his peers on the Street. Meanwhile, Goldman's chief U.S. equity strategist David Kostin reiterated his 4,300 S&P 500 price target for 2021 in part because of the jobs market recovery. 2021 could see a booming jobs market, Goldman Sachs reasons. Goldman's optimism on the jobs market comes after a fresh read on jobs that many on the Street viewed as a key stepping stone to brighter months ahead as more people get vaccinated. Non-farm payrolls rose by 379,000 in February, above the 200,000 expected. The unemployment rate fell to 6.2%, unexpectedly improving from January's 6.3%. And private payrolls improved 456,000. Goldman's Hatzius expects monthly job creation to average 332,000 in the first quarter, then accelerating to 683,000 in the second quarter and moderating a touch to 667,000 in the third quarter. He sees fourth quarter monthly job gains averaging 522,000. Other veteran economists think job growth could even be faster than what Goldman has outlined. "In mid to late year, you will see job gains of above a million per month as people stream back into the labor force," RSM chief economist Joseph Brusuelas told Yahoo Finance Live. MY COMMENT So....the future looks so BRIGHT.......we might ALL end up wearing shades. Emmett? Maestro?
Is now a good time to buy TSLA? I came across extra cash and been looking at tesla for a while now, just seen they took a dip...
Might be....I STILL think it has another 20% or more to drop. Perhaps as low as $400 to $450. BUT....that is simply my GUESS....NOT something you want to act on or hold off acting on. I guess it depends on how you see their next few years. I see them as one of two situations: 1. They bring many new production facilities online over the next 1-3 years and with their superior battery and AI tech dominate the EV market. or 2. EV tech and vehicles become ubiquitous and TSLA is the early STAR of the EV market but falls to the wayside as electric vehicles become the norm and are produced by EVERYONE in the world with very similar features....just like the typical car today from all the different manufacturers. I tend to believe number 2. But I am curious what will happen when the Austin and Berlin factories come on line. Of course it could be some totally different situation or some combination of the two......in other words....WHO KNOWS. I debate selling the rest of my shares while I STILL have about a 200% gain......or.....keeping perhaps 100 shares.....as a long term flyer and selling the rest. BUT, I dont anticipate doing anything immediately.
Thank you for the advise. I decided to invest it in VOOG, can’t go wrong with S&P500. In 28 years old so I want to be able to double my money several times in my lifespan.
Well DAX....as a 28 year old you should have a pretty good shot at doubling your money 6-7 times by age 68 in the SP500 Index.
Yes...as expected....in the RED today. Plus a beat by the SP500 of 1.80%. I am now down 7.8% from my all time high. Actually better than I expected considering the Tech that is in my portfolio.
Speaking of TESLA above. It is now down by about 17-18% from my post about 1.5 weeks ago speculating that it might have another 20-30% drop left in it. UNFORTUNATELY with what we are seeing......I STILL think perhaps another 20-30% from today. No news or PR for the stock.......is.......bad news at this point. I suspect a LOT of shareholders are being SHAKEN OUT of the stock. SO from the high around $880 we might end up with a 40-50% drop overall. At the moment we are at (-36%). AND....of course retracing is harder than dropping. At this point today it would take a gain of about 56% to get back to that all time high.
Yup... red day today all over... Fun stuff... My prediction is 1 or 2 more weeks of this inflation nasdaq attack nonsense before the conversation will shift towards another sector and more fear mongering.... The funniest thing about green energy is that if Westinghouse & Edison would’ve just LISTENED to Tesla back in the 19th century - we wouldn’t even have gas based cars! It would’ve went STRAIGHT to battery! Poor Nikola
VOOG is a winner , GOOD CALL , I have it in wifes acct , my acct, and in my 3 daughters ROTH IRA accounts.
Up .58% today, up 4.08% ytd .My damn ira dropped 2% today and is 4% down ytd. The mutual funds in the ira must be really NASDAQ heavy. Novavax knocked me down the most but was more than offset by Disney, KMI, GTN, and EMB.
Holy toledo, From the time I started a stock account in Sept until now I am 12% ahead, earning $5291 on a starting amount of roughly $43.9k. My ira is 5.47% ahead earning $5018 on a starting amount of $91.5K on the same day. I am 4% ahead ytd while my ira is 4% under ytd. I'm happier with my performance versus what the ira is doing right now.
Your doing pretty GOOD !! whats in the IRA ? and is it a roth IRA or trad IRA ? ALSO you probably are aware of this , but I'm old and from time to time I forget , in IRA's you don't have to pay cap gains when you buy or sell , only when you distribute , in 30 years or so. So if you want to get rid of something that isn't performing RIGHT NOW , you can switch it up for something that is , I can hear WXYZ in my ears right now, they are burning. But seriously it's something to think about. For instance I am tech heavy , right now I'm being blasted , was down 1.27% today , my techs just are killing me , but my dividend etf VYM (read quality stocks) was up !! Almost 8% YTD !! why ? because like the articles above , and everybody is saying , tech has had a run since last March 23rd . Now probably a little overvalued , and the big boys are going back to blue chips , see the Dow today ? UP 1% , nasdaq DN 2.41% , In my brokerage account I'm not going to swap , MU is up 90% since I bot it last March , the capitol gains on that alone, If short term , would send me into the next higher tax bracket , so I'll just ride it out. I hate paying money to Uncle SAM BUT , my ira's and roth ira's , I can trade in them all I want , no tax consequences , so if I WANT to switch from TECH to BLUE CHIP , DOW 30 , or RUSSEL 2000 , I COULD . But experience has taught me , as well as some other people that MARKET TIMING is tough. And more than once in my life I have made a switch , and boom, the markets flopped, This is just an example of what you COULD DO , I am not recommending you do anything. It's hard to argue with the success of WXYZ or the S&P500
Don't worry Musk has given him his due and his name will be synonymous with progress and human achievement.
Regular IRA. I've approached my financial advisor about reducing our exposure to the mutual funds and adding certain cyclical stocks and ETFs. Waiting to hear back. Who has your IRA if I may ask?
Don’t get too excited. We’re not out of the woods yet.... volatility is here to stay for AWHILE... I’m with W thinking that this will be an “interesting” year... may even end kinda bearish.... but those upticks amidst all this doom and gloom talks confirms to me that all we’ve been hearing, and continue to hear, is NOISE about nothing
