How did you know I was buying a new (used) boat ?, did I let that slip in one of my midnight ramblings ? But Yeah, that's what I've been up to the last couple of weeks , that and renting out a 1br .Apartment during Covid !!
I had no clue about the boat. Have you actually been boat shopping? Well I could tell I was in a race for the GREEN today. I could see from looking at my account that the gains were slipping as the day went on. BUT.....I ended up in the GREEN....by a minimal amount. AND....I beat the SP500 by .16%. So....I STILL have a shot at a perfect GREEN week. I have not looked at the MEDIA line for the afternoon FADE. I suspect it is the fact that the FED will be talking tomorrow with numerous members giving their opinions. Why in the world we need to have them giving personal....individual....opinions, I have no clue. What a colossal waste of time.
WELL....here is what I see about today....not that it matters. I am just curious as to the excuse today. Stocks slip off record highs Swiss lender Credit Suisse announces $4.7B writedown https://www.foxbusiness.com/markets/stocks-dow-biden-credit-suisse-gold (BOLD is my opinion OR what I consider important content) "U.S. equity markets slipped off record highs Tuesday as investors continue to weigh the possibility that Congress approves both President Biden’s $2.3 trillion infrastructure package and tax hikes. The Dow Jones Industrial Average fell 97 points, or 0.29%, while the S&P 500 declined 0.10% and the Nasdaq Composite was flat. Both the Dow and the S&P 500 finished at record highs on Monday. Biden said on Monday that he wasn’t worried about higher taxes hurting the economy. However, Sen. Joe Manchin, D-W.Va., a key swing vote, expressed concern that raising the corporate tax rate to 28% from 21% would hurt American competitiveness. On the economic front, U.S. job openings rose in February to the highest level since January 2019. In stocks, Swiss lender Credit Suisse Group AG announced a $4.7 billion writedown and said it would lose $960.4 million in the first quarter due to the fallout from the unwinding of positions owned by the hedge fund Archegos Capital Management. The company also announced two executives would immediately step down from their positions. Block trades made by Credit Suisse tied to the Archegos saga are weighing on shares of ViacomCBS Inc., Vipshop Holdings Ltd. and Farfetch Ltd, according to Reuters. Elsewhere, biotechnology company Illumina Inc. guided current-quarter and full-year revenue above Wall Street estimates. Meanwhile, energy producer Phillips 66 Co. warned its loss for the current quarter would be larger-than-expected due to the winter storm that snarled operations in the U.S. Gulf Coast region in February. In commodities, West Texas Intermediate crude oil jumped $1.04 to $59.69 per barrel and gold rallied $9 to $1,737.80 per ounce. European markets were higher across the board with Britain’s FTSE 100 trading up 1.28%, Germany’s DAX 30 rising 0.98% and France’s CAC 30 advancing 0.5%. In Asia, Japan’s Nikkei 225 slid 1.3% and China’s Shanghai Composite slipped 0.04% while Hong Kong’s Hang Seng climbed 1.97%." MY COMMENT I probably would not have even posted this WEAK excuse for the drop today....if not for the interesting tid-bit that Credit Suisse got themselves WHACKED by the unwinding of the Family Office last week. So.....I guess the media commentary last week about it being a non-issue was not exactly true.....at least if you are Credit Suisse......and......you LOSE nearly $1BILLION of your own money.....and I wonder how much of that $4.7BILLION write-down is due to the unwinding action. It is just FUNNY that these BIG BANKERS are the people that we all let run the world economy, the markets, etc, etc, etc. The rest of that"stuff" about the stimulus and Manchin.....was out and in the news before today. There is ZERO doubt that it will pass by reconciliation. SO.....we move on after a CONSOLIDATION day.
yes, I just got the closing papers today. My family has been in boating since before I was born, One of the perks of growing up in Seattle. We spent a couple of weeks just on the boat, as our summer vacation. Went all through the San Juan Islands, Canadian San Juans , and up into Canada every summer. Places like Powell River, Victoria, Vancouver, Squirrel Cove, Von Donup Inlet, April Point, and our favorite Desolation Sound. google those locations and you'll see why we want to go back . And let's face it, we aren't getting any younger, Time to enjoy some of the fruits of our labor, In response to your post : Of course the media wants to interview them, more chances of coming up with some garbage they can exploit for a sensationalized headline. Ended the day Down Stocks DN .39% ETF's DN .08% Was bound to come back a little after yesterdays surge. I was actually surprised this morning when I was up a little, then they (the traders, brokers) came back from lunch and decided to sell. I guess they had to take some from profits from yesterday to pay for lunch.
Sounds like a good vacation oldmanram. Washington State is certainly a great place for boating....at least Western Washington. At one time....we lived on 7 acres with low bank waterfront on Puget Sound....Gig Harbor. We owned a few boats at that time. BUT.....my favorite was my little 14 foot aluminum Gregor with a Mercury outboard. I spent a lot of time out on the Sound in that little boat. I would take that little boat all around....down to Olympia, McNeil Island, Raft island, Fox Island, Cutts Island, Horsehead Bay, The Burley Lagoon, The Narrows, and on up north of the Narrows to Vashon Island and beyond. I recognize some of the places you listed, but have not been to any of them other than Victoria and Vancouver.
FINAL....post of the day. I like this little article. It is a pretty good summary of where we are now and going forward. Stock market news live updates: Stock futures trade higher, shaking off earlier declines https://finance.yahoo.com/news/stock-market-news-live-updates-april-7-2021-221305239-221231308.html (BOLD is my opinion OR what I consider important content) "Stock futures kicked off the overnight session higher Tuesday evening after a mild day of equity market moves, with the S&P 500 and Dow pulling back just slightly from record levels. Contracts on each of the three major indexes traded slightly above the flatline after 6 p.m. in New York. Investors this week have been digesting a spate of better-than-expected economic data, with job growth accelerating faster-than-anticipated, an index of service sector activity reaching a record level and manufacturing activity expanding by the most in decades in recent months. The International Monetary Fund upgraded its global growth forecast to 6% this year from the 5.5% rise seen previously, largely reflecting the quick recovery in the U.S. economy. "Clearly the market today is telling you, don't try to bend the trend. There's an upward bias to the market – it's a fairly strong upward bias and until it breaks, you want to, I think, be heavily in equities," George Ball, Sanders Morris Harris CEO, told Yahoo Finance. "But when prices do break, the market clearly is seeking some form of new leadership, [so] I don't think a smart investors would be wise to buy a dip quickly." But even given these upbeat signals, inflation concerns that had weighed on investors in recent weeks at least temporarily attenuated, and the yield on the 10-year Treasury note fell back toward 1.65%, or about 10 basis points below last week's highs. Investors have also been eagerly awaiting first-quarter earnings season in the coming weeks, with the reports likely to show corporate profits grew in tandem with strengthening economic conditions. In the near-term, additional incoming signs of economic expansion are likely to continue buoying equities. However, as growth starts to taper after an initial surge off last year's virus-depressed levels, the march higher in stocks could also take a pause, some strategists warned. "Very near term, we expect equities to continue to be well supported by the acceleration in macro growth, and see buying by systematic strategies and buybacks driving a grind higher," Deutsche Bank strategist Binky Chadha wrote in a note. "But we expect a significant consolidation (-6% to -10%) as growth peaks over the next three months." "We then see equities rallying back as our baseline remains for strong growth but only a gradual and modest rise in inflation," Chadha added. "Further out, late summer and into the fall we see the risks to inflation as being to the upside."" — "6:02 p.m. ET Tuesday: Stock futures edge up Here's where markets were trading Tuesday evening: S&P 500 futures (ES=F): 4,066.25, up 2.25 points or 0.06% Dow futures (YM=F): 33,330.00, up 15 points or 0.05% Nasdaq futures (NQ=F): 13,581.75, up 11.75 points or 0.09%" MY COMMENT This little article is PACKED with good information. A good summary of the GOOD STUFF that we will see over the next months. One of the most comprehensive....very short....articles that I have seen in a long time. REALLY good concise, informative, writing.
For anyone considering the Coinbase direct listing that will happen next week......here is some actual earnings data. Coinbase Quarterly Profit More Than Doubles 2020 Total https://finance.yahoo.com/news/coinbase-sees-profit-least-730-200926905.html (BOLD is my opinion OR what I consider important content) "A week before going public, Coinbase Global Inc. said it expects to report that first-quarter profit of $730 million to $800 million, more than double what it earned in all of 2020. Coinbase, the largest U.S. cryptocurrency exchange, likely generated revenue of $1.8 billion in the first three months of the year, surpassing 2020’s annual total of $1.3 billion, the company said in a statement with its preliminary results. It had 56 million verified users in the quarter, with an average of just over 6 million users who transact monthly. The exchange, which also operates a digital-currency custody business, plans to make its debut through a direct listing with Nasdaq on April 14, the first of its kind for a major cryptocurrency company. Other crypto startups considering going public and institutions that have mulled entering the industry will be watching the debut closely to gauge investor demand. Coinbase didn’t provide any profit or revenue targets for the second quarter or full year. It said it anticipates “meaningful growth” in 2021 revenue from the custody business, but didn’t break out a first-quarter total. Scenario Building Noting the “inherent unpredictability” of its business, which is impacted by the volatility of token prices, Coinbase outlined three different scenarios for its monthly transacting users for the year, with the most optimistic view predicting 7 million such users and the pessimistic view seeing 4 million for the year. Coinbase, founded in 2012, was valued at about $90 billion in its final week of trading on Nasdaq’s private market, Bloomberg News reported. It expects about $35 million in one-time expenses related to the listing next week. The company was founded by Chief Executive Officer Brian Armstrong and Fred Ehrsam, a board member who invests in crypto startups. Armstrong, a technical product engineer at Airbnb Inc. before starting Coinbase, owns a stake worth about $15 billion. Ehrsam, a former Goldman Sachs Group Inc. currencies trader, owns a stake worth more than $2 billion, according to Bloomberg estimates. Bitcoin, the largest digital coin by market value, has more than doubled so far this year. That’s helped lift the cryptocurrency market past $2 trillion and make the timing favorable for new offerings. The listing will come less than a month after the Commodity Futures Trading Commission said on March 19 it reached a $6.5 million settlement with Coinbase, resolving claims that the company reported inaccurate data about transactions and that a former employee engaged in improper trades. Coinbase didn’t admit or deny wrongdoing in settling." MY COMMENT I am still....somewhat....considering this direct listing. A RARE IPO that is actually making money......$800MILLION in profits for the first quarter on revenue of $1.8BILLION for the first quarter. The revenue in the first quarter EXCEEDED the revenue for the entire year of 2020. With this being a direct listing....the price per share when the direct listing happens is really opaque. Not a lot of info out there. This company would be a way to participate in the Bitcoin boom. They are the largest Crypto exchange in the USA and probably the best known. THIS IS NOT A RECOMMENDATION TO BUY THIS STOCK.......DO YOUR OWN RESEARCH!!!!!
Making some changes to my stock account to be more long term focused. When I moved my IRA recently, I went with a focus of 60% S&P 500 etfs, 15% high dividend funds focused on bonds, debt, etc., 10% each into 2 stocks that I think have a lot of growth potential, 5 % still unallocated. I like the approach of mostly being in the S&P with some growth capability and some high dividends to keep the fund growing. Hoping to make no changes for at least a year. So I'm revamping my stock account in somewhat the same mental manner, just not quite so S&P centric. Several of my positions have been doing great but some were stagnant and one was downright lousy. So yesterday I sold NVAX (the lousy one), IWM (stagnant), GTN (stagnant), ABBV (stagnant), and TRTN (exists in my ira so duplicative). Will be selling VV today and I sold DIS last week. Keeping CSSEP, ENB, GOF, KLIC, QTS-A which are all doing well if not fabulous. When all is said and done I will have approx. 15% in VOO which has cheaper costs than VV and is somewhat ordered to the same underlying stocks. The DOW transportation index is much higher than the DOW or S&P itself so I'm putting almost 10% into XTN. Semiconductors are hot right now so I'm going with almost 10% into SMH. I'll also improve my positions in CSSEP, ENB, and KLIC. Keeping a couple K in cash to invest in existing positions once I see how these changes work out. I'll have S&P 500 (VOO and to a lesser extent XTN), energy (ENB and KMI), reit (QTS-A), bonds/debt (GOF), semiconductors (KLIC, SMH), and transportation (XTN). No small cap (unless part of SMH or XTN) but there is a fair amount of different sector exposure. I'll have only 8 positions to watch and worry over instead of 13. This should be less tempting for me to intervene too often. So this is my plan for the balance of the week.
The markets will be a CAPTIVE to the FED today. As usual....after announcing and confirming their position at least 500 to 1000 times over the past six months.....EVERYONE is waiting to see what the FED position is going to be. I dont think it is much of a secret.
Decent start today but as soon as Powell farts the markets will nosedive. Headline News Jerome Powell farted during a news conference in Chicago this morning and the noxious odor encouraged investors to abandon tech stocks for bonds which appeal to investors with an exaggerated sense of smell. The odor was 2.7% more noxious than similar releases by Powell, stoking fears of inflation.
HERE is the story of the day....at least so far. California plans to lift most Covid restrictions June 15, keep mask mandate https://www.cnbc.com/2021/04/06/cal...d-restrictions-june-15-keep-mask-mandate.html (BOLD is my opinion OR what I consider important content) Key Points Newsom said on Tuesday that the state will reopen its economy by June 15 provided that coronavirus vaccine and hospitalization cases remain stable. “We will need to remain vigilant and continue the practices that got us here – wearing masks and getting vaccinated – but the light at the end of this tunnel has never been brighter,” Newsom said in a statement. The state is also slated to end its four-tiered, color-coded system which has been used to determine risk levels. "WASHINGTON — California plans to reopen its economy by June 15 so long as there are enough Covid-19 vaccine shots for everyone who wants them and hospitalizations remain stable, Gov. Gavin Newsom said Tuesday. “With more than 20 million vaccines administered across the state, it is time to turn the page on our tier system and begin looking to fully reopen California’s economy,” Newsom said in a statement. “We can now begin planning for our lives post-pandemic. We will need to remain vigilant and continue the practices that got us here – wearing masks and getting vaccinated – but the light at the end of this tunnel has never been brighter,” he added. Newsom’s announcement comes a little more than a year after California, the nation’s most populous state, shut down its economy due to the unfolding health pandemic. The state is also slated to end its four-tiered, color-coded system, which has been used to determine risk levels. Last month, a slew of states across the nation relaxed restrictions to varying degrees. Texas rolled back its mask mandate and allowed businesses to reopen at 100% capacity as of March 10. The Lone Star State also welcomed the nation’s first full-capacity sporting event with the Texas Rangers’ home opener Monday against the Toronto Blue Jays, which sold out with more than 38,000 fans sitting side by side. Arizona’s governor also ended capacity limits on businesses and continued to recommend masks, but didn’t require them. Alabama’s governor said the state would lift its mask mandate after April 9. South Carolina lifted the state’s mask mandate in government buildings but recommended that restaurants continue to require face coverings. The latest revelation comes as federal health officials warn that Americans should still continue to adhere to public health measures as warmer summer months approach. “You might remember a little bit more than a year ago when we were looking for the summer to rescue us from surges. It was, in fact, the opposite,” the White House’s chief medical advisor, Dr. Anthony Fauci, said during a coronavirus briefing Monday. “We saw some substantial surges in the summer. I don’t think we should even think about relying on the weather to bail us out of anything we’re in right now,” he added. Fauci also said Monday that Americans should continue to get both doses of the Pfizer and Moderna Covid-19 vaccines, despite a recent study that suggests only one dose may be enough. The Centers for Disease Control and Prevention has also recommended that Americans continue to hold off from traveling due to coronavirus cases nationwide. “We know that right now we have a surging number of cases. I would advocate against general travel overall,” CDC Director Dr. Rochelle Walensky said last week. “We are not recommending travel at this time, especially for unvaccinated individuals,” she added." MY COMMENT Yes....the many states that are now OPENED are doing fine. Nothing like a RECALL to get things opened in California. This should start the domino affect to get the entire West coast open again in the next 2-4 months. The East and Midwest....perhaps in the next 2-6 months. SO......we are "probably" about 6 months from having the entire country open again. That means that we are not going to see TRUE EARNINGS from business for about a year. NO DOUBT........earnings are going to go up nicely starting with the first quarter earnings that will come out soon. But it is going to take at least a year to see everything fully open and business fully open and operating. This is a good thing for the stock BULL MARKET. It is going to help to extend the bull market for another 1-2 years as the economy slowly re-opens. OBVIOUSLY...many if not all big corporations are up and running.....most never stopped. But the reopening is going to take away the......fear of the unknown.....and....speculation as to corporate growth and earnings.
Reopening will also restore jobs in hospitality, travel, etc. People will go to concerts and ballgames bringing much needed business back to the bars and restaurants that depend on that traffic. And as you hinted, fear will be replaced by confidence which is a good thing.
Hey W! Quick question... just trying to follow your logic here... I’d imagine that if you were to invest in Coinbase it wouldn’t be a small sum of money, but regardless, wouldn’t it make more sense to already buy crypto/bit coin with that money instead if you’re already considering investing in that sector?
The open today is kind of a re-hash of yesterday. Lets hope we can finish a little bit stronger after the FED is done REPEATING their position....again. Today is like yesterday....really nothing negative in any of the financial news. BUT....the markets are going to do what the want to do. Short term....REALITY does not exist.
Gtrudeau , looks like a good balanced approach, I'm just staying the course, my techs have been hit lately, but they had a good bounce last Monday. Only thing that may be on the chopping block for me is VHT , vanguards health care fund, performed OK over the last 12 months. up 38% , it didn't fall quite as bad during the pandemic crash, and had a quick recovery but has lagged behind the past 6 month's. Or maybe I just need to adjust MY expectations. And not be so greedy, I picked it for the Loong Term anyway. W: those Gregor aluminum boats are great , look up and down the beach and you see, every other house has one out front. For a reason, great to fish, or crab out of them. light weight , 2 people can pull them up the shore when your done. Started off mostly green, 1 hour in and I'm about 60% up , .............................. the red is starting to invade my screen
I am STILL very much...up in the air...about Coinbase. I think there is good potential for them to end up as the CHARLES SCHWAB of Crypto......a HUGE brokerage business. To me they are a much more STABLE way to invest in Crypto.......indirectly. They are an actual business and will be reporting actual earnings. They are NOT a commodity....as is Crypto. I believe an investment in Coinbase will be much less RISK than actual Crypto. I really dont care to be a currency trader. ALTHOUGH.....I am STILL doing my little $100 per month into Bitcoin through my account with.....you guessed it.....Coinbase. If I do decide to buy the stock.....it will be a small amount...perhaps 100 shares. AND....as I was thinking before.....it will probably STILL be a short to medium term trade. There will be plenty of time.....later......to buy the stock if they look like they are becoming a DOMINANT COMPANY for the long term. BOTTOM LINE.....I am still thinking about it...but have not decided to do anything yet.
Out and about all morning....just got a chance to look at my account. A very nice day so far. BUT......we have to finish. It does no good to put in a nice day and than FADE at the end. It is all about the......CLOSE.
This has got to be a good sign for Zukodany. As a comics collector and seller......this sort of news really helps to drive the market forward. Rare original Superman comic sells for record $3.25 million https://www.cnn.com/2021/04/07/business/superman-comic-record-sale/index.html "An "exceedingly rare" copy of a comic book that introduced Superman for the first time has sold for a record-breaking price. The issue of "Action Comics #1," which sold for 10 cents when it was originally released in 1938, was auctioned Tuesday for $3.25 million according to a press release from online auction house ComicConnect.com. This particular copy was "buried in a stack of old 1930s movie magazines" and was in mint condition. It has been sold at least three times before, including most recently in 2018 for more than $2 million, the broker said." MY COMMENT It is amazing what people collect......and.....what has BIG VALUE. It is also amazing all the different ways that exist to make money as a business or collector. Of course.....this sort of SCORE is very, very, RARE.
I guess the FED minutes were.....OK. Here is a little summary of where they are at the moment. Of course.....someone will have to ask them tomorrow......."did you really mean it?" Stock market news live updates: Stocks drift near record highs https://finance.yahoo.com/news/stock-market-news-live-updates-april-7-2021-221305239-221231308.html (BOLD is my opinion OR what I consider important content) "Stocks traded little changed Wednesday as investors considered the latest batch of stronger-than-expected economic data and digested meeting minutes from the Federal Reserve. Each of the three major indexes hugged the flat line, with the S&P 500 and Dow hovering near record levels. Investors this week have been digesting a spate of better-than-expected economic data, with job growth accelerating faster-than-anticipated, an index of service sector activity reaching a record level and manufacturing activity expanding by the most in decades in recent months. The International Monetary Fund upgraded its global growth forecast to 6% this year from the 5.5% rise seen previously, largely reflecting the quick recovery in the U.S. economy. And JPMorgan Chase CEO Jamie Dimon said Wednesday that the current U.S. economic boom "could easily run into 2023" amid the massive fiscal and monetary policy support provided to individuals and businesses. "Clearly the market today is telling you, don't try to bend the trend. There's an upward bias to the market – it's a fairly strong upward bias and until it breaks, you want to, I think, be heavily in equities," George Ball, Sanders Morris Harris CEO, told Yahoo Finance on Wednesday. "But when prices do break, the market clearly is seeking some form of new leadership, [so] I don't think smart investors would be wise to buy a dip quickly." But even given these upbeat signals, inflation concerns that had weighed on investors in recent weeks at least temporarily attenuated, and the yield on the 10-year Treasury note fell back toward 1.65%, or about 10 basis points below last week's highs. The Federal Open Market Committee's March meeting Wednesday afternoon also offered a look at how monetary policymakers were thinking about the conditions sufficient to warrant an adjustment to their policy stance, and what level and duration of inflation might prompt a move. In these, "participants noted that the economy was far from achieving the [FOMC's] broad-based and inclusive goal of maximum employment," suggesting a sharper and more sustained rebound would be needed before policymakers begin to think about tightening. Investors have also been eagerly awaiting first-quarter earnings season in the coming weeks, with the reports likely to show corporate profits grew in tandem with strengthening economic conditions. In the near-term, additional incoming signs of economic expansion are likely to continue buoying equities. However, as growth starts to taper after an initial surge off last year's virus-depressed levels, the march higher in stocks could also take a pause, some strategists warned. "Very near term, we expect equities to continue to be well supported by the acceleration in macro growth, and see buying by systematic strategies and buybacks driving a grind higher," Deutsche Bank strategist Binky Chadha wrote in a note. "But we expect a significant consolidation (-6% to -10%) as growth peaks over the next three months." "We then see equities rallying back as our baseline remains for strong growth but only a gradual and modest rise in inflation," Chadha added. "Further out, late summer and into the fall we see the risks to inflation as being to the upside." — 2:09 p.m. ET: FOMC meeting minutes show participants viewed economy as 'far from' reaching Fed goals The Federal Open Market Committee's March meeting minutes showed most FOMC members still felt the economy had a long way to go before reaching the central bank's targets on labor participation and inflation, suggesting adjustments to the current, highly accommodative monetary policy stance were unlikely in the near-term. "Participants noted that the economy was far from achieving the Committee’s broad-based and inclusive goal of maximum employment," according to the minutes. "Some participants commented that labor force participation continued to be held down by workers’ health concerns and additional childcare responsibilities associated with virtual schooling and that the pace of recovery in the labor market would depend importantly on how rapidly those affected by these issues could rejoin the labor force." On inflation, "most participants noted that they viewed the risks to the outlook for inflation as broadly balanced," the minutes said. " MY COMMENT SOME of this article is a re-hash.....but the info on the FED is new. Looks like they continued with what they have told us at least 500 times over the past six months. Did anyone really expect anything different? REALLY? We are in a......VERY POSITIVE....time for stock investors right now. ALL the economic data is coming in strong. The re-opening is progressing with EVEN California going to re-open in a few months. AND....earnings are about to start....and they should be STRONG. WEIRD......I did not see many of the....."PROFESSIONAL"...market timers and traders predict any of this. In fact the MEDIA was STILL pretty much DOOM&GLOOM up until about two weeks ago. SO..... I continue to be fully invested for the long term as usual.
