We continue to RACK UP the gains day by day....even though I dont see many articles or writers talking about the BULL MARKET. We are now just under +10% year to date for the SP500. I had a very nice medium+ gain today in my stocks. Nine of ten were UP for the day. The single loser today was NKE. I also beat the SP500 by o.62%. NVDA had a stellar day today up by $19.36 for a daily gain of 6.12%. Lets HIT IT HARD to close out the week tomorrow......IN STYLE.
The current markets are extremely dependent on what each investor owns. For some of us this has been an EXPLOSIVE RALLY over the last 3-4 weeks. Congratulations if you are participating. If you are NOT participating....be patient....it will happen.
Was watching an interview with Scott Durkin of Douglas Elliman, he made a lot of great points, some that I can relate to, particularly about people who moved out of big cities (NYC, SF) and bought elsewhere - guess what - they still kept their properties in the big cities. Just like me. Also, he made a point that regardless of WHAT the rates are, it’s still cheaper, and makes more sense to buy than rent, since rents are much higher than they used to be prior to inflation hitting. I still believe that there is no problem with real estate, certainly no threat to it being impacted even remotely close to 2008. Simply “buy the house and date the rate”
They are getting hit with high rates and high prices. Really sucks for 20-30 somethings right now. Hopefully the prices will pull back nicely soon because there ain't no way to refinance that.
Looks like another......(phony)....issue is now off the table. Senate passes debt ceiling bill to avert US default https://finance.yahoo.com/news/senate-passes-debt-ceiling-bill-to-avert-us-default-031513439.html MY COMMENT Now that this is resolved about the only issue impacting the markets will be the FED. Earnings are basically over. So is the Debt stuff. So now ALL the media attention will be back on the FED.
I saw the open today and than had to go out and do some errands. OBVIOUSLY the markets did not need any help from me today. I did just do a little trade. AND......as I do on here.....I am committed to listing any trade I do in real time on this thread for anyone to follow along. I BOUGHT.....15....shares of NVDA....one of the few stocks that I own that is down today. Price per share was $394.18. In my usual fashion I went ahead and bought......all in all at once.....no market timing or trying to wait for some MYTHIC entry point. This is a long term hold....added to my existing balance in NVDA........so I am NOT concerned with the recent price jump. I see this company as one of those once in a lifetime opportunities to do some BIG TIME compounding over the next ten years. Time will tell if I am right or not.
Here is the day today. Stocks rally after May jobs report tops expectations https://finance.yahoo.com/news/stock-market-news-live-updates-june-2-2023-114824059.html (BOLD is my opinion OR what I consider important content) "Stocks surged higher on Friday after a strong May jobs report and news late Thursday that the Senate passed the debt ceiling bill, easing fears over a US debt default and a marked slowdown in the economy. The S&P 500 (^GSPC) and Nasdaq Composite (^IXIC) rose above 1% while the Dow Jones Industrial Average (^DJI) rallied more than 2%. The US economy added 339,000 nonfarm payroll jobs last month while the unemployment rate rose to 3.7%, data from the Bureau of Labor Statistics showed Friday. This marks the 14th straight month that job creation came in above what Wall Street economists had expected. Economists had expected the report to show payrolls rose by 195,000 while the unemployment rate was expected to tick up to 3.5%. "Nonfarm payrolls are the elephant in the room," Bank of America US economist Michael Gapen wrote in a note to clients on Friday. "The strength in this metric alone means that a June hike remains on the table in the event of a very strong CPI report on June 13, even if it is not the base case at the moment. And perhaps more important, the continued resilience of the labor market means there is still a strong case for additional hikes later in the year." Meanwhile, debt ceiling fears are diminishing among investors as the Senate voted to approve a bill that will raise the US debt ceiling for two more years. Easing debt ceiling worries propelled stocks higher on Thursday, with all three of the major averages closing the first day of June in the green. On the earnings front, athletic apparel brand Lululemon (LULU) posted better-than-expected results and boosted its full-year revenue guidance. Lululemon now expects full-year revenue in a range of $9.44 billion to $9.51 billion. Previous guidance had been for a range of $9.3 billion to $9.41 billion. Shares of Lululemon rose as roughly 12% on the news. "LULU continues to exhibit strong momentum, driven by product innovation, investments in growth/demand creation, and the benefit of not being exposed to the wholesale channel," Wedbush Securities analyst Tom Nikic wrote in a note to clients on Friday morning. Elsewhere on the earnings side, shares of MongoDB (MDB) were up nearly 30% early Friday after the company reported top- and bottom-line results on Thursday that beat expectations. The database management company also became the latest name in the tech industry to benefit from a mere mention of AI, with CEO Dev Ittycheria saying in the company's earnings release: "We believe the recent breakthroughs in AI represent the next frontier of software development. "The move to embed AI in applications requires a broad and sophisticated set of capabilities while enabling developers to move even faster to create a competitive advantage. We are confident MongoDB's developer data platform is well positioned to benefit from the next wave of AI applications in the years to come."" MY COMMENT A short article today. Not much anyone can say....all the experts, economists, and professionals are.......yes....MORONS. Earnings are KILLING IT.......which they DID NOT predict There is NO sight of the recession they have all been pushing. AND.....the markets were set up to gain big today by all the Debt Crises.....fear mongering. As to the FED and their final....zero or one or two....hikes......we will worry about that later. I really dont care where they end up....no doubt it will be somewhere between......zero to two....more hikes between now and the end of July. who cares.
NOW......LETS HANG ONTO THE NICE GAINS AND EVEN PUSH A LITTLE HIGHER.....into the close today. Two more hours and we are all locked in for the week.
I would’ve but… I got killed last year. I was down almost 26% in 2022 so I guess it all evens out. As you can probably tell, I’m heavily invested in tech and it looks like tech is having a crazy rally now due to the new kid on the block - this AI GUY! Or maybe he’s a gal, wtf knows, Jensen Huang? Alex Karp?? These are your new Steve Jobs and Bill Gates…. One builds the hardware, the other writes the scripts Congrats on the buy W, you’ll do JUST FINE with your add ons. NVDA is here to stay looooong after you and I are gone.
Take the time and listen to this guy. Some SERIOUSLY scary stuff. In essence, he builds a software that’s catered to your needs, whichever business you’re in; medical, army, government, cars…. Then, in full AI fashion, he trains the software to THINK so you won’t need the facilitator anymore, and…. Viola! You have a fine tuned INTEL agent that’s providing you with endless info tailored to your needs. How good is his software? “Ask the Russians” he says (Karp provides intel to Ukraine). I like he’s approach, his product, and leadership. The only thing that scares me is just how accurate his tools are… even he suggests that he himself is worried that this stuff may not be legal.
yes, leave it, if this is your long-term investing money. i play around with maybe <10% of my money. the other is hands off.
I bought Amzn msft and meta in October/nov of last year and got out at 10% profits. Got in again w Amzn for a second round this year but broke even when the bank crisis started to play out. So I made some small gains, but now seeing that this tech rally is blowing out of proportions with AI I’m just not too sure how long it would last so just leaving my positions all in
my late uncle who loved the market would say that anybody can make money in a bull market. so, let's make some money.
out here is la la land the writers are on strike. just a matter of time before AI writes better scripts than they ever could. edit: pasted wrong message. this is regarding the AI interview.
I had a nice fat gain yesterday. BUT.....I still got beat by the SP500 by 0.45%. Eight of ten stocks were UP for the day. My single LOSER was NVDA.....my other non-gain stock was COST which was unchanged basically. We had a nice BROAD rally yesterday that extended beyond the usual tech names. I guess we will soon see a lot more people boarding the BULL MARKET train. That train started pulling out of the station ELEVEN MONTHS ago. The only people that were on board at that time were long term investors that simply stay invested all the time.
Here is how we did for the week.....OUTSTANDING. DOW year to date +1.86% DOW for the week +2.02% SP500 year to date +11.53% SP500 for the week +1.83% NASDAQ 100 year to date +33.18% NASDAQ 100 for the week +1.79% NASDAQ year to date +26.51% NASDAQ for the week +2.04% RUSSELL year to date +3.96% RUSSELL for the week +3.26% MY RESULT for my entire portfolio after this past week........+28.28% year to date. A week ago at the Friday close on May 26, 2023 I was at +25.93% for the year. Three weeks ago I was at +19.32% for the year. My account has gone up by +8.96% in JUST THREE WEEKS. Of course this sort of movement is not sustainable.....but It is nice......and I will GLADLY..... RIDE this wave. We have a long way to go with this BULL MARKET since most people are just starting to wake up to what is happening. Remember all the "experts" talking about how we were going to....re-test the prior lows? They have gone to ground and are waiting for the slightest correction to claim that they were right. LOSERS.
In CELEBRATION....here is the week we just had. Dow leaps 700 points on hot jobs report, Nasdaq notches sixth straight winning week https://www.cnbc.com/2023/06/01/stock-market-today-live-updates.html (BOLD is my opinion OR what I consider important content) "The Dow Jones Industrial Average surged Friday for its best day since January as traders cheered a strong jobs report and the passage of a debt ceiling bill that averts a U.S. default. The 30-stock Dow jumped 701.19 points, or 2.12%, to end at 33,762.76. The S&P 500 climbed 1.45% to close at 4,282.37. The Nasdaq Composite advanced 1.07% to 13,240.77, reaching its highest level since April 2022 during the session. With Friday’s gains, the S&P 500 and Nasdaq finished the holiday-shortened trading week about 1.8% and 2% higher, respectively. The Dow’s Friday advance pushed it into positive territory for the week, finishing up 2%. The Nasdaq notched its sixth straight week higher, a streak length not seen for the technology-heavy index since 2020. CNBC Nonfarm payrolls grew much more than expected in May, rising 339,000. Economists polled by Dow Jones expected a relatively modest 190,000 increase. It marked the 29th straight month of positive job growth. Recently, strong employment data had been pressuring stocks on the notion it would keep the Federal Reserve raising interest rates. But Friday’s data also showed average hourly earnings rose less than economists expected year over year, while the unemployment rate was higher than anticipated. Both data points have given investors hope that the Fed could pause its interest rate hike campaign at the policy meeting later this month, according to Terry Sandven, chief equity strategist at U.S. Bank Wealth Management. “The so-called Goldilocks has entered the house,” Sandven said. “Clearly, on the bullish side, there are signs that inflation is starting to wane, speculation that the Fed is going to move into pause mode, increasing the likelihood of a soft landing.” Easing concerns around the U.S. debt ceiling also helped sentiment. The Senate passed a bill to raise the debt ceiling late Thursday night, sending the bill to President Joe Biden’s desk. That comes after the House passed the Fiscal Responsibility Act on Wednesday, just days before the June 5 deadline set by U.S. Treasury Secretary Janet Yellen." Volatility index closed Friday at lowest since Feb. 2020 — before lockdown The CBOE Volatility Index — also known as Wall Street’s “fear gauge” as it approximates expectations for how much the S&P 500 will rise and fall in coming weeks — closed Friday at 14.60, its lowest since Feb. 19, 2020, shortly before the Covid pandemic closed the economy. About time: Small-cap stocks post biggest one-day gain since November The Russell 2000 index of small-cap stocks jumped 3.56% on Friday, the best one-day rally since Nov. 10, 2022, and rising above its 200-day moving average for the first time since March 8, just before Silicon Valley Bank blew up. The smallcap iShares Russell 2000 ETF outperformed both the largecap iShares Russell 1000 ETF and the SPDR S&P 500 ETF Trust by the widest margin since Nov. 1, 2021. Year to date, the Russell has now gained 3.96%, far behind the S&P 500′s advance of 11.5%." MY COMMENT BRING IT ON.......as we approach FED week soon. Not that anyone cares much about the FED anymore. The jobs report was a real GOLDILOCKS situation.
