General Market Jibber Jabber Thread

[simp2]

A surge in credit card spending and home purchases caused US household debt to increase by $313 billion, or 2.1%, in the second quarter, according to the Federal Reserve Bank of New York.
That's the largest nominal jump since 2007 and the biggest percentage increase in seven and a half years.

In total, American consumers held $14.96 trillion in debt at the end of June — the biggest pile of bills on record and $812 billion more than what was owed at the end of 2019, before the pandemic hit.



Yay house prices are going up!!!
Yay people are purchasing tons of goods and services!!!

Who's going to pay for all this?

[sonatine]

I read a compelling thesis that theres about to be a huge selloff (crypto and everywhere else) because people are going to be cashing out whatever they can once debt forbearance's end starts to get processed.

[gauchojake]

I am buying some shit like Roku and Disney.

Thinking about grabbing some beat up healthcare stocks for the long haul. Shout out to onestep!! $CLOV

Probably the worst thing ever was rolling old 401k into an IRA so I can trade like a full retard

Waiting on options approval which is probably a bad idea but maybe just to write covered calls.

Going to sit on some cash just to be prudent. 10.1.3

[sonatine]

mixed opinions on 401k but im also a fiscal pyromaniac so...

$dis is the next amazon tho, book it.

[gauchojake]

Well that Robinhood thingy really took off

[gauchojake]

BUY THE PEAK

[sonatine]

Embedded Tweet

[onestep]

Opted in to buying 100 shares of RH for the IPO @ what eventually came out to be $38. Wasn't surprised at the rocky opening. Day after my friend, who is ALWAYS wrong on predictions, thinks US is just a country waiting to crumble under its own weight and thinks that most companies are corrupt(reminds me of someone on here) chimes in how RH is doomed. He opts to invest in silver and Airbnb rentals in Upstate NY. I read this and immediately double down buying another 100 shares at like 35/36 ish.

I wakeup to see this up 15% and then 30% and then 45% and I pull the ripcord at $76 and change. Roughly $7600 for 4 trading days work. Beautiful.

Consequence is I cant buy anymore IPOs for 60 days because I didn't hold onto it for at least 30 days. Totally fine with that.

Explored the possibility of buying August 20 puts in the $55 dollar range but considering how I burned $1k on my previous POWW July Calls, I will gladly sit on the sidelines waiting till it gets back in the $40ish range to rebuy.

Kill me if it opens at $95 tomorrow.

[sonatine]

Roku

honestly, fucking roku ERs.

[gauchojake]

lol buried

I guess beating your earnings estimates by 273% is bad

[sonatine]

the craziest ass part of this is it will just moon again

[gauchojake]

Glad I didn't hit the double whammy with GM

Apparently crushing numbers just pisses people off 10.1.3

[sonatine]

it sounds like quite a few orgs are dramatically downgrading their expected returns for next quarter due to a bunch of real ugly shit coming down the pipes like debt forbearance vanishing, the fall covid wave, actual inflation, shipping issues that will only get worse, you get the idea.

also i love how the government is starting to vaguely nationalize the superconductor pipeline.

say hello to our next hot war invasion thesis.

[onestep]

Sooooooo.... October SPY Puts?

[sonatine]

67% of the market is down and SPY is at ATH pretty much so no, probably not.

[Zalgo]

say hello to our next hot war invasion thesis.

Gooooooood Mooooooorning Iiiiiiiraaaaaaaann

[sonatine]

and pretty much any of africa with any rare earths. might as well go after the bolivian lithium mines while we're at it.

[gauchojake]

10.1.3

[sonatine]

10.1.3

https://www.youtube.com/watch?v=lLDmnW8EuZA

[Wiganer]

https://www.youtube.com/watch?v=j6RoWUGz520

[gauchojake]

+ 50 more shares of Roku at 382.22
+ 200 shares of GM this am at 53.85

I also just put a bunch of cash back into funds so I didn't yolo myself into 20 more years of working for the man.

[onestep]

Explored the possibility of buying August 20 puts in the $55 dollar range but considering how I burned $1k on my previous POWW July Calls, I will gladly sit on the sidelines waiting till it gets back in the $40ish range to rebuy.

Woulda been golden with these today. $640 option for a $4800 gain in 1 day. Ha.