Today Market February 2024

Social media is full of traders bragging about their indecent gains. A correction is impending…

Mag7 is mostly red. Crypto miners are mooning.

Lyft is garbage.

I’m not a trader. I don’t try and play market timing games.

Over the last 12 months, with market volatility and increased interest rates, I’ve sold quite a few of my long term gainers and bought 5%+ CDs and bonds. I’ll be 67 next month and am not in a position to be losing capital. I’ll take a secure 5% return. Even if I miss out on two or three times that potential in equities.

Sold stocks, pay Uncle Sam?
Depending on the nature of the stocks, alternative way to generate cash flow:

  1. sell covered calls vs share holdings
  2. sell enough shares regularly for daily expenses

Disclosure: Don’t have any CDs and bonds. My passive income is from dividends and rents from SFHs.

Did NVDA single handedly bring market out of consolidation (less than 10% decline from recent ATH)? Or is a DCB?

:rocket:

1 Like

Social media is full of posts by traders who happened to own NVDA claiming they are geniuses.
Few years ago, similar sentiments by TSLA traders.
Each Mag7 has this moment in their history. Which new stock(s) could make it to $T market cap? PLTR?

Miners got crazy. :rocket: Relentlessly. Congrats to those who own crypto miners. Didn’t own any.

PM, crypto and miners continue to :rocket:

Market feels toppy. Last two days, Mag7 hardly moved despite strong rallies in crypto. Today, miners are giving back most gains in PM and in the morning. Today, CG doesn’t feel like using foul language, his comment is apt.
Screen Shot 2024-02-27 at 7.23.13 AM

Bitcoin shot past $60k (+7%) yet miners weakens.
Screen Shot 2024-02-28 at 11.54.03 AM

Mag7 continues to show weakness.

Thinking aloud: Investors sell mag7 to speculate in bitcoin under the advice of self-interest financial advisors?

Apparently Knox also feel market is toppy. Also, USD is about to rollover. Buy bitcoin to hedge. Crypto traders believe bitcoin would hit $100k this year.
Screen Shot 2024-02-28 at 1.14.34 PM

Worth of growth stock portfolio makes violent swing today because of COIN. COIN is my 3rd largest holdings after NVDA and SHOP. While crypto traders are laughing to the bank, can’t laugh with them because of SHOP.

Feb 29, 2024.
All greens except @manch’s favorite SNOW.

Another day similar behavior. Bitcoin rallies while bitcoin miners weaken.

Screen Shot 2024-02-29 at 9.14.39 AM

Good news from PCE doesn’t last long. Already giving up gains. According to MeetKevin, crash in mid March. He doesn’t think is a correction. Whatever, market feels toppy.