Quote: MDawgNow that BTC has jumped past 60K, I'd like to bury the hatchet officially with PokerGrinder. Not that I ever had anything against him anyway.
He and I are so pleased that BTC is on the verge of surpassing its ATH, that petty forum matters, matter not!
The MDawg theory of stocks is that once a stock surpasses its ATH, the sky's the limit! The same applies to any commodity.
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What has changed that would make it up 135% in the last 6 months?
Edit. It was SOOPOO asking the question with formatting issue….
Anyway, I could comment on the WHYs, but let's let someone else comment.
My policy for BTC for over a decade now has been to just accept it whenever anyone wants to pay me in it, and then just hodl it. I don't even think about it beyond that, other than knowing that it will go up over time. And it has, massively.
I've accepted BTC when it was worth about nothing and when it was worth as much as 20K or so. If someone offered it to me today as payment @ 61K I would accept it too. Bring it! I have never sold any, just accumulated.
I have sold (converted to fiat) some stable coins but then those when a client pays me in them, don't even go up so the only benefit there in hodling has been interest earned. And even then I've sold pretty much only the interest earned portion of the stable coins. The online wallet started issuing 1099s to me on interest earned in crypto a couple years ago (I don't know why they did it for 2022, the mandate was for 2023 onwards) so at this point the cat is out of the bag and I will owe massive tax when I sell BTC @ 100K.
Quote: Ace2You may be fine waiting 15 years to break even. I'm not
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I thought it was going to take 15 years for this market to come back?
Quote: MDawgAnd meantime, the stock market is doing just fine and I expect that predictions of long term doom and gloom will be proven wrong.
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Quote: MDawgBTC pushing 55K!
Inevitable at this point that it will surpass its ATH (like everything else MDawg holds).
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As advertised!
Quote: MDawgQuote: MDawgBTC pushing 55K!
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69413USD
+2472
+3.69%
Quote: MDawgSolid at 72K, but I'm interested only in 100K, which is where I plan to unload some.
Just curious, why sell at $100k? How did you choose that number? Why not $95k, $99k, $101k, or $105k?
I guess I like it fine, so far.
I am sure at least some would have wanted to jump on that short.
Been getting back into more frequent trading lately. No time for Vegas lately, but for another ilk of +EV action, certainly!
815 on NVDA was a great trade, ten points were available on the upside. But at the moment NVDA is barely holding 805.
555 is probably the best price for entry NFLX at this moment. 568 to 573 was great for the trade I did earlier - not now.
In general I prefer trades during the first hour of the day, and not afterwards. Stocks have their greatest "elasticity" then, where anything is possible including rebounds from great drops before people have started to give up on the upside.
All right, now we are past the safe zone as far as elasticity. Done for the day.
It‘s hard to lose money in this market.
Quote: MDawgThat was an easy five point Cha'Ching. Filled almost right after I posted.
Been getting back into more frequent trading lately. No time for Vegas lately, but for another ilk of +EV action, certainly!
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You have two "Cha'Chings" on April 18 on short term trades. Are those profit taking events?
I assume your fed and CA taxes are at 52+% combined. That is giving up over half in taxes plus the accounting fees, etc. For me, that does not make a lot of sense. Oh, well.
tuttigym
A couple thoughts.
you gotta know when to hold ‘em. Gotta know when to fold em. Know when to walk away, know when to run.
And well the tax stuff, you know. You never count your money when you’re sitting at the table. Don’t hate the player, hate the game.
Quote: mcallister3200Tuttigym,
A couple thoughts.
you gotta know when to hold ‘em. Gotta know when to fold em. Know when to walk away, know when to run.
And well the tax stuff, you know. You never count your money when you’re sitting at the table. Don’t hate the player, hate the game.
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You need to write a song or something. That is catchy.
Taxes and expenses just add up and can point to trouble.
Just sayin'
tuttigym
Meantime it has been all over the place today, 791 - 840 , which translated to some easy profitable long trades for me.
Yesterday TSLA missed on both earnings and revenue BUT more than carried the day by claiming that it will expedite introduction of more affordable models. I think a lot of the pop has to do with simply that TSLA has been oversold lately.
All over the place, up 50, down 50, and back, within minutes, hours, days.
MSFT reports after the bell today.
As far as the trades obviously if you jump in at completely the wrong time you'll have a harder time making money, which is why they say that 90% of day traders lose money, but I think a better statistic is that the 10% who do make money like me do it all the time.
Another fact is that the reason the 10% make money is because of the 90% who keep losing. We make money over their dead corpses. For every 100 losers who pull the trigger at the wrong time and then dump in a panic, there are 10 winners who swoop in and make money off the losers' losses.
And for the most part I am just trading extra shares of stocks I have held very very long term. With NVDA that is one that I didn't even consider until very recently, so for that one I have been trading it only.
NVDA is pushing 850 again, in the AH.
GOOG / GOOGL partying.
META dropped a lot from yesterday's close, but ended about +25 off its low.
CMG is another serious winner, been holding this one long long term...but even in the medium term this stock was something like 550 during the pandemic stock collapse, over 3000 now!
NFLX is slowly recovering too.
AMZN pushing 180 in the AH.
Nothing keeps these big'uns down for long, apparently.
My recommended buy for NFLX for anyone wanting to enter this week has been 555, but it's actually dipped below that lately.
In the interim traders like me cha'chinged money right and left, and the weak panicky hands kept dumping money (which transferred into the winners' pocket) over and over.
I'd jump on a META trade again today if it dips below 430.
NFLX can't seem to get up and go. Yet.
AAPL got a healthy pre-market pop.
TSLA rocking.
Quote: MDawgI'd jump on a META trade again today if it dips below 430.
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I followed my own advice but not sure if I'm going to get the 2 pts, maybe just 1.
Too often the markets whipsaw on FED announcement days. The FED cuts rates? GREAT, market roars! And then - wait a minute, you mean the economy is so bad that the FED needs to cut rates? Oops...sell off.
Or the FED raises rates and the market starts tanking...until it decides that this somehow means that the economy is strong, and people start buying up again.
All in a day's work, at the U.S. stock markets.
As far as buying into the market is concerned - if you're going to go long term, the thing to do is to buy whenever you have the money. Forget about trying to time the market.
Trading is a whole different matter.
Apparently BRK didn't start buying up AAPL until 2016 (I personally have held it pushing twenty years), but still, AAPL has gone up tremendously since 2016, perhaps more than anything else in BRK.
At some point he wrote this letter explaining why AAPL was so much better than NFLX as an investment, but people really didn't care and kept buying up NFLX, and still do.