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Markets still falling like whoa


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Markets down less than 1% now. 
Were the tax hikes on those making more than $1,000,000 a year in income already priced in?
Everything's priced in...tax hike, hedge funds collapsing, banks closing across the us in bulk...all factored in, keep throwing that money in
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7 minutes ago, washparkhorn said:

Markets down less than 1% now. 

Were the tax hikes on those making more than $1,000,000 a year in income already priced in?

Possible that markets realized Presidents propose lots of shit, most of which doesn't become law. You think a single GOP or Manchin/Synema...etc. will agree to a 40+% tax rate?

Edited by Storm the Field
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23 hours ago, Wally Fairway said:

never mind which, stocks only go up & there'll be a new record close next week

No matter FOMO and TINA still in the driver's seat

I'm not saying I was right, but I'm permitted away from being pretty fucking right. So I should sell before fate spites me, again.

Also, this talk of people selling billions in stocks with unrealized capital gains to post lower taxes is crazy, as those sale proceeds (net of taxes due) will go right back into the market. Creating another plunge & spike scenario.

Rinse, wash, repeat

 

 

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  • 2 weeks later...

Stocks climbed toward a record after surprisingly weak jobs data eased fears about higher inflation and a cutback in stimulus. The dollar slumped, while Treasuries fluctuated.

All major groups in the S&P 500 rose, with energy, real-estate and industrial shares leading the charge. Earlier in the day, technology led equity gains as softer economic data drove investors into the perceived safety of pandemic darlings -- megacaps flush with cash and stay-at-home stocks. A gauge of giant growth companies such as Apple Inc. and Amazon.com Inc. pared most of its advance.

https://www.bloomberg.com/news/articles/2021-05-06/asia-stocks-set-for-muted-start-after-u-s-gains-markets-wrap

Spoiler

Federal Reserve Bank of Minneapolis President Neel Kashkari told Bloomberg Television he has “zero sympathy” for critics on Wall Street, who slam the central bank’s aggressive support of the U.S. economy while millions of Americans remain out of work.

“We need to rebuild this labor market and put them back to work. Then there will be plenty of time to normalize monetary policy,” he said.

Spoiler

The long-awaited employment data rattled markets, with payrolls up only 266,000 in April, trailing the projected 1 million surge. For several analysts, the figures may give a boost to President Joe Biden’s $6 trillion economic agenda and another reason for the Federal Reserve to keep its accommodative stance. Treasury Secretary Janet Yellen said the report “underscores the long-haul climb back to recovery,” while retaining her expectation of a return to full employment next year.

Spoiler

“Today’s report suggests that the jobs recovery may not be quite as rapid as many had expected,” said Mike Bell, global market strategist at JPMorgan Asset Management. “If this slower pace of job gains persists, then the Fed is likely to start raising rates later than markets had been expecting. While less good for the economy than a booming labor market, a ‘Goldilocks’ jobs recovery that is neither too hot nor too cold could continue to support equity markets.”

And the brrr goes on . . .

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Edited by washparkhorn
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On 5/7/2021 at 2:45 PM, washparkhorn said:

Stocks climbed toward a record after surprisingly weak jobs data eased fears about higher inflation and a cutback in stimulus. The dollar slumped, while Treasuries fluctuated.

All major groups in the S&P 500 rose, with energy, real-estate and industrial shares leading the charge. Earlier in the day, technology led equity gains as softer economic data drove investors into the perceived safety of pandemic darlings -- megacaps flush with cash and stay-at-home stocks. A gauge of giant growth companies such as Apple Inc. and Amazon.com Inc. pared most of its advance.

https://www.bloomberg.com/news/articles/2021-05-06/asia-stocks-set-for-muted-start-after-u-s-gains-markets-wrap

  Reveal hidden contents

Federal Reserve Bank of Minneapolis President Neel Kashkari told Bloomberg Television he has “zero sympathy” for critics on Wall Street, who slam the central bank’s aggressive support of the U.S. economy while millions of Americans remain out of work.

“We need to rebuild this labor market and put them back to work. Then there will be plenty of time to normalize monetary policy,” he said.

  Reveal hidden contents

The long-awaited employment data rattled markets, with payrolls up only 266,000 in April, trailing the projected 1 million surge. For several analysts, the figures may give a boost to President Joe Biden’s $6 trillion economic agenda and another reason for the Federal Reserve to keep its accommodative stance. Treasury Secretary Janet Yellen said the report “underscores the long-haul climb back to recovery,” while retaining her expectation of a return to full employment next year.

  Reveal hidden contents

“Today’s report suggests that the jobs recovery may not be quite as rapid as many had expected,” said Mike Bell, global market strategist at JPMorgan Asset Management. “If this slower pace of job gains persists, then the Fed is likely to start raising rates later than markets had been expecting. While less good for the economy than a booming labor market, a ‘Goldilocks’ jobs recovery that is neither too hot nor too cold could continue to support equity markets.”

And the brrr goes on . . .

Visit Bromo | Wisata Bromo | Bromo Tour | Paket Bromo: Protein Printer Goes Brrr

People are spending their dicks off.  Strolling down Michigan Avenue large groups are waiting in absurd lines to spend money wherever the hell they can.  Feels weird.  I still don’t think inflation becomes a huge problem.  But it does give me some pause...

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38 minutes ago, ChiTownDoc said:

People are spending their dicks off.  Strolling down Michigan Avenue large groups are waiting in absurd lines to spend money wherever the hell they can.  Feels weird.  I still don’t think inflation becomes a huge problem.  But it does give me some pause...

Michigan Ave. is going to Michigan Ave. - as the fine people of Willmette and Winnetka need somewhere to flaunt. But we need spending to get the system functioning across all sectors. That was a deep ditch:

Chart of Real GDP: Percent change from preceding quarter

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18 minutes ago, Wally Fairway said:

does this mean we are back to trying to pick individual stocks?

Whew. That seems risky without clear winners. 

I think we are in for a very volatile 6 -8 months. Corrections will come but are going to be impossible to predict as the world opens up.

I'm looking HARD at the international markets as a hedge against some of the correction. The US has been in a bear market for way too long but International has been bullish. 

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3 minutes ago, Cheeseweasel said:

Whew. That seems risky without clear winners. 

I think we are in for a very volatile 6 -8 months. Corrections will come but are going to be impossible to predict as the world opens up.

I'm looking HARD at the international markets as a hedge against some of the correction. The US has been in a bear market for way too long but International has been bullish. 

So many countries are dealing with another wave of COVID right now. 

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I think it’s time to pivot towards international developed stocks, and begin thinking about accumulating emerging market stocks. 
 

I’m playing on value stocks as a theme given that they may succeed more in an inflationary environment and tend to pay dividends. I’m in the accumulation phase of my life but for now I’m gonna start leaning on VYMI and DVYE with my biweekly purchase programs. 
 

one thing to be aware of when buying emerging market index funds like IEMG is the weighting they hold towards Chinese tech. It’s something like 20% China tech. Lately their government has not been playing nice with their tech companies so I am happy to stay away from that. 

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2 hours ago, Wally Fairway said:

Question for the crew, are we at a point of market stagnation? 

Has the economy/market snapped its long climb from the pit; and does this mean we are back to trying to pick individual stocks?

Or am I being optimistic, and we really are in for a market correction?

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