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Stock Market 2020

Scott Cee aka 2drx4 said:
Is anyone into this Hertz rental car shit? It keeps popping up as headlines because the whole situation sounds unprecedentedly fucked. :lmao:
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not really, something about they popped a bunch, then declared BKCY, then popped some more and the CEO was like "yall fucked, we cancelling this debt!" or some shit :rasta:
 
Provience said:
not really, something about they popped a bunch, then declared BKCY, then popped some more and the CEO was like "yall fucked, we cancelling this debt!" or some shit :rasta:
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Well it seems like a bunch of people bought it up after it was bankrupt. I have no idea why, if they operate how I assume then they really don't have any physical assets. So now they're dealing to issue new shares to raise capital, which of course is upsetting some of the people that bought into it. :confused:

I don't know, not my cup of tea, but I imagine somebody here is trading it?
 
GonPostal said:
The Bankruptcy Judge works Saturday's....whoda thunk?

Anyway, Judge confirms PG&E's bankruptcy plan today 6/20/20, and they are now out of bankruptcy.

https://www.nytimes.com/2020/06/19/business/energy-environment/pge-bankruptcy-court-approval.html

They have a daunting task before them, to harden their grid; but at least by emerging from Bankruptcy before June 30th; they can now dip into the States wildfire funding pool.

Should be interesting to see what PCG stock does on Monday. They were in the low $20's prior to the pandemic.....
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Dropping to under $10, wouldn't of guessed that. I'm not worried with my 50 shares. Small investment and I got plenty of time to wait for it to go back up.
 
5150Jeep said:
Dropping to under $10, wouldn't of guessed that. I'm not worried with my 50 shares. Small investment and I got plenty of time to wait for it to go back up.
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my 10.75 purchase hit, checked later and added some more at 10.25, got busy and missed it going under $10 or else i would have added more :rasta: glad i waited the weekend and didn't buy above $11, still happy with these prices for the next year
 
5150Jeep said:
Dropping to under $10, wouldn't of guessed that. I'm not worried with my 50 shares. Small investment and I got plenty of time to wait for it to go back up.
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Read something about a hold up on bonds sales PG&E was trying to move, which may have reflected in today's price.

I'm still holding on until just before peak winds / fire season in October and will sell at whatever price it's reached. Even though PG&E is now more protected financially by being able to dip into the State wild fire insurance fund; I'm sure the market will react accordingly if PG&E is involved.....
 
Are we going to have another down day or an immediate bounce back? I'm hoping for another beat down so I can buy tomorrow when I have funds available.
 
GonPostal said:
Read something about a hold up on bonds sales PG&E was trying to move, which may have reflected in today's price.

I'm still holding on until just before peak winds / fire season in October and will sell at whatever price it's reached. Even though PG&E is now more protected financially by being able to dip into the State wild fire insurance fund; I'm sure the market will react accordingly if PG&E is involved.....
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Now below $9. I'm not going to panic and sell, but still surprised how much it's still dropping. I'm currently down 25% on it.:homer:
 
5150Jeep said:
Now below $9. I'm not going to panic and sell, but still surprised how much it's still dropping. I'm currently down 25% on it.:homer:
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I bought 298 shares when it was around $9.40.

I'll probably blow another $2k on it in a couple weeks as long as it's still below $10.

My top performers have been facebook and snapchat. I got heavily invested in both back in March. Snapchat is up 120% and facebook is up like 60%.

I'm happy. Chevron stock I just got into seems to not be making big moves either way, hoping for some kind of bounce. Will probably start pulling out a couple months before the election and investing in physical precious metals.
 
5150Jeep said:
Now below $9. I'm not going to panic and sell, but still surprised how much it's still dropping. I'm currently down 25% on it.:homer:
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i've been buying once or twice after it went below 10.50 (?) and i'm just picking it up and picking it up as it drops. Keep losing on it, but not real worried about it :rasta:
 
I'm taking a sizable position in canned food options expiring in 2022 or so. I foresee an upward trend in protein costs this fall

:stirthepot:
 
I bought Square right when this all started, currently up 125%
nvidia I've owned for a couple years up about 125%

costco I've owned for a year or two, also up 50%

I have some down stocks, but overall I'm up about 30%
 
5150Jeep said:
Now below $9. I'm not going to panic and sell, but still surprised how much it's still dropping. I'm currently down 25% on it.:homer:
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Last week was the "confirmation" of the BK Plan by the Judge.

PG&E is now "officially out of BK", with the advent of the recent stock and bond sales. Making a good up tick today....
 
Didn't notice yesterdays dip till today, sign of further plummeting?
 
larboc said:
Didn't notice yesterdays dip till today, sign of further plummeting?
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It depends on how the market reacts to earnings. I think this rona shit continues and there will be some downside. The market is oversold by a large margin.
 
I pulled back yesterday. I know people of retirement age that went almost full money market yesterday. school openings might wreck things a while. I'm betting its all overvalued now that we are back to where we were. im up 19.72% this quarter. time to go conservative
 
PCG is still my worst performing stock. Guess I'm going to hold that bag for awhile.:homer:

I've only been adding to my ETF's: KBWD, SPHD & VYM for the past month. 2 of them payout dividends monthly so it's been nice to see those payouts come on a more regular basis.
 
Bump,
not been trading too much the last couple months, part of my plan was to "sell in May and go away" as the summer is usually chop city. Due to Chinese Flu, not the case this year, as the run into early June was pretty good.

But between projects at the house, and pro racing making a return, I have definitely traded less since late June, and been more focused which has resulted in better trades, and nice profits.

Quarter 2 earnings were not terrible, and if you were positioned well, you likely have seen good increases in the prices. Looking at you AAPL, which I think will continue to be bought up into the split in a couple weeks time. While splits are not as common as they once were, typically AAPL has consolidated after the split then moved higher. I expect the same again when they split 4:1 soon. But definitely a swing to long term trade.

With the Fed continuing to print money, and the Orange Man in the White House intent on vote buying, albeit with our own money, I think the market continues to grind higher. August is normally a down month into early Sept, but I think come mid-Sept to early Oct we continue the grind higher. Unless there is major political news, and Biden becomes the more likely winner. I plan on being mostly cash, or at least have pretty tight stops on the swing and long term positions by mid Oct - just in case. Trump re-elected market legs higher, Biden and market corrects 15 - 20 %

just imho,

hope the summer has been good to all - I missed the KODK play on the upside and did not want to touch it on the downside, but the JMIA options made my July. Took LEAPS and averaged 700% in less than 2 weeks, took my profits and ran. Swing trade accounts continues to way outperform my day trade account (still carrying those January losses), the one account I manage for my folks was new money one year ago, and is currently up over 70%, the "conservative" long term account up over 30% this year.

Those who went cash in March / April and hoping for a retest of the lows must be suffering serious FOMO the last few months :lmao:
 
Holding and going mostly cash in June worked out for me, I got my van driveable and registered with the cash and I've had way more fun than $500 with that :D

so far, it turns out that the vast majority of my portfolio is still not at or above the point it was when I sold, if PCG will get back over $10 i'll be in the black everywhere again, but no big deal there. it is slowly trudging along.

i fully agree that the money machine is negating what would otherwise be the second dip by all rights, hopefully after the election people can get back to work (can't believe i'm saying that this far in :barf: ) and things can chug along without nearly as much money manipulation
 
my smith and wesson is at 25, i bought it at 6.
thinking of selling it off soon and reinvest in GE,
thinking it will make a come back.
 
I'm honestly dumbfounded by this market. So far here's my 2020 activity and results

GS- Very long term holding. Bought in the 2008 shitshow and have rec'd good dividends and ok appreciation. Prob keep.

BP- Bought in 2008 also, but early in the yr while things were still wonderful.... So long term loss. Bought more in 2015 for 1/2 price. Then March 2020 more than doubled down and am now green. For the life of me I don't get what's going on with this stock. They are an oil company that has decided to get into "green" energy and out of oil. Earnings this year are shit, but no surprise. Div was cut in 1/2 this month. Stock keeps gaining. I'm tempted to dump it just because I think they are on a fucked path forward. Would love opinions?

BA- bought near bottom. Sold for 50% gain. Stock is now $25 higher than I sold at even though horrible news keeps coming out non-stop about the company and industry.

FB- Bought @ 150 in March. Sold later for a 55% gain. Stock is now $30 higher than I sold at. :homer: I think I was very right on this one and should have kept conviction. Knew revenue would be up due to people being stuck home and ads having higher chance of being served. I got spooked though when I heard that large companies were pulling their ad $ and then the whole boycott thing..... I should have held on to this one.
 
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I have silver, it ran from $18oz to $29.xx and back to $26 currently, but the premiums are up, so physical price is still $32ish, it was a fun month

I'm really conflicted on my future moves. Assets are trading way over earnings, housing is still booming with record unemployment, we should have deflation, but with trillions being printed, it's like we're speeding up for potholes.

We have inflation, but not full on Weimar yet, the defaults and liquidation is postponed by "stimulus "

I am debt free, and have been, but I think we're going to have years of very high inflation. I think the smart move going forward is to take on debt before interest rates rise, instead of buying a high hour skid steer cash and building a dump trailer, squeeze the dealers trying to make a sale, get the close out clearance price, and the cheap financing, then repay it over 10 years with watered down money

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