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The 2023 Stock Market Thread

Bought an AMC $4 Call Expiring Sept 29th
I already messed up my gambling account so now I'm really going down with the ship or... I might actually make some cheddar.

Increased my position in Enbridge ENB since they are taking a shit kicking but I didn't average down that much. Aiming to secure 500 shares and just HODL. 75 shares to go...

Next goal is to average down my Bell Canada (BCE.TO)

Penciled OXY for review... I forgot about them.

Dividends are my only saving grace... I am hoping I can crack $4000/year this year
 
Been busy and shit service. Looks like banking is tanking again. Going to have to see why. Went from licking $9k in my account to $7.5 or so.

Tempted to sell a bunch of stuff and try again in a month. Probably going to just drink this bottle of scotch instead

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I sold off a huge penny stock loss from my gambling account I knew wasn’t coming back. $2300 poof! I’d held it for 2 years… I’ll get a little tax break this year at least
 
Been buying the last 2 days. Not gonna lie, the portfolios are underperforming this year. Being heavy in banks with TFC and GS has hurt me. Ironically my XLF (sector fund) is positive for the year. I predict we are at or near a bottom on the banks. So far earnings have still been decent. Banks are mostly selling way below the S&P PE levels. And I think the Fed is done for the year. Fact is that supply chain has done a lot to slow/stop inflation. I'd love to see these rates kill the real estate market for a while, but that's just a personal wish list so I can buy a vacation/retirement home.
 
The scotch was a better idea :lmao:

this is a good visual example of why running stops or setting safety sells or whatever you want to call it is a reasonable tactic.

It was going pretty good up there in august and i've gone ahead and ridden this off the cliff :rasta:

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5% T bills seems to be the best bet right now, a rising rate environment usually doesn't end well for equities.
 
I'm down another 5% today, lost a damn nice truck in a month. thank god i started investing in land after loosing my ass in the stock market last time.
 
Norm said:
5% T bills seems to be the best bet right now, a rising rate environment usually doesn't end well for equities.
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Leaning toward agreeing with this. I really thought we would get another couple months at least of upward movement but I'm thinking now that everyone is saying "recession in 2024", it seems like it's ripe to come early. I also see news for one of my holdings proving the slowdown has started. Rail traffic has been steadily dropping this year. I'm going to start reducing positions whenever their RSIs hit above 90.

Still loving XOM right now. It's a stock that has worked like clockwork buying when RSI is 0 and selling at 100.

I'm trying to figure out patterns with the VIX and UVIX etf. UVIX swings so wildly that there has to be money to be made, especially if things are turning downward.
 
GarScramb said:
Leaning toward agreeing with this. I really thought we would get another couple months at least of upward movement but I'm thinking now that everyone is saying "recession in 2024", it seems like it's ripe to come early. I also see news for one of my holdings proving the slowdown has started. Rail traffic has been steadily dropping this year. I'm going to start reducing positions whenever their RSIs hit above 90.

Still loving XOM right now. It's a stock that has worked like clockwork buying when RSI is 0 and selling at 100.

I'm trying to figure out patterns with the VIX and UVIX etf. UVIX swings so wildly that there has to be money to be made, especially if things are turning downward.
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I see durable goods in decline ( houses, cars, rv's, etc). But overall consumer spending is still increasing due to high employment. Strange times. My guess is bonds and rates go higher for longer than most expect before the back breaks on the economy which is really the only way to fight inflation.

Things will break sometime soon, everyone will act like it's a surprise :homer:. Oil might do well depending on the mideast and russia, but if things calm down and the economy cools oil will head to zero really fast. Generally stocks head higher along with rate increases until the vertical cliff is hit. This is all typical late cycle shit.
 
My only green holding is Snap-On… can’t figure that one out? Earnings tomorrow and that bitch is probably going red 😂

Mothfuckle I just checked and its RED
 
_03_ said:
Is there a bailout coming for Ford?

I can't day trade, therefore I'm batting down the hatches for the storm.Call it timing the market with a %.
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Ford is fawked!
 
What's the thoughts lately on AMC? Made a shitload on it a few years ago when that whole GameStop thing was going on, got back in while it was at around $7, now up around $2500 on it. Keep debating dumping it, but between the latest big movies and especially the Taylor Swift one, I wonder if it's still got room to grow.

Cedar Fair is another one of my larger holdings and they just announced a merger with Six Flags today, with all their parks eventually coming under the Six Flags name. Resulted in the stock going down a bunch today and I don't know what that will look like in the long term, buyout etc. I'm still quite up on it so I could bail tomorrow and be in a good spot, but really don't need that kinda gain on my taxes at this moment...

Should've dumped CCL when it was at $19, stuck with that and at this point I'm just gonna hold it forever I guess. Still see that coming back eventually (hopefully).
 
vetteboy79 said:
What's the thoughts lately on AMC? Made a shitload on it a few years ago when that whole GameStop thing was going on, got back in while it was at around $7, now up around $2500 on it. Keep debating dumping it, but between the latest big movies and especially the Taylor Swift one, I wonder if it's still got room to grow.

Cedar Fair is another one of my larger holdings and they just announced a merger with Six Flags today, with all their parks eventually coming under the Six Flags name. Resulted in the stock going down a bunch today and I don't know what that will look like in the long term, buyout etc. I'm still quite up on it so I could bail tomorrow and be in a good spot, but really don't need that kinda gain on my taxes at this moment...

Should've dumped CCL when it was at $19, stuck with that and at this point I'm just gonna hold it forever I guess. Still see that coming back eventually (hopefully).
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I’m still in the AMC play because I got greedy and can’t write off the loss in my taxes due to the account it’s in. I made some off it but I’m still red… I don’t think I’d jump back in unless you can buy heavy and scalp at like 2-3 bucks. Maybe it’s worth gambling on some options?

I’m green again on Snap-On since my last post. I need to sock away some money in my RRSP account to buy more. I don’t see that cash cow going anywhere.
 
_03_ said:
I missed this.

Union wages, high prices, low demand, high inventory, operations costs, etc... The breaking point will soon come.
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In my local area, at a couple of very large dealers....ford has low inventory still and high demand...

Will be interesting to see what happens...but I think when demand drops, and interest rates keep going up..the. all 3 will be hurting..not just ford... my .02
 
DT75FLH said:
In my local area, at a couple of very large dealers....ford has low inventory still and high demand...

Will be interesting to see what happens...but I think when demand drops, and interest rates keep going up..the. all 3 will be hurting..not just ford... my .02
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The large lots around me in the NW have full lots again. Even have multiple Broncos and fleet trucks sitting.
 
What's your YTD ROI %? I'm at 33.82% in my Schwab account...but i also put $40k in cash to buy some dividend stocks, so if you back that out I'm at 9-10%, which is acceptable to me.
 
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I've been too scared to buy anything for the last several years, and it just keeps getting scarier the more I learn.

Tried selling a bunch last march but didn't do it right so it didn't go through as a sale, now it's down about 33% from where it was.
 
Roc Doc said:
What's your YTD ROI %? I'm at 33.82% in my Schwab account...but i also put $40 in cash to buy some dividend stocks, so if you back that out I'm at 9-10%, which is acceptable to me.
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I was up there, then I went negative for the year :laughing: maybe I'll check in next week :rasta: avoidance is the answer
 
Roc Doc said:
What's your YTD ROI %? I'm at 33.82% in my Schwab account...but i also put $40 in cash to buy some dividend stocks, so if you back that out I'm at 9-10%, which is acceptable to me.
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I just checked my ROI I’m “only down” 10% now 😆 🤦‍♂️

I should just stop playing… I don’t know wtf I’m doing 😆. What I need to do is average down on some of my blue chips like BCE since I’m down 16%
 
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