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3 hours ago, Boudrias said:

I've been reading that the value of SpaceX is $1 trillion. Give the Space Show a listen if you haven't already. Some interesting stuff. 

There's no way that SpaceX's market cap is $1 Trillion. Currently there only 4 companies in the USA worth more than $1 Trillion (AAPL, MSFT, GOOG, AMZN). No way is SpaceX among them.

 

OK I just looked it up. Several sources have it's market cap as of last October at $100 Billion.

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46 minutes ago, Elias Pettersson said:

The market is in complete freefall.  Scary times ahead.  I can see the Dow at 25,000 before the end of the summer.  

Nasdaq is gravely oversold. I can see a short term bounce of about 5-7%. No predictions on where it goes after that. Inflation and interest rates will dictate that.

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4 minutes ago, nuckin_futz said:

Nasdaq is gravely oversold. I can see a short term bounce of about 5-7%. No predictions on where it goes after that. Inflation and interest rates will dictate that.

Friday is May 13, Friday the 13th.  Will it be the next Black Friday???

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32 minutes ago, Elias Pettersson said:
The US dollar is in a freefall...

 

Weren't the US sanctions supposed to prevent this?

The US dollar is not in free fall. The USD is surging against nearly every currency in the world. When US markets tumble that sends a flood of inflows into the US dollar. Rapidly rising rates in the USA help strengthen the USD. You'll notice in the figures below the countries that are either not raising rates or are raising at a much slower pace have taken the biggest beatings against the USD year to date.

 

EUR/USD (Euro) beginning of the year was 1.1375 now 1.0378 - 5 yr low (a little bit more and it will be a 19 yr low)

USD/JPY (Japanese Yen) was 115.08 now 128.35 - 19 yr high

GBP/USD (British Pound) was 1.3531 now 1.2196 - 2 yr low vs USD

USD/CHF (Swiss Franc) was .9121 now 1.0041 - 3 yr high

AUD/USD (Australian Dollar)was .7259 now .6858 - 2 yr low vs USD

USD/CAD (Canadian Dollar) was 1.2641 now 1.3047 - 2 yr high

 

The Ruble is a special case. Russia is demanding payment for oil and gas in Rubles which creates a huge demand for Rubles. Which in turn strengthens the Ruble.

 

Edited by nuckin_futz
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On 5/13/2022 at 10:36 AM, Warhippy said:

All the crypto bros on your social media feeds are silent all of a sudden.

 

What gives?

The interesting thing about crypto, specifically BTC, is that it seems it is the leading indicator for markets currently. Crypto trades 24 horus per day and often what crypto does overnight, the market does the next day. Once the market gets going - it affects crypto. Very interesting.

 

4% on the SP500 today is huge.

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1 hour ago, I.Am.Ironman said:

The interesting thing about crypto, specifically BTC, is that it seems it is the leading indicator for markets currently. Crypto trades 24 horus per day and often what crypto does overnight, the market does the next day. Once the market gets going - it affects crypto. Very interesting.

 

4% on the SP500 today is huge.

S&P futures trade 23 hours a day. I think you'll find that's your leading indicator.

 

You are correct about BTC being a proxy for risk appetite though.

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11 hours ago, nuckin_futz said:

S&P futures trade 23 hours a day. I think you'll find that's your leading indicator.

 

You are correct about BTC being a proxy for risk appetite though.

It's essentially Nasdaq on steroids right now. I'm interested to see what happens once the turn around comes. I want to see what happens during the next bull run, especially with spot ETFs around the corner in USA increasing access. Nasdaq used to be the bull run play, now maybe it is BTC?

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1 hour ago, Boudrias said:

What is your methodology that gets you to 25,000? 

They are predicting another 20% drop in the S&P 500 if we hit bear market territory, which we are almost in right now. So the S&P going down to 3,000. 
 

If the Dow Jones follows suit then we are looking at DOW 25,000. 
 

Deutsche Bank cut its official target for the S&P 500 overnight, but said a recession would bring even bigger losses.

"In the event we slide into a recession imminently, we see the market selloff going well beyond average, i.e., into the upper half of the historical range and given elevated initial overvaluation, -35% to -40% or S&P 500 3000," wrote Binky Chadha, Deutsche Bank's chief global strategist in a note.

Edited by Elias Pettersson
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I recently bought into BAM since I guess this is about as cheap as it gets and I want that sector in my portfolio.

 

Doubled my position in Disney. I love buying great companies while they are on sale.

 

Putting money together to add to Amazon and Google. Also on sale, just not as much.

 

LOLing at the price changes in my oil stocks. Oil price goes up, they go up. Oil price goes down, it goes down. Like it matters if the price of oil is $102 a barrel or $105::D Wake me up if there's danger if it goes below $60 a barrel (still make money at that level, it's just if it's in buckets or bathtub amounts). Regarding the price the economy isn't fully opened yet, electric cars still need grease and oil is used for a hell of lot more than gas. 

 

The F150 lightening presold everything ford can make over the next two years. Electric cars (and trucks) are coming but they aren't going to be dominant for 20 years. So I own Ford too lol but the oil stocks are holds for a few years probably, but they aren't forever stocks.

 

Speaking of electric cars, there isn't enough metal to make all the batteries and electrical charging and transmission for those. So I own a good chuck on miners.

 

Own 2 x Canadian banks. Those are forever holds.

 

And a bunch of other stuff that's just what is interesting at the moment.

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2 hours ago, Elias Pettersson said:

Deutsche Bank cut its official target for the S&P 500 overnight, but said a recession would bring even bigger losses.

"In the event we slide into a recession imminently, we see the market selloff going well beyond average, i.e., into the upper half of the historical range and given elevated initial overvaluation, -35% to -40% or S&P 500 3000," wrote Binky Chadha, Deutsche Bank's chief global strategist in a note.

:lol:

Edited by nuckin_futz
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