Pump thru summer, corrupt Congress passes a capital gains holiday, everyone cashes out, everything crashes, Biden gets elected on the back of a failed Trump economy, big banks who own him (Delaware, duh) write new regulations to rig the game even harder and steal more. WAAF except Jamie Dimon.
Lmk if any of this is too out there. I mean that in the most sarcastic way possible.
Seems like it is Bitcoin 2017 all over again. FOMO on steroids + stimulus money to burn. I do wonder what happens when the PPP and extra UE disappears. Obviously that assumes it won’t be extended.
Ah sweet I read it was 499 going into this session. I also saw Hertz is up infinity percent despite being bankrupt. Maybe the existing shareholders can flip their shares for some liquidity.
On June 6th 1980 the Dow Jones was 861 and has gained 31x since. If the Dow repeats itself in the next 40 years it will be at 418,000.
A 1980 dollar is worth $3.35 today. So really a 9x gain. And I think the average real return is something like 7% real return over very long periods. Figure 2% dividends paid over that period so you’d expect a 5% real return. Over forty years that would be like a 7x real gain in price. So not really that outlandish.
It’s more fun with out the adjusted inflation but yeah millennials aren’t imagining that the Dow could be at 250,000 in their lifetime.
Man, I was such a scared sissy just a month and a half ago. Good thing I didn’t sell my STONKS.
I did. I think im even or still up on that decision lol.
Ya that’s how I live with the fact I set a few k on fire buying puts during the biggest upswing ever, at least I haven’t touched my tax advantaged accounts at all.
I do think I am getting close to considering buying more puts with maybe October or so expiration. We are basically back at ATH now and I’m really not sure how much farther this thing can run tbh. There is still a ton of downside risk imo. Wave 2, further civil unrest, the market realizing Donald might lose, the economy not just instantly getting back to normal. The upside is what? There is more stimulus? It seems the market has basically already priced Covid being over in just about.
Then again and as always we are talking about STONKS here so who knows.
I mean fake unemployment data, an official recession and Arizona hurtling towards hospital capacity, with massive protests sprinkled in are good for +4% since Thurs close.
I’m becoming convinced we’re going to let the reopenings rip with no further shutdowns and mass graves in our future though, so I guess the covid stuff doesn’t matter anymore.
the fact that widely known and undisputed fake unemployment data resulted in a 2% gain AFTER a weekend to digest the news should be a massive sign that this is all completely rigged
Trucking spot rates have started the process of normalizing.
lol
This is big!
If true.
lol
I’ve positioned with pretty much this exact path in mind. In the Fed’s defense, they were pretty much obligated to stimulus spend to stave off deflation. The dollar chart quoted above pretty much tells the tale, once OFB takes off, those dollars will become inflationary and the Fed will have a very difficult time removing them from the economy. So yeah, Biden is better than a coin flip to have a stagflation economy in his first year. And Cocaine Mitch will be there every step of the way crying about deficit spending.
Nasdaq 10,000! STONKS
