At what point is it time to buy the dip in oil?
Buying puts if we pump into close has to be free money
Holy shit that stock chart today.
Opens at 6.22, drops to 3.24 by 11:25am (-48% from peak), recovers to 5.57 by 12:20 (only down 10.5% on the day now), closes at 5.10 (-16% on the day).
What the fuck was going on there?
Swongs
Efficient markets baby
So tomorrow is another 10% down i guess if we’re following the pattern
If someone had more than $100k currently in Fidelity cash (whatever equivalent thing they put cash in) - are there some steps someone should take to try to make sure it’s safe? Like split up $100k chunks and put them in FDIC insured things? Most of this is in an IRA btw.
That’s what I was trying to figure out a couple days ago. Best info I came up with is it depends. Investment accounts can be FDIC insured if the underlying investment is FDIC insured. So if your IRA is invested in stocks you’ve got no protection. If it’s in a money market you might have protection. You’ll probably have better luck with Fidelity. My 401k is with John Hancock, even though it’s 100% money market I have no confidence it’s insured with all the bullshit wrappers they use to hide fees. Also FDIC covers $250k so you could probably go up to that unless you’re trying to diversify bank failures + FDIC defaults.
Take this FWIW cause I literally only spent about 10 minutes looking into it. I would not trust my info for $100 much less hundreds of thousands.
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Isn’t FDIC insurance $250k per account now?
You need to be careful to figure out whether you’re looking at a balance held by a bank (FDIC coverage) vs. a brokerage (SIPC coverage).
https://www.schwabmoneywise.com/public/moneywise/essentials/understanding_fdic_and_sipc_insurance
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My Fidelity accounts all say FDIC insured except the brokerage account. The rest are IRAs.
Brokerage:
IRA:
Humble brag but the IRA is over $100k. When I drill down it says it’s split across US Bank and some other bank. But more than $100k is in US Bank. Did the limit go up?
Ah - well super humble brag because yeah that’s about where it cut off. Although you know my range now lol.
My buddy in KC who works for Hallmark said he lost over $100k Monday. I know he’s not leveraged or daytrading or anything. I don’t get it though. He was really worried about getting laid off a month ago. His house is paid off. He’s 48 and has no kids. I’m like why not just take the severance and unemployment and live the dream for a while? He likes working I think.
I could retire 2x over on what he has.
The sweep account in both of our Roth accounts at Fidelity are FDIC insured. I believe you have a choice between an FDIC insured account or a MM account for your sweep account.
Is my money market account insured? It says government right on it. Who can you trust if you can’t trust the government amirite?
Shorting vix and going long oil in a 3x etf. How dumb am i?
If you look at the sweep account in the “Positions” tab the FDIC insured account looks like this:
I posted the screenshots. I have that in everything except brokerage.
Just keep us up to date. I wouldn’t put a huge chunk of your accounts into it but I’m long way too much UPRO right now.
Well our Roth accounts are in a brokerage account, so it’s an option. Maybe you just chose the MM when you set it up?
Edit: guess I’m using the term “brokerage” wrong here.
Fidelity has different core fund choices which you can change at any time.
Government money market, taxable, muni and cash sweep to name a few.