DOW 23,000+ today?

[Grant 302]

So barring anything unusual or at least notable, I’ll check in on the other side of 37k.

Well, 36k fell without much drama yesterday. Leveraged ‘bets’ from the week of 10/11 paid off nicely this week.
I think 37k gets hit by January.

One thing I did learn recently was that the initiation fee for Thermal went up from $85k to $125k. Membership cost at Chuckwalla seems much more reasonable now.

 

[Bill Pemberton]

Well sounds like the only Thermal most people will have is underwear, ha! Seems counter productive to me , since there are so many other tracks out there now or being built. Those of us in the Midwest are pumped up because there is a new track just finished near Lake of the Ozarks ( Ozark International Raceway ) and right at 4 miles long with tons of elevation changes everyone is super excited for 2022.

MPH ( Motorsports Park Hastings ) just was repaved and when folks find out how reasonable it is to join and more, it is understandable why folks 200-400 miles away are members there. Heck, 125K would be a big down payment on a track condo there and then one can just leave your toys at the track.

 

[Fat Boss]

What everyone's opinion on what the effect of the inflation will be on the stock market? Is it going to give it a kick in the nutz when the Fed is forced to raise rates? Or will the inflation help drive equities higher? I guess the same question goes for the housing market. My house value is up about 25% since last year, which we all know is unsustainable.

 

[Grant 302]

Or will the inflation help drive equities higher?

This. JMO.

My house value is up about 25% since last year, which we all know is unsustainable.

Well, perhaps on a yearly basis…but I don’t think that’s the case long term. Again, JMO.

 

[302BOB]

"Today in history" tidbit...from yesterday....1972 "The Dow Jones Industrial Average closed above the 1,000 level for the first time, ending the day at 1,003.16"

 

[Bill Pemberton]

Have to go along with Grant 302, I think we will see 37,000 by January and it things keep trending upward we may see it before the end of December? Up 100 again today. Always good to remember history and inflation has not always meant a stock market downturn. I wish I had taken some of Grant's advice in 2020, and I am great on hindsight mistakes, ha.

 

[Grant 302]

Well, it’s never a great idea to just take advice from some guy on the interwebs!
That said, even though it’s pretty flat this morning…I think today is ripe for a bit of a pop. Options expiry today.

 

[Bill Pemberton]

I completely agree , but it definitely is good to have lots of folks giving their thoughts and advice to help reinforce your own goals. You are a youngster so much more aggressive than this old codger, but I still need to keep aware for some of my portfolio. Always appreciate your insight and others on this Forum -- goes along well with other sources.

 

[Grant 302]

You are a youngster

Lol. Crazy talk!
But you’d probably be surprised at the ratios of my passive/fixed income. It’s a lot of ‘work’ to get stuff moved over. Tax management always comes into play by this time of year.

Got the pop I needed, but not the magnitude I wanted. Just got to play at the ‘free’ casino.

 

[Fat Boss]

My 85 year old mom was telling me how she's had NVDA stock for about 20 years now. The first time she went to a stockholders meeting there were about 20 people in a conference room and the CEO went around and shook everyone's hands, and thanked them for owning shares. Looking at the chart, I think she paid less than $2/share. Go mom!

NVIDIA Corporation (NVDA) Stock Price, News, Quote & History - Yahoo Finance

Find the latest NVIDIA Corporation (NVDA) stock quote, history, news and other vital information to help you with your stock trading and investing.

finance.yahoo.com

It's nice to see LRCX is back on track. Demand is there for the products, just limited by supply chains at this point.

 

[302BOB]

The nut don't fall from the tree.................take that for what's it worth................

 

[Grant 302]

Nice.

Made money on both sides of a strangle. 3x and 10x. Zero complaints here.

 

[302BOB]

No complaning when you're gaining.....smile in the mirror and you'll always get one back.......................

 

[Grant 302]

And days like this are when it pays to hedge. Markets slump and are reacting to the new variant.

 

[Fat Boss]

That was a nice rebound today. Go Go LRCX to an all time high!!!

 

[302BOB]

Hold on to yous hats and other things....the next covid/health scare and/or anything else may bring further havoc before you can see it coming....smart money rests where it's safe for now........

 

[Grant 302]

Just getting interesting.
I keep telling people to hedge. Nobody really does, AFAIK. Spike in the VIX is paying pretty well right now. Gonna fund a lot of purchasing when the time comes.
South (just) of 32k is a target. Somewhere just North of 4k for the S&P. Time will tell.

Otherwise, tax management strategies already in full swing. Uncle Sam already gets his fair share. Before CA taxes kick in. Lol.

 

[Grant 302]

Inflation officially recorded at 7.5%…and this is just the start regarding the long term unwinding effects I’ve been blabbing about. Put your money to work or live with the consequences. Fed is gonna do what it can to prevent ‘80s levels…but it only has so many tools to do so.

 

[302BOB]

but it only has so many tools to do so.

Higher interest rates are their best weapon...That will slow things...a bit...........as will it to the economy................Hold on to your hats.......................Predictions for inflation next yr are between 3-4%....That's much better than 7-8% this yr....................

 

[Grant 302]

Predictions for inflation next yr are between 3-4%

No way it’s gonna be that contained. Just sayin’. Issues this big take time to unwind.

What’s funny is the announcements may have more actual effect than the raising does.