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Hikeadellic
Fungi Fan



Registered: 08/31/20
Posts: 1,227
Loc: Appalachian Trail
Last seen: 11 hours, 55 minutes
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Labor day and the stock market
#26917373 - 09/04/20 12:32 PM (3 years, 4 months ago) |
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Hey stock market peeps. What short term stock ideas do you have for going into/out of labor day? Markets sucking right now but hopefully there will be another spike before the election. Thoughts?
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CHeifM4sterDiezL
Chief Globerts


Registered: 07/28/10
Posts: 22,535
Loc: United States
Last seen: 1 minute, 47 seconds
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Re: Labor day and the stock market [Re: Hikeadellic]
#26917421 - 09/04/20 01:05 PM (3 years, 4 months ago) |
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This year is totally off the books. From what I see theres a serious amount of churn happening for a multitude of factors. Some of the biggest being a.) Theres alot of dumb money being thrown around b.) People don't know whats happening for the up coming holidays which are all the money and finally c.) People are trying to free up money to make moves during said uncertain holiday season. Least thats how I feel about it lotta churn with only one thing for certain lotta money being made still and alot of money to be made.
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geokills
∙∙∙∙☼ º¿° ☼∙∙∙∙


Registered: 05/08/01
Posts: 23,417
Loc: city of angels
Last seen: 1 hour, 50 minutes
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Re: Labor day and the stock market [Re: Hikeadellic]
#26917876 - 09/04/20 05:48 PM (3 years, 4 months ago) |
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Best bet: Low expectations.
The market has already had a monster comeback, breaking to new highs in the midst of a pandemic and continued 8%+ unemployment. Breadth has been ever-narrowing, with only a select few and fewer ultimately driving the major averages higher, even as the bulk of stocks languish. I didn't like this market when the pandemic hit, I didn't take the Fed fueled trade (my mistake), but I definitely don't like it any more now that we've retraced more than the initial loss.
My money's on crypto. The volatility is insane and it's not going to be for everyone, but it's where I feel most comfortable (outside of tangible assets such as real estate) given the macro backdrop.
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-------------------- ┼ ··∙ long live the shroomery ∙·· ┼ ...╬π╥ ╥π╬...
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Ahab McBathsalts
OTD Windmill Administrator




Registered: 11/25/02
Posts: 35,107
Loc: Wind Turbine, AB
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Re: Labor day and the stock market [Re: geokills]
#26918615 - 09/05/20 04:19 AM (3 years, 4 months ago) |
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Some of the stocks I've bought at the march lows have been breaking out this week. KO, BNS, GD. These aren't the tech super fliers that everyone has been infatuated with, but they have reasonable multiples and are steadily grinding higher.
I don't want to be playing hot potato with tech stocks trading at 60 or 120x earnings. Someone will be left holding the bag at the top. An index portfolio isn't even balanced anymore because of how much the biggest 6 tech names take up. They might shoot higher, but you have to use reasonable P/E and other valuation metrics at zero percent interest rates. In the late 2000s the biggest share of the stock indices were oil and gas companies. Exxon, Chevron and the other energy giants were like 25% of the index, today the entire energy sector makes up less than 5% of the S&P.
Giants can fall, violently. Diversification is the only free lunch.
-------------------- "Nobody exists on purpose. Nobody belongs anywhere. Everybody's going to die."
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Brian Jones
Club 27



Registered: 12/18/12
Posts: 12,340
Loc: attending Snake Church
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Exxon went from highest valued company as recently as 2013, to removed from the Dow. That didn't take long.
-------------------- "The Rolling Stones will break up over Brian Jones' dead body" John Lennon I don't want no commies in my car. No Christians either. The worst thing about corruption is that it works so well,
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