The Stock/Investment Thread

[Wraith]

The market is truly ridiculous now. The ETF I usually go for is only 11% from its all-time high. I decided to short it. I've never done that before, but these are lunatic prices.

I'd been worried I hadn't sold enough before, but I've been happy to have the option to correct that. I think it's just that it's starting to look like we're turning the corner on Covid-19, and as always, the market is overreacting. This is not actually going to be a smooth recovery though.

[Loki]

I'd been worried I hadn't sold enough before, but I've been happy to have the option to correct that. I think it's just that it's starting to look like we're turning the corner on Covid-19, and as always, the market is overreacting. This is not actually going to be a smooth recovery though.

We have depression-level unemployment. Sure, it won't stay at this level, but it won't be 3.5% either. The market should be down a solid 30% (normal recession levels). The fact it's not is mind-boggling. It completely shrugs off all economic news. None of the jobless claims reports had any impact. It went up when Q1 GDP fell more than projected. I wonder if there are a lot of white collar workers sitting at home right now with nothing better to do than to day trade. At some point, they'll go back to work, and with them goes the demand for stocks.

I made 4% in one day on that short by the way. Got rid of the position. Holding anything long-term right now is lunacy.