Stock Market is tanking!

[LightRoasted]

For your consideration ...

To be fair, there is a renewed interest in domestic steel (and other building supplies) even if they are small, boutique type of operations. For all of the economic problems Trump started with his little vanity tariff project, it did cement the importance to shorten the supply chain on lots of things.

Tariffs still a terrible idea that didn't work, but some good can often come out of bad decisions.

Looking at Steel Dynamics long term stock chart, it appears they are being set up for a serious short selling positions. Though they have a low P/E, not sure on the amount of debt they carry, nor if any debt needs refinancing, which would be at higher rates.

 

[HemiHauler]

For your consideration ...



Looking at Steel Dynamics long term stock chart, it appears they are being set up for a serious short selling positions. Though they have a low P/E, not sure on the amount of debt they carry, nor if any debt needs refinancing, which would be at higher rates.

Possibly. To be fair, I got out a few months ago. The low P/E is encouraging, what given the absolutely insane valuations of some equities over the past 20 years. It's an anomaly in that regard.

2021 Annual Report here. Interest payments dropping. Superb cash flow situation. And look at the earnings jump from 2020 - 2021, a direct result of the shift to domestic suppliers for steel and other materials.

Issuu reader embeds

^^ that link takes you off their site (I'm always weary about that stuff), so you may prefer to use https://ir.steeldynamics.com/annual-reports/ and find the report for 2021. ^^

 

[CPUSA]

Too bad for you. You should have been managing your retirement a bit more intelligently.

I'm sitting back counting the GAINZ LOL.

You are so full of chit!!

You're sitting back, watching the GAIN wash your wife's boyfriend's draws, you pathetic little cuck!!

 

[OccamsRazor]

The obsession is going to become unhealthy.

 

[HemiHauler]

You are so full of chit!!

You're sitting back, watching the GAIN wash your wife's boyfriend's draws, you pathetic little cuck!!

Cucks give consent, the little boys you abuse don't

 

[Kinnakeet]

To be fair, there is a renewed interest in domestic steel (and other building supplies) even if they are small, boutique type of operations. For all of the economic problems Trump started with his little vanity tariff project, it did cement the importance to shorten the supply chain on lots of things.

Tariffs still a terrible idea that didn't work, but some good can often come out of bad decisions.

TRUMP potus big money record high closing in the stock market everyday just about
Dumb ass gets in office somehow we lose money everyday not just a little either

 

[CPUSA]

Cucks give consent, the little boys you abuse don't

You give consent, then head off to Piney Point...
Did the dog give you consent?

 

[HemiHauler]

TRUMP potus big money record high closing in the stock market everyday just about
Dumb ass gets in office somehow we lose money everyday not just a little either

8 TRILLION worth of deficit spending, home boy.

 

[PeoplesElbow]

To be fair, there is a renewed interest in domestic steel (and other building supplies) even if they are small, boutique type of operations. For all of the economic problems Trump started with his little vanity tariff project, it did cement the importance to shorten the supply chain on lots of things.

Tariffs still a terrible idea that didn't work, but some good can often come out of bad decisions.

I'll have to revisit steel, I've owned Nucor for a long time. Thought it was the only steel producer worth owning for a very long time.

 

[3CATSAILOR]

You're right. It is concerning.

If you remember, Trump did try to warn everyone.

 

[3CATSAILOR]

All of the key economic indicators say that we are months away from a recession. Things are just going to keep getting worst and worst.

This has been brewing for decades. Never-ending government spending topped by near-zero interest rates from the fed to keep the balloon from popping. The stock market and housing bubbles are the direct result of all that money they have been printing.

The reason the gov is trying to squeeze every last penny out of us in taxes is because they need the money to pay the interest on the debt. Between the massive national debt and increasing interest rates on that debt, they're in a tough place. Its kinda like maxing out your credit cards, as long as you can make the minimum monthly payment, you can keep the ship afloat.

Get out and go into T-Bills or Gov T-Bills Money Markets. After the bottom really falls out, you can start buying at bargain basement prices. Hopefully you've already hedged with some precious metals and maybe Bitcoin.

Finally, if you look at a chart for the SP500 going back decades you'll see that the price really started its higher than previously normal trend a few years after Nixon took us off of the gold standard.

The only good stocks I can see now and in particular the future are anything to do with weapons. Offensive and defensive. If China attacks Taiwan, we are in a war. China will then claim the money is due of what we owe them.. China is one of our enemies. But, for some reason in every corner of our Country you see advertisements of how great they are. All bought and paid for from the money we owe China. In the long run, this will cost our Country more than twice as much. I pray that it won't be in the flood of our Sons and Daughters.

 

[David]

Bit coin just tanked

It's all relative to what you paid for it. People who bought it at $10 or $400 are pretty happy after the tanking. Even people who bought it at $3000 or $10,000 are pretty happy. People who bought it at $50,000 may be a bit worried.

I had a chance a decade ago to buy BTC for a few dollars each. I was too cheap to throw $100 at it because the only way was to Paypal the money to some stranger and I thought it too risky. Prob would have 20 or so BTC today worth $400,000+.

I wouldn't sell everything and buy BTC, but the smart money is diversified these days, and I don't mean in the stock market. Even good stocks tank when the whole market panics. Diversified today means real estate; cash; gov bonds; precious metals; BTC/ETH...

The extremely wealthy buy things like valuable art. I still remember this one 60 Minutes story that ran decades ago. They were doing a story on some famous violinist. The host asked something like, how do you feel about having to spend so much for your Stradivarius violin. He answered, well, I paid $1 million for it and it is now worth $3 million.

 

[Gilligan]

It's all relative to what you paid for it. People who bought it at $10 or $400 are pretty happy after the tanking. Even people who bought it at $3000 or $10,000 are pretty happy. People who bought it at $50,000 may be a bit worried.

I had a chance a decade ago to buy BTC for a few dollars each. I was too cheap to throw $100 at it because the only way was to Paypal the money to some stranger and I thought it too risky. Prob would have 20 or so BTC today worth $400,000+.

I wouldn't sell everything and buy BTC, but the smart money is diversified these days, and I don't mean in the stock market. Even good stocks tank when the whole market panics. Diversified today means real estate; cash; gov bonds; precious metals; BTC/ETH...

The extremely wealthy buy things like valuable art. I still remember this one 60 Minutes story that ran decades ago. They were doing a story on some famous violinist. The host asked something like, how do you feel about having to spend so much for your Stradivarius violin. He answered, well, I paid $1 million for it and it is now worth $3 million.

I bought 66-77 Broncos for $1200 that I sold for 4-5 times that. And I screwed up by selling early...some of them were eventually worth 10-15 times what I paid for them. Timing...its everything..

 

[Kyle]

I bought 66-77 Broncos for $1200 that I sold for 4-5 times that. And I screwed up by selling early...some of them were eventually worth 10-15 times what I paid for them. Timing...its everything..

I’m expecting my copper, brass, and lead futures, will quintuple in the next few years.

 

[Gilligan]

I’m expecting my copper, brass, and lead futures, will quintuple in the next few years.

Huh. We must have the same investment advisors....

 

[PeoplesElbow]

Looks like we have us a bank failure now.

Largest bank failure since 2008: Silicon Valley Bank seized as depositors withdraw money

The Federal Deposit Insurance Corporation seized the assets of Silicon Valley Bank on Friday.

foxbaltimore.com

 

[Hessian]

Every month Joe Biden erases more of my retirement money. But the joke's on him - I've moved on to Plan B.

Want to give some more specific advice? Looks like retirement keeps going farther away for us.

 

[HemiHauler]

What to give some more specific advice? Looks like retirement keeps going farther away for us.

You could try and vote better. Failing that, Dubai is the new Switzerland.

 

[David]

Looks like we have us a bank failure now.

Largest bank failure since 2008: Silicon Valley Bank seized as depositors withdraw money

The Federal Deposit Insurance Corporation seized the assets of Silicon Valley Bank on Friday.

foxbaltimore.com

Not only that, Wells Fargo has major problems today. Many people showing no balance in their accounts, direct deposits not showing, people getting overdraft notices/charges. WF says they're working on it. They have been involved in so many nefarious activities in the past years, get the hell out and go with a local bank or credit union.

Wells Fargo glitch shows negative balances, missing direct deposits

Deposits are not showing up or have disappeared.

www.wsbtv.com

Some analysts theorizing that many people were pulling their savings out of the banks and putting them in high paying money market funds. (Vanguard Gov MM paying 4.51%). This forced banks to raise cash by selling their current Gov Bonds at a loss (the ones they bought in past years when rates where near 0%).

 

[David]

What to give some more specific advice? Looks like retirement keeps going farther away for us.

Many people moving to central America where you can live cheap, if you can deal with the culture shock. Of course, when word spreads, everyone will do it and ruin the whole gig. Kinda like those damned magazines that post lists of the 10 best places to live. Everyone rushes to move there and within 10 years, the place is a shithole like the one they moved from. Happening to Austin now.