MARKETS,Anybody even yet?

[FAA]

Bitcoin is so abstract that few investors actually own it. It would be irrelevant if it wasn’t for all the contagion its demise helps to precipitate.

[dinghy]

Bitcoin is so abstract that few investors actually own it. It would be irrelevant if it wasn’t for all the contagion its demise helps to precipitate.

It's about a 0.5 trillion market cap. (AAPL and MSFT are each around 2 trillion.) I think Bitcoin attracts a mix of investors. Hodlers prefer it to fiat because the supply is limited. Action junkies like the volatility and 24 hour trading. And the novelty appeals to youth.

If you blame Bitcoin for influencing stocks during the downturn, then you also have to credit it for the prior bull market achievements.

Tonight's stock futures are still grumpy from Friday. S&P -1.3%, QQQ -1.8.

DIS is now into double digits for the first time since the 2020 panic. Presumably for diversification, I hear the company is getting involved in grooming. Olds, maybe your kitty would like to go in for a spa day.

[dinghy]

Treasury yields are up, up and away. Market now believes a 75-bip hike is possible (almost probable) Wednesday. Year-end rate is now projected at either 3.25 or 3.5.

I'm not a believer. The market is obsessed with hot inflation, while ignoring the collapsing economy.

Black Monday is trending. Anything's possible today. Stocks could finish -6%, or +3%.

[billryan]

In June 2018, I bought an X-men 1 for $8700. With almost two full days left on the auction, it is currently at $37,300 and may break $50,000.
Meanwhile, bitcoin and crypto are melting ......

[dinghy]

I'm a day trader now. The GDXJ buy was about one hour before the sells.

I'll probably have another buy opportunity before session end.

Missed it by one session. GDXJ -7% today, so I'm buying again, plus other stuff. I suppose this is spillover from the crypto crash.

Already busted one brokerage account:

In June 2018, I bought an X-men 1 for $8700. With almost two full days left on the auction, it is currently at $37,300 and may break $50,000.
Meanwhile, bitcoin and crypto are melting ......

Nicely done. Today's market action looks like panic liquidation. Selling off because of inflation, but inflation stocks (e.g., energy) are ironically the worst performers.

[wildman49]

Only one person can stop this Jay Powell, if they don't stop raising rates this selling will not stop till markets hit zero

[dinghy]

Final damage, SPY -3.8%, QQQ -4.6%, TLT -3.2%, GDXJ -8.2%.

Bitcoin 23.4k, 2-year Treasury yield 3.34%.

I bought some stuff today, doing my best to run out of cash.

Bear of the day is David Rosenberg:

https://twitter.com/EconguyRosie/status ... 7127870466

"I don't know about anybody else, but this looks like a prelude to a crash. Get out of Dodge if you haven't already done so. It's not too late."

[wildman49]

Final damage, SPY -3.8%, QQQ -4.6%, TLT -3.2%, GDXJ -8.2%.

Bitcoin 23.4k, 2-year Treasury yield 3.34%.

I bought some stuff today, doing my best to run out of cash.

Bear of the day is David Rosenberg:

https://twitter.com/EconguyRosie/status ... 7127870466

"I don't know about anybody else, but this looks like a prelude to a crash. Get out of Dodge if you haven't already done so. It's not too late."

I agree 100% on crash market looking over the cliff right now, sell and get short

[Eduardo]

No way I'm getting out now and locking in the losses. Afraid I'm in this one for the long haul, though I don't expect a rebound to be anything like we've been used to now that the fed money is drying up. Could be a long wait. But definitely not selling. Looking for chances to buy soon but not a lot of cash on hand.

[FAA]

No way I'm getting out now and locking in the losses. Afraid I'm in this one for the long haul, though I don't expect a rebound anything like we've been used to now that fed money drying up. A long wait. But definitely not selling.
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Misery loves company. We're in the same boat. It's springing more leaks by the day. We made bad decisions months ago when we had a chance to just liquidate. Now it's daily torture and hoping for a chance to be stuck in a U shaped recovery when we finally hit bottom.