When do the jabber heads say that this will happen? Next week? Or "sometime"?sweetandsour wrote: ↑10 Jun 2022, 12:57 The talking heads are saying SP will go to 3500. Earlier this week I sold the NVDA that I bought at 162, at 190. The NVDA I bought at 220 will just have to wait.
Next Wednesday is full of scary news: Retail Sales (a key metric of consumer behavior), also a closely watched poll of manufacturers and their outlook, and the Fed will announce their latest rate hike. The market has priced in an increase of "0.5%, possibly 0.75%." Plus, the Fed discloses their outlook for future rate hikes.
We could see the market fall off the bed and smash the floor. However, 3500 would be quite harmless for a low during this recession. There's a whole lot more "down" underneath there.
If we hit the max inflation rate and then live with it for 2 or 3 more years, then prices will keep going up at 8%+ per year. That's about 25% loss on our spending power before we get back on our feet. Plus unemployment will go up, with rolling electric power blackouts across the nation, and we haven't seen the gross impact on grocery prices yet due to drought, fuel costs, and fertilizer shortage.sweetandsour wrote: ↑10 Jun 2022, 12:57Re the new inflation number, Kramer (Cramer?) this morning said we're getting back into Carter country. Feds are saying inflation has peaked, but the big investors are saying "prove it". Lots of double talk going on, with the words "inflation", and "prices". "Inflation has peaked, but prices may not have peaked", I read somewhere.
We can still make money in the market, but there's going to be a lot of pain in everyone's lives.
You can buy cheap stocks from now until the recession ends, but you may have to be patient.sweetandsour wrote: ↑10 Jun 2022, 12:57Anyway, until I know better, I'll buy and sell with my play account. If NVDA goes below 160 Ill probably buy it back, again.
At our age, you should learn how to make money in minutes, days, and weeks.... rather than waiting years for a possible pay-off. The hardest part is discerning your own risk tolerance.