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  1. #17151
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    Who else bought Tesla?

    Trade of the yr.

  2. #17152
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    Quote Originally Posted by Cono Este View Post
    Who else bought Tesla?

    Trade of the yr.
    Around the 120s then gritted my teeth as it looked sub 100s. It's a bit of a blowoff top right now. Am debating selling some or adding if it dips back to 140s. Not sure what to do tbh as I'm always concerned about Elon's fat mouth

    Still playing dividend covered call adds as the core portfolio for the most part
    - T is back at my buy point
    - Added MSFT
    - Added AMZN
    - Added IRM
    - Added TTD in hope it can be a core long
    - Added SNAP short

    Started small short position on BZFD via call straddles

    Failed to repurchase XOM much to chagrin
    Failed to short BBBY

    Sidenote - RSX the Russian ETF I shorted has been marked to sub $ 1 on the portfolio. A paper win but a win nonetheless

  3. #17153
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    Quote Originally Posted by LeeLau View Post
    Around the 120s then gritted my teeth as it looked sub 100s. It's a bit of a blowoff top right now. Am debating selling some or adding if it dips back to 140s. Not sure what to do tbh as I'm always concerned about Elon's fat mouth

    Still playing dividend covered call adds as the core portfolio for the most part
    - T is back at my buy point
    - Added MSFT
    - Added AMZN
    - Added IRM
    - Added TTD in hope it can be a core long
    - Added SNAP short

    Started small short position on BZFD via call straddles

    Failed to repurchase XOM much to chagrin
    Failed to short BBBY

    Sidenote - RSX the Russian ETF I shorted has been marked to sub $ 1 on the portfolio. A paper win but a win nonetheless
    Ate shit on bbby puts- was about a week early

    Loaded up on AMZN in the mid80s a few weeks back, as well as MSFT and META. You think these have legs or is this a fake run up?

  4. #17154
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    I’m holding Tesla until 1000. I may be dead by then, or we may be living underground, probably both.

  5. #17155
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    doing the same with pltr
    Decisions Decisions

  6. #17156
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    Quote Originally Posted by JimmyCarter View Post
    Ate shit on bbby puts- was about a week early

    Loaded up on AMZN in the mid80s a few weeks back, as well as MSFT and META. You think these have legs or is this a fake run up?
    I believe MSFT and AMZN have legs beyond a "tech-bump" as I feel those two have unfair competitive quasi-oligopoly characteristics and large defensive cash hoards.

    No feel for META as Im so pre disposed to disliking it that Im self disqualified from assessing it as a long. Sold covered calls against TSLA today at 170. Probably too early

  7. #17157
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    Quote Originally Posted by LeeLau View Post
    I believe MSFT and AMZN have legs beyond a "tech-bump" as I feel those two have unfair competitive quasi-oligopoly characteristics and large defensive cash hoards.

    No feel for META as Im so pre disposed to disliking it that Im self disqualified from assessing it as a long. Sold covered calls against TSLA today at 170. Probably too early
    Today looked like a good spot to unload some. 180ish. Mine went into my sep ira so I’m leaving it alone. Will by more at 130.

  8. #17158
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    I need to understand something. Why does the Fed want to cool the job market and see unemployment go higher when people are hurting from inflation? It seems to me that more jobs, higher wages and companies in a stronger position to add hours rather than cutting hours to reduce payroll would help people. If it's about giving the stock market a boost, fuck that.

  9. #17159
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    Quote Originally Posted by gravitylover View Post
    I need to understand something. Why does the Fed want to cool the job market and see unemployment go higher when people are hurting from inflation? It seems to me that more jobs, higher wages and companies in a stronger position to add hours rather than cutting hours to reduce payroll would help people. If it's about giving the stock market a boost, fuck that.
    They have 2 mandates. Inflation and unemployment. Inflation is still much much higher than where they want it. Itís coming down but they want it down yesterday and donít want any recurrence. The way to cooling inflation is through cooling the job market.

    Many of them believe fed funds with a 5 handle are the way to do this. I agree, a 5 handle will do it but I also think sitting at 4.5 and letting it play out would do the job. But theyíre economists, Iím on an internet chat.

    So the other half of the coin (and mandate) is employment. Itís been very strong in the US. Claims are low. Openings are available. This is the ammo that allows the Fed to fight inflation so strongly. Unemployment goes to 4.5%, thatís still pretty low. And that may be the price we pay for getting inflation lower (since yes, people are hurting from that).

    Of course it could be higher than 4.5% but in their minds, they can fight that battle if/when it comes up. And thatíll mean inflation is likely way down
    Decisions Decisions

  10. #17160
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    But how does reducing wages, available jobs and putting people out of work help? FWIW a lot of those advertised jobs don't really exist. So many times it's companies wanting to look strong, "hey things are so good we need people!" but they're not actually hiring.

  11. #17161
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    In my first Economics class, the professor stated that everything relates back to supply and demand. Over simplified of course, and you have to think through the details of what is supply and demand, but it was a comment that has always stuck with me.

    In this case, the supply of money via jobs is too great, which creates excess cash for consumers. They freely spend, increasing demand, which raises prices (and inflation).

    This is obviously over simplified and coming from my Econ minor over 30yrs ago, so I'm sure someone else can improve on my explanation.

    Sent from my SM-S908U using Tapatalk

  12. #17162
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    Quote Originally Posted by gravitylover View Post
    But how does reducing wages, available jobs and putting people out of work help? FWIW a lot of those advertised jobs don't really exist. So many times it's companies wanting to look strong, "hey things are so good we need people!" but they're not actually hiring.
    You think the fed just checks the help wanted ads to gauge unemployment?

    Can you imagine how rising wages might work hand in hand with inflation? Barista team gets a $2hr raise because the coffee shop is worried about losing their employees to another coffee shop, and your Mocha Frappe Latte goes up a buck to cover their wage. But that barista still has to buy groceries that went up in price because the folks at General Mills also had to raise prices to afford to keep their employees.

  13. #17163
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    And a good chunk of inflation was in the housing market. It doesn't matter that the barista got a $1 raise when rents have climbed ~7%

  14. #17164
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    Quote Originally Posted by Ted Striker View Post
    A good chunk of inflation was in the housing market. It doesn't matter that the barista got a $1 raise when rents have climbed ~7%
    Well $1 could very well be that 7%. No idea what baristas make these days, but $1 is about 7% of $15 an hr. So realistically, it would be keeping up with the increased rents. I assume that rents will be headed down or leveling off as demand is decreased, potentially from STRs being converted back to LTRs due to a glut of STRs and increased regulations/incentives. But those are mostly local issues.

  15. #17165
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    And property values 30%.

  16. #17166
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    Quote Originally Posted by Brock Landers View Post
    The way to cooling inflation is through cooling the job market.
    Or, if we don't skip the basics: A way to cooling inflation is through cooling incomes.

    It seems like gravitylover is pointing out that, as we all know, another way is to increase production, and cutting jobs obviously reduces production. But the Fed only has the ability to adjust money so they're trying to cut demand instead.

    Like steering the car with one finger from the passenger seat?

  17. #17167
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    Donít forget we have to keep corporate profits high.

  18. #17168
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    I'm told constantly to get rid of my employees or cut back because they are a drain when you look at the numbers by the money man

    Employees are the greatest expense and drain on any business

    All these tech companies laying people off is more of cutting the bloat than anything proving all the slouches who do very little at work a wake up call to show your worth because your expendable

    The past couple years have been a win for employees flexible schedules work locations low wage earners are forcing the invisible hand of economics union growth etc

    The fed and the govt are controlled by corporations as well as the stock market mary Jane's craft store on main Street America is nothing to federal govt corporate America is losing by a hair right now and they want full control when employees have the upper hand its not good

    Hopefully in the next five years we will see anti trust regulations break up of monopolies

  19. #17169
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    Rents have already cooled. Zillow puts out data on rents that are more real-time. The cpi piece of shelter is longer term, so the cooling rents will eventually get baked into that metric (OER).
    Decisions Decisions

  20. #17170
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    Quote Originally Posted by fastfred View Post
    Hopefully in the next five years we will see anti trust regulations break up of monopolies
    Could such a thing happen?

    Maybe... nearly every industry is a monopoly including the industries with relatively recent monopoly breakups (telecom).

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    Quote Originally Posted by blurred
    skiing is hiking all day so that you can ski on shitty gear for 5 minutes.

  21. #17171
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    @NR yeah, that's my point. It's a wash at best. Our imaginary barista's housing is likely eating up that raise before they even get to the grocery store.

    Either way, inflation hurts poor people more than the wealthy. It prevents wage slaves from joining the asset class.

  22. #17172
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    Quote Originally Posted by Cono Este View Post
    Who else bought Tesla?

    Trade of the yr.
    Crazy how high TSLA has flown. It feels like it is too close to the sun and will get burned and fall crashing to the Earth in a epic, Icarusian flameout.
    "We don't beat the reaper by living longer, we beat the reaper by living well and living fully." - Randy Pausch

  23. #17173
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    Quote Originally Posted by Ted Striker View Post
    @NR yeah, that's my point. It's a wash at best. Our imaginary barista's housing is likely eating up that raise before they even get to the grocery store.

    Either way, inflation hurts poor people more than the wealthy. It prevents wage slaves from joining the asset class.
    Most of the income gains (maybe excluding recent history??) have been going to the top 1-10% of income earners.

    The barista has been in the hole in terms of wage gains for decades.

    I posted a question about demographics somewhere else here and got some useful responses /S but what I keep seeing thrown around is that we are seeing some structural changes in the availability of labor, willingness to have a two income household (raises labor supply, lowers labor wages) and now that the boomers are really getting going on retirement things are swinging towards labor and probably wonít normalize for at least a decade.

  24. #17174
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    TSLA scares me.

    RIVN I bought close to the bottom and would buy a little more of if it goes down again.
    Quote Originally Posted by blurred
    skiing is hiking all day so that you can ski on shitty gear for 5 minutes.

  25. #17175
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    So, effectively, make it more difficult for average folks to afford the things they want so they redirect their dollars to the things they need. Won't this raise the demand for the things they need thereby raising the prices for those things?

    People have already reduced their buying as evidenced by sales and bloated inventories. Miles driven by the trucking companies are way down, rents are dropping, home sales and new construction are down, layoffs at the high end are way up, hiring at the low end is nearly non-existent... Let's boost the markets!

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