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Trying to time bottoms is very hard. If you believe in the company long term I feel this price is a very strong entry point long term. Set it and forget for a while. When it doubles....take your

I will make a wager. If this stock hits $420.69 before this earnings call on March 31st, I will pass out 100 FBG subscriptions to the gents in the stock thread.

sponks

3 hours ago, Wingnut said:

 

Gambler in me needed a fix, jumped in at $1.50 near close. 

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2 hours ago, BassNBrew said:

Many of those you have listed have turned to tech and overs have benefitted from the pandemic.  I can give you more utilities, energy, banks, etc that haven't come back.  I'll give you JPM.  Trading at a forward PE of 14 with a 2.4% dividend yield.  It's up 7% in a year.  Is that the definition of an over valued market that needs a major correction?

If we have a 10% correction, it will be heavily weighted toward tech and not the broader market.  SE will be trading at $100, FLGT at $50, SQ at $150.

We’ll just have to disagree here. You know what JPM’s total revenue growth for 3 years is? 8.5%. You know what AMZN’s is? 118%. Amazon is up 120% since 2018 and JPM is up 30%. It’s all relative to growth and potential. That’s a simple example but you can’t just say that JPM’s PE is 14 means that it should be worth a lot more. 8.5% revenue growth isn’t much at all. They are going to continue to get attacked by Fintech companies and yet as I said they are at all time highs compared to where they were at the beginning of 2020. You said the broader market hadn’t recovered but the Dow and S&P are well up from the beginning of 2020. JPM’s stock doesn’t go up 25-50% a year and likely never will again. Amazon just had a quarter with over 40% growth and more revenue than JPM has ever had in an entire year and JPM is worth almost 30% of Amazon so no, JPM is not “cheap” at all.

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I really can't believe SNAP is over 106B. I had 1000 shares at $5 when my kids were into it. Then they told me it wasn't cool and none of their friends used it anymore so I sold at $8 or $9. #$%&!!!!!!!! I'm not even sure I get their business model of catering to kids who have no purchasing power at all. Don't really regret not holding something I don't understand, but it's a "what could of been" stock.

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9 minutes ago, Capella said:

Ended up the day only down half a point. I’ll have some of my fancy plum wine to that tonight. 

I will never understand Florida.

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1 minute ago, ConstruxBoy said:

Down 1.09% even with MOGO, SPACs, PLTR, etc. 

Fun to see the three stocks I bought as "ballast" to my portfolio, USB, IRM, MDU, all up today. That's the way it's supposed to work. 

Also AMZN, the ultimate ballast stock, up today. Thanks Jeff!

I mean, thanks FishNChips!

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Just now, Capella said:

Lots of the worst people on earth, but the weather is perfect today and plum wine is delicious. 

I mean, you just described AZ, other than the last part completely shuking me.

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OK, another fidelity /trading question.  If I have extended hours trading enabled, will it execute my standing limit orders? Or do I have to re-enter the orders as extended hour orders? 

Thanks, and sorry. I haven't found the answer looking myself. 

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Just now, randall146 said:

OK, another fidelity /trading question.  If I have extended hours trading enabled, will it execute my standing limit orders? Or do I have to re-enter the orders as extended hour orders? 

Thanks, and sorry. I haven't found the answer looking myself. 

My experience is these close and end of day (Normal) so you would need a new extended hour trade.

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14 minutes ago, ConstruxBoy said:

Also AMZN, the ultimate ballast stock, up today. Thanks Jeff!

I mean, thanks FishNChips!

You’re doing it wrong. FishNBeer, good. CarpNTeriyaki, bad.

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12 minutes ago, randall146 said:

OK, another fidelity /trading question.  If I have extended hours trading enabled, will it execute my standing limit orders? Or do I have to re-enter the orders as extended hour orders? 

Thanks, and sorry. I haven't found the answer looking myself. 

I am 90% sure you'd have to re-enter them as extended hour orders.

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2 minutes ago, rick6668 said:

My experience is these close and end of day (Normal) so you would need a new extended hour trade.

The default is daylong, but you can set limit orders as instant, daylong, or open until filled (or canceled). 

So if I have a current, good until filled order to sell XYZ at $10,I'm wondering what happens if someone bids $10 after hours. 

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32 minutes ago, Capella said:

Ended up the day only down half a point. I’ll have some of my fancy plum wine to that tonight. 

Down under 2% and when the day started it was 7%, so I’ll call it a big win.

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Only down 0.74% in my long-term account, but 4% in my swing trading account which hurts.

Both were obviously much much worse at the lows.

Day trading account +15% though thank you WKHS.

I'm curious with market strength in the afternoon what tomorrow will look like.  If it gives people confidence to buy dips or if it was just a mirage.

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2 hours ago, FreeBaGeL said:

Possibly.  I've been saying for a long time now that everyone keeps mentioning the dot com bubble with this bubble, but they mis-apply that to stuff like GME and OTC stocks.

GME and OTC stocks are not the potential dot com bubble.  All these tech stocks are the potential dot com bubble.  ZM, FVRR, SE, FLGT, NIO, ETSY, OSTK, W, DOCU etc etc etc.  These stocks where when they pull back to "only" being up 800% in a year and trading at "only" a 4000x multiple they feel "safe" to us.

These are all stocks that have run up purely because "the world is changing" and we are speculating that not only will the world change exactly as we expect, but that these will be the winners in that new world.  Again this parallels directly to the dot com bubble because the whole theory behind that bubble building was the same.  "It's a new world". 

Lotta good that "new world" did for search engines not named Google.

I'm not saying it will happen, and I don't think this pullback we're in now is a bubble burst, but rather just a fairly standard correction after 6 weeks of going up.  But if the theories about a bubble are true and the bubble truly pops that pop will be a lot of these companies dropping 80%-90% and never coming back.

Just my $0.02.  I'm not saying it will happen, but I think people are mixing up the words "bubble" and "correction".  We've all been expecting a correction that we knew was eventually coming.  We are fearful of a bubble pop which may or may not ever come.  But if it does, it will be a LOT more painful than this.

Adding a couple pennies of my own:

If the Fed starts raising rates sharply, like they did prior the tech crash, then naturally a lot of these companies will take a valuation hit.  The specific businesses you list though are (mostly) real businesses that are growing sales at a very high rate. The underlying trends may slow down when the world really reopens, but I don't think they really reverse. 

When I think of bubbles I think the obvious one is crypto. Bitcoin is a speculative asset that will never have cash flows. It isn't going to be the medium of exchange. Companies are taking out debt to put it on their balance sheets. That is pure speculation.

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5 minutes ago, Capella said:

2500-3000 sq feet, good schools. Going quick around here though now. 

All of CA is moving to AZ.  One of my customers just sold.  Had 10 bids above asking within a week.:popcorn:

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41 minutes ago, Capella said:

Lots of the worst people on earth, but the weather is perfect today and plum wine is delicious. 

Interesting, I was certain the plum-wine part was a joke. It's really something delicious you drink for real? What's a decent one to try?

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2 minutes ago, KGB said:

All of CA is moving to AZ.  One of my customers just sold.  Had 10 bids above asking within a week.:popcorn:

Yea I could sell now for 30% above what I paid a few years ago. It’s crazy town. 

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1 minute ago, Nigel said:

Interesting, I was certain the plum-wine part was a joke. It's really something delicious you drink for real? What's a decent one to try?

https://www.tippsysake.com/products/hakutsuru-plum-sake?variant=17944234295355&currency=USD&gclid=Cj0KCQiA7NKBBhDBARIsAHbXCB475yNLXpu8-ALLQPMOqvlykCQ9I4zqqtoqUEpqOxpx5Tibrmk9FPoaAjqmEALw_wcB

 

Drinking this one now. It’s sweet, I have a glass after dinner. 

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8 minutes ago, Desert_Power said:

Adding a couple pennies of my own:

If the Fed starts raising rates sharply, like they did prior the tech crash, then naturally a lot of these companies will take a valuation hit.  The specific businesses you list though are (mostly) real businesses that are growing sales at a very high rate. The underlying trends may slow down when the world really reopens, but I don't think they really reverse. 

When I think of bubbles I think the obvious one is crypto. Bitcoin is a speculative asset that will never have cash flows. It isn't going to be the medium of exchange. Companies are taking out debt to put it on their balance sheets. That is pure speculation.

Aren't you speculating here?

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38 minutes ago, hooter311 said:

It's 2021 and I'm sure big tech is done for good.

Trade your computers for guns!

So true. Also, tech is a terrible word. It’s so ridiculously broad that it’s almost silly.

That said, I agree wholeheartedly. There is an expectation on stocks sometimes that they all “come back” and it’s always funny when you see Bezos’ comment about them going out of business taken out of context. The point is that some stuff goes away and new things take their place. What doesn’t happen is new innovations being replaced by old ones. Unless one of those apocalyptic scenarios happens, we won’t be going back to rotary phones or having to put a disc or tape in to watch a movie or go to a mall because we have to buy something or go to a bank to deposit a check. Innovative companies drive the biggest returns whether biotechs or restaurants or software or energy or semiconductors or car companies or whatever. Back in the 90s, no one would have ever thought Cisco, AOL, Dell and Intel would ever be also rans, but they are even though damn when they were hot back then they were hot.

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2 minutes ago, General Malaise said:

After today's beating I'm going to make myself drink prune wine and eat a urinal cake.  

Seems redundant.

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12 minutes ago, Desert_Power said:

Adding a couple pennies of my own:

If the Fed starts raising rates sharply, like they did prior the tech crash, then naturally a lot of these companies will take a valuation hit.  The specific businesses you list though are (mostly) real businesses that are growing sales at a very high rate. The underlying trends may slow down when the world really reopens, but I don't think they really reverse. 

When I think of bubbles I think the obvious one is crypto. Bitcoin is a speculative asset that will never have cash flows. It isn't going to be the medium of exchange. Companies are taking out debt to put it on their balance sheets. That is pure speculation.

I think this is interesting to assume that when the world opens up that these stocks will slow down. If the economy picks up, I am not sure why those companies wouldn’t potentially pick up as well. How many companies have put software projects or moving to the cloud on hold? How many people are sticking in their 9 to 5 jobs to have security right now? How many people are still struggling day to day and aren’t spending as much as they might next year? Will they take the money from their new job and run to the mall to spend it or just log on to Amazon or Shopee?

Some companies like Zoom owe a huge amount to people being locked up and maybe they won’t grow as fast becaus they already did, but companies that sell innovative products may be growing fast but they still may have potential clients holding off right now.

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26 minutes ago, Desert_Power said:

If the Fed starts raising rates sharply, like they did prior the tech crash, then naturally a lot of these companies will take a valuation hit.  The specific businesses you list though are (mostly) real businesses that are growing sales at a very high rate. The underlying trends may slow down when the world really reopens, but I don't think they really reverse. 

Of course they're real companies.  So were AOL, Yahoo, Netscape, AskJeeves, etc.

You could make a pretty reasonable case that something like Overstock should be worth 3 or 4 times what it was worth last year.  The problem is it is currently worth 100x what it was worth last year.  100x!

It's not worth 100x because their sales are 100x or even projected to be 100x in any of ours or our children's lifetimes, it's 100x because the market decided "OMG people are going to buy more stuff at home now quick everyone gobble up every online retailer stock or you're gonna miss it!!".

Overstock's business could 5x from where it was last year and it would still be horribly overvalued and have 90% downside from its "safe" $90 floor it just settled into after the pullback.

Again, I'm not saying this is going to happen, I am just saying this is what the bubble looks like if the bubble is real, imo.  The bubble is not a 20% correction that bounces back in 3 months (which granted, this "correction" is what I think we're in, not the bubble). The bubble is all of these companies ran on momentum and greed and eventually people realize that and race to gtfo of the netscape of online retailers or the AskJeeves of genetics.

ETA: With the dot com bubble the Nasdaq crashed 80% off its highs.  10 years later it was still down 50% off the dot com highs.

Edited by FreeBaGeL
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The bulls bought the bitcoin dip.

 

I'll feel a lot better if it can retain trillion dollars asset status at right around 54k.

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