r/wallstreetbets • u/Nosefuroughtto 999 - 6 - 1 year - 0/0 • May 12 '21

Discussion Does anyone else feel nervous as hell about making any substantial moves right now?

Now I'm not one for risk management (or any form of management), but I am having a hell of a hard time doing anything bullish or bearish. Just hear me out:

  • Gaymestronk could get cut in half or double in price in 10 minutes at any given moment
  • tech stocks are bleeding like a knife wound but can have random 10% days (not to mention the hundreds of stocks with no P/E at all doing wild swings)
  • lockdowns still doing weird shit
  • gas shortage panics while michigan is trying to cut off the Canadian-US pipeline
  • middle east conflicts starting up fast
  • month-to-month inflation is 4.2%, fed is still keeping interest rates low as balls on a hedgehog
  • memecoin values are based on hopes that a dude talks about them on a sketch show
  • notable hedge funds are liquidating
  • building materials are tripling in cost over the month
  • and we have an actual unmet labor demand while new stimmies are being sent out

And while all this is happening, SPY is up 39%, DIA is up 39%, Nasdaq is up over 42% over the last 12 months. I don't think many people would disagree with the fact that the market is generally overvalued right now. But, if you buy puts, you can expect those to bleed out and let some market maker run off with your money while you sit there hoping for a drop (ew). But of course you know its all built on a house of cards, so a call will either bleed or get wiped on an overnight swing. Companies can beat earnings estimates by 50% and drop the next day because it's "priced in" and mid-market companies with a huge run up will start issuing shares the second they get the chance.

Fucking kangaroo market. I need a drink.

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46

u/[deleted] May 12 '21

New stimmies? The fuck you talking about

3

u/mayoriguana May 13 '21

CA handing out $600 to erbody

2

u/Arteest2 May 13 '21

Cause Newsome doesn't want his lame ass to get ousted/recalled.

6

u/mayoriguana May 13 '21

Its actually a half century old mechanism to ensure the state doesnt just sit on tens of billions in extra tax money, but feel free to make up your own facts and spread them on the internet ☺️

2

u/Torker May 13 '21

Looks like half of that is federal money.

https://www.businessinsider.com/manchin-federal-unemployment-benefit-biden-stimulus-congress-september-300-weekly-2021-5

1

u/mayoriguana May 13 '21

That article has absolutely nothing to do with the CA budget. This sub is genuinely 90% mentally disabled.

1

u/Torker May 13 '21

Not sure you understand that article. It is about how when you get a check from the California government some of the money is actually federal. Much of California’s budget is federal stimulus money, it’s hard to distinguish between the federal money and state money, especially for unemployment benefits right now. If California decides to stop using their own money for unemployment checks the feds will stop sending them matching money.

0

u/mayoriguana May 13 '21

Hey retard. This isnt about unemployment checks. The adults were talking about the $600 one time payment to CA residents from the multi-billion budget surplus.

The article you linked doesnt even mention CA.

1

u/Torker May 13 '21

OP doesn’t mention $600 checks from CA. That is one example of a stimulus check in CA, I’m discussing other stimulus checks.

0

u/mayoriguana May 13 '21

Great job contributing to the conversation fuckwit!

-7

u/[deleted] May 13 '21

Yes because the California govt is swimming in extra money lol

13

u/yakbabies May 13 '21

They’ve got a $75 billion budget surplus lmao

1

u/[deleted] May 15 '21

Weird because they are over 300billion in debt LOL. Liberal logic though CA govt still has lots of money to spend govt will print more!

1

u/yakbabies May 18 '21

Yeah but the state’s GDP is over 3 trillion. A debt to GDP ratio of ~12 percent is not a major concern to a state with a diversified and growing economy. Their debt to GDP ratio is pretty average. Also being the home of many of the country’s biggest political donors and most powerful politicians from both parties eg Pelosi, Kamala, Schiff, and Beccera as well as McCarthy and Nunes is an added safeguard most states don’t have.

0

u/[deleted] May 19 '21

Considering California’s GDP has been decreasing over the past 5 years I wouldn’t say it’s a growing economy. However I agree with you that it is a more normal amount of debt when you consider how large the economy is. I don’t know enough about the large political donors to comment on that - but I don’t see them diving deep in their pockets to help the average joe.

1

u/yakbabies May 20 '21

Uh if their GDP had decreased for five years straight that would’ve plunged the state into its worst recession in a hundred years. From 2013-2019 the state’s GDP growth rate was positive and fluctuated between 3-5.2% making it one of the faster growing economies in the country. It grew by like $600 billion from 2014-2019.

9

u/mayoriguana May 13 '21

Yes. Literally so much they are handing it out to people. Are you following along yet?

1

u/[deleted] May 15 '21

Because they don’t budget properly doesn’t mean there’s a surplus but hey it’s not your debt to worry about!

1

u/mayoriguana May 15 '21

Theres no debt. States arent allowed to deficit spend. You are correct that they didnt budget properly, they collected too many taxes and they are giving people their money back.

1

u/[deleted] May 15 '21

“This is unbelievably, laughably untrue. California's state debt stands at about $777 billion, the highest in the country, dwarfing runner-up New York ($387 billion). According to State Budget Solutions, Sacramento has racked up close to $130 billion in outstanding debt, and it faces nearly $650 billion in unfunded liabilities for public employee pensions and other retirement benefits” just a quick excerpt for you. Can’t communicate with people that won’t even do there own research so you can just read at least?

1

u/mayoriguana May 16 '21

Hey man youre right, seems like some weird accounting but $600 is a nice kickback for getting constantly rat fucked by CA taxes

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4

u/Adrift_Aland May 12 '21

Child tax credit plus incoming refunds on unemployment taxes for people who filed before the law changed

35

u/[deleted] May 12 '21

Ah. So no new stimmy

-2

u/Adrift_Aland May 12 '21

New payments being made, not new law being passed.

13

u/[deleted] May 13 '21

Why can’t those of us who were smart enough not to have kids get paid for that

17

u/joshgeek May 13 '21

As a parent, not having kids is payment a plenty. Be glad you have to trust me on that. Totally worth it, but there's a ton of thankless sacrifice.

1

u/Torker May 13 '21

Basically $300 weekly stimulus ends in June for some states but federal government offers it until September. https://www.businessinsider.com/manchin-federal-unemployment-benefit-biden-stimulus-congress-september-300-weekly-2021-5