Current Events > Stock Market General #46

(+) Yeah! (+)

I thought OPEC+ cutting 2 million bpd would have a bigger immediate impact than this, especially since estimates all week were 500k to 1 million max. At least GUSH is still having a green day though, hopefully other people got in with me when it was $114 a couple weeks ago!

and all the ENZC gains from today are gone. Was up like 14 percent at open. Heres hoping it stays green at least.

AngelsNAirwav3s posted...

I thought OPEC+ cutting 2 million bpd would have a bigger immediate impact than this, especially since estimates all week were 500k to 1 million max. At least GUSH is still having a green day though, hopefully other people got in with me when it was $114 a couple weeks ago!

I would have but I'm still skittish to leveraged funds. I'm riding civi though, so thank you for that one

Dat_Cracka_Jax posted...

I would have but I'm still skittish to leveraged funds. I'm riding civi though, so thank you for that one

Yeah CIVI is my long term hold, I am just sitting back and collecting the dividends. GUSH is a much shorter term, higher risk investment, I'll probably sell pretty soon again.

Hoping this rally lasts through next Wednesday when I go balls deep into sqqq before the cpi numbers

I might be more pessimist now than I was a few weeks ago.

Looking at august CPI data, pretty much everything increased except for energy. Energy was down about 5% for july and august, mainly driven by gasoline which was down 10% in august and 7 % in july.

Opec cutting production means gas prices are going to go up. (They cut the quota by 2mil but several countries weren't meeting quota to begin with, so the ACTUAL production cut is about 900k-1.1mil, somewhere in that range). And with the high demand in europe, that number is going to shoot up. We're going to see the highest gas prices ever this winter IMO.

And yes house prices are coming down but not nearly as fast as people think. House prices take months to go down and are still not at equilibrium.

The fundamental problem though is that wages are way up and unemployment is down. As long as that happens, demand will stay high, people will keep spending. Goldman Sachs says households have about 2 trillion still in excess savings just from the lockdowns, which is equivalent to 10% of GDP.

I still think the general public is too optimistic. Market will have ups and downs but like I've said many times, all we've seen so far is the market pricing in rate hikes. We haven't seen the actual effect of rate hikes. Businesses will start to trim fat to prepare for whats ahead. Winter is coming in '23.

Only in the rosiest of worlds will a mild rise in unemployment suffice to slow down price rises substantially. The worst of the fight to tame inflation is yet to come. - Economist Magazine

Bought more ENZC. Up to 20k ish shares. My average cost is now 11 cents, once I got that its all profit.

I tried googling around and I still don't get what ITV-1 is and how it works.

Seems like companies have alot of inventory that they are trying to offload. Already seeing crazy deals for durable goods.

I think this means people will keep spending thinking they need to grab this stuff now while prices are hot.

It will feedinflation

Dan_Haren- posted...

I tried googling around and I still don't get what ITV-1 is and how it works.

if you ask the ENZC twitter cult it's the cure for HIV that big pharma has been holding down for decades

littlebro07 posted...

if you ask the ENZC twitter cult it's the cure for HIV that big pharma has been holding down for decades

I see some trials started over a decade ago. I cant tell if its a vaccine or a treatment and how its used or what it targets or anything.

Dan_Haren- posted...

Opec cutting production means gas prices are going to go up. (They cut the quota by 2mil but several countries weren't meeting quota to begin with, so the ACTUAL production cut is about 900k-1.1mil, somewhere in that range). And with the high demand in europe, that number is going to shoot up. We're going to see the highest gas prices ever this winter IMO.

Depending on how oil prices react, I would not be surprised if OPEC does another big cut in November when they meet. They want $100+ oil, and they are going to get it. No one can really stop them anymore now that US Shale has thrown in the towel.

Weed stocks go brrrrrrrrrrr

With the President pardoning weed possession anybody still holding those?

Dan_Haren- posted...

Goldman Sachs says households have about 2 trillion still in excess savings

Wait so are we saving too much or spending too much? I need to know how it's the little guys fault

Simply too much money floating around in the economy still. It needs to be removed via destruction of value.