Good morning everyone. It’s been a couple of days since I’ve posted Money Moves. Today, we’ve woken up to a significant selloff in the more speculative tech positions. TSLA, ARKK, and SQ all down multiple points mid day, resulting in my portfolio being down -1.66%. The big tech stocks gearing up to report earnings are down less than 1%. I would add more today, but I’m holding my cash position for bigger moves and more strategic entries besides a minor dip. So Tesla’s big news is the fatal two person crash in Austin, Texas which resulted in a four hour
Category: Thoughts on investing
Money Moves 4/14/2021 : Getting nervous yet?
Today was one of the rare days in recent memory where I was offline all day due to being away from my computer, and of course, we had to have a tech-led meltdown. Granted, this wasn’t a shock as we are due for a short-term pullback as the algo’s take automated profits after a certain amount of run-ups in the more speculative, future-thinking stocks like Square (SQ) and Tesla (TSLA). If i was writing automated trading logic, I’d do exactly the same thing. Unfortunately most of the time these execute, eerily all at once it seems, in some magic witching
Money Moves 4/13/2021 : Bitcoin pops through $60,000!
Watch out for that Bitcoin! It’s 10;15AM PST, and BTC is now steadily creeping higher at 63k. The big pop happened last night (my time) around 1AM, so it looks like some huge buy transactions in Asia broke the resistance. Since then, it’s been maintaining its upward climb. Will this move past 60k hold long term? Based on how its been behaving over the past few months, I believe so. I should have added more in the mid 50’s. Damn. The Nasdaq is up again, 0.66%, while my portfolio is up by 1.5%. Today’s a decent green day. No real
Money Moves Monday 4/12/21 : Intel freakouts and pickup
Markets basically flat as we head into earnings this week and buyers and automated trading programs are holding by before executing miliseconds after major earnings surprises with massive cash. Of course, we retail investors will see this as just one of those “up” days as tune into the market first thing in the morning because we aren’t cloud based supercomputing beasts and can only access the markets after all the major algorithems have already made their trades for the day. It’s about 3 hours before markets close, and I bought 442 shares of INTC today after NVDA announed their new
How to become a millionaire as fast as possible
Caveat: this is still basically a draft, pending fixes and cleanup… There is only one way I know of to build wealth fast when you are in your twenties. Many others will argue the best way to become a millionaire is to start a business. Here are the reasons why starting a business is not the most likely way you will become a millionaire. People start businesses because they are excited about the opportunity and their idea, and are motivated to succed in it. It means you need passion. If you start a business (e.g. new software) because you are
Money Moves Thursday 4/8/21: Disney+ ready to launch in South Korea and Taiwan
Currently almost 2PM EDT. Nasaq is up almost 1%, while my portfolio is up about 1.2%. Dow and S&P is pretty flat compared to Nasdaq, so lots of money going into growth plays today. Of course, something might happen and the algo’s might decide to sell off for typically mysterious reasons, but for now, I think we are slowly climbing back towards all time portfolio highs back in early February. It looks like bond yields are still floating around 1.6%, and has arguably detached from market movements in equities. That was the freakiest period of a month or so when
Is Daytrading a good way to build wealth?
I’ve considered getting into daytrading many times – jumping into thet training and education aspects of it, preparing mentally for short-term trading which requires a different mindset and habits. Daytrading works differently from passive or active investing. In fact, you can argue its not even remotely related. The decisions you make associated with your buys or sells are based on different reasons. So I would argue daytrading is closer to trading commodities like oranges or forex than investing in stocks. This is the main reason I have not pursued this “job”. I just don’t want to “go back to school”
My 3 Rules on Investing in Stocks
Never sell as a reaction to a drop If you wake up one day, and see that your stock pick has dropped, and you feel that shaky panic building up inside you while your mind screams “Cut losses now!”, then you are unfortunately too late. Of course there are always exceptions to the rule, but assuming you give in and consistently sell when things get tough, you will most definitely shrink your portfolio value over time. I would prefer to hold a stock for a long time and know I still have the same number of shares as when I
Money Moves Wednesday 4/7/21: Buy more Tesla and FAANG
Big tech stocks with good valuations and strong growing earnings are again building momentum. Tesla and more speculative tech stocks are down. All Ark funds taking a hit today as they continue to see-saw. I think we are seeing the gradual transition from the heavy rotation into value stocks (financials, industrials, cyclicals) towards reasonably valued tech names that have been moving sideways for the past few months. If you’ve been patient with names like Amazon, Facebook, Microsoft, etc., then the price movements are here. My plan is to avoid stocks that have benefited from the huge volatility caused by the