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Dow closed at over 30,000 for first time ever. Is this legit?  Rate Topic 
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 Posted: Wed Nov 25th, 2020 06:53 pm
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Big Garea Fan

 

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One of these things is not like the others: 


Millions of Americans are unemployed
Country being hit hard by COVID
Small businesses struggling to survive
Dow closes at over 30,000 - its highest close ever

How can the stock market be doing so well while so many Americans are struggling? Is the stock market legit or is it just a big ponzi scheme?

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 Posted: Wed Nov 25th, 2020 06:59 pm
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kargol



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The stock market is not about what you think is good business, or what you think the value of things should be. It's what you think other people think the value of things should be. So it is potentially a bubble.



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 Posted: Wed Nov 25th, 2020 07:22 pm
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Married Jo



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All I know is I made a LOT of money the last 2 days on just 2 stocks in my Robinhood account...IDEX and FSR...IDEX I had gotten into a few weeks ago at .98 and sold it all at $4.70 yesterday...FSR was orignally SPAQ that I got into around $13 and today it's trading over $20...EV plays getting it done..



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 Posted: Sun Nov 29th, 2020 05:10 am
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Benlen



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Married Jo wrote: All I know is I made a LOT of money the last 2 days on just 2 stocks in my Robinhood account...IDEX and FSR...IDEX I had gotten into a few weeks ago at .98 and sold it all at $4.70 yesterday...FSR was orignally SPAQ that I got into around $13 and today it's trading over $20...EV plays getting it done..I bought Roku @68.00. Now its 275.00      NIO @ 32.00 Its 54.00 now     Zm @ 115.00 Its 470.00  now        DIS @ 105.00 Its 147.00 now
I'm loving it.

Last edited on Sun Nov 29th, 2020 05:11 am by Benlen



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 Posted: Sun Nov 29th, 2020 01:55 pm
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beejmi
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There's no shortage of naysayers on Youtube saying there is a BIG 'market correction' coming. Invest in gold, silver, precious metals, Bitcoin, etc.

I don't think it all makes sense either so maybe the naysayers are right this time

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 Posted: Sun Nov 29th, 2020 05:45 pm
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Benlen



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Probably will be a correction but I will be long gone by then.



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 Posted: Sun Nov 29th, 2020 05:53 pm
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Franchise
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Benlen wrote: Probably will be a correction but I will be long gone by then.

Chris Gardner over here; stock market wizard 

Last edited on Sun Nov 29th, 2020 05:58 pm by Franchise



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 Posted: Sun Nov 29th, 2020 06:11 pm
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Blazer
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beejmi wrote: There's no shortage of naysayers on Youtube saying there is a BIG 'market correction' coming. Invest in gold, silver, precious metals, Bitcoin, etc.

I don't think it all makes sense either so maybe the naysayers are right this time

Yeah, I was watching some dude from the U.K. last night talking about trouble on the horizon.  I’m not sure what to make of it all.  With the extra money we have every month, I’ve been putting more and more into my 401k rather than stowing it away in savings.  I feel like money sitting in savings right now with inflation is a negative.  This guy on YouTube is speculating about new world wide currency and banks converting your money into “bank stock” without your permission, which supposedly there’s a precedent for happening somewhere in Europe.  



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 Posted: Sun Nov 29th, 2020 06:14 pm
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Kriss
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Two things that are pushing up the numbers:

Low interest rates. People looking for somewhere to make their money make them more money are buying stocks because you can't make any money keeping your millions in the bank these days.

Tax cuts for the rich and corporations. Stock buy backs. Rich folks buying shares in their own businesses because they have so much money and don't know what to do with it.

It's obviously more complex then that, but a return to "normal" interest rates and/or a less 1%-friendly tax policy would see these numbers fall.



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 Posted: Sun Nov 29th, 2020 07:14 pm
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Franchise
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Blazer wrote: beejmi wrote: There's no shortage of naysayers on Youtube saying there is a BIG 'market correction' coming. Invest in gold, silver, precious metals, Bitcoin, etc.

I don't think it all makes sense either so maybe the naysayers are right this time

Yeah, I was watching some dude from the U.K. last night talking about trouble on the horizon.  I’m not sure what to make of it all.  With the extra money we have every month, I’ve been putting more and more into my 401k rather than stowing it away in savings.  I feel like money sitting in savings right now with inflation is a negative.  This guy on YouTube is speculating about new world wide currency and banks converting your money into “bank stock” without your permission, which supposedly there’s a precedent for happening somewhere in Europe.  


I’m investing in Clorox wipes 



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 Posted: Tue Dec 1st, 2020 03:08 am
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Benlen



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Franchise wrote: Blazer wrote: beejmi wrote: There's no shortage of naysayers on Youtube saying there is a BIG 'market correction' coming. Invest in gold, silver, precious metals, Bitcoin, etc.

I don't think it all makes sense either so maybe the naysayers are right this time

Yeah, I was watching some dude from the U.K. last night talking about trouble on the horizon.  I’m not sure what to make of it all.  With the extra money we have every month, I’ve been putting more and more into my 401k rather than stowing it away in savings.  I feel like money sitting in savings right now with inflation is a negative.  This guy on YouTube is speculating about new world wide currency and banks converting your money into “bank stock” without your permission, which supposedly there’s a precedent for happening somewhere in Europe.  


I’m investing in Clorox wipes 
A year ago CLX was 150. Closed today at 204.



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