Stocks plunge as weak jobs report, tech woes rattle Wall Street

[Unusual Tournament]

Nasdaq up 1%. Apple and Alphabet are down between .5 and 1%. The rest of the magnificent 7 all finished in a healthy green afterglow. The show rolls on

Edited August 7 by Unusual Tournament

[Tatetopa]

19 hours ago, acidhead said:

The stock market plunged on the fear Trump might be re-elected then it bounced back after the Harris Walz rally.

[preacherman76]

5 hours ago, Unusual Tournament said:

Not XRP. Ripple is a scam and I would stay well away from it. The others I haven’t researched. Generally I do not think highly of crypto. 

Says who? You’ve been listening to Bitcoin maxi’s. Ripple is the most transparent block chain. They have led the way in forcing new regulations. The entire crypto market owes Ripple big. Spent hundreds of millions fighting and beating the SEC. They haven’t even been accused of fraud or any type of scam by any regulatory body. 
 

NTM they have by far the most agreements with damn near every major financial institution on the planet. 
 

XRP is going to be king of crypto. 

[Unusual Tournament]

[Gromdor]

6 hours ago, preacherman76 said:

Says who? You’ve been listening to Bitcoin maxi’s. Ripple is the most transparent block chain. They have led the way in forcing new regulations. The entire crypto market owes Ripple big. Spent hundreds of millions fighting and beating the SEC. They haven’t even been accused of fraud or any type of scam by any regulatory body. 
 

NTM they have by far the most agreements with damn near every major financial institution on the planet. 
 

XRP is going to be king of crypto. 

Sadly, XRP has been hovering around the 50 cent range since we talked about it a few years back.  The SEC thing might be finally settling but now they are running across the problem of being one of the e-currencies that HAMAS is using to fund itself. Who funds Hamas? A global network of crypto, cash and charities | Reuters

 

[+DieChecker]

Myself... I just go with mutual funds. Less return, but much lower volatility. I'd go with real estate too.  Ive always made out well on real estate.

[Gromdor]

17 hours ago, preacherman76 said:

Says who? You’ve been listening to Bitcoin maxi’s. Ripple is the most transparent block chain. They have led the way in forcing new regulations. The entire crypto market owes Ripple big. Spent hundreds of millions fighting and beating the SEC. They haven’t even been accused of fraud or any type of scam by any regulatory body. 
 

NTM they have by far the most agreements with damn near every major financial institution on the planet. 
 

XRP is going to be king of crypto. 

Ooh. News about XRP today and it is mostly positive: Ripple-SEC case finally ends – XRP is NOT a security (msn.com)

[jmccr8]

The thing I don't trust about bitcoin is all the 30 something women that text me under false pretense thinking I some fool trying to weasle me into putting coin in their purse. 

[Unusual Tournament]

20 hours ago, jmccr8 said:

The thing I don't trust about bitcoin is all the 30 something women that text me under false pretense thinking I some fool trying to weasle me into putting coin in their purse. 

You underestimate yourself. Throw caution to the wind and embrace loves true happiness 

[jmccr8]

14 minutes ago, Unusual Tournament said:

You underestimate yourself. Throw caution to the wind and embrace loves true happiness 

HI UT

Yeah believe me all they want is money. I let them talk a bit, at first it's just looking to talk then they start in with bitcoin. I've known lots of schemes and players over the years so am skeptical right from the start. 

To be fair have been single for more than 40 years and enjoy my life as it is and doing as I please. 

[godnodog]

I blame Biden and Kamala for the Intel cpu fiasco, and also the AI bubble, and now AMD RYZEN 5 fiasco, and the BMW stonk price falling, and the Japnese rising interest rates. 

I also blame B&K for no custard cakes in the bakery.

None of this would have happened under Trump because he's a genius and most intelligent....

[+DieChecker]

I keep seeing articles on how if you buy Nividia (or AMD, or TSMC), that the "AI Boom" will make you rich. 

Who'd invest in this?

Or this...

All tech stocks are down.

Nividia keeos crowing about that 50% gain over the last 6 months, but wont mention how it has lost 25% over the last 2 months.

Invest in stable stuff, and than in tech when we actually see some real growth, and reason to invest.

I dont think any one is better than the others. Theyre all following that same trend. All peaked a couple months ago and trending down now.

[godnodog]

4 hours ago, DieChecker said:

I keep seeing articles on how if you buy Nividia (or AMD, or TSMC), that the "AI Boom" will make you rich. 

Who'd invest in this?

Or this...

All tech stocks are down.

Nividia keeos crowing about that 50% gain over the last 6 months, but wont mention how it has lost 25% over the last 2 months.

Invest in stable stuff, and than in tech when we actually see some real growth, and reason to invest.

I dont think any one is better than the others. Theyre all following that same trend. All peaked a couple months ago and trending down now.

mostly people betting on AI, I'm not saying they're wrong, it's just too soon to see where this is going, upcoming legal ramifications and how consumers will react. 

AI investors bandwagon keep forgetting that general end consumer is human, and if they don't have a job then no revenue no consumption, I am betting a lot of people will begin to boycott products and companies that rely heavily on AI at the expense of human workers, not every thing/product but obviously ones that can be done and have been done by humans, this is not the same as industrialization or robotization.

Edited August 9 by godnodog

[Unusual Tournament]

6 hours ago, DieChecker said:

I keep seeing articles on how if you buy Nividia (or AMD, or TSMC), that the "AI Boom" will make you rich. 

Who'd invest in this?

Or this...

All tech stocks are down.

Nividia keeos crowing about that 50% gain over the last 6 months, but wont mention how it has lost 25% over the last 2 months.

Invest in stable stuff, and than in tech when we actually see some real growth, and reason to invest.

I dont think any one is better than the others. Theyre all following that same trend. All peaked a couple months ago and trending down now.

The metrics I concentrate on are market capitalisation and earnings ratio. 

[preacherman76]

On 8/7/2024 at 8:19 PM, Gromdor said:

Ooh. News about XRP today and it is mostly positive: Ripple-SEC case finally ends – XRP is NOT a security (msn.com)

Yes Sir. Couple big obstacles to go and this thing is gonna take off. 

[+DieChecker]

So....... Nividia beat expectations on all scores... Yet...

https://www.reuters.com/markets/nvidia-chip-index-tumble-investors-pause-ai-rally-2024-09-03/

Quote

Shares of AI heavyweight Nvidia (NVDA.O), opens new tab tumbled 9.5% on Tuesday in the deepest ever single-day decline in market value for a U.S. company...

Nvidia lost $279 billion in market capitalization...

Remember when stocks would inch up a full percent over a month and people would be excited?

Computers have allowed the stock market to be so volatile, and opinion based, rather than value based.

It is funny to me beacuse the Nividia CEO was doing SOOOOOO MUCH smack talking just a couple weeks ago.

[Edumakated]

13 minutes ago, DieChecker said:

So....... Nividia beat expectations on all scores... Yet...

https://www.reuters.com/markets/nvidia-chip-index-tumble-investors-pause-ai-rally-2024-09-03/

Remember when stocks would inch up a full percent over a month and people would be excited?

Computers have allowed the stock market to be so volatile, and opinion based, rather than value based.

It is funny to me beacuse the Nividia CEO was doing SOOOOOO MUCH smack talking just a couple weeks ago.

There is always a lot of volatility in high growth companies.  Small time investors need to hold for the long term.  It is the large institutional traders trying to eke out small profits that cause the day to day volatility.   Over time, the small guy will do very well just dollar cost averaging ignoring the swings.

I do think an issue is that market information is in real time 24/7.  You no longer have to look at the print newspaper to see how your stocks are doing, nor call a broker to make trades.  I think this leads to a lot of small time investors panic selling because market is down.  A down market doesn't mean anything if you don't sell.  It is just a paper loss.  

People seem to forget that companies like Apple were almost bankrupt at one point.  Facebook.  Amazon.  A lot of these stocks have down periods but the people that bought and held on have done very well over the long haul.

We have a fairly sizable position in Nvidia before the split...  figure we will hold it probably 10 years.

[Gromdor]

35 minutes ago, DieChecker said:

So....... Nividia beat expectations on all scores... Yet...

https://www.reuters.com/markets/nvidia-chip-index-tumble-investors-pause-ai-rally-2024-09-03/

Remember when stocks would inch up a full percent over a month and people would be excited?

Computers have allowed the stock market to be so volatile, and opinion based, rather than value based.

It is funny to me beacuse the Nividia CEO was doing SOOOOOO MUCH smack talking just a couple weeks ago.

Stocks have always been opinion/emotion based rather than pure performance.  Take Truth social for instance (not to pick on Trump, but because it is a perfect example).  It's performance is terrible and it hemmorages money, but people invested in it.

[Edumakated]

22 minutes ago, Gromdor said:

Stocks have always been opinion/emotion based rather than pure performance.  Take Truth social for instance (not to pick on Trump, but because it is a perfect example).  It's performance is terrible and it hemmorages money, but people invested in it.

Emotion and speculation.  However, there are some fundamental metrics.  Regardless, over time the markets return about 10% a year.  So typical investor is best just dollar cost averaging for the long term indexing.  Picking individual winners and losers is a lot riskier but can offer much higher returns.