QQQ The March to 500

From an article


“I have the belief that there’s a time to make money and there’s a time not to make money… and there’s an easy time to make money and there’s a hard time to make money,” Johnson said. “This to me feels like a harder time to make money because everybody’s chasing the same handful of stocks and when that sort of party ends, it’s going to be painful.”

NVIDIA Performance: NVIDIA Corp NVDA has had a banner year in 2024, crossing the $3 trillion market cap mark while appreciating over 140%. Johnson believes that now, while the stock is in “bubble-ish territory,” could be a good time to take profits on its performance.

“I don’t need to be overly greedy on a stock that has clearly gone parabolic. It doesn’t mean that it’s over yet, but everybody has the same approach out there, which is, ‘I am going to wait until things roll over and then I’m going to sell. I’m going to be watching this and I’ll be able to get out before everybody else does.’ It really doesn’t work that way. When the selling starts, people don’t want to sell… they keep saying that all the way back down
 
Laissez Faire said:
... this is the most hated bull market he's ever seen ...
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Because people are angry they didn't buy and keep waiting for a pullback that doesn't come... while a bunch of know-nothing punks (from their point of view) keep making the easiest money they've ever made...

I myself am a bit pissed off I didn't buy more :D
 
Laissez Faire said:
I think the key point was that in 1999 everyone was involved in the stock market somehow and there was broad participation. If that was the case today, surely people would be talking about it non-stop both on X and in real life.
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I remember 1999 (I was not trading, though) and NO ONE was buying "dog money" and similar turds. Now all my run-of-the-mill college-educated father-with-kids friends are in this...


Good point about the passive investment.
 
Laissez Faire said:
"You don't want to be a contrarian to price. You want to be a contrarian to participation."

The market turns when everyone is long and the last short gave up as there's nobody left to buy.
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IMHO this applies more to very-very-large investors that cannot get out of their positions without moving the price and so they have to get out slowly and way in advance of price turning.
 
v-shape-0DTE said:
8 days to go in June. No red days at all this month. Largest red day was -0.41. I kid you not! 41 cents lmao.

Thing is up $20 in the past week and a whopping $42 since the fake drop on May 31st. Monthly gain of 7.62%

Only question:
Will we hit 500 in June or early July?
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Happy for you and these last few months have vindicated you - to a point - which is nice, considering how much crap some people gave you.

But make hay while the sun is shining and save for a rainy day.
 
Picaso said:
Because people are angry they didn't buy and keep waiting for a pullback that doesn't come... while a bunch of know-nothing punks (from their point of view) keep making the easiest money they've ever made...

I myself am a bit pissed off I didn't buy more :D
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I kmow of about 4 or 5 people who never even bothered to trade a stock in their life now trading ....they are trading mostly options and making money hand over fist.....one guy said he buys 1 or 2 option contracts on amd tsla and nvda. I said when it drops do you add in another contract or 2, he said he doesn't but then went onto say when it drops it always comes back up....

This other guy I know just started trading options in 2024 and turned his account from.12k to 55k. I saw the account and the trades, so I know he isn't making anything up. He literally just buys puts and calls on the same stock and strike price. He has a method that he just made up for himself and has been making alot of money...again these are all people who didn't know what a stock was until a year or 2 ago. They have never been in a downward market and only know stocks go up.
 
By the way avgo was interesting today....sold off came back slightly and then sold off into close near lows....wouldn't have expected that on such a strong day again for semis
 
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