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CH1 said:
It's been an historic grind up....too many folks (me, LOF, almost everyone on the planet) were making shopping lists, looking for bargains on our favourite names.

Of course, the market did not oblige, so everyone scrambled to get back in.

It all feels like ages ago, but we still have almost 7 months to go in 2020.
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This is exactly it.

No one would've ever believed we'd drop to those March 23 lows, and when we did, it felt like it could just keep dropping to lord knows where, so we were too afraid to jump in. Uber at $13, banks down like 70%, literally every top name at least 50% off. Who could trust it wouldn't all keep falling with the news making it sound like we were all dead men walking. But then it went up from there, we all sort of realized we weren't going to die soon, and figured we should've known that, so when the market retests and falls below the March 23 lows, we were going to be brave and ready.

For all the talk of terrible financial data and unemployment and decimated earnings, the market said fuck off to all that and just kept recovering. And all the watching and thinking and planning for what to buy when we drop again turned out to have all been a waste of time. Naturally we're not totally out of the woods yet, but something insanely drastic would have to happen to get back to March 23 and thankfully CV doesn't seem to have what it takes. But its impact is felt, and the world will be changing coming out of this, so we'll need to see how far and how long this unemployment problem will go and how badly consumer spending will be hurt. Restaurants, airlines, and hotels are fucked for the foreseeable future. Everything else, we'll need to see how they weather the storm.
 
Preston said:
There is nothing scarier than buying in the face of absolutely terrifying levels of fear. Sometimes they don't work out (hello GUSH) but those are often the most profitable trades/decisions anyone makes. If it was easy and every decision was obvious (i.e. pandemic = stonks go down) everyone would make money in the stock market. That's not how it works.
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It really saddens me. We had an unbelievable opportunity to double, triple, quadruple our money in a month. And even though the fear of March was palpable as anything that's come before it, I think we're already all mostly forgetting the extent of the panic in that critical week when we look back. It takes a ton of guts to throw a substantial amount of cash at the market during chaos, but if it all happened again tomorrow, we'd all probably act in the same way and not go all in on it.
 
But now I find myself going back to something CH said a few days ago. At least I didn't panic to the next level where I decided to sell everything in the portfolio. Can't say the thought wasn't crossing my mind on at least a few of the holdings that I had a decent gain in still. Holding on though saw a huge bounceback which I think has me around even from where I was before CV. So I didn't really make anything, and have seen aside from one poor company, everything come back strong or stronger than before.
 
I know some pretty sharp minds that sold AAPL in the low 200s. In the end, it’s not all about smarts — there is a huge emotional component.

In this case, the fear of giving up the gains of the last decade weighed heavily on a lot of folks.

I occasionally feel a tinge of agony about missing the mega snap back rally — even though my RRSP is up 35% year to date. But since it hasn’t budged in 6 weeks, this year is feeling like a disaster.

So, yeah, perspective is paramount to combatting emotions. The other way to mitigate emotions is dollar cost averaging an allotted amount into SPY.
 
Preston said:
Great job. That's a nice W no matter how little you put in.
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Wasn't able to fill the order on Friday but thankfully got out this morning. Gonna stay away from the weed stocks for a bit. Exciting but man I have no read on what they are going to do. Going to stick to the boring stuff.
 
Yeah MJ sector is dead right now anyway. My only play is the GTII/CURA earnings coming up with GTII this week. After that I presume they'll all get crushed unless SPY continues to soar. Otherwise, yeah.. I'll be all cash by Friday most likely, maybe earlier, depending on a few things.
 
For all the dumbasses that invest in MJ, there really is terrific opportunity in the sector if you aren't dumb about it. Most of the pieces of shits have unreal volatility. Play it right and you'll do well ten times out of ten. Hold long and don't take profits and you'll be hurt.
 
Tech momo players hiding a lot of weakness. XLF (financials) are down over 2%... and not showing much of a bounce all day.
 
Last week I took a long position in $SLV on my US account as the first move I made on that account in ages. I typically just hold VTI and look away but I was very intrigued considering the blast off that gold got and the blast off that silver did not get. I got some early fireworks last week and today I'm seeing nice consolidation. It still feels cheap to me but then again, cheap is relative. Regardless, I'm happy to hold that one long. I think there's nice upside there.
 
The unlock is the best kept secret in stonks! I just sold my house and put the entire proceeds in a TRUL short!
 
Just took a quick look at his twitter account for the first time in months and fucking hell it's unbearable. Jesus Christ what a vomit of a personality.
 
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