Investment Thread

[Jeffrey]

(Or the terrible "she wants money" -- ugh)

Thanks for sparing us from the horrible fall. Bobby really blew it (for all of us!) when he pissed off Hunter and was only left with Barlow’s pen. Heaven help the fool who changed Hunter’s golden words.

[YmoBeThere]

Looks like a strong open to the market this morning after a strong May jobs number.

[bundabergdevil]

Looks like a strong open to the market this morning after a strong May jobs number.

Has there been a bigger gap between economist expectations and reported figures? Anticipated 7M decline, posted 2.5M gain? Heck of a swing.

[OldPhiKap]

Has there been a bigger gap between economist expectations and reported figures? Anticipated 7M decline, posted 2.5M gain? Heck of a swing.

Bloomberg this morning said it was the biggest miss between expectations and figures ever. They also want details on the numbers, and warned that the figure (like all figures) is subject to future revision.

Still, it appears to be good news in an otherwise bleak time.

[Jeffrey]

Bloomberg this morning said it was the biggest miss between expectations and figures ever. They also want details on the numbers, and warned that the figure (like all figures) is subject to future revision.

Still, it appears to be good news in an otherwise bleak time.

The Bureau of Labor Statistics has been wildly inconsistent and added a technical note to the jobs release today. In summary , the sample size of both establishment and the household reports was smaller than usual and the household survey team misclassified millions of unemployed as “employed, on temporary layoff” for a third consecutive month. In other words, the unemployment rate in April was reported at 14.8%, but was really 19.8%, and in May was reported as 13.3%, but was really 16.3%. Incompetence. Nevertheless, the gist of the report is convincing.

[PackMan97]

The Bureau of Labor Statistics has been wildly inconsistent and added a technical note to the jobs release today. In summary , the sample size of both establishment and the household reports was smaller than usual and the household survey team misclassified millions of unemployed as “employed, on temporary layoff” for a third consecutive month. In other words, the unemployment rate in April was reported at 14.8%, but was really 19.8%, and in May was reported as 13.3%, but was really 16.3%. Incompetence. Nevertheless, the gist of the report is convincing.

It seems like every administration finds new and creative ways to work the numbers in their favor. Thanks for the explanation.

[CrazyNotCrazie]

It seems like every administration finds new and creative ways to work the numbers in their favor. Thanks for the explanation.

This administration thinks that the late George Floyd would be really excited about the jobs report so we've got that going for us...

https://thehill.com/homenews/media/5...-carry-in-full

[Mtn.Devil.91.92.01.10.15]

This administration thinks that the late George Floyd would be really excited about the jobs report so we've got that going for us...

https://thehill.com/homenews/media/5...-carry-in-full

Yeah, just saw that. Hard to see that comment as anything other than tone deaf.

[elvis14]

Yeah, just saw that. Hard to see that comment as anything other than tone deaf.

So glad DT was able to let us know that today is great day for George Floyd because of a jobs report! smdh

I will say that it's a great day for my stock accounts (and I own a pitiful amount of stock but I don't mind seeing what little I have on the rise).

[Jeffrey]

It seems like every administration finds new and creative ways to work the numbers in their favor.

Many share your opinion. However, government incompetence is the reason.

“You can 100% discount the possibility that Trump got to the BLS. Not 98% discount, not 99.9% discount, but 100% discount,” tweeted Jason Furman, the former top economist for former president Barack Obama. “BLS has 2,400 career staff of enormous integrity and one political appointee with no scope to change this number.”

[YmoBeThere]

NASDAQ at all time highs? Bankrupt companies trading up 300% from 2-3 weeks ago? Someone mentioned market manipulation...

[Indoor66]

NASDAQ at all time highs? Bankrupt companies trading up 300% from 2-3 weeks ago? Someone mentioned market manipulation...

Maybe you should short some of them.

[YmoBeThere]

Maybe you should short some of them.

I did!!! At 2:16 PM.

[YmoBeThere]

Maybe you should short some of them.

I did!!! At 2:16 PM.

52982B42-8FB0-49C0-8A45-5A9D3736B9B5.jpg

[Indoor66]

Hope you win the bet.😎

[budwom]

If you're holding any Chesapeake Energy stock or bonds, you might want to make tonight's drink a triple:https://www.nytimes.com/2020/06/09/b...gtype=Homepage

Aubrey McClendon, of course, was a Duke grad (history major as many wildly smart people are)...Easy come, easy go...

[YmoBeThere]

Hope you win the bet.😎

Up 15% today.

[YmoBeThere]

Added an additional short today. Playing with very tight ranges on today's trades. I'm already up 25% percent on yesterday's trade. But will let that one run a bit.

[bundabergdevil]

If you're holding any Chesapeake Energy stock or bonds, you might want to make tonight's drink a triple:https://www.nytimes.com/2020/06/09/b...gtype=Homepage

Aubrey McClendon, of course, was a Duke grad (history major as many wildly smart people are)...Easy come, easy go...

He lived quite a hard and fast and risk-seeking lifestyle, from what I've read. IIRC, Duke tried to claim millions that Aubrey had pledged before his untimely death but ultimately withdrew the claim.

[elvis14]

Just playing around a bit, about 2 months ago I bought a handful of stocks that I thought were particularly low because of covid. Airlines, hotels, restaurants, etc. Note I spent very little money, just a couple of grand (kinda like Vegas, only put in what you can afford to lose). At this point, all the stocks except one is up. The one was Hertz. They declared bankruptcy and dropped to less than a dollar a share. Then suddenly this week they bounced all the way back up over $5 a share (it was showing a 92% increase for the day at one point). I sold the HTZ shares at a slight loss and with much happiness and confusion on my part. Couldn't believe that bounce. Now, everything I bought is up. Some a little some a lot. It's kinda fun.

Hope that a few months from now, some of these recover to be near where they were and I can sell and stop playing around. Just seemed like a good gamble to buy stocks that have dropped 50-75% quickly. I haven't played with stocks in 20 years (except my company stock that I get with my ESPP). The stock market being high right now feels like a house of cards to me. Honestly, I don't really know what I'm doing...but that adds to the fun :-)