Still think TITNC3: Return of the Iceberg was peak

Saying what "the citizens should be doing" is tiptoeing close.

 

Is that how you would define wealthy?

 

If the citizens had half a brain among them and a desire to further their lot in life, they'd be petitioning for better education. But that's tough to do when your shift at the bolt factory just ended and you have to scurry off to your night job at the foundry.

 

You didnt answer the question. How does now-you compare to 20-years-ago you in income, net worth, and material possessions?

 

Not at all. My point was, is that on paper, I'm doing better than 90% of single income earners in the US, and I'm definitely not living in a mansion or flying on the top deck of the 747 on my way to Europe to overwinter.

 

This always confuses me: Do you think they're oppressed or idiots? Because this paragraph you just wrote is half advocacy and half contempt.

I personally think the citizens can decide for themselves what they want and wish to petition for. They don't need me to Daddy them.

 

20 years ago I was still in high school, so it's irrelevant. But lets use 10 years ago. Income: about the same. Some years better, some years worse. Sales baby.

Net worth: substantially higher. Material possessions, actually less than 10 years ago.

 

Both. That's why it's incredibly difficult for individuals born into subpar circumstances to realistically elevate themselves.

 

No, that is exactly the point. Lol.

 

Well, I mean I did have a part time W2 job 20 years ago if that's what you're getting at.

 

Interesting.

I'm willing to entertain that even people of modest intelligence are capable of knowing what they want better than strangers on the internet know what they want.

 

Precisely what I'm getting at.

 

You guys really chat it up here don't ya? I log on and there's 4 pages lol. Ya'll seem to be polite to each other though, that's certainly refreshing for an internet stock forum.

Anyway, I was gonna post this before the futures opened but got hung up messin' in the garden, I see they're slightly green, NQ, but what I was gonna post was I think tomorrow we might see a rally in tech. I bought 5 of Friday's $300 calls on the Q's, I got in at $5.31 with about 15 to regular close.

Friggin oil. I should have just stuck to the plan. I left quite a bit on the table by taking that quick profit on those puts so soon. They closed at $6.15. But whatever.

That sell-off at the end was brutal. I had several of today's $302 calls I bought earlier when QQQ was right at $298.80, $0.73 ---- rode those to zero. That was a stupid trade, I should have known better. I had a chance to get out too at near break even right before that drop. Point being, I felt pretty confident that the chart really wanted to go up. I'm pretty experienced trading the Q's. As in 1000's of hours of screen-time and just as many trades. So while that sell-off at the end there was certainly dissappointing, it wasn't totally unexpected. I may be wrong, but I think today's close, in tech at least, might have had a certain degree of capitulation. That's why I went ahead and bought those $300's for Friday.
We'll see. 3970 on SPX was an important level too. I haven't looked at the Russell in awhile, I should probably take a look. While it has little effect on the Q's, it can really be a harbinger of both tops and bottoms.

To the chit-chat in the previous pages regarding saving money at a young age, just as important as saving, is discipline in spending. I came up with 2 parents who were products of the Depression. My mother wouldn't throw a friggin plastic baggie away. I'm serious. We had to bring them home from school to be used the next day. I learned to half ass fix cars because when I was 16, no one was buying one for me, so all I could afford was a piece of junk with caddying money, and when it broke, if I wanted to go out and hit the streets on a Friday/Saturday night and it was broke down, guess what, I had to learn how to fix it.
Ditto college. 3 jobs. $15 every two weeks from mom to help me out. Paid for every penny of it myself. But that was normal! I wasn't alone. We were all like that. All my friends.
Today kids spend money without giving it a second thought. Door-dash? Starbux? Everything. It's ridiculous. It's stupid. And how many kids today can fix anything?
I'm not bad-mouthing our younger generation, but our culture has made it too easy to spend money. It's a lot easier to just use your phone to buy something for $700 than it is to pull out $700 in cold hard cash and give to the cashier. So while saving is very important, living frugally is too.
-jmho

Rants done.
g/l tomorrow all.
I'll probably check in.
Here's to the Q's!

Edit, well they were green when I started that. Oh well.

 

And again, my argument is there's a lot of poor dumb unintelligent bastards out there. It benefits all of us in society if we don't marginalize folks just because of the circumstances they were born into.

Education is the key. Yah there's still gonna be a bunch of dumb mofos around, but how many potential theoretical physicists and world class surgeons have we potentially lost because they had to work on the farm or in the shop to help pay the bills at home.

 

We get banned if we don't play within the rules lol

 

1,000’s of thousands is many many years. You mean thousands and thousands

 

My GF's grandparents are of the same era, and we brought home leftovers from Mother's day lunch in a soup container that was probably first purchased in 1982. They live in a $2m house overlooking the city.

Old habits die hard.

 

I always post first and then edit.
I just caught that too lol.
I don't know why, it just seems you can correct things better and see mistakes after you post

 

Reminder - Market keeps dropping and all you big time traders and stonk investors are gonna end up just like me, living outta your Tacomas parked down by the river, eatin’ potted meat spread on saltine crackers. Stay humble.

 

Make sure you bring it back.