Discussion in 'General Open Forum' started by Floater, Nov 28, 2017.
Me no understand...... SHOW ME THE MONEY!!!!
Maybe this will help.
Here is another one.
Well-- my head started to hurt at the 10 min mark... Thanks for trying to edumakate this old guy Gil LOL!!
Bre-X also had a great run and made some people lots of money. Rest assured this fad is going to redistribute some wealth and debt when it collapses.
It is not Bitcoin you need to concern yourself with. That ship has left the dock and sailed far away.
It is the underlying tech ie: Blockchain tech
This is what you will be hearing about next year.
Blockchain will be supporting almost everything concerned with day to day IT security.
Canada has a few early days Blockchain companies that are good speculative investments currently.
You maybe right about it causing some tears, no one knows.
The Bre-X conflation is laughable, one was a junior Gold miner that was faking drill results, the other is a brand new technology that serves a demand for wealth storage among the massive new group of Millennial investors that find it attractive.
For anyone to buy at these levels, you must have a strong stomach and willing to take a hit.
If we must look back to history to speculate on the future, I can see the tree getting shook hard to get rid of some of these late buyers and some old longs to cash in some profits. Now BTC is trading on Futures exchanges, it will allow some large money boys to get involved and they dont chase price (thats the retail sector buying the top), they support price.
BTC could fall to $8000 and still be in an uptrend.
the speculation right now is insane in the US - thats where the huge moves are (and this is just over the last week)
(barely scratching surface of how insane it is...way bigger % gains than crypto/btc trading and you don't have to stay awake at night to trade! ha)
If you can't explain your investment in 2 easy to understand sentences then you don't understand what your money is doing and --REALLY- neither do you!!
Well, i guess when research firms spend millions putting out reports on sectors/individual stocks they really dont know what they are doing. In many cases that may be correct.
SF, in 2009 the US markets found their bottom after the crash, and for 7-8 years now the majority on pundits have been calling for a crash. Before the election down south, the calls for a Trump election crash were the loudest, yet it has moved from 18k to 24k.
What im saying is, we can all sit around trying to sound smart about this, but in reality it doesnt matter what you think, it matters what the price action says.
The crypto world was a clear buy late last year, even though the calls that it would crash were loud. Still those "smart" guys are calling for a crash, yet it keeps marching higher.
Its a little like fishing. We have all sat around hearing the guys talk this and that about what gear they like, how deep, etc etc, but some other guys just catch fish.
Opinions dont mean crap, results do.
Absolutely-have a hunch-bet a bunch---sleep in the streets!! There have been many bubbles in the market-tulip bubble; dot.com etc etc. there was tons of money made and lost on all of them. The early guys who promoted it usually made money-when everyone heard about it and wanted in on the action-the crash came and it was usually the little guy who got hurt. Money is like energy-it never disappears it just resurfaces as another form or in the case of money-redistributed. In the case of Bre-X which was a fraud on massive proportions-no actual money was lost-it was redistributed. Do I understand Bitcoin--a little-do I understand the market-yes I do -and I understand that BITCOIN is in dangerous territory for anyone who really doesn't understand it. Will it crash before it becomes the currency of choice-who knows- but until I can buy a downrigger or a boat with it-at these levels-I'm sitting this one out and All I can say is a poor para phrase of Rudyard Kipling's " You are a braver man than I Gunga Dinh"
On a side note, if whoever has been managing your portfolio hasnt gotten you double digit returns over the last few years. Fire him. They are basically useless.
Smart/Big money doesnt chase price, it tends to support it on corrections.
Personally I would wait to see how it acts in a major shake down to see where the strong hands are. At this point, around the $8k USD is a good line in the sand and its waaay below current levels.
It has been a stellar few years for sure and the returns have been great but I for one am getting very nervous and am starting to lighten up-my take only-timing the market is almost impossible to do and I may regret it but I certainly don't mind leaving some on the table for the next guy!! LOL
With 5 dollar trades and ETF”s why would u have someone manage your assests.
I pay less the a few hundred bucks annually in fees rebalancing my portfolio.
If you don’t want to pick stocks then ETF with low MER that just track the market.
If this tax plan gets passed in the US, the DOW has no ceiling.
The last run up over this year has been in anticipation of a good plan being passed, so it may get ugly if congress fails, again, to get their butts into gear and do their freakin job.
This is just my opinion though, which I've said previously doesnt mean shit. Taking some profits off the table may help you sleep, but nothing at this point says to do so.
Fishing must be poor right now as all we can get to discuss is BITCOIN-I'm going fishing tomorrow-to hell with it!!LOL
To do that though, you need at least some simple charting skills that can let you know when to act. Otherwise its that pesky ego/opinion making your decsions. No market goes up forever
I have played the bitcoin in a small way thru the bitcoin trust, trading symbol GBTC:US, it's the easiest way to do it but it does trade at a premium to bitcoin itself, I bought some a couple of months ago( put just under 7k of mad money into it) I took about a triple of my original investment off the table early last week and am riding the rest, will probably sell sometime this week. I certainly wouldn't buy this now at these prices. couldn't resist dabbling a wee bit in it though, lol.
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