Yes, that boomer tech sell off is an interesting theory. Market was due for a correction, but ngl was hoping this would come a bit later in March. My plans & portfolio has been getting wrecked the past couple weeks.
A bit shocked, really.
I asked myself, if I wasn’t in any of the stocks I follow right now, and saw the price, what would I think: “it could still trend down since the SPY could test 360 - 370. When that happens, I’d be stoked to buy the dip.”
Many of my speculative plays have done nothing but report good news for the past few months, only to get utterly hammered right now. The market drop is a combo of fear, people taking profit where they have it, EV stuff correcting so more can buy in, and retirees selling FAANG.
Lets face it, nothing is normal right now. Anyone with any faith in the ability of elected leaders to be anything other than willfully incompetent doesn’t have their head on right. Inflation IS happening. But I don’t think it will be anything astronomical - at least not for this year.
People have been out of work, but also have had record savings & fewer expenses. There’s pent up demand in the market (eventually) and I think with Texas and other large states completely opening their workforce, it’s only a matter of time. Regardless of personal economic situations, people WANT to get outside & spend money.
I know it’s difficult, we’re a black-pill prone type. But I think they’ll print and keep the charade going as more states open. By 22 or 23, who knows? We could see a total dollar collapse, more surveillance, more totalitarianism. But it seems the right is finally starting to stand up across the world. One thing about elite super villain plans - they always take forever to unfold. And they are more concerned with the obedience of easy to corral sheep, than outliers.
I’ll be enduring a bit of pain right now, but just to accommodate the sheer amount of cash that’s barely circulating across businesses now, the market will have to come back up. We will see paper gains. And we will see big numbers in the market, as daily goods, entertainment and raw materials prices increase to accommodate clown money.
At least for a year. Will be shocked if they don’t want to give Biden some sort of vaccine grand open victory lap before Lockdown 500, for total psychological torment.
AND - if they crash it, well... unless we make 1%er returns, we‘ll all be equally, equitably broke, owning nothing with KYC ID tracking and vaxxed out of our minds. Ahnd ve vill ve hahppy.