August 9, 2022.
Yesterday the market was up significantly. Now, the DOW is down over 650 points erasing all of the gains from yesterday and a bit more. I feel the prediction Michael Burry has been tweeting is upon us and there may be a lot more downside.
A couple days ago a good friend asked me what I thought about depleting his entire portfolio and waiting until all this turmoil starts to settle. While I agree there are many extraordinary issues happening in the world right now, I am really hesitant to go all cash.
Powell gave the market an update today. Announced that the Federal Reserve will be hiking interest rates 75 BPS and that we may be in for 100 to 125 BPS increase for the rest of the year.
Monday morning and I started my 5am routine at 6:20. I’m not too happy about it, but did feel refreshed at getting about 7 hours sleep. I actually woke up at 3am then fell back to sleep.
Key inflation rate, CPI, unexpectedly rose in August and the market tanked hard. As of this writing, the DOW is down 3.45% at 3,129 and the NASDAQ is down 4.74% at 11,666. Coincidentally, this seems to follow the seasonality chart which illustrates a down market during the months of September and October.
The DOW closed today up 1.19% at 32,151 and NASDAQ up 2.11% at 12,112. I don’t think it will continue to go up any further given the current economic situation so I took this opportunity to sell 20 covered calls in NU at 5.5 to expire next Friday.
Woohoo! I actually got up at 5am today! It’s only my second day adopting the 5am Club concept, but it was easier today. The only hurdle I’m trying to overcome now is getting enough sleep. I got to bed by 9:30pm, but didn’t sleep until after 11pm. I also woke up at 2:30am and it took a while to get back to sleep. I’m not really sure why.
I’m trying something new. I believe this could give me a boost in achieving my long term $90 million goal. Through helping my teenage daughter develop more efficient study habits, I’ve recently come across several videos about the 5am Club and decided to give it a try.
“We're counting cards, we're not gambling. We're following a specific set of rules and playing a system.” - Micky Rosa (movie, 21)
Hoooo weee. Powell's comments last week took down the market quite a bit and today the market still continues to decline. Fortunately, the pace of decline has slowed quite a bit, but a decline nevertheless. My NU stock is now at $4.85 and much closer to the strike price. What to do now. . .
The market was awaiting Powell's speech today from Jackson Hole and it wasn't well received. The Dow is currently down 18% to 32,678 and NASDAQ down 2.66% at 12,303. Investors do not like what he has to say.
The DOW fell over 600 points yesterday and NASDAQ fell over 300. I think it's finally time to pull the trigger and sell a put. It doesn't feel good, but these events are what investors wait for. The events where there is blood on the streets.
From the latest news, Feds will continue hiking interest rates until inflation eases and they will continue to reevaluate new data. Markets didn’t seem to like that news too much. NU decreased further. What started out as a really good week is now the exact opposite. The stock shot up to almost $6 after earnings and is now at $4.62.
Account is now $9,166. NU stock is currently $5.22. It’s down a bit today but long term story sounds firm. In addition to the earnings beat and higher customer acquisitions, Softbank had purchased 22 million shares.
Today was a good day. I didn’t do much. Just waited. My one and only position, NU Holdings, reported earnings after hours and they beat analyst estimates and increased their customer acquisition further than what was expected.
I have $7,171 in my account with 2,100 shares invested in NU and $1,880 in the margin. The markets are currently down, but not too much. As I write, NASDAQ is down 156 at 12,487 and DOW is down 26 at 32,806. . .
Today started early. I woke up 5:30 and wasn’t able to go back to sleep. I feel the market calling me. As I look at my phone I see that wholesale inflation fell 0.5% in July - another sign that inflation may be easing.
My daily routine includes waking up around 6:30, immediately checking stock market news on my phone, then go for a walk to get coffee. I watch Bloomberg TV when I get back and get a feel for how the market is moving.
I have $7,171 in my account with 2,100 shares invested in NU and $1,880 in the margin. The markets are currently down, but not too much. As I write, NASDAQ is down 156 at 12,487 and DOW is down 26 at 32,806.
