...with my mind.I have this power.Now i shall use it to reduce the absurd market cap excesses of FAANG.Wish me well, as mega cap drawdowns could finally yield the market capitulation you never knew you needed.That is all.Doom
I've been following your discussion with 12X. Interesting views of valuations. P/S ratios soared unsustab=nably in 2020, no doubt. I sold out of crypto a month ago (thank God) but I'm still down huge in my speculative high-growth stocks, including Meli and U. Made out like a bandit in CRWD and others over the past year or two, but if the FAANGs correct 10%-20% is that the end of it? Instead of a v-shaped recovery, which is naive and defeats the purpose, I'm hoping we get a period of stagnation in the markets for six months to a year so valuations can normalize earnings (presumably) shoot up, despite inflation. Then onward and upward?
a long stagnation is as good as a fast plummet, in theory.The fast plummet lets you load up now, so obviously better for returns, provided you have cash handy.I need a punching bag.Haven't been working out enough, and I feel like the most upset/anxious/frustrated trader in the history of guys up 50% less than halfway thru a year.It is all about FOMO and fake drawdowns.FOMO because of stuff like UPST, which I actually DID buy in the 80s and 90s, literally last week, and which are at $130 right now. Yet I sold at $96.FOMO exampleBasically, UPST is up over 50% in under a week, and that is just stupid and nonsensical.It is also, for the most part, an entire 12-month trading goal. Meaning: that is what you are hoping for...a stock to yield you 50% within 12 months...that is awesome. So when it happens in 1 week, and you got out at 15%, you feel the FOMO regret hard.Fake drawdownsAbout 3 times now we have seen the March 5th lows roughly, with the usual growth stock suspects.Only to watch them go right back up and back down.These were not meaningful corrections, especially when taken in the context of the OUTSIZED moves they made in 2020.Much like Bitcoin/ETH/LINK dropping 40% off their highs today. Big whoop. Look at their TTM gains...still ridiculous. So are these capitulations? No - not at all. Dec 2018 was capitulation. March 2020 was capitulation. The Fall of 2019 was a longer/constant drawdown vs ultra-quick drop, but ultimately it yielded some good bargains heading into Nov/Dec 2019.I have been reading online about how "market chop" is not for the faint of heart, and I think this is what they meant. Literally been thinking about hanging my kids heavy bag back up and pounding the crap out of it, to get some of this angst out. Bipolar markets. Not a fan.Doom
I have this power.Now i shall use it to reduce the absurd market cap excesses of FAANG.Wish me well, as mega cap drawdowns could finally yield the market capitulation you never knew you needed.That is all.Doom--Oh my.If this should come to pass...Dreamer (in awe of Doom)
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