Starting to put my cash to work in Stock and Crypto Markets!

vlemon in #hive-167922 • 2 years ago

Hi HODLers,

I have had a lot of cash on the sidelines. I had my little project in cryptocurrencies for a while but a lot of the money I earned through real estate / savings or 401k style plans have been sitting in cash.

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Today I have opened a brokerage account and intend to move back some funds to invest slowly for my future retirement. I have done the same with Cryptocurrencies but I thought I would open some investment vehicles for long term investing.

NASDAQ is down 30% YTD and I believe will probably go lower.

I do not plan to time the market but to DCA every week into it through ETF, stock and option investing. I believe we might hit rock bottom some time this summer but I want to start putting cash to work!

My investment horizon to invest most of my cash is the next 12-16 weeks.

NASDAQ performance (1Week)

TESLA performance

Since Elon Musk announced he wanted to maybe acquire Twitter, he has been the target of the government and a lot of woke opponents.

It was just kicked out of the SP500 ESG Index because of:

“lack of a low-carbon strategy” and “codes of business conduct,” along with racism and poor working conditions reported at Tesla’s factory in Fremont, California, affected the score.

That is a joke when you think that before Tesla there was literally no EV market and legacty automakers did everything they could to slow this market as it was less profitable than their previous ones...

CNBC Article here

And you? What are you doing?

Stay safe out there,

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2 years ago in #hive-167922 by vlemon

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jfang003 2 years ago

We all know Elon pissed off a lot of people and it doesn't help that Elon did sell off a lot of stock. Whether it be for taxes or for Twitter, it's going to affect some people's faith in the company. Of course, I think the entire reasoning they did for kicking it off the index is kind of bs.

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vlemon 2 years ago

It is clearly political and he is kind of dumb for being so antagonizing and provocative. It is probably just because he does NOT give a f***

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acesontop 2 years ago

Elon has balls and so do you for taking action. Good luck with your plan!

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vlemon 2 years ago

Thanks! Trying to time the bottom over the next 3 months hehe. DCA is the best way to do so.

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borsengelaber 2 years ago

Why is you investment horizon for retirement only a couple of weeks? 🤔
Nasdaq is a good index which I think too is entering now the buying zone, long term. Like in a couple of years you will get good return I think but in 10 weeks it could be even lower. Don’t really get that point of you strategy.

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vlemon 2 years ago

Okay, So I have cash sitting on Checking accounts. I will transfer it to IRA / retirement accounts. With the goal of investing these over the next 10 weeks (as I feel as some point during this time we will be at the bottom of the stock market).

Then I plan to hold the positions for years. Not selling.
In addition of course, I have my monthly contributions to different retirement plans.

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borsengelaber 2 years ago

Ah ok. Now I got you. Yes I would do the same. 👍🏻
Would leave a bit of cash to cover 2-3 months of expenses, just in case. You never know what could happen and then you suddenly need the cash for something.

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