patrick.net

I think FB has some long-term problems ahead, so I wouldn't do it myself.

I did buy a bit more SHOP today because they have been so beaten down, yet the fundamentals have not changed.

Yeah as soon as this Communism thing takes hold people will avoid Social networks like It's a bucket of Aids and they have a thousand paper cuts.

I think instant messaging will come back into fashion, an encrypted version of AIM.

Tenpoundbass says

I think instant messaging will come back into fashion, an encrypted version of AIM.

I’m using Signal for that for conversations with my extremely based friends.

Shaman says

Tenpoundbass says

I think instant messaging will come back into fashion, an encrypted version of AIM.

I’m using Signal for that for conversations with my extremely based friends.

Use any variant of these:

https://tox.chat/?source=patrick.net

It's a point to point, end to end encryption system. P2P is the ONLY way to have ANY hope of having secure communication. It SUCKS for voice, but it's fine for chat. There's no server. You are not identified by your name, you are identified by a public ECC key (plus some other junk) that is unique to that instance of Tox running. There's several clients.

You can rant and yell at me if you like. This is my ID.

2779E73EE1BE4E85A52DDA1E0E0DE8006905250171725CD64BE0ED1C29DACC4C03491A64CDA5

But really - who cares? Let the government know they can go fuck themselves.

komputodo says

What do you guys think about a small purchase of FB at about $200 per to hold for minimum 3 years instead of just holding cash?

I sold some WFC and bought a few shares of ROKU.

Edit: The trade worked out for today at least.

No it's in stage 4. Use $PYPL as an example of what can happen when a stock is in a stage 4 decline, under the 200d ma. A lot of people started grabbing in December around $180 when it was down 42% from highs. It has dropped another 42% from $180, to $105.

They can ALL go lower.

I'm buying Russian stocks oil and Gas and fertilizer. Risk is the US would impose sanctions on US citizens owning Russian stocks but unlikely Oil and Gas everyone will freeze and there's already storage in Europe. Fertilizer companies as well. I own PHOR not really impacted by the news. I'm not in any tech so this downside has slight impact.

komputodo says

What do you guys think about a small purchase of FB at about $200 per to hold for minimum 3 years instead of just holding cash?

Unless you think social media is dead. FB is a great investment at this price point. Apple’s privacy opt in hurts the smaller social media services more than FB at the end of the day. Snap, Tik Tok, Twitter all make money the same way FB does… selling your information and advertising to you in a curated way. I own Apple and FB so I hate to see them fight. But FB should be able to innovate a way around this eventually.

And advertisers will start spending on FB again soon. The money isn’t going back to television commercials. That’s not where the future eyeballs are.

FB is really scapegoat for the right and left at this point. It all comes down to personal responsibility. Apple needs to get into the advertising and social media game too and this is their way of slowing FB down. How else will they grow a stock with a 3 trillion dollar market cap.??! An electric car maybe… but ads are much cheaper and easier to sell.

I like Apple products, but FB is an easy punching bag that makes the right and left happy to see punched. So Apple can’t lose at the moment talking about how evil FB is. But they will charge you $30 for a 10 cent cable to charge your phone cause they can.

mich says

Use $PYPL as an example of what can happen when a stock is in a stage 4 decline, under the 200d ma. A lot of people started grabbing in December around $180 when it was down 42% from highs. It has dropped another 42% from $180, to $105.

I question the viability of PayPal now that eBay doesn't (basically) require you to use them.

Booger says

They can ALL go lower.

Just an example of how they can ALL go lower. In my opinion tech is overvalued that's why I never touched it and I'm happy ;)

What do you think about GOOG (split coming up in July) and Goodyear (GT)? And ASAN (1 billion CEO purchase)?

DIE, MOTHERFUCKING FUCKBOOK, DIE!

mich says

No it's in stage 4. Use $PYPL as an example of what can happen when a stock is in a stage 4 decline, under the 200d ma. A lot of people started grabbing in December around $180 when it was down 42% from highs. It has dropped another 42% from $180, to $105.

They can ALL go lower.

I'm buying Russian stocks oil and Gas and fertilizer. Risk is the US would impose sanctions on US citizens owning Russian stocks but unlikely Oil and Gas everyone will freeze and there's already storage in Europe. Fertilizer companies as well. I own PHOR not really impacted by the news. I'm not in any tech so this downside has slight impact.

Which Russian stocks are you looking at?

DWAC

gabbar says

mich says

No it's in stage 4. Use $PYPL as an example of what can happen when a stock is in a stage 4 decline, under the 200d ma. A lot of people started grabbing in


I like the quote 18th-century British nobleman and member of the Rothschild banking family:

"Buy when there's blood in the streets, even if the blood is your own."

They're taking a beating today! If your timeline is years there could be some great gains. Of course there's the risk that US citizen can't own certain Russian stocks but the upside???? You can buy foreign stocks on Interactive Brokers. PHOS, AGRO, ROSN, ATAD, LKOH, and may dump my 401k into RSX been sitting in cash too long. Mostly oil and gas and fertilizer companies. Maybe Norilsk Nickel

I contradict myself FYI can't help it contrarian by nature and it's worked out well. But it's better to buy in stage 2 breakout than in a downtrend. Less Risk

mich says

I contradict myself FYI can't help it contrarian by nature and it's worked out well. But it's better to buy in stage 2 breakout than in a downtrend. Less Risk

EPAM or VEON?

well I pulled the trigger on FB and bought 5 whole shares...lol...my first stock purchase in my life...i broke my cherry.

I'm not betting too much on FB, but I do think they have chance at making big bucks if they can monetize a "metaverse". I dont think its a sure thing they can succeed at it, but they have a decent shot IMO.

OTOH, this promise of future metaverse profits could be a clever scheme to prop up their falling stock price for quite a few years while they build it.

I'm kinda hoping FB fails, but it might be better they succeed at harvesting social data vs a chinese tiktok, for example.

Patrick says

I did buy a bit more SHOP today because they have been so beaten down, yet the fundamentals have not changed.

based on thursdays lows, both SHOP and FB are looking pretty good

The MACD and RSI suggest FB is about to head North. It would be interesting if that gap gets filled. The 'gaps always get filled' heuristic doesn't apply to individual stocks though. Instead of 3 years maybe sell before that next earnings date?

The price is really just back to around where it was pre-covid. However, I have considered doing what you've done. I'm not one of the stock experts on here.

If you want to play an industry sector, look at the top 10 holdings of the Metaverse EFT, META:

NVIDIA CORPORATION
MICROSOFT CORP
META PLATFORMS INC
ROBLOX CORP
UNITY SOFTWARE INC
SNAP INC
FASTLY
TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS
APPLE INC
AMAZON COM INC

Remove the ones with the best price action like NVDA, TSM, AAPL, AMZN and split the rest of your position among the remainders. I wouldn't do it but it's a way to play a sector near a top of a bull market.

I'd stick with dividend stock during these times, ala British American Tobacco & Altria, but that's just me.

Patrick says

I think FB has some long-term problems ahead, so I wouldn't do it myself.

I did buy a bit more SHOP today because they have been so beaten down, yet the fundamentals have not changed.

Time to dump SHOP? I closed out my FB yesterday and made a 5% profit in 22 days......A lot better that 0.1% in a year!...Now I will patiently wait for the dump and buy back in.

komputodo says

What do you guys think about a small purchase of FB at about $200 per to hold for minimum 3 years instead of just holding cash?

wouldn’t touch social media past its prime. its generational. young people won’t touch it. old will only keep dying. plus mistrust in fuckbook is huge after all the censorship.

next time market crashes, should be soon, buy anything… ge, costco, coke, ford, pg&e… literally anything and youll make out like a Biden

komputodo says

Time to dump SHOP?

No, it just had three great days.

But I hold for the long term in all cases anyway.

Patrick says

No, it just had three great days.

But I hold for the long term in all cases anyway.

I know, that's why i thought you might sell and take your profit from the pump and buy back in on the dump.

Fortwaynemobile says

next time market crashes, should be soon, buy anything… ge, costco, coke, ford, pg&e… literally anything and youll make out like a Biden

I'd be happy with 10%, like the big guy

komputodo says

I know, that's why i thought you might sell and take your profit from the pump and buy back in on the dump.

One thing I did do while SHOP was down was to swap some of my SHOP shares from my 401k into my Roth IRA. Sold in one and bought the same in the other, and vice versa for other stocks to make room for SHOP.

The idea is that if/when SHOP goes back to its previous glory, I can sell and get at the money without owing any tax. That's the best part about the Roth. Withdraw any time, no tax on withdrawals.

Patrick says

hat's the best part about the Roth. Withdraw any time, no tax on withdrawals.

Careful - this is only true for the contributions. The earnings will be taxed (and penalized) unless you are 59.5 and started ROTH contributions at least 5 years ago.

EDIT: There are exclusions to this ie ... you are disabled, you are using the money to buy your first home, etc.

Fortwaynemobile says

komputodo says

What do you guys think about a small purchase of FB at about $200 per to hold for minimum 3 years instead of just holding cash?

wouldn’t touch social media past its prime. its generational. young people won’t touch it. old will only keep dying. plus mistrust in fuckbook is huge after all the censorship.

next time market crashes, should be soon, buy anything… ge, costco, coke, ford, pg&e… literally anything and youll make out like a Biden

Social media is here to stay. And powerful companies like FB don’t die easily. Look at Microsoft… they somehow stayed relevant and grew their stock when Apple was eating its lunch the last 2 decades. FB is like Microsoft circa 2002. Microsoft was as hated as FB around that time and regulated hard. People hated Gates back then possibly more than Zuckerberg.

BoomAndBustCycle says

companies like FB don’t die easily.

Obligatory Myspace reference.

They just got banned in Russia so a huge drop in stock price. I don't know what the bottom will be for them. But I just hope you didn't buy them prior to this ban.

Generally good idea to stay away from companies that play politics. At the end one side hates you, other doesn't care about you. No upside. Zuckerberg has had a lot of luck, but made many stupid decisions. I think he let his quick wealth cloud his judgement.

Booger says

BoomAndBustCycle says

companies like FB don’t die easily.

Obligatory Myspace reference.

You do realize MySpace profits were a pimple on the butt of Facebook? (Actually not sure MySpace ever turned a profit). Comparing FB to MySpace is like comparing Microsoft to Unix in terms of money and power comparison.

FortWayneAsNancyPelosiHaircut says

They just got banned in Russia so a huge drop in stock price. I don't know what the bottom will be for them. But I just hope you didn't buy them prior to this ban.

Generally good idea to stay away from companies that play politics. At the end one side hates you, other doesn't care about you. No upside. Zuckerberg has had a lot of luck, but made many stupid decisions. I think he let his quick wealth cloud his judgement.

All tech is playing politics. Apple does it all the time. FB is a scapegoat for all the ills of the world. But like drugs and alcohol… the masses will still imbibe daily.

Worst case scenario is FB becomes the Altria of tech. Most likely scenario is they pull a Microsoft.. get over shadowed by Tik tok or Snap for the younger generation… but keep milking their 1.9 billion gen x and boomers for cash until they die. And by then they have built up a Meta Web 3.0 that interests the teens in 2040. Look at a Microsoft stock when Apple was killing it the past two decades. I’d be content to get those very possible returns with FB over the next decade.