"We did it, Patrick! We made a technological breakthrough!"
A place for all those who loathe AI to discuss things, post articles, and ridicule the AI hype. Proud supporter of working people. And proud booer of SXSW 2024.
AI, in this case, refers to LLMs, GPT technology, and anything listed as "AI" meant to increase market valuations.
https://sh.itjust.works/post/49182958
Soo.. I succumbed to my urge and shorted Nasdaq (was too scared to short Nvidia).
I wished it would go down in breakneck speed, but it has only whimpered so far. Still, it seems to be showing head-and-shoulders / double top pattern, and the pricing looks like it is trailing down.
Indeed, you never know until it truly bursts, though. I wonder what to do with my shorts.
You're shorting a system where price discovery is so deliberately broken even Burry gave up. Wishing you luck, but you'll need a lot.
But it goes down. Better than a crash, which might take down the innocent (as far as there are innocents in the stock market).
Shorting has infinite risk. If you want to bet against a stock, I'd recommend buying put options instead.
Shorting in a bull market might sting a bit. Maybe invest in what you think will go up if it bursts.
read Reminiscences of a Stock Operator, before seriously gambling on the various financial ~~markets~~ casinos we have.
tldr...don't fight the trend, unless your the one with the $ setting that trend
its a bull market, damn near everything is overpriced...that's how it works. they've ran the prices up so much so they can drop them, hoping to trigger panic selling
far as the big indexes go, overwhelming majority of people are better off just buying exposure for "insurance". leap-puts on a certain % of their port they regularly roll up/out
So.. adjust your expectations? And improve your general knowledge of the stock market? I make over 500k a year on my portfolio.