Wednesday, February 10, 2021

Stock mania, big spending bill, is super that super

---As these market times would have it, one of my brokerage accounts now keeps reminding me that I am a day trader.  They're right.  I trade during the day.  More active trading now allows for discreet opportunities to take advantage of precipitous spikes or declines that cannot be anticipated.  Occasionally, but rarely, I will make a mistake on my laptop(all of these new symbols for Spac's don't help), and almost always it will quickly be reversed.  A couple of times in this quirky market a mistake will turn immediately profitable, entailing a need to quickly find out what stock has become a new investment.  Yes, I guess some of these trades are the definition of day trading.  

The equity market now seems hypersensitive.  At times when a commentator, analyst, investment fund manager, or senior official of an investable corporation speaks on CNBC and makes a strong recommendation, a stock will move in tandem with their remarks.  That attracts attention, best ignored but at times can lead to an immediate opportunity, especially to sell and pick up a gain.  Day trading. 

Is any of that against the rules?  Only in very specific cases that don't apply here.  It absolutely can lead to "disallowed losses", which can be tolerated in small amounts, in fact must be, as taking risk is part of the game.  Day trading. 

---The discussion in Congress over President Biden's pending huge spending bill is missing one important fact.  Even if the spending is desperately needed and it can be more specifically targeted to those programs or people who need it, are the people in place to successfully implement it.  In Michael Lewis's book "The Fifth Risk", he describes cabinet departments being completely decimated by firings of senior career department officials by Trump appointees who were clueless.  Enough said on that.

---CBS broadcast the Super Bowl.  They also have rights to broadcast the Masters Golf Tournament which they treat with such reverence that it seems as if choirs are singing in the background between breaks in the coverage.  It seemed here that the same approach was taken to the NFL's title game.  The Super Duper Super Bowl.


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