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Off-Topic Stock Market & Crypto Discussion

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Bird4um said:
15 of my stocks down double digits today...
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Wednesday we get the cpi numbers. Inflation will be high, but I’m hearing the talking heads, on CNBC, saying inflation has peaked.
The 3rd and 4th quarters could be a major comeback.
 
mr.h said:
Wednesday we get the cpi numbers. Inflation will be high, but I’m hearing the talking heads, on CNBC, saying inflation has peaked.
The 3rd and 4th quarters could be a major comeback.
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AutoCANE said:
WTF happened to LUNA today. I buried my head in the sand…good lord
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I saw this earlier today.

Terraform Labs (TFL) — the organization behind UST, cryptocurrency LUNA, and Luna Foundation Guard (LFG) — emptied its treasury wallet of all of its bitcoin, about 42,530 bitcoin, or $1.3 billion, today. “That [action could] add meaningful sell pressure on bitcoin and could drag down markets with it,” Corey Miller, growth lead at dYdX, said to TechCrunch.
 
AutoCANE said:
WTF happened to LUNA today. I buried my head in the sand…good lord
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Coordinated attack to de-peg UST by a very large entity(s). Could be China, N. Korea, or a bunch of heavy VC's, no one knows. They struck at the perfect time with equities crapping, liquidity gone, interest rates skyrocketing, inflation through the roof, and the curve pool safeguards not fully activated yet.

It's a black swan event. So many Luna holders liquidated today, its really sad (not me thankfully - yet). What's even more f'd up is very few exchanges (KuCoin for example) are allowing UST or LUNA transfers out, so people can't even defend against liquidations by paying down their loans on Anchor.

I will fully admit that if you had asked me a week ago, I would have called this a 1 in 5000 event. I'm blown away.

Please take this with a boulder sized grain of salt, but I have some VC friends who are in this space and are close with the Terra people who said Do Kwon and TFL are getting crazy capital committed from VCs right now, supposedly.

We will see. Crypto is wild.
 
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CFLCane said:
Copper down 15%, Aluminum down 18% since this post. S&P down 8% DJI down 7% in same time frame. Any inflation benefit from commodity prices plummeting won't be seen for awhile and will still be muted from supply chain problems. Expect more blood.
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I agree, you might remember that I specifically singled out a few commodities with upside, especially oil, earlier in this thread. Other commodities were overbought and will likely be oversold now.
 
mr.h said:
Recession fears are bull**** this early in the game.
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When the Fed raises rates, they harm the economy a large majority of the time, causing a recession. Add to that QT, the government still spending non stop, the lockdowns in China, the war, the growing shortages in housing, commodities, etc., I dont see how we avoid one. My fear is stagflation.
 
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My plan is to take 50% of my money and put it in the blue chips - Transatlantic Zeppelin, Amalgamated Spats, Congreve's lnflammable Powders, U.S. Hay...and sink the rest into that up-and-coming Baltimore opera hat company.
 
Positive forward looking news came out today for Mullen $MULN regarding battery testing.

finance.yahoo.com

Mullen Issues Update on Its Solid-State Polymer Battery Testing

Battery Innovation Center (BIC) has completed the cell preconditioning in preparation for cell performance cycling. BIC will enter high rate cycling as part of the performance-based cycling with results forthcoming. Mullen’s Solid-State Polymer Battery Tested by Battery Innovation Center in...
finance.yahoo.com finance.yahoo.com

Prelim testing results are in, with full cycle testing now underway and results coming in the next weeks.

Main takeaway is the energy density. The battery was rated with an energy density of 337wh/kg. For reference, the current Tesla 3 battery has an energy density of 150wh/kg. This would mean a vehicle sized battery back could produce the 600 mile range that was previously disclosed. These batteries are also more lightweight, thus increasing their use in larger vehicles such as the MULLEN FIVE SUV, and increasing milage further in smaller vehicles like a Tesla 3.

Also, extremely important regarding battery safety and environmental safety during disposal.


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SpikeUM said:
When the Fed raises rates, they harm the economy a large majority of the time, causing a recession. Add to that QT, the government still spending non stop, the lockdowns in China, the war, the growing shortages in housing, commodities, etc., I dont see how we avoid one. My fear is stagflation.
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the fed wants a soft landing by saying rate increases will not be above 50 basis points, which is basically .5%
To have stagflation we would have to have high unemployment. So far we have the lowest unemployment in decades.
We are seeing massive selling by institutions, because they have to. Unless you are holding garbage stocks, then why sell ?
just saying..
 
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AutoCANE said:
@Cryptical Envelopment i have to admit, this one has me a bit shook…mainly because my luna bag is staked so I don’t have any choice but to wait and see what happens since there is a waiting period if I choose to unstake.

Ugh
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We're all shook. The markets are broken... **** the world is broken. Tough environment for Terra to make a comeback in. It was just a perfect storm of a fragile environment and bad actors, while some safeguards were still being installed. UST was vulnerable off-chain. A lot of trust has been lost. Being staked is good, it means you didn't use leverage like many who got liquidated. You still have your Luna, fwiw. Me too. So many don't right now.

There is no easy way to put this. It was a horrific event that hurts a lot. Sorry for your hit, and for mine.

 
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