crazy market...

[KTP]

//start mild rant

WTH...Tesla shares up 40% on IPO today when the market is down over 2%! This for an AUTO maker who is losing money faster than BP (well almost).

Meanwhile Microsoft (thank the Lord I sold those options at 31.5) is trading down to almost $23 with a PE of 12...??? Everyone is focused on their lack of a timely entry into the smartphone market when they are printing money on the business server side of things...60 billion revenue and climbing...

Or how about Exxon? They are trading at $58 or less when they are also printing money and had just ONE safety violation in the last 8 years when BP had over 800...

Screw this I am going to Vegas where the odds are better

//end mild rant

[Broken Arrow]

Haha, yesterday was like the worst trading day of the year so far. Just about everything was bleeding red.

TSLA was on my watchlist so I can track it, and I even debated buying in. Ultimately though, I didn't because this stock is mostly driven by IPO and speculation frenzy rather than some kind of decent fundamentals. And though I still wouldn't touch it with a 10-foot pole, I was shocked to find that TSLA was up by 40%, and now it's up another 6.7% in pre-market trading!

BP was resilient yesterday. I've seen odd behavior like that before, so at least it didn't surprise me when it held its own and even posted a gain. Wow, and the pre-market trading on that is 3.9% gain right now.

Ultimately, these are just some of the more radical examples of why the market, especially the short-term market, can be so irrational. And why it's so difficult to trade in these environments. If nothing else, I am getting an intimate education on why long term passive investing can be such a good idea.

[jefffou]

WTH...Tesla shares up 40% on IPO today when the market is down over 2%! This for an AUTO maker who is losing money faster than BP (well almost).

Meanwhile Microsoft (thank the Lord I sold those options at 31.5) is trading down to almost $23 with a PE of 12...??? Everyone is focused on their lack of a timely entry into the smartphone market when they are printing money on the business server side of things...60 billion revenue and climbing...

Or how about Exxon? They are trading at $58 or less when they are also printing money and had just ONE safety violation in the last 8 years when BP had over 800...

Good time to insert my favorite investing quote...."Markets can remain irrational a lot longer than you and I can remain solvent."