User Panel
Posted: 2/28/2020 5:39:25 AM EDT
Friday is looking like another big drop. Futures are down more than 600 points from yesterday's close.
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DOW 52 week high: 29,568
Correction level (10% drop): 26,611 2/27/2020 closing: 25,766 Bear market (20% drop): 23,654 Drop from 52 week high: 3,802 Points above bear level: 2,112 We're closer now to a bear market than a bull. Interesting times indeed. |
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Think back to the last market correction...don't you wish you would have bought?
IOW Buy! Buy! Buy! |
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One never knows where "the" bottom is, and in the grand of things, a couple of % one way or the other doesn't matter.
This is all programmed/technical trading based essentially on financial voodoo. Hilariously, Covid-19 is far less contagious and far less fatal than MERS, SARS, et al...yet the market over reacts. This will probably be over with in a couple of months at most. |
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They'll fix you. They fix everything.
-Murphy/Robocop to Lewis. |
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Mehhhh. My shits just gonna sit there for another 30 years so whatever.
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Quoted:
One never knows where "the" bottom is, and in the grand of things, a couple of % one way or the other doesn't matter. This is all programmed/technical trading based essentially on financial voodoo. Hilariously, Covid-19 is far less fatal and far less fatal than MERS, SARS, et al...yet the market over reacts. This will probably be over with in a couple of months at most. View Quote |
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Talking Heads all kept saying it needed to happen and so it did.
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Where's all the Monday(tm) mockers?
DGAF crew checking in. Moved it all to money market over a year ago. Stock market is gambling, plain and simple. If you can't stand to lose all your money you put in the market, that's a strategic problem that should have been addressed a long time ago. |
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Quoted:
Where's all the Monday(tm) mockers? DGAF crew checking in. Moved it all to money market over a year ago. Stock market is gambling, plain and simple. If you can't stand to lose all your money you put in the market, that's a strategic problem that should have been addressed a long time ago. View Quote |
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Yeah we are all a little farther away now. View Quote View All Quotes View All Quotes Quoted:
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RIP 401ks You’re not losing “money” which can be made back, you’re losing time , which you can never regain . |
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Quoted:
One never knows where "the" bottom is, and in the grand of things, a couple of % one way or the other doesn't matter. This is all programmed/technical trading based essentially on financial voodoo. Hilariously, Covid-19 is far less contagious and far less fatal than MERS, SARS, et al...yet the market over reacts. This will probably be over with in a couple of months at most. View Quote |
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Quoted:
Quoted:
One never knows where "the" bottom is, and in the grand of things, a couple of % one way or the other doesn't matter. This is all programmed/technical trading based essentially on financial voodoo. Hilariously, Covid-19 is far less contagious and far less fatal than MERS, SARS, et al...yet the market over reacts. This will probably be over with in a couple of months at most. They are finally seeing progress with their hysteria concerning corona , they’ll hype this thing as long as the stocks keep going lower, it’s a self fulfilling prophecy for them . Tanking the economy is their best shot at getting rid of trump , right now , corona and idiocy are giving them optimism |
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At my age the money I have in the stock market I can leave there until I die. My heirs will get it.
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Quoted: That would be the real thing to look at . You’re not losing “money” which can be made back, you’re losing time , which you can never regain . View Quote |
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I'm not super tinfoily but I have little doubt there are those that want this to hurt as much as possible.
That said I've got a decent amount of cash ready and a shopping list. It does hurt a little right now but I'm gonna do my best to come out of it better off. |
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Quoted: Discussing the market need not be judgmental - it is an economic indicator worth paying attention to, whether you have any money in it directly or not. View Quote View All Quotes View All Quotes Quoted: Discussing the market need not be judgmental - it is an economic indicator worth paying attention to, whether you have any money in it directly or not. Right after QE3 was announced, Jerome Powell predicting ths I have concerns about more purchases. As others have pointed out, the dealer community is now assuming close to a $4 trillion balance sheet and purchases through the first quarter of 2014. I admit that is a much stronger reaction than I anticipated, and I am uncomfortable with it for a couple of reasons. First, the question, why stop at $4 trillion? The market in most cases will cheer us for doing more. It will never be enough for the market. Our models will always tell us that we are helping the economy, and I will probably always feel that those benefits are overestimated. And we will be able to tell ourselves that market function is not impaired and that inflation expectations are under control. What is to stop us, other than much faster economic growth, which it is probably not in our power to produce? [W]hen it is time for us to sell, or even to stop buying, the response could be quite strong; there is every reason to expect a strong response. So there are a couple of ways to look at it. It is about $1.2 trillion in sales; you take 60 months, you get about $20 billion a month. That is a very doable thing, it sounds like, in a market where the norm by the middle of next year is $80 billion a month. Another way to look at it, though, is that it’s not so much the sale, the duration; it’s also unloading our short volatility position. My third concern—and others have touched on it as well—is the problems of exiting from a near $4 trillion balance sheet. We’ve got a set of principles from June 2011 and have done some work since then, but it just seems to me that we seem to be way too confident that exit can be managed smoothly. Markets can be much more dynamic than we appear to think. When you turn and say to the market, “I’ve got $1.2 trillion of these things,” it’s not just $20 billion a month— it’s the sight of the whole thing coming. And I think there is a pretty good chance that you could have quite a dynamic response in the market. Its Monday(tm). They were right. Just took longer because of how dug in the central planners were. |
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Remember back when it hit a record 10,000? That was only 20 or so years ago.
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I'm 30+ years from retirement.
I'll buy all the way down to 0. By the time I need the money it will have either gone back up (and then some), or things are so fucked up it doesn't matter anyway. |
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Great job, unfortunately most people don’t even look at their 401ks. View Quote View All Quotes View All Quotes |
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I checked mine, it’s down ~20k since Monday. I’m not checking it anymore for a while View Quote View All Quotes View All Quotes Quoted:
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Quoted: Not necessarily. I checked mine today, having rebalanced it on 1/27. It was up around 0.6% in that time. That was based on closing value on 2/26. |
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I talked to the regulatory manager for corporate & investment bank risk that handles investment accounts and no one is worried at their company. It's happened before and this is all an emotional response (which is why this happens) to the Coronavirus. We're looking at 2,800 people that have died WORLD WIDE while the flu kills up to 56,000 people A YEAR in the U.S. alone. Why doesn't the DOW drop during every flu season? Right now it's a buyers market while people make irrational decisions.
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I talked to the regulatory manager for corporate & investment bank risk that handles investment accounts and no one is worried at their company. It's happened before and this is all an emotional response (which is why this happens) to the Coronavirus. We're looking at 2,800 people that have died WORLD WIDE while the flu kills up to 56,000 people A YEAR in the U.S. alone. Why doesn't the DOW drop during every flu season? Right now it's a buyers market while people make irrational decisions. View Quote |
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Where's all the Monday(tm) mockers? DGAF crew checking in. Moved it all to money market over a year ago. Stock market is gambling, plain and simple. If you can't stand to lose all your money you put in the market, that's a strategic problem that should have been addressed a long time ago. View Quote |
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Meh. I’ll get a few payroll contributions in while it’s low, that will work out nicely.
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Small wonder, just check out all the "Mah Virus" threads on the first page here then realize that wall street is just as skittish as GD if not more so and you have your answer.
This could easily turn out to be the first financial collapse brought on by social media. It's crazy. |
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Comparing coronavirus a couple of months after its first infection cluster to an endemic disease is like comparing the ticket sales of any movie that was released last weekend against the total worldwide ticket sales of Avatar. View Quote View All Quotes View All Quotes Quoted:
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I talked to the regulatory manager for corporate & investment bank risk that handles investment accounts and no one is worried at their company. It's happened before and this is all an emotional response (which is why this happens) to the Coronavirus. We're looking at 2,800 people that have died WORLD WIDE while the flu kills up to 56,000 people A YEAR in the U.S. alone. Why doesn't the DOW drop during every flu season? Right now it's a buyers market while people make irrational decisions. We see an attempted flu scare almost every year, and some years actually are worse than others, by more than Covid's footprint so far. China overreacted in classic authoritarian fashion, now libs are begging for us to do likewise so they can be paid billions to pin it all on Republicans. |
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