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VinVega 03-12-20 03:08 PM

Re: Stock Market Meltdown
 

Originally Posted by cultshock (Post 13702700)
That's the way I'm thinking about it. It will either be ok by the time I retire in around 20 years, or the house of cards will all come crashing down, in which case we're screwed anyway. With my luck, it will recover and then a year before I retire something similarly bad will happen and I'll lose a ton. :lol:

If you are in high risk investments one year before you retire we need to sit down and have a chat. Zod needs to straighten you out man.

Nick Danger 03-12-20 03:09 PM

Re: Stock Market Meltdown
 
I'm less than ten years from retirement. I wasn't worried in 2007. This time I'm a little uneasy. There were 6-1/2 years between the high of February 1966 and when the market hit that again. 5-1/2 years between October 2007 and when the market reached that level again.

I don't want to have to pull expensive money out of my retirement funds.

sinned 03-12-20 03:09 PM

Re: Stock Market Meltdown
 
I started buying probably on the 3rd day that the market dropped and it's what day 15 now? I am all tapped out at this time. What's overwhelming is that the stocks are falling 10-20% at a time, rather than the incremental drop offs of previous market crashes.

What's good about the recent move to no-fee trades is that I am still able to buy $20-$50 worth of stocks a day. i figure every little bit will help.

2020 has been a helluva year so far. Wish it was December.

eXcentris 03-12-20 03:10 PM

Re: Stock Market Meltdown
 
Oddly enough, I forgot about my TFSA (about 20k) and all I have in there is WEED (Canopy Growth). It was $26 when I forgot to sell it 3 weeks ago, it's $15 now. Oops. :lol:

mspmms 03-12-20 03:20 PM

Re: Stock Market Meltdown
 

Originally Posted by eXcentris (Post 13702698)
orange dufus

:banana:On the first page!

Check your bingo cards for eXcentris.

Why So Blu? 03-12-20 03:32 PM

Re: Stock Market Meltdown
 
10% drop today! Biggest one day drop since 1987!

emanon 03-12-20 03:42 PM

Re: Stock Market Meltdown
 
Down about $130K in my 401K so far, and that's before today's shitfest. I turn 50 this year (which means I just upped my personal contribution from $19K to $26K in January), and would like to retire by 60. We'll see, now...

Haven't looked at my (much smaller) Roth IRA in a couple of weeks. Just have a couple of small stock investments other than that that I don't follow too closely.

funkyryno 03-12-20 05:20 PM

Re: Stock Market Meltdown
 
Biggest drop today was Norwegian Cruise Lines, down 53%.

GOOD

Norwegian Cruise Line managers urged salespeople to spread falsehoods about coronavirus

LurkerDan 03-12-20 05:57 PM

Re: Stock Market Meltdown
 
I think we're going to see a lot more dropping, this isn't some quick fear blip. Because the virus is going to keep hammering people, and all the lost revenue from businesses temporary closing, people self-distancing, canceling vacations, etc, is going to hammer revenues. It will be a while before we pull out of this, IMO. Everyone wants to buy the dip, and a few brilliant folks manage to do that consistently, the rest of us do it if we're lucky. My opinion is that we haven't seen near the end of the dip, and those of you thinking that now is the time to buy are gonna be disappointed.

funkyryno 03-12-20 06:14 PM

Re: Stock Market Meltdown
 
You're more than likely right. Nobody has called the bottom yet. But buying now is certainly better than if you bought in February :lol:

eXcentris 03-12-20 06:47 PM

Re: Stock Market Meltdown
 

Originally Posted by mspmms (Post 13702719)
:banana:On the first page!

Check your bingo cards for eXcentris.

:rock2:

EinCB 03-12-20 06:53 PM

Re: Stock Market Meltdown
 

majorjoe23 03-12-20 07:06 PM

Re: Stock Market Meltdown
 
I’m not especially concerned, since I’m 41. But my parents just retired, so I worry about what this might do to them.

cultshock 03-12-20 08:17 PM

Re: Stock Market Meltdown
 

Originally Posted by VinVega (Post 13702705)
If you are in high risk investments one year before you retire we need to sit down and have a chat. Zod needs to straighten you out man.

I'm sure I won't be but I could probably use a talking to anyway. :lol:

sinned 03-12-20 10:37 PM

Re: Stock Market Meltdown
 
So after the worst 1-day loss in market history, futures indicate that tomorrow we will open at a 650+ loss. *sigh*

Hazel Motes 03-12-20 11:03 PM

Re: Stock Market Meltdown
 
I'm at least 25+ years away from retiring as well. So I'm not worried about myself. My Mom and Dad both have a company pension and all of their investments are in real estate. They own 6 condo's throughout Canada, America and Mexico. I think the worst that will happen to them is a loss of income from the properties if their tenants stop paying rent for whatever amount of time it takes to get through this. My biggest concern is my Dad is 66 and has mild COPD from smoking his entire life. So I'm going out to see them tomorrow to convince them to quarantine as much as possible. Luckily my Mom has a freezer full of food and a pantry full of canned food even when there ISN'T a pandemic.

tanman 03-13-20 12:54 AM

Re: Stock Market Meltdown
 
So what are some good deals to be had as far as stocks. I'm thinking Disney? It seems to have dropped significantly and I'm not worried about them going under or anything. It hasn't been this low for a long time.

slop101 03-13-20 12:57 AM

Re: Stock Market Meltdown
 
Like I said in the trump thread, this is all on him, his fat fucking mouth and his lack of leadership.

zyzzle 03-13-20 01:02 AM

Re: Stock Market Meltdown
 
Why the fuck doesn't Wall Street just shut down, like it did after 9/11? This would avoid mass panic selling and herd mentality. Tomorrow's going to be ridiculous unless the markets are shut down. Give people a chance to relax, reflect, and realize that a mass sell-off isn't the best thing for them or for the country?

phryzbe 03-13-20 01:06 AM

Re: Stock Market Meltdown
 
Stock futures at +655 right now. Dead cat bounce.

AaronHernandez 03-13-20 02:08 AM

Re: Stock Market Meltdown
 

Originally Posted by zyzzle (Post 13703118)
Why the fuck doesn't Wall Street just shut down, like it did after 9/11? This would avoid mass panic selling and herd mentality.

Recessions and mass panic are garage sale's for the rich. Their are Investors wetting their lips to see how far this drops so they can buy safe stocks on the cheap

DVD Polizei 03-13-20 05:46 AM

Re: Stock Market Meltdown
 

Originally Posted by LurkerDan (Post 13702869)
I think we're going to see a lot more dropping, this isn't some quick fear blip. Because the virus is going to keep hammering people, and all the lost revenue from businesses temporary closing, people self-distancing, canceling vacations, etc, is going to hammer revenues. It will be a while before we pull out of this, IMO. Everyone wants to buy the dip, and a few brilliant folks manage to do that consistently, the rest of us do it if we're lucky. My opinion is that we haven't seen near the end of the dip, and those of you thinking that now is the time to buy are gonna be disappointed.

The financial rebound is going to be just as shocking.

But in addition, companies might be rethinking their knee-jerk anti-social reactions to what is still mostly unknown. Many events canceled were justified but now it's just getting ridiculous.


VinVega 03-13-20 06:35 AM

Re: Stock Market Meltdown
 

Originally Posted by AaronHernandez (Post 13703131)
Recessions and mass panic are garage sale's for the rich. Their are Investors wetting their lips to see how far this drops so they can buy safe stocks on the cheap

Exactly. I'm not worried about the market looking at the long term. There is no place else that the rich can park their money that will yield a better return on investment.

nemein 03-13-20 07:41 AM

Re: Stock Market Meltdown
 

Originally Posted by phryzbe (Post 13703119)
Stock futures at +655 right now. Dead cat bounce.

I wouldn't trust it for awhile though myself. We're going to be on a roller coaster ride for the next couple of months. Hopefully some day traders are making some money on it but I don't have the time to monitor/play it to that extent myself. I did finally convert about 1/3 of my ROTH to cash yesterday. Only sold off things that still were at a profit and was thinking about dumping anyway for one reason or another. Probably should have done it a little sooner but oh well. Between that and the annual contribution from last year I have a some $$$ waiting to see when things bottom out and buy back in.

Also looking to diversify a bit more now as well w/ direct REITs and crypto... some nice bargains out there right now ;)

The one kind of unusual thing about this down turn is nothing really seems "safe" right now, I mean everything is down. A lot of time when stocks are down things like gold/silver are up. I guess people are converting a lot to cash just waiting to see what happens...

DVD Polizei 03-13-20 08:01 AM

Re: Stock Market Meltdown
 

Originally Posted by nemein (Post 13703181)
I wouldn't trust it for awhile though myself. We're going to be on a roller coaster ride for the next couple of months. Hopefully some day traders are making some money on it but I don't have the time to monitor/play it to that extent myself. I did finally convert about 1/3 of my ROTH to cash yesterday. Only sold off things that still were at a profit and was thinking about dumping anyway for one reason or another. Probably should have done it a little sooner but oh well. Between that and the annual contribution from last year I have a some $$$ waiting to see when things bottom out and buy back in.

Also looking to diversify a bit more now as well w/ direct REITs and crypto... some nice bargains out there right now ;)

The one kind of unusual thing about this down turn is nothing really seems "safe" right now, I mean everything is down. A lot of time when stocks are down things like gold/silver are up. I guess people are converting a lot to cash just waiting to see what happens...

Yeah, we got a lot of liquidation going on, and many are just sitting on their cash (some probably literally)....waiting to get back in when they perceive the time to be right.

But what is really a problem is the Fed cutting rates. They didn't have to and now it will bring even more instability to those sectors. This won't do well for some housing markets, imo.


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