Go Back  DVD Talk Forum > General Discussions > Other Talk
Reload this Page >

Stock Market Meltdown

Other Talk "Otterville" plus Religion/Politics

Stock Market Meltdown

Old 03-12-20, 03:08 PM
  #26  
Admin-MemeCat
 
VinVega's Avatar
 
Join Date: Nov 2000
Location: Caught between the moon and NYC
Posts: 32,553
Received 89 Likes on 53 Posts
Re: Stock Market Meltdown

Originally Posted by cultshock View Post
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.
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.
Old 03-12-20, 03:09 PM
  #27  
DVD Talk Legend
 
Nick Danger's Avatar
 
Join Date: Mar 2001
Location: Albuquerque
Posts: 23,449
Received 78 Likes on 55 Posts
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.

Last edited by Nick Danger; 03-12-20 at 03:17 PM.
Old 03-12-20, 03:09 PM
  #28  
DVD Talk Special Edition
Thread Starter
 
Join Date: Apr 1999
Location: 3rd Rock from the Sun
Posts: 1,599
Received 19 Likes on 3 Posts
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.
Old 03-12-20, 03:10 PM
  #29  
DVD Talk Hero
 
Join Date: Jan 2000
Location: Montreal, Canada
Posts: 30,759
Received 92 Likes on 67 Posts
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.
Old 03-12-20, 03:20 PM
  #30  
DVD Talk Legend
 
mspmms's Avatar
 
Join Date: Apr 2000
Location: Indianapolis, IN. Have to hand it to you (thumbs up) that post is the definition of "hollow".
Posts: 15,341
Received 300 Likes on 207 Posts
Re: Stock Market Meltdown

Originally Posted by eXcentris View Post
orange dufus
On the first page!

Check your bingo cards for eXcentris.
Old 03-12-20, 03:32 PM
  #31  
DVD Talk Hero
 
Why So Blu?'s Avatar
 
Join Date: Feb 2012
Location: Los Angeles
Posts: 31,662
Received 57 Likes on 53 Posts
Re: Stock Market Meltdown

10% drop today! Biggest one day drop since 1987!

Last edited by Why So Blu?; 03-12-20 at 03:45 PM.
Old 03-12-20, 03:42 PM
  #32  
DVD Talk Limited Edition
 
Join Date: Jan 2000
Location: Rockford IL
Posts: 5,880
Received 9 Likes on 7 Posts
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.

Last edited by emanon; 03-12-20 at 06:09 PM.
Old 03-12-20, 05:20 PM
  #33  
DVD Talk Ultimate Edition
 
funkyryno's Avatar
 
Join Date: Mar 2002
Posts: 4,148
Received 124 Likes on 69 Posts
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
Old 03-12-20, 05:57 PM
  #34  
DVD Talk Legend
 
LurkerDan's Avatar
 
Join Date: Jan 2000
Location: The People's Republic of Boulder
Posts: 22,230
Received 22 Likes on 18 Posts
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.
Old 03-12-20, 06:14 PM
  #35  
DVD Talk Ultimate Edition
 
funkyryno's Avatar
 
Join Date: Mar 2002
Posts: 4,148
Received 124 Likes on 69 Posts
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
Old 03-12-20, 06:47 PM
  #36  
DVD Talk Hero
 
Join Date: Jan 2000
Location: Montreal, Canada
Posts: 30,759
Received 92 Likes on 67 Posts
Re: Stock Market Meltdown

Originally Posted by mspmms View Post
On the first page!

Check your bingo cards for eXcentris.
Old 03-12-20, 06:53 PM
  #37  
DVD Talk Ultimate Edition
 
Join Date: May 2010
Posts: 4,780
Received 17 Likes on 10 Posts
Re: Stock Market Meltdown

Old 03-12-20, 07:06 PM
  #38  
DVD Talk Legend
 
Join Date: Apr 2002
Location: Formerly known as Groucho AND Bandoman/Death Moans, Iowa
Posts: 17,240
Received 30 Likes on 18 Posts
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.
Old 03-12-20, 08:17 PM
  #39  
DVD Talk Legend
 
cultshock's Avatar
 
Join Date: Oct 2002
Location: True North Strong & Free
Posts: 13,467
Received 85 Likes on 54 Posts
Re: Stock Market Meltdown

Originally Posted by VinVega View Post
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.
Old 03-12-20, 10:37 PM
  #40  
DVD Talk Special Edition
Thread Starter
 
Join Date: Apr 1999
Location: 3rd Rock from the Sun
Posts: 1,599
Received 19 Likes on 3 Posts
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*
Old 03-12-20, 11:03 PM
  #41  
DVD Talk Limited Edition
 
Hazel Motes's Avatar
 
Join Date: Aug 2009
Posts: 6,439
Received 53 Likes on 39 Posts
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.
Old 03-13-20, 12:54 AM
  #42  
DVD Talk Limited Edition
 
tanman's Avatar
 
Join Date: Jan 2001
Location: Gator Nation
Posts: 6,548
Received 52 Likes on 30 Posts
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.
Old 03-13-20, 12:57 AM
  #43  
DVD Talk Hero
 
slop101's Avatar
 
Join Date: Mar 2001
Location: So. Cal.
Posts: 40,830
Received 35 Likes on 29 Posts
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.
The following users liked this post:
Jack Straw (03-13-20)
Old 03-13-20, 01:02 AM
  #44  
DVD Talk Ultimate Edition
 
Join Date: Oct 2003
Posts: 4,178
Received 67 Likes on 47 Posts
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?
Old 03-13-20, 01:06 AM
  #45  
DVD Talk Ultimate Edition
 
phryzbe's Avatar
 
Join Date: Mar 2001
Posts: 4,023
Received 12 Likes on 6 Posts
Re: Stock Market Meltdown

Stock futures at +655 right now. Dead cat bounce.
The following 2 users liked this post by phryzbe:
eXcentris (03-13-20), Jack Straw (03-13-20)
Old 03-13-20, 02:08 AM
  #46  
DVD Talk Gold Edition
 
AaronHernandez's Avatar
 
Join Date: Jul 2013
Location: Bayside
Posts: 2,280
Received 13 Likes on 10 Posts
Re: Stock Market Meltdown

Originally Posted by zyzzle View Post
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
Old 03-13-20, 05:46 AM
  #47  
DVD Talk Godfather
 
DVD Polizei's Avatar
 
Join Date: Jan 2002
Posts: 53,124
Received 73 Likes on 55 Posts
Re: Stock Market Meltdown

Originally Posted by LurkerDan View Post
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.

Old 03-13-20, 06:35 AM
  #48  
Admin-MemeCat
 
VinVega's Avatar
 
Join Date: Nov 2000
Location: Caught between the moon and NYC
Posts: 32,553
Received 89 Likes on 53 Posts
Re: Stock Market Meltdown

Originally Posted by AaronHernandez View Post
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.
Old 03-13-20, 07:41 AM
  #49  
Moderator
 
nemein's Avatar
 
Join Date: Sep 1999
Location: 1bit away from total disaster
Posts: 34,198
Received 3 Likes on 3 Posts
Re: Stock Market Meltdown

Originally Posted by phryzbe View Post
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...
Old 03-13-20, 08:01 AM
  #50  
DVD Talk Godfather
 
DVD Polizei's Avatar
 
Join Date: Jan 2002
Posts: 53,124
Received 73 Likes on 55 Posts
Re: Stock Market Meltdown

Originally Posted by nemein View Post
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.

Thread Tools
Search this Thread

Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service - Do Not Sell My Personal Information

Copyright 2018 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.