Put some diapers on first, though. :lulz:
The WHO just confirmed a global pandemic. Did it shit itself half an hour ago?
Quote from: Cain on March 11, 2020, 05:15:05 PM
The WHO just confirmed a global pandemic. Did it shit itself half an hour ago?
1200 points today alone (Dow), and the European and Asian markets are looking kinda sick. Like "forget the doctor, call a priest" kinda sick.
:peedee:
This is the monthly graph, which lets you see the scale.
Yeah, all joking aside that's pretty significant. Remember the UK is also poised to leave the EU in 9 months. If the pandemic isn't over by that point, we could see a global market downtown compounded by a No Deal Brexit.
I sold off a sizable portion of my portfolio about an hour ago, when I saw the covid-19 numbers for Germany.
Maybe the market will recover suddenly and I'll be left with a nice big capital loss tax deduction to apply in future years, but I think things still have a ways to drop.
Quote from: chaotic neutral observer on March 11, 2020, 05:50:24 PM
I sold off a sizable portion of my portfolio about an hour ago, when I saw the covid-19 numbers for Germany.
Maybe the market will recover suddenly and I'll be left with a nice big capital loss tax deduction to apply in future years, but I think things still have a ways to drop.
That's one strategy. The other is if you're in stocks, stay in stocks. Either they will come back or the economy is actually over and money will just be crappy asswipe.
If you are in bonds, punch yourself in the balls.
I kept the stocks in companies that are pretty solid, and aren't likely going anywhere unless civilization ends (and Coca-Cola might survive even that); I just trimmed out the underperformers and a couple of index ETFs. I plan to buy back the ETFs when the prices settle out ( the idea being sell low, buy lower).
I'm holding some bond ETFs, but their holdings are mostly government bonds, and if those default, I figure I'm screwed anyway.
Bear market has been declared.
Quote from: Suu on March 11, 2020, 08:43:12 PM
Bear market has been declared.
https://www.youtube.com/watch?v=UubmswRQblM
Somewhat disappointed in that choice of video. I would have gone with this (https://www.youtube.com/watch?v=D0vrsxg0naA).
Quote from: Cain on March 11, 2020, 10:45:30 PM
Somewhat disappointed in that choice of video. I would have gone with this (https://www.youtube.com/watch?v=D0vrsxg0naA).
:argh!: :lulz: :lulz:
https://www.nbcnews.com/business/markets/dow-hits-bear-market-plunging-more-1-600-points-n1155696?fbclid=IwAR2msY6iwinIw7AfngFN_4Q0T4k30DYlcxOrTYb7gnwzk2HBAXDS4k_3xNw
Quote from: Cain on March 11, 2020, 10:45:30 PM
Somewhat disappointed in that choice of video. I would have gone with this (https://www.youtube.com/watch?v=D0vrsxg0naA).
IS MY FAVORITE BEARS
Quote from: Cain on March 11, 2020, 10:45:30 PM
Somewhat disappointed in that choice of video. I would have gone with this (https://www.youtube.com/watch?v=D0vrsxg0naA).
:golfclap:
Bitcoin is below the cost of mining, might be the end of that.
The S&P 500 dropped 7% as the market opened for the day, and the NYSE automatically suspended trading for 15 minutes.
If it drops 20%, trading is suspended for the rest of the day.
Quote from: chaotic neutral observer on March 12, 2020, 01:45:09 PM
The S&P 500 dropped 7% as the market opened for the day, and the NYSE automatically suspended trading for 15 minutes.
If it drops 20%, trading is suspended for the rest of the day.
We are about to witness a fully armed and operational true Black Friday, only instead of people dying over TVs, they're going to be throwing themselves out of buildings again.
It's embarrassing to see financial news sites trying to approach this using technical analysis.
Technical analysis has limited application at the best of times, but this is like trying to use small-signal approximations to model a lightning strike. All you can count on is the ear-shattering boom.
https://apnews.com/f4dec5de0bcb4d32a1e28ada66e2fc6f
Wow, it's a long way down. You could make a cup of tea while you fell.
the stock market is my favorite organized human behavior. in the best of times, we kinda-sorta understand what's happening (if we don't look too closely), but in the worse times it's plainly evident to everyone involved exactly what is happening, and yet we are powerless to control ourselves to stop it. like right now: everyone is scared of this pandemic and is scrambling for safety, which means selling anything that moves to anyone who will take it, and this is going to create a major problem for everyone, and we know that, but the instinct to be spooked outweighs all our globally combined foresight.
is this a good time to buy stocks, or should we wait for people to start jumping out Wall St windows?
Quote from: Cramulus on March 12, 2020, 05:51:28 PM
is this a good time to buy stocks, or should we wait for people to start jumping out Wall St windows?
If you give me a few weeks, I can tell you whether or not now would have been the best time to buy.
Now is a better time to buy than the immediate past was, but I expect the market has a way further to drop. The point when the rate of new c19 cases begins to decrease (a bit before the number of current cases hits a maximum) might mark the turning point; but so could dozens of other factors.
The advice I've been giving people is "wait one week, then see if it's still falling." There's no way it isn't going to drop anymore at all, and if it builds back up over the course of a week you still have a pretty decent discount, because the crisis is ongoing.
Chances are it will still be in free fall, I think. In which case you might want to just start buying a bit every day until the plunge stops and reverses, then hold for the market recovery.
How is Monsanto doing? Are they down? Please tell me they're down. What about Halliburton? Phillip Morris? Nestle? They can all go to Hell.
Quote from: Prelate Diogenes Shandor on March 13, 2020, 12:39:33 AM
How is Monsanto doing? Are they down? Please tell me they're down. What about Halliburton? Phillip Morris? Nestle? They can all go to Hell.
:tyra:
Well excuse me for looking for a silver lining
Fine lets go out and celebrate these companies' continued existence by partaking of Nestle's hot chocolate made with third world slabe labor and Phillip Morris' dangerous drugs that don't even get you high. Because apparently that's what you all are into now.
Quote from: Prelate Diogenes Shandor on March 13, 2020, 03:41:01 PM
Well excuse me for looking for a silver lining
Fine lets go out and celebrate these companies' continued existence by partaking of Nestle's hot chocolate made with third world slabe labor and Phillip Morris' dangerous drugs that don't even get you high. Because apparently that's what you all are into now.
:tyra:
I'm going to smoke a whole fucking pack of American Spirits while gorging myself on Crunch bars JUST TO SPITE YOU PERSONALLY, PDS.
I hope your sewage line backs up overnight and you don't notice for hours that your house is full of poo. A fitting fate, given that's what you just did to all of us.
IN THE EVENT OF A WATER LANDING, WELL, IT WAS NICE KNOWING YOU
https://apnews.com/bd3276744b861e2669fd761733e9d2b4
Dow drops 3000 this afternoon.
That was before or after the massive stimulus and negative interest rate announcement?
After... Oh god...
Mr. Market, that whimsical and sometimes erratic personification of the average investor, is currently running down the street with his pants over his head, screaming lurid haiku through the leg-holes.
Quote from: Doktor Howl on March 16, 2020, 08:22:51 PM
IN THE EVENT OF A WATER LANDING, WELL, IT WAS NICE KNOWING YOU
https://apnews.com/bd3276744b861e2669fd761733e9d2b4
Dow drops 3000 this afternoon.
Second largest percentage drop of the DJIA ever.
Quote from: President Donald J. Trump
Great Depression, huh? Hold my overcooked ketchup covered steak.
...Well this is my stop.
Said we would get here.
Tried to warn some folks.
Guess I'll go fuck myself.
:enough:
Quote from: Faust on March 16, 2020, 08:26:52 PM
That was before or after the massive stimulus and negative interest rate announcement?
After... Oh god...
This is of course only partially caused by the plague and the Russian/Saudi oil war. Call it 20% combined.
Everything's fine, the financial news is saying the markets are "bouncing back" (after historic losses, but shh). Everything is fine, crisis averted.
Quote from: tyrannosaurus vex on March 17, 2020, 03:00:29 PM
Everything's fine, the financial news is saying the markets are "bouncing back" (after historic losses, but shh). Everything is fine, crisis averted.
Just in case there are people who have not heard the phrase, "dead cat bounce."
Quote from: Wikipedia
In finance, a dead cat bounce is a small, brief recovery in the price of a declining stock.[1] Derived from the idea that "even a dead cat will bounce if it falls from a great height",[2] the phrase, which originated on Wall Street, is also popularly applied to any case where a subject experiences a brief resurgence during or following a severe decline.
https://en.wikipedia.org/wiki/Dead_cat_bounce
Quote from: PopeTom on March 17, 2020, 04:44:36 PM
Quote from: tyrannosaurus vex on March 17, 2020, 03:00:29 PM
Everything's fine, the financial news is saying the markets are "bouncing back" (after historic losses, but shh). Everything is fine, crisis averted.
Just in case there are people who have not heard the phrase, "dead cat bounce."
Quote from: Wikipedia
In finance, a dead cat bounce is a small, brief recovery in the price of a declining stock.[1] Derived from the idea that "even a dead cat will bounce if it falls from a great height",[2] the phrase, which originated on Wall Street, is also popularly applied to any case where a subject experiences a brief resurgence during or following a severe decline.
https://en.wikipedia.org/wiki/Dead_cat_bounce
Already covered that.
Quote from: chaotic neutral observer on March 11, 2020, 07:44:57 PM
I'm holding some bond ETFs, but their holdings are mostly government bonds, and if those default, I figure I'm screwed anyway.
Note that a sudden decrease in the liquidity of the bond market has made holding bond ETFs--even supposedly
safe ones--a rather questionable idea. :sad:
They're not down as much as the overall market, but ... yeowch.
Yeah I think I pulled all of my stuff out of the market JUST at the right time (mid January). Funny how treating ETFs as a savings account works to my benefit, even once I lose my job and have a few months without work.
And when this job hits, I'll do the same thing I did before: throw a fixed amount and anything left over into ETFs each month, and pull stuff out for emergencies and big purchases.
Sure, for awhile my "savings" will be a wasteland of magically disappearing money, but I'll stand to gain quite nicely in ten years, assuming this job and the training from it keeps me doing okay for that long.
Starting at the beginning of last week, I began the process of buying back in, about the same dollar value each day, always in the last hour before the market closes, regardless of the price. (Sort of a high-frequency dollar cost averaging).
I plan on continuing this until I run low on capital, or I lose my nerve.
Quote from: chaotic neutral observer on March 25, 2020, 10:56:15 PM
Starting at the beginning of last week, I began the process of buying back in, about the same dollar value each day, always in the last hour before the market closes, regardless of the price. (Sort of a high-frequency dollar cost averaging).
I plan on continuing this until I run low on capital, or I lose my nerve.
Moloch is pleased by your act of faith in The Line. Just don't forget where and who it came directly from
His name is Moloch.
He usually eats the young
In exchange for "prosperity"
In a future you may never see.
But these are tough times
And apparently he is now
Accepting the elderly,
Additionally.