Stock market on fire

[ma96782]

I tried to make POST #184.....a simple illustration.

Then you were one of the lucky ones if quantifying your losses in that time frame takes research. For those of us who had our assets tied up in business's in that time frame, the losses were very clear on a progressive daily basis in the hundreds of thousands of dollars until a lot of us had no business's left. Right before our eyes. Took a little longer than this last sh*t show, but was devastating to say the least. Millions of dollars and jobs gone, most never returned.

And as we watch the same thing happen all over again, the history deniers are screaming and flopping around like a bunch of toddlers denied their fruit wraps at snack time.

And.....internet and not to mention perhaps your particular business was "out dated and/or not in vogue" with the times?

Anyway.....YES, there have been many trials and changes throughout the years. But to some.....
No matter what.....it remains a truth.

ANYTHING and EVERYTHING BAD THAT HAPPENS IS TRUMP's FAULT.

Aloha, Mark

 

[Jooky111]

The market is back up today. We will see how it does today and next week.

Does trump get blamed for this too?

 

[The Heretic]

Does trump get blamed for this too?

As much blame as I gave him credit for it being up.

 

[ma96782]

I don't blame Trump or the dems for CV-19 - although I don't think Trump did a good job and actually caused some harm. Most of the lockdowns/etc. were local, not federal but I don't think much more could have been done to prevent the issues one way or the other - by anybody. I lost my job. I have relatives whose businesses are still shutdown. My brother's previously thriving business cut back by at least a third. It is a mess.

The recent riots - those are another cluster f***. The rioters caused them, and the reactions were/are on the heads of the mayors of the cities - both ways. There were under-reactions and over-reactions. Trump's reactions would be comical if they weren't so inept. So plenty of blame to go around.

Yup.....agreed that there is plenty of blame to go around.

BUT.....

ANYTHING and EVERYTHING BAD THAT HAPPENS IS TRUMP's FAULT.

Aloha, Mark

 

[CoastRange57]

And.....internet and not to mention perhaps your particular business was "out dated and/or not in vogue" with the times?

I don't know where you pulled that from since you have no clue about what my business was. But since you seem to know so much about it, why not enlighten us all with your business model of a perfect business that would not be "outdated and/ or not in vogue" and be able to withstand without damage or modifications and maintain perfect profitability through an economic recession as bad as 2008 - 2009 ??

I will take your answer on the air please. I am anxious to try your model out in these economic times, and you should be able to make a sh*t ton of money scaling it.

 

[sobo]

Wham. Lost about $13K+ in valuation since Monday - in my IRAs alone. Probably another $2-3K in my 401K.

Checked in on mine this morning...
For my IRA, I'm up only $300 since the end of May. It went up about $3,000 from 6/01 - 6/08, then down about $2,700 from 6/09 thru yesterday's close.
For my 401(k)s, I'm up $1,500 since the end of May. They went up about $19,000 from 6/01 - 6/08, then down about $17,500 from 6/09 through yesterday's close.

None of this surprises me. Markets are just volatile. I'm not going to become a millionaire overnight using the stock market, and I accept that. I'm playing a long game...

On the bright side, I'm still up for the year overall. By 1/3 of 1%...

 

[Jcon268]

I definitely bought in the wrong week lol, but you know, as fast as things dropped, they spiked rather quickly, and if we put things in perspective, a large chunk of the country is still locked down, as those tensions loosen, anticipation will pick back up again.

and the biomed companies didn't make enough off the covid vax race yet to really warrant opening the country
I think it will be in a state of flux from here...pushing up on optimism and downpush from more lockdown "threats" or at least suspended opening.

 

[The Heretic]

Well, my accounts finally got their total amounts sorted out. I must have been down more than I thought because the totals went up and I am still down ~$14K between my 401K and my IRAs after yesterday.

I guess the market hit the "roof" this time, instead of the floor. Hopefully we can get back to that high so I can go to cash. At this point, I need to make sure I can pull cash to pay for med bills if I need to. Going to put them on my credit card (I get Amazon reward points if I do) and then pay that off when it comes due - I have the cash, but when someone goes into for a procedure, you never know what can happen, they can wind up in ICU, so I like to have reserves.

 

[wired]

I flush $2000 a month into my IRA. I don't look at it and don't care all that much. Maybe something will be there when I retire. I loath the day I retire and it is NOT something I look forward to. The Stock Market has nothing to do with the President and the DOW does not represent the economy as a whole.

 

[American123]

Well, my accounts finally got their total amounts sorted out. I must have been down more than I thought because the totals went up and I am still down ~$14K between my 401K and my IRAs after yesterday.

I guess the market hit the "roof" this time, instead of the floor. Hopefully we can get back to that high so I can go to cash. At this point, I need to make sure I can pull cash to pay for med bills if I need to. Going to put them on my credit card (I get Amazon reward points if I do) and then pay that off when it comes due - I have the cash, but when someone goes into for a procedure, you never know what can happen, they can wind up in ICU, so I like to have reserves.

Some credit cards give you 0% on all purchases for the first whole year you have them, might help.

 

[The Heretic]

Some credit cards give you 0% on all purchases for the first whole year you have them, might help.

Mine gives me 0% for 4 years or something like that IIRC - had an email to that effect IIRC. Not really interested. I do not want that debt hanging over my head if I can in any way avoid it, not when I have cash. BTDT with debt. I have a mortgage and I can't avoid that, but no other debt for me unless it is unavoidable.

 

[arakboss]

Futures are hinting at another rough day ahead.

Dow futures plunge nearly 800 points as Wall Street looks set to extend last week's sharp losses

The early morning trading action in futures market followed a big pullback last week.

www.cnbc.com

 

[The Heretic]

It is happening as I predicted and for the reasons I predicted, just a LOT sooner than I predicted.

 

[Oregonhunter5]

There money to be made by the savvy traders.
I'm not one of those kind. I like to put the 20% in each month and ride it.

 

[American123]

Eh, personally I just wonder how much of the stock market is just responding to more people burning down buildings because another person was shot by police. I predict improvement again as the country continues to open back up, the stranglehold of Coronavirus will lose its grip eventually and as more people can go out and do the things they like doing that will also ease up on the rioting because there won't be so many people with idle hands. Pretty easy to have a large movement when 14% of the workforce is not working and many are quite literally bored as heck and looming for an excuse to get outside and interact with others.

Got to love our media though, if you listen to them, it's all terrible, all the time and getting worse.

 

[The Heretic]

It is interesting how the media can read the minds of traders and trading algorithms when they make up these headlines and write the articles.

Sure, it is probably an educated guess, but still...

 

[American123]

It is interesting how the media can read the minds of traders and trading algorithms when they make up these headlines and write the articles.

Sure, it is probably an educated guess, but still...

Consider in the span of the past 2 days, another person (the type of person that riots happen when they are shot by a specific color of policeman) was killed by police, another building was burned down where it took place, and then people spilled out onto the freeway and block all lanes for a period of time. That's probably going to have an affect when it is considered with all the other additional tension right now.

I'm sure there are other people genuinely concerned about the largest city in Washington becoming more and more lawless and allowing agitators/combatants to claim "turf" and hold it without seemingly any plan to disperse this ridiculousness.

It's anyone's guess, and I am far from a seasoned stock market analyzer, but a lot of people are genuinely scared right now and don't know what the future will hold and are probably trading / selling accordingly. It would be very interesting to do a alternate reality comparison if we didn't have race riots happening and were still in "relatively peaceful" social distancing instead.

 

[The Heretic]

20-Year-Old Robinhood Customer Dies By Suicide After Seeing A $730,000 Negative Balance

Amid the wave of newcomers to what has become a casino stock market, a novice options trader takes his own life.

www.forbes.com

 

[Medic!]

I wish I could go back to 20 years old.
Even flat broke.

 

[American123]

20-Year-Old Robinhood Customer Dies By Suicide After Seeing A $730,000 Negative Balance

Amid the wave of newcomers to what has become a casino stock market, a novice options trader takes his own life.

www.forbes.com

This to me is no more as noteworthy as a guy killing himself because his girlfriend broke up with him (happens). Sad for him, sad for the family, but the conscious decision to commit suicide is something that cannot be easily prevented - even if you strapped them down for a period of time so that they couldn't be a danger to themselves or others, they have to adopt the mentality that their life is worth living, otherwise, for them, it won't be and it will still happen.