In reply to STM317 :
Nice job – well said
In reply to STM317 :
Nice job – well said
Not looking good for monday:
https://money.cnn.com/data/premarket/
Will be interesting to see how the week shapes up. Could be a buying opportunity for aggressive investors.
"This too will pass." Look at it as a buying opportunity. Buy now. Buy next week. Buy a month from now. Then look at your portfolio next year.
I am 71 years old, and made it through 1987, 1999, 2008, and now. Stay the course. Buy the bargains. You will survive. Do not sell out!!!
In reply to Flynlow :
The oil drop is an interesting twist. Tomorrow will be interesting for sure.
mazdeuce - Seth said:In reply to Flynlow :
The oil drop is an interesting twist. Tomorrow will be interesting for sure.
That is athe understatment of the week.
Trying not to think to much about the losses right now but even my super stable cash equiies and RETI fund is down 7% on the year. Easy six figure loss off the start of the year all in and that is with me starting to selloff when we hit 28.5-29K. But buying in a week or so at a discount once everything calms down will make me feel better and I have plenty of time to make it back. I still think this is all very overblown on the virus front and its a bunch of fear mongering that got a bit out of hand.
wearymicrobe said:
I still think this is all very overblown on the virus front and its a bunch of fear mongering that got a bit out of hand.
While I agree the virus/fear mongering is absolutely overblown, I don't think the stock market drop is. I sold the majority of my stock last November after doing an informal survey that started with a discrepancy I saw in my own job. I called about 10 former classmates, and asked how their companies were doing (reasonable breadth of Fortune 500 companies represented). Every single one, without exception, was posting record profits while simultaneously cutting next year's operational, salary, and travel budgets. One of these things is not like the other, and it made me nervous enough to sell.
I don't think the past two weeks is overreaction to corona virus so much as it is a convenient pressure relief valve for companies to start being honest about what their quarterly results for 2020 are going to be. It just kicked in a few months sooner than expected and was a suitable scapegoat.
I'd like to be a fly on Jim Cramer's wall today.
Gary said:"This too will pass." Look at it as a buying opportunity. Buy now. Buy next week. Buy a month from now. Then look at your portfolio next year.
I am 71 years old, and made it through 1987, 1999, 2008, and now. Stay the course. Buy the bargains. You will survive. Do not sell out!!!
I'm trying to sell a bunch of random, superfluous crap to buy more stocks!
In reply to Flynlow :
The news tonight said the drop was due to the pissing match between Saudi Arabia and Russia over the price of crude.
just saw Mazduece already pointed this out.
In reply to spitfirebill :
There are some other feedback loops going on along with the oil. Brexit and Japan's economy contracting and Corona affecting the consumer sector worldwide to name a few. The oil thing was certainly a swift kick to the balls, but that doesn't mean that oil stabilizing will stabilize the market. This is an interesting thing to watch. In all honesty, the most concerning thing is the record low yields on treasuries. Where do you go when the 30 year is below 1%? It may change a bunch of conventional thought about asset allocation and all that. Maybe.
Man, I sold my Shell stock at the right time. I sold it to get fully out of individual stocks, and wholly into index funds. But now I'm feeling the siren song of those oil stocks that are on such super sales. The Shell dividend is now 11%! Eleven freaking percent!
I'm trying to repeat a mantra: I am not a stock picker, I am not a stock picker, ...
In reply to spitfirebill :
Yeah, Russia refused to slow production- no surprise, considering petroleum and NG production is basically propping up the Rubel. They really don't make or export a lot else.
So here's my question - if oil prices are the lowest they've been since 1991, how long do we have to wait for gas prices go to down a good bit?
Also watching the stock market is making me dizzy. Down 2014 points yesterday, futures are already up 1000 points today. It's wild.
infinitenexus said:So here's my question - if oil prices are the lowest they've been since 1991, how long do we have to wait for gas prices go to down a good bit?
Lot of taxes on gas not ever going to go down to that level and they will bounce back hard. Low oil prices are bad for stability in some ways as Russia and others use it as a gas cow for varies domestic payments.
Cat bounce today was 1K already and markets are not even started up yet.
Given that I have taken almost 11% on gains out of th market for the last 5.5 years give or take a correction was warranted, it had to happen. Markets are also reacting to news out of Target who had to pull all sorts of shinanigans to make the 15$ a hour rate work and ts not looking good for the actual employes.
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