Maserati wrote:
It seems like just the nasdaq getting torched
yeah financials are up strong...+1.5%
I think this is a tech selloff - not a broad market crush
On the other hand, when tech is so much a portion of the SP500...hard to get any gains in the sp500 when tech is down much.
I own some dividend funds for days like this...DTD and VYM. Up today as the SPX is down.
Racket wrote:
agip wrote:
unemployment down to 8.4%...V shape, baby.
Kind of impressive but I think the doomers overplayed their hand a bit in the spring. A $20 trillion economy is not so easily felled.
230k temporary census workers included. Also: Private Payrolls Aug: 1027K (est 1325K; Previous months 1481k, 1462K)
Here comes a (the?) bounce
Maserati wrote:Here comes a (the?) bounce
meaow - ack!
Maserati wrote:
seattle prattle wrote:
Good one. A very solid growth stock that still allows you to sleep at night.
I doubled down on it at 122.
I did the same at 116.
Qs down 8% from their high now...2 days ago.
whooosh!
NASDAQ broke trend. Market should find support at S&P 500 down 10% from high, or about 3,250. Then battle for control between Bulls and Bears is more evenly balanced.
Broke 2/20 previous high of 3,389. Losses extended at that point.
the machines are mighty and strong in both directions
they'll keep selling for a while, I'd expect. Clearly they found a weakness in the market and they will exploit it for a while.
Bounce...not. Was a blip on my screen?.
Interesting. Not buying for the moment, but will buy when it looks like a bottom has been established.
Ghost of Igloi wrote:
Racket wrote:
Kind of impressive but I think the doomers overplayed their hand a bit in the spring. A $20 trillion economy is not so easily felled.
230k temporary census workers included. Also: Private Payrolls Aug: 1027K (est 1325K; Previous months 1481k, 1462K)
no one cares
agip wrote:
the machines are mighty and strong in both directions
they'll keep selling for a while, I'd expect. Clearly they found a weakness in the market and they will exploit it for a while.
meh - profit taking for the Labor Day yacht outing. This is just the kind of thing that happens now - tech rises by 30% with hardly any justification and then gets knocked out by 10% for no reason at all. Next month we'll probably be at an all time. That's just how 2020 works
Racket wrote:
agip wrote:
the machines are mighty and strong in both directions
they'll keep selling for a while, I'd expect. Clearly they found a weakness in the market and they will exploit it for a while.
meh - profit taking for the Labor Day yacht outing. This is just the kind of thing that happens now - tech rises by 30% with hardly any justification and then gets knocked out by 10% for no reason at all. Next month we'll probably be at an all time. That's just how 2020 works
Your future..... :-)
Boy did I pick ‘em right this time, or what? I have always believed that volatility rules, only this time I was too early. I picked the most volatile in this move, only they are still dropping. The most. Pypl, lol
I’m a little pissed that gdx and gdxj are down. Sure dxy is up, but not much.
10 days of buying NASDAQ wiped out in less than 2.
Ghost of Igloi wrote:
Racket wrote:
meh - profit taking for the Labor Day yacht outing. This is just the kind of thing that happens now - tech rises by 30% with hardly any justification and then gets knocked out by 10% for no reason at all. Next month we'll probably be at an all time. That's just how 2020 works
Your future..... :-)
You mean consistent 20% gains even in the face of the most epic headwinds to ever exist? Oh no, how will I ever survive. Literally the worst future ever.
Maserati wrote:
I’m a little pissed that gdx and gdxj are down. Sure dxy is up, but not much.
the miners are stocks and will trade like stocks...
the ETFs that track the metal itself are down just 40 bps. vs 400 bps for GDX.
I never quite understand the logic of buying the mining companies. If gold is meant to be a hedge...why buy stock in a company as a hedge?
I know they are leveraged and should rise more than gold rises but just seems to me a hedge should be a hedge.
Racket wrote:
Ghost of Igloi wrote:
Your future..... :-)
You mean consistent 20% gains even in the face of the most epic headwinds to ever exist? Oh no, how will I ever survive. Literally the worst future ever.
Good, you’ll get that house soon. Perhaps Martha’s Vineyard and a yacht in a decade.
:-)
If this sell off, after the good economic news we've seen, is BECAUSE of the good economic news we've seen....could be that the market had been pricing in trillions of new stimulus. And now, with a million jobs being added every month...the trillions won't come. The Rs might figure that the economy is doing fine already.
could cause a reshuffle.