Down goes the Dow

This is probably trumpist corruption. And I'm not a conspiracy theorist.

yesterday was the highest volume in around 5 years at the nasdaq.

And hey guess what happens today. A giant surprise to the upside in government data.

Easy to guess that someone in the government had the numbers early and made large buys.

https://twitter.com/hmeisler/status/1268666860851134467?s=20

3200 today? 1500 sure seems a long ways off... :-)

BTW, I've sold 10% of my equity stake today.

Well at least you sold 10%.

https://twitter.com/NorthmanTrader/status/1268914842884345858

Ghost of Igloi wrote:

https://twitter.com/hussmanjp/status/1268896888251695110

Really amazing how the bears do this.

Every freaking single time when they are proven wrong they have some form of 'well who would have thought the Fed/Government would have done X to save the markets?'or "$X b/trillion buys a pretty big party.'

You'd think after the 15th time they had to say this they would figure out that it will happen again and again and again.

But they won't figure that out.

Market cap to GDP 150+%. A good reason to be bullish. Boy is Buffett stupid.

:-)

the idiot wrote:

3200 today? 1500 sure seems a long ways off... :-)

BTW, I've sold 10% of my equity stake today.

I dumped a third of my gold position today. Made a fortune on it. Gold is up 28% over a year.

I own pretty much all the stocks I want to own - 60%. Not selling.

I am still underweight on bonds...I have that money in an online savings account making more than a 10 year treasury.

the idiot wrote:3200 today? 1500 sure seems a long ways off... :-)

BTW, I've sold 10% of my equity stake today.

If I recall correctly, I had started selling off to cash as we crested around 3200 the first time, before the world went all topsy turvy...

meanwhile, Vanguard.com appears to be down and schwab is way behind in trade confirms.

Melt up!

The mirror image of those -10% days in March and April.

agip wrote:

meanwhile, Vanguard.com appears to be down and schwab is way behind in trade confirms.

Melt up!

The mirror image of those -10% days in March and April.

Ameritrade working perfectly. Made two trades and already blew through my short term targets. Will hold them, though, like all the buys i've done in the last month.

I'm not selling.

agip wrote:

meanwhile, Vanguard.com appears to be down and schwab is way behind in trade confirms.

Melt up!

The mirror image of those -10% days in March and April.

Like I said, the time to buy was in March and April. If you didn't buy, then you'll have to wait 10 years for the next buying opportunity.

Well, like I've said, staying in the market and continue to invest portion of my paycheck is working well.

As runners here, we all should know that Rome wasn't built in a day. You don't run your best just by doing some workouts. It's the consistent work that need to be put in to be successful long term.

Don't be listening to Ghost of Igloi. Or, don't listen to people who consistently try to time the market. There were people on this thread like PRD stating like it's a fact that market was gonna go down a month ago, but now has changed his tune that it won't crash now. Yea, timing the market cost him some money. A lot of people were listening to people who got the timing right of the crash back in March and the people who timed the crash correctly, a lot of them were saying to slowly buy back into stocks, but don't rush it as the recovery was going to be long. Well, the people who may have timed the initial crash correctly may have missed out on buying back right away thinking that the recovery was going to be longer.

Follow the Flagpole way. It's boring and you won't get rich quickly, but it will surely pay off in the long run.

I think the biggest issue is with people trying to time the market is that they're still young and don't have much money built up so they're trying to get rick quickly. However, if they would just stick to a plan and continue to be invested, in no time, the investment will start to snowball and get larger and larger. I don't want to sound like a know it all though. I'm saying these things from my own experience as well. As when I was younger, I stupidly took out some of my 401K to pay off my car loan as I didn't want to have any debt. I think having no debt is not a bad thing, but smart thing for me to do was not to buy the car in the first place. But since I've already bought it, I should have never taken out my 401K to pay it off and just slowly pay off my debt. That $15K that I took out, it could be worth around $200K-$300K by the time I'm 60.

I just hope the younger people on here don't keep reading this thread and continue to time the market and lose out on a lot of money.

SPX is flat for 2020 now.

Geez. Who would have thought.

WTF.

Racket wrote:

agip wrote:

meanwhile, Vanguard.com appears to be down and schwab is way behind in trade confirms.

Melt up!

The mirror image of those -10% days in March and April.

Like I said, the time to buy was in March and April. If you didn't buy, then you'll have to wait 10 years for the next buying opportunity.

you predicting that markets will not be much higher in 2030? over today?

seattle prattle wrote:

agip wrote:

meanwhile, Vanguard.com appears to be down and schwab is way behind in trade confirms.

Melt up!

The mirror image of those -10% days in March and April.

Ameritrade working perfectly. Made two trades and already blew through my short term targets. Will hold them, though, like all the buys i've done in the last month.

I'm not selling.

schwab is trading fine just not sending confirms.

I can't get into vanguard.com.

agip wrote:

seattle prattle wrote:

Ameritrade working perfectly. Made two trades and already blew through my short term targets. Will hold them, though, like all the buys i've done in the last month.

I'm not selling.

schwab is trading fine just not sending confirms.

I can't get into vanguard.com.

I don't know if ameritrade is sending confirms, and now that you mention it, i didn't see one for either trade, but it did show up in the HISTORY section immediately and that's all i care about. Not being able to get in Vanguard is really not good.

On another note, how are we ever going to go back to the old normal? A new once in a generation event happening every week.

ALong those lines, i am very very happy to hear the news about the unemployment numbers, and not for its impact on the markets, but for what it means for some of those hurting the most.

agip wrote:

Racket wrote:

Like I said, the time to buy was in March and April. If you didn't buy, then you'll have to wait 10 years for the next buying opportunity.

you predicting that markets will not be much higher in 2030? over today?

I'm just saying buying opportunities come only once every decade or so now,m and the window of opportunity gets smaller each time.

1999-2001

2008-2009

March/April of 2020

Next one will be like 3 days in 2030 or so.

Racket wrote:

agip wrote:

you predicting that markets will not be much higher in 2030? over today?

I'm just saying buying opportunities come only once every decade or so now,m and the window of opportunity gets smaller each time.

1999-2001

2008-2009

March/April of 2020

Next one will be like 3 days in 2030 or so.

What are the prospects for a V-shaped recovery? How are businesses doing where you live? Boise, Idaho was one of the fastest growing areas in the country prior to Covid 19. The state has been opened in some fashion for five weeks. I went to a restaurant for the first time on Wednesday. Employees about 25%, customers about 10% prior levels. The restaurant opened a new location at the start of the year, and has yet to re-open. YMCA about 5% the normal employees, and about the same for members. The YMCA opened a new branch about a year ago. Both businesses made what appears to be poor capital investments. I see other more marginal restaurants or gyms in a more precarious position. In regards to Covid 19, we are hitting the highest numbers in over a month; double what they were two weeks ago. I doubt our economy will be shut down again, but rising infections can’t possibly be good for consumer confidence.

Several states that opened early are seeing an increase in Covid cases. Combine the newly freed consumers with the covidiots who chose to ignore the rules and you have the makings for a second wave. Fortunately I am in a state with an intelligent governor.