Down goes the Dow

Maserati wrote:

Bummbull wrote:

This thread is always so quiet when market is doing well.

It’s hardly doing well. Recently it has been rocked, and the last 2 days are just making up for some of the losses incurred. Maybe minor corrections are necessary and a sign of markets doing well in the longer-term, IDK. Let’s hope the recent pullback is a sign of health and not weakness.

I'm just talking about today.

Bummbull wrote:

Maserati wrote:

It’s hardly doing well. Recently it has been rocked, and the last 2 days are just making up for some of the losses incurred. Maybe minor corrections are necessary and a sign of markets doing well in the longer-term, IDK. Let’s hope the recent pullback is a sign of health and not weakness.

I'm just talking about today.

I was passing on troll bait.

In regards to the market, a bounce off oversold levels. We closed above resistance at 3340. I would assume that this move is capped at around 3400 unless Congress passes a stimulus package.

Igy

Ghost of Igloi wrote:. I would assume that this move is capped at around 3400 unless Congress passes a stimulus package.

Igy

Coincidentally my projection for the end of the year was around 3400, if memory serves...

Happy belated birthday! And an early one to la gente!

Ghost of Igloi wrote:

Bummbull wrote:

I'm just talking about today.

I was passing on troll bait.

In regards to the market, a bounce off oversold levels. We closed above resistance at 3340. I would assume that this move is capped at around 3400 unless Congress passes a stimulus package.

Igy

If it's a bounce from oversold levels, sign me up! What a safe place to put our money in if the September's fall would count as being oversold.

Little sarcasm there.

But i am surprised that you would say the market has been oversold already. If you're saying this, then I should go all in with my money.

Anyways, I personally hope the market will nosedive even more. I'm still in the contribution phase so the more I fall, the cheaper I can buy more equity.

the idiot on the ipad wrote:

Ghost of Igloi wrote:. I would assume that this move is capped at around 3400 unless Congress passes a stimulus package.

Igy

Coincidentally my projection for the end of the year was around 3400, if memory serves...

Happy belated birthday! And an early one to la gente!

the idiot/SJW,

Thanks. We were at 3210 a couple of days ago. I am anticipating a move down to 2800 before the election. Market will find support there until it becomes apparent S&P 500 EPS will not recover to 2019 levels for years, with or without Fed intervention or Congressional stimulus.

Igy

Lol I love the unequivocally declarative tone.

Uhh.........ok!?

Maserati wrote:

Lol I love the unequivocally declarative tone.

Uhh.........ok!?

1. of the nature of or making a declaration.

Pretty sure 1. applies to Igy's statement.

You seem to be confusing declarative with definitive.

1. (of a conclusion or agreement) done or reached decisively and with authority.

"a definitive diagnosis"

The Unkle wrote:

Maserati wrote:

Lol I love the unequivocally declarative tone.

Uhh.........ok!?

1. of the nature of or making a declaration.

Pretty sure 1. applies to Igy's statement.

You seem to be confusing declarative with definitive.

1. (of a conclusion or agreement) done or reached decisively and with authority.

"a definitive diagnosis"

I suppose one can believe markets move up on hope or optimism. I would assume going down then on gloom and despair. Now with S&P 500 EPS at 2009 levels, 12 million unemployed, resurgence of Covid 19, V-shaped recovery dead, commercial real estate rolling over, debt exploding exponentially, etc. What is more logical boom or gloom? At this point anyway the trading appears more technically driven than emotionally.

Ghost of Igloi wrote:

The Unkle wrote:

1. of the nature of or making a declaration.

Pretty sure 1. applies to Igy's statement.

You seem to be confusing declarative with definitive.

1. (of a conclusion or agreement) done or reached decisively and with authority.

"a definitive diagnosis"

I suppose one can believe markets move up on hope or optimism. I would assume going down then on gloom and despair. Now with S&P 500 EPS at 2009 levels, 12 million unemployed, resurgence of Covid 19, V-shaped recovery dead, commercial real estate rolling over, debt exploding exponentially, etc. What is more logical boom or gloom? At this point anyway the trading appears more technically driven than emotionally.

Have you ever posted here showing some optimism for the markets in the coming days? It seems everything you post is gloom and doom. For 6 years gloom and doom. And you missed out on an incredible surge in the markets.

The Unkle wrote:

Maserati wrote:

Lol I love the unequivocally declarative tone.

Uhh.........ok!?

1. of the nature of or making a declaration.

Pretty sure 1. applies to Igy's statement.

You seem to be confusing declarative with definitive.

1. (of a conclusion or agreement) done or reached decisively and with authority.

"a definitive diagnosis"

Yup Unc you’re right, my bad!?

Sally Vix wrote:

Ghost of Igloi wrote:

I suppose one can believe markets move up on hope or optimism. I would assume going down then on gloom and despair. Now with S&P 500 EPS at 2009 levels, 12 million unemployed, resurgence of Covid 19, V-shaped recovery dead, commercial real estate rolling over, debt exploding exponentially, etc. What is more logical boom or gloom? At this point anyway the trading appears more technically driven than emotionally.

Have you ever posted here showing some optimism for the markets in the coming days? It seems everything you post is gloom and doom. For 6 years gloom and doom. And you missed out on an incredible surge in the markets.

OK, but I believe you will be very disappointed in how this turns out, and that will be your problem and not mine.

Ghost of Igloi wrote:

Sally Vix wrote:

Have you ever posted here showing some optimism for the markets in the coming days? It seems everything you post is gloom and doom. For 6 years gloom and doom. And you missed out on an incredible surge in the markets.

OK, but I believe you will be very disappointed in how this turns out, and that will be your problem and not mine.

I hope you’re right! That means more time to contribute and buy at lower prices.

Bummbull wrote:

Ghost of Igloi wrote:

OK, but I believe you will be very disappointed in how this turns out, and that will be your problem and not mine.

I hope you’re right! That means more time to contribute and buy at lower prices.

I suppose one can gain confidence from a system where the stock market is underwritten by cheap and plentiful liquidity. That should not engender an optimistic view that there will be no consequences.

Ghost of Igloi wrote:

Bummbull wrote:

I hope you’re right! That means more time to contribute and buy at lower prices.

I suppose one can gain confidence from a system where the stock market is underwritten by cheap and plentiful liquidity. That should not engender an optimistic view that there will be no consequences.

No, I want the market to go down just like you predict. I really hope you’re right as that’ll be a lot more opportunity to buy.

Don’t tell me that market has already been oversold.

Ghost of Igloi wrote:

I suppose one can believe markets move up on hope or optimism.

That’s not how it works. Try to keep up.

Middle of the night here, nervous. Debate was a human disaster. What to do? It is the end of the empire, an historic point in time, and we are here to see it. Fascinating, and scary.

I have to wonder if the likelihood of a BIden win isn't mostly factored into the market already? Polls have been showing a substantial lead by Biden. Maybe a positive, Dems always dig us out of the economic messes anyways (and notice that i didn't point any fingers there)./

seattle prattle wrote:Polls have been showing a substantial lead by Biden.

I expect Trump will get reelected, regardless of what the polls tell us. And I believe him when he says the election outcome will be illegitimate. Finally, I think mas has it right, we are watching a great nation slowly come apart. I hope I don't live to see it play out all the way to the end. And I'm not planning to move on soon...

All those predictions, with my forecast of ~ 3400 on SP500 for the end of the year thrown in for free, are worth something less than the $0.02 I'm charging... :-)

I don’t think a win by either has yet been factored in, but who knows. Everything seems tentative, which is disastrous. Really, either could win at this point.

I haven’t been this nervous, ever. This is no kind of environment in which to invest—or, increasingly, even to live.

Going back to bed, nice to know others are awake and doing good work, I am sure?