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Dow falls 1,191 points -- the most in history

Mcfrank

Mcfrank

Member
Oct 28, 2017
15,202
Octodad said:
Why?! Mortgage rates are cheap, that makes no sense.
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I disagree. While I put money most of my money into 403b to my max and the index stocks after that, I also carve out a chunk to put toward my mortgage (at 3.75). While I know it is not the 100% best use of the money from a pure min/max perspective, the sense of freedom I get from knowing I will be somewhat young and have a paid off house is well worth it.
 
Logistic

Logistic

Member
Oct 30, 2017
490
Time in the market > timing the market

If you have money you "can't afford to lose" you need to rethink your risk allocation.

Stay the course, keep doing what you've been doing. If you're close to retirement, you should have been more heavily invested in bonds anyway and you were gambling.
 
TheHunter

TheHunter

Bold Bur3n Wrangler
Banned
Oct 25, 2017
25,774
TaterTots said:
This is largely in part to the Coronavirus, right?
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Yep.

The problem is
A) The leaderships and response to the virus are...lacking
B) China and its economic timebomb are still looming over all of us
C) Brexit fallout.

All three of those could lead to a meltdown. Emphasis on could.
 

Deleted member 8741

user requested account closure
Banned
Oct 26, 2017
4,917
Mcfrank said:
I disagree. While I put money most of my money into 403b to my max and the index stocks after that, I also carve out a chunk to put toward my mortgage (at 3.75). While I know it is not the 100% best use of the money from a pure min/max perspective, the sense of freedom I get from knowing I will be somewhat young and have a paid off house is well worth it.
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Fine. Nothing wrong with paying off your house, but his comment is "market is down, guess I'll make payments on the house." That's the worst time to do it.
 
Tom Penny

Tom Penny

Member
Oct 26, 2017
19,217
Logistic said:
Time in the market > timing the market

If you have money you "can't afford to lose" you need to rethink your risk allocation.

Stay the course, keep doing what you've been doing. If you're close to retirement, you should have been more heavily invested in bonds anyway and you were gambling.
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I was talking to women I work with today. Her dumb ass boyfriend put all his eggs in one stock and that was his retirement plan. Long story short he lost 300K so that plan is out the window..which means he had 300K and never took any gains at one time or another...just total incompetence.
 

Adventureracing

The Fallen
Nov 7, 2017
8,029
I think we still have further to drop and as I said in the other thread a further breakout in China or a breakout in the US would send the market tumbling.

I'm curious if this all blows over whether things will rocket back to where they were or if there will be some residual effects. I know at least here in Australia some businesses will be lucky to survive and there may be some lingering effects even it there is no pandemic and it all summers straight down.
 
lmcfigs

lmcfigs

Banned
Oct 25, 2017
12,091


it probably isn't healthy for news media to be panicking over stock market. not so long ago, they were panicking over the inverted yield curve
 
Sorian

Sorian

One Winged Slayer
Avenger
Oct 25, 2017
9,964
Tragicomedy said:
Or not. The market could collapse tremendously in the coming weeks/months, which would present a much better investment opportunity than now.

You know, quite literally, nothing more than I do on the matter.
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I don't care what the market is at, if you have money to invest, you should invest and doing otherwise would be stupid, simple as that. The fact that the market is a on a downswing is a bonus and if the market continues to downswing that is fine too for anyone investing responsibly.

I know that timing the market is a fool's game so maybe I do know more than you on the matter.
 
RedMercury

RedMercury

Blue Venus
Member
Dec 24, 2017
17,650
I'm kind of dumb on this stuff, I thought a shock kicked in at -1000 and trading was halted, did that happen here? I think there's like 3 different thresholds for it or something.
 

Mr.Awesome

Banned
Nov 4, 2017
3,077
Bamm_Bamm said:
LOl. He might as well have tweeted "Get out now everyone! There's blood in the water. NOW!!"

People who know is this the start of another great recession? Is it wrong that I want it to be just to fuck Trump?
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Were still only at about August 2019 levels. This isnt 2008 territory yet. The stock market has been skyrocketing the last few months, a correction was inevitable. Not this fast though, so we shall see what happens.
 

Mr.Awesome

Banned
Nov 4, 2017
3,077
RedMercury said:
I'm kind of dumb on this stuff, I thought a shock kicked in at -1000 and trading was halted, did that happen here? I think there's like 3 different thresholds for it or something.
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-7% is the first threshold (then 13 then 20). 1000 points these days is only about 4%, which is why points vs percentage should be pointed out. And also it's based on the sp, not the dow, so the equivalent is about 1/10 of the dow, roughly.
 

Deleted member 13188

Banned
Oct 27, 2017
1,970
Mr.Awesome said:
Were still only at about August 2019 levels. This isnt 2008 territory yet. The stock market has been skyrocketing the last few months, a correction was inevitable. Not this fast though, so we shall see what happens.
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Losing six months in a days trading seems bad tho. Part of me hopes it doesn't all crumble again cause that shit affected me first go around BUT...

... having nothing means I have nothing to lose! Sorry everyone but I hope it all burns so that orange turd gets properly fucked!
 

Mr.Awesome

Banned
Nov 4, 2017
3,077
Bamm_Bamm said:
Losing six months in a days trading seems bad tho. Part of me hopes it doesn't all crumble again cause that shit affected me first go around BUT...

... having nothing means I have nothing to lose! Sorry everyone but I hope it all burns so that orange turd gets properly fucked!
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Not all today, it's been since the start of last friday but yes that point still stands. Too fast. We saw a similar fall in December 2018, we'll see if we can recover like we did in Jan 2019. Difference being an unknown of a virus vs something controllable like a trade deal.
 
Red

Red

Member
Oct 26, 2017
11,644
TheHunter said:
Yep.

The problem is
A) The leaderships and response to the virus are...lacking
B) China and its economic timebomb are still looming over all of us
C) Brexit fallout.

All three of those could lead to a meltdown. Emphasis on could.
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We're in the dystopian future I always dreamed of.
 
a916

a916

Member
Oct 25, 2017
8,820
The DOW has climbed over the past 135 years from lows of $29 to nearly $30 000, people need to stop referencing points. As the number grows, it takes less and less percentage to drop more and more points.

SteveMeister said:
not even in the top 20 for percentage drops.
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Wikipedia has it as the 8th largest percentage drop.
 

Deleted member 13188

Banned
Oct 27, 2017
1,970
Mr.Awesome said:
Not all today, it's been since the start of last friday but yes that point still stands. Too fast. We saw a similar fall in December 2018, we'll see if we can recover like we did in Jan 2019. Difference being an unknown of a virus vs something controllable like a trade deal.
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Ah I see.

IMO the actual severity of the virus has been overblown but I suppose the market doesn't actually care about reality per se. If everyone thinks they're in a tinderbox and someone lights a match...
 

Mr.Awesome

Banned
Nov 4, 2017
3,077
a916 said:
The DOW has climbed over the past 135 years from lows of $29 to nearly $30 000, people need to stop referencing points. As the number grows, it takes less and less percentage to drop more and more points.



Wikipedia has it as the 8th largest percentage drop.
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Today? No way it's the 8th largest day drop ever. I would doubt it's in the top 50...
 
orochi91

orochi91

Member
Oct 26, 2017
9,801
Canada
Bruh

Just saw this thread

Immediately checked my small stock/tradings account and saw how close it was to shutting down

Had to inject a couple grand to keep it afloat.

This fucking virus, I swear to goddddd
 

Deleted member 18944

User requested account closure
Banned
Oct 27, 2017
6,944
I already pulled out and lost $5 total on investments. Going to gauge the dip tomorrow and Monday and make the decision to buy in bulk and play it out.
 
Chaotic-Strike

Chaotic-Strike

Member
Oct 25, 2017
11,089
TheHunter said:
Yep.

The problem is
A) The leaderships and response to the virus are...lacking
B) China and its economic timebomb are still looming over all of us
C) Brexit fallout.

All three of those could lead to a meltdown. Emphasis on could.
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It's kinda important having a competent president that can properly react to things and inspire confidence in case something does happens. Which is everything Trump is not capable of.
 
HipsterMorty

HipsterMorty

alt account
Banned
Jan 25, 2020
901
A few months ago I started working at a new employer. Did a rollover for about 60k and decided to put it all into a stability fund. Gonna start DCA into stocks tomorrow.really glad I made that choice! Only lost $2 today.
 
zero2000

zero2000

Member
Oct 28, 2017
262
I took out a 401k loan to help pay for part of my house down payment, knowing it would be paid back in the short term. This was about 4 months ago and I am paying it off tomorrow with my annual bonus. I was at +28%, but it went down to -16% since Monday. So....perfect time to throw all this money at it?
 
Malleymal

Malleymal

Member
Oct 28, 2017
6,286
I'm going to invest in stock, but I am thinking that we will have these issues and uncertainty for at least another few weeks to months
 
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