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Stock Market Watch |OT| I've stocked up on market watches, what now?

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Combo

Combo

Banned
Jan 8, 2019
2,437
GYODX said:
You are just now learning that most people have 401(k)s and IRA accounts that they contribute to?
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I am not American, thus I don't involve myself with that. And I am not addressing them. I am addressing mid-term speculators. If you are buying for years ahead, then fair enough. It's not a bad idea.

Notice that the title of this thread implies something more short-term than retirement funds.
 
GYODX

GYODX

Member
Oct 27, 2017
7,265
Combo said:
I am not American, thus I don't involve myself with that. And I am not addressing them. I am addressing mid-term speculators. If you are buying for years ahead, then fair enough. It's not a bad idea.

Notice that the title of this thread implies something more short-term than retirement funds.
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401(k)s and IRA funds are ultimately invested in the stock market. If the Dow is down, chances are that so is your 401(k). Short term speculation is obviously very risky, but I don't think most people in this thread are doing that, apart from maybe a couple thousand dollars in 'fun' money.
 
Combo

Combo

Banned
Jan 8, 2019
2,437
GYODX said:
401(k)s and IRA funds are ultimately invested in the stock market. If the Dow is down, chances are that so is your 401(k). Short term speculation is obviously very risky, but I don't think most people in this thread are doing that, apart from maybe a couple thousand dollars in 'fun' money.
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If the Dow is down 10% over a few days, then I am not going to care much if I am retiring in 30 years time. Market watching is normally done by people who are looking at short to mid term gains.
 

Deleted member 4367

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Oct 25, 2017
12,226
Combo said:
If the Dow is down 10% over a few days, then I am not going to care much if I am retiring in 30 years time. Market watching is normally done by people who are looking at short to mid term gains.
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The market response to the coronavirus is pretty novel for lots of people. We are following it because it is interesting and group support for seeing our retirement accounts take a little dive.
 
Pwnz

Pwnz

Member
Oct 28, 2017
14,279
Places
TitlePending said:
Yea, I'm not seeing how additional liquidity is going to do anything meaningful in the face of significant impacts to manufacturing, travel, and hospitality industries. But glad to see the number of new cases in China are starting to decrease.

Just to get a visual representation of how serious China was affected in February... That big yellow blob on the left is pollution.

rmq2hk2suz9ror1genwx.png


earther.gizmodo.com

China's Air Pollution Rates Plummet After Coronavirus Lockdown

Y-....yay? I guess?
earther.gizmodo.com earther.gizmodo.com
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Right, and China seems to be containing it but with something like 50 million people confined to their homes. Good luck doing that in the US. I'm guessing we won't spread as fast as China because outside of Manhattan and a few other cities there isn't the same pop density and mass transit. But I think due to our liberties it'll keep spreading. Much more like the Flu than what China is seeing.

We really need that vaccine.
 
Combo

Combo

Banned
Jan 8, 2019
2,437
Yaboosh said:
The market response to the coronavirus is pretty novel for lots of people. We are following it because it is interesting and group support for seeing our retirement accounts take a little dive.
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Fair enough. It is an interesting thing. I have pension funds, but I too watch the stock market for reasons other than that.
 
WestEgg

WestEgg

One Winged Slayer
Member
Oct 25, 2017
14,050
Over/under on Robinhood being functional by the end of the day? Or even tomorrow?
 
dingobingo

dingobingo

Banned
Dec 5, 2017
2,099
Seriously, fking disgrace. I'm usually very patient and understanding since I work and support complex software, but this shit is on another level. You cannot crash with people's money like this. I'm actively looking for a new app.
 

Deleted member 4367

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Oct 25, 2017
12,226
Too bad you can't buy puts of Robinhood. It would be funny to use their app for that. Stupid private companies.
 
Addie

Addie

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Member
Oct 25, 2017
8,789
DFW
I filed my taxes today (owed $3,500, which I didn't expect -- that meant 2019 was better than I thought).

I also contributed $6000 to my Roth for the first time in years, since I confirmed that my MAGI was finally under the income limit. Not really playing the boom or bust with retirement money, but we're in something of a dip, so it seemed a decent time.
 

reKon

Member
Oct 25, 2017
13,892
I'm like the 24,500 person in line for their cash account, lol..

I don't know how I feel about moving a portion of my emergency saving here from Ally anymore.

I was kind of contemplating eventually making more use of Robinhood for quicker buying opportunities and eventually just transferring shares over to my M1 Finance account (M1 Finance has only 1 trading window, unless you sign up for the M1 Plus account, which has an annual fee).

Charles Schwab looking good right about now...
 
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WestEgg

WestEgg

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Member
Oct 25, 2017
14,050
ecnal said:
+1 for Schwab.

Do not use brokers like Robinhood, FFS.
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I have my actual retirement funds with Principal because that's what my employer uses/contributes to, but is Schwab good for more casual investing? Like, can you also do free trades in relatively small amounts like Robinhood?
 
ecnal

ecnal

Member
Oct 27, 2017
180
WestEgg said:
I have my actual retirement funds with Principal because that's what my employer uses/contributes to, but is Schwab good for more casual investing? Like, can you also do free trades in relatively small amounts like Robinhood?
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Yes, Schwab has free trading for standard trades, and I believe they still charge 65 cents per options contract.

FWIW, the industry has moved heavily toward fee free trading in the past year or so -- including bigger brokers like Schwab.

dingobingo said:
Dude the robinhood app on ipad and phone is so slick and clean. Seriously, if Schwab or another ap is as approachable I would have moved
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No doubt that Robinhood's app is slick, but they're not a reliable broker at this point; everyone should be aware that they've had issues executing simple trades at various points in time.
 
dingobingo

dingobingo

Banned
Dec 5, 2017
2,099
ecnal said:
Yes, Schwab has free trading for standard trades, and I believe they still charge 65 cents per options contract.

FWIW, the industry has moved heavily toward fee free trading in the past year or so -- including bigger brokers like Schwab.



No doubt that Robinhood's app is slick, but they're not a reliable broker at this point; everyone should be aware that they've had issues executing simple trades at various points in time.
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Fair feedback
 
Davidion

Davidion

Charitable King
Member
Oct 27, 2017
6,210
Yeah I think I can trade on Robinhood, but I'm not looking to do that when I can't see the aggregate of my portfolio activity.

Time to find another application!
 

QuigleyMcShine

Member
Jan 29, 2018
9,451
I only have like $700 of fun money in Robinhood and I wasn't going to touch it today anyway but it's nuts that it was unusable all day. That $75 account transfer fee is probably going to hold me hostage though since it's a tenth of my balance.

Edit: for those looking for alternatives, Vanguard introduced comission free 5rades at the beginning of this year. That's where the bulk of my investments are.
 
lt519

lt519

Member
Oct 25, 2017
8,064
QuigleyMcShine said:
I only have like $700 of fun money in Robinhood and I wasn't going to touch it today anyway but it's nuts that it was unusable all day. That $75 account transfer fee is probably going to hold me hostage though since it's a tenth of my balance.

Edit: for those looking for alternatives, Vanguard introduced comission free 5rades at the beginning of this year. That's where the bulk of my investments are.
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There's a $75 initial transfer fee? lol, what a rip off.

Edit: oh, outgoing, still ridiculous
 
WestEgg

WestEgg

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Member
Oct 25, 2017
14,050
QuigleyMcShine said:
I only have like $700 of fun money in Robinhood and I wasn't going to touch it today anyway but it's nuts that it was unusable all day. That $75 account transfer fee is probably going to hold me hostage though since it's a tenth of my balance.

Edit: for those looking for alternatives, Vanguard introduced comission free 5rades at the beginning of this year. That's where the bulk of my investments are.
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At that point you may as well cash out and just reinvest clean into the new account.
 

Deleted member 11822

user requested account closure
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Oct 27, 2017
2,644
Wow I just got an email from Robinhood about the outage this morning [I don't use them anymore]. That's fucked up.
 
lt519

lt519

Member
Oct 25, 2017
8,064
Davidion said:
To be fair it seems like this may be common across most online brokerages. ETrade and Schwab also has this.
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Pretty sure that's not true with Schwab. There's no account closure fee I'm aware of and I've never been hit with a fee for transferring in/out of my external savings account.
 
WestEgg

WestEgg

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Oct 25, 2017
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When you probably would have sold earlier in the day if it weren't for Robinhood crashing, but the market rallies at the end of the day, meaning you probably are better off because you couldn't trade:

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lt519

lt519

Member
Oct 25, 2017
8,064
Davidion said:

Charles Schwab

www.schwab.com

Their site says there's a fee. (search "Transfer (out) of assets")

Maybe it's new, I don't know. Just going by what I can find.
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That isn't an account closure fee. That's transferring my assets (stocks) to another brokerage without selling the assets first fee (i.e. maintain my long term position). That's not unexpected to me. Hopefully the Robinhood one is just the same thing and that user was misinformed about pulling their money out of Robinhood (unless they had positions with that $750 they wanted to maintain).
 

Deleted member 9100

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Oct 26, 2017
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Octodad said:
All those people last week who told me that it would be OBVIOUS when the bottom is, when will it be?
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It will be obvious. When we look back on it 6 months later.

It's always impossible to know in the moment. Today was a great day, but is it the start of a recovery or a dead cat bounce before more drops? Who knows.
 

Deleted member 8741

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Oct 26, 2017
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TAH3145 said:
It will be obvious. When we look back on it 6 months later.

It's always impossible to know in the moment. Today was a great day, but is it the start of a recovery or a dead cat bounce before more drops? Who knows.
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I'm being sarcastic. A ton of people came on here last week and said the bottom would be obvious and they always nail the sell high, buy low strategy and people are dumdums for not seeing it with perfect clarity.
 
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