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27 February 2020, 02:01 AM | #1441 | |
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but people can create real wealth in a bad market.
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27 February 2020, 03:24 AM | #1442 | |
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Perfectly happy to hold cash at this point
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27 February 2020, 03:48 AM | #1443 | |
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Can’t imagine the margin calls and the havoc they created. I’ve heard stories of investors with billion dollar losses. Heck, Elon Musk is light by the tune of 4 billion today. Personally, it appeared values were out of control anyway. I think the only way I deploy more cash is when it stabilizes.
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27 February 2020, 03:55 AM | #1444 |
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I agree
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27 February 2020, 07:31 AM | #1445 | ||
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Quote:
Anyone still want to buy the dip?
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27 February 2020, 10:42 AM | #1446 | |
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27 February 2020, 10:43 AM | #1447 | |
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27 February 2020, 11:49 AM | #1448 |
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Correct, I was thinking spiking to the downside, near another inversion
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27 February 2020, 11:49 AM | #1449 | |
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Futures down 230 at the moment for tomorrow
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27 February 2020, 12:00 PM | #1450 |
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My day trading account just went from all time high to 29% haircut within the past 5 trading sessions. 15% are realized losses after getting greedy trading SPCE and going for one last trade, and the other 14% are declines in value of positions in QQQ, VTI, ROKU, TSLA, MSFT, and PANW. My plan is to lay off the day trading, slowly add to the ETF positions (not individual stocks), ignore the markets, bag hold for however many years necessary until my positions are well in the money, and at that point start selling out of the money covered calls for premium every week to help make up for lost time.
Being relatively new to short term trading, what I'm quickly learning is true is that while it is very possible to beat the market by a wide margin, time in the market provides better peace of mind. There's a reason why successful investors like Peter Lynch, Burton Malkiel, Warren Buffet etc. advocate longer term buy and hold strategies. Found the following article which I thought would be of interest to many on this forum: "How the stock market has performed during past viral outbreaks, as coronavirus spreads to Italy and Iran" https://www.marketwatch.com/story/he...ads-2020-01-22 |
27 February 2020, 10:41 PM | #1451 |
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10 year 1.29% new record low this morning
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27 February 2020, 10:59 PM | #1452 |
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Buckle down fellas!
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27 February 2020, 11:19 PM | #1453 |
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Futures down 400, 98% of stock now below their 10 day moving average
Zero economic growth for the US being priced in by Goldman Bad open for a Thursday, no one will want to hold over the weekend so expect a huge washout by tomorrow close.
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27 February 2020, 11:20 PM | #1454 |
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If you didn’t already position for correction then you’ll want a 6-point safety harness on your desk chair. I’m looking at over-reaction in US markets like we saw after 9|11.
Can’t fault the frantic sellers trying to cover bad positions - it’s their money if they want to lose it. But the algo’s are whipsawing each other. Sent from my iPhone using Tapatalk Pro
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27 February 2020, 11:21 PM | #1455 | |
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I would assume the same but one thing I’ve learned is I’m almost always wrong on big short term directional trades so I’ll just watch.
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27 February 2020, 11:33 PM | #1456 | ||
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Just got this off Twitter Quote:
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27 February 2020, 11:42 PM | #1457 |
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Sadly I also thought it was a terrible appointment for point man on the matter but par for the course unfortunately. I wanted to say so in the other thread what is being said here, if you think it’s poli capital think again. The market says otherwise in a big way.
I believe people here are just focusing on the market so hopefully nobody takes offense to that statement.
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27 February 2020, 11:42 PM | #1458 |
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Nearing retirement I moved 25% of my portfolio out of equities and into bonds last year. Currently my asset allocation is 50/25/25 so I'm well positioned to take advantage of this correction but I think this will get considerably worse before it gets better so I'm being patient. It looks like there may be a drip, drip of negative news/developments for the next few weeks/months so buckle up.
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27 February 2020, 11:49 PM | #1459 | |
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28 February 2020, 12:23 AM | #1460 |
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Sort of. Instead of one year in the 529 I will be doing 5 years up front, and spreading out the purchases over the next 9 months. Not trying to catch a falling knife, but most certainly amping up my purchases from my usual buy in every day philosophy.
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28 February 2020, 12:38 AM | #1461 |
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Amen to that
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28 February 2020, 01:04 AM | #1462 |
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Yep, I just sold all my positions before market this morning, well almost all... Was tough decision, I don't want to pay capital gains on long term holdings... but at this point it's not looking good, so I'll continue to watch and buy back in when the coast is looking clearer.
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28 February 2020, 01:07 AM | #1463 |
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So, two stocks that I've been watching lately are HRTX (recommended here in this thread, and I've got a decent position in it) which I still think will do well, long-term, and VIR, which is another biotech, but this one is developing an antiviral drug for the coronavirus. It was up big time a few weeks ago, then fell back into the teens, then up 60% yesterday (yes, you read that right) and another 70% earlier this morning. Crazy.
Fortunately I have more cash than stocks, so I'm going to start buying real, steady companies soon. Like Exxon, GM, companies like that with real products, real dividends that may not be high-flyers, and also try to focus a bit more on recession-resistant companies like pharmaceuticals, utilities, beer. LOL BTW, before you follow any of my recommendations, read back through this thread to see how incredibly consistently wrong I am. More LOL (as I cry in my coffee).
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