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re: Dow futures down 500pts
Posted on 5/9/22 at 1:35 pm to SlidellCajun
Posted on 5/9/22 at 1:35 pm to SlidellCajun
Q1 2022 GDP was -1.4%. If Q2 2022 end with negative GDP we are OFFICIALLY in a BIDEN recession. But hey no mean tweets like the other guy said ^
1
Posted on 5/9/22 at 1:36 pm to Catchfalaya
This feels like the capitulation thread I’ve been looking for.
Tradable bottom.
For context: SP500 = 4,006 when I posted this.
Tradable bottom.
For context: SP500 = 4,006 when I posted this.
This post was edited on 5/9/22 at 1:40 pm
Posted on 5/9/22 at 1:41 pm to lynxcat
quote:
quote:
I sold 60% of my stocks in March. I’m going to make out like a bandit when this is all done.
The real question is will he know when to get back in. There are people who still haven't bought back in from 2008, 2018, 2020, etc.
This post was edited on 5/9/22 at 1:42 pm
Posted on 5/9/22 at 1:51 pm to bod312
My general rule is to pick some up on 10% drops, a little more on 15%, and 20% and below I load up as much as I can. If it keeps dropping and I'm out of cash, I start back when I get some and keep buying. I have a feeling this will be long and drawn out like in 2008-9. We'll have some "recoveries" but the highs won't be as high and the lows will keep getting lower.
FTR, I think we go sub-28,000 DJI. I think NASDAQ gets hit much harder due to persistent overvaluing of stocks even after recent drops. There are some bargains out there. Look at MTDR real hard. Money making machine. Same with VLO and I'd throw some money at RIG.
I'd pick up Tesla in the 700's but save some for major dip across the board. Watch companies you like and when you see their are grossly undervalued...buy. Then wait.
If the economy collapses and everything goes to shite, none of your non-physical assets will be worth a shite anyway.
FTR, I think we go sub-28,000 DJI. I think NASDAQ gets hit much harder due to persistent overvaluing of stocks even after recent drops. There are some bargains out there. Look at MTDR real hard. Money making machine. Same with VLO and I'd throw some money at RIG.
I'd pick up Tesla in the 700's but save some for major dip across the board. Watch companies you like and when you see their are grossly undervalued...buy. Then wait.
If the economy collapses and everything goes to shite, none of your non-physical assets will be worth a shite anyway.
Posted on 5/9/22 at 1:55 pm to GhostofJackson
quote:
When all is said and done this may be worse for tech than dot com.
This would be glorious if it came to be!
Posted on 5/9/22 at 2:18 pm to slackster
quote:
I know it sounds a little weird, but 2022 could be a great time for new retirees (assuming they haven’t retired already). Your future returns are likely to be much better when you’re starting in a -16% or more market correction, so as long as you have a plan for your shorter term cash needs, the future is bright.
Definitely trying to take this point of view. As I'm 42. But hoping to retire early in about 10 years or so.
So while trying to stay the course (which I will) and know long-term it'll all be fine, like fallguy, watching my net worth compared to January 1 hasn't been fun.
All things considered, I guess it could be worse. I'm down 13% YTD.
Posted on 5/9/22 at 2:26 pm to SerenityNow
This ugliness is ugly 
Posted on 5/9/22 at 2:40 pm to Jimmy2shoes
this is fricking ridiculous 
Posted on 5/9/22 at 2:43 pm to LSUcam7
Posted on 5/9/22 at 2:50 pm to SerenityNow
quote:
All things considered, I guess it could be worse. I'm down 13% YTD.
I look at it like you too. I've got years left.
But it could be worse - I know folks who retired in December '21. They are obviously sick to death.
Posted on 5/9/22 at 3:05 pm to HailToTheChiz
quote:
But it could be worse - I know folks who retired in December '21. They are obviously sick to death.
Yeah. I cannot even imagine.
I know one major thing I've taken away from the last few months is that upon retirement, having maybe a year's worth of cash on hand that you don't touch is a good idea. So that when the market stumbles, you can use it to power through and hopefully end up in the positive over the long haul.
As insane it as it, it's something that never really crept into my thought process.
Posted on 5/9/22 at 3:06 pm to SerenityNow
Well thank God that bullshite is over for the day 
Posted on 5/9/22 at 3:18 pm to Triple Bogey
"Well thank God that bullshite is over for the day"
---
Beginning to feel like Groundhog Day!
---
Beginning to feel like Groundhog Day!
Posted on 5/9/22 at 3:21 pm to SerenityNow
quote:
I know one major thing I've taken away from the last few months is that upon retirement, having maybe a year's worth of cash on hand that you don't touch is a good idea. So that when the market stumbles, you can use it to power through and hopefully end up in the positive over the long haul.
Any decent FA would have a near/current retiree with a withdrawal plan for both the good and bad times.
If your portfolio is large enough, you may be generating enough income in equities to not have to sell in down markets, but that’s rare. Otherwise, money that you know you’ll need in 0-36 months really needs to be quite safe. CDs, individual bonds, cash, etc. Generally speaking, that doesn’t change as you age in retirement either. Replenish those short term buckets with profits from your other, longer term options, as necessary.
Posted on 5/9/22 at 3:23 pm to HailToTheChiz
quote:
But it could be worse - I know folks who retired in December '21. They are obviously sick to death.
Anyone that is currently retired and has to sell something at a loss for income purposes needs a much better plan.
Posted on 5/9/22 at 3:28 pm to ItzMe1972
I’m really worried about what’s going on right now
This needs to end
This needs to end
Posted on 5/9/22 at 3:29 pm to I Bleed Garnet
I thought you would have bled out by now.
Posted on 5/9/22 at 3:34 pm to Triple Bogey
quote:
Well thank God that bullshite is over for the day
Yeah. I just keep reminding myself about what happened in 2020. And I fully realize these are not the same situations. More so just recalling how I was basically ready to jump out the window at one point. But stayed the course.
On the other hand, I have a good friend who I'd consider to be a smart person and he sold at the low. Missed out on the entire rally in the latter half of the year.
Thinking my best bet at this point is to develop some self control and just not check my accounts for a few months. My sanity will certainly be better for it.
Posted on 5/9/22 at 3:39 pm to SerenityNow
I’ve been saying your screen name every time I think about the profits I’ve lost over the past year. I was a novice investor when Covid hit gobbled up stocks and they took off, always going up and kept holding. Then they stopped going up and now I’m in the red and learned a lesson the hard way about taking profits
Posted on 5/9/22 at 3:44 pm to TDTOM
quote:
I thought you would have bled out by now.
he's definitely bleeding out of somewhere...probably where his vagina is
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