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Started By
Message
First sign of temporary bottom I have seen
Posted on 3/16/20 at 1:30 pm
Posted on 3/16/20 at 1:30 pm
CNBC anchors begging for “them” to shutdown the stock market for a couple weeks. First real sign of “max pain” I have seen so far.
4
Posted on 3/16/20 at 1:32 pm to Lgrnwd
How is this max pain? i'm still up 85% YOY
Many people are. just take a look at some of these tech stocks. They're still FAT.
Many people are. just take a look at some of these tech stocks. They're still FAT.
Posted on 3/16/20 at 1:35 pm to bayoubengals88
Oh this isn’t over. That’s why I said TEMPORARY bottom.
Plenty of money to be made on swing trades though
Plenty of money to be made on swing trades though
Posted on 3/16/20 at 1:41 pm to bayoubengals88
quote:
Many people are. just take a look at some of these tech stocks. They're still FAT.
Yeah, I looked at VGT technology ETF, doesn't even look like it's on sale yet compared to broad market.
Posted on 3/16/20 at 2:10 pm to Lgrnwd
On both of these big sell-off days, Thursday and Today, you have seen some stabalization around 2500 for the S&P and 21000 for Dow Jones. Kind of tells me the real movers in the market dont want it to get too much lower than that.
Posted on 3/16/20 at 2:23 pm to Lgrnwd
This is a once in a lifetime opportunity.
Posted on 3/16/20 at 2:23 pm to dirtytigers
quote:
On both of these big sell-off days, Thursday and Today, you have seen some stabalization around 2500 for the S&P and 21000 for Dow Jones. Kind of tells me the real movers in the market dont want it to get too much lower than that.
There is a major long term trend line right in that area. It is a very significant price point.
Posted on 3/16/20 at 2:25 pm to dirtytigers
quote:
On both of these big sell-off days, Thursday and Today, you have seen some stabalization around 2500 for the S&P and 21000 for Dow Jones. Kind of tells me the real movers in the market dont want it to get too much lower than that.
Kind of like Ford and the $5.00 mark
Posted on 3/16/20 at 2:28 pm to Lgrnwd
Could you explain this more?
Posted on 3/16/20 at 2:33 pm to dirtytigers
quote:
Could you explain this more?
Lots of buyers at those levels. This is called support.
Google “support and resistance” for more info.
Essentially, if support breaks, a new bottom will form. In other words, look out below.
Between support and resistance is what’s called a “trading range.” The market (or stock) will bounce off lows and highs within a trading range.
For Ford, there’s been a clear bottom at $5 today.
The same can be applied to the overall market.
This post was edited on 3/16/20 at 2:34 pm
Posted on 3/16/20 at 2:44 pm to bayoubengals88
Must be getting close. I have had 2 clients call to cash out. One was down 10% since this mess happened. She swears the world is ending and she will lose all of her money.
Posted on 3/16/20 at 3:05 pm to Janky
I’m thinking the same thing, Janky. Usually when the good clients start panicking a little then the bottom is near.
Posted on 3/16/20 at 3:14 pm to GeauxZone90
quote:
This is a once in a lifetime opportunity.
If you had a lot of money in cash.
Posted on 3/16/20 at 3:14 pm to Shepherd88
The other one was a 68 year old man. He said I want and wouldn't take no for an answer. He then told me to sell his mom out too. I told him that I have to call her and get her authority. She told me if I sold her out at these levels she would fire me. She is 86 years old. I laughed my butt off.
Posted on 3/16/20 at 3:14 pm to Shepherd88
So does this mean people are not going to sell anymore? Or does it mean everybody is cashing out?
Posted on 3/16/20 at 3:15 pm to Janky
Only down 10%? That would be nice.
I sold in 2008, watched the Dow drop 2000 more points and never got back in. This time, I'll be calling my broker asking when it's time to go "all in".
I sold in 2008, watched the Dow drop 2000 more points and never got back in. This time, I'll be calling my broker asking when it's time to go "all in".
Posted on 3/16/20 at 3:16 pm to Lgrnwd
Yup that 20K glass floor is about to be smashed
Posted on 3/16/20 at 3:16 pm to Lgrnwd
I had a strong feeling we’d see sub 20,000 last Monday. I know there’s nothing wrong with buying on the way down but with the continued shutdowns we’ll likely go even lower over the next couple weeks. Lowest entry point is still ahead.
Posted on 3/16/20 at 3:18 pm to WM88
quote:
Only down 10%? That would be nice.
Right? I thought I was doing a hell of job. When I told her she was down 10% her reply was, "that's terrible." It took every ounce not lose it.
Posted on 3/16/20 at 3:21 pm to Janky
My 401k is down about 25% before today. It’s erased about 4 years worth of gains. This sucks!
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