Stock market.... What are you doing?

[Jomibe]

If you don't know what you are doing you shouldn't just throw money at random stocks which are low that you think will go back up.
This is how the rich get richer

Where did I say the word "random"?

Buying good stocks at a discount is not how the rich get richer at my expense.

 

[nonobaddog]

If you don't know what you are doing you shouldn't just throw money at random stocks which are low that you think will go back up.
This is how the rich get richer

To be fair, he did not say "random" stocks. We don't know how much research went into the choices made.

I have stocks I have held for a long time which are down right now and I also have some I bought in this slump and if it goes lower I will buy more. I kind of like all of them. If you look at the DOW over its history it is very hard to imagine it will not recover at some point. (Hopefully well before the November election)

 

[Jomibe]

Pardon me for pointing this out, but you failed to correctly time the market the first time. Have you learned enough from the single experience to be certain you will get it right the next time? Make no mistake, having money available to invest but not in the market is market timing on some level. If you're long; pick an entry point, get in and then forget about it. Otherwise, what metric will you use to call the bottom? Is it not possible that if you wait days beyond the actual bottom, to be sure we are in recovery, that markets will be back at Monday's levels or even higher. Remember that even professionals can't time the market. Less than one third of fund managers can beat their funds associated index in any given year. The number of fund managers that can beat their underlying index two years in a row is practically undetectable.

Perfect is the enemy of good enough

Agree with all of this, and I think I was saying the same thing in a less eloquent way.

The only caveat being if this isn't a normal correction event and the market bottoms at 17-18k. Then I think the metrics change. But like you said, who knows where it bottoms at.

 

[BugI02]

You can be long cash, too. Buffett seems to be doing some of that, knowingly choosing to hold cash is nothing to be ashamed of. The 'knowingly' part is the important concept. The important thing is know where you want to go and make all your moves in that direction. You have only lost $900 on paper. You don't truly lose anything until you sell and lock in that loss. If the stocks you bought were truly buy and hold, and you bought them specifically for that reason, then they are still worth holding and will recover

Buying something today because you think we're at the bottom and you can sell it next week for substantial gains is a riff on day trading. Most day traders are getting killed right now

 

[JettaKnight]

Where did I say the word "random"?

Buying good stocks at a discount is not how the rich get richer at my expense.

"Random" is the new "miscellaneous", as in, "Here's some random photos of me and my BFF."




No, those aren't random - they were chosen by you.


The cryptographer in me knows that true randomness is very hard to achieve.


I suspect "miscellaneous" has fallen out of favor due to is complexity - it's hard to say (five syllables) and even harder to spell.

 

[nonobaddog]

Where did I say the word "random"?

Buying good stocks at a discount is not how the rich get richer at my expense.

Tough crowd in here today. They don't normally pounce on new investors like this.

 

[BugI02]

Tough crowd in here today. They don't normally pounce on new investors like this.

Investing is Mindfulness, not Zen

 

[nonobaddog]

I'm counting heavily on my good karma.

 

[ditcherman]

To be fair, he did not say "random" stocks. We don't know how much research went into the choices made.

I have stocks I have held for a long time which are down right now and I also have some I bought in this slump and if it goes lower I will buy more. I kind of like all of them. If you look at the DOW over its history it is very hard to imagine it will not recover at some point. (Hopefully well before the November election)

This is not necessarily directed at you bad dog, just thought it was an interesting point you're making.
There is a lot of talk of "normalcy bias" these days in some threads, and this is a perfect example of it. It can be in a whole big picture view or a day to day view or anything in between. It seems like some on here are mad (or in denial) because they just jumped in and now it's going down. It's a market, and it reacts to news, sometimes even rationally. Nothing lasts forever.

 

[BugI02]

I'm counting heavily on my good karma.

That and $1.80

 

[BugI02]

This is not necessarily directed at you bad dog, just thought it was an interesting point you're making.
There is a lot of talk of "normalcy bias" these days in some threads, and this is a perfect example of it. It can be in a whole big picture view or a day to day view or anything in between. It seems like some on here are mad (or in denial) because they just jumped in and now it's going down. It's a market, and it reacts to news, sometimes even rationally. Nothing lasts forever.

Markets can remain irrational longer than you can remain solvent

 

[nonobaddog]

That and $1.80

My crystal ball tells me you are a non-believer and you like expensive coffee.

 

[smokingman]

I am at a waiting point.
News will get worse.
Numbers will get worse.
Manufacturing and consumer spending will decline.

I will wait. Patiently until January of 2021.
I imagine a ramp up in December(by then things should have settled down a bit)
Only to have spending come in less than expected in January.

That will be when I consider getting back in.

I will stay in tips in large part even then. I can not lose purchasing those unless the US government collapses.(then i do have a bit of silver).

 

[maxwelhse]

What am I doing on the market today? Weeping gently...

 

[bwframe]

Gently weeped...

Hang in there folks, you are still alive. Some of these folks aren't...

[video=youtube;6SFNW5F8K9Y]https://www.youtube.com/watch?v=6SFNW5F8K9Y[/video]

 

[nonobaddog]

Right now the Futures are up about 160 - for whatever that is worth.

 

[smokingman]

Right now the Futures are up about 160 - for whatever that is worth.

It is Iceland. Has to be they did a .5% rate cut...just like the Fed and bank of England.

 

[nonobaddog]

Now the Futures are down about 100. Very short rally.

 

[Dead Duck]

You guys are funny.




My gun stocks are still going up as usual.

 

[smokingman]

Now the Futures are down about 100. Very short rally.

Iceland reported 40 Covid-19 cases.


Or it could be things like....

“CME Group today announced it will close its Chicago trading floor as of the close of business Friday, March 13, 2020, as a precaution to reduce large gatherings that can contribute to the spread of coronavirus in line with the advice of medical professionals. All products will continue to trade on CME Globex as they do today.

No coronavirus cases have been reported on the trading floor or in the Chicago Board of Trade building. The reopening of the trading floor will be evaluated as more medical guidance on the coronavirus becomes available. The company's headquarters at 20 S. Wacker Drive will remain open.

The trading floor community will receive an additional q&a tomorrow related to the execution of certain floor products, procedures and protocols and other floor-related practices.“