Dow is off almost 500 points

[Blonde Granny]

This is going to be a bad day today if this loss keeps up.

[Deleted]

It would take about 800 points down, to get it to it's short term average.  Not real surprising with the lofty height it's been trading at. 

[azphx1972]

I just made my backdoor Roth IRA contribution today, so I'm stoked about the drop. 

[ken a.k.a OMK]

Worst week in 2 years. Obama's fault. 

[NastyWoman]

Feb 2, 2018 15:29:16 GMT -5 ken a.k.a OMK said:

Worst week in 2 years. Obama's fault. 

No, no, no, no! It's those friggin emails and Bengazi...

[jd2005]

HA!!!  My 401k rollover from old job to my IRA was deposited today.  I cashed out at the top and now i have a bunch of cash sitting there.  Looking forward to buying low!  Luck is all...

[busymom]

Ugh!  I'm already down this week.  I knew a correction would happen eventually, but it's painful when YOUR OWN money is involved.

[ken a.k.a OMK]

My favorite stock had record highs 2 days this week then today 

[Deleted]

I'm glad I did NW yesterday.  I'm just going to not look until the end of the month.

[whoisjohngalt]

Feb 2, 2018 16:05:00 GMT -5 minnesotapaintlady said:

I'm glad I did NW yesterday.  I'm just going to not look until the end of the month.

Do you really think it will come back up that fast??

[tallguy]

Feb 2, 2018 16:34:23 GMT -5 whoisjohngalt said:

Feb 2, 2018 16:05:00 GMT -5 minnesotapaintlady said:

I'm glad I did NW yesterday.  I'm just going to not look until the end of the month.

Do you really think it will come back up that fast??

Doesn't matter if you're locked into an end-of-month schedule for tracking it.  You HAVE TO look at it then.  

[ken a.k.a OMK]

It's only a loss on paper. 

[wyouser]

This is temporary, an event many have been waiting for. Take some off the table and then buy in the dip. Economy looks good.

[Deleted]

Feb 2, 2018 16:39:17 GMT -5 tallguy said:

Feb 2, 2018 16:34:23 GMT -5 whoisjohngalt said:

Do you really think it will come back up that fast??

Doesn't matter if you're locked into an end-of-month schedule for tracking it.  You HAVE TO look at it then.  

I remember the days of just paper statements.  I wouldn't look for years!  (well, for sure many months).  I would just toss the statements into a pile unopened when they came every quarter.  Now I'm OCD on the tracking. <sigh>

But, whoisjohngalt, I could totally see it recovering by the end of the month...even the end of next week wouldn't shock me.  It wouldn't be the first time it's dropped a bunch in one day and then rebounded.  Of course, this could just be the beginning of the market apocalypse too. 

[tallguy]

I still think we'll be good for the year.  It went up much faster than it should have due to expectations over the tax cuts, but I do think the cuts pushed out the correction/crash for a year or two.  After this drop we are still higher than we probably should be right now so I'm not that concerned.  The combination of interest rates and political bull**** is a problem right now, but I don't see this as the start of the crash yet.  It's more a quick note of panic by people who weren't ready for it yet, IMO.

[Rob Base 2.0]

Feb 2, 2018 15:29:16 GMT -5 ken a.k.a OMK said:

Worst week in 2 years. Obama's fault. 

[dannylion]

Time to start buying.

[lynnerself]

Feb 2, 2018 17:38:12 GMT -5 dannylion said:

Time to start buying.

Unfortunately, I invested a little cash I had on the side into the S&P yesterday, when it was just down slightly.
Should have waited until today.

[tskeeter]

Feb 2, 2018 16:44:50 GMT -5 wyouser said:

This is temporary, an event many have been waiting for. Take some off the table and then buy in the dip. Economy looks good.

Well said.  I think a bit  of bull market fatigue is showing.  People have been waiting for a reason to lock in gains.  The fed raising interest rates is the type of situation they have been waiting for.

Longer term, I think this is just a blip in the market.  The US economy, and the economies of many, many other countries, are strong and improving.  Interest rates as still well below historical averages, even if the Fed follows through on the interest rate increases they have talked about.  Because the Fed announced their intent to raise rates some time ago, the markets have long since integrated those increases into stock valuations.  There is really no reason why executing an announced increase should cause heart attacks among investors now.  Wages are starting to increase, but they aren’t at a level where inflation is likely to be an issue for quite a while.

Basically, unless the Fed does something stupid again, such as massive rate increases or cutting off access to credit, the markets should continue to rise for another couple of years with only minor corrections.

[billisonboard]

As long as enough people are making enough money to exceed their basic needs and wants, the market should do well. The issue is ensuring that there are also enough people having just enough money to maintain adequate consumption levels to maintain the system.

[Deleted]

Feb 2, 2018 16:05:00 GMT -5 minnesotapaintlady said:

I'm glad I did NW yesterday.  I'm just going to not look until the end of the month.

I lied. I peeked. It wasn't horrible.

[tallguy]

Yeah, it was a terrible week.  It dropped me all the way back to where I was three whole weeks ago!   

[wyouser]

Feb 3, 2018 13:31:20 GMT -5 billisonboard said:

As long as enough people are making enough money to exceed their basic needs and wants, the market should do well. The issue is ensuring that there are also enough people having just enough money to maintain adequate consumption levels to maintain the system.

Right on. This feels like that is the case going forward. I know this is just from the Dummy up in Wyoming..but this is the best that things have felt in over a decade....

[thyme4change]

Feb 3, 2018 17:23:53 GMT -5 minnesotapaintlady said:

Feb 2, 2018 16:05:00 GMT -5 minnesotapaintlady said:

I'm glad I did NW yesterday.  I'm just going to not look until the end of the month.

I lied. I peeked. It wasn't horrible.

I lost 80k

[Deleted]

Feb 3, 2018 19:03:01 GMT -5 thyme4change said:

Feb 3, 2018 17:23:53 GMT -5 minnesotapaintlady said:

I lied. I peeked. It wasn't horrible.

I lost 80k

You obviously have a lot more invested than me.  

My retirement accounts dropped a little over 8K.  Considering it went up like 20K in January, that's kind of whatever.  Kids college funds barely budged, but older is almost entirely in cash and bonds now.  

[Deleted]

We lost 15K this past week.  I'm glad we had the run-up preceding b/c that's 15K out of the elevated amount.  Takeaway is that fundamentals matter.  Bad earnings, heavy debt, increased interest rates will bite the corporate backside regardless of a tax break.  If you ain't selling your widgets better than before for more $$, you ain't going to thrive.  If you are carrying too heavy a debt ratio, you will not thrive.  Investors will run if you have a crapton of lawsuits against you.  Corporate balance sheet 101 still rules.  

[CCL]

Feb 3, 2018 19:03:01 GMT -5 thyme4change said:

Feb 3, 2018 17:23:53 GMT -5 minnesotapaintlady said:

I lied. I peeked. It wasn't horrible.

I lost 80k

 I'm not sure I could handle that.

[janee]

I didn't look.  Initially I saw it was down about 600+ points and a moment of "oh oh", but then I quickly realized that was about 2.5%.
A 10% correction is going to be 2400 points!  Just keep repeating, "It's all long-term" 

[ken a.k.a OMK]

Lost $46k Friday and $53k so far today. 

[alabamagal]

I won't post how much mine went down, because you guys would laugh at my puny little loss (based on my puny little 401k).  But I was still up 2% for the year.