busymom
Distinguished Associate
Why is the rum always gone? Oh...that's why.
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Post by busymom on Feb 24, 2020 17:53:53 GMT -5
Ok, so the day ended -1,031.61.
We'll see what the rest of the week brings.
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Ava
Senior Member
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Post by Ava on Feb 24, 2020 20:45:01 GMT -5
The market is fickle, and it's a long-term gain.
I'm not worried about this.
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MN-Investor
Well-Known Member
Joined: Dec 20, 2010 22:22:44 GMT -5
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Post by MN-Investor on Feb 24, 2020 21:52:41 GMT -5
My portfolio is down 1.1% for the day. I'll survive.
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Deleted
Joined: Apr 26, 2024 15:37:04 GMT -5
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Post by Deleted on Feb 25, 2020 8:33:35 GMT -5
I order my glass cabochons and jewelry findings direct from China. (That's where everyone on Amazon, etc... get them to resell, so might as well cut out the middleman.)
I placed a big order a week or two ago and another yesterday in hopes they will get here eventually.
The interesting thing to me is the market may be on serious clearance sale at some point and I have a pile of cash I need to move into some sort of savings or investment.
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WannabeWealthy
Established Member
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Post by WannabeWealthy on Feb 25, 2020 10:40:21 GMT -5
This market is really stressing me out. I've bought stocks so they can go UP not DOWN. I have to stay 100% stocks right now because I have a lot of money to recollect since my divorce. But I'm 50yo and don't have much time like a 30-something person would. We just lost all of this year's gains in 1 day. That's very abnormal to me. Many people state that we were due for a correction. I disagree. If the companies are doing good with earnings, why shouldn't they be rewarded with buyers supporting their company. This rapid selling due to a virus is an artificial condition. It's not based on fundamentals at all.
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Deleted
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Post by Deleted on Feb 25, 2020 10:52:17 GMT -5
WannabeWealthy - Yesterday was just a blip on the charts, but the coronavirus effect on supply chains could be awful. I'm seeing it already hitting my company in Q1.
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Deleted
Joined: Apr 26, 2024 15:37:04 GMT -5
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Post by Deleted on Feb 25, 2020 10:52:51 GMT -5
This market is really stressing me out. I've bought stocks so they can go UP not DOWN. I have to stay 100% stocks right now because I have a lot of money to recollect since my divorce. But I'm 50yo and don't have much time like a 30-something person would. We just lost all of this year's gains in 1 day. That's very abnormal to me. Many people state that we were due for a correction. I disagree. If the companies are doing good with earnings, why shouldn't they be rewarded with buyers supporting their company. This rapid selling due to a virus is an artificial condition. It's not based on fundamentals at all. The US economy has strong ties to China. Since nearly everything comes from there these days, I can completely see how mass illness there could do serious damage to US companies. I was watching something last night where they were talking about what happens if the virus makes it to some of the countries/refugee camps without any decent healthcare access and how it could kill a whole lot of people.
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souldoubt
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Post by souldoubt on Feb 25, 2020 10:59:16 GMT -5
Parts of the second largest economy in the world are at a standstill there's nothing artificial about it. Sorry for your divorce but if you're 50 and 100% in equities hoping to make up what you lost when we're likely towards the end of the longest bull run in history you're taking on a lot of risk.
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Deleted
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Post by Deleted on Feb 25, 2020 11:01:15 GMT -5
WannabeWealthy - Yesterday was just a blip on the charts, but the coronavirus effect on supply chains could be awful. I'm seeing it already hitting my company in Q1. Many US importers of goods are used to a 4-6 week surface shipping window and the lack of anything shipping during the month or so for New Years. Since the holiday vacation just ended, many of us are trying to get goods exported and that typically involves an extra couple of weeks wait for delivery as they catch up. Adding the virus issues to the mix is bound to make things worse. Though I import on a much smaller scale, I know I have ordered a lot more glass pieces and findings in the last 2 weeks than I might otherwise because I can foresee getting things here could get to be a problem. And, buying domestically, the prices will increase.
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Tiny
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Post by Tiny on Feb 25, 2020 11:04:43 GMT -5
Hmmm Older son is a physician. He just called, he’s calling in prescriptions for tamiflu for myself and husband. He thinks it’s inevitable that Corona virus will be coming here. No substantial evidence yet but tamiflu is an antiviral and might be effective. Son thinks there will be run on tamiflu once virus gets to US. Paying for that out of pocket or thru insurance?
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Gardening Grandma
Senior Associate
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Post by Gardening Grandma on Feb 25, 2020 11:07:00 GMT -5
This market is really stressing me out. I've bought stocks so they can go UP not DOWN. I have to stay 100% stocks right now because I have a lot of money to recollect since my divorce. But I'm 50yo and don't have much time like a 30-something person would. We just lost all of this year's gains in 1 day. That's very abnormal to me. Many people state that we were due for a correction. I disagree. If the companies are doing good with earnings, why shouldn't they be rewarded with buyers supporting their company. This rapid selling due to a virus is an artificial condition. It's not based on fundamentals at all. If you cannot tolerate voltilaty, you should not be 100% in stocks. This is why I do not think it is smart to have one's emergency funds in the market. This could go on for months as the pandemic plays out
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busymom
Distinguished Associate
Why is the rum always gone? Oh...that's why.
Joined: Dec 25, 2010 21:09:36 GMT -5
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Post by busymom on Feb 25, 2020 11:14:18 GMT -5
Well, so far today we're dropping again. -290. I'll be keeping an eye on things again today...
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WannabeWealthy
Established Member
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Post by WannabeWealthy on Feb 25, 2020 12:11:48 GMT -5
WannabeWealthy - Yesterday was just a blip on the charts, but the coronavirus effect on supply chains could be awful. I'm seeing it already hitting my company in Q1. I don't see it as a blip. My tech stocks have all either corrected or entering bear market territory. Nvda - 16% drop AMD - 18% drop AMZN - 8% GOOGL - 7% MSFT - 10% LMT - 7% NFLX - 7% All of this in 2 days? Not good at all.
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WannabeWealthy
Established Member
Joined: Dec 27, 2010 12:25:17 GMT -5
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Post by WannabeWealthy on Feb 25, 2020 12:14:08 GMT -5
This market is really stressing me out. I've bought stocks so they can go UP not DOWN. I have to stay 100% stocks right now because I have a lot of money to recollect since my divorce. But I'm 50yo and don't have much time like a 30-something person would. We just lost all of this year's gains in 1 day. That's very abnormal to me. Many people state that we were due for a correction. I disagree. If the companies are doing good with earnings, why shouldn't they be rewarded with buyers supporting their company. This rapid selling due to a virus is an artificial condition. It's not based on fundamentals at all. If you cannot tolerate voltilaty, you should not be 100% in stocks. This is why I do not think it is smart to have one's emergency funds in the market. This could go on for months as the pandemic plays out I can tolerate it but I don't like it. EF can be gotten easily with a credit card and then paid off. I'm not going to let $20k sit in a bank collecting dust when I have money that needs to work NOW. I'm 15yrs from retirement. I just hate seeing the stock drop when fundamentals are great at the companies I invested in.
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Deleted
Joined: Apr 26, 2024 15:37:04 GMT -5
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Post by Deleted on Feb 25, 2020 12:27:22 GMT -5
WannabeWealthy - Yesterday was just a blip on the charts, but the coronavirus effect on supply chains could be awful. I'm seeing it already hitting my company in Q1. I don't see it as a blip. My tech stocks have all either corrected or entering bear market territory. This is the DOW the past 30 years including yesterday.
Now, if we start looking at 2008 and 2009...that's an ugly blip that took 6 or 7 years to recover from. But, you're only 50...you do have time to come back from even that. I'm the same age and 92% stocks and not nervous. I'm not thrilled at the idea of a massive correction, but at least I'll be able to buy things cheaper.
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Deleted
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Post by Deleted on Feb 25, 2020 12:44:55 GMT -5
If you cannot tolerate voltilaty, you should not be 100% in stocks. This is why I do not think it is smart to have one's emergency funds in the market. This could go on for months as the pandemic plays out I can tolerate it but I don't like it. EF can be gotten easily with a credit card and then paid off. I'm not going to let $20k sit in a bank collecting dust when I have money that needs to work NOW. I'm 15yrs from retirement. I just hate seeing the stock drop when fundamentals are great at the companies I invested in.Do the companies you have invested in have a Supply Chain presence in China? If so their fundamentals just got significantly adjusted for the year and potentially next year. It is very expensive to move manufacturing or pay for premium freight during a time like this, this will have a major impact on earnings.
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jerseygirl
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Post by jerseygirl on Feb 25, 2020 12:49:01 GMT -5
Hmmm Older son is a physician. He just called, he’s calling in prescriptions for tamiflu for myself and husband. He thinks it’s inevitable that Corona virus will be coming here. No substantial evidence yet but tamiflu is an antiviral and might be effective. Son thinks there will be run on tamiflu once virus gets to US. Paying for that out of pocket or thru insurance? Not bad only $47
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jerseygirl
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Post by jerseygirl on Feb 25, 2020 12:54:28 GMT -5
This market is really stressing me out. I've bought stocks so they can go UP not DOWN. I have to stay 100% stocks right now because I have a lot of money to recollect since my divorce. But I'm 50yo and don't have much time like a 30-something person would. We just lost all of this year's gains in 1 day. That's very abnormal to me. Many people state that we were due for a correction. I disagree. If the companies are doing good with earnings, why shouldn't they be rewarded with buyers supporting their company. This rapid selling due to a virus is an artificial condition. It's not based on fundamentals at all. Just hold on market will recover but think it may take quite a while Fundamentals include the potential disaster on companies due to supply chain problems with most of the manufacturing of components used by other non Chinese companies and consumer goods not being produced or large decreases in workers in Chinese factories
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Gardening Grandma
Senior Associate
Joined: Dec 20, 2010 13:39:46 GMT -5
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Post by Gardening Grandma on Feb 25, 2020 14:04:46 GMT -5
Now -703
Will we close another 1000 down?
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Deleted
Joined: Apr 26, 2024 15:37:04 GMT -5
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Post by Deleted on Feb 25, 2020 14:35:51 GMT -5
Now -703 Will we close another 1000 down? Yes, I'm guessing -1300. I saw -850+ a few minutes ago.
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Bob Ross
Junior Associate
Joined: Dec 21, 2010 14:48:03 GMT -5
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Post by Bob Ross on Feb 25, 2020 14:47:07 GMT -5
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Bob Ross
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Post by Bob Ross on Feb 25, 2020 14:52:48 GMT -5
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Gardening Grandma
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Post by Gardening Grandma on Feb 25, 2020 14:58:56 GMT -5
. "I understand the inclination to buy on the dip. I understand that the path of least resistance in this market is to bounce up ... but I stress, this is different," Mohamed El-Erian, chief economic advisor at Allianz and former Pimco CEO, told CNBC's "Squawk Box."
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teen persuasion
Senior Member
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Post by teen persuasion on Feb 25, 2020 15:04:43 GMT -5
This market is really stressing me out. I've bought stocks so they can go UP not DOWN. I have to stay 100% stocks right now because I have a lot of money to recollect since my divorce. But I'm 50yo and don't have much time like a 30-something person would. We just lost all of this year's gains in 1 day. That's very abnormal to me. Many people state that we were due for a correction. I disagree. If the companies are doing good with earnings, why shouldn't they be rewarded with buyers supporting their company. This rapid selling due to a virus is an artificial condition. It's not based on fundamentals at all. If you are still accumulating, you WANT a correction, so stocks are on sale. You don't want to buy high. I'm watching the market; I've been avoiding contributing to our Roth IRAs while the market was hitting new highs weekly. Just wish I knew how low it will get. Do I buy now, or wait longer? Drop some in each day, or all at once...?
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CCL
Junior Associate
Joined: Jan 4, 2011 19:34:47 GMT -5
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Post by CCL on Feb 25, 2020 16:02:16 GMT -5
. "I understand the inclination to buy on the dip. I understand that the path of least resistance in this market is to bounce up ... but I stress, this is different," Mohamed El-Erian, chief economic advisor at Allianz and former Pimco CEO, told CNBC's "Squawk Box." Don't they always say "this is different"?
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Wisconsin Beth
Distinguished Associate
No, we don't walk away. But when we're holding on to something precious, we run.
Joined: Dec 20, 2010 11:59:36 GMT -5
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Post by Wisconsin Beth on Feb 25, 2020 16:15:49 GMT -5
This market is really stressing me out. I've bought stocks so they can go UP not DOWN. I have to stay 100% stocks right now because I have a lot of money to recollect since my divorce. But I'm 50yo and don't have much time like a 30-something person would. We just lost all of this year's gains in 1 day. That's very abnormal to me. Many people state that we were due for a correction. I disagree. If the companies are doing good with earnings, why shouldn't they be rewarded with buyers supporting their company. This rapid selling due to a virus is an artificial condition. It's not based on fundamentals at all. If you are still accumulating, you WANT a correction, so stocks are on sale. You don't want to buy high. I'm watching the market; I've been avoiding contributing to our Roth IRAs while the market was hitting new highs weekly. Just wish I knew how low it will get. Do I buy now, or wait longer? Drop some in each day, or all at once...? DH just called me to say that despite the drop/dips, he's giving the instructions to rebalance. He met with his finance guy a couple of weeks ago. And talked with him today about it.
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Deleted
Joined: Apr 26, 2024 15:37:04 GMT -5
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Post by Deleted on Feb 25, 2020 16:40:34 GMT -5
The only thing making my stomach churn some on this is my son's UTMA college account that the grandparents had 100% invested in a science and tech fund. I had talked with stepmom end of January and she agreed maybe it was time to cash it all in and she was going to talk with her advisor the next time she saw him in a couple weeks, but I never heard they did anything... Luckily, his 529 is in an age-based that is 80% cash and bonds at this point (of course had it been 100% stocks the past 10 years it probably would have been worth a lot more to begin with).
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Gardening Grandma
Senior Associate
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Post by Gardening Grandma on Feb 25, 2020 17:13:43 GMT -5
. "I understand the inclination to buy on the dip. I understand that the path of least resistance in this market is to bounce up ... but I stress, this is different," Mohamed El-Erian, chief economic advisor at Allianz and former Pimco CEO, told CNBC's "Squawk Box." Don't they always say "this is different"? they sure do! Somehow it's always different and always the same...
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busymom
Distinguished Associate
Why is the rum always gone? Oh...that's why.
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Post by busymom on Feb 25, 2020 18:03:20 GMT -5
Another painful day. -879.44 Ugh! Is this an example of MAGA?
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Deleted
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Post by Deleted on Feb 25, 2020 18:17:20 GMT -5
If you are thinking about moving some of your money from your IRA to your Roth IRA, this is a good time to do it. Mine are invested exactly the same so there is no loss involved, but $1000 moves more over than it would have a week ago. I'll move $1000 tonight and then wait a month or so to see if the drop continues. I do have to pay taxes on it so $6000 is my max to move this year. My kids better thank me after I'm dead.
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