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Re: What happened to the TSX this morning
Old 02-27-2007, 01:22 PM   #21
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Re: What happened to the TSX this morning

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Originally Posted by Running_Man
So this means you suggest selling now while the market is high? Or that a 2% decline is an indication the market has gone to hell and now is the time to buy.
That's the encouraging thing to remember - - it's ONLY 2% so far. It just looks really bad that the Dow is down 221 so far today, with hours more to go. But a drop of 221 is really only 2%.

Gee. And my 401K was just $45 short of getting to an intermediate goal. Oh well. Hopefully it will get there later in 2007.
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Re: What happened to the TSX this morning
Old 02-27-2007, 01:22 PM   #22
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Re: What happened to the TSX this morning

Quote:
Originally Posted by Hamlet
Note-- I am 100% equities (I have a fair amount in REITs though).
I have REIT too, and it's doing just as bad as the sp500. Down 2.16% as of now.

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Re: What happened to the TSX this morning
Old 02-27-2007, 01:26 PM   #23
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Re: What happened to the TSX this morning

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Originally Posted by Hamlet
I'm 34. My portfolio is much, much bigger than the last time I had to ride out a big correction (2002). It didn't faze me (much ) then, but I'm wondering if I have the stomach to go thru a 25% correction now that there is another zero on the end of the numbers. We will see

Note-- I am 100% equities (I have a fair amount in REITs though).

In 2002, I too had very little invested. I figured my company match, and the tax delayed status of my 401K made up for the slump so I kept contributing the maximum and felt it was a learning experience. You're right - - it's a whole lot more intimidating when there's more zeros at stake.
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Re: What happened to the TSX this morning
Old 02-27-2007, 02:15 PM   #24
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Re: What happened to the TSX this morning

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Originally Posted by audreyh1
It's not time to go shopping yet either. At least not for me. I like to see at least a 5% correction if not 10%.

Audrey
Getting close Audrey, or are you going to hold out for 10% (I think I am)
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Re: What happened to the TSX this morning
Old 02-27-2007, 02:30 PM   #25
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Re: What happened to the TSX this morning

I did some shopping today, but held some cash back in case t his continues. I would have to guess taht it will be short and sharp rather than long and grinding (at least for developed markets), but you never know.
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Re: What happened to the TSX this morning
Old 02-27-2007, 02:35 PM   #26
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Re: What happened to the TSX this morning

Well back to the topic of TSX, it looks like it's down about 418.95 so far today. OSPTX.TO 3:15PM ET 12,985.51 418.95 3.13% 211,332,802
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Re: What happened to the TSX this morning
Old 02-27-2007, 02:39 PM   #27
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Re: What happened to the TSX this morning

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So this means you suggest selling now while the market is high? Or that a 2% decline is an indication the market has gone to hell and now is the time to buy.
didn't say either ...
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Re: What happened to the TSX this morning
Old 02-27-2007, 02:43 PM   #28
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Re: What happened to the TSX this morning

Did you guys watch the decline at 3pm EST? The DOW was down about 200, then in a matter of seconds went down 500. It was a very broad decline too.

Only some Really Big Traders with lots of computers can do that. I wonder if all the big boys use the same algorithms....
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Re: What happened to the TSX this morning
Old 02-27-2007, 02:50 PM   #29
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Re: What happened to the TSX this morning

Made no sense to me , but maybe there were some margin calls?

It will be interesting to see if there were any hedge funds that blew up as a result of this. Anyone short the VIX got gutted today...
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Re: What happened to the TSX this morning
Old 02-27-2007, 03:03 PM   #30
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Re: What happened to the TSX this morning

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Originally Posted by wab
Did you guys watch the decline at 3pm EST? The DOW was down about 200, then in a matter of seconds went down 500. It was a very broad decline too.
Same thing happened to SP500 and Nasdaq. REIT followed the same pattern 20 minutes after.
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Re: What happened to the TSX this morning
Old 02-27-2007, 03:12 PM   #31
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Re: What happened to the TSX this morning

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Originally Posted by eridanus
Argh!! What if it goes down 2% tomorrow and 2% Thursday?!? I think we're in for a spiral down into the abyss.

I'm out. I'm going 100% bonds.
Just in time to miss tomorrow's rally!
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Re: What happened to the TSX this morning
Old 02-27-2007, 03:24 PM   #32
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Re: What happened to the TSX this morning

OK... we're down a bit but as a long haul investor I have to believe that this is more of a correction. I'm thinking we need to see how things look at the end of the week.

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Re: What happened to the TSX this morning
Old 02-27-2007, 04:17 PM   #33
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Re: What happened to the TSX this morning

Holy cow! That was pretty spectacular. We hadn't seen anything like that since 2004!

So much for "circuit breakers".

The good thing is that when sell-offs are this sharp, the pain is usually over more quickly.

Some bozo did something really crazy at 3p.m. ET as far as I can tell.

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Re: What happened to the TSX this morning
Old 02-27-2007, 04:25 PM   #34
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Re: What happened to the TSX this morning

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Originally Posted by brewer12345
Made no sense to me , but maybe there were some margin calls?

It will be interesting to see if there were any hedge funds that blew up as a result of this. Anyone short the VIX got gutted today...
Seems like whenever something this dramatic happens - just like last summer - info comes out later about one or more hedge funds doing some kind of megatrade that went awry.

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Re: What happened to the TSX this morning
Old 02-27-2007, 04:30 PM   #35
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Re: What happened to the TSX this morning

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Originally Posted by Zathras
Getting close Audrey, or are you going to hold out for 10% (I think I am)
Well - actually I'll be holding out for how much my asset allocation is out of whack - I'm not sure exactly how that corresponds to the stock market averages. With bonds having such a huge rally today as well it might push me to reallocate sooner than I expected.

So - I won't know how close I am until after 5p.m. today when I can download all my values and run my asset allocation spreadsheet.

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Re: What happened to the TSX this morning
Old 02-27-2007, 04:44 PM   #36
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Re: What happened to the TSX this morning

Quote:
Originally Posted by wab
Did you guys watch the decline at 3pm EST? The DOW was down about 200, then in a matter of seconds went down 500. It was a very broad decline too.

Only some Really Big Traders with lots of computers can do that. I wonder if all the big boys use the same algorithms....
Well - circuit breakers were on, I think, which limits program trading. Or at least that is the way it used to work.

According to bloomberg.com:

"Technical Problems

With an hour left before the close of exchanges, trading terminals showed the Dow average dropped 178 points in a single minute. Dow Jones & Co., which oversees the measure, later attributed the decline to a technical problems with its data servers."

If it was a technical data server problem - well, then I don't know why the recovery wasn't more dramatic. Pretty crazy if this was a technical problem.

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Re: What happened to the TSX this morning
Old 02-27-2007, 04:49 PM   #37
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Re: What happened to the TSX this morning

More on the system technical breakdown today:

http://www.thestreet.com/_tscana/mar.../10341324.html

Audrey
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Re: What happened to the TSX this morning
Old 02-27-2007, 04:59 PM   #38
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Re: What happened to the TSX this morning

Quote:
Originally Posted by eridanus
Quote:
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Would cash be better?
Oh, maybe you're right.

Ahhhhhhh!!! Arghhhhhh!
Rocks. Shiny rocks.
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Re: What happened to the TSX this morning
Old 02-27-2007, 05:26 PM   #39
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Re: What happened to the TSX this morning

2.2%
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Re: What happened to the TSX this morning
Old 02-27-2007, 05:39 PM   #40
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Re: What happened to the TSX this morning

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Originally Posted by smileydog
OK... we're down a bit but as a long haul investor I have to believe that this is more of a correction. I'm thinking we need to see how things look at the end of the week.

dog
I read, what I thought was, a good posting from someone on the Vanguard Diehards forum at M*. It went something like this:

"The stock market is like a man with a yo-yo walking up stairs. Stop watching the yo-yo. Focus on the stairs."

Think long-term and this will be nothing but a blip.
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