Down Day in the Market !

[NW-Bound]

...That was quick. To quote Louis Winthorpe III:

One minute you're up half a million in soybeans and the next, boom, your kids don't go to college and they've repossessed your Bentley.

That was a good movie. I do not remember the above line, nor the scene where it was spoken. I do however remember the scene where Jamie Lee Curtis pulled off her shirt. Nice!

 

[Running_Man]

That stuff is out of my league fortunately. I was hoping some of this sell off would bleed into what I buy, but they arent dropping any at all.

This is going to be interesting because with all the computer trading even the FED has no idea what all these hedging programs hold and the offsetting counterparties nor what the market will do as a result, or even the proper course to solve this. Will the FED short the VIX to calm markets? Good morning Mr Powell!

 

[Clone]

I hope we don't hear a lot of moaning and groaning from people who panic, sell at or near the market low and then complain how they lost their retirement money in the stock market. Worse, are the stories in the media about these people.

Overheard on the bus ride this afternoon-
'I told him we needed to sell that stock, it was so high!'
'Husband was lucky to sell about $30K of it last fall. Glad to be out of it.'
'Yeah, but the rich keep on getting richer...'

Probably two weeks ago it was a completely different tune!

 

[jazz4cash]

That was a good movie. I do not remember the above line, nor the scene where it was spoken. I do however remember the scene where Jamie Lee Curtis pulled off her shirt. Nice!

I think I see why you find spectator sports boring.

 

[MRG]

I was listening to CNBC about 4:00-5:30, and they mentioned Vanguard (among others) having issues.

That is one of the reasons I have multiple brokerage accounts. I've had situations in the past where I couldn't access one of them. If you are trying to sell, it doesn't help much, but if you are trying to buy it could make the difference.

Cool. I'm sure fun was had by all.✌

Seriously days like this can make technical people's careers. Hope someone got to pull a rabbit out of their hat to save the day.

At least the news was about an outage of some duration. They didn't say Vanguard gave our data away, today.

 

[audreyh1]

Interesting behind the scenes look at why the volatility was so wild today. And something worse after hours - an ETP shorting the VIX will probably liquidate.
https://www.barrons.com/articles/short-vol-trades-the-risk-we-warned-you-about-1517882936

 

[scrabbler1]

That was a good movie. I do not remember the above line, nor the scene where it was spoken. I do however remember the scene where Jamie Lee Curtis pulled off her shirt. Nice!

I remember the line AND I remember JLC going topless in that scene! Winthorpe (Aykroyd) delivered that great line near the end of the movie when he and Valentine (Murphy) were about to enter the ComEX trading area to pull off their trading heist on the Dukes.

A few months after the movie came out in 1983, I happened to go on an informal tour of the ComEX trading floor given by a friend of the family who worked as a page. She showed me around the floor (it was during the lunch hour, when the floor was relatively quiet) and the observation area upstairs where the Duke brothers in the movie viewed the activity. With the movie pretty fresh in my mind, it was pretty cool being shown around the area.

 

[Bestwifeever]

Kramer is a helpful forum member. The TV personality you are talking about is Cramer. My son knows him and says he too is a very smart guy.

Ha

Speaking of movies, this might be a good remake: Kramer vs Cramer!

 

[JoeWras]

Snapping back right now. Put your neck brace on.

 

[jazz4cash]

I'm seeing very slow response on Fido's website this AM.... and I'm just looking, not trading or anything.

 

[Another Reader]

I'm seeing very slow response on Fido's website this AM.... and I'm just looking, not trading or anything.

I can't get in at all. I just wanted to peek at the accounts, so no big deal.

 

[REWahoo]

Just saw this about an outage at Fidelity:

Fidelity suffers temporary outage amid volatile markets

 

[GravitySucks]

I'm seeing very slow response on Fido's website this AM.... and I'm just looking, not trading or anything.

Same. Took three tries to login.
Glad I got my AA down to 60/40 before this test. That 80/20 and then 70/30 I thought I could handle would have had me stressing but I think this is matching my actual risk profile for now.

 

[FIREmenow]

Sounds like some good stress-testing on these systems. Hopefully it prompts some changes/improvements for when there is a REAL mayday.....

 

[JoeWras]

Like everything else, it seems like a lot of the finance sites have been complacent and haven't had a good traffic test until now.

Besides Fido and VG, I read that the new robo-sites were hit pretty heavily yesterday with both Wealthfront and Betterment crashing.

But hey, the full price sites seemed to do better, and they should for all those fees. Still, they ALL should be ready. They just haven't gotten tested.

(Hint to VG, Fido and the other guys: try Chaos Monkey for your testing.
It has served Netflix well.)

 

[jazz4cash]

I can't get in at all. I just wanted to peek at the accounts, so no big deal.

It actually is a big deal potentially. Not for folks here on the forum, but some less seasoned investors could get spooked.

 

[copyright1997reloaded]

My Ameritrade ThinkOrSwim app has been working pretty much as normal over the last few days.

 

[jazz4cash]

Sounds like some good stress-testing on these systems. Hopefully it prompts some changes/improvements for when there is a REAL mayday.....

+1

 

[NW-Bound]

I think I see why you find spectator sports boring.

Back in the 80s, movies were not as risque as they are now. That scene was a pleasant surprise, so I remember it. Don't know what it has to do with me not caring about spectator sports.

Back on topic, I have not tried logging in to Vanguard, but Schwab, Merrill Edge, and Scottrade sites all operate normally. Have not made any trade since that small one yesterday, but interesting to see my account swinging from green to red and back with each screen refresh. The market is going bonkers.

 

[HadEnuff]

I don't know whether I should beat myself up more for not being more allocated during this last run-up, or for not being prescient enough to pull out exactly at the moment we were at the mountain top. That's the problem with trying to time it.

So, maybe I won't beat myself up at all, and just congratulate myself on being properly allocated for my level of risk tolerance, which evidently I am, since I am not losing any sleep. Yet.

 

[vince]

I've had no problem at all logging into Vanguard. Placed some new limit orders, as some of the older ones I placed were filled.

 

[NW-Bound]

Today I recovered 60% of the loss yesterday.

I don't think many of us will be setting new personal high for a while. Just seeing your stash not losing a year's worth of expenses each day is refreshing already.

 

[MRG]

Sounds like some good stress-testing on these systems. Hopefully it prompts some changes/improvements for when there is a REAL mayday.....

Haha.

I hope you are correct but...there's only so much virtual storage you can buy.

At least "my phone"(I wish I could let the auto correct version come through) isn't ringing.

There is a lot to high volume transaction processing. I'm happy many people logged on to tell the providers their experience. I hope you all did do that? Seriously you should call your service providers and tell them you successfully logged on for no reason.[emoji111]

They appreciate your patronage.

 

[HFWR]

Pretty exciting, eh? Basically back to even for the year. Bring it!

 

[zedd]

Dooh! Shoulda tried to catch the falling knife. What did I do?

Nothing