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Old 02-02-2018, 06:38 PM   #41
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The 10 year jumped up and the market got hit. How will the market fare if the 10 year goes to 3.5%? Lots of supply with reverse QE in the pipe. Fun times.
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Old 02-02-2018, 06:50 PM   #42
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"Not trying to start a political discussion here at all."

Wish I had a dollar for every time I heard/saw that one!!
I think the comment is a bit unfair in this case. I didn't express a political opinion............all I said was that I thought certain political events might roil the markets in the near future. If you disagree or don't care, that's fine with me.
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Old 02-02-2018, 07:01 PM   #43
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6 figure buy today and another on Monday and Tuesday if it drops again.
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Old 02-02-2018, 07:04 PM   #44
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My 7% year plan had me ahead to August last week. Now I'm only ahead to April. I think I'll survive!
I think the rapid recovery to so-called Great Recession has allowed a lot of people to not take these dips so seriously.
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Old 02-02-2018, 07:05 PM   #45
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I'm prepped for a 6 figure buy too. I am in the middle of changing horses and the timing couldn't be better (this time).
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Old 02-02-2018, 07:25 PM   #46
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How long has it been since we saw a 5-10% correction? (of course corrections sometimes turn into bears.)
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Old 02-02-2018, 07:29 PM   #47
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I’ve experienced a $250k give back and expecting at least another $250k before this correction, if you can call it that, runs its course. But I still feel confident that this is a mean reversion from a very over bought level as others have suggested.
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Old 02-02-2018, 07:40 PM   #48
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A couple of months ago I was considering buying a sports car.

As I lined up my series of rationalizations on why I BADLY needed a fast, totally impractical car, one of my considerations was "the stock market is way up. I could lose this much in a single bad day."

So I took about one month's worth of monthly investing cash and bought a car instead.

Today I lost almost EXACTLY what the car cost.

Of course, even with this dip, the market is up since I bought the car. So I would still have more money if I had bought the market instead of the car...

... but that interferes with all my complex rationalizations...

... and I really like the car
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Old 02-02-2018, 07:51 PM   #49
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... and I really like the car
Being a car guy, I need to know what you bought!

I have a 2009 Pontiac Solstice with over 400 WHP that I only put 600 miles on last year. Living in Ohio and having kids makes it very difficult to get it out. The good news is, my parents are moving to Arizona in 3 months and I'm secretly giving it to my Dad. He worked 47 long years and doesn't like spending money, but he won't have a choice in the matter
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Old 02-02-2018, 07:56 PM   #50
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I sold about 1.5 years living expenses last week. Feeling decent about that. The headline I saw today that cracked me up was something like “Dow drops more than on Black Monday.” I hope here no one needs an explanation of why such a comparison is ridiculous.
Same here. No magic involved on my part. Just wanted to have the cash available when I needed it.
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Old 02-02-2018, 08:27 PM   #51
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How long has it been since we saw a 5-10% correction? (of course corrections sometimes turn into bears.)
We had a very powerful correction from July of 2015 through Feb of 2016. It coincided with the crash in oil prices.

I think in August alone it dropped 10%, but it didn’t stop until Feb 2016.
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Old 02-02-2018, 08:54 PM   #52
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I usually run a high stock AA of 70-80%. Recently, the covered calls getting in-the-money caused me to sell some stocks, and it's down to 60%. I have been selling put options the last couple of weeks, and if the market drags lower, it will cause me to have to buy stocks and drive the stock AA backup.

Will see if I will regret having to buy, instead of keeping the cash.
Wow, that's quite a quick swing from 80% equities to 60%. Obviously no set AA for you!. Coming from the other side of the fence where I have followed a 50/50 AA ( with a 10% band) upon retirement 15 years ago I must say if I were to follow your approach my sleep point would require some heavy trank as I heard a Brit say. Is there a method to the AA swings or just a gut feel?
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Old 02-02-2018, 09:26 PM   #53
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I read the other day that the people who sold everything in 2008 were FINALLY getting back into the market. My reaction was, "uh-oh."

Last week I blew some dough on a new, shiny, top-end iMac (not pro), and just the other day I posted here about being up substantially over the last year. I stopped short of saying the W-word, but you can still blame me a bit.
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Old 02-02-2018, 09:42 PM   #54
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Took my IRA RMD before the drop.
Feels like a good move to me.
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Old 02-02-2018, 09:51 PM   #55
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Dippity doo da, dippity ay, my oh my, what a wonderful day!
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Old 02-02-2018, 10:21 PM   #56
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Wow, that's quite a quick swing from 80% equities to 60%. Obviously no set AA for you!. Coming from the other side of the fence where I have followed a 50/50 AA ( with a 10% band) upon retirement 15 years ago I must say if I were to follow your approach my sleep point would require some heavy trank as I heard a Brit say. Is there a method to the AA swings or just a gut feel?
Actually, the time I ran 80% stock was when I still had earned income from part-time work. At 2017 year end, I was at a bit more than 70% stock AA, so it was not that drastic a drop down to 60%.

I practice "tactical AA", and will vary it by trying to be a contrarian. Yes, it is more of a gut feel when people are bragging about how much money they make, or when they are lamenting about having to do OMY. Still, I am a stock lover, and only go below 50% stock when things got really bad, such as in 2008.
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Old 02-02-2018, 10:29 PM   #57
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How long has it been since we saw a 5-10% correction? (of course corrections sometimes turn into bears.)
Not that long ago. 2 years?
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Old 02-02-2018, 10:48 PM   #58
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For me, there was a silver lining in today’s (and this week’s) big drop. Last week, I couldn’t help myself and told DW just how much we had gained over the past few weeks. I should have known better, because she immediately started coming up with ways that we could spend our new found treasure. Well, after I showed her our one day loss today (yikes!) she tells me that it’s a good thing we didn’t spend all those gains we (she) thought we thought we had. I think she’s beginning to understand!
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Old 02-02-2018, 10:53 PM   #59
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Not that long ago. 2 years?
Well, that's a long time since your average correction, defined as a 10% drop, happens about once a year.
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Old 02-02-2018, 11:02 PM   #60
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I told Mrs Scrapr at lunch today the market is down big. She says... How big? I reply with a laugh...you know that new Volvo you used to be looking at?

I figured she would hear on the news about the market falling apart. So pre emptive strike

Next week is the MIL. FIL died a few months ago and i am herding her through the Fast Eddie BS. We are likely going to Fidelity or Chuck. But giving the Eddie guy a shot at the book of business. So far he's 3rd in a 3 firm race. She will absolutely ask me about the drop.
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