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Chuckanut · 02-05-2018, 07:10 PM

Quote:

Originally Posted by Pilot2013

Some people are happy and feeding the paranoid....

For the first time in 9 years some folks are right.

Don't rain on their parade.

steadystate · 02-05-2018, 07:15 PM

Quote:

Originally Posted by KCGeezer

I look at at as the kids had a loss today, DW and I still have plenty of cushion. No I mean I do dear, you look great.

And ... you're implying cushion is a BAD THING??

Ready · 02-05-2018, 07:19 PM

I lost $150K in value today. But I never felt like the crazy gains we've been seeing lately were real. It was going up so fast it just felt silly to me, so I never got too attached to the value of the investments.

Chuckanut · 02-05-2018, 07:40 PM

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.

Release The Hounds · 02-05-2018, 07:54 PM

Quote:

Originally Posted by Chuckanut

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.

There was a recent article in the Washington Post about a bunch of middle/lower-class Kentuckians relying on Bitcoin as "their pension."

https://www.washingtonpost.com/busin...=.e90f56971561

It's like a slow-motion crash that you know is going to happen. Not sure how much sympathy you can have for people like this after it all blows up.

Running_Man · 02-05-2018, 08:07 PM

Quote:

Originally Posted by Mulligan

Dow futures for Tuesday I just checked at this moment was down 1100 points....Interesting stuff.

The spike of the VIX is busting Volatility Funds big time. Will be interesting as some of the losses can reach as high as 565% of capital invested but obviously a Vol ETF only can lose 100% of it’s capital, most of these held a 20% margin call and so they will be marked at the open, will be interesting to see what the additional losses which are unprotected cause to the market.

With these funds going belly up, the top two of which with over 3 billion in assets and trading on average 1 billion in value each day, the interesting thing will be hedge funds that shorted these and can only get 20% of their “hedged” losses covered. I think it is going to be interesting tomorrow if hedge funds get into forced selling for covering “hedged” losses.

NW-Bound · 02-05-2018, 08:08 PM

Quote:

Originally Posted by Ready

I have an AA of 55/45, and it's days like this that remind me why I don't keep more in equities. Of course it was lots of fun on the way up, but it went up so fast that it never seemed like real money to me.

Quote:

Originally Posted by Ready

I lost $150K in value today. But I never felt like the crazy gains we've been seeing lately were real. It was going up so fast it just felt silly to me, so I never got too attached to the value of the investments.

In just January, I "made" a few hundred K's, about 1/2 of what I made in all of 2017. I did sell just a bit due to my call options getting exercised.

As you said, it did not feel real. And when it does not feel real, you should sell it to convert to cash. It would become real then.

But of course you didn't, and I didn't. Greed gets you every time.

I am now waiting for the market to go back up. And I say every time that next time I will be smarter. Never happens. Greed and FOMO win every time.

Mulligan · 02-05-2018, 08:18 PM

Quote:

Originally Posted by Running_Man

The spike of the VIX is busting Volatility Funds big tie. Will be interesting as some of the losses can reach as high as 565% of capital invested but obviously a Vol ETF only can lose 100% of it’s capital, most of these held a 20% margin call and so they will be marked at the open, will be interesting to see what the additional losses which are unprotected cause to the market.

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.

RobLJ · 02-05-2018, 08:24 PM

Hey, the market "rebalanced" that 3% I was thinking of selling without me having to do anything.
If this continues, I may have to rebalance soon by buying some stock funds!

("It's only a flesh wound." --the Black Knight)

gcgang · 02-05-2018, 08:28 PM

Quote:

Originally Posted by 97guns

I’ll sleep like always tonight, like a baby. I only have 2% in stocks and less than 2% in crypto, everything else is RE and physical gold/silver

I'll sleep like a baby, too-wake up every couple of hours and cry.

NW-Bound · 02-05-2018, 08:36 PM

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Originally Posted by MichaelB

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

Quote:

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 · 02-05-2018, 08:38 PM

Quote:

Originally Posted by Mulligan

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 · 02-05-2018, 09:03 PM

Quote:

Originally Posted by Chuckanut

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 · 02-05-2018, 09:39 PM

Quote:

Originally Posted by NW-Bound

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 · 02-05-2018, 09:51 PM

Quote:

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 · 02-05-2018, 10:58 PM

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/sho...out-1517882936

scrabbler1 · 02-05-2018, 11:44 PM

Quote:

Originally Posted by NW-Bound

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.