This Market Is Crazy - What do Y'all Think???

The market is up? Been too busy with retirement to even notice. Good I need to pay for a new roof and AC. LOL.
 
nobody said:
The market is up? Been too busy with retirement to even notice. Good I need to pay for a new roof and AC. LOL.
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good luck finding a roofer that isn't booked as far as the eye can see. Around here, contractors are jammed solid. A pool constructor I know has 50 requests for new pools - and I'm in a semi-rural area.
 
COcheesehead said:
Put aside some money for now, the next few years, some for much later, that you won’t touch no matter what and the middle gets filled with some of each. Then enjoy life.
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we're not touching them now. we don't need or use any part of our investments for day-day living which are heavily weighted on the equity side. between cash in the bank, SS and pensions we're set for the forseeable future. even if my wife's state pension (Illinois) dries up we'll be fine, day-day. been thinking of moving the retirement accounts to cash.
 
Golden sunsets said:
11:00 AM 9/3. The Lord giveth and the Lord taketh away. Down 2%.


PS I don't believe God has anything to do with the markets. But the quote seemed appropriate today.
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Lol, I use this phrase only, "The market taketh what the market giveth"
 
dp226 said:
I keep thinking that every month a large amount of money comes into the market via 401k/403b/etc that has to be put somewhere. With the low interest rates and the large amounts of folks investing being far from retirement there is no problem with the supply there is no problem with cash to invested.

I think that the FED keeping interest rates down keeps that money out of bonds/cds/etc . I think many people are younger with no pensions and have the attitude to swing for the bleachers and have time to survive any downturns. Also if they don't, they will never be able to retire. That is the attitude of most of my employees. Put the money to work in the 401k wherever the biggest stock profit is.

With the large amounts of cash and the push to put it into growth/tech I am not surprised that the prices continue to go up. I can't see any big changes since it is in no ones interest to change this (until it is which I think is near the election at the earliest).

Of course, I am probably wrong
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I hope you are right because I agree. In fact, I am betting on it! 3Q should show even worse company financial results, but very few of them are listed or they are being overwhelmed by the tech stars.
 
S&P down 3%+. OMG
Time for the Fed to start buying individual stocks.........
 
Anybody seen any news stories explaining this? I saw one way early saying something about a FED statement but I can't find it now. Otherwise there is a conspicuous lack of "emergency financial news articles" telling us what it's happening.
 
Dow taking it on the kisser :(.
 
Below the -4.0% mark, the S&P500.

Got tired of just standing here, and sold INTC Intel and bought SPYD Schwab U.S. Dividend Equity ETF.
 
razztazz said:
Anybody seen any news stories explaining this? I saw one way early saying something about a FED statement but I can't find it now. Otherwise there is a conspicuous lack of "emergency financial news articles" telling us what it's happening.
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I read this one on CNBC this morning before the big drop -


Asset prices could be on the cusp of a sharp collapse known as a “Minsky moment,” and may retest lows last seen in March, according to Ron William, market strategist and founder of RW Advisory.
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https://www.cnbc.com/2020/09/03/mar...l-minsky-moment-collapse-strategist-says.html
 
razztazz said:
Anybody seen any news stories explaining this? I saw one way early saying something about a FED statement but I can't find it now. Otherwise there is a conspicuous lack of "emergency financial news articles" telling us what it's happening.
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Profit taking :confused:?
 
A reason? 1592665375-20200620.jpeg
 
razztazz said:
Anybody seen any news stories explaining this? I saw one way early saying something about a FED statement but I can't find it now. Otherwise there is a conspicuous lack of "emergency financial news articles" telling us what it's happening.
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Why would you think that anyone in the news business could provide an accurate assessment? With billions of shares changing hands, the newsie would have had to interview thousands of traders in order to determine any kind of a consensus. This is impossible. So what we get is whatever the newsie's guess might be and it's approximately as useful as anyone else's guess.

bjorn2bwild said:
I read this one on CNBC this morning before the big drop -

"Asset prices could be on the cusp of a sharp collapse known as a “Minsky moment,” and may retest lows last seen in March, according to Ron William, market strategist and founder of RW Advisory. " ...
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The thing about the chattering classes is that their number is so huge and the predictions so random that inevitably someone's guess will be right and that monkey will be considered a "genius monkey" until he/she makes a few more predictions.
 
razztazz said:
Anybody seen any news stories explaining this? I saw one way early saying something about a FED statement but I can't find it now. Otherwise there is a conspicuous lack of "emergency financial news articles" telling us what it's happening.
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Sometimes there is no apparent reason. With unemployment high, bankruptcies rising, stimulus expiring and Covid with us for the long haul, it doesn't come as any surprise to me. The new highs weren't justified by anything I know of. Just another day in the crazy market for long term investors...
 
frayne said:
Profit taking :confused:?
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I hear this a lot during these situations, How did all those people manage to coordinate everybody deciding to take profits on the same day? Altho, if they think some sort of disaster if pending then, yeah, I guess they want to take their profits while they still exists.

No, This is some sort of reaction to something highly discomforting. That "Fed statement" thing I mentioned and something about unemployment were mentioned. Altho, Cheese! Like we've had mass unemployment for how long now? What could have changed that much to cause today's action?

And I'll take the opportunity to thank the peeps who answered my question with links to various articles
 
razztazz said:
I hear this a lot during these situations, How did all those people manage to coordinate everybody deciding to take profits on the same day? Altho, if they think some sort of disaster if pending then, yeah, I guess they want to take their profits while they still exists.

No, This is some sort of reaction to something highly discomforting. That "Fed statement" thing I mentioned and something about unemployment were mentioned. Altho, Cheese! Like we've had mass unemployment for how long now? What could have changed that much to cause today's action?

And I'll take the opportunity to thank the peeps who answered my question with links to various articles
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Heard that the drop was due to Fauci disputing story about vaccine becoming available in November. Interview was on CNN this morning.
 
easysurfer said:
Dow taking it on the kisser :(.
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The Dow is down merely -2.78%, while the S&P is down -3.51%.

The Nasdaq took it under the belt: -4.96%. Not surprising, as the tech stocks had been going up the most.

Investors have been edgy with the recent runup, and quite anxious. The VIX jumped up on Monday, and kept climbing while Tesla and Apple set new highs after their stock split event, which should have been irrelevant. Of course newcomers to the market did not know that, and kept bidding up these 2 stocks.

Selling is contagious. Once it starts for whatever reason, selling begets more selling.

I have a bunch of out-of-the-money covered call options expiring worthless soon, and I will pocket their premiums, as usual. Rinse and repeat.
 
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