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Probably a good day to buy
Old 02-24-2020, 10:44 AM   #1
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Probably a good day to buy

I would think today maybe a good day to use some of that dry powder. Looks like down ~900 and maybe a good time for a fast turn around.
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Old 02-24-2020, 10:46 AM   #2
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Seriously - one big down day? That is usually just the beginning.
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Old 02-24-2020, 10:49 AM   #3
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I'll wait a bit but will call FIDO to transfer some MF shares from tIRA to Roth to complete this year's move.
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Old 02-24-2020, 10:50 AM   #4
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It's hard to say. This has the potential to become a correction or maybe worse. If we go down in correction territory then it becomes more interesting. Right now I think it's better to be patient.
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Old 02-24-2020, 10:56 AM   #5
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It could recover, but more likely is it will recover a little bit today then drop some more tomorrow.

I expect the SPY to be under 300 by March but I am just going to hold cash instead of buying puts again because you never know what the government might do to shore up the market.

We have come well into nosebleed territory and have only dropped back a few %. Lots of room below....if helicopters don't start dropping money, which they might, they might indeed.
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Old 02-24-2020, 10:56 AM   #6
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Arghhh! Noticed we were out of balance so took 40k of VIIIX and moved to VBTIX yesterday afternoon to occur at today's closing. Locking in the loss and paying high. Should have waited until today to decide.
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Old 02-24-2020, 11:13 AM   #7
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Arghhh! Noticed we were out of balance so took 40k of VIIIX and moved to VBTIX yesterday afternoon to occur at today's closing. Locking in the loss and paying high. Should have waited until today to decide.
Been there, done that - just not this time.
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Old 02-24-2020, 11:23 AM   #8
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Not until there's teeth gnashing and wailing that they should have waited a bit more before buying.
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Old 02-24-2020, 11:24 AM   #9
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I would think today maybe a good day to use some of that dry powder. Looks like down ~900 and maybe a good time for a fast turn around.
We still have a market, so somebody out there agrees with you. I'll sit today out.
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Old 02-24-2020, 11:25 AM   #10
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I am still working, so I am holding fast with my 401K equity position, with the knowledge that I have more buying power in a down market...which will eventually go back up in the next 10 years (my FIRE date).
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Old 02-24-2020, 11:28 AM   #11
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"A good day to buy." Wasn't that what Crazy Horse said?
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Old 02-24-2020, 11:33 AM   #12
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Originally Posted by Callitaday2022 View Post
Arghhh! Noticed we were out of balance so took 40k of VIIIX and moved to VBTIX yesterday afternoon to occur at today's closing. Locking in the loss and paying high. Should have waited until today to decide.


The premarket action was way down yesterday afternoon. I presume you didn’t check. Just saying it’s a resource available for submitting orders when the markets are closed.
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Old 02-24-2020, 11:40 AM   #13
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After skim-reading this thread, I have decided to turn the computer off and go do some yard work for a couple of hours. In the afternoon, my friend is coming over and, with the help of a few IPA's, pot stickers, and Girl Scout cookies, we're going to fill out our mail-in ballots for the CA primary. Voting party!

I'm not sure what the results of mixing pot stickers, hoppy beer, and Girl Scout cookies will be, but it can't be worse than that sinking feeling experienced when viewing the market indices on a down day
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Old 02-24-2020, 11:43 AM   #14
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Just perused the “Coronavirus—>cash “ thread. I don’t ever recall this forum being so pessimistic or reacting so quickly. I raised a bit of cash myself just based on gut feeling. I put 2 more years of spending in cash for a total of 10.
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Old 02-24-2020, 11:53 AM   #15
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Originally Posted by audreyh1 View Post
Seriously - one big down day? That is usually just the beginning.
+1

It's just down to where it was when I sold $30K worth for 2020 spending money, which I later regretted a bit as it went up, so now I feel fine
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Old 02-24-2020, 11:53 AM   #16
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Any opinions on different sectors? I expect that when/if this gets loose in the US lots of people will be staying home as much as possible, especially the elderly. My uninformed guesses:

Up: Healthcare, delivery services, supermarkets (maybe, need to eat), video on demand

Down: Insurance, transportation, theaters, restaurants, manufacturing, oil
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Old 02-24-2020, 12:12 PM   #17
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Will it be “catching the falling knife” to buy today? Also, assume one is buying in a down market what stocks are down as part of the overall market sell off because of coronavirus but actually are not affected or have little to no exposures to China and shouldn’t have been down?
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Old 02-24-2020, 12:28 PM   #18
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I've trimmed a bit of equities in my IRA in order to raise cash for my RMD pull later this year while the market is still up. Now I am at about 20% equities in my overall AA. I do have a load of cash sitting at 2+ %. Not a gambler here at 76 years old.

If this "virus incident" gets real bad and the market takes a real dive, I have gunpowder.
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Old 02-24-2020, 12:44 PM   #19
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LOL! Interesting down or up I stand pat so doesn't matter to me much either way what happens.
That virus epidemic has got things stirred up world wide. I think short lived unless this virus epidemic picks up steam. IMO
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Old 02-24-2020, 02:23 PM   #20
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I bet the stockbrokers love volatile days like this since they get paid whether we are buying or selling : volatility is their friend
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