Down Day in the Market !

[NW-Bound]

Audrey - if is was 1995, I could excuse the lack of connectivity and failure to be able to execute - BUT, it isn't - it's time for the financial institutions to work as well for us as it does for the big traders.

I am guessing here that because Vanguard does not cater to the active investors, they do not usually have this volume of trading. Hence, their computers got swamped.

On the other hand, one of my brothers who used to be in IT of Schwab said that if their computer conked out on a day like this, heads would be rolling.

Brokerages like Schwab make money on trading volumes, not on whether the stocks go up or down. And missing out on trading fees on a busy day is like having an empty hotel room for that night; the opportunity is gone and you cannot regain it.

 

[MRG]

MRG - using their brokerage side ...couldn't even get to my accounts - at all.

I'm not trying to create a major issue, and, could understand it being a "state of the art of IT" if all institutions were having same problem - but, in the case, it did happen - and, while I have small data set of three institutions, Vanguard's was the one that let me down.

Again, you should contact them! There's a lot to state of the art IT, including specific third-party networks and service providers. Just because your PC had issues contacting one web site you blame the provider?

I haven't heard of other folks not being able to get to Vanguard, including myself.

Perhaps you had an issue because Vanguard detected fraud against your accounts and proactively locked access? Just as possible from what I've read.

There's a lot of reasons why you might not have been able to get in. Until you allow the providers to speak their side, it's roast beef!

 

[jazz4cash]

Hmmm ... reason I am asking, is that I don't think it is reasonable any longer for financial sites to crash based on volume ...it is their business. I was using two other institutions sites and no issues at all - not even a slow down.

I agree. I am far more concerned by this than the market pulling back.

 

[NW-Bound]

Have y'all checked to see how much your stash got trimmed today? I mean to ask the ones who are awake, not the ones who are purportedly sleeping (and would not read this thread anyway).

I have. In dollar amount, it came very close to the drop I suffered on Monday 2011/08/08. On that day, the Dow dropped from 11445 to 10810. That's a drop of 635, or 5.5%.

I had significantly less than I do now, so that dollar amount was a bigger percentage then. Been there, done that. It's still "fun".

PS. On that Monday of 2011, the S&P suffered a 6.67% drop (from 1199 to 1119).

 

[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

 

[Turboslacker]

Entertaining as heck, for now... Untill it ain't LOL

 

[RetiredGypsy]

Have y'all checked to see how much your stash got trimmed today?

For me, from the high that was just before the end of January, it's a 6.47% drop. From the beginning of the year, it's a 2.4% drop.

 

[copyright1997reloaded]

I haven't heard of other folks not being able to get to Vanguard, including myself.

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.

 

[NW-Bound]

For me, from the high that was just before the end of January, it's a 6.47% drop. From the beginning of the year, it's a 2.4% drop.

I was talking about a single day drop. In terms of YTD, I am now in negative territory at -0.5%.

 

[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.

 

[RetiredGypsy]

I was talking about a single day drop. In terms of YTD, I am now in negative territory at -0.5%.

In that case, 3.24% down from Friday to today.

 

[sanfanciscotreat]

I am seriously considering taking our RMDs tomorrow. Our returns ytd are stellar and if Friday reflects a change in market direction having extra cash in a taxable account will give us the opportunity to buy back at a lower price point. Another option would be to convert RMDs to cash in the tIRAs and let that $ sit earning interest in a money market account until there is something I want to buy in our taxable account.

We aren't big spenders as you can see that interest growing tax free in our tIRAs is worthy of taking into account.

What would you do?

Well,,,,did you do it before the drop Monday?

 

[Release The Hounds]

Have y'all checked to see how much your stash got trimmed today? I mean to ask the ones who are awake, not the ones who are purportedly sleeping (and would not read this thread anyway).

I have. In dollar amount, it came very close to the drop I suffered on Monday 2011/08/08. On that day, the Dow dropped from 11445 to 10810. That's a drop of 635, or 5.5%.

I had significantly less than I do now, so that dollar amount was a bigger percentage then. Been there, done that. It's still "fun".

PS. On that Monday of 2011, the S&P suffered a 6.67% drop (from 1199 to 1119).

I "lost" $33K today. But for a while there, I was increasing by $10K about every 2-3 days.

Nutty market.

 

[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.

 

[Mulligan]

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

 

[Chuckanut]

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]

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]

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]

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]

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/busi...y-930pm:homepage/story&utm_term=.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]

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]

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.

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]

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]

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]

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.