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.The market is up? Been too busy with retirement to even notice. Good I need to pay for a new roof and AC. LOL.
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.
See my sig line.
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.
Congrats!
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.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
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.
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.
Unemployment claims rising? Maybe the counting method change contributed uncertainty to the manic market?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 .
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.
Unemployment claims rising? Maybe the counting method change contributed uncertainty to the manic market?
https://finance.yahoo.com/news/jobl...ment-week-ended-august-29-2020-202214668.html
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.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.
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.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. " ...
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...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.
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.Profit taking ?
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
Dow taking it on the kisser .