Stock Market

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RoadScholar
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Re: Stock Market

#151

Post by RoadScholar »

Fine by me. I have a lot in collectibles, which tend to go up when the stock markets go down. As long as they're bona fide rarities and you didn't buy them during a bubble.
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Princess foofypants
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Re: Stock Market

#152

Post by Princess foofypants »

Yeah, it was a lot of fun knowing the market was going to open down over 900 points, in the middle of “I lost all my tax forms and am already at the cpa” season. I’ve discovered that answering the frantic calls quickly and calmly seems to assuage some fears.

I’m still heavily in the market because we still have some time left before we will need it and quite a few good blue chip stocks pay dividends that are much more attractive than these terribly low interest rates. I think the market is doing well despite Trump but I have no qualms about making money.

One of these days I’m going to get irritated enough with a “psychic” client to ask why a psychic needs to ask me what the market is going to do. 7, yes 7 times today.
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Re: Stock Market

#153

Post by Panch Villlain »

The DOW was at 20 000 in Jan. 2017. Heading there now.
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Re: Stock Market

#154

Post by ZekeB »

Trump meant the Dow Joans. He's safe from the cannon. I wish this correction would happen four months down the road.
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Re: Stock Market

#155

Post by Suranis »

The guy that last week put 14 infected Coronavirus patients onto a plane with 300 people, against the advice of the CDC, is worried about the Virus's effect on the Stock market. Because without the Stock Market he has fuck all to boast about.
Kyle Griffin
@kylegriffin1
WaPo last week: Trump has told advisers that he does not want the administration to do or say anything regarding the Coronavirus outbreak that would further spook the markets. He remains worried that any large-scale outbreak could hurt his reelection bid.

https://t.co/0QeqNu0C0X?amp=1
Posted after the Dow lost 1000 points in a day. Because the dow and the Cronavirus are the same thing to put in a tweet.

Donald J. Trump
@realDonaldTrump
·
19h
The Coronavirus is very much under control in the USA. We are in contact with everyone and all relevant countries. CDC & World Health have been working hard and very smart. Stock Market starting to look very good to me!

Donald J. Trump
@realDonaldTrump
·
3h
Cryin’ Chuck Schumer is complaining, for publicity purposes only, that I should be asking for more money than $2.5 Billion to prepare for Coronavirus. If I asked for more he would say it is too much. He didn’t like my early travel closings. I was right. He is incompetent!
Reminder, this guy shut down the entire Pandemic section of the CDC and NSC. And I would guess the "early travel closings" part is another reference to the stock market.
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neonzx
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Re: Stock Market

#156

Post by neonzx »

Sterngard Friegen wrote: Mon Feb 24, 2020 11:58 am The market will bounce back tomorrow. By between 30% and 50%.
Which tomorrow..? :think: :?
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Re: Stock Market

#157

Post by Orlylicious »

The CNBC pundits all said (and are trying to say today), don't worry, it'll come back and even be bigger. Larry Kudlow just said this might be a good time to buy stocks (if you have a long time horizon). Liar. -785 at 2:19pm.

They've buried this story which was the screaming headline yesterday:
Turnaround Tuesday? Stocks tend to bounce back quickly from market drops like this one
PUBLISHED MON, FEB 24 20205:07 PM EST UPDATED MON, FEB 24 20206:10 PM EST
Pippa Stevens @PIPPASTEVENS13

The major averages all slid more than 3% on Monday as the number of reported coronavirus cases outside of China rose. If history is any indication stocks may be set for a relief rally on Tuesday. According to Bespoke Investment Group, since March 2009 the S&P 500 has fallen more than 2% during a Monday session 18 other times, and that in 15 of the prior instances the index rose the following day, for an average gain of 1.02%.
Monday’s trading session was a bloodbath for the market as all major indices slid more than 3%, but if history is any indication, Tuesday might prove to be a different story entirely.

According to Bespoke Investment Group, Monday was the 19th time the S&P 500 has shed more than 2% on a Monday, going back to March 2009. In the prior instances, following a hefty slide the index has, on average, returned 1.02% the next day as these drops have “historically been bought with a vengeance in the near term,” the firm said. Bespoke found that in 17 out of the 18 prior instances the S&P 500 also had a positive return over the subsequent week, with an average gain of 3.16%. Over the next month, there was an average gain of 6.08%.

The Dow Jones Industrial Average lost 3.56%, or 1,031 points on Monday, while the S&P 500 and Nasdaq fell 3.35% and 3.71%, respectively. Slicing the data even further, Bespoke found that when the S&P 500 drops more than 1% on Friday and more than 2% the following Monday — as the index has currently done — Tuesday’s gain is, on average, slightly higher at 1.5%. The following week’s gain stands at 3.98%, on average, with the subsequent month’s gain coming in at 6.47%.

Since the SPY, which tracks the S&P 500, began trading in 1993, it has only fallen more than 1% on a Friday and more than 2% the following Monday 13 other times. The last instance was in December 2018. Monday’s sell-off was sparked by a surge in reported coronavirus cases outside of China, fueling fears of a prolonged global economic slowdown. “The fact that the market is down a lot like this today I don’t think is surprising given that people are rightly concerned that it may be spreading,” Bespoke’s Paul Hickey said Monday on CNBC’s “Power Lunch.” “We don’t know where it will go, and that’s the problem ... as data comes in, only time will tell.”

He said that data out of China cannot be 100% trusted, meaning that data coming out of other countries is being closely watched, which is why the increase in cases from Italy and South Korea, for example, “rightfully” freaked out many investors. “If we go tonight and there’s not another big escalation of cases, I think you could just as easily see the market up strongly tomorrow on some relief,” he said.
https://www.cnbc.com/2020/02/24/turnaro ... s-one.html

Let's keep a list of the pumpers who were shown to be absolutely wrong:

1. Bespoke’s Paul Hickey
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Re: Stock Market

#158

Post by TexasFilly »

CNBC is almost fun to listen to these days. I heard the Kudlow interview there. DJIA down 894 at time of this post.
I love the poorly educated!!!

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Re: Stock Market

#159

Post by tek »

Kudlow is such a goddamn idiot.

I don't think he's ever been right about anything. Which explains his presence in the Trump White House.
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Re: Stock Market

#160

Post by Dr. Kenneth Noisewater »

It's currently down 832 points from yesterday
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Re: Stock Market

#161

Post by tek »

This graph looks like "irrational exuberance" to me.. but I'm an engineer..

d-2.jpg
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Re: Stock Market

#162

Post by Suranis »

"irrational Exuberance" is pretty much what the Stock market is built on
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Re: Stock Market

#163

Post by Sterngard Friegen »

neonzx wrote: Tue Feb 25, 2020 1:54 pm
Sterngard Friegen wrote: Mon Feb 24, 2020 11:58 am The market will bounce back tomorrow. By between 30% and 50%.
Which tomorrow..? :think: :?
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Re: Stock Market

#164

Post by Orlylicious »

Swung from a +200 on the Dow Futures to a -200. It was -150 at 4am. S&P is included :P


430am 2-26-20.JPG

Futures reversed course to move lower as U.S. stocks look set to continue their worst two-day rout in more than four years amid heightened concern the coronavirus will upend global economic growth.

As of 4 a.m. ET Wednesday, futures on the Dow Jones Industrial Average fell 152 points, pointing to an implied opening loss of 98.36 points for the index. S&P 500 and Nasdaq futures also pointed to opening losses for the two indexes on Wednesday.

Futures had started brightly Wednesday morning but reversed course through the early hours. Futures also bounced initially Monday evening before the market fell again on Tuesday. Investors are awaiting updates on the coronavirus infections around the world, especially in China, South Korea and Italy.

Stocks plunged for a second day on Tuesday, with the Dow tumbling 879 points, bringing its two-day losses to nearly 1,900 points. The S&P 500 wiped out a whopping $1.7 trillion in just two sessions. The equity benchmark nosedived 6.3% since Monday, suffering its biggest two-day drop since August 2015.

“Investors are clearly expecting more bad news — and rather than wait for it, they are selling,” Brad McMillan, chief investment officer at Commonwealth Financial Network, said in a note. “There are signs in the electronics and auto industries that the slowdown is already happening, which will be a drag on growth. This risk is largely behind the recent pullback in global markets.”
https://www.cnbc.com/2020/02/25/dow-fut ... slide.html


Of course it could swing back... and if IMPOTUS and Larry Kudlow say it's a screaming time to BUY, it must be, right? :towel:
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Re: Stock Market

#165

Post by fierceredpanda »

The DAX and FTSE are down in early trading. I think it's safe to say that global markets are finally understanding that the coronavirus doesn't have to be super lethal to seriously fuck with just-in-time supply chains, not to mention the travel and hospitality sectors. Bond yields are ridiculously low, gold and the dollar are up. Can you say "flight to security?"
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Re: Stock Market

#166

Post by ZekeB »

The stock market has been a house of cards lately anyway. This merely shows how weak the supporting columns are. Other economic indicators haven't shown nearly as much growth to justify the growth of recent months.
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Re: Stock Market

#167

Post by Sterngard Friegen »

U.S. Stock Futures
S&P -46.50 / -1.50%
Level 3,063.75
Fair Value 3,115.63
Difference -51.88
Data as of 12:05am ET
Nasdaq -133.75 / -1.51%
Level 8,716.50
Fair Value 8,877.71
Difference -161.21
Data as of 12:05am ET
Dow -407.00 / -1.51%
Level 26,507.00
Data as of 12:05am ET
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Re: Stock Market

#168

Post by NotaPerson »

This may have something to do with today's awful start....
Goldman Sachs revised its earnings estimate for the year for U.S. companies to $165 per share, representing 0% growth in 2020.

This is a dramatic break from the consensus forecast of Wall Street, which still calls for earnings to climb 7% this year.

“Our reduced profit forecasts reflect the severe decline in Chinese economic activity in 1Q, lower end-demand for US exporters, disruption to the supply chain for many US firms, a slowdown in US economic activity, and elevated business uncertainty,” the firm’s chief U.S. equity strategist David Kostin said in a note to clients.
https://www.cnbc.com/2020/02/27/goldman ... I6r3GUVZho
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Sterngard Friegen
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Re: Stock Market

#169

Post by Sterngard Friegen »

Sophisticated investors are letting us know what they think of the competence of the Trump Administration in dealing with a crisis which affects the entire world and was not of Trump's own making.
Panch Villlain

Re: Stock Market

#170

Post by Panch Villlain »

The Dow Jones all-time high was

Closing 29,551.42 Wednesday, February 12, 2020

Now at

26,173.67

More than 6,000 points to go down until the era Trump is nullified.

Btw, does the Princess still keep her calm?
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Sterngard Friegen
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Re: Stock Market

#171

Post by Sterngard Friegen »

I moved all my stocks into bonds on August 7, 2019. The Dow closed at 26,007 on that date.
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Re: Stock Market

#172

Post by p0rtia »

Sterngard Friegen wrote: Thu Feb 27, 2020 11:20 am I moved all my stocks into bonds on August 7, 2019. The Dow closed at 26,007 on that date.
I'm opened to suggestions on what to do with my small pile....
No matter where you go, there you are! :towel:
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Re: Stock Market

#173

Post by MN-Skeptic »

p0rtia wrote: Thu Feb 27, 2020 11:58 am
Sterngard Friegen wrote: Thu Feb 27, 2020 11:20 am I moved all my stocks into bonds on August 7, 2019. The Dow closed at 26,007 on that date.
I'm opened to suggestions on what to do with my small pile....
If you have 10 years or more until retirement, just leave your stocks alone.

The biggest problem for investors is that they see the stock market sliding and pull their money out. Then they sit on the sidelines and miss the subsequent turnaround in the market.
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Re: Stock Market

#174

Post by Slim Cognito »

NotaPerson wrote: Thu Feb 27, 2020 10:10 am This may have something to do with today's awful start....
....

“Our reduced profit forecasts reflect the severe decline in Chinese economic activity in 1Q, lower end-demand for US exporters, disruption to the supply chain for many US firms, a slowdown in US economic activity, and elevated business uncertainty,” the firm’s chief U.S. equity strategist David Kostin said in a note to clients.
...
So trump's plan to destroy China's economy to force his big, beautiful trade deal isn't such a good idea?
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Sterngard Friegen
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Re: Stock Market

#175

Post by Sterngard Friegen »

MN-Skeptic wrote: Thu Feb 27, 2020 12:06 pm
p0rtia wrote: Thu Feb 27, 2020 11:58 am
Sterngard Friegen wrote: Thu Feb 27, 2020 11:20 am I moved all my stocks into bonds on August 7, 2019. The Dow closed at 26,007 on that date.
I'm opened to suggestions on what to do with my small pile....
If you have 10 years or more until retirement, just leave your stocks alone.

The biggest problem for investors is that they see the stock market sliding and pull their money out. Then they sit on the sidelines and miss the subsequent turnaround in the market.
My personal investments are in real estate. The stocks were owned by my 529 Plan for my daughter's law school edumacation. Together with her scholarship I have more than enough for the balance of her time. (She's also at the top of her class, so I anticipate her summer clerkships will be cut short by Law Review responsibilities. I have enough to cover everything.)

Since I had enough, I wanted to lock in the amount, not subject to the vicissitudes of an autocrat's lunacy and incompetence. So I am watching the bottom falling out of the stock markets without a dog in the fight.
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