Shaking out retail traders. So long there are retail traders on margin, still go down. Based on article I posted, retail investors (not traders) are doing what I am expecting those who have cash to do, buying index fund and cash-rich rock solid fundamentals companies like AAPL. Doesn’t matter where is the bottom (@Jil could be right, 20-30% more), @Jil is a trader who will never understand why investors are buying here. Investors knew they can’t catch the bottom and so scale in which is what they are doing, scaling in or DCA purchasing, in the long run (many years) is ok. Traders will laugh at them as bag holders, which is usual. TBH, I have yet to sell any VFINX, VFIAX and VOO that I have bought since I landed in this part of the world and aware of such instruments - Remember my intent is to be inherited which is very different from traders and even many investors. So far, didn’t sell any AAPLs too - but I might since historically no companies last very long, there are very few companies last more than 100 years hopefully AAPL is one of those which mean I can leave that decision to my children - so monitoring AAPL for any signs screw-up leadership and bad business model/strategy.
Due to technical issue, my algorithm broke from last Sunday and there is no way for me to know reliable system than this. It is last 3 years work that I am winding off.
I stopped trading few days before this fall, my last trade was Monday Mar 9th, made nice amount this year, moved to cash!
Last few information: As per private analysis/consensus, not my prediction, SPY may touch around $220 to $200. Watch carefully your investments, look at fundamentals as lot of profitless companies may file bankruptcy including WB company like OXY !
Yes, it was good during normal times, that prompted me to sell everything on Feb 19th, never expected this much drop though. I was using yahoo finance python scarper to get updates, which yahoo blocked on last Sunday. It takes me another few months to fix it, it is not worth continuing, winding up forever. My partner and I wanted to stay away from market for a longer time until dust settles.
I do not believe news/media updates as they are 50% right and 50% wrong, they are unreliable source. I see better reliable sources in reddit than anywhere else.
On any case, I won’t be trading any more until recession comes to bottom which is very long way to go, SPY 220 or 200, with UPs and DOWNs.
The market may still have some way to go but we are going into this with the strongest economy in 50 years. The recession - if there even is one - will be shallow and short-lived.
In '87 the Dow fell 35% in a single week. In '88 GDP grew 4% and the Reps kept the White House.
You are right. Time to get rid of loss making businesses. Finally panic, didn’t panic as early as @manch and you, sold off TWLO. Cash only in the cloud portfolio. F… those cloud/ SAAS companies.
Frankly I lost faith in the Trump admin, don’t seem to know how to handle crisis. Even now he is finger pointing to China and Europe. Should be time to co-operate closely, settle differences later.
Now is the time to start buying. The long-term cash flows of companies didn’t suddenly drop 20-30%, but the stock prices did. Yeah, it might not be the bottom yet, but DCA into it.
You know why the travel ban makes no sense. Even in this case trump tried to make sure he can make money and his properties were excluded. With these exceptions the travel ban is idiocy. He is just doing something stupid that he thinks makes him look strong to his fanbase.
Markets will bounce back. At this point it’s almost like a firework show for me. The political fallout though is way more interesting to me. History being made, folks.
Trump is a moron. He threw out random ideas that had not been put through, put in place a travel ban that made no medical sense and broke the global economy (while exempting his properties), spent the morning taunting Pelosi on twitter when she was the only trying to do something.
Yesterday all the republicans said Pelosi’s bill was non-controversial, can be passed, etc. Today after Trump’s tweets, Kevin McCarthy and Mitch McConnell say the bill can’t be passed. I wonder if all of the Republicans are paid off by Russia and aren’t interested in governing anymore.
Don’t want to debate politics either. Yes, it’s a waste of time. Nobody can convince anybody else. Just saying the political stuff is very interesting to watch, from a historical standpoint. Just wish it’s less deadly.
You do not know how much trouble I had after making this algorithm. Those who know me, mainly work or friends, calling me, texting me every hour or so starting from 6 am to 11 pm, esp last one year.
My life was horrible last three months with that.
Now, yahoo blocked it, glad to bring it down, closing the server completely. No one will text me, call me anymore.
Fed is pumping the market, effect may last for a day or two
they need to concentrate on how to slow down/contain the virus than worry about the market
it’s like a blackhole now
Federal reserve announced some stuff. It won’t actually make a difference. Once the reaction to the fed doing something wears off then we will resume the decline.