Is it time to buy yet?
Oil futures down another 3% this morning. I guess it is time to go out and buy that giant gas guzzling pickup.lol, no, apparently not-
Now oil has jumped on the bandwagon, down another $2 to $46. Oil company stocks have single-handedly brought down the entire market before.
Futuers off -.50%, but improving.
I suspect a tiny bounce, maybe more if "bargain hunters" (short covering) start buying in an attempt to find a bottom.....somewhere.
Its been a fairly orderly descent, which is good, not big flash crash panics so far. I am a bit concerned that the talk of recession will become a self-fulfilling prophecy. People sell the market because of fears of recession
I don't think we will hit the bottom for another few months. It will go up and down but the overall trend will be down.Is it time to buy yet?
I don't think we will hit the bottom for another few months. It will go up and down but the overall trend will be down.
I sold and expect to sit out for the next few months.
Trump is gonna tank the economy.
It's not just Trump. He isn't the one that started QE. Companies took out dirt cheap loans, pumped their own stocks through buybacks, and now QE is no longer supporting that. The monetary base of the US quadrupled in the past decade via QE. In a best case scenario, things simply cool down for a while. In a pessimistic scenario, over-leveraged players will bankrupt and send us into a recession. In the worst case scenario, we are witnessing the "Everything Bubble" popping, which would have been driven/funded by QE in hindsight.
Today is the first day I actually purchased a CD. I'm putting 10% into a small 1-3 year ladder. At least I know I won't lose money there - unless inflation goes rampant, in which case I've also got my small allocations of crypto and PMs for that.
We have been in a secular bull market since 2009. Granted there were lots of down periods along way including 2011, 2013, 2015 and early 2018, but we still set new highs - eventually.
Frankly, people were living in LA-LA-LAND. Markets do not go up forever, just as the business cycle is not perpetually in growth mode. The market seems to think we are due for a pull back in growth and earnings based on higher rates and problems with trade that benefited the richest at the expense of American workers.
A healthy pull back is good for long term investors who average in through 401k plans. It is just hard to see stocks you buy today be worth less in just 24 hours.
Those Dow Futures this morning...
I was, and was fairly shocked. Glad to hear it's not that bad.If you're looking at Yahoo, something is wrong. The futures are down but not nearly as much as Yahoo lists (down 650 according to Yahoo). Bloomberg and others have them down around 33 (the Dow).
Regardless, it's another negative day in the making.
I was, and was fairly shocked. Glad to hear it's not that bad.
But but stable genius! Best businessman ever!With that said, the futures are turning sharply negative, at -154 right now. Earlier, were at +90. Near a 250 point drop already. Not looking good.
Cheeto has broken the market badly. Too much stupidity and chaos.
But but stable genius! Best businessman ever!
Early this year I was a bit disheartened that because I bought a house this year, I would be unable to put the type of money into the markets that I usually do (at least certainly not as early in the year). Now, though, boy am I glad. Happy to be spooling up to buy now...ish.Mnuchin working the phones to CEO's this weekend. Is meeting with his "Plunge Protection Team" this morning. A real shit show.
Mnuchin calling the CEO of JP Morgan, Goldman Sachs, Morgan Stanley, Wells Fargo, Bank of America, and Citibank on Sunday while on vacation in Cabo is the reason why we're plunging. Mnuchin claims he called them to check for bank liquidity levels and to make sure it was ample.Mnuchin working the phones to CEO's this weekend. Is meeting with his "Plunge Protection Team" this morning. A real shit show.