The volatility is just crazy. My wife and I haven't changed our scheduled investing in aggressive funds, but I'm hoping to buy more with a little extra cash we have available at some point. Right now my plan is to wait a few weeks. I think it's still going to be rocky for a bit since the COVID19 numbers are going to get quite a bit worse before they get better even if the restrictions being put in place help out.
Stock Market & Retirement Planning
I bought stocks last Thursday and Friday but have hit the pause button for at least a few days. There will be plenty of time to buy over the next month or more. Nobody picks the bottoms or the tops.
My apple and Sony stocks are the only ones keeping my portfolio afloat lol I've got about 3k in profits there, which I had extra money to buy more but maybe with a refinance and escrow return it could work out.
Barberakb
USAF / Go Cowboys!
The Boeing Company has lost like 25% just today!
Starting toying around with Robinhood as I have never even thought to day trade. It's a pretty decent app for beginners like me, although I may have more luck at a slot machine at the moment.
Man Callaway stock is taking beating in 2020, down 75% since Jan 1. I don't know whether to get in now or wait to see if it drops a bit more, then ride that rebound wave when the economy is back at full speed to a multibagger.
I jumped in to see what will happen. Nothing crazy, but I certainly hope it rebounds.
It's trading at almost half of book value which is pretty crazy
Howzat
I'd Rather Be At The Hideaway
That last sentence is so true. This could be one of those once in a lifetime opportunities to make some real money when it does rebound. There is an insane amount of panic selling going on right now.
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Should have known the meal delivery stocks were going to pop, Blue Apron and Waitr having huge weeks
So what's the bottom line for the Dow Jones now?
I'm thinking it gets close to 15K but would not be surprised to see it drop below 12K before it's over. What do you market experts say?
I'm thinking it gets close to 15K but would not be surprised to see it drop below 12K before it's over. What do you market experts say?
I'm not trying to be a wise guy, but if I knew that, I wouldn't be sitting here at almost 11 pm finishing a report for my boss.
Understood.....I'm don't follow the market like a lot of people so was an honest question. I know the stimulus will rebound it somewhat but I fear unemployment is going to be at an all time high, small business will close and it will be a slow economic return that may take years. Just an honest question to those that might have input.
DG_1234
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From a stock market (and business operations) perspective, my opinion is that the financial impact of the current virus will be significantly worse than the banking industry problems/housing crisis of 12 years ago.
What's happening now to schools, businesses, cities and towns around the world is unprecedented , so at this time nobody can accurately predict the near or longer term financial impact.
I appreciate that. I don't think anyone honestly knows. I'll tell you what I think, but keep in mind I've predicted eight of the last three recessions and missed badly on the size of this one.
I think we are closer to the bottom than the top, and if I were managing my own investments these days, I would be selectively putting some cash to work in quality equities that have been battered, I wouldn't be making any major moves into or out of cash - timing the market - because to win, you have to be right twice - when you sell and when you buy. But then, I wouldn't be making any major changes in my asset allocation anyway, unless I decided to change my strategy, And if I did make such a change, it would be over several months, not all at once.
I have no idea how much closer we are to the bottom, but I will tell you that the market typically is a leading indicator of the economy. In 2009, the market hit its bottom on March 9, and had been going up for six months before the official end of the recession in September, 2009.
Do you work with an advisor? I managed my own portfolio of funds for about ten years and did quite well, but it was a lot of work, and as I get closer to retirement, decided I needed some good advice as well as portfolio management that would help me avoid The Really Big Mistake. So I hired an advisor last year, and it has been eye-opening in terms of how much help they have been able to give me - I can point to a lot more dollars they have made/saved me than I have paid them in fees.
I think the recovery will be pretty robust. This downturn has nothing to do with fundamentals of the economy or financial markets, but two "black swan" (unforeseen, major impact) events - COVID-19 and the Russo-Saudi oil war. The fundamentals of the economy are there, and you can bet that both the US and China will inject massive stimuli into their economies to accelerate those recoveries. The US and China have similar problems in terms of the resiliencies of small businesses. If the governments can keep most of them afloat, the recoveries will go rather well. And for now, it looks like Uncle Sam is going to throw so much money at the economy that some of it HAS to hit small business.
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DG_1234
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DJIA at 15,000 would be about a 25% decline from today's market close, which is certainly a possibility. The stock market pundits who appear on television seem to have perspectives ranging from "selling is overdone and there are great buys available today" to others who proclaim "the stock market can decline more from here". The reality is that nobody knows whether the coming days and weeks will produce higher or lower stock prices.
Personally I don't believe past stock market declines are relevant to what's happening now, because before now the world has never experienced business factors such as, airline capacity down 75%, hotel occupancy down 90%, massive numbers of retail stores and restaurants closing for business etc.... This is unprecedented business stuff so it is very hard to predict how stock prices will be influenced by what's now happening to businesses around the world.
Barberakb
USAF / Go Cowboys!
Here is what I originally guessed so I am going to stick by that. I think that is somewhere around 18500
I hope you end up being right, after sitting on a mostly cash position the past 6-7 months I bought back into the market yesterday afternoon in the 19000 range, mostly blue chips with some high risk/reward plays
Best bourbon for looking at your portfolio? Asking for a friend...
The cheapest based on how it's going now
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Loaded up on TGI at just over $4 last week. Already doubled my money....keep on going baby !
maxw72
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I would be interested in people's thoughts on the results of today's market? Huge unemployment numbers, I believe the estimate was 1.5mm, and the "actual" blows throught it, yet the market has a good day? Any thoughts? I can't believe the growth to be based strictly on the stimulus package? My thoughts are that people are remaining somewhat optimistic thinking that once this COVID-19 clears up that all the people who were laid off will go right back to having a job. Sorry if this doesn't apply to the threads overall title. I thought it did due to the market aspect.
I forgot about this great thread; just getting back into it. My advice: do not look at your portfolio, unless you're sitting on a lot of cash. It'll recover, but right now, it'll look u-g-l-y.