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Markets still falling like whoa

Llano Estacado

By Llano Estacado
in Business and Markets

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Eastwood
Eastwood

That's why I'm out. There is no end game, IMO. This has to be fixed outside of the market and I got too nervous about what that entails for retail investors. They will always be last on the list, if o

Rusty Shackelford
Rusty Shackelford
Eastwood
Eastwood

I'm not a financial advisor. This is not financial advise. I don't work in finance. I do not have a degree in finance. Actually, I have a BA and I'm bad at math past Cal I. I won't apologize for the l

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hopkinsnhorns

hopkinsnhorns 533

Posted
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Service Down. The three major U.S. stock market indexes fell as investors continued to worry about the coronavirus, and the Markit Services purchasing manager index unexpectedly came in below 50, the dividing line between economic expansion and contraction.

Economists had been expecting a reading of 53.4, so the reading of 49.4 represented a big miss.

The price of oil slumped 0.7% as investors revised their views on economic growth. Haven investments rose, sending yields on 30-year Treasury debt hit a record low, and lifting gold by more than 1%.

The Dow Jones Industrial Average dropped 207 points, or 0.7%. The S&P 500 lost 0.9% and the Nasdaq Composite fell 1.3%.

Okay, is it time to divest?

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Blotto

Blotto 23560

Posted
Posted (edited)
31 minutes ago, Anastasis said:

Future markets look fun. 

 

giphy (4).gif

 

I'm not selling stocks, but I have a growing assortment of short term options that should do well if the market takes a shit over the next several weeks months. 

Edited by Blotto
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Wally Fairway

Wally Fairway 5570

Posted
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38 minutes ago, Blotto said:

 

giphy (4).gif

 

I'm not selling stocks, but I have a growing assortment of short term options that should do well if the market takes a shit over the next several weeks months. 

Yeah, I have some long-term SPY puts that are a hedge on my portfolio; but just last week I bought some 10-30 puts that will be in the money .... now the game to be played is how long to hold, before theta eats my lunch???

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Anastasis

Anastasis 23480

Posted
Posted
50 minutes ago, Blotto said:

 

giphy (4).gif

 

I'm not selling stocks, but I have a growing assortment of short term options that should do well if the market takes a shit over the next several weeks months. 

Yeah. I am net long but have some options that will pay I. The short term if the market takes a dump. 

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atomheartbevo

atomheartbevo 89755

Posted
Posted (edited)
3 minutes ago, workswithseed said:

Anyone in the mask making biz is making a killing.

And apparently smaller stores are really jacking the prices way up.   3M even mentions they can’t stop price gouging in their press release

https://news.3m.com/blog/3m-stories/3m-responds-2019-novel-coronavirus

Edited by atomheartbevo
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ChiTownDoc

ChiTownDoc 21154

Posted
Posted
On 2/20/2020 at 11:00 AM, atomheartbevo said:

And Iran.  They are freaking out.   If it gets going in the ME, it will be hard to contain.  

Viruses tend to stop spreading in the heat.  If coronavirus is spreading in 80+ degree heat we are in some deep shit especially for the short term as a vaccine is developed.  

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ChiTownDoc

ChiTownDoc 21154

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Posted (edited)
On 2/21/2020 at 1:41 PM, 4thgenhorn said:

I’ve liquidated a bit more today...highest percent in cash I’ve ever had in my life. Also rebalanced 401k to 15% bonds from 5%. 
 

My timing is almost always terrible, so feel free to take the other side of the trade. I don’t have any quantitative reasons other than things have been outstanding last 4 months...by taking some off I can let the rest ride. 
 

Also today is second down day in increasing volume...sometimes that’s start of a correction...sometimes it’s a buying opportunity. Flip a coin. The correct decision for today will be obvious in six months. 

Since you seem new, maybe you have not been hazed about trying to time the market.  Unless you’re into your 50’s it’s honestly not very smart.  
 

There are people who missed most of the last 14 months ready for that big pullback.  Ouch

 

Still riding.  Actually have a decent chunk of bonds that also did well with equities over the past year - if we get that correction those bonds will really pop and I’ll shift that money into equities.  That’s not really aggressive at 40.  I’m finally a fucking man, might as well invest like it.  

Edited by ChiTownDoc
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workswithseed

workswithseed 2109

Posted
Posted
7 minutes ago, atomheartbevo said:

And apparently smaller stores are really jacking the prices way up.   3M even mentions they can’t stop price gouging in their press release

https://news.3m.com/blog/3m-stories/3m-responds-2019-novel-coronavirus

I mean it's all up to the destributors to make the prices they sell not the manufacturer.

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atomheartbevo

atomheartbevo 89755

Posted
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1 minute ago, ChiTownDoc said:

Viruses tend to stop spreading in the heat.  If coronavirus is spreading in 80+ degree heat we are in some deep shit especially for the short term as a vaccine is developed.  

Hopefully that’s the case here.   Now that everybody has seen shit go down over the weekend in Iran, South Korea, and Italy, it’ll be interesting to see how things play out tomorrow in the markets.

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Fudge Nuggets

Fudge Nuggets 19209

Posted
Posted
7 hours ago, ChiTownDoc said:

There are people who missed most of the last 14 months ready for that big pullback.  Ouch

I have seen the market give up a year’s worth of gains in a couple of weeks so they may get a second chance. Problem is, if they missed out on the run up they will probably miss out on getting back in as well. 
 

#teambuyandhold

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BradInATX

BradInATX 9208

Posted
Posted (edited)

Friday before last I pulled all of my "fun" money (the piece of our retirement that I don't just set and forget) out which was primarily SPY at $336.7. I just dumped 1/3 of that back in at 325, so yay, some free SPY stocks for me.  Weighing what to do next with the other 2/3. No idea what next, this market just doesn't make any sense to me these days.

Edited by BradInATX
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Blotto

Blotto 23560

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Posted (edited)

Sat at home waiting for the market to open and immediately dumped the SPY puts (expiring today) and UVXY calls (this week). Bought those SPY contracts (331 strike) for .49  about 5 minutes before the market closed Friday , and sold them for $6.6 first thing this morning. Held the options for less than 10  minutes of market trading time. Like Vegas on crack. WIll probably give most of it back as I try to recreate the magic this week. 

Have a bunch of company specific plays i'm holding onto as they have a couple of months to trend lower (looking at you AAPL). 

Edited by Blotto
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GRHorn

GRHorn 105

Posted
Posted
13 hours ago, ChiTownDoc said:

Since you seem new, maybe you have not been hazed about trying to time the market.  Unless you’re into your 50’s it’s honestly not very smart.  
 

There are people who missed most of the last 14 months ready for that big pullback.  Ouch

 

Still riding.  Actually have a decent chunk of bonds that also did well with equities over the past year - if we get that correction those bonds will really pop and I’ll shift that money into equities.  That’s not really aggressive at 40.  I’m finally a fucking man, might as well invest like it.  

Correct. See: OMG trade war. I’m pulling out/going conservative. 

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