It's a little difficult when a sizable percentage of the citizens of those countries quietly agree with ISIS.
The sell-off centers around China, Oil, and the Federal Reserve interest rate. All 3 of these things are complete horseshit for If you have any spare cash to invest, today is a massive buying opportunity (I know, who the fuck has disposable cash?). I put in orders. Apple opened at 94 fucking dollars a share, down from around 125 last week. It is now sitting at $101. Someone just made a fuckton of money with a phone call. The DJIA dropped 1000 points on open. Somewhere in the neighborhood of a trillion dollars, vanished in the blink of an eye. In the past 10 minutes the DJIA has put back on 500 points. Another half trillion gained, in the blink of an eye, out of thin air. This is a fucking stupid world and a stupid way to make money. I'm going back to retail. My broker is giddy. But he's right. This is exactly how Warren Buffet made his money. Times of disaster, buy when everyone sells.
I know, day trading is how I kept myself afloat 7 years or so ago when the market tanked. I thought about buying today, but the market is just to damn volatile and I don't need an ulcer.
Its worth stating to anyone reading the last two posts and thinking about jumping on the bandwagon - do not invest if you are not 100% okay with losing that investment. Yeah, AAPL is down quite a bit, but you should only invest in Apple if you believe in them as a company, see a future earning potential, and are willing to weather short-term losses in the hopes of short term gains. Apple is a cruise ship full of cash, but you dont know where the bottom is. Also keep in mind that many analysts already projected that many blue chip stocks (i.e. Apple, Disney, Microsoft,, etc.) are over inflated over the last 2 years, so the DJIA might level out at sub-15K. Trying to play and the time the market does not work without educated decision making. As for people with 401Ks, if you have low-rate index funds, you will be fine.
So I was a bit wrong in terms of the open, but the rally has been STRONG since the dump, I would imagine the DJIA finishes down less than -300, insane considering where we opened. People really overreacted to the China news. I made a lot of money short on Thur and Friday, wish I kept some bearish sentiment into the weekend, but I'm gonna strategically buy this dip, should be interesting.
Not really, it was inevitable. Hell a month ago I stated in this thread that this is what was going to happen. The market manipulation by the Chinese government caught up to them and now they are in a free-fall, taking everyone else with it.
Some folks made millions in the last hour. Gilead Pharmaceuticals, Apple, Netflix, GM have all gone up 10% since the open.
Most definitely. This little tale bears repeating right now... I was heavily invested in GM...1000's of shares, because what could possibly go wrong? I think y'all know what went wrong. I got wiped out. That was my retirement safety net. I was able to sell at it's last rally before plunging into bankruptcy and even then I only got pennies on the dollar. And then I had to go back to work.
China has been dumping for 2 months. A correction to the market manipulation that was way overdue. People were ignoring it here, China would have bad news, we'd shave off 200 pts on the DJIA, and then bounce up the next day. I think we're both right, the Chinese collapse was inevitable, but nothing particularly significant happened over the weekend beyond China amplifying what would have been another needed down day with the big selloff in the US on Friday. Hence people flipped out and sold off hard, overreacting like I said, hence why the bounce was so big this morning. Now if we keep bleeding back down to -600+ on the DJIA, then maybe its more.
You think tomorrow will see more bleeding? I would kill to hear what's going on in some of these brokerage houses right now.
Remember your post about people that just made millions in the past hour? They just sold. Now the market is dropping again. It's going to be like this for a while.
Depends on the kind of brokerage. Also depends if China can stop the bleeding. Take it with a grain of salt and not investment advice, but I would skip over the DJIA and hit the S&P500 with some quick buys if it starts approaching 1500. It wont hit 1500 because trading will be halted for the entire trading day in the US if it hits around 1580, but the time to buy would be after the second trading trigger at 1700 (which causes a temporary halt).
This reversal rally is absolutely insane. Looking at almost a 1000 pt move up from the lows on the DJIA this morning. Short squeeze all across the market. I don't know if that means we are out of the woods (I doubt it) but this is a dip buying dream scenario for the next day or so if you were active this morning.
My guy at Meryll Lynch was fuming a minute ago. It was a perfect storm of legitimate and BS factors. Point is, if you got in earlier today, you are already 10-20% up. I just made a few long term holds at what we consider a 10% discount. I don't know how I feel. Talk to me in January when I need to take my mind off the cold while waiting on the soup kitchen line.
That was easily the wildest day I've ever seen on the market. Wow. Losing 500 points in 2 hours, gaining back 300 in 15 minutes, then shedding 200 in 10 minutes.
Yea, I think the TSX went down 1000 points, back up close to par, then back down 600. People bought when it was low, panic sold encase it tank again, which causes it to tank.
Yeah, it's all a correction, but the wildest correction I've ever witnessed. Look at the aftermarket trading already: (Note....It hasn't dropped another 720 points, about 130. 720 total for the day.) Dow -720.00 / -4.37% Level 15,747.00 Data as of 4:04pm ET
Jesus. Cop shoots mentally ill person brandishing A SPOON 'An Alabama police officer was wearing a body camera that was not turned on when he fatally shot a man who held a “large metal spoon in a threatening manner” as he approached the officer... 'Authorities said they believe Tevis was “suffering from a mental episode” or under the influence of illegal drugs at the time of the shooting.' There's more to the story, like the guy claiming assault in his own home, and a taser having no effect on him, but the main crux is this crazy person was double tapped over a spoon. No word if the guy was trying to steal the rhythm on his own.
The fuck does it matter if it was a spoon an empty hand or a chapstick at that point? The "main crux" are things like:
Gotta love biased reporting! Shit like that is the reason riots are started over lawful acts. The only surprising part of the story is that the officer was able to fatally shoot the man, while he was retreating, with two shots despite all that adrenaline.