Fidelity, Vanguard and Schwab are down so I can even log in to scoop up some shares on sale. Argh....

I'd buy but I doubt we are close to the bottom yet.

I cant buy of Drip in or whatever, if I cant log in and the three major brokerages are all down.

I can't get into my Schwab account either. Why is this happening to different companies at the same time? Are the servers overloaded with people reacting to what may be a global economic meltdown?

quote:

Originally posted by kkina:
Why is this happening to different companies at the same time? Are the servers overloaded with people reacting to what may be a global economic meltdown?

Yep. Been watching some commentary on it over the weekend.

Fidelity just came back up, 90 minutes after the opening. Time to see what's on sale.

My guess is the middle east tensions will spark a rise in oil prices shortly so that may be one area to add to my position. Folks in Asia who lost a boatload yesterday will smoke more tomorrow so I may add to my Tobacco positions as well.

quote:

Originally posted by mrvmax:
I'd buy but I doubt we are close to the bottom yet.

IMHO we have been due for a correction and we are going down more.

The VIX is at almost 41.5 now and was at 65 at one point this morning so that clearly had some folks reaching for their squeeze toy.

quote:

Time to see what's on sale.

It could very well be a good time to go in. I'm anticipating the US markets to come roaring back after Mr. T is re-elected.

If Hezbollah launch's some their rocket arsenal the market will dip again. Didn't happen this weekend but could sometime in August.

Vanguard's horrible customer service and general ineptitude SAVED me thousands of dollars! I had an inherited Roth IRA CD in a small bank that came due June 30th and I was planning on moving it to them to invest and started the process June 23rd. After sending the account transfer paperwork to them 5 different times, after having the CD roll into a 6 month at 1% due to them taking so long, after talking the bank into unrolling it back into a savings account at .75%, and after maybe 6 phone calls with Vanguard the transfer funded on Friday and I was able to trade today! Had it funded earlier, I would have bought in significantly higher.

Thank you Vanguard!!!

I suspect the heavy hitting hedge fund companies decided to take some profit. They don't need any fancy news problems to do that, but it helps. Dow was at what, 38K or so? could drop back to 22K for all we know.

A lot of ppl pointing out that the retail investors are all "down" while institutional investors can trade.

https://x.com/rawsalerts/status/1820461876620280103

Surprisingly, I had no trouble with my Fidelity or eTrade accounts, but the market bounced fast enough that I missed a chance to jump on any bargains. AAPL and AMZN were both down over 10 percent at the open and rebounded 6-7 percent in less than an hour. oh well.

Schwab was down for me in the first hour of trading, but that's amateur hour anyway, when people make emotion driven mistakes.

This is likely just the beginning of a significant correction. Lots of warning was out there for months, so it shouldn't have been a surprise. Probably there will be a bounce in the days ahead, which could be a great opportunity to play some shorts, but I am not in the gambling business. A bounce will likely be a short lived head fake.

When some downside thresholds are hit I will be buying into bargains. We are well positioned to avoid the bloodbath. Having lived through the tech-wreck and lost almost everything, then riding out the 2008 debacle by ignoring it, the lessons were clear.

I think we’re still at the ‘background noise’ level. No I don’t own a crystal ball, but before today, +9% YTD, over 15% last 12 months.

What’s one to do when we have multi-year drops over 10%? In the early 70’s the market was down near 50%, then flat for 10 years. To me, that’s what real pain compares to.

Just going by the odds, we’re about due for turmoil. I’m talking much more than a short term 5% drop.

quote:

Originally posted by kkina:
I can't get into my Schwab account either. Why is this happening to different companies at the same time? Are the servers overloaded with people reacting to what may be a global economic meltdown?

I could not access my Schwab account this morning but am having no issues accessing it this afternoon.

Fidelity seems to be fine now. I'm buying a few shares here and there.

It’s reported that Warren buffet sold a huge chunk of their Apple stake. Is he calling the top ? Or just taking some off the table.

After rolling over a 401k to an IRA within last year I put it on auto invest every 5th and 20th. Still sitting on About 80% cash. I’ll watch it this week see if any buying chances come along.

In late winter and early spring 2020 when the world went stupid with covid on the horizon I bought some stuff that is still up hugely including the price of oil if you recall went negative for a while. If your timeline is very long and you don’t need immediate cash, Next few days and weeks could be a time to go long. Buy when others are selling and all that.

^^^ I think this is his second sell of Apple, but last I read, it was still a huge portion of his portfolio. In fact, I think still the greatest holding.

I own it and have owned it a long time. I recently read an article from a analyst that he still likes the company a lot and reasons why. It made sense to me.

Since I own quite a bit, I have been trimming a bit every now and then for house projects.