Although the past week seemed catastrophic for the equity markets, it wasn't close to a meltdown. I think there has to be a 7% drop in the S&P for even a Level 1 circuit breaker to trip, and we didn't get close to that.

quote:

Originally posted by Bytes:

quote:

Originally posted by chuck416:
I have had a significant pile of cash waiting for this opportunity. But I don’t think we’ll see the bottom of this thing till perhaps mid-March, if then.

Agree 100% but I'm more thinking like July. We'll see if we're right soon enough.

Why wait???? SELL SHORT NOW, then buy back when it hits the bottom, then buy your own shares.

quote:

Originally posted by kkina:
Although the past week seemed catastrophic for the equity markets, it wasn't close to a meltdown. I think there has to be a 7% drop in the S&P for even a Level 1 circuit breaker to trip, and we didn't get close to that.

DJIA went down 10% last week.

quote:

Originally posted by jimmy123x:

quote:

Originally posted by kkina:
Although the past week seemed catastrophic for the equity markets, it wasn't close to a meltdown. I think there has to be a 7% drop in the S&P for even a Level 1 circuit breaker to trip, and we didn't get close to that.

DJIA went down 10% last week.

Circuit breakers are intraday trading curbs:

Level 1 halt (7%)

Trading will halt for 15 minutes if drop occurs before 3:25 p.m.

At or after 3:25 p.m.—trading shall continue, unless there is a Level 3 halt.

Level 2 halt (13%)

Trading will halt for 15 minutes if a second drop occurs before 3:25 p.m.

At or after 3:25 p.m.—trading shall continue, unless there is a Level 3 halt.

Level 3 halt (20%)

At any time during the trading day—trading shall halt for the remainder of the trading day.


(The Dow was down 12% for the week, and the S&P 500, which the breakers are based on, was down 11.5%.)

NYSE Circuit Breakers

Black Monday '87 was nuts. Equivalent today of about 6000 Dow points, down in one day.

quote:

Originally posted by FishOn:
Black Monday '87 was nuts. Equivalent today of about 6000 Dow points, down in one day.

Yep, the Dow lost 22% in a single day, dropping 508 points from 2,246 to 1,738. The incident triggered the development of trading curbs, aka circuit breakers.

quote:

Originally posted by kkina:

quote:

Originally posted by FishOn:
Black Monday '87 was nuts. Equivalent today of about 6000 Dow points, down in one day.

Yep, the Dow lost 22% in a single day, dropping 508 points from 2,246 to 1,738. The incident triggered the development of trading curbs, aka circuit breakers.

I remember it well. Nobody had PCs and you could only pull up one quote at a time. Orders went through with great delay, and at prices much lower than quoted. It was a shitshow.

Don’t forget who started this shit:

Rod Rosenstein’s sister started this panic selling, there was a graph that showed this began RIGHT AFTER she made her announcement that the USA was basically fucked because of Coronavirus.

Don’t tell me there isn’t a Swamp.

I remember 87 well but I was then and am now buy and hold. As I recall the 80s crash, while violent, was just a blip on bull run. The 1700 it fell to was a high a year prior and the lost gain was recovered within about a year. Growing pains. 1980s started with an $800 dow.

I suspect earnings revisions will begin and there not going to be bullish. I worry that with widespread Covid 19 testing to begin, we are going to be seeing a large increase in numbers. This market has not priced in a high probability of a large economic downturn.

quote:

Originally posted by jimmy123x:

quote:

Originally posted by Bytes:

quote:

Originally posted by chuck416:
I have had a significant pile of cash waiting for this opportunity. But I don’t think we’ll see the bottom of this thing till perhaps mid-March, if then.

Agree 100% but I'm more thinking like July. We'll see if we're right soon enough.

Why wait???? SELL SHORT NOW, then buy back when it hits the bottom, then buy your own shares.

Go ahead and do it Jimmy. Risky but could turn out to be a very good move. I'm going to stand on the sidelines a watch for awhile.

Well, the market sure bought the dip! I had several stocks on my radar, but didn't quite have the balls yet.

I think that you folks looking for the bottom have missed it badly!! My portfolio went up over 10K in the early hours of trading, and has not looked back. The "money folks" got their correction.....and big $$$ profits.

quote:

Originally posted by GT-40DOC:
I think that you folks looking for the bottom have missed it badly!! My portfolio went up over 10K in the early hours of trading, and has not looked back. The "money folks" got their correction.....and big $$$ profits.

That’s why I don’t mess with it. Just be consistent over the course of your life and you’ll be set later in life.

The bottom line is you have to be right twice. When to get out and when to get back in.

It’s like catching a falling knife.

quote:

Originally posted by GT-40DOC:
I think that you folks looking for the bottom have missed it badly!! My portfolio went up over 10K in the early hours of trading, ...

Yup. Ours got a big boost, today, too.

quote:

Originally posted by ensigmatic:

quote:

Originally posted by GT-40DOC:
I think that you folks looking for the bottom have missed it badly!! My portfolio went up over 10K in the early hours of trading, ...

Yup. Ours got a big boost, today, too.

The Dow was up 1,300 points today. That's a good start to the recovery.

Jim

Largest one day increase in history?



Bubbatime will be by shortly to tell us we are burning money and it’s headed for 12000

So much for Black Monday.

I certainly don't think it is going to take 18 months, as some "experts" have suggested, to return to record high levels again thankfully!

Big movers today: Charmin and Campbells Soup