Community Chat

[songbird]

It was up for 90 seconds, before it shut down.  Freezes happen when stock drop to a certain point.  Then it automatically stops.  

It will be fatal for the stock market today with all the closing, lose of income with service companies closed.

My husband watches it each day and tells me the (mostly) bad news.  

I'm at home, but at work.  So I'll see you all later...

[BlueFinch]

It sure does'nt make for a sunshiny day, does it. They were just saying that if the market closes today, near, or where it stands right now, it will be the worst percentage trading fall, in one day, since 1929. Yikes, we're in big trouble.       

[novamc1]

I don't think we're "in trouble" at all.

  The sun will shine again when the economy recovers from the inevitable setback of business slowdowns  and other consequences of the new virus.  It was time for a normal market correction, anyway. 

I've kept a log of the closing value of my trading account every day for the past couple years.  In recent months, it  was rising by an unrealistic  thousands of dollars every day. 

I knew  this pace of gain wouldn't and couldn't last, even if a new virus hadn't helped put on the brakes.

The market will move  upward or at least stabilize, for sure, eventually.  Here's why I think that..........

.There is too much money in people's hands that is either not invested at all or  was recently pulled out of the market in a panic, and that money has to go somewhere  to make people some money.  These people include international investors who put huge amounts of money into U,S. stocks because of confidence in our economy.

No one knows whether the skies will clear in six weeks, six months, six years or a decade, but as long as our "current" world problems are the only ones we have to deal with, I can see things getting better again. 

We haven't reached the end of  the world yet, anyway.

Untill then, I'm remaining hopeful and remaining invested.

[patbz]

In 1987, the market had a horrible day (at that point, worst drop since 1929).  I asked my Dad if he had suffered heavy losses; he replied "Its only a paper loss unless you sell".  That has been my investment motto ever since.  There are some who post here regularly who have recently made comments along the line "I know nothing about our investments, so and so deals with it".  Imo this is ridiculous, your investments are one of the things you depend on to make sure you'll be alright, regardless.  If you don't know about your investments, take a class, get involved with your broker, start following the financials online.

[novamc1]

@patbz 

My father died with a stock account that he had held onto for many decades.  He left this world a wealthy man, even though he never spent much money and lived like he was poor (and, LOL, made us kids think we all were poor, too--it was the Depression mentality that he grew up with.)

He never sold a thing........selling a stock was NOT in his DNA, I guess.

He suffered through many market ups and and downs, and I've lived through a couple of big ones, myself.  

Buy stocks in good, proven companies when prices are low...........and then just stay there.  

(My outlook on all this is not right for everyone, of course.)

[RinaRina]

Honestly, there's no place else to go (if not stocks) but Real Estate.

I just got this email from my bank today:

"The Federal Reserve has made two emergency rate cuts in the last two weeks due to the global economic downturn that is occurring as a result of the COVID-19 pandemic. These rate cuts are designed to help stimulate the economy with an injection of funds.

Because of the recent Fed rate cuts, interest rates are in flux, and we expect that the volatile rate environment may continue for a while. In the next few weeks, you may see rates on your accounts decrease; if those changes are made, you will be notified. "

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Hahaha!

Remember when (30+ years ago) people used to put their money in CDs or savings accounts because it was "safe" and interest was double digits?

Those days are over!