Talking Stocks 2.0

[superdog]

Futures massively down.

Oil plummeting.

Crazy....

Tomorrow is going to suck.

[superdog]

Originally Posted by maximus1

With the oil futures being down 25% nearing $30 a barrel we may start to see some panic selling.

Hopefully people will not panic and hold.

[Tan_]

Originally Posted by superdog

Futures massively down.

Oil plummeting.

Crazy....

Tomorrow is going to suck.

Tomorrow is going to be awesome

[superdog]

The last thread of this kind was more on investing rather than just stocks. So please forgive me if I digress.

For years I have been advocating a debt free life. Imho, pay off everything before you starting spending on fun things.

My entire adult life I looked to set myself up debt free. My first condo bought in 2003 I was told by the bank I had been preapproved for 300k. I did the math and that just didn’t work. I could not have paid my bills.

I told my real estate agent to show me less than 200k. First place shows me is 220k. He tells me I negotiate lower. I explained that if he showed me a place over again, I’d find a new agent.

I bought a place for 180k. I lived there a decade and rabidly paid it down. My buddies were all living it up large and spending. Big houses, pools, boob jobs for the wives. Nothing fancy for me during those times.

Then I sold my side hustle business. Paid off everything, bought a small townhouse in cash and put the rest in savings. But at the time I had people suggesting I should have bought a big beautiful home and simply had a mortgage. At the time my day job was growing so things were good. My wife agreed with me. In fact we were just getting ready for the wedding about this time. But keep monthly expenses low was my motto.

I started to get frivolous and have some fun. I had no bills besides some basics.

I continued on that path and only got more dedicated to a debt free life. If I couldn’t pay for it, I didn’t buy it.

I was told over and over and over by people smarter than me I made huge errors along the way. I’d have so much more money right now if I had mortgages and car payments but had my money in the markets.

Maybe that was true. Maybe it’s still true. My response every time was what happens if disaster strikes. If I did it their way, I’ve got big bills, and money in the markets...dwindling. Can’t take that money out. Once it’s out you lock in the loss I’d say. And Id need loot to pay my big bills if I lived larger.

For certain I hate seeing what’s happening. But I’m so glad I did it the way I did it. As I watch this madness unfold, especially as a small business owner, I’m terrified. But I have a certain sense of calm knowing that I set up in this fashion.

I’ve read about consultants being lined up to review layoffs etc. I’m going in tomorrow and cutting my salary by half. Best thing I can do is keep my business solid. I’ve already had a great contract postponed because of a lack of product shipping out of China. If I keep all my resources and become better and more capable than my competition, it creates a great advantage/opportunity for me.

In the past, someone that is now banned, sent me a pm saying that he really liked me and my posts. But that I could come off as bragging at times. It’s never my intention and certainly not now. As most people here know, I’m just extremely open. For better and for worse. Moving on...

And it’s the investment thread and I’m making the point that I do feel vindicated in my strategy over the years. I’ve seen tons of very successful people fail because when the time came, they lost a lot of money and had big bills to boot.

People advocate for “free money” in those “should I finance my Rolex for 0%” interest threads. I would always say no. It’s not free. And it’s still a bill. Pay for it or don’t buy it. Sure they could be earning 6 or 7 perfect in the markets with that money. But when this type of scenario unfolding happens, the wins are erased and they are left with bills to pay for what is ultimately an unnecessary luxury item that is also likely losing value.

Debt free in my opinion. It’s the only way. And maybe there is a balance for most. I realize I’m on the extreme end. But for certain there is a clear advantage to keeping low monthly payments and living below your means until you get to a point of little to no debt.

Just some food for thought.

[superdog]

Originally Posted by Tan_

Tomorrow is going to be awesome

You think so?

I’d love to hear why you think so? Or maybe your sarcasm just went over my head?

[Tan_]

Originally Posted by superdog

You think so?

I’d love to hear why you think so? Or maybe your sarcasm just went over my head?

2 reasons; one philosophical, one financial.

1. There is more to life than money etc. If you and your family are healthy and content then that should* be all that matters.

2. If you day trade, markets gaping like this at the open are a good signal for opportunity in the market. Money to be made on either side. if you're careful of course.

Edit: there was a good amount of sarcasm in my previous post too - i'm fully aware and concerned about the current macroeconomic and pandemic state we're in now.

[superdog]

Originally Posted by Tan_

2 reasons; one philosophical, one financial.

1. There is more to life than money etc. If you and your family are healthy and content then that should* be all that matters.

2. If you day trade, markets gaping like this at the open are a good signal for opportunity in the market. Money to be made on either side. if you're careful of course.

Edit: there was a good amount of sarcasm in my previous post too - i'm fully aware and concerned about the current macroeconomic and pandemic state we're in now.

Not savvy enough for 2. But I’ve got a great guy managing my money. He knows my motto. Minimal risk. Not trying to take advantage really. Just trying to keep it. But I get your point.

And great point on number 1. I mean great point!!! Something we should live by. Thanks for the reminder.

[gnuyork]

Originally Posted by superdog

The last thread of this kind was more on investing rather than just stocks. So please forgive me if I digress.

For years I have been advocating a debt free life. Imho, pay off everything before you starting spending on fun things.

My entire adult life I looked to set myself up debt free. My first condo bought in 2003 I was told by the bank I had been preapproved for 300k. I did the math and that just didn’t work. I could not have paid my bills.

I told my real estate agent to show me less than 200k. First place shows me is 220k. He tells me I negotiate lower. I explained that if he showed me a place over again, I’d find a new agent.

I bought a place for 180k. I lived there a decade and rabidly paid it down. My buddies were all living it up large and spending. Big houses, pools, boob jobs for the wives. Nothing fancy for me during those times.

Then I sold my side hustle business. Paid off everything, bought a small townhouse in cash and put the rest in savings. But at the time I had people suggesting I should have bought a big beautiful home and simply had a mortgage. At the time my day job was growing so things were good. My wife agreed with me. In fact we were just getting ready for the wedding about this time. But keep monthly expenses low was my motto.

I started to get frivolous and have some fun. I had no bills besides some basics.

I continued on that path and only got more dedicated to a debt free life. If I couldn’t pay for it, I didn’t buy it.

I was told over and over and over by people smarter than me I made huge errors along the way. I’d have so much more money right now if I had mortgages and car payments but had my money in the markets.

Maybe that was true. Maybe it’s still true. My response every time was what happens if disaster strikes. If I did it their way, I’ve got big bills, and money in the markets...dwindling. Can’t take that money out. Once it’s out you lock in the loss I’d say. And Id need loot to pay my big bills if I lived larger.

For certain I hate seeing what’s happening. But I’m so glad I did it the way I did it. As I watch this madness unfold, especially as a small business owner, I’m terrified. But I have a certain sense of calm knowing that I set up in this fashion.

I’ve read about consultants being lined up to review layoffs etc. I’m going in tomorrow and cutting my salary by half. Best thing I can do is keep my business solid. I’ve already had a great contract postponed because of a lack of product shipping out of China. If I keep all my resources and become better and more capable than my competition, it creates a great advantage/opportunity for me.

In the past, someone that is now banned, sent me a pm saying that he really liked me and my posts. But that I could come off as bragging at times. It’s never my intention and certainly not now. As most people here know, I’m just extremely open. For better and for worse. Moving on...

And it’s the investment thread and I’m making the point that I do feel vindicated in my strategy over the years. I’ve seen tons of very successful people fail because when the time came, they lost a lot of money and had big bills to boot.

People advocate for “free money” in those “should I finance my Rolex for 0%” interest threads. I would always say no. It’s not free. And it’s still a bill. Pay for it or don’t buy it. Sure they could be earning 6 or 7 perfect in the markets with that money. But when this type of scenario unfolding happens, the wins are erased and they are left with bills to pay for what is ultimately an unnecessary luxury item that is also likely losing value.

Debt free in my opinion. It’s the only way. And maybe there is a balance for most. I realize I’m on the extreme end. But for certain there is a clear advantage to keeping low monthly payments and living below your means until you get to a point of little to no debt.

Just some food for thought.

Similar situation myself... The bank wanted to give me a much higher loan back in 2005, but I stuck to buying a house for much less, then a few years later after the recession I refinanced at lower rate and shorter term, and now in a couple years I will have my mortgage paid off. That will feel good.

I did sell all my stock though, and I'm now I'm not stressing about it dropping. I should clarify, that was fun money/learning account (that over the years has really added up nicely if I think about it) but I held it for a long time since 2006ish, and 2019 in particular was a stellar gain. Long term will be my plan again when I buy back in when the dust settles, unless I use some of the stock to put a down payment on a second home, which I have been pondering lately... by the beach! I have been renting for the past 10 months to see how I like living on the coast...Duh, I love it, ha ha.

My retirement is still handled by a professional and I trust he knows what he is doing more than myself.

[superdog]

Thanks for sharing. It’s a good place to be in these uncertain times.

[beshannon]

Will need to see how this opens with things being limit down, going to be a strange day tomorrow

[bryan13]

Futures halted. 10 year yields below 0.5%

[razzz]

gold is at 1700 at least

[scarlet knight]

I recently bought a little EDV and GLD. They may be up tomorrow.

But tomorrow should start as a bloodbath for stocks and oil.

It’s starting to feel a little 1929ish.

[Jona]

As I got older I told my financial guy to get me into a zero to low risk position. He did that and now retired I have guaranteed $ coming every month. Sure the economy can hurt living expenses and I'd rather not have a downturn, but I worked hard to be debt free and in decent shape financially. I still have some money for hobbies, but I've dialed back the big ticket items.

[locutus49]

I am also debt free and only buy things with cash. It is not bragging, just our personal investment strategy and one that happens to be unusual in this day and age.

Originally Posted by superdog

The last thread of this kind was more on investing rather than just stocks. So please forgive me if I digress.

For years I have been advocating a debt free life. Imho, pay off everything before you starting spending on fun things.

My entire adult life I looked to set myself up debt free. My first condo bought in 2003 I was told by the bank I had been preapproved for 300k. I did the math and that just didn’t work. I could not have paid my bills.

I told my real estate agent to show me less than 200k. First place shows me is 220k. He tells me I negotiate lower. I explained that if he showed me a place over again, I’d find a new agent.

I bought a place for 180k. I lived there a decade and rabidly paid it down. My buddies were all living it up large and spending. Big houses, pools, boob jobs for the wives. Nothing fancy for me during those times.

Then I sold my side hustle business. Paid off everything, bought a small townhouse in cash and put the rest in savings. But at the time I had people suggesting I should have bought a big beautiful home and simply had a mortgage. At the time my day job was growing so things were good. My wife agreed with me. In fact we were just getting ready for the wedding about this time. But keep monthly expenses low was my motto.

I started to get frivolous and have some fun. I had no bills besides some basics.

I continued on that path and only got more dedicated to a debt free life. If I couldn’t pay for it, I didn’t buy it.

I was told over and over and over by people smarter than me I made huge errors along the way. I’d have so much more money right now if I had mortgages and car payments but had my money in the markets.

Maybe that was true. Maybe it’s still true. My response every time was what happens if disaster strikes. If I did it their way, I’ve got big bills, and money in the markets...dwindling. Can’t take that money out. Once it’s out you lock in the loss I’d say. And Id need loot to pay my big bills if I lived larger.

For certain I hate seeing what’s happening. But I’m so glad I did it the way I did it. As I watch this madness unfold, especially as a small business owner, I’m terrified. But I have a certain sense of calm knowing that I set up in this fashion.

I’ve read about consultants being lined up to review layoffs etc. I’m going in tomorrow and cutting my salary by half. Best thing I can do is keep my business solid. I’ve already had a great contract postponed because of a lack of product shipping out of China. If I keep all my resources and become better and more capable than my competition, it creates a great advantage/opportunity for me.

In the past, someone that is now banned, sent me a pm saying that he really liked me and my posts. But that I could come off as bragging at times. It’s never my intention and certainly not now. As most people here know, I’m just extremely open. For better and for worse. Moving on...

And it’s the investment thread and I’m making the point that I do feel vindicated in my strategy over the years. I’ve seen tons of very successful people fail because when the time came, they lost a lot of money and had big bills to boot.

People advocate for “free money” in those “should I finance my Rolex for 0%” interest threads. I would always say no. It’s not free. And it’s still a bill. Pay for it or don’t buy it. Sure they could be earning 6 or 7 perfect in the markets with that money. But when this type of scenario unfolding happens, the wins are erased and they are left with bills to pay for what is ultimately an unnecessary luxury item that is also likely losing value.

Debt free in my opinion. It’s the only way. And maybe there is a balance for most. I realize I’m on the extreme end. But for certain there is a clear advantage to keeping low monthly payments and living below your means until you get to a point of little to no debt.

Just some food for thought.

[razzz]

Originally Posted by scarlet knight

I recently bought a little EDV and GLD. They may be up tomorrow.

But tomorrow should start as a bloodbath for stocks and oil.

It’s starting to feel a little 1929ish.

I feel like the circuit breaker just causes more and more sell orders to pile up because investors are scared of getting stuck in a position.

There was a soybeans contract that kept hitting the breaker for like like 4 days in a row, haha.

In other news, Visa is down 25% from its high, an ~30% multiple contraction.

[rolexpatek363]

Originally Posted by superdog

Debt free in my opinion. It’s the only way. And maybe there is a balance for most. I realize I’m on the extreme end. But for certain there is a clear advantage to keeping low monthly payments and living below your means until you get to a point of little to no debt.

I completely agree with your post, although I did have some money invested in the markets, I liquidated my portfolio 10 days ago and won't be going back in any time soon.

(As an aside, and not aimed at you) fewer than 10% of day traders make any money at all from it, and the remainder lose money.

[beshannon]

Futures limit down so we can only wait to see how trading goes once the market opens

10-year Treasury yield hits new all-time low of 0.318% as flight to bonds resumes

[smohr33]

There’s a chance that today will be the biggest single day wipe out of wealth in the history of the markets. Grab your popcorn.

[beshannon]

Originally Posted by smohr33

There’s a chance that today will be the biggest single day wipe out of wealth in the history of the markets. Grab your popcorn.

https://www.cnbc.com/2020/03/09/sp-5...s-kick-in.html

The rules, which apply to regular trading hours only, are as follows:

Level 1: If the S&P 500 drops 7%, trading will pause for 15 minutes. (This would occur today if the S&P falls 208 points).

Level 2: If the S&P 500 declines 13%, trading will again pause for 15 minutes if the drop occurs on or before 3:25 p.m. ET. There will be no halt if the drop happens after that. (This would occur today if the S&P falls 386 points).

Level 3: If the S&P 500 falls 20%, trading would halt for the remainder of the day. (This would occur if the S&P falls 594 points).

Like I said last week, that bad close on Friday is coming back to haunt us.

[pickettt]

Originally Posted by beshannon

https://www.cnbc.com/2020/03/09/sp-5...s-kick-in.html

The rules, which apply to regular trading hours only, are as follows:

Level 1: If the S&P 500 drops 7%, trading will pause for 15 minutes. (This would occur today if the S&P falls 208 points).

Level 2: If the S&P 500 declines 13%, trading will again pause for 15 minutes if the drop occurs on or before 3:25 p.m. ET. There will be no halt if the drop happens after that. (This would occur today if the S&P falls 386 points).

Level 3: If the S&P 500 falls 20%, trading would halt for the remainder of the day. (This would occur if the S&P falls 594 points).

Like I said last week, that bad close on Friday is coming back to haunt us.

Well, there's always Tuesday.

[RidingDonkeys]

Originally Posted by smohr33

There’s a chance that today will be the biggest single day wipe out of wealth in the history of the markets. Grab your popcorn.

Agreed. I think today will be dismal. I'll be traveling most of the day, so I'll be mostly watching from the sidelines.

Sent from the voices in my head and transcribed by their drinking buddy.

[Letsgodiving]

Originally Posted by beshannon

https://www.cnbc.com/2020/03/09/sp-5...s-kick-in.html

The rules, which apply to regular trading hours only, are as follows:

Level 1: If the S&P 500 drops 7%, trading will pause for 15 minutes. (This would occur today if the S&P falls 208 points).

Level 2: If the S&P 500 declines 13%, trading will again pause for 15 minutes if the drop occurs on or before 3:25 p.m. ET. There will be no halt if the drop happens after that. (This would occur today if the S&P falls 386 points).

Level 3: If the S&P 500 falls 20%, trading would halt for the remainder of the day. (This would occur if the S&P falls 594 points).

Like I said last week, that bad close on Friday is coming back to haunt us.

Looks like we may trip the level 1 circuit breaker at the opening. Hopefully level 2 & 3 won't come into play. I'm having 2008 flashbacks.

[SMD]

It will be bad, but until banks are collapsing, IMO, this doesn’t compare.

[Letsgodiving]

Originally Posted by SMD

It will be bad, but until banks are collapsing, IMO, this doesn’t compare.

I agree, I was referring to the circuit breakers being triggered. Brings back bad memories.

[austinp]

Been listening to talking heads talk about a generational buying opportunity. They just don't know when.

Sent from my SM-G935P using Tapatalk

[beshannon]

Originally Posted by austinp

Been listening to talking heads talk about a generational buying opportunity. They just don't know when.

Sent from my SM-G935P using Tapatalk

Agreed, I am just going to sit back and try not to stress

I was averaging down last week but at this point I will hold the rest of my cash

[037]

Originally Posted by beshannon

Agreed, I am just going to sit back and try not to stress

I was averaging down last week but at this point I will hold the rest of my cash

Indeed. Trying to pick a bottom is a slippery slope.

Oil pun unintentional.

[RidingDonkeys]

Breaker tripped.

Sent from the voices in my head and transcribed by their drinking buddy.

[beshannon]

Originally Posted by pickettt

Well, there's always Tuesday.

In 2021 maybe