Posted on 09/01/2015 1:07:17 PM PDT by blam
Myles Udland
September 1, 2015
It was an ugly day for the markets, as each of the major US indexes dropped nearly 3% to start September, which is traditionally the weakest month of the year for the stock market.
Oil got slammed on Tuesday, falling 8% with West Texas Intermdiate crude prices falling back near $45 a barrel after a 30% run-up in just 3 days saw WTI erase most all of its August losses.
Stocks started the day deep in the red and the selling pressure hardly relented at all into the closing, sending stocks out on their lows for the second straight Tuesday.
First, the scoreboard:
• Dow: 16,058, -470, (-2.8%)
• S&P 500: 1,913, -58, (-2.9%)
• Nasdaq: 4,636, -140-, (-2.9%)
And now, the top stories on Tuesday:
(snip)
(Excerpt) Read more at businessinsider.com ...
“This is 1928 or 1929 stuff. “
If you ignore the massive margin calls
that are not indicative of stock-holding today,
and the sweeping bank failures/holidays following 1929,
then, yeah. In other words, no.
A few trillion.
Maybe, maybe not. But either way it is a gamble because the market lost all rationality once the Fed took it on as their favorite son. So, go ahead, pick red or black and spin the wheel. :-)
Buy and hold. Speculation is for losers.
The problem is that financial writers don't like to keep things in perspective. They prefer instead to use words like "soaring" and "on fire" when the market moves up. And words like "crushed" and "collapsing" when the market moves down.
That leaves most folks (including me) a bit confused at times.
He who focuses on ANY 3-day period in the crude mkts thoroughly DESERVES his fate...and will meet it shortly in all likelihood.
I don't view it in those terms. I lose no wealth unless I chose to sell at those depressed prices.
Many will sell. Many will buy and gain the rewards by waiting for the recovery.
Those that view it as inflated prices to begin with will see it as restoring to appropriate value as well.
That is probably the best advice for long term investors with a time horizon of 5-10 years...
I am a trader....soooooo....I am mostly short these days..
Just sayin....
I never found way of looking at the market useful. Suppose you bought a rare coin for $1000. I later offer you $1200 for the coin, which you refuse. Later someone offers you $900. Has $300 of your wealth evaporated? Not at all.
All that matters is your specific buying and selling prices. Intervening offers don't matter.
Several caveats to that.
If you're in for the very long term, don't sell. In fact, buy the bargains. And buy them through low-cost mutual funds.
Actually, he’s mostly right....
The fiat currencies have just about ended their run because they met reality and reality does not value things that you can’t eat or at least burn for heat.
This is a global problem that is developing. One day, you will get up in the morning and all the banks where you have your “money” or better said your credits, will be closed or only dispensing X number of USD, and your credit cards will be worthless.
This day is not far off by some opinions and those type of opinions are growing.
Everything is okay, stocks go up n down.
Just buy the Eff’ing dip
https://m.youtube.com/watch?v=0akBdQa55b4
Yeah, keep thing in perspective, agreed. Now, let’s talk at the end of September about the market trend versus the daily gyrations. Sure it’s going to bounce around, but the real concern is that the fundamentals are no longer sound and we are in a market decent.
No. No one lost a dime who didn’t sell.
They have piles of fake money underpinning their holdings. It works out the same as massive margin calls. There isn't much real money underpinning the system.
I would not do that....it's way too early...
They said that in '29, 2000 and 2008 as well.....the end result was a series of sucker rally's...and if you are not nimble with the sell button, you will take a big loss....IMO..
This is what I'm thinking. We are being gamed, and that the market actually reflects real value is the game.
Don't go over there unless you want a good scare.
Some other financial naif I once read said the rate of inflation should be pegged to the DOW. Then the price of everything we bought should be adjusted to reflect that variance. I guess going to the store in these times would be like an auction. Come to think of it, there is a TV commercial that does just that.
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