Posted on 05/14/2020 12:52:46 PM PDT by MeneMeneTekelUpharsin
The Dow Jones Industrial Average Thursday midday was trading firmly higher, reversing a sharp drop that served as a gut-check to bullish investors amid the COVID-19 pandemic. The Dow DJIA, 1.46% was up 308 points, or 1.3%, at 23,562, following a skid that saw it lose as many as 458 points at its intraday nadir at 22,789.62. Gains were being driven by an advance in American Express Co. AXP, +7.42% and UnitedHealth Group Inc. UNH, +4.47%, which were helping to lead the charge. The S&P 500 index SPX, 0.99% was up 0.8% at 2,843, powered by a gain in the financials sector XLF, +2.54% and a rally in the energy sector XLE, +0.56%. The technology laden Nasdaq Composite Index COMP, 0.74% was trading up 0.4% , or 37 points, at 8,900--well off its lows at 8,705.25.
(Excerpt) Read more at marketwatch.com ...
Yes - I put some $$$ in midday, and took a short profit before the close. What just happened ?
Trading has been completely sideways for over a month now, running in a channel between 23,000 and 24,000 (Dow). This didn’t break that trend.
It’s me.....I did it.
I resumed Amazon online ordering, after a hiatus, early this morning.
Yes - I put some $$$ in midday, and took a short profit before the close. What just happened ?
xxxxxxxxxxxxxxxxxxxxxxx
trading at the highs.
looks like you might have left money on the table??
good luck & good trading
The market matches the world’s collective insanity.
I took the initial hit from February. I’ve recovered a bit, is it time to reduce exposure? I’m nearing retirement age.
Someone REALLY big in the market moving it around. No real reason. It takes billions to move the market like it moved today. Not for us to know, I guess.
dead cat bounce.
dead cat bounce.
Was that two bounces?
You may want to take a look at this strategy. How long b4 retirement? Months? Years? The Bogleheads, I have found, are the single greatest financial planning group that exists. I’ve been following them for about 4 years, and there isn’t a question that comes up that someone has had experience with.
https://www.bogleheads.org/wiki/Asset_allocation
I think lots of people think that the only thing wrong is the Chicom virus, once we get through that the biggie is going to be the short term pain of economically disentangling with China, but long term the markets don’t see disaster.
Never ever get in the way of the FED. When they want to move it...they can move it.
Oil was a recent example.
That’s a relief.
LOL!!
;-)
I was anticipating going at the end of the year. I may drag it out a little due to current conditions.
Thanks for the info.
Gains were being driven by an advance in American Express Co. AXP, +7.42% and UnitedHealth Group Inc. UNH, +4.47%, which were helping to lead the charge.
...
They represent the sectors that suffered while tech stocks outperformed them the past few weeks.
One strategy that you could do now is allocate all your 401K/IRA contributions between now and retirement to cash accounts. No matter what your allocation, it is simply wise planning to have 6 months to a year in cash for emergencies.
As to the allocation percentages, one’s emotional ability to handle market selloffs is also key.
If you handled the March crash ok without panicking and cashing out, then you should be able to handle a higher equity position than otherwise.
I didn’t sell, but I have to admit there were a few days there in late March when I woke up in the night worrying. It has been YEARS since I’ve had that happen to me.
“The Bogleheads, I have found, are the single greatest financial planning group that exists.”
That’s where we go, too. Have not been disappointed once.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.