Posted on 09/03/2024 2:22:13 PM PDT by DallasBiff
U.S. stocks tumbled to their worst day since an early August sell-off after another report raised worries about the economy's health.
(Excerpt) Read more at abcnews.go.com ...
I know it was all profit taking.
“I know it was all profit taking.”
***********
A nice run up in the S&P in August followed by a day of heavy profit taking. Nicely executed by the big boys and their algos.
Helps us more in October.
Be careful in September and October. And the other months too. ;)
Real reason: all the institutional traders are back from vacation. In August, it was all subordinates holding the fort, trading lightly. Now, we’re going to see what the big boys think.
A day in the market means a thousand things and nothing at the same time. Timing the market is a fool’s game, time IN the market is the successful investor’s game.
That is a typical trope of reporters who don’t know what is causing the market to go up or down: up, it’s bargain hunting, down, it’s profit-taking.
I was nibbling, not selling.
I cut loose about 25% of my portfolio last month during the spike. Troubled waters ahead. Happy to have the 5% interest that most places are offering until things settle down a little.
After months of exclaiming how great the economy is and what an excellent job the Democrats have done bringing our nation back from the “brink of disaster” during Trump’s Presidency, the media is suddenly concerned about the economy.
I’m wondering what they are up to and what they have planned between now and November. Another round of stimulus payments for the voters? Another bail-out for one business sector or another?
The leftist media doesn’t change an economic narrative without instructions, talking points, a reason, and a plan.
“Timing the market is a fool’s game, time IN the market is the successful investor’s game.”
************
Yes, time IN is important but even more important is the price you pay. Its really the only thing you can control. It takes an incredible amount of patience and discipline.
Yep. A much further drop would be helpful for those with money on the side to invest for the long term.
Bob Brinker used to call a hefty correction a visit from the “gift horse”.
Good for you.
Buffett is also carrying lots of cash right now.
If the financial reporters and talking heads were really knowledgeable they would be sitting on their yachts right now instead of babbling. They wouldn’t need the job.
Bob just passed two weeks ago.
Excellent post.
One thing they desperately want is help from the Fed.
If I have to guess, they're concerned that Harris has a 50% chance of winning the election.
Sorry to hear that.
Listened to him on radio long ago. I was also a markettimer subscriber for a short period. But I quickly saw that it was a ripoff as he rarely changed his portfolio or had buy/sell signals so I quit sending him money. :-)
My apologies again to investors on FR. I filter everything through politics as it goes into my brain.
(I want Americans to suffer terribly and then vote for Trump or stay home.)
It’s just one day like the bad 3 days last month, then they’ll be gushing and tingling with excitement on the way to the big Harris-Walz victory in November.
Heard an analyst interviewed by radio talker Steve Gruber who was trying to get the guy to say the economy will fall soon and Harris will lose votes over it——he firmly said the economy is basically fine and the market will go up again. BAD.
If most Americans feel good about the economy they will vote Dem. If bad, they may stay home or watch Trump voters come out to the polls.
Our country is at stake. A few bucks made won’t matter, people.
We just had a sky is falling less than a month ago. It lasted a day. Stock market goes up and down day to day since its beginning.
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.