Looks Like Another Bloodbath

[njpilot 671]

at Wall St again today.

 

Down almost $900 2 min in. 

 

Hope we don't see people jumping out windows again.

 

Afraid to even look at my investments

 

Hold on tight.

[robot_hell 72]

I'm just hoping this is the September slump coming a bit early.

[mipafox 438]

.

 

[mustang69 505]

I stop looking at the drop and start looking for buying opportunities. 

[1LtCAP 4,263]

not to sound like a dick......but wall street dropping is long overdue. and should have been expected//////

[Shawnmoore81 623]

It rebounded a bit but still down....

[ChrisJM981 924]

Made an 800 point recovery as of right now. Still down about 200 points.

[njJoniGuy 2,131]

This is just the warmup for the Fall Adventure on Wall Street.

 

Nice job, Federal Reserve! Your hundred year reign over our economy has just been so successful for America, hasn't it?

[Teky0101 6]

When the stock drops this low is it time to invest?

[ClangClang 14]

There is NO such thing as timing the market.  EIGHTY (yes 80) percent of professional traders who do this day in, day out, still fail to beat the market on behalf of their clients (once you consider fees).

 

Time IN the market is the most important thing.  There is not a single 30 year period since the creation of the stock market (1800's) that the market overall has not gained 7%.  Smart investing is buying a selection of brorad index funds and then not looking at it.  Maybe rebalance once/twice per year as your stock/bond allocation changes.

[Shawnmoore81 623]

Oil is down. That's a good investment. I'm getting into medical marijuana. I think it'll be the next big tobacco

[GRIZ 3,369]

Oil is down. That's a good investment. I'm getting into medical marijuana. I think it'll be the next big tobacco

You need to wait until marijuana becomes legal under federal law. Marijuana stores can't take credit cards as that would be an interstate transaction in most cases. They can't use banks as banks are subject to federally regulation.

 

The stock market will not get involved as long as its illegal federally. Buying shares in the marijuana business would be the same as bankrolling a load of coke from Colombia under current law.

[MidwestPX 172]

When the stock drops this low is it time to invest?

Don't try to catch a falling knife.

[maintenanceguy 510]

There is NO such thing as timing the market.  EIGHTY (yes 80) percent of professional traders who do this day in, day out, still fail to beat the market on behalf of their clients (once you consider fees).

 

Time IN the market is the most important thing.  There is not a single 30 year period since the creation of the stock market (1800's) that the market overall has not gained 7%.  Smart investing is buying a selection of brorad index funds and then not looking at it.  Maybe rebalance once/twice per year as your stock/bond allocation changes.

^^ This... with one philosophical difference.

 

I buy quality companies that have years of slow steady growth with sales that are increasing every year, and who have low debt.  I have a few other criteria that I like but my philosophy is to buy enduring quality and hold on to it.  My investing is a tiny bit more risky than index funds but I'm also getting better returns.  A percent or two a year adds up over a lifetime.  The biggest problem with my strategy is that it's really hard to diversify when you're really picky.

[Shawnmoore81 623]

You need to wait until marijuana becomes legal under federal law. Marijuana stores can't take credit cards as that would be an interstate transaction in most cases. They can't use banks as banks are subject to federally regulation.

 

The stock market will not get involved as long as its illegal federally. Buying shares in the marijuana business would be the same as bankrolling a load of coke from Colombia under current law.

It's legal for medical purposes in alot of states.

[WhiskeyTangoFoxtrot 358]

Ammo. Buy it cheap and stack it deep!

[Howard 538]

.... and the battle between fear and greed continues, stay tuned for 9:30am tomorrow.

[njJoniGuy 2,131]

And the bleeding continued Monday, from an arterial spurt of 5.17% (1158 pts) on the Chinese Hang Seng to a femoral artery nick of only 3.57% (588 pts at the close after an 1100 pt dump at the opening) on the Dow.

 

More collapse as the correction continues overnight and tomorrow, I predict.

 

Remember, money can't buy love, but ammo (and a means of delivering it) can get you just about anything else.

[John Boy 6]

Don't try to catch a falling knife.

Learned that expression years ago too and got a bloody hand once or twice.  

[GRIZ 3,369]

It's legal for medical purposes in alot of states.

True, but banks and credit cards are federally regulated. It is illegal for them to handle money that was illegally obtained. Marijuana is illegal under federal law so they won't go near marijuana money. The stock market does the same.

 

Makes no difference whats legal in the state. NJ was going to grow its medical marijuana at Rutgers agricultural facility. They found out they couldn't because part of it is funded with federal money. Can't have any federally illegal activity if federal money and/or regulation is involved.

[mipafox 438]

I had three people in this thread try to sell me weed.

 

 

 

 

 

 

 

 

 

[WhiskeyTangoFoxtrot 358]

I heard about a great housing investment. Only $800 upfront and $500 per month thereafter.

[Zeke 5,504]

I heard about a great housing investment. Only $800 upfront and $500 per month thereafter.

you gotta hot cot with like five guys, um, but it will pay off

[Luke_WO 11]

I heard about a great housing investment. Only $800 upfront and $500 per month thereafter.

 

[PD2K 115]

Everyone with a pension plan should be worried.

[Howard 538]

Everyone with a pension plan should be worried.

Why?  Markets go up and down and a managed pension fund should be diversified and able to weather the ups and downs of the market.  While the market is down right now, it is up a good bit from where it was two years ago.  Relax.

[robot_hell 72]

Pension? What's that?? Never heard of it before!

[Shawnmoore81 623]

Took another hit today

[DirtyDigz 1,812]

'Tuesday's reversal in the Dow and the S&P 500 -- from up nearly 3% to 1.3% lower - marks the biggest reversal to the downside since October 2008.'

 

'The S&P 500 hasn't had three consecutive

closes at least 4 standard deviations below its 50-DMA since 5/15/40. Happened today. '

[Kevin125 4,772]

Why? Markets go up and down and a managed pension fund should be diversified and able to weather the ups and downs of the market. While the market is down right now, it is up a good bit from where it was two years ago. Relax.

It's also possible funds made money since this started.