The DJ futures has been hovering around -500 for most the night. If we could only be so lucky to have a -500 day...

In the DOW premarket it is at 20627.

The high on Feb 12 was 29551. (29551-20627)/29551 = 30.2% drop

From 15 days ago in this thread:

dow30% (resized).JPG

I guess I would just say take a look at the last 10 years and how it got where it is, then ask yourself how far can it fall? Good luck!

Those of you trying to catch a falling knife, take your time. You'll have plenty of opportunities.

It can’t go below zero

Saw this comparison

IMG_20200313_001933.jpg

What do you think that means?

Ice says Buy Buy Buy!

I shot my buy buy buy wad a couple of days too quick

Hoping for some normality next week !

Tech stocks haven’t come down that much, still above December 2018 levels.

Futures up 1,000 this am. Be careful buying today because the whipsawing is nowhere near done. Determine what stocks you want to buy, and chunk it into positions so that you can average up or down based upon where the market goes. Good luck all!

Still have yet to see where this is going. Probably more down...this cant be the bottom. We dont even know the impact of the shut downs yet.

the real panic has not even set in...

I have ONE more trip to make at cost co today to feel good for a month at home. Can we wait till im done at work today? I had to come in...so stupid.

Agreed. The blood in the streets moment has not yet arrived, IMO.

How much was it down so far this week before today? 14% or so? Multiple 2000 point down days in a week. That sure feels bloody. VIX almost hit 80. It's pretty rare to hit 40.

A recession is going to come. Too much value has been lost around the world, and now panic is escalating. Rates have nowhere to going, there is political turmoil everywhere... well, now all the hipsters can see what a real recession is like.

The recession was going to happen anyways. You can't shut down major industries and put millions of people out of work, even temporarily, and not see a recession. Regardless of the value of equities, real economic activity (the thing equities used to be a proxy for, before the central banks decided to inflate everything forever) is going to crater. Most of us here on pinside are probably working professionals. Imagine all the people juggling part time jobs while their childcare and kids food mostly comes from public schools. Now the schools are closed and people have to choose between caring for their kids or going to work, if they're lucky enough to even still have a job. And then probably 10% of people are going to have medical bills.

Very true. It's only a matter of time until cash flows run out and bankruptcies will skyrocket as companies won't be able to cover their debt obligations. Then, it will only get worse.

Right now, everybody has just been giving back their gains.

It goes like this: Hey, I'm up $20,000.00; Oh shit, I am only up $15K, but I am still green; Damn ! I am only up $10K but I'm still playing with the market's money; What happened? I am only up $5K. but I'm still green; Fuck me! I'm $2000.00 in the red! I should have sold when I had the chance. Oh, well, I'll wait until it comes back and then I will sell. And on and on.

One reason this charts looks as good as it does is because Apple AAPL has not cratered. Yet.

Screen Shot 2020-03-13 at 10.09.57 AM (resized).png

My opinion has changed, but compared to the masses I've turned from a pessimist to an optimist.

Not everybody. I'm 6 figures into the red. I was in cash and bonds, so missed all the gains.

Presidential press conference announced for 3 EST on the Corona Virus. Will the market spike or crater afterwards?

Shit, bet they crater again!

With a silver tongue devil speaking? I would not bet on a spike. Feel free to keep thumbing me down.

Probably announcing he's infected. Or stock markets will close for a couple weeks.

You were in cash and bonds and are down 6 figures? Cash is cash. Bond prices have been going up. How does that cost you 6 figures? I don't understand.

The fed is doing several rounds of QE buying treasuries all day long today. In the good old days those would lead to gains.

Hard assets like gold, guns and pinball feel like a better place to be right now!

I *was* in cash and bonds waiting for a pullback. I started buying in at S&P 3200, then more at 3000, then more at 2800, then more at 2600. The losses are adding up.

Press conference is about declaring a national emergency....supposedly payroll tax cut also.

My guess regarding the conference is a continuation of what we've seen...market spikes up briefly based on hopeful news, then slowly continues back down...

Shorted Disney this morning but it bounced everywhere so I gave up after losing $100. Tried to short RCL but it dropped too fast (seemed an obvious one).

Shorted Expedia a couple hundred more shares at $66.

I see. Trying to pick the bottom and then started the averaging down play. Sounds like it was supposed to be a short term trade that turned into a long term investment

Back in the 90s a friend was subscribing to Louis Navellier's stock newsletter. The market pulled and Louis told his readers to buy. The market pulled back some more; Louis said buy; The market pulled back. some more and Louis said buy buy buy. The market kept pulling back; Louis kept saying BUY!.

After about 7 times of this down side action, Louis came out and said, " If you have any money left, I would be buying such-and-such." Since I was not a subscriber and did not follow Louis's advise, I got a good laugh out of that.

No, I don't do short term plays. it was a "If I'm ever going to retire on what I've accumulated, I'm going to have to get in stocks since bond funds are going to be paying 1% play". I'm trying to put together a portfolio that pays $50k in dividends a year plus hopefully also grows in principal over time. It's about half S&P index and half dividend aristocrats. I'm not done average down yet. Hopefully it stays down for a while. I can put $1-2k a week into it.

should be a bumper sticker or a t shirt

https://financial-competitions.com/

My options account in January +29%
February +158.7%
Total +187.7% at the end of February.

ENHANCED GROWTH DIVISION (Futures and/or options)

Adrian Palmer, DMD + 187.7%

Nick Marino + 125.5%

Minh Le + 64.6%

And this is why you either have to be nimble and do a bunch of trades or buy it and don't look at it. I am doing both. If you don't commit to a strategy (these or others), people will drive themselves nuts.

My poor 401k is down almost 30% in the last few days. I've been putting 26% of my pay in there for a long time now, just to watch it vaporize. It takes soooo long to accumulate and it disappears so quickly.

I have plenty of years left before retirement, but it's nauseating to watch it happen.

I've lost hundreds of thousands this week. But keep in mind...you still own those stocks, bonds, notes, funds etc. They havent vaporized. Their value has simply cratered but if you hold onto them they will...eventually...most likely come back up.

Also...If you have a decent finance guy you're not down nearly to the % that the market is.

Well… DOW has spiked 1,000 points since the press conference started. Up 7% overall for the day. Still doesn't make up for yesterday but the needle is moving in the right direction.

This is not a political statement. The White House speech that is going on is pretty impressive. Seeing all of these industry partners pull together is awesome. Hope that this helps stem the tide. Glad to see the market rallying off of this and love that the US was able to buy oil cheap. Very smart move.

We are getting close for yesterday. Have never seen anything like this. Looks to be closing up 1973.

And the DOW closes almost 2,000 points up. US markets up almost 10% today. Doesn't make up for yesterday, but comes close.

Worry not. It will come back. In 2-3 years.

It’s a start. But a few weeks late.

Now they must continue to let the experts speak and reassure the public.

I hope the time frame is a little shorter than that. But I can wait that long if needed.

We really needed this day to not be a huge drop in the market. Thank goodness people can have a little more peaceful weekend.

It's only a loss on paper unless you 'cash it in'

Still hurts if you think too hard about it though!

Total insanity. This kind of volatility is not good for people with heart problems!

some more big drops next week would not surprise me