Stock Market - Coronavirus

[jet496]

Anybody else paying attention to the market. I'm a buy & hold guy, and usually ride out the storms, but this looks bad.

A friend of mine was telling me all week to turn my stocks to cash because he knows firsthand what's going on in Asia where his company does business. He's a sharp dude & big executive for a Biotech company so I paid attention.

I finally did it this morning before the biggest daily loss in history (I was watching the market take $20k of my money a day this week)

Feels good preserving what I have even though I did take a 10% loss but it's better than the alternative.

 

[Outdrive1]

I think the stock market is a house of cards propped up on speculation. I really don’t think things are as good as Fox news would have us believe. That being said all it needs is an excuse for a huge correction. Today was THE biggest single day loss in history. In the mean time we’re being told we are safe, “Caronavirus.” is under control, and more people die from the flu. Nothing to see basically. Pence has it under control and no one from the CDC is allowed to make any public statements on it. I mean what’s there worry about?


I say get ready for the ride. Hold onto your cash.


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[jet496]

It's not necessarily the fear of the virus as it is the fact that China has shut down all it's plants (I didn't know that until yesterday) and almost everything assembled nowadays, comes from there. There's going to be some seriously bad quarterly earnings reports when they come out which will drive it even lower.

I agree that it's a house of cards anyway. Gambling at a very high level.

 

[cofooter]

This too shall pass. Earnings and the global economy will take a hit for the next few qtrs, but it will be back. I deal with China every day, most companies are projecting to be back at full head count/capacity by end of March even with all the current quarantines and restrictions. This wont be a long term hit. Ride it out and buy now that its cheap.

 

[MSum661]

This too shall pass. Earnings and the global economy will take a hit for the next few qtrs, but it will be back. I deal with China every day, most companies are projecting to be back at full head count/capacity by end of March even with all the current quarantines and restrictions. This wont be a long term hit. Ride it out and buy now that its cheap.

And stay away from risky trash.
No reason to buy crap stocks when the best quality are getting cheaper.
I'm working in and out only 10% of my brokerage account as needed but will go back in heavy and deep if the buy signals, technical's, etc., say go.
Now is not the time....need absolute clarity first and you can't turn your back for even 1 day.
Treat it like a business, think and pay attention.
jmo.

 

[That Guy]

This too shall pass. Earnings and the global economy will take a hit for the next few qtrs, but it will be back. I deal with China every day, most companies are projecting to be back at full head count/capacity by end of March even with all the current quarantines and restrictions. This wont be a long term hit. Ride it out and buy now that its cheap.

Yup...

 

[steak&lobster]

What do you say ? @shintoooo LoL

 

[DILLIGAF]

Talk % people and you will see it isn't as bad as you are thinking.

Another 10% drop and I am buying big as I can

 

[colenighthawk]

The end is coming soon. Start selling your boats, houses what ever you got. Get your cash out of everything, your going to need it soon.

 

[shintoooo]

What do you say ? @shintoooo LoL

I know Nuthin!!

 

[brgrcru]

its over we are all going to die.

 

[zhandfull]

Talk % people and you will see it isn't as bad as you are thinking.

Another 10% drop and I am buying big as I can

Another 10% drop and I will be putting some cash to work but will not be going all In at only a 20% drop. I will be saving some for a 30, 40, 50 and possibly 60% drop in the markets.

 

[DILLIGAF]

Another 10% drop and I will be putting some cash to work but will not be going all In at only a 20% drop. I will be saving some for a 30, 40, 50 and possibly 60% drop in the markets.

It helps to have a strategy and it seems like you do.

 

[colenighthawk]

Another 10% drop and I will be putting some cash to work but will not be going all In at only a 20% drop. I will be saving some for a 30, 40, 50 and possibly 60% drop in the markets.

I'm in like Flyn at the Holiday Inn

 

[cole_skier]

I think the stock market is a house of cards propped up on speculation. I really don’t think things are as good as Fox news would have us believe. That being said all it needs is an excuse for a huge correction. Today was THE biggest single day loss in history. In the mean time we’re being told we are safe, “Caronavirus.” is under control, and more people die from the flu. Nothing to see basically. Pence has it under control and no one from the CDC is allowed to make any public statements on it. I mean what’s there worry about?


I say get ready for the ride. Hold onto your cash.


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Not the biggest loss percentage wise.


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[gqchris]

Talk % people and you will see it isn't as bad as you are thinking.

Another 10% drop and I am buying big as I can

Keep us newbies posted sir. I have no idea what to buy, but I want to get in while its low!

 

[jet496]

I bet it goes to 20,000 within a month or two. Time will tell.

 

[DILLIGAF]

Keep us newbies posted sir. I have no idea what to buy, but I want to get in while its low!

I am going to go buy a new toaster

We all want in at the low and all want out on the high......thats the trick but not possible.

Gotta have some kind of plan laid out and see it thru.....easier said than done especially when panic mode sets in

 

[KingofBeers]

It helps to have a strategy and it seems like you do.

This. I understand some people are at the mercy of the custodians of their 401Ks, but if you are in control of your money you need to educate yourself and have a plan for some basic scenarios. Like the global supply chain of everything being disrupted by the bat soup flu.

 

[RodnJen]

This. I understand some people are at the mercy of the custodians of their 401Ks, but if you are in control of your money you need to educate yourself and have a plan for some basic scenarios. Like the global supply chain of everything being disrupted by the bat soup flu.

Nobody is at the mercy of their custodian. Each participant has the ability to invest at their desired risk level. The custodian has a fiduciary responsibility to offer sufficient choices, asset allocation.

 

[Xtrmwakeboarder]

It's not necessarily the fear of the virus as it is the fact that China has shut down all it's plants (I didn't know that until yesterday) and almost everything assembled nowadays, comes from there. There's going to be some seriously bad quarterly earnings reports when they come out which will drive it even lower.

I agree that it's a house of cards anyway. Gambling at a very high level.

They didn’t shut down all of their plants. All our component suppliers are online and running at full steam.

 

[KingofBeers]

Nobody is at the mercy of their custodian. Each participant has the ability to invest at their desired risk level. The custodian has a fiduciary responsibility to offer sufficient choices, asset allocation.

Do you have the ability to pull out of everything and be 100% cash within a 24hr period? I have a 20yr 401(a) and my options with that are extremely limited.

 

[DrunkenSailor]

Wait and see for me. I want to see default rates on corporate debt before I make a decision.

 

[RodnJen]

Do you have the ability to pull out of everything and be 100% cash within a 24hr period? I have a 20yr 401(a) and my options with that are extremely limited.

Not sure what you consider cash, but yes their is a fixed option @ 3.50% and a money market option that is a keystroke away.

 

[relaxalot]

I am wondering what headline will turn the market around? I see this dropping quite a bit more..

 

[TCHB]

 

[GRADS]

Another 1,000 point drop today?

 

[LargeOrangeFont]

Another 1,000 point drop today?

Might be.. still early in the day.

Didn’t you say you were hoping for a crash to buy a place in Tahoe?

 

[DILLIGAF]

The time to buy will be when there is blood in the streets.....lol

 

[2Driver]

I have payments to make on my wife’s new G-wagon and a $60,000 SXS, it has to come back.

It figures, we were right in the middle if upgrading everything from Viking to Wolf.

 

[nameisbond]

Its going to be a bad day. End of the month during a bad week, means margin calls!!!!

I've been out of stocks, except one. I loan my bank money in the form of a term deposit earning 2.65%. Its a credit union, they pay higher interest over regular banks here. My deposits are 100% insured.

 

[DILLIGAF]

Holy shit.....looking at the ticker it is looking like an erratic heart beat.....up down sideways up down down up up down sideways

Crazy

 

[DILLIGAF]

I have payments to make on my wife’s new G-wagon and a $60,000 SXS, it has to come back.

It figures, we were right in the middle if upgrading everything from Viking to Wolf.

You weren't paying out of that account anyhow...lol

 

[GRADS]

Might be.. still early in the day.

Didn’t you say you were hoping for a crash to buy a place in Tahoe?

Yes but unfortunately a crash/correction in the market doesn't necessarily mean a crash in the housing market....yet. And quite frankly I barely even consider this a correction. The market is much closer to where it should be. It's been a little nuts lately.

 

[LargeOrangeFont]

Yes but unfortunately a crash/correction in the market doesn't necessarily mean a crash in the housing market....yet. And quite frankly I barely even consider this a correction. The market is much closer to where it should be. It's been a little nuts lately.

We are 6 months to a year out in this affecting housing costs. If this fades away before summer, it likely won’t change housing costs at all.

Housing prices won’t change until people start loosing their jobs.

As far as the market, it is what it is. There is not really a number it “should be” at. Up or down the market is at what the market will bear. It reacts irrationally based on a variety of factors.

 

[2Driver]

Holy shit.....looking at the ticker it is looking like an erratic heart beat.....up down sideways up down down up up down sideways

Crazy

Ballzy folks are making bank on the swings. LOL Im not one of them.

However, Ill brag a bit and say Im down 3.2% from all time high. Dollar wise it seems nauseating.

 

[Englewood]

Yes but unfortunately a crash/correction in the market doesn't necessarily mean a crash in the housing market....yet. And quite frankly I barely even consider this a correction. The market is much closer to where it should be. It's been a little nuts lately.

Have you seen the 10yr? mortgage rates are super low...The housing market is on fire.

 

[jet496]

Do you have the ability to pull out of everything and be 100% cash within a 24hr period? I have a 20yr 401(a) and my options with that are extremely limited.

Yes. I did it with TD Ameritrade in a half hour (about 75 stocks), including mutual funds. You just turn them to cash or bonds within your IRA or 401K (we have both). As long as the funds stay inside the accounts you can trade anyway you want without tax ramifications.

 

[jet496]

They didn’t shut down all of their plants. All our component suppliers are online and running at full steam.

That's good to know. It's been hard getting good information of what's actually going on inside China. I know a few people who do business there & thei roperations are completely shut down. I can't even get paid by one because they say their corporate is shutdown (not manufacturing). Maybe it depends where you are & what you're doing.

Keep me posted with any other info. I appreciate it.

 

[EmpirE231]

are 15yr mortgages below 2.75 % yet?

I think the impact this week had will really be seen in a few months when quarterly reports are published. Cruise lines, airlines, hospitality, big stadium entertainment etc will be taking a big hit.

 

[crzy2bealive]

I'm trying to refi in the next 2 months! Hopefully the rates stay low.

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[TCHB]

 

[boatpi]

Home mortgage rate, 30 year, 3.2% Costco.

 

[2Driver]

Yes. I did it with TD Ameritrade in a half hour (about 75 stocks), including mutual funds. You just turn them to cash or bonds within your IRA or 401K (we have both). As long as the funds stay inside the accounts you can trade anyway you want without tax ramifications.

bonds arent the safe haven they were, as a matter if fact its more the opposite. The problem is a lot of funds dont offer a market money fund to hide in for awhile.

My kids 529 is stuck in the market, all I can do is place it in the least worst fund and only 2 moves a year.

 

[Xtrmwakeboarder]

That's good to know. It's been hard getting good information of what's actually going on inside China. I know a few people who do business there & thei roperations are completely shut down. I can't even get paid by one because they say their corporate is shutdown (not manufacturing). Maybe it depends where you are & what you're doing.

Keep me posted with any other info. I appreciate it.

The only issue we’ve had thus far is one distributor in Hong Kong slow paying because people weren’t at work during the extended Chinese new year. They are back to work now. I’ll keep you posted.

 

[nameisbond]

I think hospitality will take a major hit. I was going to Vegas in March. But decided to hold off, until the flu season is over. Think a lot of people are like me.

 

[farmo83]

We've been in a bull market for quite some time so a pull back was inevitable, it just needed something to kick start the process. The Sage of Omaha is buying stocks and that's a good indicator for me.

 

[Orange Juice]

Talk % people and you will see it isn't as bad as you are thinking.

Another 10% drop and I am buying big as I can

Never try and catch a falling knife. We still have an election in November.

 

[Orange Juice]

We've been in a bull market for quite some time so a pull back was inevitable, it just needed something to kick start the process. The Sage of Omaha is buying stocks and that's a good indicator for me.

Buffet has accumulated a stock pile of $25 Billion dollars in cash. I’d say your looking at the wrong indicator.

 

[FishSniper]

Dow futures down over 600 right now if that holds tommorow could be another ugly day.