Investing General Discussion

Frenzied Wombat said:

Must be something crazy today 'cause our traders are freaking saying RT pricing in Bloomberg is lagging.

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Volume is high, but not anything I'd call extreme. This is definitely just one of those random panic days where the market decides to roll back a week of gains.

AAPL is still up like 20% from the day they announced the split.

LachiusTZ said:

Why? Let it crash so we can buy

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Cause I feel bad for all my TSLA homies.

ps.. this is why I preach about using trailing stops.

"6:30 am is here, lets check the market..."


The Market:

Caligula_The_Cat said:

At what point do we eat the loss on Tesla and sell it off?

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Eat what loss? when did you buy it?

China Bat Soup said:

I was planning to dump all my holdings next month to avoid volatility that I think this election will bring... maybe the right time is now though.

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The right time might have been at about 3:59pm yesterday.
Dont sell into fear. This market was overdue for a downturn. What fundamentally has changed since yesterday when it was buy, buy, buy? Nothing. This is profit taking and a breather.

edit: watch the market at 3:51pm and lets see what it does. See if big money decide to buy in or if it pukes. If it pukes even more into the close look for stocks you like and it might be an entry point.

China Bat Soup said:

I'm actually not down much today (less than a percent) because I have little exposure to tech at this point. I like my portfolio at the moment but my concern is that tech is going to continue to slide and drag the rest of the market down with it and investors will be hesitant to buy back in until after the election. In other words, I think the overall market trajectory is downwards between now and Nov 3rd, barring a vaccine receiving FDA approval.

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Questions you need to ask and why I mentioned the market close. Up until about a few hours ago this was not a wholesale puke, mainly tech. Airlines, cruiselines, financials were green. That isnt capitulation. That is profit taking on overheated sectors. We are back where we were like two weeks ago. S&P 500 hitting 3400 on the way up was "holy shit thats awesome". Hitting it on the way down is "capitulation"?

If you think the fundamentals have changed and the market is going to tank for the next six weeks then yes, go to cash. If you have long term investments that you plan to hold for years then selling is just market timing.

I bought NVDA at $350 like 10 weeks ago. It hit $590 yesterday. Am I going to sell because it dropped $50 today? Im still up 45% in 10 weeks.

Fear and greed are two emotions that kill portfolios. I can only speak for me, Im not selling because my investments are long term and I suck at market timing. TSLA is still the equivalent of 2,000 a share at last weeks price. Yes the market puked today, but keep it in the perspective of the last 4 weeks of near parabolic upward movement.

Edit: more perspective. If we have another day tomorrow just like today and AAPL drops another $10 a share, it it will still be about 15% higher than it was the day before the split was announced.

Caligula_The_Cat said:

The day of the stock split

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Oh. That is a rough call.

AMZN has dropped so far it is back where it was.... 6 trading days ago.