Dow down 850...everything looking bad.

[stevej37]

uh-oh...bad start to the new year.

[cstreit]

Its above 30k. I'm not surprised at some profit taking and people worried about the new COVID variant. Have fundamentals changed?

I just don't see how this indicates Doom. Did you spend Xmas with Tabs?

[Por_sha911]

Actually just a reasonable correction.
The market sees NYC and other places shutting down: bad.
No one has died from the Covid shots: good.
We have a new President: no comment.

Depending on what happens politically and if the Covid shots actually work, things could get a lot better or a lot worse.

My prediction: buckle your seat belt because it is going to be roller coaster ride this year.

[stevej37]

^^^ cstreit. No..lol
I just didn't want to post to the 'Dow up 450' thread.

Calling Tabs....

[Por_sha911]

Originally Posted by cstreit

Did you spend Xmas with Tabs?

LOL. What makes you say that?

[RWebb]

things are overly speculative; P/E's are about 25-30% above historical norms

my view is that was time to cut back a little on my way, way, way over-allocation of tech

which I did, and I now have only a way, way over-allocation of tech

It is still true that two sectors are reshaping the world - tech and healthcare.

[996AE]

Profit taking 15 months until tax bill due although I pay quarterly and adjust as needed

But you must ask;

With BKs, Federal, State, County and City debts., grossly unfunded pensions and healthcare, high unemployment and higher taxes and more regulation promised by our new fearless, sorry clueless Joe have we reached greed in the market.

P/E rations highest since 2000 and a reckoning will come. Is it 10% or more.

Buckle up No Clue is in charge now

[stevej37]

Yearly statements coming in fast.
2020 was a great year.

[Tidybuoy]

Originally Posted by stevej37

It was good while it lasted!

(I'll try to fix it for you SOL)

Originally Posted by stevej37

I hope no-one went out and bought a new boat!

Sometimes a down market is good. I am only in the market thru 401k and IRA so I am buying every month. When the market is down, I am buying larger quantity of shares. I won't be selling for many years so down is fine with me.

[stevej37]

^^^ That is a great point. When the market is down..buy..buy..buy.
That is when the money is made.

[Bill Douglas]

Things are still good, really good.

Just not really really good. Or really really really good like we were hoping.

[stevej37]

expecting a rebound tomorrow....

[widebody911]

The looming tax hike isn't going to help matters any

https://www.nytimes.com/2020/10/31/opinion/republicans-biden-taxes.html

[Noah930]

Sorry all. Last week I dropped off a chunk of change into my kids' college funds. I'm great at market timing. Everytime I get in, the market goes down.

[Bill Douglas]

Ah... so that's what triggered it.

[stevej37]

Dow down 660...damn..

[sammyg2]

Who do these kids think they are? Wall street should be the only ones allowed to play games with the market!!!!

If wall street decides to fight back and teach the basement investors a lesson it could get ugly.
Depending on the tomorrow open, I'm ready to do a financial "crazy Ivan" and liquidate everything.
Prolly won't but still poised.

I already made minor some moves, verified range to target with one ping only.

[stevej37]

^^^ One great movie. SC was born for that part.

[speeder]

Originally Posted by sammyg2

Who do these kids think they are? Wall street should be the only ones allowed to play games with the market!!!!

If wall street decides to fight back and teach the basement investors a lesson it could get ugly.
>

How would Wall Street do such a thing? Fight back without shooting themselves in the foot?

[biosurfer1]

Originally Posted by speeder

How would Wall Street do such a thing? Fight back without shooting themselves in the foot?

Not sure, but I do believe a bunch of amateur investors with (as an aggregate) a ton of money definitely hit the big firms where it hurt, and it's not like those big firms are going to lay down and die and likely have the money to fight back hard.

It's going to be a very interesting fallout, and one I'm glad to be watching from the sidelines. Just boring dividend growth stocks for me!