Ugly Day
Unfortunately I think it's going to get a lot worse.


S&P 500 4,594.08 -82.95 (-1.77%)

NASDAQ Composite 14,584.62 -351.27 (-2.35%)

Bad news travels like wildfire.

It's been a bad year, Lol.

My 401K was up 23% last year. So far this year I'm down about 3-4%. The market is crazy and will drop several hundred points and then come right back up on a day or so. Just gotta let it ride!

Only if you are retiring, outside of that it's Jan. Always drops some. I always try to have a large cash position just for Jan. Only year my plan backfired a little was trumps election year

Every time Biden speaks, it bleeds. He’s only going to be worse with mid terms coming later this year

Set it and forget it. In for the long haul.

Same here. In fact on the 3rd, my combined portfolio was at an all time high. Rather than ride though I took profits (and some losses) on all my current trades. And since I have been way heavy in big tech since the early days of covid, I also sold much of my big tech/QQQ stuff over the last two weeks to build cash again. More than usual, so for me that hit is not as bad as it could have been today. The new cash is going back into mostly S&P500 VOO and Total Stock Market VTI funds during these dips like today and will ride from there. I don't think I can beat that this year.

I’m playing the pinks and they’re doing ok today.

Yeah the little oil company is chugging right along!

I'm sitting at 23% for the last 12 months. Ride the waves.

Thank you Joe

Nasdaq just finished up

All hail Petroteq. Bunch of my positions sold automatically last week so same story of lessened losses and sheltering in cash. DWAC was up again, lol.

The sky is falling! Not, DJIA still 5000 points higher than a year ago.

Wow little oil company up another 15% today! Looking Sweet

😎

I have actually had good years for the last 3yrs. Like I stated earlier I was up 23% last year and was up 30% the two previous years. When Covid hit in 2020 I took a big loss (about 70K) in a week or so time period. I left my funds where they were and I made it all back and more. I am not big on the market or keeping up with everything and making moves all the time. I check the funds that my 401K (Prudential) offers and base my selections off the 3yr and 5yr returns for them. I have been doing well so have not made any changes in a while.

Growth companies that have yet to show a profit have been overvalued for quite a while IMO.......investors start to pay attention when money becomes more expensive for these types of companies.....dividend paying companies with strong balance sheets and cash flow are having a good year and will continue to IMO.....

For some of us over 65 time isn't on my side, let it ride doesn't work.

Watch the movie Too Big To Fail. A lot on this forum are in big cities and bank at one of the five or so biggest banks. The biggest banks have $TRILLIONS$ of exposure in derivatives. Think about it. If you were their derivatives trader that would be like you being at a poker table and you cannot lose, at least anything but your job.

I wouldn't have fifteen cents in anything but a small town highly rated bank. The biggest banks have back room traders trading derivatives. Forget FDIC. The last time I looked they didn't have enough funding to put out a burning match on wet concrete compared to just Chase bank's derivatives risk, much less the next five or so.

Brag all you want about your returns. However, if any of you want to park some cash somewhere besides one of the banks most likely to lose your cash check out Treasury Direct. If they go down then we really are down to beans and bullets. At least there you have the dry powder for a potential deal.

I don't remember how Warren Buffet put it. I'll just paraphrase. When there is blood in the streets mop it up. Your cash earning zip will be ready to mop up some deals.

EDIT: Treasury Direct has about the worst website I've ever used. I cannot believe how bad it is. I guess I'll just chalk it up to being a federal agency. However, that is where you can park cash in Treasury Bills. For myself, forget anything past a 30 day commitment there. Only an idiot would buy a US Treasury Bond in this interest changing environment.

Would you "loan" your money to the liberals for any term over a month?

Yes I agree with you on this. If your close to retirement age you definitely want to have it in something more guaranteed. I know nothing is guaranteed (except death & taxes) but something less volatile with market change.

Is the panic over?

Inflation bonds are paying 7.12% right now and compound. Not a bad place to store small amounts of cash over time if your wanting to park it someplace safe. The bad is you can only buy $10,000 a year through treasury direct and you can't buy them in a pre tax account. You can sell anytime with only like a three months interest penalty which would be no big deal. My original emergency fund is still in paper I bonds and earning double digit interest since the older I bonds included a fixed interest.

Ride it like it is a roller coaster.