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    Originally posted by kork13 View Post

    Well, I was right.... The last 3 orders went through today. What shocked me, however, is that they all executed SIGNIFICANTLY (3.7%, 4.1%, and 6.3%) below my limit prices!!! How desperate are people to sell?!?
    When there is panic selling, you are nearing a bottom. I still think there is a flash crash, quite possibly tomorrow being a Friday, where lots of brokers get the "sell at any cost and get me out" phone calls.
    Never underestimate the power of stupid people in large groups.

    -George Carlin

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      Originally posted by TexasHusker View Post

      When there is panic selling, you are nearing a bottom. I still think there is a flash crash, quite possibly tomorrow being a Friday, where lots of brokers get the "sell at any cost and get me out" phone calls.
      I still disagree with the flash crash theory (though arguably... how would you describe today, 10% down in 1 day?), but I'm with you that their's still more bloodletting to come. I think the panic selling will be approaching a floor over the next few days or maybe weeks.

      I'm putting in a new round of limit orders, ~2.5% below today's closings. But with these new orders, I'm being more conservative... Smaller amounts (total ~$1k at a time), perhaps making new orders as the previous ones execute (or just once a week), and probably sticking to 2-3% below closing values to give myself a pretty good chance of them executing relatively quickly -- I just need a quick blip down to catch a decent buy.
      Last edited by kork13; 03-12-2020, 07:04 PM.
      "Praestantia per minutus" ... "Acta non verba"

      Comment


        Yes who knows. It’s all very scary for so many - not only investments but jobs, potential illness.

        This will pass, but like 9/11, Corona will leave prints on our country. For the next couple of decades, we will all be a little more cautious, and I hope a lot more grateful for the wonderful country we live in, and the many things we have to enjoy and participate in. We’ve got it good.
        Last edited by TexasHusker; 03-12-2020, 07:26 PM.
        Never underestimate the power of stupid people in large groups.

        -George Carlin

        Comment


          next couple decades? Maybe if we got hit with the 2020 version of the black plague. Couple years from now when people are getting the combination corona-flu vaccines, they'd be laughing at how silly we all were for worrying about it like it's the end of the world.

          Comment


            Originally posted by ~bs View Post
            next couple decades? Maybe if we got hit with the 2020 version of the black plague. Couple years from now when people are getting the combination corona-flu vaccines, they'd be laughing at how silly we all were for worrying about it like it's the end of the world.
            I hope you are right.
            Never underestimate the power of stupid people in large groups.

            -George Carlin

            Comment


              Originally posted by TexasHusker View Post

              When there is panic selling, you are nearing a bottom. I still think there is a flash crash, quite possibly tomorrow being a Friday, where lots of brokers get the "sell at any cost and get me out" phone calls.
              Define flash crash?

              Following is applied in one trading session:
              especially in relation to the circuit breakers that are activated when the S&P drops 7% (level 1) and there is a 15 minute pause.

              then 15% (level 2) with another pause.

              then if 20% down the market closes.

              I think I have the details right and the basic concept explained correctly.

              Comment


                Originally posted by TexasHusker View Post
                Yes who knows. It’s all very scary for so many - not only investments but jobs, potential illness.

                This will pass, but like 9/11, Corona will leave prints on our country. For the next couple of decades, we will all be a little more cautious, and I hope a lot more grateful for the wonderful country we live in, and the many things we have to enjoy and participate in. We’ve got it good.
                Yes. This is going to affect people for years to come. Investments decimated. Jobs lost. People racking up debt to get by. The market might recover in a couple of years but there will be long-lasting effects.
                Steve

                * Despite the high cost of living, it remains very popular.
                * Why should I pay for my daughter's education when she already knows everything?
                * There are no shortcuts to anywhere worth going.

                Comment


                  looks like we are going to get a big bounce this morning. could be technical. shorts are getting squeezed.

                  but not sure if we have hit bottom yet.
                  the erratic market is out of balance due to way too much uncertainty

                  i think it might be time to start buying

                  Brian

                  Comment


                    Originally posted by bjl584 View Post
                    looks like we are going to get a big bounce this morning. could be technical. shorts are getting squeezed.

                    but not sure if we have hit bottom yet.
                    the erratic market is out of balance due to way too much uncertainty

                    i think it might be time to start buying
                    I’m kicking myself for not pulling the trigger on some things I was watching yesterday. I could have done well this morning. I was too busy at work and before I realized it the market was closed. I’ll be watching today.
                    Steve

                    * Despite the high cost of living, it remains very popular.
                    * Why should I pay for my daughter's education when she already knows everything?
                    * There are no shortcuts to anywhere worth going.

                    Comment


                      I’m wondering if I should do a 401k to Roth 401k conversion now or if that money that would pay the taxes would be better invested. What do you people think?

                      Comment


                        Originally posted by skives View Post
                        I’m wondering if I should do a 401k to Roth 401k conversion now or if that money that would pay the taxes would be better invested. What do you people think?
                        I did a really small conversion end of Feb (about 1K) and then decided maybe we haven't reached the floor. So, I am waiting a bit longer.
                        Would the money you are investing be after tax money? If you invest it in an after tax account and the market goes down--at least you can tax loss harvest. If you do a conversion and the market goes down you still owe taxes on the higher amount.

                        Comment


                          Originally posted by bjl584 View Post
                          looks like we are going to get a big bounce this morning. could be technical. shorts are getting squeezed.

                          but not sure if we have hit bottom yet.
                          the erratic market is out of balance due to way too much uncertainty

                          i think it might be time to start buying
                          if we're throwing out guesses, i'd say it's a dead cat. we have further to go. Just a datapoint, but keep in mind that we're nowhere near to the levels of the 2009 crisis.... we'd need to drop another 25%

                          Comment


                            Originally posted by ~bs View Post

                            if we're throwing out guesses, i'd say it's a dead cat. we have further to go. Just a datapoint, but keep in mind that we're nowhere near to the levels of the 2009 crisis.... we'd need to drop another 25%
                            I hate to say it but I was kind of hoping the slide would continue today. I'm off and ready to buy. I was watching intermittently yesterday at work but couldn't focus and commit. It's early. We'll see how the day goes.
                            Steve

                            * Despite the high cost of living, it remains very popular.
                            * Why should I pay for my daughter's education when she already knows everything?
                            * There are no shortcuts to anywhere worth going.

                            Comment


                              I updated our portfolio spreadsheet and our stock allocation has dropped a lot.

                              I just picked up 300 shares of JETS, the airline ETF, in my Roth. That barely moves the needle on our allocation but I'm still keeping an eye on things.
                              Steve

                              * Despite the high cost of living, it remains very popular.
                              * Why should I pay for my daughter's education when she already knows everything?
                              * There are no shortcuts to anywhere worth going.

                              Comment


                                Originally posted by disneysteve View Post
                                I updated our portfolio spreadsheet and our stock allocation has dropped a lot.

                                I just picked up 300 shares of JETS, the airline ETF, in my Roth. That barely moves the needle on our allocation but I'm still keeping an eye on things.
                                yeah, just keep accumulating down. when the market eventually recovers, you'll look like a genius.

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