OT - Dow plunges 1,175 - worst point decline in history - Page 6

saab2000 · #76 02-09-2018, 07:30 AM

Quote:

Originally Posted by oldpotatoe

LOTSA 401ks and other pension plans are effected by this..

That's the overwhelming majority of who is affected by this. The statement about most Americans not owning stock is borne out by the fact that many Americans have no 401k or retirement savings of any sort. And many who do don't understand basics about them, like not cashing them out when they change jobs.

What people seem to forget in these situations is that they still have the same number of shares. That doesn't change unless they are withdrawing from their accounts. These are just expansions or contractions of a balloon that isn't letting gas escape.

It's a correction that was to be expected and there's probably more to come.

oldpotatoe · #77 02-09-2018, 08:09 AM

Quote:

Originally Posted by saab2000

That's the overwhelming majority of who is affected by this. The statement about most Americans not owning stock is borne out by the fact that many Americans have no 401k or retirement savings of any sort. And many who do don't understand basics about them, like not cashing them out when they change jobs.

What people seem to forget in these situations is that they still have the same number of shares. That doesn't change unless they are withdrawing from their accounts. These are just expansions or contractions of a balloon that isn't letting gas escape.

It's a correction that was to be expected and there's probably more to come.

Agree but those that may be 'hurt', are those, because of their circumstances, HAVE to use their 401k to survive..I feel for anybody who's retirment date is Monday(assuming today is going to be another blood letting)...

saab2000 · #78 02-09-2018, 08:12 AM

Quote:

Originally Posted by oldpotatoe

Agree but those that may be 'hurt', are those, because of their circumstances, HAVE to use their 401k to survive..I feel for anybody who's retirment date is Monday(assuming today is going to be another blood letting)...

Well, even if their retirement is Monday, they don't have to take all their money out at once. And even if they did, it's still way up over the past few years.

We'll see what happens. As mentioned, I'm changing nothing in my long-term strategy but I have a long ways until retirement.

zap · #79 02-09-2018, 08:29 AM

Quote:

Originally Posted by oldpotatoe

Agree but those that may be 'hurt', are those, because of their circumstances, HAVE to use their 401k to survive..I feel for anybody who's retirment date is Monday(assuming today is going to be another blood letting)...

Typically one moves investments to the conservative side of the risk scale as retirement date approaches.

summilux · #80 02-09-2018, 10:42 AM

The cryptocurrency people have great advice for people encountering a dip/correction. First: Zoom The F***k Out, meaning put your graph on the 1 year setting. This correction brings us back to when? Last December? Were you happy then? You should've been and you should be happy now.

Second: Buy the dip

Third: HODL

Tony T · #81 02-09-2018, 11:26 AM

Quote:

Originally Posted by summilux

..
Second: Buy the dip
…

Which one? There were at least 5 this week

unterhausen · #82 02-09-2018, 12:24 PM

when I traded, I never really aimed to hit the very bottom or the very top, it's just not possible. Of course, if you are only in funds, that makes it really hard to hit the very bottom or top. My method was to watch CNBC and do the opposite of what they were saying. I forget which one of the financial papers was famous for being a negative predictor, Barrons maybe?

I feel sorry for the people that thought the recent runup meant that they could retire. Oops.

joosttx · #83 02-09-2018, 12:31 PM

Today was the day to buy a little. I believe we are corrected now.

Tony T · #84 02-09-2018, 12:32 PM

Quote:

Originally Posted by unterhausen

…I forget which one of the financial papers was famous for being a negative predictor, Barrons maybe?

…If only I bought and held AMZN when Barron's ran their "Amazon.bomb" page 1 story in 1999:

AMZN was about $8 then!

unterhausen · #85 02-09-2018, 12:35 PM

I got nothin' to buy with now and I sure am not going to sell anything, so it's just entertainment.

ripvanrando · #86 02-09-2018, 12:41 PM

I have limit orders in for T, PFE, XOM and others at the like at $31, $65, and $32 ish but might lower those just a touch. I did buy some Southern Company on a big drop. I'm just an orphans and widows dividend boring guy. Waiting to add to positions. Last night's vote is the reason.

kppolich · #87 02-09-2018, 12:43 PM

Quote:

Originally Posted by joosttx

Today was the day to buy a little. I believe we are corrected now.

also buying a little more today at EOD

Tony T · #88 02-09-2018, 12:43 PM

I don't think last night's vote is a reason to buy.

joosttx · #89 02-09-2018, 12:46 PM

Quote:

Originally Posted by ripvanrando

I have limit orders in for T, PFE, XOM and others at the like at $31, $65, and $32 ish but might lower those just a touch. I did buy some Southern Company on a big drop. I'm just an orphans and widows dividend boring guy. Waiting to add to positions. Last night's vote is the reason.

I bought some T today

joosttx · #90 02-09-2018, 12:46 PM

Quote:

Originally Posted by Tony T

I don't think last night's vote is a reason to buy.

Me neither. That’s not the reason to buy