Black Monday:Nikkei stock index closes largest point drop in history in a single day 4,400 points

originally posted by: 38181

For those with 401K’s what do we do?, asking for a friend.

Just sit through it and wait it out. The market has dipped before.

originally posted by: network dude
a reply to: putnam6

Buy the tasty dip?

A good time to "back up the truck" as the influencers say

a reply to: network dude
I am watching mine, it really is not that bad. For me it only looks like those minor corrections we have every few months. I am still up over 10% YTD. I am hesitant to move anything. I thought about dumping last night when I read Buffet/Berkshire was dumping so much Apple and BoA stock. Like a # ton. I was not that exposed to those either, per my direct management so I just wrote it off as profit taking in anticipation of a correction.

The only way to convince me to panic sell is if something convinved me this is the official bubble burst. But with weapons of war flying everywhere, I am fairly confident on continued production in key sectors I am exposed to, which continue to generate value and increase their valuations. Since we are expecting rate cuts I am probably going to move out of my bonds and place in cash reserve accounts. They had been going up nicely, but with rate cuts likely in September, I will just wait until after the cuts to see if I want to buy back in. In the meantime, I would rather not get caught off guard with the bonds and will move them this week.

Positioning has been a big driver of recent market moves. US equities, particularly the tech sector, [were] over-owned and some froth needed to be cleared… We do not see the correction in risky assets as a start of a downturn. In our view, correction and clean-up of positions does make sense,” Mohit Kumar, chief economist for Europe at Jefferies investment management firm, told Reuters.

a reply to: putnam6

Is anyone experiencing what these poor investors are? All I can say is, the "plunge protection team" is definitely working against investors.

Retail Traders Furious As Outages Hit Major US Brokerages Amid Black Monday Chaos

US retail traders are panicking this AM after likely receiving push notifications on their smartphones about market turmoil in Asia and Europe, which has since spread to the US premarket. Now that the cash session is about 15 minutes underway, website monitor DownDector reports outages are emerging across several major US brokerage houses as everyone tries to log into their accounts and sell stocks.

DownDector reports that users of Charles Schwab, Fidelity, Ameritrade, Vanguard, and E-Trade are all reporting website outages, which have been surging around the start of the US cash session.

www.zerohedge.com...
Straight BS. SMH.🤦

a reply to: VariedcodeSole

I don’t touch my long stuff.

But if I’m gambling with the short term I learned to put in limit orders with an expiration date so everything can be on autopilot from a calmer version of myself.

I can’t afford to be at work and freak out about the market. Much better to calmly decide the night before what prices I’ll buy and sell at, put in the orders, set it and forget it.

originally posted by: network dude
a reply to: putnam6

I remember just the other day, the lefties were celebrating that our recession woes had a nice soft landing. I suppose to prop up Biden's policies, as they translate to being Harris' policies, with regard to the election.

Crypto seems to be a canary in the coal mine, it tanked yesterday, after a slow downward spiral.

Buy the tasty dip?

I expect in a couple of days at this rate, with cash in hand to be able to buy buy buy, someone will get real rich Maybe just buying futures for those who think they see the stocks that have to come back some time.

a reply to: VariedcodeSole

I logged into Vanguard just fine last night and this morning. Although it gave me one hiccup about 5pm or so last night, but i got right back in without any issue.

a reply to: network dude
No maybe not , maybe a bit far fetched but if they have the power manipulate stock markets and even targeting certain groups that they know are closely related to Trumps legacy, we might understand that this again goes down that deeper rabbit hole ?

What will happen if around the elections a country or even the world heads to another recession one that takes years to recover from ?

I don't understand thestock marget at all, but when Warren Buffet sold off 75.5 million dollars worth of stock in the second quarter and over 3 billion in Bank of America stock just last week. I wobder what he knows that I didn't?

a reply to: Mantiss2021

Percentage matters.

Points do not..

originally posted by: nugget1
I don't understand thestock marget at all, but when Warren Buffet sold off 75.5 million dollars worth of stock in the second quarter I wodered what he knew that I didn't.

75.5 billion, which in the grand scheme of things is a drop in the bucket compared to the market as a whole. It’s already sold and being reported on now, so they sold it slowly most likely and didn’t make a huge impact until it was made public since he’s a huge indicator.

But he regularly rotates stocks. He’s likely making his next play or sitting on dry powder for an anticipated drop.

All in all, I don’t think this correction is going to be much bigger than any of the other post Covid ones barring another huge outlying event.

originally posted by: 0bserver1
a reply to: network dude
No maybe not , maybe a bit far fetched but if they have the power manipulate stock markets and even targeting certain groups that they know are closely related to Trumps legacy, we might understand that this again goes down that deeper rabbit hole ?

What will happen if around the elections a country or even the world heads to another recession one that takes years to recover from ?

I for one, believe this as high probability.

a reply to: 0bserver1

No maybe not , maybe a bit far fetched but if they have the power manipulate stock markets and even targeting certain groups that they know are closely related to Trumps legacy, we might understand that this again goes down that deeper rabbit hole ?

EV and Tech have probably taken the biggest hit.

What stocks or industries do you feel like are tied to his legacy?

I know politics is a variable on the market, but I think people try to tie domestic politics to the global market too much. It’s a small part of it, not what dictates it.

a reply to: Kaiju666
It's a usable scenario, and divert all promising agenda's to a global outrage or conflict. Bad countries will use this negativity for their own purposes?

originally posted by: Kaiju666

originally posted by: 0bserver1
a reply to: network dude
No maybe not , maybe a bit far fetched but if they have the power manipulate stock markets and even targeting certain groups that they know are closely related to Trumps legacy, we might understand that this again goes down that deeper rabbit hole ?

What will happen if around the elections a country or even the world heads to another recession one that takes years to recover from ?

I for one, believe this as high probability.

Possibility or probability?

If it’s a high probability it should be pretty easy to show the math.

a reply to: network dude

I can't even open my Schwab app to view the damage.

originally posted by: CriticalStinker

originally posted by: nugget1
I don't understand thestock marget at all, but when Warren Buffet sold off 75.5 million dollars worth of stock in the second quarter I wodered what he knew that I didn't.

75.5 billion, which in the grand scheme of things is a drop in the bucket compared to the market as a whole. It’s already sold and being reported on now, so they sold it slowly most likely and didn’t make a huge impact until it was made public since he’s a huge indicator.

But he regularly rotates stocks. He’s likely making his next play or sitting on dry powder for an anticipated drop.

All in all, I don’t think this correction is going to be much bigger than any of the other post Covid ones barring another huge outlying event.

That was half of his Apple stock.That seems to me like he knows things are going to crash and is maybe pulling out ahead of the rush?

originally posted by: nugget1

originally posted by: CriticalStinker

originally posted by: nugget1
I don't understand thestock marget at all, but when Warren Buffet sold off 75.5 million dollars worth of stock in the second quarter I wodered what he knew that I didn't.

75.5 billion, which in the grand scheme of things is a drop in the bucket compared to the market as a whole. It’s already sold and being reported on now, so they sold it slowly most likely and didn’t make a huge impact until it was made public since he’s a huge indicator.

But he regularly rotates stocks. He’s likely making his next play or sitting on dry powder for an anticipated drop.

All in all, I don’t think this correction is going to be much bigger than any of the other post Covid ones barring another huge outlying event.

That was half of his Apple stock.That seems to me like he knows things are going to crash and is maybe pulling out ahead of the rush?

He’s one of the smartest investors IMO.

But if you look at Apple they already captured the market share of the US, and their growth is capped in other markets like China and India to some degree.

I think he got his money and it is smart to sit on dry powder right now.

Phones last longer now and aren’t making leaps and bonds on technology, so they aren’t being made obsolete as fast as say five years ago. That and consumers are dialing back on frivolous spending.

I’m not necessarily bullish short term right now, but I also don’t think we’re going to see anything apocalyptic.

The time to buy is when blood is in the streets...

The small individual investors start panicking and sell because the market is down. Those that know what they are doing are buying.

Over the long haul, the markets return about 10% a year. There will be periods where there are losses but they are offset by the gains which is how the market averages that 10% return.

This is good news for me as I am in mortgage business and this means rates will be going down. We may see another refinance boom soon. It has been painful last three years with the high interest rates and half dead purchase market.

originally posted by: FlyersFan

originally posted by: 38181

For those with 401K’s what do we do?, asking for a friend.

Just sit through it and wait it out. The market has dipped before.

I made people sign a note when they wanted to transfer out (against my advice) due to a market drop. All except the older clients regretted locking in their losses like that, a few months later. The Obama downturn, followed by a quick upturn, caused quite a bit of anguish.