Current Events > DOW jones continues to plummet even after worst week since 2008

(+) Yeah! (+)

Down 300 points already today.
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Doesn't seem great
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No one that matters cares about the Dow Jones.
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Doesn't seem like Obama's economy set itself up for long term success

Or is it now Trump's economy?
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Damn Obama still ruining our econemy.
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NameMeWhatever posted...

No one that matters cares about the Dow Jones.

8 karma
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SterlingM posted...

Doesn't seem like Obama's economy set itself up for long term success

Or is it now Trump's economy?

It's not economic policies causing this. It's Trump's erratic behavior creating market uncertainties.
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can oil just get to like 60 again though
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SterlingM posted...

Doesn't seem like Obama's economy set itself up for long term success

Or is it now Trump's economy?

Both. The honest answer is both of them are responsible. One for setting things in motion and the other for taking over and maintaining it. If it fails now it's on the hands of the person maintaining it not the one who started it.
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Up
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creativerealms posted...

SterlingM posted...

Doesn't seem like Obama's economy set itself up for long term success

Or is it now Trump's economy?

Both. The honest answer is both of them are responsible. One for setting things in motion and the other for taking over and maintaining it. If it fails now it's on the hands of the person maintaining it not the one who started it.

Lol both sides are not always correct and its not correct to just assume the very middle is the answer

Another 2,000 points at it'll be back to where it was when dipshit took office.
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No one loyal to trump will blame him one iota for this

This collapse happened after the mid terms and is 100% a market reaction to the dems winning the house... even if they haven't been sworn in yet

Market was fine before the mid terms
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frozenshock posted...

No one loyal to trump will blame him one iota for this

This collapse happened after the mid terms and is 100% a market reaction to the dems winning the house... even if they haven't been sworn in yet

Market was fine before the mid terms

The current drop is because of the shutdown. Which is 100% Trumps fault
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Genocet_10-325 posted...

frozenshock posted...

No one loyal to trump will blame him one iota for this

This collapse happened after the mid terms and is 100% a market reaction to the dems winning the house... even if they haven't been sworn in yet

Market was fine before the mid terms

The current drop is because of the shutdown. Which is 100% Trumps fault

https://www.rushlimbaugh.com/daily/2018/12/21/its-the-schumer-shutdown-redux/

You're talking to a wall, dude.
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Down about 500 points now, under 22,000.
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Tyranthraxus posted...

SterlingM posted...

Doesn't seem like Obama's economy set itself up for long term success

Or is it now Trump's economy?

It's not economic policies causing this. It's Trump's erratic behavior creating market uncertainties.

it's the federal reserve chairman he appointed, jerome powell.

quantitative easing increased liquidity by pushing investors out of fixed income assets and into stocks

now the federal reserve is selling the assets they bought in their quantitative easing programs and it has created a bear market

earnings are still up though
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Gee, it looks like Mnuchin making all those phone calls yesterday had the opposite effect he wanted....
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see also

https://seekingalpha.com/article/4208989-feds-quantitative-tightening-bulls-death-knell

i really hate joining the trolls on this one but i had been watching fed QT all year as a risk and was surprised that it wasn't impacting. i got complacent and concluded that it wasn't one after all

it very much is
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frozenshock posted...

Market was fine before the mid terms

no, it was not
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Lol
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Darkman124 posted...

frozenshock posted...

Market was fine before the mid terms

no, it was not

This. There hasnt been steady growth since february
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Genocet_10-325 posted...

This. There hasnt been steady growth since february

also wrong

there has been very substantial growth

there has also been a massive debt bubble that the fed started unwinding mid-2017 and is now unwinding at maximum speed (50 billion of treasury sales a month, which investors who might otherwise buy stocks are soaking up)

what's happening now is forced selling as a result of said bubble being unwound

we will recover so long as it doesn't pop entirely
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I wish I wasn't such a trader
I was positioned to make so much money in this market but I derisked significantly ahead of end of year to lock in my PNL
I could have made another 2 or 3% this month
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you're too kind to people darkman, you give them replies when they don't deserve them
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and i wish i was more of a trader. my brain was screaming for me to turn short and trade the decline but i decided i'd take the slam in order to avoid missing the following rally

which i think has some adage about how that's the way you lose the most or something idk

lesidesi posted...

you're too kind to people darkman, you give them replies when they don't deserve them

heh, thanks. i don't know what motivates me to do so
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if you're interested in a really good read on trader psychology, look up the book "the hour between dog and wolf" by John coates
he's a PhD who was also a trader for years
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Can't go up as fast it was going up forever. Last few years were a lot of growth.

I'm curious where this federal reserve experiment ends up taking us. AFAIK we're in uncharted territory.
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I think you're doing th right thing by not being too much of a trader
unless it's your job and you have a Bloomberg terminal in front of you all day, it's tough to have an edge, and it makes more sense to think longer term
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lesidesi posted...

if you're interested in a really good read on trader psychology, look up the book "the hour between dog and wolf" by John coates
he's a PhD who was also a trader for years

i will grab it on amazon, thanks

lesidesi posted...

I think you're doing th right thing by not being too much of a trader
unless it's your job and you have a Bloomberg terminal in front of you all day, it's tough to have an edge, and it makes more sense to think longer term

you are right--i just am feeling somewhat depressed right now because what kept me from investing in late 2016/2017 was the belief that the end of QE/start of QT would cause this exact situation and the sitting admin would be too idiotic to do anything about it

turns out i was right but early, and i decided i was wrong at exactly the wrong time. another adage i've heard is "every trade is probably a bad one so make as few as possible if you're not an expert"

should've just stuck to my initial buy in feb 2016.

it hurts more because i control both my and my wife's investments, and while she literally stops listening the moment i mention it, i care about how well i manage her accounts

doesnt impact the day to day of my life, ofc.
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Genocet_10-325 posted...

NameMeWhatever posted...

No one that matters cares about the Dow Jones.

8 karma

i dont get why these accounts keep popping up, no one bites anymore.
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E32005 posted...

Genocet_10-325 posted...

NameMeWhatever posted...

No one that matters cares about the Dow Jones.

8 karma

i dont get why these accounts keep popping up, no one bites anymore.

he IS right that S&P500 and Russell 2000 are vastly more relevant indexes
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On the plus side, once the correction bottoms out, you can make a ton of money on the way back up.
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Yikes

Maybe I'll hold off a little bit on buying after all. Need to save money to put into my Roth next year anyways
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Darkman124 posted...

E32005 posted...

Genocet_10-325 posted...

NameMeWhatever posted...

No one that matters cares about the Dow Jones.

8 karma

i dont get why these accounts keep popping up, no one bites anymore.

he IS right that S&P500 and Russell 2000 are vastly more relevant indexes

he literally did not say that
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agree with darkman, that's how I interpreted it too
didn't assume he was saying no one cares about markets
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this is because the Dems shut down the government
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SterlingM posted...

Doesn't seem like Obama's economy set itself up for long term success

Or is it now Trump's economy?

nope its trumps, remember how trump took the blame how it was doing so well starting 2 weeks in?
So he is the cause of it now right?
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Darkman124 posted...

E32005 posted...

Genocet_10-325 posted...

NameMeWhatever posted...

No one that matters cares about the Dow Jones.

8 karma

i dont get why these accounts keep popping up, no one bites anymore.

he IS right that S&P500 and Russell 2000 are vastly more relevant indexes

My old boss was proud of the fact that he had no idea where the Dow was trading.
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Philoktetes posted...

this is because the Dems shut down the government

The shutdown Trump bragged about on live TV?
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E32005 posted...

Genocet_10-325 posted...

NameMeWhatever posted...

No one that matters cares about the Dow Jones.

8 karma

i dont get why these accounts keep popping up, no one bites anymore.

people absolutely do bite. there are people on here that would argue with a wall if it had a trump flyer glued to it
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Ambience posted...

Philoktetes posted...

this is because the Dems shut down the government

The shutdown Trump bragged about on live TV?

Don't respond to Philo please
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Ex-Kefiroth posted...

Starting to wonder if now might be a good time to start going long on the broad market with the stockpile of cash I've been building up.

Unless we're retracing all the way back to pre-Trump levels, which is still a long way to go, but who knows.

There is extreme fear in the market right now.

https://money.cnn.com/data/fear-and-greed/

So unless this is the big one, you would probably make money going long. That being said, I'm not long. But my career is so heavily tied to the market, I feel like I'm better off not double dipping right now.
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Oof, 600 points
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Ex-Kefiroth posted...

tennisdude818 posted...

There is extreme fear in the market right now.

https://money.cnn.com/data/fear-and-greed/

Lol, I've never seen their index go that low before.

So now that all the major indices are -20% from highs (which I've been told is the technical threshold for a bear market), does that usually mean that there is more downside to come? I expect there will be bounces along the way of course, but does this usually indicate a continued downtrend for the foreseeable future?

I mean this is the first bear market in 10 years. I have no idea.
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So many little kids shocked because they've seen a bear market for the first time in their lives, LOL