Back to Boards

Stock Market


Stock Market

Boy, the Corona Virus pandemic is really hitting Wall Street HARD. It's also being cruel, goes up 1000 points and a bunch of people breathe a sigh of relief and buy back in, then as soon as they peak their heads up, they get clubbed like a Harp Seal because the next day it's down 2500- Not nice

Re: Stock Market

It's tanking again this morning - it's finally below 20,000. Recession is a foregone conclusion. Woke up this morning to a 1.5 interest rate for my APY savings account. It's gonna get worse. I'm glad I'm retired and don't have to worry about being layed off (or just let go). SS and Pension will keep coming (I hope).

- The Sheik

Re: Re: Stock Market

As I understand it there's an "oil war" going on as well. As those countries drive the price down it drives the stock market down. So two things are impacting it.

Once we get past the top of the bell curve on the virus and once that "oil war" is over, I suspect we'll see a big swing the other direction. Of course it could be more drawn out than the crash because both probably wont happen at the same time, but I think it will rebound.

I'm not an expert but I dreamt about sleeping at a Holiday Inn Express last night!

Re: Stock Market

Any one trying to buy the lows and sell on the highs is playing a dangerous game. I took my money out weeks ago when I knew this would at least mess up supply chains and lead to bad earnings report. This thing still has a bit to drop. We haven’t even seen the worst of it here yet.

I’m starting to worry about inflation with all this money the government is talking about giving out. I know some people might need it, but there is going to be a consequence for this. Never a bad idea to at least place a small bet on crypto, to headge against inflation.

And the Fed jumped the gun way to fast... As of yesterday Goldman Sachs had a 1 year CD at 1.86%, Incase your looking for somewhere to stow your money away.

This is a short term problem, but if you play your cards right and pay attention. You could reap the benefits of the market shooting back up after this.

Re: Re: Stock Market

As a wise man once said: "Be fearful when others are greedy, be greedy when others are fearful."