DOW 20k!!! - the investing thread

The Dow Jones Industrial Average fell more than 1,800 points at the open, while the S&P 500 plunged 7%. The massive sell-off triggered a key market circuit breaker in morning trading. Trading was halted for 15 minutes until reopening at 9:49 a.m. ET.

 

I am an old man and nothing surprises me anymore. But I must say the bent crude prices this morning are absolutely freaking shocking.

 

Recovering a bit at noon.

 

I'm watching RCL and CCL to buy low/sell high. Probably not there yet, but jeez what more could go wrong to sink that ship further.
They're not big dividend payers so they wouldn't be keeprs long term.

 

Wow cruise lines the day govt Says it will not rescue Americans if they’re stuck overseas. They tell me I’m aggressive..

looking at chevron As I don’t think that Saudi and Russians will keep this game up forever..

plus side gas is going cheaper

 

Theoretically it is easy money. Once the ships are back to 104% occupancy which, unless this virus persists, should be in two months, they'll be back in business. They have insurances and cash to weather this storm. Stock should recover in 6 to 9 months. Maybe a year to get back on track, tops.

Russians are sitting on cash from oil just like Norway. I bet they can play chicken with the Saudis longer than the Saudis would like. Plus if they can trigger a recession here they play a role in the November Election. Meddlers !

 

It’s about time gas fall below $2 again anyway. In 2000 & 2001 I was paying $1.38-$1.40 for 93-94 octane from Ohio to Michigan, KY, VA, WV, and TN, then it shot to over $4 for the same gas....all in a few years.

Those high gas prices hurt a lot of hard working families all across this country. Let them squabble over that oil...we don’t need it anyway. Although...I’ve always said burn all theirs and save all of ours.

 

Must have been in 2001 that I paid $1.38-$1.40 for the highest 93-94 octane.

I had bought a used 2001 Z71 with only 9,000 miles on it. An old man had bought it, died, and his widow wanted rid of it. I had put a large sum of money down on it and before my wife could drive it off the lot a guy backed into it and crushed it from the passenger door to the center of the rear wheels. She was sitting in the truck and the salesman was showing her how to adjust the seat and out of nowhere...WHAM-O!!!!

They offered to fix it, but I declined and asked for my check back. They were not happy, but neither was I. Guy tried to apologize. I told him best thing for him to do was just walk away. Looking back that was harsh, but at the time it fit. Lol!

I went and bought Buick Regal GS with a supercharger in it. Ran great! Cheap on gas until it went to nearly $4 a gallon. I unloaded that sucker because it required high octane fuel. Never again!!!!

 

Not harsh at all Hoytman You just handed out some very useful suggestions at that specific moment in time!

 

Stocks don't go on sale like this often. While some people are stockpiling toilet paper and spam in this time of uncertainty, I'm adding more $ to my retirement.

 

I really hope this does not turn into a long time opportunity to buy stocks at low prices....

Lived through too many recessions in my lifetime.

No where near as what my parents went through during the depression though.

 

Wonder how long it will take to reach DOW 20K?!?!?!?!?!?.......

 

I just mailed a check to our grandson’s 529 plan. We have it in 100 % stocks. He won’t need it for 17 and a half years.

 

What a great grandpa!

 

The market just does not like not having the answers to its questions. The question is how much is corona19 going to take off our GDP. The answer is nobody has a clue. So the market, much like a 3 year old is having a tantrum.. and all the ETF. And managed funds are derived from each sector or S&P so is amount of moves and speed are scary.

 

Wonder where/when the bottom is? Nobody knows....could be now or 2 years from now.

I'm playing the 20 year game...the market is playing the 3 month game....feels like a bunch of junior high girls where everything is either a crisis or the bestest thing ever....

The next 3 month game will be the election....then the xxxxxx....

 

All the experts are saying this is a corona virus market. I disagree. Wall Street is scared the heck of Bernie and sub $30 crude IMO

 

life is good time to buy.

 

This chit makes me want to cry. I just started with a new company, and was going to move my old 401K into an IRA. Things got busy and I put it on the back burner for a few days, then this hit. Had I asked for a check at that time, my retirement funds would have been looking MUCH better in a hurry.