Jump to content

Markets still falling like whoa


Recommended Posts

For some divine unknown reason I changed my limit buy from SPY 405.00 to 405.80 (52 week low) back on Monday so I just caught this rally and rode it up the last 36 hours. Put in a stop loss at 424 yesterday and it hit during my morning meeting. Crazy market. I'll keep playing these swings I guess and if I screw up and it keeps falling at least I'm invested. Next buy is 400. Then 385. I'm fine with 2-3 percent gains in this choppy market. 

  • Hook 'Em 1
Link to comment
Share on other sites

Um, to whom can I direct my strongly worded letter?  My portfolio is disappearing faster than a twinkie at a Weight Watchers convention.  

Oh, and it has been quite enjoyable watching my son's 529 evaporate right when I need to start dipping into it.

  • Rage+1 2
Link to comment
Share on other sites

The rally yesterday was a head scratcher to me. the Fed did what they told everyone they were going to do, but every single headwind to the economy/market remains in place. While illogical, I didnt expect the market to give it all back in 3 hours this morning, lulz.

Link to comment
Share on other sites

2 minutes ago, Sbbruin said:

Um, to whom can I direct my strongly worded letter?  My portfolio is disappearing faster than a twinkie at a Weight Watchers convention.  

Oh, and it has been quite enjoyable watching my son's 529 evaporate right when I need to start dipping into it.

You basically have to treat a 529 like a retiree portfolio once they are within 1-2 years of college.   May as well not use it at all now until his Jr/Sr year.  

  • Like 1
Link to comment
Share on other sites

11 minutes ago, Trey3216 said:

You basically have to treat a 529 like a retiree portfolio once they are within 1-2 years of college.   May as well not use it at all now until his Jr/Sr year.  

I was thinking that.  Since he's going to a pricey school that his 529 won't cover, I'm thinking we pay cash for the first year or 2 and hope it recovers for yrs 3  and 4.

 

Of course, to do that, I need to liquidate some of my stonks.  So I guess 6 of one, as it were.

Edited by Sbbruin
  • Like 1
  • Haha 1
Link to comment
Share on other sites

33 minutes ago, Sbbruin said:

I was thinking that.  Since he's going to a pricey school that his 529 won't cover, I'm thinking we pay cash for the first year or 2 and hope it recovers for yrs 3  and 4.

 

Of course, to do that, I need to liquidate some of my stonks.  So I guess 6 of one, as it were.

Maybe you should sit him down and talk to him about a "gap" year.
Also, pricy school - congrats on him getting into SC

Edited by Wally Fairway
I kant spel
Link to comment
Share on other sites

22 minutes ago, Wally Fairway said:

Maybe you should sit him down and talk to him about a "gap" year.
Also, pricy school - congrats on him getting into SC

SC over my dead body.  No, Northeastern, with his first year in London, which ups the cost a few $10k's.

  • Haha 2
Link to comment
Share on other sites

5 minutes ago, BLKNSTY said:

Hopefully it’s a sign of a bottom. All in in June $450 calls


Sent from my iPhone using Tapatalk

All you really need is for me to put together a put ladder that goes out the next 3-6 months. That would certainly lead to a bottom and market correction.
FWIW - I'm not there quite yet

  • Hook 'Em 1
Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.



×
×
  • Create New...