Expect a 20% drop on Stock market?
Will it have a dead cat bounce tomorrow ? Or continue to fleece investors?
serf
https://www.cnbc.com/2021/07/18/stock-market-futures-open-to-close-news.html
Dow drops more than 700 points on Monday, heads for worst decline of 2021
U.S. stocks fell aggressively Monday on concern a rebound in Covid-19 cases would slow global economic growth. The selling picked up as the session continued and the Dow Jones Industrial average was currently headed for its biggest drop of the year.
The Dow dropped as low as 842 points Monday morning, exceeding a 2% decline seen in late January, and is now down about 700 points. The S&P 500 fell 1.4% with energy and industrial sectors as the worst performers. The Nasdaq Composite lost 0.8%.
The 10-year Treasury yield fell to a new five-month low of 1.19%, further exacerbating fears about the slowing economy. Crude oil dropped 5%.
“You have two concerns coming together this morning: concerns about market technicals and concerns about growth,” Mohamed El-Erian, chief economic adviser of Allianz and former CEO of PIMCO said on CNBC’s “Squawk Box” Monday. “That’s what all the asset classes are telling you this morning.”
Comments
My feeling is that the opening up of businesses resulted in a overly optimistic market. Add that to the printing and giving away of free money, the market numbers become suspect at best. If the stock of AB doubles so what if my cost of Natural Light doubles also. Admin thinks that inflation is just a "temporary thing" should spend more time shopping. The official inflation rate is calculated by the biggest fraud since Bernie by having energy and food excluded.
OK, I feel better now.
😕
Hmmmm! So much for the dems touting how great they are doing with the economy. Like the last few dumps, I'll just ride it out. So far for me in the last 35 years or so that has been the best plan.
As far as the fleecing comment - those that can't afford the occasional setback definitely should stay out of the market. Bob
It will rebound because this Delta variant scare is a bunch of bull hockey.
Sell on reality I guess LOL
It will drop and rebound when people realize the stupidity of COVID
How's rhubarb doing on the market? I've got 140 acres of it and I'm hoping to cash in soon.
Tell it to the Chinese. Last time I counted It was 4 million dead. Those Commies are the cause but The MSM lies to protect them and censors our free speech here in The US.
https://www.bbc.com/news/world-51235105
The US, India and Brazil have seen the highest number of confirmed cases, followed by France, Russia, Turkey and the UK.
Very few places have been left untouched.
They're just lucky I don't have access to the nuclear missile launch codes. They have declared war on every nation on the planet and killed millions of people and nothing has been done about it! They need to be brought under control!
I agree with your position Smitty. The sad fact is that the CCP owns most of the world's economies. They certainly own the U.S. economy, the biden/obama administration, and all the alphabet propaganda agencies. H*ll, they even own our "professional" athletic organizations. The chinese have successfully made themselves indispensable and beyond any kind of meaningful retribution from the rest of the world. Unless, of course, you get your hands on those nuclear missile launch codes. :<)
Well tighten the seat belts it is about to get bumpy in the stock market. So much is over sold it it actually pathetic. Some Tech stocks will lose badly. It can happen one of two ways... slowly bleeding the market down or just a couple of days of pure bliss . I expect to see it with 3rd quarter earnings coming out..some early. But it will hit sometime the third week of Sept to the second week of Oct.
It's not mine either but I know enough of it to know when this ole world ends it will be because of scientist and not the common man 👍️.
"Never do wrong to make a friend----or to keep one".....Robert E. Lee
The Delta variant is hospitalizing and killing those who are not vaccinated. People have made an informed choice and some have lost in the roulette wheel of life.
Your President himself (in a rare moment of clarity) confirmed that we have a pandemic only amongst the non-vaccinated. The pandemic is over. The delta variant will be followed by 15 more over the next 30 years, and we will deal with them as they come. Hopefully we will be allowed to deal with them as individuals and not as wards of the state.
Brad Steele
Dow is current sitting at just over 35,000. I believe that is a new high
I made over 11% this week. Sitting pretty, I'm thinking about investing in hard commodities next. With the right liquidity I think I can swing half a dozen 2x4s this weekend.
I heard that it's not wise to count your boards before they're milled........
There is no other places to invest right now. CD gets you .1%.
Inflation is here and going to continue. One cannot continue to print and print money without consequences.
I did fairly good by the end of the week but I think July 19th was the worse day this year for me.
Yeah truth be told I'm up over 300% in the last 12 months through some very speculative moves. But there's no justification for a market this big and I know the party is going to end fast. You don't want to be the last one left to turn off the lights.
I'm looking hard at gold and silver rounds in lots of right-size incremental purchases.
I will be really p.o.ed if the market drops by a third. Then I will come to my senses and realize that if it does drop, I will have still averaged 5 or 6% yearly gains on my initial investments. I don't know anywhere else that I can get that interest so I'll just leave it there for now. One of my accounts is a 401k that I haven't done anything with in the last 10 years. That account is now worth over 4 times its 2011 value. For now I'll just leave that money with Voya and if it goes up or down I ain't gonna worry about it. Bob
Bill Gates made some big moves lately in the Stock market. Dump a lot of stock and bought Farmland. Almost 300,000 acres? I suppose you have to eat as you last resort in hard times,you think? Corporate farming is/can be lucrative. They are not making anymore of it unless you live in Hawaii that is 😎
serf
https://www.vox.com/recode/22528659/bill-gates-largest-farmland-owner-cascade-investments
As Mother Jones recently reported, other large financial firms have sought to purchase agricultural land, too, even if they have no involvement in the day-to-day farming operations. Land Report, the outlet that named Gates the top private farm owner, notes several other families that claim well over 100,000 acres. The US Department of Agriculture estimates that about 30 percent of US farmland is rented out by owners who serve as landlords and aren’t involved in farming, like Gates.
All this is to say, it shouldn’t be surprising that Bill Gates, one of the wealthiest people in the world, makes investments to serve his own financial interests.
“It’s a good investment,” Johnathan Hladik, a farmer and the policy director for the Center on Rural Affairs. “It’s smart, it’s stable, and especially over the past couple decades, it seems to be going up.”
Just rolled everything over into a traditional ira going to wait this one out. At 67 I am tired thinking of not working and today was my 43rd anniversary at work.