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(CNN)   Dow dives 373 points or 1.8%, the biggest drop since September, as political drama rattles the market or as Trump calls it, winning so much it'll make your head spin   ( money.cnn.com) divider line
    More: Followup, Dow Jones Industrial Average, Dow Jones & Company, Dow Jones, Trump, Wall Street, Dow Jones Indices, President Trump, Trump soap opera  
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444 clicks; posted to Business » on 17 May 2017 at 8:39 PM (27 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



43 Comments     (+0 »)
 
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2017-05-17 04:48:41 PM  
Don't be silly, that's just the Obama recession finally kicking in
 
2017-05-17 05:15:53 PM  
Subby, that's like summarizing the Gettysburg Address with "as Abe said, 'four score'." When Gettysburg, Kennedy's inaugural speech, and I have a Dream are forgotten footnotes of history, the beauty of Trump's historic oration will still be celebrated for its poetic rhythm:

"We're going to win. We're going to win so much. We're going to win at trade, we're going to win at the border. We're going to win so much, you're going to be so sick and tired of winning, you're going to come to me and go 'Please, please, we can't win anymore.' You've heard this one. You'll say 'Please, Mr. President, we beg you sir, we don't want to win anymore. It's too much. It's not fair to everybody else.' And I'm going to say 'I'm sorry, but we're going to keep winning, winning, winning, We're going to make America great again."
 
KIA
2017-05-17 08:59:11 PM  
Umm... that's because the market seems to think Trump is in trouble and can't push his agenda forward right now so companies aren't going to do very well unless and until this shiatstorm passes?
 
2017-05-17 09:00:34 PM  
Saw this coming and pulled my money out a couple weeks ago. Left some in gold, made several thousand dollars on paper today. Yea me!
 
2017-05-17 09:21:22 PM  
I imagine many people will be thrilled if the economy goes in the shiatter as long as they can blame Trump.
 
2017-05-17 09:21:39 PM  
2-3 years I sold everything, figuring the market was overpriced and would drop from 18k to 16k within a year.  You can see how that worked out.

That said, 6 months ago I compared the prices I sold at with the current prices, I did the right thing.

/ just held the wrong stocks
// market timing, how does it work?
/// buy FUN and AAXN, the only 2 stocks I currently own
 
2017-05-17 09:28:58 PM  
Trump done rattled the rich folks.  Surest sign yet he's gonna get impeached.
 
2017-05-17 09:33:29 PM  
The Trump rally was always retarded. The shiat show before us today was always the most likely outcome of a Trump regime, and if American business was actually run by smart people, that would have been priced in. I guess it's time to reallocate things away from stocks for a while and wait for the market to tank hard. Then I can get back in.
 
2017-05-17 09:35:25 PM  
I bought Ford.

I made a goddamn killing when it dropped like a rock during the last Republican Recession. Bought it at something like $2.50 a share and sold it for around $13 a share. Made about fifteen grand. That and Bank of America was basically my whole ticket into the market.

I know lighting striking twice is supposedly long odds, but I figure betting against republicans in the long term is pretty safe.
 
2017-05-17 09:43:14 PM  
i'm putting all my money into popcorn futures
 
2017-05-17 09:54:35 PM  
Sold all my stuff earlier this year while the market was still over 30k.

You were a damned fool if you thought that would last.
 
2017-05-17 10:07:13 PM  
The Trumps are coming home to roost now...
 
2017-05-17 10:17:28 PM  
When it hits 12k, it will be time to buy again.
 
2017-05-17 11:16:40 PM  
Is America great again yet?
 
2017-05-17 11:18:44 PM  
 
2017-05-18 12:00:31 AM  

WalkingCarpet: Don't be silly, that's just the Obama recession finally kicking in


I thought wallstreeters liked fascists?  The old saying is true: be careful what u wish for, u just might get it.
 
2017-05-18 12:02:31 AM  

wax_on: Saw this coming and pulled my money out a couple weeks ago. Left some in gold, made several thousand dollars on paper today. Yea me!


Sure beats producing anything of value. Capitalists love living off someone elses labor.
 
2017-05-18 12:03:23 AM  

forgotmydamnusername: The Trump rally was always retarded.


The reasons for most rallies turn out to be retarded in retrospect, but this one was obvious starting on November 8th.
 
2017-05-18 12:04:54 AM  

Weaver95: Trump done rattled the rich folks.  Surest sign yet he's gonna get impeached.


Dont worry, theyve got homes in socialist europe they can move to if needed. The riff raff will be left to clean up the mess the rich created.
 
2017-05-18 12:38:55 AM  

wax_on: Saw this coming and pulled my money out a couple weeks ago. Left some in gold, made several thousand dollars on paper today. Yea me!


Meh...timing the market rarely pays off in the longer term.
 
2017-05-18 12:41:28 AM  

Snotnose: 2-3 years I sold everything, figuring the market was overpriced and would drop from 18k to 16k within a year.  You can see how that worked out.

That said, 6 months ago I compared the prices I sold at with the current prices, I did the right thing.

/ just held the wrong stocks
// market timing, how does it work?
/// buy FUN and AAXN, the only 2 stocks I currently own


Are you sure you did the right thing 6 months ago? We are 5.5 months into the year and YTD the total stock market(CRISP index) is up 5.5%. That is including the 1.8% drop today. Hell, international stocks are up ~13% this year (counting the 1.3% drop today).

Don't get me wrong, I wouldn't market time better than you... I just don't market time.
 
2017-05-18 12:44:37 AM  

skozlaw: I bought Ford.

I made a goddamn killing when it dropped like a rock


No, no, no. Chevy is like a rock. Ford is built Ford tough.
 
2017-05-18 12:56:47 AM  

jjorsett: I imagine many people will be thrilled if the economy goes in the shiatter as long as they can blame Trump.


It's like political ad libs from 8 years ago can apply today. Fascinating.
 
2017-05-18 12:57:37 AM  

jjorsett: I imagine many people will be thrilled if the economy goes in the shiatter as long as they can blame Trump.


Don't be silly!

All the Republicans will blame Obama and Hillary. It's all they've ever done, and they've gotten REALLY good at it.

(And where WAS Obama on the night of 9/11? And why was his Katrina response so belated? Let's have another 57 hearings!)
 
2017-05-18 01:16:35 AM  
Jared is probably short on it
 
2017-05-18 01:55:11 AM  

Harry_Seldon: wax_on: Saw this coming and pulled my money out a couple weeks ago. Left some in gold, made several thousand dollars on paper today. Yea me!

Meh...timing the market rarely pays off in the longer term.


I would generally agree with you but find exception when it's obvious that there's going to be a market downturn. I've pulled out of the market a few times when it seemed clear to me that there was too much instability to stay in and each time it's been the right decision.
 
2017-05-18 02:43:23 AM  

Vlad_the_Inaner: Jared is probably short on it


Jared the Subway guy?  I'm sure he's getting the long end right now...

Ohh that Jared.  Answer is probably the same for him...
 
2017-05-18 03:22:58 AM  

wax_on: Saw this coming and pulled my money out a couple weeks ago. Left some in gold, made several thousand dollars on paper today. Yea me!


Have you ever gone into Strategic Metals futures?  I don't see any wars winding down and there are cruise missiles to replace and all sorts of things that need gold, platinum, silver, etc..
 
2017-05-18 06:49:25 AM  

KIA: Umm... that's because the market seems to think Trump is in trouble and can't push his agenda forward right now finally realize now that Trump is a piece of shiat who's not even good for short-term superficial gains, so companies aren't going to do very well unless and until this shiatstorm passes?

 
2017-05-18 06:58:43 AM  

Vlad_the_Inaner: Jared is probably short on it


what about zales?
 
2017-05-18 06:59:47 AM  
None of the fundamentals of the economy are going to change in the short term; there won't be any new budgets passed with the precious tax cuts, there aren't going to be any "job killing" regulations created, the unemployment rate will continue to stick where it is...Outside of the Fed announcing rate hikes (a likely scenario at this point) we can expect a whole lot of nothing out of DC for the next few years. I thought that's the way big business liked it?
 
2017-05-18 07:02:10 AM  
At some point the sphinctre has to loosen, and all that pent up wet diarrhea come flooding out.
The market is vastly inflated on Trump's ridiculous and false promises.
At some point, all the Wall Street "smart guys" who bought into the fat, perverted huckster's horseshiat are going to wake up from their daydream and shiat their pants - after taking profits, they will then flush Joe Sixpack's 401k right down the toilet just like last time.
Suckeeeeeeeeeers!
 
2017-05-18 07:02:40 AM  

wax_on: Harry_Seldon: wax_on: Saw this coming and pulled my money out a couple weeks ago. Left some in gold, made several thousand dollars on paper today. Yea me!

Meh...timing the market rarely pays off in the longer term.

I would generally agree with you but find exception when it's obvious that there's going to be a market downturn. I've pulled out of the market a few times when it seemed clear to me that there was too much instability to stay in and each time it's been the right decision.


I have too but when I went back and reconstructed the full economics compared to simply staying the course--gains I missed by pulling out a bit earlier than the peak, and re-entering a bit into the recovery, plus dividends--the actual advantage was modest, and not something I'd count on with a small sample size of 2 downturns. It feels a lot smarter than it actually is.
 
2017-05-18 09:18:56 AM  
Note for a second how the market went up when he was elected, and anything that looks even slightly like it hurts him makes the business analysts skittish.

Its almost like he is good for our economy.

But go on, keep hating on him because you don't like orange people.

/racists
 
2017-05-18 09:49:41 AM  

I sound fat: Note for a second how the market went up when he was elected, and anything that looks even slightly like it hurts him makes the business analysts skittish.

Its almost like he is good for our economy.

But go on, keep hating on him because you don't like orange people.

/racists


Just like Fyre Festival failed because ticket holders got "skittish," right? Not the other way around?
 
2017-05-18 10:21:02 AM  
Trying to time the market is a fool's errand.

Hell, the markets are back up so far today.
 
2017-05-18 11:16:27 AM  

Yankees Team Gynecologist: I sound fat: Note for a second how the market went up when he was elected, and anything that looks even slightly like it hurts him makes the business analysts skittish.

Its almost like he is good for our economy.

But go on, keep hating on him because you don't like orange people.

/racists

Just like Fyre Festival failed because ticket holders got "skittish," right? Not the other way around?


I was talking about things that matter.  you are talking about.... something only whippersnappers understand.

/ im not old, shuddup.
 
2017-05-18 11:27:55 AM  

I sound fat: Note for a second how the market went up when he was elected, and anything that looks even slightly like it hurts him makes the business analysts skittish.

Its almost like he is good for our economy.

But go on, keep hating on him because you don't like orange people.

/racists


It's almost like you have no idea what a healthy economy looks like.
 
2017-05-18 12:13:09 PM  

machoprogrammer: Trying to time the market is a fool's errand.

Hell, the markets are back up so far today.


machoprogrammer, always bringing much appreciated sanity to these threads.

I'm curious if the (seemingly fairly wide spread) lack of understanding proper investment strategy terrifies you.
 
2017-05-18 12:58:23 PM  

donutsauce: machoprogrammer: Trying to time the market is a fool's errand.

Hell, the markets are back up so far today.

machoprogrammer, always bringing much appreciated sanity to these threads.

I'm curious if the (seemingly fairly wide spread) lack of understanding proper investment strategy terrifies you.


It doesn't really scare me because I stick to my asset allocation (strategy recommended by Jack Bogle and Warren Buffett) so I will be fine.

However, when people talk about "getting out of stocks because it looks scary" or whatever, it reminds me of me when I first started. I tried to time the market and all that. Cost me a lot of returns, too. I just know that these market timers will be like the folks in 2008 who took all their money out, put it into money markets, and never put it back in because the market was not stable and lost a ton of returns. They need to learn that the market is never stable and you won't beat wall street professionals whose lives revolve around trading and have inside information... By the time us regular folks have information, the price is already priced into stocks.
 
2017-05-18 01:28:35 PM  

machoprogrammer: donutsauce: machoprogrammer: Trying to time the market is a fool's errand.

Hell, the markets are back up so far today.

machoprogrammer, always bringing much appreciated sanity to these threads.

I'm curious if the (seemingly fairly wide spread) lack of understanding proper investment strategy terrifies you.

It doesn't really scare me because I stick to my asset allocation (strategy recommended by Jack Bogle and Warren Buffett) so I will be fine.

However, when people talk about "getting out of stocks because it looks scary" or whatever, it reminds me of me when I first started. I tried to time the market and all that. Cost me a lot of returns, too. I just know that these market timers will be like the folks in 2008 who took all their money out, put it into money markets, and never put it back in because the market was not stable and lost a ton of returns. They need to learn that the market is never stable and you won't beat wall street professionals whose lives revolve around trading and have inside information... By the time us regular folks have information, the price is already priced into stocks.


It's unfortunate seeing people try timing the market or not diversifying.  I suppose a bad strategy is less worrisome than people who don't really understand what compound interest can do over a couple decades or "don't trust wall street" so they just don't invest.  On the surface it just means investors will have more money than non investors, but I worry that on a broad scale, over time, something no so great will come of this.
¯\_(ツ)_/¯
 
2017-05-18 02:02:40 PM  

donutsauce: machoprogrammer: donutsauce: machoprogrammer: Trying to time the market is a fool's errand.

Hell, the markets are back up so far today.

machoprogrammer, always bringing much appreciated sanity to these threads.

I'm curious if the (seemingly fairly wide spread) lack of understanding proper investment strategy terrifies you.

It doesn't really scare me because I stick to my asset allocation (strategy recommended by Jack Bogle and Warren Buffett) so I will be fine.

However, when people talk about "getting out of stocks because it looks scary" or whatever, it reminds me of me when I first started. I tried to time the market and all that. Cost me a lot of returns, too. I just know that these market timers will be like the folks in 2008 who took all their money out, put it into money markets, and never put it back in because the market was not stable and lost a ton of returns. They need to learn that the market is never stable and you won't beat wall street professionals whose lives revolve around trading and have inside information... By the time us regular folks have information, the price is already priced into stocks.

It's unfortunate seeing people try timing the market or not diversifying.  I suppose a bad strategy is less worrisome than people who don't really understand what compound interest can do over a couple decades or "don't trust wall street" so they just don't invest.  On the surface it just means investors will have more money than non investors, but I worry that on a broad scale, over time, something no so great will come of this.
¯\_(ツ)_/¯


Yep and then those same non-investors will complain about how it's impossible to make money in the stock market unless you are a big wig, even though standard index funds are open to anyone and outperform the majority of "big wigs" anyway
 
2017-05-18 05:21:28 PM  
I happened to be watching CNBC yesterday and the ensuing wank fest was pretty entertaining.   Not quite sure I buy the Donald isn't getting his way excuse for the sell off though.
 
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