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(CNBC)   Dow poised to break the 25,000 barrier   ( cnbc.com) divider line
    More: Scary, percent, Chicago Board Options Exchange, Dow Jones Industrial Average, tactical asset allocation, steep sell-off, 2016, biggest one-day sell-off, 2017  
•       •       •

1741 clicks; posted to Business » on 05 Feb 2018 at 1:50 PM (23 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



261 Comments     (+0 »)
 
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2018-02-05 01:52:41 PM  
That's nothing compared to the shellacking that bitcoin is taking.
 
2018-02-05 01:58:00 PM  
MY PONZICOINS ARE WORTHLESS

HOW COULD THIS HAPPEN
 
2018-02-05 01:58:54 PM  
All this tells me is we need Dow Insurance.

Farking Wall Street shouldn't dictate how well the rest of the country does.
 
2018-02-05 01:59:43 PM  

Keyser_Soze_Death: That's nothing compared to the shellacking that bitcoin is taking.


*checks coinbase*

Oh my.  Well, that was entirely expected.
 
2018-02-05 02:00:52 PM  
What could be a more wonderful time to deregulate payday lenders?
 
2018-02-05 02:01:08 PM  
Bitcoin "Millionaires" and stock market junkies:
media1.tenor.comView Full Size
 
2018-02-05 02:01:25 PM  
Sell! Get back in there and sell!
 
2018-02-05 02:02:49 PM  
Nobody knew stock market bubbles were so complicated.
 
2018-02-05 02:05:56 PM  
My patience waiting for video cards to come back down to reasonable prices is wearing thin.
 
2018-02-05 02:08:49 PM  

Markoff_Cheney: My patience waiting for video cards to come back down to reasonable prices is wearing thin.


I think you should hang on just a bit longer...

img.fark.netView Full Size
 
2018-02-05 02:11:22 PM  

Markoff_Cheney: My patience waiting for video cards to come back down to reasonable prices is wearing thin.


Or you could, you know, buy an Xbox One.  Become part of the Console Master Race.  Buy Battlefront II and all the DLC.

Or maybe not.  Electronic Arts never wanted your money, anyway.
 
Azz [TotalFark]
2018-02-05 02:14:48 PM  

Keyser_Soze_Death: That's nothing compared to the shellacking that bitcoin is taking.


Prediction Daddy strikes again

img.fark.netView Full Size
 
2018-02-05 02:15:04 PM  

Markoff_Cheney: My patience waiting for video cards to come back down to reasonable prices is wearing thin.


I recently upgraded to a GTX1080 and gave my friend's kid my old GTX1060 (6GB) so they could run VR.  That 1060 now costs more than I paid for the 1080.

The good news is that when if this crypto-currency fad fades, you'll be able to pick up 1080TI's for a song.
 
2018-02-05 02:15:14 PM  
I get such schadenfreude when rich people loose a lot of money.
 
2018-02-05 02:18:23 PM  

whidbey: All this tells me is we need Dow Insurance.

Farking Wall Street shouldn't dictate how well the rest of the country does.


img.fark.netView Full Size
 
2018-02-05 02:18:49 PM  
No big whoop. I've had all my holdings in cryptocurrency since late last year.

Oops.
 
2018-02-05 02:19:47 PM  

JohnBigBootay: Markoff_Cheney: My patience waiting for video cards to come back down to reasonable prices is wearing thin.

I think you should hang on just a bit longer...

[img.fark.net image 490x130]


I also look forward to the disappearance of all the clickbaity 'See what this Bitcoin millionaire does with his laundry!  The answer will astonish!'
 
2018-02-05 02:24:28 PM  

Kornchex: The good news is that when if this crypto-currency fad fades, you'll be able to pick up 1080TI's for a song.


Used GPUs that have been used in mining will have been roughed up bad from near continuous use. I wouldn't buy one.
 
2018-02-05 02:27:04 PM  

Markoff_Cheney: JohnBigBootay: Markoff_Cheney: My patience waiting for video cards to come back down to reasonable prices is wearing thin.

I think you should hang on just a bit longer...

[img.fark.net image 490x130]

I also look forward to the disappearance of all the clickbaity 'See what this Bitcoin millionaire does with his laundry!  The answer will astonish!'


I wonder of the german ted talk kid  is 66% less smarmy today. The 19 year old who said if you arebn;t a millionaire at the end of the year it's your own fault. At this point he should be well less than half a millionaire based on his talk.
 
2018-02-05 02:28:50 PM  

naughtyrev: Used GPUs that have been used in mining will have been roughed up bad from near continuous use. I wouldn't buy one.


That's a good point.  I didn't really think about that.
 
2018-02-05 02:30:45 PM  
Dow is down 507 and falling.
 
2018-02-05 02:31:25 PM  
Switched my 401k to bonds last night, after kicking myself for putting it off for one week.
 
2018-02-05 02:31:59 PM  

FlashHarry: Dow is down 507 and falling.


530 now and below 25,000
 
2018-02-05 02:34:48 PM  
Hell even refurbished GTX 780 Ti cards on NewEgg are running $500.  This shiat is bananas.  I can't even afford to build a mid-range machine right now.
 
2018-02-05 02:36:21 PM  
This is all happening now that Trump's economic policies have started to be implemented. Coincidence?
 
2018-02-05 02:36:21 PM  

stovepipe: Hell even refurbished GTX 780 Ti cards on NewEgg are running $500.  This shiat is bananas.  I can't even afford to build a mid-range machine right now.


Seriously - wait a bit. That's definitely going to change.
 
2018-02-05 02:36:35 PM  

Kornchex: The good news is that when if this crypto-currency fad fades, you'll be able to pick up 1080TI's for a song.


But those cards have been running at 100% for their entire life, no way would I ever buy a card that was mined with.
 
2018-02-05 02:36:48 PM  

RoomFullOfMonkeys: Switched my 401k to bonds last night, after kicking myself for putting it off for one week.


I did that last November, missing out on the holiday surge.  But no ragrets.  shiats about to correct hard.
 
2018-02-05 02:37:05 PM  

brainlordmesomorph: I get such schadenfreude when rich people loose a lot of money.


They're not losing money unless they sell for less than they bought.
 
2018-02-05 02:37:38 PM  

nekom: FlashHarry: Dow is down 507 and falling.

530 now and below 25,000


What is causing this, exactly, and how worried should the average person be?   I'll admit I dont follow the stock market too closely.
 
2018-02-05 02:38:21 PM  

BadReligion: This is all happening now that Trump's economic policies have started to be implemented. Coincidence?


Don't do that. I mean Trump needs to be deposed fgor about a zillion  reasons and he has a kindergarden understanding of macroecnomics and he appointed actual meatheads to key economic posts. But the economy is cyclical and the market would have been expensive and overbought regardless of who the president was at the moment.
 
2018-02-05 02:39:17 PM  

JohnBigBootay: BadReligion: This is all happening now that Trump's economic policies have started to be implemented. Coincidence?

Don't do that. I mean Trump needs to be deposed fgor about a zillion  reasons and he has a kindergarden understanding of macroecnomics and he appointed actual meatheads to key economic posts. But the economy is cyclical and the market would have been expensive and overbought regardless of who the president was at the moment.


If he wanted credit for the rise, he's going to have to take credit for the crash.
 
2018-02-05 02:40:18 PM  

stovepipe: RoomFullOfMonkeys: Switched my 401k to bonds last night, after kicking myself for putting it off for one week.

I did that last November, missing out on the holiday surge.  But no ragrets.  shiats about to correct hard.


I've been anxious for the last three months, thinking about when I should pull out. Very nervous the last two weeks. But I tend to second-guess myself a lot, so I didn't act.

I'm not very experienced at all with reading the markets. The question in my mind is whether it's going to drop to pre-Trump levels or not.
 
2018-02-05 02:40:35 PM  
raerae1980:
What is causing this, exactly, and how worried should the average person be?   I'll admit I dont follow the stock market too closely.

What I've heard speculated was that people in the know are expecting the feds to hike interest rates soon and bad news from Apple.  I don't really follow it closely, though my 401(k) would prefer if the market could just farking don't.
 
2018-02-05 02:40:52 PM  

Bowen: JohnBigBootay: BadReligion: This is all happening now that Trump's economic policies have started to be implemented. Coincidence?

Don't do that. I mean Trump needs to be deposed fgor about a zillion  reasons and he has a kindergarden understanding of macroecnomics and he appointed actual meatheads to key economic posts. But the economy is cyclical and the market would have been expensive and overbought regardless of who the president was at the moment.

If he wanted credit for the rise, he's going to have to take credit for the crash.


Not only this, but him releasing the memo is what precipitated this drop.
 
2018-02-05 02:41:13 PM  
i.imgur.comView Full Size


/they sell Dow insurance; you can buy put options, you can hedge against volatility by buying VIX, or you can even go full apocalypse and play with leveraged instruments like UVXY that promise 2x the movement in the underlying index (er, and ignore the effects of decay, which always works against the holder.)
//like all insurance products, the premium you pay typically exceeds the expected return.
 
2018-02-05 02:41:40 PM  

Bowen: JohnBigBootay: BadReligion: This is all happening now that Trump's economic policies have started to be implemented. Coincidence?

Don't do that. I mean Trump needs to be deposed fgor about a zillion  reasons and he has a kindergarden understanding of macroecnomics and he appointed actual meatheads to key economic posts. But the economy is cyclical and the market would have been expensive and overbought regardless of who the president was at the moment.

If he wanted credit for the rise, he's going to have to take credit for the crash.


The thought I was having is he touts the DOW incessantly when it's on the rise - as if he was telling it what to be - I wonder which democratic desire or type of poor person will he blame this burgeoning correction on?
 
2018-02-05 02:41:58 PM  

stovepipe: Hell even refurbished GTX 780 Ti cards on NewEgg are running $500.  This shiat is bananas.  I can't even afford to build a mid-range machine right now.


Pretty much the only place to get a reasonably priced card is to go to a Microcenter.  They quit doing online sales for mid to high range cards and limiting to 1 per customer.  Even with that, the best card in stock right now is that single 1060 6 gig.

img.fark.netView Full Size
 
2018-02-05 02:43:37 PM  

RoomFullOfMonkeys: brainlordmesomorph: I get such schadenfreude when rich people loose a lot of money.

They're not losing money unless they sell for less than they bought.


Every nickel they make selling bitcoin is coming out of the pocket of some poor bastard who thought it was a good investment.

So basically if they don't lose money, they should be strung up.
 
2018-02-05 02:44:19 PM  

RoomFullOfMonkeys: stovepipe: RoomFullOfMonkeys: Switched my 401k to bonds last night, after kicking myself for putting it off for one week.

I did that last November, missing out on the holiday surge.  But no ragrets.  shiats about to correct hard.

I've been anxious for the last three months, thinking about when I should pull out. Very nervous the last two weeks. But I tend to second-guess myself a lot, so I didn't act.

I'm not very experienced at all with reading the markets. The question in my mind is whether it's going to drop to pre-Trump levels or not.


Never pull out. The market will recover and in the meantime your 401k contributions will be purchasing funds at lower prices.
 
2018-02-05 02:44:56 PM  

dv-ous: RoomFullOfMonkeys: brainlordmesomorph: I get such schadenfreude when rich people loose a lot of money.

They're not losing money unless they sell for less than they bought.

Every nickel they make selling bitcoin is coming out of the pocket of some poor bastard who thought it was a good investment.

So basically if they don't lose money, they should be strung up.


I'm talking about the stock market, not bitcoin.
 
2018-02-05 02:44:58 PM  
fortunedotcom.files.wordpress.comView Full Size

I will bring about a market correction the likes of which the world has never seen.  MAGA- Making Assets Go Away, bigly.
 
2018-02-05 02:45:31 PM  

FlashHarry: Dow is down 507 and falling.


It's almost like the business world woke up and realised Trump was president.
 
2018-02-05 02:47:58 PM  

Markoff_Cheney: stovepipe: Hell even refurbished GTX 780 Ti cards on NewEgg are running $500.  This shiat is bananas.  I can't even afford to build a mid-range machine right now.

Pretty much the only place to get a reasonably priced card is to go to a Microcenter.  They quit doing online sales for mid to high range cards and limiting to 1 per customer.  Even with that, the best card in stock right now is that single 1060 6 gig.

[img.fark.net image 800x590]


Thanks for that.  Looks like my closest store is 3 hours away in Atlanta.  Might be worth it later on if we happen to be down that way.
 
2018-02-05 02:48:11 PM  

raerae1980: nekom: FlashHarry: Dow is down 507 and falling.

530 now and below 25,000

What is causing this, exactly, and how worried should the average person be?   I'll admit I dont follow the stock market too closely.


Garden variety bubble popping. Been long overdue. Interest rates and bond yields have nowhere to go but up, which will force companies to think twice before issuing debt to fund share buybacks.

As to how worried you personally should be? IDK, I assume you won't retire for a while, so this could be a chance for you to buy in at the bottom of a cycle and ride it up. I can't say how low this is going to go. I thought the market was frothy even before the "Trump Bump" so in my opinion, if the DJIA went down another 5-10 thousand points over the next few weeks / months, I wouldn't be floored. I'd lose some money, but not much.
 
2018-02-05 02:50:14 PM  

RoomFullOfMonkeys: stovepipe: RoomFullOfMonkeys: Switched my 401k to bonds last night, after kicking myself for putting it off for one week.

I did that last November, missing out on the holiday surge.  But no ragrets.  shiats about to correct hard.

I've been anxious for the last three months, thinking about when I should pull out. Very nervous the last two weeks. But I tend to second-guess myself a lot, so I didn't act.

I'm not very experienced at all with reading the markets. The question in my mind is whether it's going to drop to pre-Trump levels or not.


Back in 2007 I wet my pants and pulled everything out of the market when the Dow was around 13k. I then watched it fall to well below 7000 - and rise back up to 13k again before I summoned the courage to jump back in.

So now I pretend nothing is happening.
 
2018-02-05 02:51:02 PM  
-620 now!
MAGA!
 
2018-02-05 02:52:05 PM  
Biggest factor in markets is confidence.

Perhaps, a lot of Americans are realizing that a confidence man is moving the market.
 
2018-02-05 02:54:25 PM  

Markoff_Cheney: My patience waiting for video cards to come back down to reasonable prices is wearing thin.


I had been hearing video card prices were high and I checked the other day. They were the same price as 2 years ago when I last bought one. Of course the cards themselves have gotten better, but the base prices were the same.
 
2018-02-05 02:55:22 PM  

stovepipe: Markoff_Cheney: stovepipe: Hell even refurbished GTX 780 Ti cards on NewEgg are running $500.  This shiat is bananas.  I can't even afford to build a mid-range machine right now.

Pretty much the only place to get a reasonably priced card is to go to a Microcenter.  They quit doing online sales for mid to high range cards and limiting to 1 per customer.  Even with that, the best card in stock right now is that single 1060 6 gig.

[img.fark.net image 800x590]

Thanks for that.  Looks like my closest store is 3 hours away in Atlanta.  Might be worth it later on if we happen to be down that way.


A friend clued me in over the weekend.  I am debating running there after work.... tax return money is burning holes in everything.
 
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