3,296 and falling. Haven't seen one of those 5%+ down days since March, but covid now is like March all over again, but worse. Might see 3,230 this afternoon. Funny thing is historical average has Oct. 28 as the single best trading day return of the year.
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Fukking mitchComment -
we are trading right near we closed on the SPX index on 7/31/2020 which would indicate a toss up:
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Fracking plays, pipelines and crude storage plays getting absolutely mauled on fears of Dems.Comment -
Biden no effect.
But if Dems take the senate then stocks have to be repriced down 15% which we are in the middle of.
If Dems set forth to destroy the country with court packing, adding states, arresting Trump & riots we will definitely see a total collapse. Over 50%.
I personally think if dems win they will look to '22 and we will not see them try to destroy the country.Comment -
obviously it depends on where your looking to buy. the supply in the poconos is down 50% at this same time last year because of all of the housing sales occurring. where as you go to manhattan right now you are going to get a bargain compared to 18 months ago.
are people over paying yes, its actually crazy that a house was listed for 4 hours and had 10 bids on it. im going to assume it went for at least 30k over asking.
i do think your right it can/ will hurt some people but when your buying for the most part between 175 - 300k you might take a loss but your not going to get the crash of 2009 againComment -
especially in an area like the poconos its a year round vacation spot. can air bnb or month to month rental thereComment -
DOW JONES DOWN OVER 900 POINTS. MY 401K TAKING A penetrating BEATINGComment -
Mom staying at home and taking care of home and kids is LONG gone. Most households are dual income if not the woman being the primary breadwinner. This will not set well with working women.
Much as I may agree or disagree Biden is our next president and likely Kamala once they institutionalize him for dementia.Comment -
I don't trade like many of you guys. And I know I'm breaking all the technician's rules but I couldn't resist the urge to buy (gold and tech). Only put 30% of available funds in play in case the market falls further.
Good luck to all.Comment -
That's like saying the 6 comes up first in the lotto most of the time.
It's meaningless.
You would have to break it down by who controls congress. Obama had a good last 6 years because real Americans controlled both houses and he never passed anything during that time not even a budget.Comment -
biden and pelosi are big business democrats. they aren't going to do anything that harms the oil and gas industry. they will stop legislation that is too radical. I am comfortable with them being in charge.
the worst thing they will do is raise the capital gains tax and marginal tax rate for the 1-5%, which is fine, and to be fair the capital gains tax is the biggest slap in the face to middle americans. the capital gains tax will suck, but it does incentivize to take profits before a year is up which could create a more active trading market.Comment -
This is all GOP Senate fault. Adjourning without passing a bill the stockmarket needs to stay afloat.Comment -
no, i mean if you hold for less than a year, you are taxed at your marginal tax rate. anecdotally, i am long amazon, NOW, and a few others that i bought after the market crash that i would have sold and taken some profits, after they have gone up 30% but it being less than a year, i am holding them because i want the better tax rate.
i have been using my IRA for all of my option trading because the premium i get for sell the options aren't taxable this year.Comment -
if there is no 15% tax rate for capital gains, then it reduces the incentive to hold for longer than a year.Comment -
Not knowing the amount of time you plan on keeping these stock plays but why let that stop me. The gold will bounce back as in March when the selloff happened, Gold was a leading sector back up. Then again I don't see any inflation on the horizon so Gold may be down to the $1800 level for a while before kicking in.
Tech on the other hand is under pressure for a while and there has been some rotation out of that sector. Of course if your looking at 5+ years, I don't think it matters much, but you will probably find more opportunity to come in tech for a while.Comment -
As a technical player I don't think any of this news is the cause of anything. They are just the catalyst. I could see a pullback coming, and said so a few weeks ago. Well I believe that the Snowballer posted it first, and I immediately agreed with him/her. You can see it in the charts that a pullback was on the way. The SPY is at a level now that may hold. Of course I thought that at 339.30, and now it is at 326.66 which ha some technical reasons to be supportive in this area. It may hold, and then again it may drop down some more, it is hard to tell. At this point I think it is going down further than the pullback in September, maybe on its way to 300. That happens to be the level Snowball speculated about and I couldn't disagree with him / her, but thought that it was unlikely at the time the market dipped that low.Comment -
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Well then why didn't tards vote for it and put him on the spot Einstein?
Hopefully, you're smarter than that.
Tards completely lost the opportunity to provide relief because they were terrified Trump might get a little credit. Dems care about power, fvvk the American people. That half a trillion would have gone a lonnnnng way.Comment
