Anybody Buying Yet? Where’s the Bottom?
- Thread starter NEWHunter
- Start date
NEWHunter
Well-known member
Well guys, when I started this thread almost a month ago, I thought Coronavirus was going to be a temporary thing - a slight market disruption that would result in a dip and buying opportunity - not a recession. Hence the subject, “anybody buying yet.” Well, clearly I was wrong. This is a big deal and while certainly a buying opportunity at some point, I think the best days to buy are likely ahead.
Given the aforementioned premise, I thought folks might like to add to the discussion and talk some about what will trigger you to start buying and when you think that might be - the reason for the addition “where’s the bottom.”
Given the aforementioned premise, I thought folks might like to add to the discussion and talk some about what will trigger you to start buying and when you think that might be - the reason for the addition “where’s the bottom.”
Keep your political shit out of this thread or it will not end well for you, this thread is for what it is titled as.
These threads don't benefit from comments such as this. Take them to your Facebook page. They are not helpful here.
ShootsManyBullets
Well-known member
We're nowhere near the end of this thing. Expect a few pump fakes along the way.
that's my worry. I fear 15k is possible for the DOW
thusby
Well-known member
Why wait for a bottom? If you have long enough to recover, then you would be better off to just ride the slope down and back up again.
redwoood
Well-known member
This is my philosophy on some stocks.
Put a bit in and wait and see...then double down if it tanks again.
stealthy_bowman
Well-known member
Agree with this. No one can predict the bottom. I’m 15 years on the long side and I’m just continuing with this similar strategy.
SAJ-99
Well-known member
The latest estimate I saw was we have taken $20Trillion off of the values in global equities. That doesn't count corporate bonds, which are down as a group too. I wonder if the "cure" for the virus is sustainable. A hard stop on the global economy has never been seen before. Can we really keep it up for 30-60 days?
If involved, why watch the loss for anticipation to see it recover? Vs sell (vs lose) and buy when at bottom of when it starts to recover? This is speaking for those more involved.
Anyone think today could be the first false pump? Call me crazy, but as a person caught a little off guard and have too much in the market this close to retirement I really wonder if taking my lumps today wouldn't be that terrible. Even more so if looking to do some bottom feeding in a few weeks or months. I think some stocks may have bottomed but others I think will feel the longer term effect in months to come. Again, I am no pro, but the pro's feed a lot of false info to protect their own portfolio. They all say hold hold hold, but when the dow sheds 12,000 someone is selling.... Edit, this would not be the first false pump, the first was 1.5 weeks ago
Southern Elk
Well-known member
Looks like today is going to be a good day. I hope we saw the bottom yesterday, but I doubt it.
LousyResident
Well-known member
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I'm not an expert by any stretch either, but I'm thinking something similar. I have a few holdings that are actually positive overall today (although much, much less than earlier this year) and I'm thinking of cashing them out if this stimulus passes. I think we'll see a big jump initially but more shedding in coming weeks. I'd like to have some cash on hand to do some buying if it falls again. Worst case scenario, I miss out on some gains over the next couple days if it keeps going up before I buy again.
SAJ-99
Well-known member
Who really knows? We have never seen anything like this before. Usually during a recession the market will have multiple "false start" rallies, up 10-15%, but recessions are backward looking and by definition are two quarters not one month. The last month has been unprecedented, and simply amazing. Every person's situation is different, but the key date is not the retirement date but the date you die. Hopefully that estimate is a ways out, but it allows you to take more risk. You just have to figure out how much income you will need to generate in your portfolio.
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