Dow Nearing 30K. Time For You To Jump Off?
POSTED BY: JEWELSTAITEFAN
UPDATED: Saturday, September 28, 2024 08:52
VIEWED: 9969
PAGE 5 of 12
You don't work. You don't have any money.
Whatever dude.
Do Right, Be Right. :)
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i sold a bunch of stocks back in March. The Dow had just gone from 30,000 to 18,000 in less than two weeks. Days later I was feeling pretty good about the decision I made to take a reasonable loss and stop what could have been a catastrophic loss. But as the Markets have since FULLY rebounded in only eight months I find myself realizing I panicked and did the wrong thing in March by selling. Oh well, sometimes you guess wrong. And to top it off with a cherry on top, CD rates have recently crashed, so there's almost no place left that's safe to earn any sort of substantial interest. May 2021 will mark 10 years since I retired. It's truly been wonderful not working, just enjoying living, although this year of the pandemic has kinda sucked.
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Quote:
Originally posted by Jongsstraw:
i sold a bunch of stocks back in March. The Dow had just gone from 30,000 to 18,000 in less than two weeks. Days later I was feeling pretty good about the decision I made to take a reasonable loss and stop what could have been a catastrophic loss. But as the Markets have since FULLY rebounded in only eight months I find myself realizing I panicked and did the wrong thing in March by selling. Oh well, sometimes you guess wrong. And to top it off with a cherry on top, CD rates have recently crashed, so there's almost no place left that's safe to earn any sort of substantial interest. May 2021 will mark 10 years since I retired. It's truly been wonderful not working, just enjoying living, although this year of the pandemic has kinda sucked.
Sorry to hear that man...
I did very well in the stock market back when I was younger, but all it took was losing my ass on one individual purchase to realize that I don't really know shit and I was just extremely lucky and the beneficiary of being at the right place at the right time. So since then, the only money I've ever had in the market was putting 401k contributions that were 100% matched by the company in the lowest risk fund I could, and then transferring them over to my zero risk holdings in the IRA when I wasn't working there anymore.
My single investment is my house, and IMO, it's the place where I have the potential for the greatest return. If the market just totally tanks forever, then we're all up shit's creek. But in the mean time I'm currently living in a much nicer place than I had this time a year ago and at hardly any cost other than my time and labor. This investment is further bolstered by having the time to only buy materials when they're on great sales or clearanced out. So far in the last year I'd estimate that I've only spent around $3,000 on the house, but at full price it would have been closer to $9,000 in materials. Labor for the work done so far would have easily cost me $25,000 or more if I paid somebody else to do it all.
So if the market crashes and we're all screwed, I still have a virtually free place to live that is much nicer than it used to be. If the housing market is fine when I go to sell the house, I have a good chance of tripling my initial investment before I move down south near my brother and downsize into a much more manageable single story home with a really nice nest egg where I can spend the rest of my days tinkering in my garage with my toys and making a bunch of cool shit.
Do Right, Be Right. :)
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Quote:Here's the book for you about the stock market: The Man Who Solved the Market
Originally posted by 6IXSTRINGJACK:
You don't work. You don't have any money.
Whatever dude.
Why did Simons abandon a highly successful career doing research mathematics in order to focus on making as much money as possible?
https://www.math.columbia.edu/~woit/wordpress/?p=11455
Quote:Download the book for free: https://libgen.unblockit.app/search.php?req=Gregory+Zuckerman
In the historical evaluation of whether the world would have been better off with or without RenTech, the fact that RenTech money may have been a determining factor in bringing Trump and those around him to power is going to weigh heavily on one side.
The Joss Whedon script for Serenity, where Wash lives, is Serenity-190pages.pdf at www.mediafire.com/folder/1uwh75oa407q8/Firefly
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Today Dow closed at 29,910. That is the 3rd highest Close in history.
S&P 500 closed at 3,638. That seems to be a new Record All-Time High.
NASDAQ closed at 12,205. That is a new Record All-Time High.
Just for reference, the current Top Dow Closes:
1. 30,046 24 November 2020.
2. 29,950 16 November 2020.
3. 29,910 27 November 2020.
4. 29,872 25 November 2020.
5. 29,783 17 November 2020.
6. 29,591 23 November 2020.
7. 29,551 12 February 2020.
8. 29,483 19 November 2020.
9. 29,479 13 November 2020.
10. 29,438 18 November 2020.
11. 29,423 13 February 2020.
12. 29,420 10 November 2020. Legal challenges against Election Fraud gearing up.
13. 29,398 14 February 2020
14. 29,397 11 November 2020.
15. 29,379 6 February 2020.
16. 29,348 17 January 2020.
16. 29,348 19 February 2020.
18. 29,297 16 January 2020.
19. 29,290 5 February 2020.
20. 29,276 10 February 2020.
20. 29,276 11 February 2020.
20. 29,263 20 November 2020.
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Quote:This makes me sad.
Originally posted by Jongsstraw:
i sold a bunch of stocks back in March. The Dow had just gone from 30,000 to 18,000 in less than two weeks. Days later I was feeling pretty good about the decision I made to take a reasonable loss and stop what could have been a catastrophic loss. But as the Markets have since FULLY rebounded in only eight months I find myself realizing I panicked and did the wrong thing in March by selling. Oh well, sometimes you guess wrong. And to top it off with a cherry on top, CD rates have recently crashed, so there's almost no place left that's safe to earn any sort of substantial interest. May 2021 will mark 10 years since I retired. It's truly been wonderful not working, just enjoying living, although this year of the pandemic has kinda sucked.
On 17 March my state went into Lockdown, and I was unable to post here.
If I had been able to post here, I wanted to post a reminder of the obvious Gift Horse Buying Opportunity with the Dow drop. Although I was unable to do so, I hoped that the numerous times previously that I had posted the same thing for those who had read the other thread.
Now I am proven wrong, and my posting the same thing repeatedly in the past did not sink in.
Can you tell us why you wanted to sell at the lowest price? Your input could help others understand in the future.
It sounds like you liquidated your stocks, not just switching to a different stock. Did you keep the money within the Tax-Deferred/protected environment, or pay the penalties?
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Quote:
Originally posted by second:Quote:Here's the book for you about the stock market: The Man Who Solved the Market
Originally posted by 6IXSTRINGJACK:
You don't work. You don't have any money.
Whatever dude.
Why did Simons abandon a highly successful career doing research mathematics in order to focus on making as much money as possible?
https://www.math.columbia.edu/~woit/wordpress/?p=11455Quote:Download the book for free: https://libgen.unblockit.app/search.php?req=Gregory+Zuckerman
In the historical evaluation of whether the world would have been better off with or without RenTech, the fact that RenTech money may have been a determining factor in bringing Trump and those around him to power is going to weigh heavily on one side.
The Joss Whedon script for Serenity, where Wash lives, is Serenity-190pages.pdf at www.mediafire.com/folder/1uwh75oa407q8/Firefly
Nah. I got everything I ever wanted or needed out of the DOW already.
I get the feeling that I'm the poster here with the least income... possibly by far. But you never hear me bitching about cash flow.
Do Right, Be Right. :)
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'Hunger Like They've Never Seen It Before': US Food Banks Struggle as 1 in 6 Families With Children Don't Have Enough to Eat
"We're now seeing families who had an emergency fund but it's gone and they're at the end of their rope," said one Texas food bank director.
https://www.commondreams.org/news/2020/11/27/hunger-theyve-never-seen-
it-us-food-banks-struggle-1-6-families-children-dont-have
According to Feeding America, the largest hunger relief organization in the U.S., more than 50 million people will experience food insecurity by the end of the year. Among U.S. children, the figure rises to one in four. The group, which runs a network of some 200 food banks across the nation, says it distributed over half a billion meals last month alone, a 52% increase from an average pre-pandemic month.
The latest U.S. Census Bureau pandemic survey, published earlier this month, found that fewer than half of U.S. households with children were "very confident" they could afford to provide enough food for their families in the next month.
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^ Nancy Pelosi's fault. For 6 whole months now too.
Maybe she should crack open that $24,000 refrigerator of hers and start handing out her Dove bars to her constituents.
Do Right, Be Right. :)
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