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The Closing Bell: Nasdaq Drops 2.9%, Dow Falls More Than 300 points As Tech Shares Roll Over
"This extreme action, day after day is totally nuts."
@Crash- Nuts? No, I don't see that. Look, we're in the late, if not final, stages of a very long runup. At this point, balanced as if on a see-saw, and at that balance point it doesn't take a whole lot to push things one way or the other. There's still maybe a little life left in the bull to push up. There's a whole lot of things coming together to push down. Throw in automated trading algorithms that have never been present before in such magnitude and what do you expect?
My own investing history goes back only as far as 2003. 15 years. The bull is long in the tooth. I had figured that uncle Donald's cukoo-nuts pronouncements were the MAIN factor in this topsy-turvy market, currently. Politics, not fundamentals. But the market has been disconnected from fundamentals for quite a while, it must be said. Don't mind me, I'm just typing out loud.
With tech under fire, the market is looking for leadership (or perhaps savior). Today, that leadership was provided by utilities, telecoms and other divi payers. Shades of 2011.
No recession in sight, is there? I'm as wary of the mad child in the White House as anyone, but if the market continues to fall, gets rid of some of that overvaluation, it could be time to buy soon.
And yet... the bitcoin bubble popping, the revelation of fraud in a big company (Theranos), this all feels like a top to me.
@expatsp, I'm going to go with there is much more probability of down side than up. I'm no expert, but I personally wouldn't add anything right now... except for CDs.
As far as I'm concerned, if the market is going to drop 10, 15, 20%, let it happen asap. This is playing mind games on my retirement thinking.
I am at the highest level of bond & cash in recent years. Don't see outstanding upside. More risk today with possible war with John Bolton on board. Remember Dick Cheney? Trade war is another.
Comments
https://finance.yahoo.com/news/dow-may-already-bear-market-185419194.html
@Crash- Nuts? No, I don't see that. Look, we're in the late, if not final, stages of a very long runup. At this point, balanced as if on a see-saw, and at that balance point it doesn't take a whole lot to push things one way or the other. There's still maybe a little life left in the bull to push up. There's a whole lot of things coming together to push down. Throw in automated trading algorithms that have never been present before in such magnitude and what do you expect?
And yet... the bitcoin bubble popping, the revelation of fraud in a big company (Theranos), this all feels like a top to me.
Don't know. Guess I'll sit tight.
As far as I'm concerned, if the market is going to drop 10, 15, 20%, let it happen asap. This is playing mind games on my retirement thinking.