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Yup. And having seen big moves in the 00s and 10s I'm not panicked. If anything, I only start to get a bit more interested/concerned when the overnight futures tank hard like last night .... but even then, I don't run to sell b/c I hold good stuff, so I'm often looking to buy.
A 600-point move in the Dow back in '08 was unheard of and indicative that the sky is falling ... these days, it's like, no big deal.
@rforno : Wouldn't one have to take into consideration the % of total drop & not so much the number (600) ? Band aids don't seem to be holding back the flow of blood, I'm calling for a tourniquet ! With the summer season in progress I've decided to put the dry powder on hold, unless another 10 % drop .
@rforno : Wouldn't one have to take into consideration the % of total drop & not so much the number (600) ? Band aids don't seem to be holding back the flow of blood, I'm calling for a tourniquet ! With the summer season in progress I've decided to put the dry powder on hold, unless another 10 % drop .
Dippers beware, Derf
Agreed. The points are less important than the percentage,but still, it's not often you hear a 600 or 800 POINT drop on the Dow, which to some can sound more dramatic than a "3%" drop ... which probably is why most media use the points, b/c it's scarier-sounding.
Yes. Sorry. Did not mean to implicate the entire market. The NASDAQ is what got hammered. It was the hottest sector. And the internet related stocks inside the NASDAQ is where people had been speculating wildly in the late 90s.
Guess I was thinking more of ARKK. In one recent year it soared over 150%. That’s hot. So if a 60% drop from recent highs looks inviting, … maybe it is a good bet. But maybe it isn’t. Also, I was tempted to throw a bit into Price’s Blue Chip (TRBCX). But noted it also had a very huge run up over a recent 4-5 year period. Gave me pause. Not saying it’s still overvalued - just that even at today’s 35-40% off, it may not be as “cheap” as might first appear. Not qualified to give advice. Just sharing my personal take on where things are.
Today I bought back into DKNG. - Bought in at under $12 having unloaded it (small loss) for close to $15 a couple weeks ago. Also added to GLTR which is down hard today - a bet on precious metals …
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A 600-point move in the Dow back in '08 was unheard of and indicative that the sky is falling ... these days, it's like, no big deal.
Now, think about where the S&P 500 was treading water the last time inflation was this bad?
Band aids don't seem to be holding back the flow of blood, I'm calling for a tourniquet !
With the summer season in progress I've decided to put the dry powder on hold, unless another 10 % drop .
Dippers beware, Derf
Guess I was thinking more of ARKK. In one recent year it soared over 150%. That’s hot. So if a 60% drop from recent highs looks inviting, … maybe it is a good bet. But maybe it isn’t. Also, I was tempted to throw a bit into Price’s Blue Chip (TRBCX). But noted it also had a very huge run up over a recent 4-5 year period. Gave me pause. Not saying it’s still overvalued - just that even at today’s 35-40% off, it may not be as “cheap” as might first appear. Not qualified to give advice. Just sharing my personal take on where things are.
Today I bought back into DKNG.