401 K took a beating!

*L* What does that mean ? Good observations of the market. Remember some folks are approaching retirement age and others have 30 years till retirement.
 
If the market reacts to every new virus case … I suspect the insiders are already good at making that into an opportunity
 
I'm within 5 years of retirement, hitting 66 in 2 years. I was a bit upset a few months ago when my YTD growth was only 15% compared to a lot of you guys getting well over 20%. I attributed that to beginning to change my TIAA CREF portfolio to safer allocations about two years ago. I reluctantly looked at my portfolio just now and was pleased to see only a 2.5 % loss. I am meeting with my TIAA CREF consultant this week to determine what the next move is. I agree with most above. Don't panic. Use this as a learning experience to guide you in the future. Don't fall for those claiming they are out witting the system.
 
Originally Posted by alarmguy
Originally Posted by Snagglefoot
Originally Posted by RedOakRanch
Nothing to worry about yet, all the recent losses have only taken us back to the levels of about 5 months ago. This is a great opportunity to buy in on the way down.
Hello. The Dow Jones is 25,409. The first time it hit that was Jan, 12, 2018, more than 2 years ago. My read is that two years of gains have been wiped out. smile
On March 4 2019 the Dow Jones was 25,450 and 25 cents On Feb 28th 2020 the Dow Jones was 25,409 and36 cents (pretty darn close) Lets take it a step further on May 27th 2019 (only 9 months ago) the Dow Jones was 24815.04 Fridays close of 25,409 on Feb 28th 2020 makes the Dow Jones still 594 points (and 32 cents) higher then just nine months ago. I dont consider this a big crash like mass media makes it sound. So to simplify (sometimes I lose myself in my thoughts*L*) as of Friday 2/28/20 the stock market is 594 points (and 32 cents) higher then it was 9 months ago on 5/27/19 This recent market advance truly was a very short term 10% recent climb over less then a year and the recent decline brings us back to that level, which is more like 9 months loss rather then the year I previously said. Not bad at all. smile
Yeah, but who buys the Dow? It's usually the S&P 500 that's a good indicator or the Nasdaq. I just checked, S&P 500 is knocked back to about October of last year, I'm back down to November. It was a pretty good run up in the last couple of months.
 
Nobody knows at this point the direction the Coronavirus is going to go ... but experts think there will be more worldwide spreading even with the testing, quarantines, etc precautions. If it keeps getting worse, then they say "social spreading" will increase which means people stay away from malls, movies, games, concerts, public transportation, schools, daycare, etc, etc. All of that will definitely impact the economy, because it you can't make and sell goods then the economy will be effected. In today's world, the economy of all countries is tied to other countries, so all of these country's economy go up and down together. Time will tell, but IMO the stock market isn't going have an instant/short term bounce back like it has on some previous short term "scares".
 
Originally Posted by ZeeOSix
Nobody knows at this point the direction the Coronavirus is going to go ... but experts think there will be more worldwide spreading even with the testing, quarantines, etc precautions. If it keeps getting worse, then they say "social spreading" will increase which means people stay away from malls, movies, games, concerts, public transportation, schools, daycare, etc, etc. All of that will definitely impact the economy, because it you can't make and sell goods then the economy will be effected. In today's world, the economy of all countries is tied to other countries, so all of these country's economy go up and down together. Time will tell, but IMO the stock market isn't going have an instant/short term bounce back like it has on some previous short term "scares".
Exactly, this isn't some typical or even mid term scare, this is a long term situation that might go on for years! The bottom line is that China which supplies most of the hard goods in the global economy today is CLOSED for business and we don't know when or if they will ever come back as we knew it. I think by late next week we will know, I hate to say it but I see a complete crash, as more and more people realize the gravity of the situation.
 
Originally Posted by ZeeOSix
Nobody knows at this point the direction the Coronavirus is going to go ... but experts think there will be more worldwide spreading even with the testing, quarantines, etc precautions. If it keeps getting worse, then they say "social spreading" will increase which means people stay away from malls, movies, games, concerts, public transportation, schools, daycare, etc, etc. All of that will definitely impact the economy, because it you can't make and sell goods then the economy will be effected. In today's world, the economy of all countries is tied to other countries, so all of these country's economy go up and down together. Time will tell, but IMO the stock market isn't going have an instant/short term bounce back like it has on some previous short term "scares".
Exactly, this isn't some typical or even mid term scare, this is a long term situation that might go on for years! The bottom line is that China which supplies most of the hard goods in the global economy today is CLOSED for business and we don't know when or if they will ever come back as we knew it. I think by late next week we will know, I hate to say it but I see a complete crash, as more and more people realize the gravity of the situation. That being said I truly wish I am 100% wrong, but I don't think so. eek
 
Originally Posted by AC1DD
That being said I truly wish I am 100% wrong, but I don't think so. eek
Let me guess, you believe in this so much that you had to post it twice?
 
I'm not trying to time the market, just opened my eyes to some bad economic news before the CV hit and was selling back in Oct - Dec. I did my taxes on Saturday and had some very nice gains due to a few leveraged , technology and growth ETFs. I'm glad I took profits and now some of it is paying for those long term capital gains taxes. frown
 
Originally Posted by Wolf359
Originally Posted by AC1DD
That being said I truly wish I am 100% wrong, but I don't think so. eek
Let me guess, you believe in this so much that you had to post it twice?
Edit time probably ran out.
 
Originally Posted by Mr Nice
Originally Posted by Wolf359
Originally Posted by AC1DD
That being said I truly wish I am 100% wrong, but I don't think so. eek
Let me guess, you believe in this so much that you had to post it twice?
Edit time probably ran out.
Second post was just one minute after the first.
 
Two threads locked or deleted yesterday due to people not being able to control themselves in regards to commenting on this virus. People either won't or can't learn.
 
Originally Posted by kschachn
Two threads locked or deleted yesterday due to people not being able to control themselves in regards to commenting on this virus. People either won't or can't learn.
Not to mention the one that was first started when news of it first came out. Anyway looks like the futures market is up right now. Of course that doesn't mean anything as things can easily change from hour to hour. Could be the dead cat bounce or happy days could be here again.
 
Originally Posted by Wolf359
Originally Posted by AC1DD
That being said I truly wish I am 100% wrong, but I don't think so. eek
Let me guess, you believe in this so much that you had to post it twice?
I'm not sure what happened with that, I didn't intend to have it post twice, maybe a mod can delete one of them, I looked for the edit and delete button and I can't get rid of one.
 
Originally Posted by Wolf359
Originally Posted by Mr Nice
Originally Posted by Wolf359
Originally Posted by AC1DD
That being said I truly wish I am 100% wrong, but I don't think so. eek
Let me guess, you believe in this so much that you had to post it twice?
Edit time probably ran out.
Second post was just one minute after the first.
Yes, I'm not sure what happened in this case it wasn't my intention to double post at all. Maybe a mod can delete one. Thanks
 
Originally Posted by AC1DD
Originally Posted by Wolf359
Originally Posted by Mr Nice
Originally Posted by Wolf359
Let me guess, you believe in this so much that you had to post it twice?
Edit time probably ran out.
Second post was just one minute after the first.
Yes, I'm not sure what happened in this case it wasn't my intention to double post at all. Maybe a mod can delete one. Thanks
Touche! LOL
 
Originally Posted by kschachn
Two threads locked or deleted yesterday due to people not being able to control themselves in regards to commenting on this virus. People either won't or can't learn.
I don't know why the Mods won't allow talk about the coronavirus ... it's something that's going on and it's not political, etc. It's a real thing going on, and people should talk about it.
 
Futures have flipped to negative. A second death in the Seattle area plus several in critical condition.
 
Originally Posted by Mr Nice
2 possible new cases in FL.
There are lots of cases in FL. FL hasn't been testing anyone. Most people also have very mild to no symptoms.
 
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