redline248 said:

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could someone tell a noob what the 4 digit number represents, in regards to a "bounce?"

2750
2822

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We're looking at the SPX value and trying to determine where support will be. Today, we got down to 2822 and then came back hard (up to 2850 now). 2750 was the last downturn/correction and the markets bounced there and then ran for a week straight...so it's a key hold if we get down there again

ROKU green

I don't have any faith in this afternoon rebound

Thanks, Irish and gougler

pacecar02 said:

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I don't have any faith in this afternoon rebound

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You know Trump is going to tweet sometime this week that he and Xi talked and have scheduled a meeting in September and the tariffs are suspended until the meeting....or at least that's my hope.

I didn't rebalance anything and I feel that it's too late. Just gonna sit back and put as much as I can in what I perceive as the bounce.

Aggie_2463 said:

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gougler08 said:

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So 401k question...if I do just want to move it all to cash for now, do I just sell the investment (I use Fidelity)?

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My fidelity 401K we have like 26 funds to choose from, at the end of the day prior to 3 pm I just go in an reallocate my investments to 100% Bond fund (Pretty much like cash)... but you can only move between funds every 30 days minimum. So if you do it today, it be 30 days until you are suppose to be able to re-allocate it to another fund. I did it less than that before and got a warning.

So I have had mine in a bond fund for about 1.5 months already waiting for this correction.

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I think most 401K rules keep you from selling out of one fund and then getting back into that same fund within 30 days. I think most are fine if you sold your S&P Index fund to go to a bond fund and then got back into a different fund in less than the 30 days. You should check on that.

If you aren't selling something soon, the current price is not relevant.

My crux is when the dip is the dip, as I've got some dry powder. I went ahead and put 20% of my dry powder in this afternoon, but I'm hoping for some more masking of teeth to get the rest in.

Bob Knights Liver said:

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Aggie_2463 said:

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gougler08 said:

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So 401k question...if I do just want to move it all to cash for now, do I just sell the investment (I use Fidelity)?

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My fidelity 401K we have like 26 funds to choose from, at the end of the day prior to 3 pm I just go in an reallocate my investments to 100% Bond fund (Pretty much like cash)... but you can only move between funds every 30 days minimum. So if you do it today, it be 30 days until you are suppose to be able to re-allocate it to another fund. I did it less than that before and got a warning.

So I have had mine in a bond fund for about 1.5 months already waiting for this correction.

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I think most 401K rules keep you from selling out of one fund and then getting back into that same fund within 30 days. I think most are fine if you sold your S&P Index fund to go to a bond fund and then got back into a different fund in less than the 30 days. You should check on that.

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Ah, good to know. Thanks!

gougler08 said:

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ROKU green

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A big after hours candle on the SPY

shiphunt said:

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claym711 said:

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This isn't a Trump tweet tariff drop.

Every time since feb 2018 we have reached highs, range collapses, and we correct hard. There's def quant markers you can find that volatility is about to explode.

Listen to what Jerome said in October and the other day. Market will rip off faces at any mention of QT.

Trump tweets are generally an opportunity to countertrade the first move.

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I'll let you guess what that arrow is[url=//imgur.com/XYknpCu][/url]

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Go check out other dates and the following days Trump announced tariffs - or days where he tweeted about 'progress'. Market didn't dump 6% in 4 days over this.

Idk man, China devaluing and also cancelling ag purchases. They may not be in a mood to talk.

Also, you hear anything else on the pork front? Saw on the latest Eastman conference call that they took a little hit as well on the animal industry side. Weird to see the ripples all the way out to chemicals/materials.

Are we in turmoil yet?

Prognightmare said:

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9-10% off the highs

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Thanks, will keep an eye on it with that in mind and see what it does over the next couple days.

I'm riding spy puts on the way down

Tomorrow looks like it might be a continuation of the bloodbath today. It looks like I was a little early on my bottom fishing.

U.S. Stock Futures
S&P
-41.85 / -1.48%
Level
2,788.25
Fair Value
2,844.50
Difference
-56.25
Data as of 6:13pm ET
Nasdaq
-123.00 / -1.67%
Level
7,262.25
Fair Value
7,423.09

Difference
-160.84

Data as of 6:13pm ET
Dow
-412.00 / -1.61%
Level
25,138.00
Data as of 6:13pm ET

US Treasury just labeled China a currency manipulator.

Dow futures (implied opening) down 500. This is a full blown correction my friends. If you're in a cash position, hold your fire for now. However, stay vigilant because when it turns it will turn fast. Read this board and anyone else that you respect on social media. If you're on margin, sell what you can to prevent a margin call or it could really hurt you. If you're in calls, depending on the month, you might be screwed. This isn't hyperbole and do with it what you will. this is Just My Opinion but I've been through it many times. Good luck to all and Gig'em.

Prognightmare said:

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Dow futures (implied opening) down 500. This is a full blown correction my friends. If you're in a cash position, hold your fire for now. However, stay vigilant because when it turns it will turn fast. Read this board and anyone else that you respect on social media. If you're on margin, sell what you can to prevent a margin call or it could really hurt you. If you're in calls, depending on the month, you might be screwed. This isn't hyperbole and do with it what you will. this is Just My Opinion but I've been through it many times. Good luck to all and Gig'em.

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I put 25% of mine back into mutual funds today, left other 75% in bonds. Looks like I'll be waiting a few more days to put some more in with this continuation down.

Depending on how much you're looking to put to work. You might be better served using that money on a few individual stocks for some huge returns down the road. Think back to the market capitulation on 12/26/18. There is about to be a fire sale of some great stocks and they will outperform the overall market indices following this correction. JMO.

I'd wait for the market to capitulate before I put more money to work. If tomorrow's futures hold or get worse there will be significant margin calls that will be met by selling more stock thus creating more selling pressure. This combined with short sellers could create a violent and chaotic selloff. JMO. 75% of your funds in safe vehicles right now make your position very envious by many many people. Good job.

You know it's bad when CNBC breaks from primetime bs programming for a "market turmoil" segment. These usually happen at the bottom of a correction so they may be a little early.

Or right on time!

Hit the Irish whiskey my brother. I'm not sure we're near the bottom, but these gap downs will get us there very fast.

OK, Cramer is on there saying he likes gold stocks so we might be close to the bottom.

Prognightmare said:

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Depending on how much you're looking to put to work. You might be better served using that money on a few individual stocks for some huge returns down the road. Think back to the market capitulation on 12/26/18. There is about to be a fire sale of some great stocks and they will outperform the overall market indices following this correction. JMO.

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Spot on, so many great posts today. That was a 450 point drop I think. That would mean roughly 2600 as the bottom, Ouch!

Fortunately, we're majority in cash now... but I am stuck with DIS, was going to hold out for earnings, but that looks like a pipe dream.

Curious to see what bitcoin does as China wakes up (now) and starts reading headlines. Should be great for OSTK

I'm young. Plenty of time to recover. Fortunate that I've got a good job and the market doesn't faze me too much. More of a hobby that I try to make money at.

I'm older but I'd have a beer or whiskey anytime with you my friend.

I'm looking at the first spy support to be 274-275. We got there in June and March and that is just above 10 percent off the high, if it fails Decembers "V" bottom was 235

BREwmaster said:

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Prognightmare said:

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Depending on how much you're looking to put to work. You might be better served using that money on a few individual stocks for some huge returns down the road. Think back to the market capitulation on 12/26/18. There is about to be a fire sale of some great stocks and they will outperform the overall market indices following this correction. JMO.

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Spot on, so many great posts today. That was a 450 point drop I think. That would mean roughly 2600 as the bottom, Ouch!

Fortunately, we're majority in cash now... but I am stuck with DIS, was going to hold out for earnings, but that looks like a pipe dream.

Curious to see what bitcoin does as China wakes up (now) and starts reading headlines. Should be great for OSTK

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I love your enthusiasm but if this market turns and margin calls come in, and short sellers jump on the pile, it might get ugly. FWIW, I don't think we take out the December lows but 10%+ correction looks like it's a forgone conclusion. Not even OSTK will be spared, but it should have relative strength compared to the overall market.