Here it comes, folks.

Chunky Stool said:

I haven't even looked at my 401k.

Sure wish I had moved into bonds the moment coronavirus landed here in the US.
Hell I knew almost 8 hours before it hit the news...

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Precious metals. Gold, silver....and lead.

Looks like America will be tRUmps latest bankruptcy, he seems to specialize in them.

TacoMac said:

13 trillion dollars has literally vanished in one week. You don't get rich that way. There are two types of rich people in times like these: those lucky enough to survive and the victims.

Remember Lehman Brothers? Bear Sterns?

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Traders can get super rich by short selling, as long as there is direction up or down it doesn’t matter.

zeddd said:

Traders can get super rich by short selling, as long as there is direction up or down it doesn’t matter.

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With short selling though, you are at risk of losing well beyond what your initial investment was.

zeddd said:

Traders can get super rich by short selling, as long as there is direction up or down it doesn’t matter.

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The smart saw this coming a month or more ago and started doing analysis of the best stocks to short and the best to hedge with. Some companies will do very well, health insurance companies, not so much.

TacoMac said:

13 trillion dollars has literally vanished in one week. You don't get rich that way. There are two types of rich people in times like these: those lucky enough to survive and the victims.

Remember Lehman Brothers? Bear Sterns?

Click to expand...

The thing is the rich elite pulled their money, they will put it back on the way back up. The average American wont pull their 401k money out. They will ride it out and hope, The rich dont have to. Both parties do it their investments are just different. It's been going on for years.

spek9 said:

With short selling though, you are at risk of losing well beyond what your initial investment was.

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Same for long selling.

zeddd said:

Same for long selling.

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How do you mean? If you buy a stock, it's value can only decrease to zero, so you can only lose what you've put in. With short selling, the price can rise well beyond the value at which you received the stock, so the loss potential when you have to return the shares is limitless.

Chunky Stool said:

I haven't even looked at my 401k.

Sure wish I had moved into bonds the moment coronavirus landed here in the US.
Hell I knew almost 8 hours before it hit the news...

Click to expand...

I pulled my 401k a week ago...

spek9 said:

How do you mean? If you buy a stock, it's value can only decrease to zero, so you can only lose what you've put in. With short selling, the price can rise well beyond the value at which you received the stock, so the loss potential when you have to return the shares is limitless.

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You can do it by chasing the loss with another bad trade thereby extending your margin requirements, if the deals go tits up you owe the market . Take the example of leveraged trading with no actual stock or share or commodity, the spread betting firms warn you of this when you sign up. I agree that you can’t loose more than the initial amount you invest if you invest it as you suggest, which is much more how it should be imo

This is craziness
I know nothing about finances. Thankfully I have a good fininacial investor who takes care of my retirement portfolio. I pay him to do the work and worries for me. Crashes happen and I think we we due for one soon anyway. We will recover one day.I feel bad for people who lost it all now right when they were ready to retire because they were being swindled by investment company’s like Edward Jones who are not a Fiduciary. It almost happened to a colleague of mine.

@DwayneWayne

But hunter Biden!

Is anyone else thinking about buying stocks this week if it gets to a good buying level?

Dr.Amber Trichome said:

Is anyone else thinking about buying stocks this week if it gets to a good buying level?

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If I had the money to burn I would be buying as it drops. But as it is we've just maxed out our 401k contributions for now.

Im really hoping for this to clear up though, as much as I dislike Trump as President, I really don't want people to suffer more because he is an idiot.

Dr.Amber Trichome said:

Is anyone else thinking about buying stocks this week if it gets to a good buying level?

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buy Tesla.....

doublejj said:

buy Tesla.....

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Ok thanks . I will discuss that with my investor.

doublejj said:

buy Tesla.....

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Wow, they dropped about $300 in this last month.

I remember in 2009 when Obama brought in all the banks to the White House and came out afterwards saying he was not going to let them fail.

I was reading my 'Money and Banking Industry' textbook explaining how the banking industry worked and how if they got to a certain threshold of cash on hand and dropped below they would go bankrupt. And I put everything I had into Bank of America, I bought it at $3.50, and sold it all around $15. I felt awesome.

Then I tried my hand at day trading because the market was still so volatile. I did really well until I got my account frozen by making too many trades before waiting a certain period of time and decided I didn't want to end up in Federal prison for thinking I found a loophole I could exploit. Or broke because it was all a gamble and my money was stuck in stocks I had no really knowledge of why the prices were changing other than watching trends.

It is all a gamble.

Coronavirus fear and plunging oil price send stock markets reeling

Stock trading was halted for 15 minutes on Monday morning after the S&P 500 plummeted more than 7%.

Some say we might see $20 a barrel.

Days like this are why the 60% of investors earn less than if they just parked their money in a couple of low cost broadly based index funds and went fishing.