@jmski52 said: For those that are holding stocks in this environment, what is your exit plan?
If I owned stocks (which I do not), I would exit the same way I got in - gradually and in a tax-managed fashion for any gains. Always keep a cushion of liquid cash to buffer market gyrations to some degree.
Keep your powder dry. It may take a long time... but you'll be able to buy stock like a mini Warren Buffett When the market really bottoms.
I regret not loading up on stock during the 2008 market crash.
A couple of points.
First, buying stocks at exactly the market bottom (like a mini Warren Buffett?) requires that you know exactly when that is. So, if you know exactly when that is, you are doing better than probably 95% to 99% of the rest of us - including the so-called professionals.
Second, what is the reason you did not load up during the 2008 market crash? If you think back clearly, I'm guessing that the reason was likely to have been the fear of a further market decline and the potential losses which kept you from diving into the pool headfirst.
Some things are simply not predictable in advance, such as 10 year's worth of QE. We might have suspected that the jellyfish politicians would opt for bailing out their buddies in the banking system and then saddling the taxpayers with unpayable amounts of leveraged debt - but most people wouldn't have been willing to bet the farm on it.
Never try to catch the bottom of a crash. No one, not even Warren buffet knows the bottom before it happens.
Only one person on these precious metals forum was smart enough to sell all their gold and buy stocks in 2008. He now lives on an island and stares out at the ocean and PCGS better date St Gaudens $20s. The rest of us were too stupid and held gold at the perfect time to sell. I bet you did the same @jmski52 . I wise person once said "experience comes from making bad desision and learning from them". I screwed up in 2008 I just hope to maake better desisions this go round.
It won't be as easy as 2008 this time. Companys like the MAGA stocks I will buy on the cheap. Oil stocks, airline stocks, Oil . All these will come back, if you believe in America.
As much as the stock market has crashed we are nowhere close to the bottom. I haven't bought a single share of stock. The crap has not even hit the fan yet.
@jmski52 said: Didn't Illinois just legalize all forms of marijuana? I thought this was going to fix their budget and pension problems
I think that's what Illinois said when they legalized the state lottery many years ago.
Federally legalize the weed. It helps keep people in pain off opioids. 75% of senor citizens want it decriminalized in thye latest poll. The overdose rate has plumetted. Weed saves lives.
@3stars said:
Boeing stock is looking pretty good. I like it $150 more...
boeing has more problems than a reduction in passengers. It is experiencing a serious reduction in buyers
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Boeing may be worth closer to 0 at this point though USG will likely provide them some stimulus via extra military contracts to survive (similar to post 911). Boeing just tapped it's $13.5B revolving credit line because they know banks are going to pull it in liquidity crunch. Aircraft orders will not come in, and others will get canceled. To top things off, there is little public sympathy for Boeing after 737 Max debacle. Sure Boeing is going to survive, but how sure are you their stock does?
Another note on companies like Boeing.... They were financially irresponsible with all their stock buybacks and wouldn't need the $13.5B revolver. Now is when you'd think companies would be initiating them.
The rest of us were too stupid and held gold at the perfect time to sell. I bet you did the same @jmski52 .
Holding gold and not selling it at the top in 2011 was stupid only if you didn't plan to keep it as a core asset which has no counterparty risk.
I didn't do much serious buying after 2008 and until about 2015 but that was due mainly because I was aggressively paying off my mortgage at the time. I've been buying metals in a serious way again since 2016 and I'm considering one more roll of bullion now.
There's debt problem. The stock market is no longer based on risk/reward, so when you play that game you had better understand the entirety of the risk profile and not only what the price action of an artificially-inflated stock market looks like on a chart.
Q: Are You Printing Money? Bernanke: Not Literally
Gold got hit pretty much all at once, almost 100,000 paper contracts this morning. If it walks like a duck. . .
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
@3stars said:
Boeing stock is looking pretty good. I like it $150 more...
Yeah, it's at an awesome price! Unfortunately for me I own it already. Ouch! 😁 However I'm not in a hurry. I would buy more of it but I would have to take cash from my 401k and now isn't the time. I'm holding cash outside of my 401k plus we both have pensions so we'll just sit tight. Normally we would have about 40% stock and 60% in bonds or guaranteed interest funds but because we are lucky enough to be the last boomers with pensions we have a reverse of that formula. I'm not even looking at my 401k right now!😂
Gold down 4%. DJIA down 10%. Oil down 8%. BTC down 33%. Dollar is king, but for how long with $1.5T proposed injections. I'm quite happy with the performance of my gold since 2004. But still lol at the crypto as digital gold fantasyland.
I was talking about this with my wife yesterday, with gold hovering $1600, au/ag ratio, blahblah.
I don't know why but it took me a second to realize "gold is $1600... when oil is $20 a barrel".
What happens if/when oil is $100? The answer can't be nothing.
I'd love to hear some thoughts on this. The literal entire Internet is out of precious metals and prices just fart around a little? Nah, the lack of metals out there isn't the dealers just buying it up to maximize premiums. There's no way there's that many dealers.
What a weird time. But holy moly 5 more ounces of gold spread between 35 coins makes me feel a lot better. A bag of gold coins has a nice psychological effect when the time comes to bribe a doctor for a ventilator.
defense contracts/needs are the only reason Boeing is still breathing.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Comments
Never try to catch the bottom of a crash. No one, not even Warren buffet knows the bottom before it happens.
Only one person on these precious metals forum was smart enough to sell all their gold and buy stocks in 2008. He now lives on an island and stares out at the ocean and PCGS better date St Gaudens $20s. The rest of us were too stupid and held gold at the perfect time to sell. I bet you did the same @jmski52 . I wise person once said "experience comes from making bad desision and learning from them". I screwed up in 2008 I just hope to maake better desisions this go round.
It won't be as easy as 2008 this time. Companys like the MAGA stocks I will buy on the cheap. Oil stocks, airline stocks, Oil . All these will come back, if you believe in America.
As much as the stock market has crashed we are nowhere close to the bottom. I haven't bought a single share of stock. The crap has not even hit the fan yet.
Federally legalize the weed. It helps keep people in pain off opioids. 75% of senor citizens want it decriminalized in thye latest poll. The overdose rate has plumetted. Weed saves lives.
boeing has more problems than a reduction in passengers. It is experiencing a serious reduction in buyers
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
It's down roughly 50% from 6 months ago, I believe it lost 18% yesterday.
Boeing may be worth closer to 0 at this point though USG will likely provide them some stimulus via extra military contracts to survive (similar to post 911). Boeing just tapped it's $13.5B revolving credit line because they know banks are going to pull it in liquidity crunch. Aircraft orders will not come in, and others will get canceled. To top things off, there is little public sympathy for Boeing after 737 Max debacle. Sure Boeing is going to survive, but how sure are you their stock does?
Another note on companies like Boeing.... They were financially irresponsible with all their stock buybacks and wouldn't need the $13.5B revolver. Now is when you'd think companies would be initiating them.
Gold still hanging in there like an old friend. BTC... Halving is already underway, lol
The rest of us were too stupid and held gold at the perfect time to sell. I bet you did the same @jmski52 .
Holding gold and not selling it at the top in 2011 was stupid only if you didn't plan to keep it as a core asset which has no counterparty risk.
I didn't do much serious buying after 2008 and until about 2015 but that was due mainly because I was aggressively paying off my mortgage at the time. I've been buying metals in a serious way again since 2016 and I'm considering one more roll of bullion now.
There's debt problem. The stock market is no longer based on risk/reward, so when you play that game you had better understand the entirety of the risk profile and not only what the price action of an artificially-inflated stock market looks like on a chart.
I knew it would happen.
Really?
Change -$54.00 .... -3.30%....... Bid/Ask 1580.80...... 1581.80
Dow -7.2%
Gold -3.8%
Review what happened in 2008. Gold came back much sooner, and stronger as well.
I knew it would happen.
Gold got hit pretty much all at once, almost 100,000 paper contracts this morning. If it walks like a duck. . .
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
Yeah....I also remember 2011 and the subsequent 8 year slide.
Yeah, it's at an awesome price! Unfortunately for me I own it already. Ouch! 😁 However I'm not in a hurry. I would buy more of it but I would have to take cash from my 401k and now isn't the time. I'm holding cash outside of my 401k plus we both have pensions so we'll just sit tight. Normally we would have about 40% stock and 60% in bonds or guaranteed interest funds but because we are lucky enough to be the last boomers with pensions we have a reverse of that formula. I'm not even looking at my 401k right now!😂
Gold down 4%. DJIA down 10%. Oil down 8%. BTC down 33%. Dollar is king, but for how long with $1.5T proposed injections. I'm quite happy with the performance of my gold since 2004. But still lol at the crypto as digital gold fantasyland.
I was talking about this with my wife yesterday, with gold hovering $1600, au/ag ratio, blahblah.
I don't know why but it took me a second to realize "gold is $1600... when oil is $20 a barrel".
What happens if/when oil is $100? The answer can't be nothing.
I'd love to hear some thoughts on this. The literal entire Internet is out of precious metals and prices just fart around a little? Nah, the lack of metals out there isn't the dealers just buying it up to maximize premiums. There's no way there's that many dealers.
What a weird time. But holy moly 5 more ounces of gold spread between 35 coins makes me feel a lot better. A bag of gold coins has a nice psychological effect when the time comes to bribe a doctor for a ventilator.
defense contracts/needs are the only reason Boeing is still breathing.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey