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Post by Deleted on Feb 5, 2018 15:55:07 GMT -5
While Trump boasted about the stock market, and his supporters cited it as evidence of his awesomeness and as support for big tax cuts to corporations and the wealthy, some of us were bracing for this... www.bbc.com/news/business-42942921 Let me guess. The gains were all because of him. The losses are Obama and Hillary and Schumer. ETA: Btw? I don't blame this drop all on Trump -- we were overdue for a correction. But neither did Trump deserve credit for the gains -- and if you think he did, well, he owns this too. To the extent you were looking at the stock market and your 401K as a reason to overlook Trump's Trumpishness, you're going to have to fall back on "But Gorsuch."
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Post by mikey on Feb 5, 2018 16:43:43 GMT -5
I blame the Patriots loss. Who wouldn't?
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Post by prozyan on Feb 5, 2018 17:21:30 GMT -5
To the extent you were looking at the stock market and your 401K as a reason to overlook Trump's Trumpishness, you're going to have to fall back on "But Gorsuch." If this correction crushed your 401k or portfolio, a new financial adviser is needed. A ~7% change over past week doesn't mean much when the consensus is and has been there is closer to a 10% over-valuation. Stocks still returned ~30% on average last year and have been on a rampage since 2013 and a strong upward trend since 2009. Anyone who thought Trump was responsible for gains or losses (or really any President for that matter) doesn't know much about the market.
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Post by Deleted on Feb 5, 2018 17:49:34 GMT -5
Agree, Prozyan. But it's driven me nuts all this past year to hear people defend Trump on the basis that their 401K did well last year.
I've been anticipating this correction for a while now.
ETA:
It may not be so much the Patriots losing, mikey, as it was the Iggles fans trashing Philly... that gets expensive.
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Post by Deleted on Feb 5, 2018 18:00:28 GMT -5
Sigh. I think the Deep State is to blame, myself.
Buckle in for some stupid, folks.
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Post by prozyan on Feb 5, 2018 18:03:21 GMT -5
Its going to be even better at the opening tomorrow when the retail stock holders call their brokers and hit the sell button. Its going to hit the 23.5k level before it starts to stabilize and some people are going to be losing their heads. Wait until Apple hits 150, Boeing hits 315, or Microsoft hits ~82 and buy. You can thank me in December* *unless I'm totally wrong, then you don't know me and I don't know you.
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Post by prozyan on Feb 5, 2018 18:04:50 GMT -5
Sigh. I think the Deep State is to blame, myself. Buckle in for some stupid, folks. Gotta love Alex Jones! Its all the short sellers making a fortune and algorithms attached to the volatility index funds triggering auto sells that are killing things right now.
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Post by Deleted on Feb 5, 2018 18:10:12 GMT -5
I may have to tune into Hannity, just to get his take. I'm sure Hillary's emails will figure into it.
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Post by Deleted on Feb 5, 2018 18:33:56 GMT -5
Sigh. I think the Deep State is to blame, myself. Buckle in for some stupid, folks. Gotta love Alex Jones! Its all the short sellers making a fortune and algorithms attached to the volatility index funds triggering auto sells that are killing things right now. I have grown to love Twitter.
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Post by prozyan on Feb 5, 2018 18:59:48 GMT -5
That is pretty close to the truth there, lmao
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Post by Deleted on Feb 5, 2018 19:21:56 GMT -5
I've been having a grim week or so and today was no exception, but that tweet made me literally burst out laughing.
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Post by Vince524 on Feb 5, 2018 20:55:29 GMT -5
I blame the Patriots loss. Who wouldn't? I blame my sister in law.
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Post by Deleted on Feb 5, 2018 22:09:27 GMT -5
I blame the Patriots loss. Who wouldn't? I blame my sister in law. 0ut of curiosity, Vince, is there anything you DON'T blame your sister-in-law for?
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Post by Deleted on Feb 6, 2018 1:01:05 GMT -5
Its going to be even better at the opening tomorrow when the retail stock holders call their brokers and hit the sell button. Its going to hit the 23.5k level before it starts to stabilize and some people are going to be losing their heads. Wait until Apple hits 150, Boeing hits 315, or Microsoft hits ~82 and buy. You can thank me in December* *unless I'm totally wrong, then you don't know me and I don't know you. FWIW, btw, if I were a betting woman (I'm really not), I'd bet it plunges further than that before it's through -- to 20k or so or maybe below -- before it stabilizes, and then creeps back up to 21k or 22k-ish, which is a more rational level. We'll see!
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Post by Deleted on Feb 6, 2018 1:28:53 GMT -5
Sigh.
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