The Rokslide Stock Traders Thread

[Clarktar]

I am pumping as much as I can afford into a mutual fund in my portfolio. I am 30 so I am really thinking long term here. We have a vacation planned for next month and if that gets canceled and the market is still down I am taking that money and buying more.

Which fund?

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[Brock A]

Which fund?

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Franklin DynaTech.


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[Johnboy]

It looks like interest rates for mortgages went back up??

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I'm currently in the market for a house, and I emailed my lender-to-be about the bump in rates listed on their website. She said the re-fi rates climbed due to volume, but home purchase mortgage rates remain low. FWIW

I'm scheduled to look at a house this afternoon, but I'm considering whether buying a house *right now* is very wise. I mean, who knows what the market will do? Housing prices were/are at a high. If I buy in now, I could be underwater in a matter of weeks. Where's my crystal ball when I need it?

 

[Brock A]

I'm currently in the market for a house, and I emailed my lender-to-be about the bump in rates listed on their website. She said the re-fi rates climbed due to volume, but home purchase mortgage rates remain low. FWIW

I'm scheduled to look at a house this afternoon, but I'm considering whether buying a house *right now* is very wise. I mean, who knows what the market will do? Housing prices were/are at a high. If I buy in now, I could be underwater in a matter of weeks. Where's my crystal ball when I need it?

Buying a house right now scares me more than getting the virus.


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[Clarktar]

I'm currently in the market for a house, and I emailed my lender-to-be about the bump in rates listed on their website. She said the re-fi rates climbed due to volume, but home purchase mortgage rates remain low. FWIW

I'm scheduled to look at a house this afternoon, but I'm considering whether buying a house *right now* is very wise. I mean, who knows what the market will do? Housing prices were/are at a high. If I buy in now, I could be underwater in a matter of weeks. Where's my crystal ball when I need it?

The house pricing is a good point. I still see homes being valued quite high. If we continue to be in a financial slump through spring I imagine home prices will adjust and come down. But, pure conjecture on my part. I'm a fish squeezer and know Jack all about the rest of the world/life.

I was looking to refi, so maybe that is why I was seeing an increase. I'll just hold off.

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[Trial153]

If all your down over the last two week is 10-14% .....send the fund managers a hefty bonus

 

[Morrid7]

I’m always in the market for alcohol, bows and firearms

But seriously, I don’t think the bottom is in but wouldn’t trust my instinct to call it either...With the amount of trading volume by computer algorithms being so dominant now, I think future recessions will be marked by similar, huge point drops. Limit down in the Dow or another index used to be so rare, but we’ve hit trading curb levels multiple times in the last week.

When stop loss levels in the algorithms get pierced, you have waves of selling by computers that drives prices down, prompting people to sell.


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[Turkeygetpwnd38]

Buying a house right now scares me more than getting the virus.


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Market is definitely inflated but is starting to taper off. There are still great deals to be had if you have a long term outlook and some common sense. Money is cheap right now.

 

[Brock A]

Market is definitely inflated but is starting to taper off. There are still great deals to be had if you have a long term outlook and some common sense. Money is cheap right now.

To be fair I live in Western Wa, about 40 miles from Seattle so the housing market is bananas here right now. For example, a 3 bed 2 bath home on my street (homes built in mid 80’s) just sold for 257% above what I paid for mine in 2012. My take might be a little skewed because of that.


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[007hunter]

Curious what your definition of a recession is?

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Multiple quarters of negative earnings.

 

[Don Qui Puncher]

What’s everyone think of Exxon? Looks good to me right now

 

[bozeman]

DQP- it’s on my watch list. Hoping for $30, then BUY BUY BUY

 

[brushape]

So we got that nice bump from the feds, do we think that’s going to hold for a couple days or is this shit going to crash again Monday?


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[EastMT]

So we got that nice bump from the feds, do we think that’s going to hold for a couple days or is this shit going to crash again Monday?


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It’s impossible to know in this climate but I don’t see how it can keep going up yet, we haven’t hit full shut down mode yet. Few more weeks I think will be lower, but I have no idea. One thing I’m sure of is volatility, but I don’t know which way it will go.

 

[Clarktar]

WA state just shut down all schools K-12 for 6 weeks. I'm guessing more states will have similar closings. I would think this will elicit a negative response in the market. I still feel the actual economic strife from the virus (supply chain issues, disruption from reduced employee headcounts etc) have not fully materialized. I think what is driving the market right now is speculation, uncertainty, fear, etc. Will the actual economic strife have a greater negative effect on the market then all the hype/speculation/fear? I have no clue.

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[Broomd]

WA state just shut down all schools K-12 for 6 weeks. I'm guessing more states will have similar closings. I would think this will elicit a negative response in the market. I still feel the actual economic strife from the virus (supply chain issues, disruption from reduced employee headcounts etc) have not fully materialized. I think what is driving the market right now is speculation, uncertainty, fear, etc. Will the actual economic strife have a greater negative effect on the market then all the hype/speculation/fear? I have no clue.

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But it's more than that. Many businesses have no clients, less workers, supply chain problems.
It's a massive clusterfark.

I think the markets not only continue decline, but they literally close for an indefinite period of time.
If we can somewhat contain this thing as a nation, we can rebound in a couple of months, but if it gets much worse all bets are off.
Ima big Trump fan, but her really fu cked up with this whole thing. I know he's an eterenal optimist, but his enemies are going to destroy him over the two-three weeks that were lost with his constant rose colored glasses assessment.
He should have been implementing ventilator production, Covid testing procedures etc.
We're in for a real tough haul, imho.

 

[5MilesBack]

I sold some stuff near the close yesterday. I don't think we've hit bottom.

 

[skywalkr]

What’s everyone think of Exxon? Looks good to me right now

You’re a braver man than I getting into oil stocks right now. Get ready for that dividend to get cut.

 

[Trial153]

Exxon is a train wreak. If they dont pull back that 5 year spending plan you can plan on dividends being slashed.

 

[Trial153]

We arent any where near the bottom yet. Its going to months before we have true picture of what this virus cost the globel economy.

I am calling a spade a spade. Right now we are flat out gambling. I am ok with that.