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Dow Plummets

BaconHound

By BaconHound
in POLITICAL DISCUSSION

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TexasAg1969 Veteran

TexasAg1969

Posted
Posted
8 hours ago, Canton Dawg said:

500 point drop in 1987 = 22%.

500 point drop in 2017 = 2%.

Focus on the percentage, not the points.

Absolutely. If you have cash saved aside to invest, now is the time to find really fine bargains in excellent companies whose bottom lines will remain very strong. I was lucky to get out of a few at the beginning of Jan. to raise cash for my 2018 required minimum distribution from a stock based IRA. I dropped several that I felt had played out and kept several that will resist any further downswings in the long run. The market was overdue for a strong correction. That is just normal.

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Canton Dawg Grand Master

Canton Dawg

Posted
Posted
23 minutes ago, TexasAg1969 said:

Absolutely. If you have cash saved aside to invest, now is the time to find really fine bargains in excellent companies whose bottom lines will remain very strong. I was lucky to get out of a few at the beginning of Jan. to raise cash for my 2018 required minimum distribution from a stock based IRA. I dropped several that I felt had played out and kept several that will resist any further downswings in the long run. The market was overdue for a strong correction. That is just normal.

Couldn't agree more, stocks are now on sale.

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Westside Steve Grand Master

Westside Steve

Posted
Posted
3 hours ago, TexasAg1969 said:

Absolutely. If you have cash saved aside to invest, now is the time to find really fine bargains in excellent companies whose bottom lines will remain very strong. I was lucky to get out of a few at the beginning of Jan. to raise cash for my 2018 required minimum distribution from a stock based IRA. I dropped several that I felt had played out and kept several that will resist any further downswings in the long run. The market was overdue for a strong correction. That is just normal.

Exactly. The first rule in the Buy Low sell High recommendation is to buy low. I just checked and I noticed a bite out of my bottom line. I'm assuming the managers of the dozen or so funds are busy as we speak

WSS

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TexasAg1969 Veteran

TexasAg1969

Posted
Posted
35 minutes ago, Westside Steve said:

Exactly. The first rule in the Buy Low sell High recommendation is to buy low. I just checked and I noticed a bite out of my bottom line. I'm assuming the managers of the dozen or so funds are busy as we speak

WSS

I got a personal note from my stockbroker saying not to panic because we had done all our homework and were well spread out with quality stocks for the long run, balanced well with other more stable things that provide dividends with low volatility in price. Everything in those funds is set for automatic reinvestment of dividends with no stockbroker fees involved, so the dividends are buying at lower prices. I have a separate IRA with a major chunk of "doomsday" Swiss Gold ETF when Trump finally twists off and nukes his buddy.LOL!:rolleyes:

EDIT: When i was cashing out my required minimum distribution last month instead of waiting until Dec. like I could have, I told him then I wanted cash delivered now because I felt that after a strong 2017 and a strong start again in 2018, I felt (cal will love that one:lol:) the market was far overdue for a major correction. I wanted to cash out as required before the correction I saw coming. Now I really did not expect it this soon, but here it is.

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Westside Steve Grand Master

Westside Steve

Posted
Posted

Yes I talked to my guy a couple of weeks ago and we agreed that there was a correction coming. That's why I made the joke with him about switching everything over the day before. Mandatory distribution sounds like annuities. 

I'm not even concerned yet just because points and percent are different as was pointed out.

If worse comes to worse I have a big jar of change laying around here somewhere. 

:lol:

WSS

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TexasAg1969 Veteran

TexasAg1969

Posted
Posted
47 minutes ago, Westside Steve said:

Yes I talked to my guy a couple of weeks ago and we agreed that there was a correction coming. That's why I made the joke with him about switching everything over the day before. Mandatory distribution sounds like annuities. 

I'm not even concerned yet just because points and percent are different as was pointed out.

If worse comes to worse I have a big jar of change laying around here somewhere. 

:lol:

WSS

Mandatory from IRAs start the year you turn 70 1/2. I would rather have left it alone, but it was an opportunity this year to at least take some before the correction. Had to take some last year too using that same weed out the top-enders process. :D

Here's a little assessment I found on the internet this morning which I think is accurate:

Mark Bern from seekinglpha.com:

"Conclusion

We believe that the case for continuing this bull market advance is stronger than that for an immediate bear market. We could get a correction of more than 10% but we could also get a pull back of less magnitude. The market needs to take a breath and rest so it can build a foundation from which to launch another leg higher. So, we still believe that the bull market will remain intact but that the current selling could provide some unique opportunities to find a few select, quality companies at reasonable valuations."

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