So how much did you lose today in the stock market? I'm by no means a big stock guru and actually have most of my paltry investments in fairly safe stocks. None the less, my portfolio lost a whopping 2.47% in one freeking day! That sort of makes the 30% per year declines in home prices seem mild.
Overall the market lost about 400 points today or just over 3%.
Oil went up $11 a barrel today. I wonder what that's gonna do to the price of gas next week.
I'll feel better once I have a couple of glasses of Black Label!
5 comments:
I don't look at my portfolio. It is all in a 401k so I don't "day trade" it. I lost a bunch in the dot com bubble despite the fact that they weren't in dot com stocks. It has since recovered. I have it pretty much spread out now between several different classes, but it is so up and down right now that watching it makes my stomach sick.
3% in one day. Hmm, if you annualize that, it only comes out to a rouch figure of 48,482% drop. If it was 3% in 5 days is would only be an annualized drop of 7.65%. Wow! What a difference a day (or two, or four) makes.
I'm up. But then again I did not leave a lot in the market.
I made a small portfolio of 2 types of ETF equities. The long term half is 100% global staples (water, power, food) the other half is shorts or ultra shorts on US stock indexes, US bonds, dollar.
I started it in Jan. On bad days like today the shorts go up and the globals go sideways.
On most days when people trade on the BS fake news it treads water up or down 2%, but always going back to dead even.
When BerSnakey throws more horseshiat on the public it goes down. But he can't do that often nor forever.
Call me crazy but I am happier that it has gone nowhere in 5 months more than any glee in the fact it went up today.
I know what everyone says about ETF shorts being an inefficient use of trading money, but I don't have the time nor nerves to day trade now. This is more like my "schadenfreude fund". I watch it once a day to see if the truth is winning out.
My strategy is to pile on the proceeds from shorting as we crash down, roll that $ (the worse the velocity gets this $ can be $$$$$$$$) Roll this $ over into the globals I've been $/cost averaging on the way down. Let the gloabl ETF's simmer for decades at steady returns
Then when I can't earn enough to live on I can cash it in, while others cry about the useless stipend they get from SS & Medicare.
My boss decided to shitecan the 412 a while ago. The IRS has my 412 money hostage right now but at least it in not in the market anymore. We are going to switch to self-directed 401. But that is all luckily just rotting away in a bank account in a holding pattern.
Hot Tip, PFF Bank is about to be picjed up.
My portfolio is doing OK. I'm into commodities lately. I like picking up food items that can be stored for a long time. I'm expanding into utilities such as water and electricity and gas. I like metals too... particularly fond of lead, the kind that comes in brass containers.
I figure if the SHF, I'd rather be ready than be hungry and thirsty. Even if my stocks were doing great, that won't matter much if I'm standing in line for bread and water.
Price of gas already went up 20 cents over night. When the price of the barrel closes higher they raise the gas price immediately. When it lowers they wait til they sell off the gas they already have in the ground before lowering it.
That was always a question that made me wonder hmmmm.
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