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Old 12-26-2018, 05:58 PM
 
2,747 posts, read 991,534 times
Reputation: 3203

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Quote:
Originally Posted by Piney Creek View Post
Before you panic too much, the Dow went up 1086.25 today. Interpret as you wish.

Boy, I can remember back in 1980 when people were saying the Dow would never again close above 1000, period. In the early 70s it had closed just barely above 1000 (it hit 1003, as I recall) but then it fell back below for about a decade. People said there was a plateau, and realistically we would never go that high again.

Now it leaps that much in a single day.
Buckle up your seat belts boys and girls is going to be a wild and bumpy ride.
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Old 12-26-2018, 06:06 PM
 
Location: USA
17,629 posts, read 8,845,467 times
Reputation: 13163
People make money from the people that panic.
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Old 12-26-2018, 06:08 PM
 
Location: Prepperland
13,732 posts, read 9,841,195 times
Reputation: 9842
It's fun, fun, fun, until half the human resources 'walk away' from FICA and collapse the 'dollar bill.'
Then billionaires become zero-aires overnight.

As Heston didn't say, "soylent dollars are people."
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Old 12-26-2018, 06:14 PM
 
12,291 posts, read 15,187,836 times
Reputation: 8108
It went up 1000 points today! All you suckers who sold Dec 24, too bad!
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Old 12-26-2018, 07:46 PM
 
Location: New Mexico
6,550 posts, read 3,656,219 times
Reputation: 12307
We went through a period of very little volatility a while back -- things were fairly stable with reasonable fluctuations and we got used to it. That was as unusual as the current swings and drops. I've actually been uncomfortable ever since we broke 20k on the market and expected it to fall back a good deal. Having it sit at 26k gave me the creeps and now we are back below 23k as of 12/26/18 with a "miraculous" gain. i hope it stabilizes soon but the political antics and turmoil plus the tariff war might keep it bouncing.
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Old 12-26-2018, 08:29 PM
 
168 posts, read 129,827 times
Reputation: 844
Times like this I am glad I have a trusted financial advisor who keeps me calm.
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Old 12-26-2018, 11:16 PM
 
Location: Pueblo area
211 posts, read 121,406 times
Reputation: 473
Was up early, watching the futures down 138, then 38. No biggie. Somehow resisted temptation to panic. No checking stock quotes all day, none. Started going through my Nat Geo backlog instead.

Logged on at close. What is this?
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Old 12-27-2018, 02:18 AM
 
71,501 posts, read 71,674,131 times
Reputation: 49074
Quote:
Originally Posted by Pilot1 View Post
People make money from the people that panic.
markets have always been a way of transferring wealth from the impatient to the patient
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Old 12-27-2018, 06:06 AM
 
30,068 posts, read 47,312,423 times
Reputation: 16014
It is not always about long-term anymore
This market encourages trading short term
Not saying people still can't make money/grow their assets using buy-and-hold strategy and out waiting periods of volatility and corrections
But if there is someone on each side of a trade--
Every time one loses money, the other axiomatically is making money...
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Old 12-27-2018, 06:09 AM
 
30,068 posts, read 47,312,423 times
Reputation: 16014
Quote:
Originally Posted by mathjak107 View Post
markets have always been a way of transferring wealth from the impatient to the patient
You posted you were likely going to sell your gold share allocation fairly soon because it had served its purpose to provide some equalibrium to your portfolio
Thinking you might hold on to it a little longer?
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