Son of Butch
Well-known member
S&P 500 Index is now 62% above its March low and up 16% from 1 yr ago.
I smell a February correction.
What say you?
I smell a February correction.
What say you?
Dow Jones breaks 30,000
- Thread starter Son of Butch
- Start date
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Possibly sooner but the next leg up will follow, always does.
KAstocker
Well-known member
Normally there would probably be a correction, especially if taxes are likely to get raised. But a bond brings less than 1%, so where else are people going to put their money? The fed messing with interest rates these last 10 or so years has thrown a wrench in things. But I agree, there's surely going to be a big correction some time in the next year or so.
Caustic Burno
Well-known member
This is being driven by Chinese imports and the promise of cheap foreign labor boosting investor and corporate profits.
The exact opposite of what we voted for when I carried a union card.
Like I said I am a Reagan Democrat the party left me.
What's good for Wall Street isn't always for Main Street.
simme
Old Dumb Guy
Probably time for us old folks to take some profits, reallocate and be ready to re-invest when the market drops. Young folks should probably stay fully invested in stock funds (not the bovine kind) for the long haul.
farmerjan
Well-known member
I'm moving most all my small retirement account into safe stuff. Don't trust the way things are looking. Took out a chunk for down payment on house a couple months ago, so not alot there. Don't want to see it taxed in the future as has been said .....they are going to have to pay for all this free to everyone stuff..... and it is not going to be off the little I have left in the retirement fund.
4hfarms
Well-known member
I agree with the correction call, it will be soon. Buy property, bitcoin, gold & silver. There will be a masive asset boom next year. Prepare to gather your couch change and invest when the market corrects. This may be the last oppertunity for a while. All this Government Money will devalue the dollar more than we can understand. With the rates this low, its perfect for refinancing or purchase a home if you can. Cash makes nothing under your mattress, or the bank......
What is "safe stuff"?
I'm really not sure what to make of bitcoin.
Looks like the dollar has been trending down for a while now and I agree with your assessment about Gov spending. However, last time I thought the dollar was a goner it held up better than logic would dictate because it's the "healthiest horse in the glue factory"
Exactly. There is no better place in the world to put your money. Until that changes we will not see a major correction.
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Caustic Burno
Well-known member
This pretty well sums it up.
farmerjan
Well-known member
We have a "safe" investment through Met Life in our portfolio. Not dependent on the stock market, "guarantees 3 month returns, at a time. Yearly average is only 2 1/2+ % but you can't lose what is there, like with the market. I have some money in other more risky things but not alot. I move some of the gains into the Met guaranteed account from time to time. I'd rather be safer and not make alot. I am by no means experienced in investing. Just know what my risk meter is like and when I start to feel uncomfortable, I move it. I am afraid that the dollar is going to wind up falling way off.... and I have no intention for there to be any kind of money there for them to come back and tax because it is over xxx dollars or whatever arbitrary figure they come up with. But I am taking another disbursement to put into some more silver.... I only deal with real silver coins because I don't understand some of the other stuff. This way, if I need to spend some money, pre -64 silver coins are worth more because of the silver content. And it is legal tender.....I remember that not too long ago gas stations and some other places were advertising that they wanted silver coins and they were worth more to them.... giving more product (like gas) for real silver coins.....So I try to buy a couple hundred dollars worth a couple times a year. Added bonus, I can add to my coin collection , as there are alot that are in pretty good condition. I am not one of the "uncirculated" type of coin collectors,,,,, just an average collector. They are spendable in the case of really tough times.
But yes, buying the house at the real low interest rate may be one thing that will allow me to keep it if times get even tougher. Plus I can raise my chickens here.... and do what I want with no landlord telling me; yes/no/maybe.
Anyone who has a mortgage or borrowed money, needs to look seriously at what their interest rates are, and get locked down into the lowest rates they possibly can find now. Mine is 2.87%..... whoever heard of that?
But yes, buying the house at the real low interest rate may be one thing that will allow me to keep it if times get even tougher. Plus I can raise my chickens here.... and do what I want with no landlord telling me; yes/no/maybe.
Anyone who has a mortgage or borrowed money, needs to look seriously at what their interest rates are, and get locked down into the lowest rates they possibly can find now. Mine is 2.87%..... whoever heard of that?
Son of Butch
Well-known member
Healthiest horse in the glue factory. - good one
Bitcoin's volatility has always scared the crap out of me.
12/15/21 48,400 today year ago 12/15/2020 19,400 up 149%
Great call by 4hfarms on Nov 25 2020 to buy bitcoin
BUT if you bought it in April 2021 at 65,000 - then it sux.
Gold has been disappointing; I was expecting a breakout over 1,850 as inflation hedge. I wonder if bitcoin has replaced gold as the inflation hedge.
Gold is at 1,768 and appears to be doing nothing.
S&P 500
4630 has been the key level of support the last few weeks.
If it breaks significantly below 4630 expect it will be key number in resistance.
S&P 500 seems to be like Tom Brady - never bet against either.
I am not a negative or doom and gloom type. But I think a correction is coming and not only at wall street.
IMO.
Best thing during these times is being debt free.
We have worked very hard for over 25 years to pay off our house. Think about the house market correction from deregulation years ago and what happened to prices. How many people walked away from their mortgage ?
I would be afraid to have mortgage right now because houses are being sold over twice what their worth and it will correct or at least it always has.
Car, truck, equipment prices are also a victim of this money printing era. It seems like whatever you take a loan for.... it's not worth what your paying....which is ok I guess if you're paying cash and don't mind being overcharged.
When house market corrects most people with an unseasoned mortgage will be upside down.
IMO.
Best thing during these times is being debt free.
We have worked very hard for over 25 years to pay off our house. Think about the house market correction from deregulation years ago and what happened to prices. How many people walked away from their mortgage ?
I would be afraid to have mortgage right now because houses are being sold over twice what their worth and it will correct or at least it always has.
Car, truck, equipment prices are also a victim of this money printing era. It seems like whatever you take a loan for.... it's not worth what your paying....which is ok I guess if you're paying cash and don't mind being overcharged.
When house market corrects most people with an unseasoned mortgage will be upside down.
Son of Butch
Well-known member
Listening to Jim Cramer from Mad money this morning.
He is always a bull and while he hasn't become a bear, he did say because of the fantastic returns the market has generated we are at the point where investors will feel some pain.
Growing pains?
Markets never go straight up, and with the ups will come the downs, but in the end there will be more ups than downs. It's just part of the value of time.
I cashed out some earning from the covid drop preparing for the next fall/ correction.
On the next fall I'm taking the single stock earnings and going S&P. There is no telling where this deal will go. I have the same feelings about bitcoin.
On the next fall I'm taking the single stock earnings and going S&P. There is no telling where this deal will go. I have the same feelings about bitcoin.
Son of Butch
Well-known member
yeah - I have no good idea on what to do. I don't see anywhere to hide.
I don't want to hold too much in cash knowing I'm guaranteed a 6% loss to inflation holding cash. Hoping index funds will cushion the ride.
Mrcopier
Well-known member
My safe space gets me a average of 15% annually, this last year was 44% return. I'm not moving a dime from it I'm adding. It never really goes down and if it does it still a average of 15% return
Son of Butch
Well-known member
Care to explain your "safe space." You're collecting dimes and other coins?
Mrcopier
Well-known member
Lol nope. When I get to my desk top at work I'll explain. To hard on this iPad
