Stock Market: The Thread

[Mark68]

Dow down 600. 

Fecal matter meet rotating air circulation device.

[mrwicked]

yay cheap equities.

prob good time to plan a trip to london.

[HaloFan85]

3 hours ago, fan_since79 said:

According to an article I read this morning, Soros has been warning about this for weeks. So I would assume he'll be covering his short positions soon and making tons of money.

He's the one who broke the British pound a few years back. 

Soros definitely made a killing.  Vampire was buying a lot of gold the last few weeks.

http://www.zerohedge.com/news/2016-06-13/soros-buying-gold-brexit-eu-“collapse”-risk

[Jay]

whee...

[mrwicked]

some bank stocks have been deliciously cheap. citi was down 10% just on sheer panic. you think citi is gonna stay down? no, people will forget and it'll go right back up. easy pickings.

[fan_since79]

The market is soaring for a third straight day.

Cancel the End of the World!

 

[Stradling]

Friday was bad for my 401k, Monday was worse.  By the end of today it will probably be back to Thursday of last week.  

[gotbeer]

57 minutes ago, fan_since79 said:

The market is soaring for a third straight day.

Cancel the End of the World!

 

dammit.  and I just restocked the bunker.

[Tank]

46 minutes ago, gotbeer said:

dammit.  and I just restocked the bunker.

Don't forget the can opener!

[Brandon]

23 hours ago, fan_since79 said:

The market is soaring for a third straight day.

Cancel the End of the World!

 

Ironic

[fan_since79]

Dow about ready to hit 18,000 again. S&P back over 2,100.

Last week was just a bad dream. 

 

[fan_since79]

S&P hits news intraday high, and Dow is over 18,200.

Upward and onward!

 

[Amazing Larry]

Deutsche Bank scares the shit out of me. Hopefully it's not the next Lehman Bros.

[Jay]

Brexit, Schmrexit 

[Jay]

All three indexes closed at all-time highs.

https://finance.yahoo.com/news/energy-companies-lead-us-stocks-higher-oil-prices-150713996--finance.html

US stock indexes bust records as oil prices jump

The last time all those indexes set records on the same day was Dec. 31, 1999, according to Ryan Detrick, senior market strategist for LPL Financial.

 

[Brandon]

at least something is going good. i've lost about .375% on the rate since the election.

for simple terms of those lurking, if you locked in a loan before the election and say it was 3%, it's now 3.75% in about 13 days.....and it's getting worse. that's fucking nuts and the biggest jump in either direction i've seen in a very long time.

[ten ocho recon scout]

On 11/21/2016 at 4:45 PM, Taggart said:

at least something is going good. i've lost about .375% on the rate since the election.

for simple terms of those lurking, if you locked in a loan before the election and say it was 3%, it's now 3.75% in about 13 days.....and it's getting worse. that's fucking nuts and the biggest jump in either direction i've seen in a very long time.

My loan lady just explained that to me yesterday. i luckily refid and locked in about 5 days or so before the election. guess i dodged a huge bullet

[Brandon]

yeah, even in a day off like today i was emailed the rate sheet and it's down another .220 basis points. i haven't done the manual math, but i wouldn't be surprised if it's a full point by now or close.

i was just told the fed is indeed looking to raise the rate too, even with this huge hit.

[Catwhoshatinthehat]

We've been kicking around the idea of selling our townhouse and getting into a house as the gain on our place would make it fairly easy.  When I saw Brandon mention rates going up since the election I was surprised to see that 30 year rates had gone up over 0.5% as my calculations were using the old rates.  I would think with rates going up prices come down a bit but I'm not an expert and the housing market here seems to be anything but predictable.  It's just interesting to see over the course of a a few weeks the cost of a house in our price range has gone up ~$200 a month with the rise in rates.  Long term I expect rates to rise because it needs to happen and it's a sign of a healthy economy but getting in at 3.625% has spoiled me. 

[Slegnaac]

Seems like a seller's market. I have heard that some areas are actually selling over the listing price . 

[Brandon]

yeah, the good news cat is that the flip side to rates going up is that home prices generally tend to go down. the stock market has gone up, but the 10 year bond has been beaten to shit since the election. literally every day bit i think two have been negative days with most being between 100-300 basis point days. i think we had two solid days of gaining 200 basis points, but those were even negated by lunch.....which is another trip, only on two or so occasions in the past year and a half have we had intra-day pricing changes where we adjust pricing around lunch or when the market is just that volatile to need the change, sometimes good but mostly bad. not only do i see the rate sheet bad every morning, but we have had at least five negative intra-pricing days where the morning rates are bad and then get worse 100-300 basis points again at lunch, just a double whammy compounding a negative cycle. i expect rates to go back to 5-6%, but it looks like we may get there quicker than anyone expected.

as for it being a sellers market, i'm not on the purchase side and refinance appraisals generally are more conservative than purchase ones. so i generally see appraisals come in lower than expected, however, certain pockets (mainly california) have higher values or seem to have rebounded a lot better than the rest of the nation. it's not the norm or standard, but certain areas have appreciated substantially.....like areas around here in oc.

[fan_since79]

On 6/24/2016 at 2:03 PM, Mark68 said:

Dow down 600. 

Fecal matter meet rotating air circulation device.

And it dropped another 240 points the following Monday to close at 17,140, the lowest point in the plunge.

If you had bought an index fund that tracks the Dow that day, you would have an 11% gain as of this Friday. Five months.

 

 

[mrwicked]

On 6/29/2016 at 11:45 AM, mrwicked said:

some bank stocks have been deliciously cheap. citi was down 10% just on sheer panic. you think citi is gonna stay down? no, people will forget and it'll go right back up. easy pickings.

Boom.

Bought NYSE:C at $38.48

Todays price: $55.83

yay. 

[mrwicked]

On 11/26/2016 at 9:27 AM, fan_since79 said:

And it dropped another 240 points the following Monday to close at 17,140, the lowest point in the plunge.

If you had bought an index fund that tracks the Dow that day, you would have an 11% gain as of this Friday. Five months.

 

 

Yep. Downturns are the best! Cheap equities yum...

[Gavin]

I sold out of most of my stocks and mutual funds yesterday. The underlying factors don't seem to indicate that this upturn has any legs. We are due for a recession based on market history.

I'm the first person to say that you can't time the market, but something smells fishy. With that said, when there's blood in the streets, buy property (equities in this case). I'll be back in the market soon.