[Paul335i]

Dow futures down > 500.

European stocks are getting pounded.

SX5E:IND

Euro Stoxx 50 Pr
2,762.30 -275.56 -9.07% -8.23% -23.50% 7:29 AM

UKX:IND

FTSE 100 INDEX
6,048.68 -289.42 -4.57% -2.74% -11.63% 7:29 AM

DAX:IND

DAX INDEX
9,520.58 -736.45 -7.18% -5.34% -17.00% 7:29 AM

CAC:IND

CAC 40 INDEX
4,077.77 -388.13 -8.69% -7.98% -19.18% 7:29 AM

IBEX:IND

IBEX 35 INDEX
7,812.00 -1,073.30 -12.08% -12.40% -31.00% 7:29 AM

 

[Gary J]

Man I hope so. I have all of this money set aside for a cash Series 7 European Delivery but they took so long getting out the MY17 ordering guides I cancelled all my 9/1 reservations. I had a hunch the Brits hated EU so I kept that powder dry. Now it's time to buy stocks with both hands. :thumbs:

 

[Autoputzer]

Yeah, another crisis du jour. That happens about every six months or so (e.g. August 2015, February 2016), for whatever reason. Just be careful not to try to catch a falling knife.

 

[Dave 330i]

Have cash, looking for "bargains". The founding fathers were smart to come up with the electorates, which prevent the ignorance in the individual from making decisions. The UK parliament still has the votes to right the ship, but it doesn't look good since David Cameron resigned as PM. His biggest mistake was to promise the referendum in his election campaign.

 

[Bob Shiftright]

Just be careful not to try to catch a falling knife.

This one might be more than a falling knife.

 

[Dave 20T]

US stocks shouldn't be affected as much. If they are, it is a time to buy a little more. European companies are a different matter, though. A broken up EU could hurt in the long run but uncertain how much.

For example, Europe has the reputation of being more protectionist than the UK and also very bureaucratic. This could hurt the EU.

 

[Gary J]

I managed to pick up some of the harder hit tech - AMZN and FB had a 3-4% off sale. :thumbup:

 

[Dave 330i]

I managed to pick up some of the harder hit tech - AMZN and FB had a 3-4% off sale. :thumbup:

Exactly. I dumped a lot of cash in AMZN, Friday. I am convinced that it will perform better than in a savings account.

 

[hockeynut]

Wall St absolutely hates unpredictability.

 

[136881]

I've been on the sidelines for a year. Waiting another week or two to make a move. I think it's going to continue to go lower

 

[Bob Shiftright]

I used to have a bunch of trade confirmation slips from Friday October 16 1987 (all my indicators went to "Strong Buy'") tacked up above my desk.

That was the Friday before Black Monday. (My indicators were only off by one day.)

Good luck y'all! I hope you make tons of money!

I'll be watching from the sidelines. (I'm neither bull nor bear, I'm chicken.)

 

[Gary J]

I've been on the sidelines for a year. Waiting another week or two to make a move. I think it's going to continue to go lower

Yes it only took me like 30 years to figure out market timing is for losers.

 

[136881]

I managed to pick up some of the harder hit tech - AMZN and FB had a 3-4% off sale. :thumbup:

Should have waited a little longer, it's going to continue to go down. Although I think you'll be fine in the long run, the sale is going to continue in the short term. UGAZ is up 7% today. :bigpimp:

 

[Gary J]

the sale is going to continue in the short term.

I don't know that. Neither do you.

 

[stylinexpat]

I don't know that. Neither do you.

We are in correction mode now. 1800-1900 S&P500 is possible. Yellen said US stocks were over valued that means no intervention from FED now which means that they will allow stocks and indexes to drop.

 

[Bob Shiftright]

I expected the market to rebound today. Tomorrow.

See a lot of bullishness.

 

[Autoputzer]

I expected the market to rebound today. Tomorrow.

See a lot of bullishness.

Yeah, the S&P500 was pretty flat after about 11 a.m. Eastern Time ... crisis du jour.

 

[stylinexpat]

Monthly candle is pretty red for the time being. Last few days of the month so we could see some window dressing here. Next support is around 1800 if we continue to drop. Quite possible we see a small bounce this week though.
US Futures are green now. For a scalp trade one can buy but for a summer long this is quite risky now.

 

[Gary J]

These comments are an advertisement of why market timing is for losers. Completely opposite predictions so somebody has to be wrong. Buy and hold the great companies over an investment lifetime is the only proven percentage winner.

Oh and candlesticks - lol

 

[Autoputzer]

These comments are an advertisement of why market timing is for losers. Completely opposite predictions so somebody has to be wrong. Buy and hold the great companies over an investment lifetime is the only proven percentage winner.

Oh and candlesticks - lol

Yeah, but I have a significant amount of my wealth in the Thrift Savings Program (TSP). TSP is effectively a 401(k) for federal civil servants and the military. They have a limited number of funds to chose from. What I've been doing is sitting in the stable short term Treasury fund (G) and jumping into the S&P500 fund (C) after a mini-crash to ride the bounce up, and then get back to the Treasury fund when the S&P500 flattens out. Doing this I'm at about +7% for the last twelve months, vs. about -5% for the S&P500. If I'd been better at it, I could have been up about 15%.

A lot of TSP-ers were doing this. So, a few years ago they limited us to two inter-fund transfers per month, plus an extra parachute (a move back to the Treasury fund) if we want. But, the inter-fund transfer order has to be in my noon Eastern time to execute after the market closes that night.

A couple of my friends from work poo-poo-ed my TSP "S&P500 surfing" idea... until I reminded them that they've recently bought me a BMW. O.k., maybe just a 228i... with Track Handling Package.