So huge stock market crash today due to US recession fears.
What is everyone thinking?
Stock Market Crash - WYD?
itslittfam on 05/08/2024 - 16:33
Last edited 05/08/2024 - 16:33
Last edited 05/08/2024 - 16:33
Poll Options
- 20Hold and wait for more info
- 11Sell
- 70Buy the Dip
Comments
Lol. Yeah, huge. ASX200 down 3.7%
It scares me to think what will happen when there is the next crash if a little dip makes people yell crash.
Been looking happily at Wesfarmer's all-time high of $74.04 the last week.
Lots of stocks in OZ down more than that.
Most of the US big stocks are down 10% in premarket. Its going to be a blood bath today.
The question is how low will they go!
Me: I wish I could buy ETH again pre surge prices
Magic wish granting monkey paw: *closes 1 finger *
Me: wait.. no not like that!
I mined mine!! ;)
That's why I love my previous foray into crypto. No "crash" smaller than 50% will make me nervous. I have long become indifferent
Japanese market down 10% or something today. This is nothing.
Buy the dip for sure. Just need to create another poll to figure out where the bottom is…
People have a spare stash somewhere, to buy when there's a dip?
Several options:
* You're flush with cash - consider the period as a buying opportunity. Many stocks oversold and overpriced. A few reasonably priced but will see a down-trend in price based on current sentiment, however the intrinsic value will remain. Consider these as reasonable entry points?
* You're can't stomach the downside - book profits and take 50% of your shares as cash. It'll limit your downside, but also limit any potential upside that might occur as a rebound.
* You're strapped and can't handle a loss - Sell everything. It'll lock you into a loss/gain at whatever it's at currently, but you have that cash on hand should this be a contagion that spreads further or there's further selling on Wall St tonight.
* Wait and see - Do nothing. Consider it a reasonable correction on what's been a banger year or so. Nothing more to do than head to the Winchester and let this all blow over.Personally, I'm opting for option 2. Downsized about 50% before it kept bleeding in the afternoon.
Typical thing: Not financial advice. If you want financial advice, pay a financial advisor. I'm but a simple idiot.
Oh, and combine whatever option you select above with an appropriate amount of alcohol, preferably sourced from a previous OzBargain Deal.You sold out of 50% of your holdings on a 4% dip? Wow.
Yes, I'm very conservative. I have a family and a mortgage. You do you.
4% dip today but what was the growth since your buy in?
@soan papdi: Enough that I'm happy to shuffle my profits from the stock market to my offset account for when the fixed rate finishes.
I'm not a genius, but the rise of the market has been pretty (profanity) wild (and built on AI sand) and I'm unconvinced this is the end of the bleeding.Maybe I'm wrong and if you're buying the dip, I salute you.
@astevens: Oh no, I'm conservative too, so much that I don't have the stomach for individual stocks. I just get VGS and sit back.
z, y gen investors getting a dose of reality.
BuT StoNKs OnLy GO Up.!@$1Kind of saw this coming, currently 90% in HISA as of 2 weeks ago, the highest proportion for me. Something about the worldwide stock markets smells fishy.
Iron ore is also strangely high whilst steel is tanking hard (-25% and still falling for the year).
Only time will tell but i reckon Australia's not going to be on the right end of this one unlike the GFC. Underlying housing debt bomb doesn't help.
Stick to your plan because you would have accounted for market dips.
your plan
My what?
buy, buy, buy…
bye bye
YOLO it all into shorts… and all your spare cash into BTC.
The one strategy that has never let me down:
1) Gold
2) HoldI see Ron Swanson has entered the chat…
it was up last week, down this week, itll be up again next week
just relax
HODL To the Moon /s
This may be an unpopular opinion, but here goes.
The mainstream media is ignoring the big issue. Yes US recession fears are concerning, and the Crypto and Nikkei drops have put fear out there. But they aren't actually the biggest concern.
China is the main concern right now. Thier ecconomy has been in trouble for a couple of years. The government has absorbed about as much as it can to keep the market stable, and now it's selling US treasury bonds to keep itself stable. That's what happened in the US today - the culmination of US inflation, debt and sliding GDP, and weakening demand for US Bonds.
If you have positions on the Nikkei it's too late. holding is better than trying to dump at this point. There isn't any reason to expect it to continue to fall at this rate, apart from fear selling. I'd say as the investors who leverage the yen to invest in crypto will all be looking for new loans or be forced to sell thier Crypto, and once that's complete the Yen will drop back some and the Nikkei will recover.
If you have positions in the US, then the relatively small drop today shouldn't be too hard to absorb. The bigger risk is that the US has a decent risk of heading for a recession. They are also in an election year. The incentive for the current President to try and stop a recession happening is very high, as incumbents don't get re-elected if there has been a recession (big generalisation, but there is plenty of evidence for this) Of course, the incumbent is stepping down, but I can't see a situation where a new stimulus bill isn't at least considered, which should slow the fall.
If you are primiarly active in the ASX, then the bump today was a little larger, but our financial position is pretty healthy right now. We should weather this global bump ok.
If you are holding risky positions in any kind of real estate stocks, then I'd be getting out from those ASAP. Real Estate will lead the next market crash.
If you feel like gambling, then currency speculation could be interesting in the next couple of weeks. The increase in interest rates in japan has bit those investors who borrow from Japan to invest in the US or even here. Expect to see some selling taking place for those who have suddenly found themselves in risky positions. Today that saw the Yen climb heavily and the USD to drop against AUD. Further volatilty can be expected this week and next while everyone rearranges the deck chairs. No, I'm not prepared to offer any tips on what to buy.
Footnote: I am personally not a fan of Crypto in any form as anything other than a straight up gamble. Put your money on a horse or blackjack, or buy crypto. All the same imho.
RE: Stimulus bill - what's the actual chance of that getting through though, if it only helps the incumbent?
My understanding is that would need to get through the Senate and while the Dem's hold a technical majority (thanks to VP tie-breaking vote), they need a greater majority to actually bring something like that to a vote and prevent a filibuster?my crystal ball is broken, so I don't know ;)
US Politics is incredibly (profanity) up right now, so predicting if politicians would actually take action to help out thier constituants is not the straight up answer it should be.
Seriously, the republicans are pretty fractured right now, especially since JD Vance. It wouldn't take much for a few to cross the floor. Will that happen? Probably not. But the act of proposing it will steady the market somewhat, even if it doesn't happen. They are also needing to tread a very narrow line as stimulus will impact inflation.
No mention of the unwinding of the Yen carry trade?
continue to DCA into the market
S&P 500 futures were down more 2.7 per cent, suggesting the selling might set to continue on Wall Street.
Hope my Onetel shares still ok. Haven’t checked them since 2000
you're good dude, completely unaffected by todays market jitters!
That’s good news.
I FOMO’d into Onetel, being young and dumb. Was a bit worried about their business plan considering the paid 17cents wholesale for each call and where selling calls for 15 cents
The free onetel to onetel caused a taxi fleet to replace their radios with onetel mobiles.
"Be fearful when others are greedy and greedy when others are fearful" - Warren Buffett
Warren Buffet sold out last quarter though…..
Yup - "Be fearful when others are greedy…". It's amazing how he just sold Apple and BoA stocks when stocks keep reaching ATH after ATH just before the dip . He's been selling more than buying the past year or so. It will be interesting to see when he'll have a buying splurge next.
how do you pronounce his last name? buffet like the buffet we go and eat at?
buy puts
DCA into the dip. They always pull a rabbit out of the hat and save the market.
That's the problem. At some stage they won't or just plain can't.
When? Who knows… with everyday that goes by it gets closer and at the same time the longer it takes the more catastrophic it will be.
No one remembers the COVID crash in March 2020? Man that was a wild time. The XJO went from ~7100 to ~4500 in a month.
37%!
Does this mean USD will finally drop coz atm our AUD buys a pitiful amount…
guys how can i reverse the bitcoin i bought from 2 weeks ago? i was told to buy the dip now i just want all my money back
Well what I won't do is buy $700k in Intel stock from Granmas inheritance.
Still well up YTD, hell i am still up from. 2 weeks ago . Hopefully a few good buying ops though. Stock market also looks mild compared to crypto collapse
Buy Bitcoin?