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I have a bad feeling about this...................................

Ceiling Cat

Well-known member
Feb 25, 2009
28,188
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The markets are acting very strange, I think the only thing keeping the economy from collapse is the talk of stimulus in the USA. If US does not get stimulus soon I think we will soon be in interesting times.
 
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saxon

Well-known member
Dec 2, 2009
4,748
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This morning Le Chateau announced they are filing for bankruptcy and will close all 123 stores and liquidate all remaining assets.
 
Nov 26, 2006
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Barrie
If you can get your hands on any precious metals such as gold bullion or even silver, buy it up. I went to EDI Refinery and bought whatever fractal gold he had on him. The guy told me he can't hold on to the stuff. It's all getting sold as soon as it comes in. Could come in handy if the value of the dollar craters.
 

JuanGoodman

Goldmember
Jun 29, 2019
3,289
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When the markets can change with one tweet from the President, nothing is impossible. But looking at SPX500 chart we are still a weekly uptrend. And we are currently in a "holding pattern". With resistance at 3580 and support at 3230. Whichever way the market is going to go, it first has to break out of that box. Until then, it's in equilibrium.
 

JuanGoodman

Goldmember
Jun 29, 2019
3,289
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Gold chart is in the similar trend as SPX500. On weekly chart gold is in an uptrend and more resently it's in a "holding pattern". Resistance is at $2340 and support at $1860. Whichever way the price of gold is going to go, it first has to break out of that box and you can make your trading decision accordingly when that happens.
 

Ceiling Cat

Well-known member
Feb 25, 2009
28,188
1,103
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The worse is yet to come. We heard about. Le Chateau closing, this is just the beginning. We will get news of company closings week after week soon. The giant corporations will announce massive lay offs to survive. What will give a big boost to the North American economy is stimulus in the USA. I suspect the Democrats and Republicans have no intention to agree on a stimulus package before the elections. I suspect their intention is to cause a controlled crash landing of the economy/stock market. Stimulus will eventually come, but not at the same pace that it did for the first stimulus package.
 
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JuanGoodman

Goldmember
Jun 29, 2019
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The stimulus will come for sure. After all its only printed paper, a few truck loads of paper and the economy is saved.
 

Fifi_ulla

Active member
Jul 19, 2013
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They have been saying this since April, when i sold all my stock after losing 35%. as long as the stimulus money keeps getting printed, the great depression will be held off. I'm kicking myself for selling as everyone who stayed in bounced back and are laughing now.
 
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JuanGoodman

Goldmember
Jun 29, 2019
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Carvher

Well-known member
Apr 13, 2010
889
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I'm sitting on 70 percent cash. I was at 80 but I've been picking away at some value stocks. This could get ugly. I've thought all along that crash would come after we reports but earnings haven't really been as bad as I thought they would. So many reasons for it to move lower. Especially tech.
 

lkjh0987

About to Snap!
Aug 26, 2020
275
182
43
This morning Le Chateau announced they are filing for bankruptcy and will close all 123 stores and liquidate all remaining assets.
Have you ever set foot in their stores? They never have anything of any good quality. And the store is always empty. This is pre-covid. Le Chateau should have rebranded over 10 years ago. It was a lame duck that needed to be put out of its miseries.
 

Ceiling Cat

Well-known member
Feb 25, 2009
28,188
1,103
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This week was a really bad week on the stock market, it is either a tremor before the big one or it is the beginning of the big one. The big drop in the stock market can come over weeks. months or even over a year. The last recession lasted from May 07 to Feb. 09 before the markets started to recover. My ability to pick stocks is very good during calmer times, but recently things are starting to get cloudy.


I would hold off on on any investments for now. At the very least till after the American Presidential elections and then add some time to it for the situation to stabilize.
 

Indiana

Well-known member
Feb 23, 2010
3,617
1,406
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I’m sitting at 20% market and 80% cash for a little while now. And the market is blue-chips and high dividend payers bought at recent lows.
Wait and see. Ready to jump back in when it feels right.
 

Ceiling Cat

Well-known member
Feb 25, 2009
28,188
1,103
113
I am holding off on buying in right now as it will soon be a rough ride after the US presidential election. Trump may refuse to leave office claiming that the election was rigged. They might have to send in the swat team to taze him and cause him to soil his presidential briefs. Now is not a good time to put money into the market.
 

SammyS

Well-known member
Dec 2, 2013
5,144
1,914
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The markets are acting very strange, I think the only thing keeping the economy from collapse is the talk of stimulus in the USA. If US does not get stimulus soon I think we will soon be in interesting times.
Stimulus will happen after the election for sure!!!
 

nottyboi

Well-known member
May 14, 2008
22,447
1,325
113
If you can get your hands on any precious metals such as gold bullion or even silver, buy it up. I went to EDI Refinery and bought whatever fractal gold he had on him. The guy told me he can't hold on to the stuff. It's all getting sold as soon as it comes in. Could come in handy if the value of the dollar craters.

At this point govts are struggling to re-inflate crippled economies, with the current economy inflation is not likely to rise much. Wage increases wiill not happen, and producers have no pricing power. Money printing is a substitute for circulation, kinda like how you add blood to a patient that is bleeding out. If the markets crash again then PM will like will go down again..in the longer run, however I think PM is a great investment.
 

nottyboi

Well-known member
May 14, 2008
22,447
1,325
113
If you can get your hands on any precious metals such as gold bullion or even silver, buy it up. I went to EDI Refinery and bought whatever fractal gold he had on him. The guy told me he can't hold on to the stuff. It's all getting sold as soon as it comes in. Could come in handy if the value of the dollar craters.

At this point govts are struggling to re-inflate crippled economies, with the current economy inflation is not likely to rise much. Wage increases wiill not happen, and producers have no pricing power. Money printing is a substitute for circulation, kinda like how you add blood to a patient that is bleeding out. If the markets crash again then PM will like will go down again..in the longer run, however I think PM is a great investment
 

Gstep

Well-known member
Dec 15, 2018
737
1,065
93
I am holding off on buying in right now as it will soon be a rough ride after the US presidential election. Trump may refuse to leave office claiming that the election was rigged. They might have to send in the swat team to taze him and cause him to soil his presidential briefs. Now is not a good time to put money into the market.

Let me tell you a little story ceiling cat,

At the beginning of the pandemic I cashed out. It was right after those first two consecutive days -1000 dow days. I went from 95% stocks to 90% cash, after losing about 10%. Smart move right? Then I did something even smarter, I cashed in on the crash, first by buying a VIX ETF and then a leveraged inverse dow ETF. Then suddenly then the market bounced back a little, I cashed out again and at this point and was up almost 50% pre pandemic. The however market kept climbing. Unrealistic I thought we're only 2 months into the pandemic, time to double down on the inverse dow and I went all in hoping to become a millionaire. What did the market do? Exactly the opposite of what I thought it would, kept going up. 22000, 23000, 24000... My holdings were down 50%, all my gains evaporated and then some. I felt completely crushed, literally couldn't sleep for a week until I finally made the decision to sell go long again. Best move I could've made, funny enough the market drop a bit at first and I lost another 20% but after that they started rising once more and I recuperated all my loses and then some. Least until this week, now I'm back to exactly where I was pre-pandemic lol. Basically I went from 100% to 90% up to 150% then all the way down to 75% before bouncing up again to 110% and now I'm back at 100 % again. Hundreds of thousands coming and going.

The point; All that time effort and stress from trying to time the market amounted to precisely NOTHING.

So what am I doing now? NOTHING. Staying long, not touching anything and not panicking, not one bit.


Short term the market will go up and it will go down. But long term? it always goes up. The only way it will ever go down and stay down is a civilization ending event and if that happens... well your not going to be worrying about retirement, your going to be worrying about survival.

Moral of the story don't sell and don't try to time the markets. You snooze you could easily lose; https://www.cnbc.com/2020/03/07/when-you-sell-during-a-panic-you-may-miss-the-markets-best-days.html
Unless you were planning to retire soon just play the long game and you'll come out alright. So just take a chill pill ceiling cat and ride out the storm ;)
 
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