Black Monday

[Entrep]

23 March 2020 - what do you reckon - I think this is fear?

That was when the market was dumping. That was fear and was the time to buy (compared to prices today). Now US is roaring back to 2019 prices in the opposite direction, which I feel is greed given the whole outlook.

[Balance]

Held my nerve must say, didn't do anything with my portfolio as far as selling or buying. Down a bit on few stocks, but overall not too bad as of now.

Good on you, sb9.

Today is the time to let go of a few if anyone is uncomfortable and having sleepless nights with the size and nature of their investment portfolio.

Nothing is worth sleepless nights as health (physical & mental) is everything imo.

[Aaron]

Stockmarket 101 - market prices risk & reward ahead, not backwards.

Governments have already boldly stated that they will not allow their economies to fall into depression - if need be, they will pump all the money needed to achieve that aim.

That's why the worse than expected unemployment number is considered 'good' news ion that respect.

Many of the petrified investors & posters have not thought through the implications of what that mean - think about it.

It has profound implications for the money you have in the bank or in your mattress.

I wish I had your conviction, still hoping for another leg down based on past crisis. That said I have waited over a decade for the next leg down in the 2008/09 crisis.

Is there worse economic news to come, still seems like early days to me.Central banks going full retard, at what point will there be a loss of faith in currency? Everyone getting out of dollars and into shares would indicate a loss of faith already. Damn you Balance I was happy waiting a couple of months, now I am not sure again.

[Lewylewylewy]

I expect the nzx to level out for a while before the situation develops and people have new information about the outlook.

[Zaphod]

Unfortunately I fear that the worst is still to come in the US. I sold down in a few stocks, but will stay out of the market until things stabilise.

[Balance]

Play this if the market is getting you down :

https://www.youtube.com/watch?v=5rOiW_xY-kc

You are not alone!

[Balance]

Market has now gone up 20% from the low, this could be the last day of the rally, and a good second chance to remove any portfolio dogs.

Remember that 20% up from 60 is not the same as 40% down from 100!

I would certainly take the opportunity today to switch out of stocks which are unlikely to recover too well post-virus and put into stocks which would recover.

To each their own.

[Entrep]

Anecdotally I've been hearing massive institutional selling from brokers and my wife tells me FB is full of people wanting to buy shares because they are cheap.

[Balance]

Anecdotally I've been hearing massive institutional selling from brokers and my wife tells me FB is full of people wanting to buy shares because they are cheap.

FB people do not determine the direction of the market - the institutions do.

Many stocks were oversold - that's why the market is going up. As simple as that imo.

[see weed]

I wish I had your conviction, still hoping for another leg down based on past crisis. That said I have waited over a decade for the next leg down in the 2008/09 crisis.

Is there worse economic news to come, still seems like early days to me.Central banks going full retard, at what point will there be a loss of faith in currency? Everyone getting out of dollars and into shares would indicate a loss of faith already. Damn you Balance I was happy waiting a couple of months, now I am not sure again.

Have some fun trading while you wait. Bought 15000 MEL on close yesterday to get the div. but decided to sell them and made over double the div. 19c profit for 10 min work.