Financial Markets Meltdown

[bdub]

Originally Posted by Pixel Shooter

Biggest drop in a long time. Be an interesting week. Would like to see more red and bigger correction 🙂

You may get your wish.
The SP500 has only experienced a day where it lost more than 4% and recovered to end the day positive only two other times since 1977. Both times in October 2008. I remember that year lol.

October 16/08 intraday down -4.63%, closed up 4.25%.
October 23/08 intraday down -4.28%, closed up 1.26%.
Info from Bianco Research.

Shopify swung 23% today.

BOC rate decision and FED meeting this week. Market is busting there chops. See what they do/say in reaction to this selloff coming up. It could go big in either direction depending.

[straight]

Originally Posted by KGB

What a chit show today! I started the day with -$50K and ended up with +4K….
Will have to check some slow and steady stocks, I’m getting too old for that kind of the excitement!

I'm on the opposite side - I feel like I'm young and smart again. I did pretty good today, 40% invested. Expecting more fun during next two weeks.

[fishtank]

Originally Posted by Drewski Canuck

Thank you Sovereign Funds for propping up the Markets!

There is no way that Private Investors have driven this late hour surge in prices.

Whether it was Alaska's Fund, or AIMCO, or Norway, or CPP, I thank you for salvaging today. It is only these huge players who can move the market that fast.

Tomorrow may be a different day but we will have to wait to see what happens.

It is clear that alot of Crypto money has come back to the Stock Markets, so that helps as well.

Drewski

Pretty sure people and funds are working overtime on deleveraging ….read on the weekend that over 1.3 trillion dollars worth of options expired . There will be more big swing days coming .

[Dean2]

If you guys are up at 7:30 you can buy some top quality stocks cheap and pick up 5 to 10% by the end of the day. I am not generally a day trader but this action is just too hard to pass up. Worst that happens is if it doesn't recover today I got some of my top picks at a discount. Man i love when the panic sets in.

I made enough buying in at 7:30 then selling sitting here in the waiting room at Redwater Dodge to pay for the oil change, new tires and second set of factory rims they are mounted on. Now I call that a great service experience. 😁

[CDN offroader]

Originally Posted by Dean2

If you guys are up at 7:30 you can buy some top quality stocks cheap and pick up 5 to 10% by the end of the day. I am not generally a day trader but this action is just too hard to pass up. Worst that happens is if it doesn't recover today I got some of my top picks at a discount. Man i love when the panic sets in.

I made enough buying in at 7:30 then selling sitting here in the waiting room at Redwater Dodge to pay for the oil change, new tires and second set of factory rims they are mounted on. Now I call that a great service experience. 😁

Agreed, red days are buy days. Love getting in on the sales.

[CDNOutdoorsman]

Originally Posted by Dean2

It is never optimal to be in only one stock but if I hand to pick only one to put all my money in longterm it would be RBC or TD Bank. Not anywhere close to what I recommend for an investment strategy but it is the honest answer to your question based ONLY on what I would do personally in the condition.

Thanks for the tip Dean, appreciate it.
I do already have TD and BMO in my portfolio, just looking to see if there was anything else out there that I should consider pcking up.
Any of you guys use Vector Vest? If so, what are your thoughts, good/bad/ugly.

Thanks

[Dean2]

Originally Posted by CDNOutdoorsman

Thanks for the tip Dean, appreciate it.
I do already have TD and BMO in my portfolio, just looking to see if there was anything else out there that I should consider pcking up.
Any of you guys use Vector Vest? If so, what are your thoughts, good/bad/ugly.

Thanks

If you are looking for options, have a look at the spreadsheets I posted. Study those and see if any fit your investment goals and risk tolerances. Most are sub 1 beta so if you have an aggressive investor profile may not be your cup of tea.

[lmtada]

Originally Posted by Dean2

If you guys are up at 7:30 you can buy some top quality stocks cheap and pick up 5 to 10% by the end of the day. I am not generally a day trader but this action is just too hard to pass up. Worst that happens is if it doesn't recover today I got some of my top picks at a discount. Man i love when the panic sets in.

I made enough buying in at 7:30 then selling sitting here in the waiting room at Redwater Dodge to pay for the oil change, new tires and second set of factory rims they are mounted on. Now I call that a great service experience. 😁

Stay longer and buy new truck. 🥃

[Dean2]

Originally Posted by lmtada

Stay longer and buy new truck. 🥃

now that was good !

[Dean2]

Futures on all markets strongly green this morning. May not get to play wack a mole today.Have to wait and see if the Bank of Canada announcement brings any opportunities or whether that is already baked in. VIX is still around 30 so volatility is still fairly high.

OH well, has been good fun the last few days.

U.S. Stock Futures
S&P +60.25 / +1.39%
Level 4,409.25
Fair Value 4,347.68
Difference 61.57
Data as of 7:37am ET
Nasdaq +271.00 / +1.92%
Level 14,411.75
Fair Value 14,134.12
Difference 277.63
Data as of 7:37am ET
Dow +357.00 / +1.04%
Level 34,542.00
Data as of 7:37am ET

[bdub]

BOC decision at 8 this morning and then we get the FED minutes at 10 and Jay Powell flapping his lips at 10:30. The Bank of Canada has wrapped up their bond buying program ahead of the States. Now to see if they are gonna start the year with a rate increase or kick it down the road a bit yet. The real mover will be the FED minutes and what Powell has to say. Should be an interesting day.

[Justfishin73]

BOC and FED rate increase of 25 basis point coming, but it is absolutely priced in already

[Dean2]

Originally Posted by Justfishin73

BOC and FED rate increase of 25 basis point coming, but it is absolutely priced in already

It is what I am expecting too, what could shift it is if one or both chicken out and postpone the rate hikes. Like bdub said, should be an interesting day.

[bdub]

Sorry. 12 and 12:30 for the Fed. Coffee not fully engaged.

[Dean2]

Man, the Bank of Canada is truly pathetic. We have runaway inflation that is only getting worse, and for them "not prudent at this juncture" to start raising rates, lets just signal we will sometime in the future. Tells me they aren't positive the U.S. will raise rates and they are waiting for them to move first.

[elkhunter11]

Originally Posted by Dean2

Man, the Bank of Canada is truly pathetic. We have runaway inflation that is only getting worse, and for them "not prudent at this juncture" to start raising rates, lets just signal we will sometime in the future. Tells me they aren't positive the U.S. will raise rates and they are waiting for them to move first.

They basically said nothing, other than they will wait and see, not unexpected.

[Map Maker]

I’m enjoying the chess game between Russia and the West.
One shot gets fired and markets will tank.
Reminds me of Oki.

I know Russia was filling up there strategic reserves of oil during the downturn.
USA is playing hardball because they don’t rely on Russia for much.
Don’t think Russia thought this thru enough.

Markets see it as all posturing.

[KGB]

Originally Posted by Dean2

Man, the Bank of Canada is truly pathetic. We have runaway inflation that is only getting worse, and for them "not prudent at this juncture" to start raising rates, lets just signal we will sometime in the future. Tells me they aren't positive the U.S. will raise rates and they are waiting for them to move first.

I think liberals control them. If rate goes up, so is the government debt. So is the mortgage rates and that will call for lots of issues on a housing market in Ontario and down east. That would be a negative impact on a Turd government. CPC just sitting and waiting to start screaming bloody murder when liberals loan payments go thru the roof and cost of living increases again.
Pure political play me thinks….

[fishtank]

It’s only a matter of when…. March ?

[DiabeticKripple]

Originally Posted by Map Maker

I’m enjoying the chess game between Russia and the West.
One shot gets fired and markets will tank.
Reminds me of Oki.

I know Russia was filling up there strategic reserves of oil during the downturn.
USA is playing hardball because they don’t rely on Russia for much.
Don’t think Russia thought this thru enough.

Markets see it as all posturing.

I was reading that Russian financials are the best they've been in a long time, and their military is the strongest its been since the Cold War.

i think its all just posturing and nothing will come of it, but a few dead troops will sure shock the markets.

Im a long term guy, so hoping for oil stocks to trend up for the next while. Im very heavily weighted in energy.

[Justfishin73]

Originally Posted by Dean2

Man, the Bank of Canada is truly pathetic. We have runaway inflation that is only getting worse, and for them "not prudent at this juncture" to start raising rates, lets just signal we will sometime in the future. Tells me they aren't positive the U.S. will raise rates and they are waiting for them to move first.

Astonished BOC didn't raise rates

[bdub]

What the hell did Powell say to wipe off 3% to 1.5% gains in a flash. Have to listen.

Wonder what the central banks would do if they are thinking possible war in Europe? Hold till spring just in case despite inflation out the ying yang. What the heck can they be thinking.

[nelsonob1]

Originally Posted by Justfishin73

Astonished BOC didn't raise rates

Mind blowing

[fishnguy]

Originally Posted by bdub

What the hell did Powell say to wipe off 3% to 1.5% gains in a flash. Have to listen.

Probably because they didn’t raise the rate? Tomorrow is probably going to be pretty red because of that too. Will see.


Very much doubt there will be war in Europe, but if there is, doubt they would be able to catch up to inflation.

[ward]

Originally Posted by bdub

What the hell did Powell say to wipe off 3% to 1.5% gains in a flash. Have to listen.

Wonder what the central banks would do if they are thinking possible war in Europe? Hold till spring just in case despite inflation out the ying yang. What the heck can they be thinking.

He hinted at a potential rate hike every meeting for the remainder of the year. Which was seen as overly aggressive by the market.

[Map Maker]

Originally Posted by DiabeticKripple

I was reading that Russian financials are the best they've been in a long time, and their military is the strongest its been since the Cold War.

i think its all just posturing and nothing will come of it, but a few dead troops will sure shock the markets.

Im a long term guy, so hoping for oil stocks to trend up for the next while. Im very heavily weighted in energy.

Not sure if Russia would show anything but strong financials or anything else. Just their way to say what they want the free world to believe, behind the iron curtain.
I think they would be hurting if sanctions started as they are pretty much alone in the world.
As you can tell, I’m not a fan of Russia.

USA is ramping up pressure by threatening to shut down Nord 2 Pipeline.
I’m impressed how Biden admin is pushing Russia.
Will be interesting to see Russia’s next move.

[KGB]

Originally Posted by Map Maker

Not sure if Russia would show anything but strong financials or anything else. Just their way to say what they want the free world to believe, behind the iron curtain.
I think they would be hurting if sanctions started as they are pretty much alone in the world.
As you can tell, I’m not a fan of Russia.

USA is ramping up pressure by threatening to shut down Nord 2 Pipeline.
I’m impressed how Biden admin is pushing Russia.
Will be interesting to see Russia’s next move.

I am not a fan of Russia or Putin but let me say that there is no iron curtain there anymore. You can come and go as you pleased and there is no news suppression ( unless it’s a government channel propaganda). You can stand on a Red Square and scream F@$c Putin until you turn blue…
Unfortunately, half-wit Biden is not match to Putin. If Russia decides to turn off the gas pies to Europe- it will be it for Europe, that’s why Biden will never shut down Nord 2…. All he can do is bark like a good dog he is and then go to the corner and lick his balls…

[Map Maker]

Originally Posted by KGB

I am not a fan of Russia or Putin but let me say that there is no iron curtain there anymore. You can come and go as you pleased and there is no news suppression ( unless it’s a government channel propaganda). You can stand on a Red Square and scream F@$c Putin until you turn blue…
Unfortunately, half-wit Biden is not match to Putin. If Russia decides to turn off the gas pies to Europe- it will be it for Europe, that’s why Biden will never shut down Nord 2…. All he can do is bark like a good dog he is and then go to the corner and lick his balls…

Oh Kasparov, I think you are falling right into USA’s trap. If Putin even mentions threatening the EU energy stability, that would be just cause for US to do something.
I don’t understand why the US is threatening sanctions on Putin personal finances. I think because the USA has information of something they can use against Putin ( ie terrorist funding).
This is very reminiscent of Suddam Hussein but Putin is a match for the US.
They are trying to get the world against him.
I got respect for Putin. He could be drawing the US into a trap as well.

[Drewski Canuck]

"Oh Kasparov, I think you are falling right into USA’s trap. If Putin even mentions threatening the EU energy stability, that would be just cause for US to do something."

Welllll, a ground war in the Ukraine would mean the destruction of the gas pipeline carrying Russian Gas to the EU. So just the threat of war un Ukraine is a threat to energy stability in the EU.

If it is direct targeting of the pipeline network that the Ukraine gets alot of its own natural gas from, or collateral damage from errant fire, there will be no pipeline for Natural Gas to Europe.

So the US has a reason to do something. Now lets see them commit to doing something before it is too late.

Drewski

[Onesock]

Canada has chipped in. Trudeau has sent 25 guys!!