wow boeing down 8% today, man this stock has gotten slaughtered, pretty much 50% down from its 52 week high, wow.
We probably won’t find the bottom until the volatility is down a bit Bulls shouldn’t be rooting for a day like yesterday, we would be a lot likely to find the short term bottom if the market moves 1% or 2% rather those wild 4% to 5% move Unfortunately the virus seems to be spreading in the US, let’s hope we get lucky and it doesn’t get much worse. I still hear a lot of people joking that it is just a flu, it would help if people take it more seriously
^^ this 1000000000000000000000000000% and to make matters worse here, i just got a call early this morning that my aunt who lives in cali has come down (positive) with COVID-19. i was like srsly wtf? needless to say, i was quite stunned and saddened to learn of this news today unfortunately, i may need to break/pause from the forums/online activity for at least a week maybe longer idk, because quite frankly (and i really do not want to sound like i'm overreacting here or nothing...i try my best to keep my emotions in check) but truth it be told here, this news really has hit home for me in a big way... when this crap is happening to someone in your immediate family then shit gets real =/ stay healthy my friends! it's going to be a little treacherous out there for a bit while longer unfortunately it would seem... hoping the summer season arrives already! as i hear it hot weather is good news to fend off this fuckin' virus. will get a update on my aunt's health a bit later today, and we'll see how she's doing. if god forbid things really turn for the worse as i am fearing, then i would probably need to step away for a bit as well.
thank you so much for that @stock1234 and the same for you and your family/friends as well. going to try my best to just go about my day as if i did not learn of this news (albeit knowing full well in the back of my mind how that will be nearly impossible to do), but can't worry too much about the things that are out of my control. anyway, my apologies for using this thread to share this news. will use our official covid-19 outbreak thread to resume this discussion. meanwhile, i haven't really been following the market action much today largely due to the news i had shared with you all above. curious to see how this day ultimately ends. looks like we are teetering on bear territory (-20%) for the big 3 indices. small cap russ2k and trannies are already in bear now though.
wow was not aware of this myself, but before yesterday's bounce back in the 10-yr bond yield, it had been down for 13 days in a row. that had never happened before. the previous record losing streak was 9 days in row that happened 3 other times. march of 2000, sept. of 2002, and nov 2009.
not sure if i had shared this chart in here. this one is from stock trader's almanac. basically shows all the noteworthy corrections in the market since 1950 (this one is using the DJ30) and the subsequent recovery back to the highs. where the average length of the correction was around 2.5 months with an average decline of about -19%. average length of time to get back to highs being around 5 months.
yep, i think generally the "intraday" print below -20% off the ATH is not what they count to be an "official" bear market, but rather where the market closes. so, if things should stay put here, or even worsen into the close today, and we actually "close" -20% from ATH and not just do it on an intraday basis, then we'll officially be in a bear, and obviously would end the 11-year bull run at least "officially" anyway.
Pretty amazing we managed to close above of bear market territory for the last 11 years despite we got extremely close to it for a few times at least
indeed! i know for a fact that we did actually cross into bear territory (-20% from the peak) on an intraday basis in the SPX back during the "xmas eve massacre" correction in 2018. but we never did officially "close" -20% at the low. it was something like -19.86% if my memory serves me correct funny thing too is, the same exact thing played out back during the 2015 market correction as well, during the height of the china yuan devaluation if you guys recall. and it also happened during the 2011 correction during the debt ceiling fiasco. both of those corrections i believe went over -19% but just narrowly missed the -20% mark on a "closing" basis
please be safe and i hope things get better for your family. and i totally agree, people around me and on facebook are just blowing it off, saying its a conspiracy or its just a cold, etc etc. but its having real impacts on the economy and on people's lives, whether you believe its a real pandemic or its bull or whatever, the fact still remains its having a huge impact and you must respect it and be cautious. this might be it for the market, cause i dont see fundamentally how companies bounce back from this in the short term.
Still long way to go but we might see another DOW down 2K day For now it looks like we will close 20% from the ATH and officially entering into a bear market Pretty amazing how fast we go from the ATH to a bear market if it indeed happen
I hate to hear this. There is some older people who are getting over this, so there is hope: https://nypost.com/2020/03/08/100-y...ronavirus-the-oldest-patient-to-beat-illness/ https://nypost.com/2020/03/02/98-year-old-chinese-woman-cured-of-coronavirus-in-wuhan/
i'd have to go look this one up, but pretty sure this would be one of the fastest ATH to -20% (bear market) in history. i think we're currently like 14 days in since the ATH on the SPX right? this is unconfirmed here but i think it's gotta be something at least over 20 days or more right? if that is the case, then yes this would be a new record will check to see if i can confirm this for ya later today.
