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Supreme kudos to those who timed their purchases around that Monday where it bottomed out.
 



MplsGopher said:
I think there's no chance Dow goes below 20k again, any time soon.
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No chance? I'm becoming more and more convinced we'll test the March 23rd lows. I've timed everything almost perfect (I should have bought the whole way back in on March 23rd instead of only 75 % then 25% a couple weeks later on that 2nd dip) but don't think I can get that lucky again and will probably just ride out whats coming. Probably do some day trading with my side account. Have already done that with some travel stocks and am making a killing.
 

Bad stuff has been announced on the news like every day since the low, yet the Dow is maintaining a general upward trend.

I think that: most everyone who was looking to get out, already has got out, at some point in the crazy free-fall.

If there's not a large contingent of people looking to get out, then the price can't crash again?

Right? I'm sure I'm missing something or over-simplifying things.
 


bottlebass said:
No chance? I'm becoming more and more convinced we'll test the March 23rd lows. I've timed everything almost perfect (I should have bought the whole way back in on March 23rd instead of only 75 % then 25% a couple weeks later on that 2nd dip) but don't think I can get that lucky again and will probably just ride out whats coming. Probably do some day trading with my side account. Have already done that with some travel stocks and am making a killing.
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I've went to about 75% cash in all accounts inc. retirement/401's. This is going to get a lot uglier when earnings start rolling in. I'd say chances are pretty good we'll retest the recent lows- and likely go lower. Scary times for retirees relying on fixed income/dividends. I wouldn't surprised if it took years to get back to Dow 29k
 

LesBolstad said:
I've went to about 75% cash in all accounts inc. retirement/401's. This is going to get a lot uglier when earnings start rolling in. I'd say chances are pretty good we'll retest the recent lows- and likely go lower. Scary times for retirees relying on fixed income/dividends. I wouldn't surprised if it took years to get back to Dow 29k
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I'm not as doom n gloom as you... yet. I still think we can bounce back fairly quickly. If you have been in cash the last month you have missed out on some major money. Had over 70% return on multiple stocks in the last few weeks, in the positive for the year in my retirement (I work for a non profit so it's a 403b). Unless you pulled out to cash back in february you'd probably have been better off just letting it ride.
 

MplsGopher said:
Bad stuff has been announced on the news like every day since the low, yet the Dow is maintaining a general upward trend.

I think that: most everyone who was looking to get out, already has got out, at some point in the crazy free-fall.

If there's not a large contingent of people looking to get out, then the price can't crash again?

Right? I'm sure I'm missing something or over-simplifying things.
Click to expand...
It can crash again. I think there is just a good a chance we see a rapid recovery as we see a giant crash which is why I'm riding it out. Most likely we'll see some ups and downs and have a "slow" recovery over a year or 2. I say "slow" because it's not a V shape rapid recovery but it would still be fast historically for the damage we are intentionally doing to our economy
 

Im nonplussed as to why the stock market hasn't dived deeper in the wake of a forecast Depression.
 



LesBolstad said:
I've went to about 75% cash in all accounts inc. retirement/401's. This is going to get a lot uglier when earnings start rolling in. I'd say chances are pretty good we'll retest the recent lows- and likely go lower. Scary times for retirees relying on fixed income/dividends. I wouldn't surprised if it took years to get back to Dow 29k
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Have you’ve went to cash? That’s Good!
 



I think the overall market hit bottom already at 19K. Certain industries {airlines, restaurants etc.} have not. If the 2nd wave in the Fall is worse than the 1st, it might fall further. But I don't think that will be the case.
 



OldBob53 said:
Im nonplussed as to why the stock market hasn't dived deeper in the wake of a forecast Depression.
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Stock market looks ahead many months, maybe half a year. It’s been fairly optimistic. Personally, I’ve been agnostic on the near future. However, after seeing Georgia’s covid-19 cases going up pretty alarmingly (in my opinion) after their opening up the state has me a bit nervous (regarding the stock market). I think I‘m following bottlebass’ instincts and at least going 50% cash for awhile.

Edit: After seeing Sweden’s numbers (I posted them in the main virus thread), I’m not as pessimistic, probably will go 25% cash this week.
 
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