MARKETS,Anybody even yet?

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olds442jetaway
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Re: MARKETS,Anybody even yet?

Post by olds442jetaway »

PS……I tried being a day trader for a couple of years 18 years ago right after retirement. For anybody considering it, be prepared to lose all of your hair like me and have a tax return that resembles a small phone book! :lol:

Eduardo
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Post by Eduardo »

Nobody likes a down day, but ups and downs are all part of the market. The Dow is still up 12.4% for the year and around +80% over the past 5 years. Unless someone bought all their stocks a month ago, they should be just fine.

olds442jetaway
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Post by olds442jetaway »

That’s fine for some people, but seniors and retirees unless they are made of money just cannot afford the risks at this point. The unfortunate part about that is inflation is 6 percent or more and personally I think more and banks are paying 0.00001 on savings. Not a good scenario for retirees.

Eduardo
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Post by Eduardo »

Very tough scenario, especially the inflation. Largely because most retirees DON'T have much in stocks for the most part, and shouldn't because a more extended dip could take longer to recover than recent events. Better to play it safe. My only point was, a 2% or even 10% dip is largely expected at this point, so not worth fretting about, especially after the recent gains. You likely wouldn't have had that 2-10% to begin with except for the unusually strong (and probably overrated) market.

I personally am not optimistic about the next year. Of course, I would have said the same on several recent years and been completely wrong. Nobody really knows when it will really hit the fan again.

While I'm not pulling any stocks, I've moved some of my cash into bonds. Which have generally been terrible of late! But I was recommended some 7% bonds through the treasury direct site, and that seems like a generous and safe place for money to sit for a time. 7% is pretty incredible actually these days, though the rate will adjust eventually and I'm not sure how long I will hold it. One of the best safe plays I've seen in a long time though, up to $10,000 invested through next april via the U.S. Treasury.

https://www.forbes.com/sites/isabelcont ... 24c0c4371a

olds442jetaway
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Post by olds442jetaway »

Thanks for the link. I will check it out. I will take 7 percent any day of the week

FAA
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Post by FAA »

In September, I bailed on my declining basket including Disney at $182. It really is a bellwether for the economy in general, as I’ve heard. DJIA hasn’t moved since!

Eduardo
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Post by Eduardo »

Wow, getting out of Disney at 182 looks like a brilliant call in hindsight. Well done. :)

olds442jetaway
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Post by olds442jetaway »

Ditto. My bro and sister bailed at 178 and 180 based on my advice. For now, I’m holding the bag!!

FAA
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Post by FAA »

What a shrewd gambit. Physician, heal thyself! :lol: I’m a bit surprised that the Dow is where I left it ten weeks ago. It looked very grim. Meanwhile my former ETFs (performance wtf) have continued to sink like a stone. Glad to be out of Dodge.

olds442jetaway
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Post by olds442jetaway »

You can add Tesla to my recent mistakes. Luckily I only bought 2 shares. Two too many. Back to my dividend plays. And if I sell Tesla and Disney for a tax write off, It will help a bit, but won’t touch my Greedy States ability to tax me on Gross gambling winnings with no writeoff ability. Now that’s something that should be against the law! Gambling winnings and losses should be treated no differently than trading stocks except for maybe not give them the favored Capital Gains Tax treatment. Fat chance of that happening!

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