Dow Sees Biggest-Ever One-Day Plunge, Closes down 2,013 points on coronavirus fears.

it was the most points , but not the largest drop percentage wise which is what counts .... the biggest drop in a day that inflicted the most damage was oct 19 1987 clocking in at a whopping 22% ..... that makes the 8% drop yesterday a walk in the park in comparison .

no one can even guess this bottom .
 
i think that opec will have to reach an agreement ... it makes no sense to have to handle and ship more product at lower prices to make the same profits ....

i think as a long term investment oil is going the way of blockbuster and kodak ...what was once in short supply and scarce is abundant today as technology made to much supply ...

technology has also cut demand big time .... personally i would not be a long term investor in it ...

it will see a short term pop up though .
 
as my long term investments i don't buy individual stocks .. i buy etf's and mutual funds for diversification ...i don't need to take on both market risk and individual company risk at this stage .

not only do you need to understand everything about the stock you pick , but you need to better know everything about their competitors too
 
Robert59 said:
I would like to see Amazon and Google drop so I can afford to buy it. What do you think about the oil and gas stock prices?
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You can buy it now...just buy fewer shares...Or would you rather see others loose value on their portfolio to open an opportunity just for you?
 
for many older investors our portfolios pretty much have full fuel tanks at this stage .... getting little bits of money in at crash levels can be like peeing in the ocean ... in the scheme of things it won't add much , but the damage done to the bulk of the money could be awful in comparison .

so be careful what one wishes for
 
mathjak107 said:
so be careful what one wishes for
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Amen! I suspect the markets will be suffering from "whiplash" for the next few days/weeks....perhaps even months. Today, the markets started out well into the Green at the opening, but are already sliding downwards....with the NASDAQ solidly into the Red. There is so much uncertainty going on that any attempts to time this market would be almost futile. Diversity into conservative investments will probably be the Best way to avoid major losses during this mess. It took about a year for the markets to stabilize during the financial crisis, and this situation could be similar.
 
mathjak107 said:
for many older investors our portfolios pretty much have full fuel tanks at this stage .... getting little bits of money in at crash levels can be like peeing in the ocean ... in the scheme of things it won't add much , but the damage done to the bulk of the money could be awful in comparison .

so be careful what one wishes for
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mathjak107 said:
it was the most points , but not the largest drop percentage wise which is what counts .... the biggest drop in a day that inflicted the most damage was oct 19 1987 clocking in at a whopping 22% ..... that makes the 8% drop yesterday a walk in the park in comparison .

no one can even guess this bottom .
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If I remember correctly, what happened on that day in the markets is what brought about the circuit breakers, which is an attempt to prevent a market crash.
 
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mathjak107 said:
i think that opec will have to reach an agreement ... it makes no sense to have to handle and ship more product at lower prices to make the same profits ....

i think as a long term investment oil is going the way of blockbuster and kodak ...what was once in short supply and scarce is abundant today as technology made to much supply ...

technology has also cut demand big time .... personally i would not be a long term investor in it ...

it will see a short term pop up though .
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At one time I belonged to an investment group. We often bought futures, including oil, some agriculture stuff and commodities, but that was back pre 1980 when markets were more stable. The landscape or make-up of the markets have done a complete make-over since those days, mainly thanks to technology. We had a few people in our group that were as sharp as a tack. We traded futures and individual stocks on both the NYSE & the NASDAQ. We also got into hedge funds, which at that time were very profitable, if you made good choices.

We didn’t really have a strategy. There was one member of the group that was big on charts. He would chart a stock for weeks before recommending it. When he did, he would get out all his charts and show us how the stock performed over 100 days and from that come up with a moving average. Actually, what he was doing was trying to time the stock when it would peak. I don’t remember him ever being on target, but he did help us make money.

Then, we took in a broker from Merrill Lynch. It was then that they started going global and also trading currencies that I decided to cash in my chips and go home. It got to be too much. The group is still together today. At that time, we were called Penn State Investment Group, but now it has another name and has added about 30 more members for a total of maybe 75. They also incorporated as an LLC, which when I was a member, we weren’t.
 
The market is over-inflated and too high based on no solid reasoning at all. It's been doomed to crash somewhat for awhile now. Near 30,000 is not rooted in reality.
 
I'd like to pose a question. The market supposedly is better today at least in part because of Trump's comment about cutting payroll taxes.
I don't understand how cutting payroll taxes helps workers unless there's a corresponding cut in income taxes.

Am I missing something?
 
StarSong said:
I'd like to pose a question. The market supposedly is better today at least in part because of Trump's comment about cutting payroll taxes.
I don't understand how cutting payroll taxes helps workers unless there's a corresponding cut in income taxes.

Am I missing something?
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cutting any tax , that gives a worker more in his check is the same as cutting income tax .... the amount taken out will be reduced
 
Payroll taxes are those taxes that are collected through payroll deductions. Like. Income tax, SS tax, etc.
 
mathjak107 said:
they are cutting the dividend . earnings are negative .....this is an example of no profit but dividends are still paid driving the share price lower as each payment is subtracted off the share price .
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According to Market Watch, OXY raised their dividend to a record of 25%. Is that correct?
 
oldman said:
According to Market Watch, OXY raised their dividend to a record of 25%. Is that correct?
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No , the dividend yield is 25% because of a falling share price .... that is not raising a dividend ..the. Dividend was just cut...

if a stock cost 100 dollars and the dividend is 10 dollars that is a 10% yield ....if the stock falls in price to just 50 dollars and the dividend is the same it is a 20% yield ....that is not a good thing.

Occidental Petroleum Corp. OXY, 9.752% shares were halted in Tuesday trading after the energy company announced that it was slashing its dividend to 11 cents per share from 79 cents per share, effective July 20

https://www.marketwatch.com/story/o...tock-halted-after-dividend-slashed-2020-03-10
 
It's only the same as cutting income tax if they cut income tax at the same time.

If the brackets and rates remain the same as they are now, it's no different from claiming more dependents and having to pay the difference when doing one's taxes. Is he framing it as "reducing payroll taxes" when he's actually hoping to reduce income taxes?
 
StarSong said:
It's only the same as cutting income tax if they cut income tax at the same time.

If the brackets and rates remain the same as they are now, it's no different from claiming more dependents and having to pay the difference when doing one's taxes. Is he framing it as "reducing payroll taxes" when he's actually hoping to reduce income taxes?
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Not correct .....fica is taxed as part of our income

so if you earn 100 dollars 100 is taxed as income even though roughly 6.50 goes for fica of that 100 .we pay taxes on the tax so to speak .

now you would you still pay the same tax on 100 dollars like before but only 4.50 goes to fica ...you net 2 dollars more in your take home with no additional income tax since you pay taxes on 100 regardless
 
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StarSong said:
It's only the same as cutting income tax if they cut income tax at the same time.

If the brackets and rates remain the same as they are now, it's no different from claiming more dependents and having to pay the difference when doing one's taxes. Is he framing it as "reducing payroll taxes" when he's actually hoping to reduce income taxes?
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I have to be truthful. Taxes confuse me, thus the reason why I use a CPA firm to do my quarterly returns. My wife and I have fairly decent size trust funds that are managed by a guardianship. Last year, our taxes were basically little to no change from previous years. This year, I received an estimated review of the trusts from the CPA firm and is shows that my taxes will more than likely rise more that I like, however, considering how the market has performed its no wonder. Overall, the trusts will increase somewhere between 8-12%.
 

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