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Highwayman. my banker suggested doing the same today. Day traders should be banned. All purchases should be for at least 30 days. Enough knee jerk reactions. Be in it for the long run.
 

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Not selling. Buying.
Yep.
I had been 100% in an S&P 500 fund (The TSP C fund, for other feds) since shortly after the tech bubble burst, up until about a year ago. Getting close to retirement, thought stocks were overvalued, so moved into a 2020 LifeCycle fund.
Just moved 20% of it back to C fund. If stocks are lower in a week I'll move another 20%.

Overall, I view market timing as a fools game, but there are very rare instances where I think it makes sense. Time will tell if I should quit thinking. :)
 

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RichDesmond,
As I have shared before- I got out of the market when the Dow was a little above 20,000. I have been watching closely, and I have a feeling the bottom is coming very soon. I got out three years ago, because I am approaching retirement. This may be a very rare time to jump back in, due to such unusual circumstances. Somehow I feel that with such a drop in value, coupled with pent up expectations, the marketvwill rebound close to its' old highs. I don't feel the risk is as great due to the history as to how we got to this level. We shall see.
 

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Discussion Starter #28
All my experience and all my reading (many, many hours per day), and everything I'm seeing on TV says this is NOT the time to sell stocks. But that's just me and my situation.

I'm looking to get reasonably close to the bottom, not pin it and buy! Yesterday would have been a good day to buy. The S&P 500 futures hit the up stop last night. The S&P should start 5% higher than yesterday unless congress screws up a sure thing again. Word is that it is finally a done deal.

However, May and April are expected to be worse from a virus standpoint and the market is still very reactive to news. Usually market crashes have three bounces. I'm not suggesting this is a normal crash, but unfortunately we have a long way to go. I think today will be a bump up, but the margin of gain is still so great that anyone should be OK that they sold before the fall and have an opportunity to buy in lower.

I'd be happy just not to have to read all the negative news everyday. It is taking a toll on me.
 

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Panic selling entails missed opportunities and tax issues, even in an IRA. No one makes money sitting on the sidelines with grand opinions and little appetite for risk.
 

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Discussion Starter #30 (Edited)
Yep, today is the 24th. That 8% increase today took us all the way back two days of trading. And it was based on the idea that the government had worked out a deal late last night. An 8% swing based on hope. That may say more than anyone is willing to admit.
 

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We are still in for a wild ride. No way to predict the bottom, but even in a recession I'm still a buyer as long as I have an income. My skills aren't going anywhere.
 

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"My skills aren't going anywhere. "

Unfortunately my skills, like my youth are all spent. So I'm hoping for a recovery so I can die well off and give it all to the kids. Then they can piss it away in a free for all frenzy.
 

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Discussion Starter #35
My daughter in-law is on the phone right now with our newest grand baby. Born this morning. On the floor below them someone is dying of Covid-19. It's pretty wide spread in WA state now. The people there know a lot more about it than comes across TV news.

The scenarios mentioned in the first post describing three possible paths is no longer applicable. We know enough about what is happening now to know this is going to be serious and long lasting historical stuff.

All of Mecklinburg County N.C. (>1,000,000 people) was put on lock down punishable by fine. Essential jobs, medical, food, and care for others are the only allowed reasons for travel. They have published a hot number for calling in violators. Doesn't effect me directly, it's the next county over.

Dead cat bounce.
 

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"Good thing I wasn't planning to retire in the next 5 years. "

On the bright side if my weakened portfolios hold 5 years it'll be fine I'll probably be dead by that time so it won't matter. (y)
 
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