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***Official*** 2016 Stock Market Thread

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I'm guessing the stocks getting crushed the most from the brexit news are a good buy because even if there is a brexit and it has a devastating impact in the long run (meh), things take time, enough time to profit from such low prices.
 
Engineer said:
Uncertainty. Dropping like a rock right now (down 315 and falling fast). Last hour will be telling (usually is - sometimes in a surprising way). Of course, the perma-bears (Jim Rogers, etc) are out in force over the last few days pushing ever ounce of negativity that they can come up with.
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Those people really need to be dropped off a tall cliff. Lemming herders.

I wonder if they ever get tired of their own shtick or if they're really as stupid as they seem to be.
 
DOW down about 260 points. Boohoo, world is ending, OMFG.

Give me a break, Friday was bad outside the U.S., but today was a "regular" day considering the past 7 years. Had numerous -300 point days in the past year alone on "positive" news of a Fed rate hike.

Edit:

P.S. Total technical analysis-ing... If the S&P 500 loses ~3% more, this 7 year rally looks cooked unless some event causes it to bounce over 10% to 2200. More likely, shitty job numbers in a week start the trend down.
 
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UK needs to announce what their Brexit plan is. The market will adjust and move on. But if they sit around and delay, it's making them look like a bunch of headless chickens running around spraying blood on everything.
 
Well, it's happening. Italy may be getting its banks bailed out. What a wonderful functional union...

The Italian government is prepared to inject 40 billion euros in the banking system and it is negotiating such an plan with the European Commission...
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http://www.reuters.com/article/italy-factors-june-idUSL8N1971PS

The share price of banks crashed for a second trading day, with Intesa Sanpaolo off 12.5pc, and falls of 12pc for Banka MPS, 10.4pc for Mediobana, and 8pc for Unicredit. These lenders have lost a third of their value since Britain’s referendum.
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http://www.telegraph.co.uk/business...0bn-bank-rescue-as-first-brexit-domino-falls/
 
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The exit process takes two years so I don't see why people are thinking this is going to be a huge issue. Plenty of time to work things out.
 
Panic is over or dead cat bounce.

Wait, so the world isn't ending like almost every media outlet and the young'uns on Twitter are saying?

Wait until those same people learn about market, business, and economic cycles. You mean stock markets don't always go up?
 
Imp said:
Wait until those same people learn about market, business, and economic cycles. You mean stock markets don't always go up?
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Exactly. It's not like real estate. Oh, wait.:hmm:

Was the twitterverse really thinking that the sky was falling? I'm surprised it was even a blip on the radar outside of the UK.

Anyway, what I heard tonight is that to start the exit process, the UK has to invoke article 50 of one of the EU treaties. That is what starts the process.

Cameron has said he will not invoke the article and leave that to the next govt. So in essence he's giving the UK a cooling off period where they can reconsider what they want to do.
 
Charmonium said:
Was the twitterverse really thinking that the sky was falling? I'm surprised it was even a blip on the radar outside of the UK.

Anyway, what I heard tonight is that to start the exit process, the UK has to invoke article 50 of one of the EU treaties. That is what starts the process.

Cameron has said he will not invoke the article and leave that to the next govt. So in essence he's giving the UK a cooling off period where they can reconsider what they want to do.
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Look up your favorite Hollywood/TV/music stars on twitter -- British or American. Many people I "follow" have relinked the petition for a 2nd referendum, noted how Brexit = same as vote for Trump or Brexit = only bad. Some kept silent or withheld judgement, so respect to them.

Everyone is an expert on the EU government suddenly, especially young people with amazing voter turnout -- who were supposedly overwhelmingly in favor of Remain.

Merkel spoke to the EU Parliament this morning, I think, about Article 50 being the only path. This was mainly a "fuck you" vote to the establishment. Get some concessions from the EU and everyone will probably be happy again, no leaving necessary.

Meanwhile, EU banks look like they're on the verge of failing.
 
On Monday I put a sizable amount into VTMGX (17% UK, 38% Europe, 22% Japan, all areas doing very poorly out of fear so it was a great buying opportunity). Up 2.61% yesterday and likely to be up quite a bit more today.

But, I also put 1/10th of that amount into DSLV (silver short). Looks like I'll be down 10% on that today.

Overall it is a net plus, but I'll come in here and publically state that I was wrong about silver in the short term. I still think in the long term, precious metals are going to fall though.
 
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Don't silver and gold tend to move with the amount of volatility. IOW, people see it as a safe haven. I looked at the vix charted against SLV and didn't notice a pattern though,.
 
dullard said:
On Monday I put a sizable amount into VTMGX (17% UK, 38% Europe, 22% Japan, all areas doing very poorly out of fear so it was a great buying opportunity). Up 2.61% yesterday and likely to be up quite a bit more today.

But, I also put 1/10th of that amount into DSLV (silver short). Looks like I'll be down 10% on that today.

Overall it is a net plus, but I'll come in here and publically state that I was wrong about silver in the short term. I still think in the long term, precious metals are going to fall though.
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Silver is my second largest position, with cash being the largest. I think you're wrong both short term and long term on silver but you can make good money trading it since it's so volatile. Best of luck.
 
ponyo said:
Silver is my second largest position, with cash being the largest. I think you're wrong both short term and long term on silver but you can make good money trading it since it's so volatile. Best of luck.
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I've been doing quite well riding it down from $40/ounce. The cost to mine it is in the $7 to $10/ounce range. The historically stable price is in the $5/ounce range. No luck needed. I won't ride it down below ~$12/ounce though. Then it is just a volatile gamble.
 
S&P 500 is back up to 2071, down like 1% from the day before the Brexit vote. That panic lasted a whole 2 or 3 business days. You mean nothing actually happened aside from S&P and Fitch downgrading Britain's credit rating and 52% of the population giving governments the finger?

OMFG stttoooopid Brexiter rekked da economies -- I dun keeeep up wit da stocks or macroeconomics but I like to scor da politcal points.
 
Imp said:
S&P 500 is back up to 2071, down like 1% from the day before the Brexit vote. That panic lasted a whole 2 or 3 business days. You mean nothing actually happened aside from S&P and Fitch downgrading Britain's credit rating and 52% of the population giving governments the finger?

OMFG stttoooopid Brexiter rekked da economies -- I dun keeeep up wit da stocks or macroeconomics but I like to scor da politcal points.
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The British 'remain' campaign was called Project Fear so there was a lot of propaganda trying to scare people before the vote. I guess it worked.
 
Sad. Transferred my money the day of the brexit and I was just able to access it today to invest. Didn't end up investing in anything because prices went back up. The system is rigged.
 
Charmonium said:
The British 'remain' campaign was called Project Fear so there was a lot of propaganda trying to scare people before the vote. I guess it worked.
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Yep... But somehow media outlets and rich liberal celebrities, not limited to UK citizens, got themselves involved and sided with Remain.

While we're on it, Trump. He definitely can unilaterally do things but two houses and the Supreme Court can keep him in check. How much has Obummer really done since Congress turned Republican? But omfg, fear fear fear, end of da world.
 
Hacp said:
Sad. Transferred my money the day of the brexit and I was just able to access it today to invest. Didn't end up investing in anything because prices went back up. The system is rigged.
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SWHC

RGR

They'll run up for a while, particularly looking at the election polls...
 
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