Dow is Down 900+ points Today 2/24/2020

The main reason the market is dipping is because of fears about dwindling supplies/equipment due to China shutting down so many of its factories. Which is due to the coronavirus. The bulk of our stuff is made in China (same issue with other countries), so factories shutting down for a possible extended period is critical because at some point demand can be heavily affected. Temporarily. It could also cause a temporary increase in retail prices due to a supply reduction.

I just changed my TSP contribution from 26% to 92% of my base pay...**** it!

Interesting..

PIPO said:

I just changed my TSP contribution from 26% to 92% of my base pay...**** it!

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jmsa540 said:

Interesting..

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Basically, I’m just buying as much as I’m allow now that it is low. The annual contribution won’t changed, it’s maxed out at $19.5k. I won’t stop contributing so might as well buy all I can now.

BigPoppa said:

Buying season is open!

Going to dump some extra cash into my large caps over the next couple of months.

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This.

These next few weeks are the time to buy at a significant discount, Especially since a ‘cure’ is now going to be tested and distributed.


Look up the market swings for the SARS and Bird Flu dates, same thing applies here.

me32 said:

My question did people really think the Corona virus was just gonna go away?

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Shit tons of people thought it would. Kinda like flu season.


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VenomVeins said:

This.

These next few weeks are the time to buy at a significant discount, Especially since a ‘cure’ is now going to be tested and distributed.


Look up the market swings for the SARS and Bird Flu dates, same thing applies here.

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Agreed... Now might be the time to buy with everything you can do without in other areas. Always a gamble, but history bets this way in such a case. Im gonna max out and hope its the right move.

Dirks9901 said:

Shit tons of people thought it would. Kinda like flu season.


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Well then they were stupid. I knew the minute i heard about it. Was gonna spread like a wild fire.

me32 said:

Well then they were stupid. I knew the minute i heard about it. Was gonna spread like a wild fire.

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If northern Italy is any indication, better get supplies now.

I was going to buy FCA puts last week and opted not to, I guess a lot of their parts aren't being built so they could potentially run out of cars to sell.

It's down over 6% since I looked at them.

Oh well.

ON D BIT said:

China hiding real numbers. Real numbers were released on 2/2 by mistake. China said 14k infected 304 dead.
Natural attrition rate in China is 7.1 die of 1k people every year. America is 7.3. Put those numbers into Wuhan a city bigger than New York City it looks like this. 11 million would be 6500 dead every month on ave in a normal month. Would China quarantine 400+ million for a spike of 300 or even 1000 more in a month?

Real numbers on 2/2 were 154k infected 24.5k dead. In one month!
Numbers are back up by Wuhan 49 crematoriums not being able to burn the bodies fast enough at 100 a day at each site. 40 more industrial incinerators were just brought in.

Now numbers doubling in S Korea Japan Italy Iran....

It will get bad before it gets better.
Tencent may have accidentally leaked real dat... | Taiwan News
View attachment 1625235

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Iran's deputy health minister has tested positive for the coronavirus, as the country struggles with one of the worst outbreaks beyond China

Washington Post story just pushed:


By
Adam Taylor,
Rick Noack,
William Wan and
Miriam Berger
Feb. 25, 2020 at 12:12 p.m. EST
Refresh for updates
BREAKING: Health officials are warning that the spread of coronavirus in the United States appears inevitable.

The comments were made in separate briefings to lawmakers and reporters on Tuesday, marking an escalation in tone and urgency. “Ultimately we expect we will see community spread in the United States," Nancy Messonnier, a top official at the Centers for Disease Control and Prevention, told reporters.

“It’s not a question of if this will happen but when this will happen and how many people in this country will have severe illnesses.”

This is a developing story. It will be updated.

my wife has a 401k for us. it's running at 28.6% growth over the last 2 years.. would we be better off leaving things alone or throwing some extra cash at it?

scott9050 said:

Coronavirus Outbreak in America is Coming: CDC

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When you have shit like this happening of course an outbreak is coming:

”Trump 'Furious' At Rogue Bureaucrats Who Let Coronavirus Patients Fly Home”

President Trump was reportedly livid after 14 Diamond Princess passengers infected with coronavirus were flown back to the United States without notifying him and against his wishes, according to the Washington Post.

Trump and his coronavirus task force were told last Saturday that Americans quarantined for weeks aboard the luxury cruise ship would be brought home on two chartered planes, but that infected patients or those with symptoms would remain in Japan. That decision was overruled without Trump's knowledge, according to the report.

Trump learned of the decision after the fact and was reportedly angry that he wasn't consulted first - as the decision "could damage his administration’s handling of the response," according to the report.

"Some members of the task force were not told in advance that the infected people would be placed on the plane and learned that only after the plane was on its way back to the United States."

State department defends

"It's important to remember this was an emerging and unusual circumstance," said Principal Deputy Assistant Secretary of the Bureau of Consular Affairs, Ian Brownlee.

Russo said:

my wife has a 401k for us. it's running at 28.6% growth over the last 2 years.. would we be better off leaving things alone or throwing some extra cash at it?

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Let me qualify this statement accordingly... I am not a finance advisor in the least, but I am dumping all I can into mine right now.

I can just see Buffet licking his lips hoping he finally can spend some of his hoard.

Unless u buy and sell stocks daily it means virtually nothing to the long term investor. If anything, it's good. Dips are healthy.

If things were always going up it would never give u the option to buy low and that's where ppl make their money who are in it for the marathon. This aint a sprint..... so these corrections are welcome and healthy.

Ppl need to settle down and relax.

^^^This. Been doing this dance in the market since 1991 and seasoned like an old cast iron pan....lol. Corrections are healthy and needed.

Headed towards a market correction just in time for my annual bonus, great opportunity to pump some of that into the market