Why's The Stock Market Dipping Today?

[BFritz21]

My money from the wreck had been doing well in the market since the news of the vaccines became public, but, today, it's taking a big hit.

It's not just my money, either.

Does anyone know why?

[Stewy]

According to CNN....

https://www.cnn.com/world/live-news/coronavirus-pandemic-vaccine-updates-12-21-20/h_6ccc6da3bf087377699e11676c24bddc

Seems very reactionary, should bounce back in a day or two.

[CKwi88]

News out of UK of New, more contagious strain. Countries closing border to UK.

Should bounce back with stimulus news.

[Benton]

(12-21-2020, 01:14 PM)CKwi88 Wrote: News out of UK of New, more contagious strain. Countries closing border to UK.

Should bounce back with stimulus news.

And there maybe some dip as the speculation the stimulus was going to be more.

[HarleyDog]

(12-21-2020, 01:26 PM)Benton Wrote: And there maybe some dip as the speculation the stimulus was going to be more.

Yes, this has been the demon lately. It's either Coronavirus or stimulus.

Don't panic Brad - just turn it off and don't check it for a few days. Jumpy people don't do well investing. Not saying you are that person, just making a point.

[fredtoast]

(12-21-2020, 12:50 PM)BFritz21 Wrote: My money from the wreck had been doing well in the market since the news of the vaccines became public,

Actually it went up dramatically after Biden was elected but BEFORE the public announcement about the vaccines.

And you should not even be watching the daily rise and fall of the market.  You need to just "Set it and forget it"

[BFritz21]

(12-21-2020, 01:08 PM)Stewy Wrote: According to CNN....

https://www.cnn.com/world/live-news/coronavirus-pandemic-vaccine-updates-12-21-20/h_6ccc6da3bf087377699e11676c24bddc

Seems very reactionary, should bounce back in a day or two.

Let's hope so.  This is why I am glad that I'm not in control of my money and my brother, who is a great financial advisor, is.

It's like Wild Thing says in Wall Street: don't get emotional about stock.  

I'd always get emotional about it.

(12-21-2020, 01:14 PM)CKwi88 Wrote: News out of UK of New, more contagious strain. Countries closing border to UK.

Should bounce back with stimulus news.

Can't believe there's a new strain already, but let's hope uit settle down.

(12-21-2020, 03:05 PM)HarleyDog Wrote: Yes, this has been the demon lately. It's either Coronavirus or stimulus.

Don't panic Brad - just turn it off and don't check it for a few days. Jumpy people don't do well investing. Not saying you are that person, just making a point.

lol......  I'm DEFINITELY that person.  I'd get emotional about my stocks 100% of the time!  I do need to stop checking and just let my brother do his thing.

[BFritz21]

Also, I will say that I had been making a lot in recent days, so the drop wasn't that bad, but it was pretty big to start the day, so I panicked.

Now, what I lost is nothing to sneeze at, but it's not nearly enough to make me worried in any kind of way.

[HarleyDog]

(12-21-2020, 08:48 PM)BFritz21 Wrote: Also, I will say that I had been making a lot in recent days, so the drop wasn't that bad, but it was pretty big to start the day, so I panicked.

Now, what I lost is nothing to sneeze at, but it's not nearly enough to make me worried in any kind of way.

Sometimes a market can go bullish like it has or it can go bearish for a few days, months or even years. I noticed you said something about your brother taking care of it. Is he a financial advisor or an accountant? Actually, don't even answer that because it's none of my business nor anyone else. My point I was going to, was that sometimes it's not a good idea to let family members handle your money. Specially money your going to rely on in the future. That does not stand true in some cases, but you hear so many horror stories which may not be your case. Your in a unique situation and I'm sure your family has your best interest at heart.

I hope you do well Brad and I'm sure you will. The market works great over time. Don;t let yourself get caught up in it too much and I suggest only checking it once a week. At least that way, you get peace and also have some control over drastic changes. GLB!

[Goalpost]

Well it all rebounded which is good. At one point all 11 sectors were down which means everybody was down early. There are just some days where you can be properly invested and lose anyway. The most important thing is that you are diversified. You can still have growth this way, and limit your downside. That's how I try to do it.

[GMDino]

(12-21-2020, 09:38 PM)Goalpost Wrote: Well it all rebounded which is good.  At one point all 11 sectors were down which means everybody was down early.  There are just some days where you can be properly invested and lose anyway.  The most important thing is that you are diversified.  You can still have growth this way, and limit your downside.  That's how I try to do it.

My boss, who heavily plays the market, was telling me about some stock involved in the packaging of the Pfizer vaccine that reportedly went from pennies to over $30.

A little searching found a dry ice company was was under a penny six months ago to over $30 and then the next day was down to $15 and was dropping again today when we found it.

The market does what it does.

[HarleyDog]

(12-21-2020, 09:55 PM)GMDino Wrote: My boss, who heavily plays the market, was telling me about some stock involved in the packaging of the Pfizer vaccine that reportedly went from pennies to over $30.

A little searching found a dry ice company was was under a penny six months ago to over $30 and then the next day was down to $15 and was dropping again today when we found it.

The market does what it does.

Don't invest in dry ice. Your investment sublimates. 

[*Nately120*]

(12-21-2020, 08:46 PM)BFritz21 Wrote: This is why I am glad that I'm not in control of my money and my brother, who is a great financial advisor, is.

You lucky stiff, my brother was an only child.

[GMDino]

(12-21-2020, 09:57 PM)HarleyDog Wrote: Don't invest in dry ice. Your investment sublimates. 

We were talking that if someone was really reading the tea leaves they were good investments but it's smoothed out now and moderna doesn't need the same level of cooling.  But I think he figured that a $1000 investment would have turned into $1.6 million if you got out at the top.  That's crazy.

[BFritz21]

(12-21-2020, 09:06 PM)HarleyDog Wrote: Sometimes a market can go bullish like it has or it can go bearish for a few days, months or even years. I noticed you said something about your brother taking care of it. Is he a financial advisor or an accountant? Actually, don't even answer that because it's none of my business nor anyone else. My point I was going to, was that sometimes it's not a good idea to let family members handle your money. Specially money your going to rely on in the future. That does not stand true in some cases, but you hear so many horror stories which may not be your case. Your in a unique situation and I'm sure your family has your best interest at heart.

I hope you do well Brad and I'm sure you will. The market works great over time. Don;t let yourself get caught up in it too much and I suggest only checking it once a week. At least that way, you get peace and also have some control over drastic changes. GLB!

He's a financial advisor.  He was a CPA at my old man's firm but they pissed him off so he split and went into financial planning (went back to school to take the classes and everything).

I know what you mean about it not being a good idea for a family member to invest my money, but my brother's great at what he does and he doesn't even take a cut because (a) he feels like what happened to me is his fault (even though I've never blamed him and never will) and (b) it would be a conflict in interest.  

Him feeling guilty is also why he goes the extra thousand miles to make sure that I'm taken care of.  

[Forever Spinning Vinyl]

(12-21-2020, 03:21 PM)fredtoast Wrote: Actually it went up dramatically after Biden was elected but BEFORE the public announcement about the vaccines.

And you should not even be watching the daily rise and fall of the market.  You need to just "Set it and forget it"

Good God this is so on point. I once worked with a boss that checked her stocks and 401K every day and her moods reflected it so much that one guy called in sick twice. He checked his stocks every two or three weeks and whenever he saw that his 401K took a temporary hit, a day off was better than knowingly walking in and having to deal with her and her self-manufactured stress.