Stocks

[oldno7]

Dow lost around 900 points in the overnight, gained back about 700 of those.(as of 3:30 am)

good chance today is the reversal day.

[oldno7]

and now dropping again, will be a crazy opening.

[rockgremlin]

I'm predicting another modest pullback today. That 10% correction is long overdue. It's easy to panic when you see these types of numbers. But in reality this is just a normal corrective measure. That bull has gotta catch his breath sometime!

[oldno7]

I'm predicting another modest pullback today. That 10% correction is long overdue. It's easy to panic when you see these types of numbers. But in reality this is just a normal corrective measure. That bull has gotta catch his breath sometime!

All very true.

And is the reason I trade my own accounts, I don't feel comfortable losing 10-20% of wealth in a week, knowing it will come back in 3 months.(or longer)

[oldno7]

The DOW futures have been down 934 points in the overnight.

currently off around 300.

It's just a matter of when the bulls feel they have gotten enough of a discount to buy again.

When/if it happens, my charts will show it clearly.(Reversal/buy signal)

Capitulation is what you seek.

[oldno7]

I bought Quantum Cobalt awhile ago for .93 share, it has gone down to the 20's and currently at .39

Percentage wise, I'm off a bunch but I only bought 1000 share so I'm willing to see what Springtime brings to these mines.

[Scott P]

Who here has a 529? Comments and suggestions?

[Iceaxe]

Who here has a 529? Comments and suggestions?

I looked into a 529 for my kids college savings (20 years ago) and instead went with a custodial account as it gave me much more freedom. A custodial account is just like a regular portfolio that you manage until the child is 21 at which time it becomes theirs. Taxes are really low because they are paid at the college students rate when they cash out and you are not bound by any 529 restrictions.

This worked out particularly well for my oldest as she ended up with a 4 year full ride academic scholarship and we could use the money elsewhere to help her.

YMMV

[rockgremlin]

I looked into a 529 for my kids college savings (20 years ago) and instead went with a custodial account as it gave me much more freedom. A custodial account is just like a regular portfolio that you manage until the child is 21 at which time it becomes theirs. Taxes are really low because they are paid at the college students rate when they cash out and you are not bound by any 529 restrictions.

This worked out particularly well for my oldest as she ended up with a 4 year full ride academic scholarship and we could use the money elsewhere to help her.

YMMV

How many years old was the custodial account until it was needed? Did you start that account as soon as your kids were born, or sometime afterward? Roughly what is the annual rate of return?

[Iceaxe]

How many years old was the custodial account until it was needed? Did you start that account as soon as your kids were born, or sometime afterward? Roughly what is the annual rate of return?

I started the accounts soon after the kids were born. They are nothing more then your typical stock trading account except for the fact the custodian (me) makes the trades and manages the stocks and not the child. When the kid turns 21 they become the custodian of their account, which makes it just like any other stock portfolio. I had the accounts set up through Charles Schwab. My kids accounts averaged about 10% a year over 20 years, which is about the market average. Certainly a better return than a savings account or CD, but you have to suffer the rollercoaster markets.

[oldno7]

I bought a lot of stock, this morning.

It was all Aurora Cannabis(ACBFF)

I have no complaints.

Up over 20% in less than 2 days

[oldno7]

dows up 500+

[rockgremlin]

I think Tuesday's rally is a dead cat bounce. The market has to correct sometime, and usually choppy and dramatic swings in both directions are a prelude to a pullback.

[oldno7]

I think Tuesday's rally is a dead cat bounce. The market has to correct sometime, and usually choppy and dramatic swings in both directions are a prelude to a pullback.

Certainly a possibility but heres what I see:

Market bottoms or swing bottoms are usually accompanied by a volume spike.
Without the spike, the market or swing bottom is usuall temporary and will not hold BUT you get a bounce(perhaps a dead cat, though usually a bear market term)
Avg. volume prior to yesterday had been about 460million shares.
Yesterday the volume spiked to 714million, pretty much a capitulation.
Today you had folks that had been holding cash since the Trump election, waiting for a buy in point.
Volume for today was 823million.
All in all, a good basis for a swing bottom, in a bull market.

Also--earning season is now, companies are all receiving cash benefits from the corporate tax cuts.
It has challenged many because they usually don't have glut of un suspected money.
I think it is a strong 4th quarter reporting, overall.

So, even though I currently have very limited exposure to the Dow/Nas./S&P, I think we will see new highs in the not to distant future.

Then I'll start looking for that volume spike on top.

I could be wrong--Rock could be right--The market will tell.

The trick is to make profit from your plan and plan to profit.

[oldno7]

Heres what I'm talking about with companies reporting 4th quarter, this is a copy of Olin's 4th quarter report.

Olin Corporation (NYSE: OLN) announced financial results for the fourth quarter and full year ended December 31, 2017.
The fourth quarter 2017 reported net income was $489.3 million, or $2.89 per diluted share, which included a tax benefit of $437.9 million from the Tax Cuts and Jobs Act of 2017 (2017 Tax Act). The fourth quarter 2016 reported net income was $17.5 million, or $0.10 per diluted share. The full year 2017 reported net income was $549.5 million, or $3.26 per diluted share, which included a tax benefit of $437.9 million from the 2017 Tax Act. The full year 2016 reported net loss was $3.9 million, or $0.02 per diluted share.

Having that much extra money--somehow might prove problematic but I don't know how.

Certainly some inflation concerns as well as inevitable rate increases(glad my house is paid for)

[oldno7]

Interesting and related read

https://www.cnbc.com/2018/02/06/feds...inflation.html

[oldno7]

I would venture a guess, we are at the stage marked excess.

New money comes in, bull are in charge everything is going good.

then it's not....

may take quite awhile to play out, maybe top around next fall??

It's all speculation till someone gets their eye poked out.

[oldno7]

Looking like Rock is Right!!

[oldno7]

I'm off just over $400 today in:

Lithium
Emerging markets
Oil & gas

MJ is still holding and that is where I have a bunch of shares

[accadacca]

The Dow Jones industrial average*plunged 1,033*points Thursday, its second-worst point drop in history, extending its losses in the recent selloff to more than 10% and*putting it officially into correction territory for the first time in since early 2016.