02-28-2020, 08:41 AM
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#401
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Franchise Player
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My first time experiencing this big of a drop in my RRSP this quick. Surprisingly calm given I'm seeing years of contributions and growth wiped out in a single week.
How's everyone else doing?
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02-28-2020, 08:47 AM
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#402
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Franchise Player
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I'm so mad I chose to not trade this and last week. Such a blown opportunity. In general I think the last four months for sure have been quite parabolic to the normal trend. I'm not surprised to see it give that back.
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02-28-2020, 08:54 AM
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#403
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In the Sin Bin
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I'm down about 12% this week. Today especially has been a bloodbath.
Mostly, I'm just kinda pissed I don't get my bonus until the end of March so can't really do too much bargain shopping at the moment. That said, given we probably haven't hit the bottom yet, being forced to wait is not a bad thing either.
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02-28-2020, 08:59 AM
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#404
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Franchise Player
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Quote:
Originally Posted by shermanator
My first time experiencing this big of a drop in my RRSP this quick. Surprisingly calm given I'm seeing years of contributions and growth wiped out in a single week.
How's everyone else doing?
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I've been watching this since January, especially with the run up to Chinese New Year. CP thread started up right around that time and got my attention more.
Pulled the triggered and GTFO of Dodge at the start of last week.
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02-28-2020, 09:22 AM
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#405
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Franchise Player
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I knew I should have pulled out of my funds and held cash earlier this week but I'm finally getting around to pulling out today. Still just losing last year's gains, so I'm not too bothered, but man it would have been nice to pull out last week like some others did, literally $5000 in free money.
I think it gets worse over the weekend, then I'll probably get back in in a month or so when there's more information.
__________________
Oliver Kylington is the greatest and best player in the world
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02-28-2020, 09:23 AM
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#406
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First Line Centre
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I'm just waiting for the first signs of a dead cat bounce and then I'm going to max out my LOC and buy up some stocks.
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02-28-2020, 09:28 AM
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#407
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Franchise Player
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270 on the SPY would likely hold up as the lowest low. Below that would be freaky bad.
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02-28-2020, 09:36 AM
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#408
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wins 10 internets
Join Date: Feb 2006
Location: slightly to the left
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Wealthsimple's website is barely functioning, sometimes taking several tires at reloading before you can see anything. My RRSP through Canada Life is worse, their site is just straight up dead
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02-28-2020, 09:47 AM
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#409
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Franchise Player
Join Date: Jan 2010
Location: east van
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my advice is stop watching, its to late to do anything now anyway.
you aren't micro trading, the climb back out of this will take years so missing a day or a week or a month of the recovery doesn't matter that much
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02-28-2020, 09:48 AM
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#410
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My face is a bum!
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Quote:
Originally Posted by shermanator
How's everyone else doing?
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Short as ####.
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02-28-2020, 09:52 AM
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#411
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First Line Centre
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If you tend to get emotional about your investments it might be better in the long run to either get someone else to handle them for you or set it and forget it. By that I mean no matter what the market does just wait it out.
I am buying and holding for the long term and will continue to buy if they keep going down. I only invest in companies I am comfortable holding for at least 10 years and in companies that have a history of increasing their dividends as I like to get paid to wait
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02-28-2020, 09:54 AM
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#412
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Powerplay Quarterback
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Quote:
Originally Posted by Resolute 14
I'm down about 12% this week. Today especially has been a bloodbath.
Mostly, I'm just kinda pissed I don't get my bonus until the end of March so can't really do too much bargain shopping at the moment. That said, given we probably haven't hit the bottom yet, being forced to wait is not a bad thing either.
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If you have Canadian stocks, it may not be as big of a bloodbath today as it looks. I got an alert from Quest Trade this morning, informing me that the closing value was from the 26th and not the 27th due to the technical issues. So you may be looking a the two days.
No matter what it is a bloodbath, I'm down about 18% in my TSFA, and Canada Life seems to be down, so I have no clue what my RRSPs look like. I suspect just as bad.
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02-28-2020, 09:56 AM
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#413
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My face is a bum!
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Also, wow was this a good year to be lazy on RRSP contributions and wait until the end. I see WealthSimple hasn't invested my deposit yet. Hurray!
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02-28-2020, 10:01 AM
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#414
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Powerplay Quarterback
Join Date: Mar 2006
Location: Trapped in my own code!!
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First time opening Questrade in a while, and woof did this last week hurt. Some of the stock charts look like staircases. Looks like too late to sell anything, so might wait a bit and see which ones stabilize before buying .
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02-28-2020, 10:03 AM
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#415
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Powerplay Quarterback
Join Date: Nov 2003
Location: Slightly right of left of center
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typically sell offs because of of events like this bounce back fairly quick.
__________________
It is the mark of an educated mind to be able to entertain a thought without accepting it.
- Aristotle
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02-28-2020, 10:06 AM
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#416
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Franchise Player
Join Date: Jan 2010
Location: east van
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Quote:
Originally Posted by Tiger
typically sell offs because of of events like this bounce back fairly quick.
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I doubt this one will
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02-28-2020, 10:17 AM
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#417
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Franchise Player
Join Date: Sep 2009
Location: Calgary
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Put 5% stop losses in place on Monday morning, they've all filled at this point, protecting the majority of gains. Sitting on cash for now and will observe how things play out over the next month.
There will be some great blue chip buys at nice price points in the coming weeks.
__________________
Pylon on the Edmonton Oilers:
"I am actually more excited for the Oilers game tomorrow than the Flames game. I am praying for multiple jersey tosses. The Oilers are my new favourite team for all the wrong reasons. I hate them so much I love them."
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02-28-2020, 10:34 AM
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#418
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Powerplay Quarterback
Join Date: Nov 2003
Location: Slightly right of left of center
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Quote:
Originally Posted by afc wimbledon
I doubt this one will
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people are panicking, which will make this big, and people are selling off. I will definitely try to invest more at this time (if I have it). but what will make it worse is more and more people pulling money out.
2008 the market was really bad and fundamentally there were issues in the market. and that did take years to come back (chart below)
Other events that didn't take long though Sep 21-Dec 26 2018 15.8% drop on fed hike, china slow down. Nov 3 to feb 11 2016 middle east tensions, NK nuclear tensions 13.3% drop. may 20 to aug 24 2015 greece default fears 10.9%. apr 26-jul 1 2010. euro debt crisis 15.2% drop. These are all the greater than 10% drops that recovered fairly quickly. there was also a little 7.4% dip in 2014 with ebola and oil collaspe. Since 2009 there have been about 25 drops of 5% or more linked to some fears or some world events too.
Overall do you see this as a 2008 type crisis or one of these similar market events?
__________________
It is the mark of an educated mind to be able to entertain a thought without accepting it.
- Aristotle
Last edited by Tiger; 02-28-2020 at 10:37 AM.
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02-28-2020, 10:41 AM
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#419
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Franchise Player
Join Date: Sep 2009
Location: Calgary
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It isn't a 2008 level issue where the financial system almost collapsed.
But there are real problems with earnings that will be associated with constrained global trade. When you couple that with the angst of the market being so hot, for so long, people start looking for a reason to kick off a correction.
I plan to sit on the sidelines for a bit and gauge how this shakes out.
Fundamentally, viruses struggle with UV light. Spring and summer are on the way, which should slow down the corona virus. I suspect in a month, perhaps two, the markets will be back to talking about how great Tesla is.
__________________
Pylon on the Edmonton Oilers:
"I am actually more excited for the Oilers game tomorrow than the Flames game. I am praying for multiple jersey tosses. The Oilers are my new favourite team for all the wrong reasons. I hate them so much I love them."
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02-28-2020, 11:45 AM
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#420
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Franchise Player
Join Date: Aug 2012
Location: Seattle, WA
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I plan on continuing to put in my semi monthly Etf orders, but I'm going to spread them out. Instead of only doing two per month I'm going to 4 per month.
__________________
It's only game. Why you heff to be mad?
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