LETSGOBROWNIES Posted March 16, 2020 Share Posted March 16, 2020 6 minutes ago, holt_bruce81 said: Excuse my lack of knowledge with this post but....what does shutting down the stock market mean? Does that mean stocks won’t be up/down throughout the day? Trading will be stopped. No one can buy or sell stocks. Quote Link to comment Share on other sites More sharing options...
ramssuperbowl99 Posted March 16, 2020 Share Posted March 16, 2020 4 minutes ago, holt_bruce81 said: Excuse my lack of knowledge with this post but....what does shutting down the stock market mean? Does that mean stocks won’t be up/down throughout the day? You can think of the stock market like eBay, where people are constantly putting up for auction their old stocks. If the market goes down by 7%, 13%, or 20% in a single day, they automatically shut down the market (so in this case, eBay would be offline) for 15 minutes, 15 minutes, or the rest of the day, just to let people catch their breath. It's designed to try and stop panic sells from going on indefinitely and having stuff go to zero out of fear. 1 Quote Link to comment Share on other sites More sharing options...
MWil23 Posted March 16, 2020 Share Posted March 16, 2020 3 minutes ago, ramssuperbowl99 said: You can think of the stock market like eBay, where people are constantly putting up for auction their old stocks. If the market goes down by 7%, 13%, or 20% in a single day, they automatically shut down the market (so in this case, eBay would be offline) for 15 minutes, 15 minutes, or the rest of the day, just to let people catch their breath. It's designed to try and stop panic sells from going on indefinitely and having stuff go to zero out of fear. Thank you FDR to be honest. Quote Link to comment Share on other sites More sharing options...
holt_bruce81 Posted March 16, 2020 Share Posted March 16, 2020 2 minutes ago, ramssuperbowl99 said: You can think of the stock market like eBay, where people are constantly putting up for auction their old stocks. If the market goes down by 7%, 13%, or 20% in a single day, they automatically shut down the market (so in this case, eBay would be offline) for 15 minutes, 15 minutes, or the rest of the day, just to let people catch their breath. It's designed to try and stop panic sells from going on indefinitely and having stuff go to zero out of fear. So its Not the time to buy anything right now? I think Robinhood says we can buy but it won’t be processed until it reopens and when the market reopens, the orders placed during a shutdown may be filled at a very different price. Quote Link to comment Share on other sites More sharing options...
LETSGOBROWNIES Posted March 16, 2020 Share Posted March 16, 2020 2 minutes ago, holt_bruce81 said: So its Not the time to buy anything right now? I think Robinhood says we can buy but it won’t be processed until it reopens and when the market reopens, the orders placed during a shutdown may be filled at a very different price. For the love of all things holy don’t buy anything right now. 1 Quote Link to comment Share on other sites More sharing options...
ramssuperbowl99 Posted March 16, 2020 Share Posted March 16, 2020 (edited) 3 minutes ago, holt_bruce81 said: So its Not the time to buy anything right now? I think Robinhood says we can buy but it won’t be processed until it reopens and when the market reopens, the orders placed during a shutdown may be filled at a very different price. You can place an order for something, but it will be unfilled until the market is back. So if you want to buy a share of Apple stock, it will end up costing you whatever Apple is trading at once the market is back open. Keep in mind, we just had a year's worth of normal growth that went away in a matter of a few hours. The market is so volatile that buying outside of some regularly scheduled 401k deposit or something wouldn't be a good idea. Edited March 16, 2020 by ramssuperbowl99 2 Quote Link to comment Share on other sites More sharing options...
LETSGOBROWNIES Posted March 16, 2020 Share Posted March 16, 2020 (edited) 2 minutes ago, ramssuperbowl99 said: You can place an order for something, but can't buy. Keep in mind, we just had a year's worth of normal growth that went away in a matter of a few hours. The market is so volatile that buying outside of some regularly scheduled 401k deposit or something wouldn't be a good idea. Yeah, fund your retirement and save some cash. There will be a time to buy, but it’s not now. Plus, depending on what you do for a living, it may be good to have some cash available if things go from bad to worse. Edited March 16, 2020 by LETSGOBROWNIES 1 Quote Link to comment Share on other sites More sharing options...
LETSGOBROWNIES Posted March 16, 2020 Share Posted March 16, 2020 Oof, bad day getting worse. Dow down 2700 rn ....😬 Quote Link to comment Share on other sites More sharing options...
MWil23 Posted March 16, 2020 Share Posted March 16, 2020 56 minutes ago, LETSGOBROWNIES said: Oof, bad day getting worse. Dow down 2700 rn ....😬 It fell again 5 minutes into Trumps presser. Probably no correlation... 1 Quote Link to comment Share on other sites More sharing options...
Tetsujin Posted March 16, 2020 Share Posted March 16, 2020 When quarterly reports come out in April, the stocks might take a hit again from the bad report. Might hold off until then. Quote Link to comment Share on other sites More sharing options...
MWil23 Posted March 17, 2020 Share Posted March 17, 2020 We just locked our mortgage at a 2.625%! Let's goooooo!!!! 3 Quote Link to comment Share on other sites More sharing options...
Calvert28 Posted March 17, 2020 Share Posted March 17, 2020 On 3/16/2020 at 3:40 PM, MWil23 said: It fell again 5 minutes into Trumps presser. Probably no correlation... Yea it probably has something to do with Corona like any sane person would think. Quote Link to comment Share on other sites More sharing options...
MWil23 Posted March 17, 2020 Share Posted March 17, 2020 Just now, Calvert28 said: Yea it probably has something to do with Corona like any sane person would think. Or the “R” word Quote Link to comment Share on other sites More sharing options...
Calvert28 Posted March 17, 2020 Share Posted March 17, 2020 I'm curious once the economy recovers from this are VR companies or robotics companies going to see an influx of cash and interest to avoid a problem like this in the future. I'm trying to find out which one's are making the most headway. Quote Link to comment Share on other sites More sharing options...
Calvert28 Posted March 17, 2020 Share Posted March 17, 2020 Just now, MWil23 said: Or the “R” word So Corona is not effecting the economy at all? Weird. So it just took a nose dive off a cliff for no reason, that's freaking rad man. Quote Link to comment Share on other sites More sharing options...
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