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Stocks Pare Losses but Market Upheaval Continues. (Original Post) elleng Aug 2015 OP
I just wonder how active the program traders are during this RussBLib Aug 2015 #1
I agree. elleng Aug 2015 #2
Transaction tax Warpy Aug 2015 #4
I couldn't agree more. StoneCarver Aug 2015 #5
Early reporter has egg on face. Warpy Aug 2015 #3
what do you think it will overcorrect to? magical thyme Aug 2015 #6
What makes you think I want egg on my face? Warpy Aug 2015 #7
that's ok, it was an unfair question. magical thyme Aug 2015 #8

RussBLib

(8,984 posts)
1. I just wonder how active the program traders are during this
Mon Aug 24, 2015, 03:49 PM
Aug 2015

that crap should be either illegal or taxed so it's not so enticing.

If you could buy and sell thousands/millions of shares in the blink of an eye, wouldn't you? They really distort the market and the little guy has zero chance.

Warpy

(110,900 posts)
4. Transaction tax
Mon Aug 24, 2015, 05:19 PM
Aug 2015

That would take a great deal of the profit out of those thousands of trades a minute that create profit by distorting the market.

 

StoneCarver

(249 posts)
5. I couldn't agree more.
Mon Aug 24, 2015, 09:15 PM
Aug 2015

The high frequency traders are distorting the markets. A small tax on this should drive the penny HFT's out. More people need to research, buy, and hold -just like Warren. But as you know there are no deals left in the market. All the half smoked cigarette butts are gone (nod to Warren).
Stonecarver

Warpy

(110,900 posts)
3. Early reporter has egg on face.
Mon Aug 24, 2015, 05:18 PM
Aug 2015

since it was down 700 at one point and closed down 550+.

I don't think there will be early reports tomorrow. There were several today, trying to blow smoke up the butts of nervous stockholders.

Overall, this is overdue. It will over correct and then come back up. I don't think it's The Big One, that one will see the markets shutting down at 10 AM because they've lost the max for that day.

 

magical thyme

(14,881 posts)
6. what do you think it will overcorrect to?
Mon Aug 24, 2015, 10:05 PM
Aug 2015

I've been sitting on my money market fund waiting since June for this correction.

Warpy

(110,900 posts)
7. What makes you think I want egg on my face?
Mon Aug 24, 2015, 10:19 PM
Aug 2015

Keep watching things like the Asian markets (a massive dump there seems to have triggered today's panic) and keep an eye on those P/E ratios to determine when or if a stock is a good enough deal that it doesn't matter if it drops a few bucks more before it comes back up.

And above all, don't take stock tips from people on the net.

 

magical thyme

(14,881 posts)
8. that's ok, it was an unfair question.
Tue Aug 25, 2015, 08:00 AM
Aug 2015
I guess I should have expected an answer like that. Honest. Tough love

I'm not buying stocks...just mutual funds...so there is no P/E.

The problem I have with mutual funds is you don't really know the price you are buying or selling at -- it can end up dramatically different by the end of the day.

It's still too soon for me to buy simply because I don't consistently have the time to keep an eye on it. I expect I will in another month or two.

I would be doing dollar cost averaging if I could, but my situation is a chunk of money I came into all at once back when the market was at its peak. I can't afford to lose even a dime of it, so I left it in the mm for the summer, knowing I'll have more time in the fall.

But it's nerve wracking...it's enough to pay off the student loans and set me free from them forever.
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