October 9th, Thursday of the Black Week
Very painful to watch the markets. Sorry for the people who had invested many years ago and are flat or losing money now.
Though there have been news of tragedies happening (murders, suicides etc.) related to investments, sadly I don’t think this is the kind of blood they talk about when say “buy when there’s blood in the street”. Rot schild certainly didn’t mean it like that. I think there may (will) be a war and I’m terrified.
Getting a ton of searches for “great depression stock chart” and similar. Public sentiment must be at 0 at this point.
Traders are expecting a bounce literally any minute, but are there enough traders to move this and keep it up? Long-term investors will continue bailing out, I have no idea what would keep them in. Some will be buying dividend-paying stocks, of course, but it’s psychologically difficult to do right now and not a lot of people are “savvy” enough to push through the fear. Self-preservation is probably wise at this point.
Tomorrow being Friday this is not going to help the markets. Who in their mind will be buying and holding over the weekend anything? Who?!
Stock market is everywhere. They’re showing a lot of sitcom reruns dealing with stocks, it’s in the TV promos on entertainment channels – everywhere! This was also characteristic of the 1920’s American society and Japanese stock bubble – everyone and their uncle traded. Oh, and the Chinese were as much into stocks in 2007, right before the horrible drop.
- A Canadian bank is advertising principal-protected investment accounts with the slogan “How do you stop worrying about your investments? Forget about them!”
- Fidelity is advertising on billboards with middle-aged portraits of people looking kind of worried, slogan “Stop the stock market rollercoaster. I want off.”
Below is a picture of what fear looks like. How long can we stay scared?
I’ll post my trades/plans later.