This crash seems worse and faster than the 1929 crash. Looking
at GDXJ which continues to decline closing down 26% at 24.67.
On 8/13/2018 gold made a low of 1167. On the same date GDXJ
closed at 27.49 much higher than it is now. Unreal and its not the
only stock behaving like that. The only other time stocks declined
so much and quickly was in 1929. Hopefully we get a relief rally
soon maybe tonight.
nah, also I recall from things I read, gold or gold stocks sold
off during that time as well. Again gold is not a safe haven in
times like this
the initial 1929 crash was 48%. Then price retraced 50% of
that
remember in times like this all assets get sold to raise cash.
Analogy would be someone who gets cancer, they have a classic car
in the garage worth $150,000, they love their car but they sell it
to raise cash to pay the medical bills. Same with gold and other
things
Posted by pmahoney on 12th of Mar 2020 at 04:29 pm
From a points standpoint (obviously not percentage), the SPX is
down 913 points from top; slightly more than the 910 points from
2007 top - 2009 bottom.
Posted by Orangeman on 12th of Mar 2020 at 04:04 pm
What is scary is that it has happend so quickly that, outside of
the markets, this whole crisis still seems fairly abstract to many
folks. When the impact starts to manifest in paychecks,
school closures, bankrupt businesses on main street, etc.. it could
really be ugly. My friend called is "zombie killing time" -
not sure what that means, but sounds like no fun at all.
This crash seems worse and
Posted by victorh on 12th of Mar 2020 at 03:53 pm
This crash seems worse and faster than the 1929 crash. Looking at GDXJ which continues to decline closing down 26% at 24.67. On 8/13/2018 gold made a low of 1167. On the same date GDXJ closed at 27.49 much higher than it is now. Unreal and its not the only stock behaving like that. The only other time stocks declined so much and quickly was in 1929. Hopefully we get a relief rally soon maybe tonight.
nah, also I recall from
Posted by matt on 12th of Mar 2020 at 04:14 pm
nah, also I recall from things I read, gold or gold stocks sold off during that time as well. Again gold is not a safe haven in times like this
the initial 1929 crash was 48%. Then price retraced 50% of that
remember in times like this all assets get sold to raise cash. Analogy would be someone who gets cancer, they have a classic car in the garage worth $150,000, they love their car but they sell it to raise cash to pay the medical bills. Same with gold and other things
From a points standpoint (obviously
Posted by pmahoney on 12th of Mar 2020 at 04:29 pm
From a points standpoint (obviously not percentage), the SPX is down 913 points from top; slightly more than the 910 points from 2007 top - 2009 bottom.
What is scary is that
Posted by Orangeman on 12th of Mar 2020 at 04:04 pm
What is scary is that it has happend so quickly that, outside of the markets, this whole crisis still seems fairly abstract to many folks. When the impact starts to manifest in paychecks, school closures, bankrupt businesses on main street, etc.. it could really be ugly. My friend called is "zombie killing time" - not sure what that means, but sounds like no fun at all.
JNUG 105 to 12 in
Posted by steve on 12th of Mar 2020 at 03:54 pm
JNUG 105 to 12 in a couple weeks