Covid crash #2 started

GazzaBloom

As Jack Bogle said "Don't do something, just stand there!"

Stocks are very volatile, US is sinking fast this afternoon, maybe a 2nd correction but no change of course is the best action, keep topping up monthly and ride it out.

When the sheep day traders wake up next week or month and realise there is nowhere else to make money all that cash will come pouring back in.

Thrugelmir

GazzaBloom said:

When the sheep day traders wake up next week or month and realise there is nowhere else to make money all that cash will come pouring back in.

Many will already be losing money. As will be backing individual shares not markets. 

ProDave

msallen said:

ProDave said:
...that fall in the funds is also going to steepen.

If you know that what are you waiting for.

I wish it was that simple.  If I instruct HL to sell now, they act on the instruction tomorrow and they then get sold at close of business price tomorrow.  That's likely 2 days of big falls before I am able to sell, thus fixing my losses, so I will probably ride it out this time and buy more when i sense the next upturn is starting, which I think will be months away now.

That's why I wish I had acted on my gut feeling a week ago. 

Albermarle

ProDave said:

msallen said:

ProDave said:
...that fall in the funds is also going to steepen.

If you know that what are you waiting for.

I wish it was that simple.  If I instruct HL to sell now, they act on the instruction tomorrow and they then get sold at close of business price tomorrow.  That's likely 2 days of big falls before I am able to sell, thus fixing my losses, so I will probably ride it out this time and buy more when i sense the next upturn is starting, which I think will be months away now.

That's why I wish I had acted on my gut feeling a week ago. 

It is nothing to do with HL . It is because you must be invested in closed end funds ( OEICS) They are only valued once a day and there is also a time cut off before you can buy or sell . These type of funds are essentially for long term investing and not for short term market timing .
If you want to do this you should invest in products that can be traded instantly , when markets are open .You can do this on the HL platform and many others .

ColdIron

Open-ended investment companies (OEICs)?

Sailtheworld

ProDave said:

msallen said:

ProDave said:
...that fall in the funds is also going to steepen.

If you know that what are you waiting for.

I wish it was that simple.  If I instruct HL to sell now, they act on the instruction tomorrow and they then get sold at close of business price tomorrow.  That's likely 2 days of big falls before I am able to sell, thus fixing my losses, so I will probably ride it out this time and buy more when i sense the next upturn is starting, which I think will be months away now.

That's why I wish I had acted on my gut feeling a week ago. 

You don't keep cash for these opportunities you spot. You invest in assets that are too illiquid to trade instantly.

It's an approach that doesn't lend itself to jumping in and out of cash at a moment's notice.

Albermarle

ColdIron said:

Open-ended investment companies (OEICs)?

My mistake - I meant open ended . 

Stargunner

ProDave said:

msallen said:

ProDave said:
...that fall in the funds is also going to steepen.

If you know that what are you waiting for.

I wish it was that simple.  If I instruct HL to sell now, they act on the instruction tomorrow and they then get sold at close of business price tomorrow.  That's likely 2 days of big falls before I am able to sell, thus fixing my losses, so I will probably ride it out this time and buy more when i sense the next upturn is starting, which I think will be months away now.

That's why I wish I had acted on my gut feeling a week ago. 

If you invest in investment trusts, etf’s or individual company shares then you can buy and sell them immediately. 

I decided to sell all my equities on Monday 19th Oct and will sit it out in cash for now.

John464

thetimewill said:

Hello all, could someone please direct me to the savings and investment forum. I have arrived in an  American election/ political forum by error. Thanks

Where do you draw the line between the two when politics is driving equity and bond prices?

Bobziz

bowlhead99 said:

I may takes some cash out of some non-equity positions ahead of next Tuesday's elections to be able to have a go 'timing the markets' this time next week if the election has a clear winner at that point. Though with postal ballots to be counted it could take a while.  I remember the Bush/ Gore Florida recounts 20 years back taking a month to resolve (was waiting for some bets to pay out), so it may not be plain sailing if the exit polling isn't conclusive and it takes a while to open and count all the mail while wearing PPE.

Can I play ? so looking into my crystal ball, I see the market responding to the increasing likelihood of a Biden win. This is the result that will bring a long and drawn out challenge from Trump, which will happen regardless of the final numbers when they do indeed come.  At least a month of more uncertainty. Could be a big spike when clarity does appear, as it could well coincide with the roll-out of a COVID vaccine and an agreement on the relief package. Then again, something entirely different could happen.....