NASDAQ this morning

[Murph]

Anyone here watch the stock market? In literally one minute, the NASDAQ dropped from 11921.75 to 11605.50. 316 points in one minute. Don't know if that's a record or not, but I know everyone's 401k has been taking a beating since 2020... and it looks like it's not going to stop any time soon.

This happened between 8:30 and 8:31 Eastern time. At 8:40, it looks like it's leveled out around 11500...

If you are an index trader, you could have made over $6000 in that one minute. That's $360,000 an hour. I wouldn't mind that kind of income

[JulioRiddols]

The whole market been eating shit for a while, my guess is that a lot of whales are bailing and stashing their money offshore for now and letting the retail investors go down with the ship so they can jump back in later and buy at a huge discount.

[Murph]

It was actually because of the CPI numbers. Year over year, CPI (Consumer Price Index) is down 9.1%. That's a ridiculous number. The funny part is they assumed it would be 8.8%, which is still ridiculous and the actual number was MORE ridiculous than the assumed number... so everyone headed for the hills early. NASDAQ is back to almost 11800, and S&P is still down a little but back from a big drop as well to almost 3900. So the markets, FORTUNATELY, rebounded somewhat.

But I'm sure, Julio, that you are correct in that the whales have been, over the course of the past 6 months or so, been getting the hell out of the market and into safer territory. I can tell you it's not gold (which a lot of investors like to get into when things are going south), as gold is down 15% from the high of right around $2060 in March of this year ($1734 at the time I wrote this). I don't track cyber currency, but my wife dabbled and lost quite a bit, so I assume that's been breaking down this year also.

I just hope many average people have not had their 401k or other retirement investments wrecked by this economy... It would really be terrible if people were depending on that for retirement and got kicked in the can... Let's just hope and pray that we can make it through this quickly!!

[JulioRiddols]

I was in the market quite a bit a couple years ago when those pandemic checks gave me a raise and some investment money.. Turned 1500 into about 15000 in a year before Tilray started its downward turn. I eventually cashed out with about 8k in the end but the market got way too volatile for me to trust it so now I am waiting for it to bottom out again myself and hoping it coincides with a time when I have some money saved to invest with. Honestly don't think it'll rebound for a while though. Still a ways to go before any stability has a chance to come around and settle things.

[Soxnation34]

It was actually because of the CPI numbers. Year over year, CPI (Consumer Price Index) is down 9.1%. That's a ridiculous number. The funny part is they assumed it would be 8.8%, which is still ridiculous and the actual number was MORE ridiculous than the assumed number... so everyone headed for the hills early. NASDAQ is back to almost 11800, and S&P is still down a little but back from a big drop as well to almost 3900. So the markets, FORTUNATELY, rebounded somewhat.

But I'm sure, Julio, that you are correct in that the whales have been, over the course of the past 6 months or so, been getting the hell out of the market and into safer territory. I can tell you it's not gold (which a lot of investors like to get into when things are going south), as gold is down 15% from the high of right around $2060 in March of this year ($1734 at the time I wrote this). I don't track cyber currency, but my wife dabbled and lost quite a bit, so I assume that's been breaking down this year also.

I just hope many average people have not had their 401k or other retirement investments wrecked by this economy... It would really be terrible if people were depending on that for retirement and got kicked in the can... Let's just hope and pray that we can make it through this quickly!!

I'm a big Crypto guy... I gravitate toward the larger coins like $BTC, $ETH and $ADA. Right now everything is just in a holding pattern. I took a bath this year on my Crypto, but didn't intend to be pulling my money anytime soon so no losses as of yet . Still doesn't help the sticker shock when I look at my digital wallet.

[W24olfpack]

I'm a big Crypto guy... I gravitate toward the larger coins like $BTC, $ETH and $ADA. Right now everything is just in a holding pattern. I took a bath this year on my Crypto, but didn't intend to be pulling my money anytime soon so no losses as of yet . Still doesn't help the sticker shock when I look at my digital wallet.

I'm hodl on ADA. Still believe in Charles and the platform although he's been oddly quiet.

[Soxnation34]

I'm hodl on ADA. Still believe in Charles and the platform although he's been oddly quiet.

I am curious to see what the Chinese do with people losing faith in banks and the housing market in China going nuclear. Could
see the common folk start using Crypto as a way to keep their money out of government hands.