Ooops, We Live Blogged The Flash Crash. Kindof.

This past weekend, Mr PoP realized that we were down about $40K in market value on our investments over the past week due to market losses.  It didn’t bother us (if anything it was just taking back some of the INSANE gains from YTD before that), but it meant that one subject of conversation in the PoP household this weekend (in addition to pondering backsplash tile!) was how much of a drop there would have to be to see the news media freaking out.

When lunchtime Monday came around and the tvs on at the gym were blasting all the news networks, I couldn’t help but notice that the market was down even more.  So I knew exactly what Mr PoP was talking about when he sent me a text a couple hours later about being disappointed with the news cycle.

What follows below is a 24 minute text conversation that Mr PoP and I had, inadvertently “live blogging” (well, not really since it was just for each other at the time) yesterday’s flash crash.  

I thought it was kindof funny, so am sharing it here in the hopes that you will too.  And if you’re stressed out about the recent stock market losses, don’t be.  Part of being a long term buy-and-hold kind of investor means not stressing out about days like today (or the flash crash in 2010, for that matter).

Here you go – Mr PoP is the grey bubbles, and I am the blue ones.  I have no idea why they look like different shades of blue in the different screen captures, so you’ll have to trust me that this is unedited.  (Not even *lightly edited* like 538 chats!)

 

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Were you able to watch Monday’s flash crash in real time?  How are you feeling about the stock market lately?

13 comments to Ooops, We Live Blogged The Flash Crash. Kindof.

  • I set a little reminder email to myself to re-balance our assets twice a year (Feb 1st and Aug 1st) so I was doing that this weekend. So I was selling off stock funds and buying bond funds. HOPEFULLY that all went through before the prices crashed, but I’m not sure how quickly Vanguard executes those mutual fund trades, and I don’t really want to check. Guru Bogle teaches us not to care about these ephemeral market movements, but sometimes it’s hard not to!
    Norm recently posted..Ridinkulous Annual Expense Report 2017My Profile

  • I accidentally semi-watched it because I was researching and laughed a bit that, if not for Twitter, seeing it lose $10K when I refreshed my browser would have been a bit startling. We’re in it for the long haul and we knew that corrections were due so it wasn’t any sort of surprise. I just kept an eye on any possible bargains that I’d been waiting to buy which is a seriously luxurious position to be in right now and I hope that we’ll be in a similarly relaxed position when we’re retired and another correction comes a knockin.
    Revanche @ A Gai Shan Life recently posted..Money & Life Report: January 2018My Profile

  • Jacq

    Definitely sad trombones. I overheard a coworker mention it, but I had work to focus on. By yesterday things were bouncing back. My ‘let it ride’ strategy got me through 2008, no need to panic now. :)
    The markets are so high, ‘everyone’has been talking about the impending bear for a year! I wasn’t surprised to hear it, just glad it levels itself off.
    Can Kitty Pop be your co-anchor? Double cuteness for the win!

    • Kitty PoP is so much cuter than I am – it would be like 5x the cuteness!

      Yeah, I think part of what has made the drop seem not so bad for me is that I’ve been looking at charts going back to Jan 1, 2017. The market went so insane in 2017, that this is still a good return since then, and there is nothing wrong with a little reversion to the mean.
      Mrs PoP recently posted..Ooops, We Live Blogged The Flash Crash. Kindof.My Profile

  • Joe

    Judging from comments here, way too much complacence. More is coming.

  • JC

    I got to watch it in real time via the internet and all I could think of was “oh well, the markets needed to correct anyways”. I couldn’t help but laugh though when I saw some links pop up on my FB account about CNBC running a “Market Alert Special” about what to do after the big drop on Monday. I didn’t watch it but I assume the advice was to just hold on and let things pass. Of course, the cynic in me, and Wall Street does have a reputation for doing shady things, was that the advice would be to buy the dip again and hold on (thoughts to themselves so the institutional investors/hedge funds and sell to the retailers). Everyone needs to keep things in perspective I mean the DJIA ended down like 3.5%, might have been down about 5-6% at the low for the day. I guess the headline number of 1,500 point plunge and closing down 1,000 points just looks huge now but if you look at the percentages it was actually quite tame.
    JC recently posted..Let’s Get This Party Started | Dividend Update – January 2018My Profile

    • The points thing is part of what drives me nuts! All the publicity about “points” totally obscures what really matters, which is the percentage! I have a coworker at work who always comments “Dow’s up 200 points” and I scold him and tell him it’s an essentially meaningless statement without saying what it is up from and that it’s far more concise to say it’s up 1%.

      As for buying on the dip don’t get me wrong, I love buying on a good sale – but I also don’t get super hyped up about a 5% off coupon. So while these prices are better (for buying) than they were a couple months ago, they’re also not deals of the century since valuations are still pretty high, so I’m not going to lose my head if I missed out on a buying opportunity.
      Mrs PoP recently posted..Ooops, We Live Blogged The Flash Crash. Kindof.My Profile

  • This is amazing. We’ll have to have you guys on one of our PF Chats, which are blatantly stolen from 538.

    Dips definitely make for more interesting news cycles, don’t they? Nothing particularly attention grabbing about 2017’s steady march upward.
    Done by Forty recently posted..Haters Gonna Say It’s FakeMy Profile

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