The Purge

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PostPosted: Fri Jun 24, 2016 7:28 am 
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Can't believe they voted for Brexit. Here we come, worldwide recession (not to mention Trump America).

I just sold 3/4 of my stock holdings holdings in the pre market. Most already down 3-5%, but who knows how bad it will get?

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PostPosted: Fri Jun 24, 2016 8:42 am 
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PostPosted: Fri Jun 24, 2016 10:03 am 
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I can believe it. I would have been surprised had they voted to stay in the EU.

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PostPosted: Sun Jun 26, 2016 2:23 pm 
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PostPosted: Tue Jun 28, 2016 10:00 am 
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The silly thing to me is they are the only country that got to keep their own currency when they joined, which is maybe the only reason why a country SHOULD leave the union, like Greece, Spain or Italy. I did think it was a horrible idea to admit all of those Eastern Bloc countries so quickly because I knew the xenophobia thing would happen rather fast. The 2004 enlargement should not have happened. They should have started with the Czech Republic and see how the migration issue played out for a good 5 years before adding others, particularly Poland, which has a huge population and a shitty economy.


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PostPosted: Tue Jun 28, 2016 11:30 am 
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Might be missing out on good buying opportunities. I thought there would be more of a general crash but the London Stock Exchange took a pretty big jump today (so far).

FTSE 250 had peaked at about 17,300 before Brexit, then fell to 14,967 and today it's back up to 15,500.
FTSE 100 had peaked around 6300, then fell to 5980 and now is back to 6140.

Panic selling meets opportunistic buyers, I assume.

Pound still lost a lot versus the dollar, though I read that basically helps a lot of the FTSE 100, which are large companies that do a lot of business outside of Britain.

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PostPosted: Thu Jun 30, 2016 1:09 pm 
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FTSE 100 is now at its highest point since August of last year.
FTSE 250 is still down 1000 points (from 17333) but has been going up every day since that first crash.

(On the 5 year scale, this event has not, so far, registered much of a blip. Possibly everyone is thinking what I was thinking, which is that this doesn't especially matter for the next year, at least in terms of financials. We won't REALLY know anything until people sit down to talk trade deals.)

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PostPosted: Thu Jun 30, 2016 2:40 pm 
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Yeah markets are emotion based, the fallout from this idiocy will be down the road and will predicated on how the EU handles it. They may get off getting most of what they have now, or the EU could play hardball to try to keep the wave of nationalism from spreading like it already is in France/Netherlands.

Wish I had sold my place in Germany when the Euro was stronger :/


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PostPosted: Wed Jul 06, 2016 1:33 pm 
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I probably jumped on the sell button too soon - everything I sold is up since then. On the plus side, though, I put a big chunk of the proceeds from the sales into a leveraged gold play (safe haven in tough times and all that), and it's up 50% since then (at $292 right now). It's actually up about 800% since the start of the year...


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