What was the subreddit like during March 2020's market crash?
By - BokuwaKami
Same shit that happens every time there is even a tiny red day: "I told you a correction is coming; I just sold everything yesterday because I saw this coming and going to buy back in at a lower price; the market is going to crash harder than 1929; everything is a bubble and overvalued, I'm holding all cash because you cant trust the market at this time."
Been going on for many years now.
Don't forget Japan
Mostly this. And salty people saying "I told you [insert stock here] was way overvalued! Been saying it for years!"
That being said, there was some occasional good advice on which stocks that had plummeted were good to buy at bargain prices.
That’s all I ever see no matter what is happening “X stock is so over valued” so irritating.
100%. It was rough seeing things go red, but shit we came out even better on the other side. Rinse and repeat.
Honestly, seeing all the comments and change in attitude when shit really hits the fan, it just makes it that much harder to buy on red days. I know that's how you get above average returns, buy when other's are fearful. But if all you read are other Redditor's freaking out and saying they're panic selling, it definitely tests your willpower.
100%. I missed out buying last March because I kept thinking the market would go lower and spent the last year kicking myself. Now that I have the chance again, I feel a bit uneasy still
Yep. Market has been overvalued and surviving because of free money from the fed literally since 2012 when I started hearing that argument
Have only heard it since
Better than deafening silence 🤣🤣
Patrick_mahomies Reddit member for 150 days...
"This is different, liquidate everything" was the prevailing sentiment. Also anger at the fact they sold at the bottom once the realization set in by April/May.
Michael Burry is still in denial. The crash is still coming, this is just the bounciest of all dead cat bounces!
I also think crash is incoming due when reality hits the market. But as long as we have fed and stimulus pumping the market to fucking stratosphere...
Agreed. The real question is what the catalyst will finally be. I know the housing market is ridiculous right now too, so I wonder how that will fall into play.
was some gain porn in WSB from people buying cheap puts pre market meltdown, same people lost most of those gains because as fast we went down we went back up with same speed
A lot of super bear porn of how the world is fucked any we going back Stone Age , Buffet selling airline because he probably listened too much from his buddy Gates made Bear porn even more convincing etc
Honestly no-one knew wtf is going to happen , Gov and Fed Brough bazooka of liquidity and fiscal support to knife fight and market exploded , bears got eaten alive because it was very hard to believe that stocks going up when real world literally stopped.
at the bottom my portfolio was down probably 80k or more, who even knows or cares at this point, bought some apple and msft because cloud and services for apple were exploding , didn't time the bottom but sub 170 msft and 70-80 apple post split entries , kept adding to 401k/brokerage , didn't change anything but also didn't YOLO myself into crazy money , life went on and here we are 1 year later
once you go through a correction/crash in the market, you see what happens with people. All the fear mongering and stuff going on. It's pretty sad.
It's easy to predict the more times you see it though and just realize, it's normal. You just need to inverse what everyone else is doing and that's how you come out ahead.
I wasn’t in here but I was in wsb. Most of us went bearish pretty quickly and loaded up on airline cruise and SPY puts. It seemed like almost all of us were on the right side of those trades. Then one day the market started to recover and a lot of us lost most of our gains doubling and tripling down on puts.
Yep, WSB spent a long time in denial that the market was coming back up
I was on WSB as well and bought SPY straddles everyday because I was never sure. We **always** had that huge spike and then rebound so you knew which way the market was going to dump the bad side of the straddle.
Basically just people saying how Tesla was a fraud and people encouraging others to short the shit out of the company. The stock dropped 60% at the time.
Once in a while, someone would ask if they should get in on the stock at at 40 dollars or so split-adjusted, and everyone would tell him not to, saying the stock was going to zero. lol
That's basically when I made up my mind to never listen to people here and do my own thing lol
Oh look, it's an appearance by the Chinese Communist Party mouthpiece on Reddit, Angela!
Great question. Curious as well.
Doom and gloom , morons telling people to sell at a 40 percent loss because the market is going down 80 percent and will not recover for decades since it was overvalued before the drop. Talk of a depression or comparison to the 2000 Dotcom crash which took Nasdaq 15 years to recover. When it started to rebound bull trap sell sell .Same shit as now. Some suckers fell for it and panic sold down big and missed the rebound
The sentiment was that we were nowhere near the bottom, even when major indexes were down 30 or even 40 percent. Many claimed to have seen it coming and sold. Others likely sold close to the bottom and many didn’t reenter until it was far too late. The best thing you could have done is stayed the course and continued buying good companies with established track records and profits. Instead lots were focused on either cigar butt investments like airlines or travel or high flying tech at astronomical valuations with little or no diversity. I believe what we’ve seen around here lately after a tough week in the market reflects that reality.
There was this variation-seperate guy that made a very convincing bear thesis based on technical analysis voodoo astrology shit saying SPY would go to a 100 in June and a lot of people lost money on puts
it was dead, I lurked.
Lots of doom and gloom and people thinking that it was too early to buy since it was going to go lower. Some people even sold their stocks with the intention to rebuy later when it was much lower, but it never went as low as they were expecting. And then once the market started recovering two weeks later, the doom and gloom continued and the big buzzword that people here liked to keep repeating was "dead cat bounce".
"Don't buy yet; it is just a dead cat bounce. It has got to retest its lows before the real recovery starts." was posted somewhere in most threads in March and April.
Of course, that never happened and instead the market went on an incredible bull run and greatly rewarded everybody that bought pretty much anything during that time. That experience thought me to ignore the doom and gloom and just buy quality companies when the market offers discounts on them.
I have a couple of receipts, some idiots were screaming at me that this is the end and it will never recover.
I was around at the time. It was more despair than now, we are not back there just yet...
When the market rebounded no one believed it
There were some that sold at the bottom then come August rolls around regret it lol. The brave ones loaded up during the bloodbath and made out like a bandit. It's pretty much the same thing that happen during last September.
Everyone had spy puts, and everyone thought spy was going well below 200. Circuit breakers being hit in futures multiple nights. Was fucking wild
People like me (on my old account) bought SPY puts way back in February. I bought mine once there was community spread of COVID in South Korea. And it was a brilliant play. Then narket crashed and I was rich as fuck. But wait! The FED started printing mobey, pumping the market up and up and up and up. And this sub became an echo chamber talking about dead cat bounces and how the market is going to collapse *even fucking more* than it had. Well, that didn't happen (yet, but that's a different topic).
I remember some guy even drank his piss in some basement when market didn't collapse. And he was in some stinky basement, he was pissing in some hole on the floor.
Lot of noobs spreading FUD.
I said it was a correction. Everyone down vote me
I was proven correct. Because it does fall with in the range of a correction.