Will the 2018 October Stock Market Swoon Give Pause To Decisions To Buy a C8?

[Boomer]

Lookout!! Financial account statements for Oct. will arrive in the mail shortly! Stocks have been killed:


+ The Dow is down 7.6% in October, which would mark its largest monthly decline since May 2010

+ The S&P 500 is down 9.4% this month, which would be its worst monthly loss since February of 2009

+ The Nasdaq is off 12.4%, which would be its largest one-month drop since October 2008

+ The small-capitalization Russell 2000 index RUT, +1.99% is down 12.9%, which would be its worst month since 2008

+ A 17th down day in October would represent the S&P 500’s highest number of down days in a month since 1970


The roil will not affect my decision to get the C8 even though I'm down enough this month to have easily paid for it and I only have 19% of financial assets allocated to equities. Rest is in "non-risk assets".

Will this financial market rout affect decisions to get a C8?

[WBT]

If the car is everything GM thinks it will be the car will sell tremendously. Most Corvette people are not poor. The only way the car doesn't sell is if the car is ugly or the car is way over priced.

[Boomer]

No doubt its gonna sell great. Just wonder if some folks now may second guess their decision in light of financial market action.

[meyerweb]

The October 2018 market won't have an effect. If the markets and/or economy head south around the time dealers are taking firm orders it could have an effect. Yes, most Corvette owners aren't poor, but that probably means they have lots of money invested, and watching your balance drop 15 or 20% can be chilling.

[Boomer]

The October 2018 market won't have an effect. If the markets and/or economy head south around the time dealers are taking firm orders it could have an effect. Yes, most Corvette owners aren't poor, but that probably means they have lots of money invested, and watching your balance drop 15 or 20% can be chilling.

Yea. Think you nailed that. That "chill" could translate into pausing a decision to buy a C8.

[Frenzy36]

John, If you look at the Huge Gains over the last 5 Years, This is a minor setback and it raised 1.77 % at todays close. There are plenty of people sitting on Large profits. I sure don;t feel it is any consideration, unless we have another crash. But that's not going to happen.

[Boomer]

unless we have another crash. But that's not going to happen.

You're courageous. I believe there will be another crash. I have no idea when and I will likely not see it coming.

Overall I would chalk Oct. up as a correction at least at this point.

[John]

This thread so far has done well is staying away from politics and social commentary. Thank you for continuing to do so.

I have two friends who lost more last week than a well equipped ME would cost. As one of them said, regarding his last week’s losses, I would rather have a car I love, thank a bunch of on paper investments going down. I will choose owning a car that makes me happy to love at, even happier to drive.

Of course a really bad economy will hurt some ME buyers and consequently eliminate, at least in the short run, some ME buyers — as it would hurt and effect sales of many other vehicles, including SUV’s.

Let’s not start worrying now; life it too short to start worrying roughly 11 months in advance of the first of us having to pay for it.

[Fasttoys]

This is a luxury purchase anytime the economy slows so does luxury purchases. Unfortunately that is life. I agree with John to many other things to worry about life is to short. GM just beat the street on their earning for 3RD Q great news.

[JB]

Good time to buy...

[Boomer]

Good time to buy...

Almost got SPY at 260 yesterday PM.

[meyerweb]

There WILL be another correction, And another one, and another one. That's the stock market, and nothing anyone does is going to change that. There will almost certainly be more recessions. That's the economy, and no one has figured out how to prevent that. Now, if you want to know when, or how big, or how long they'll last, you're on your own. No one can predict that, either.

[Frenzy36]

GM Has it's conference call just before market open 10/31/18 I am expecting a 5% rise. Not a bad stock to buy at this level considering it pays a 4.7% Dividend. Lets hope it goes in their favor. I know overseas sales have been slumping terribly for them. Honda is interested in Cruise as well as a couple other companies. They will be highly concentrating on that.

[Boomer]

GM Has it's conference call just before market open 10/31/18 I am expecting a 5% rise. Not a bad stock to buy at this level considering it pays a 4.7% Dividend. Lets hope it goes in their favor. I know overseas sales have been slumping terribly for them. Honda is interested in Cruise as well as a couple other companies. They will be highly concentrating on that.

Good call! General Motors Q3 revenue up 6% to $35.8 bln. The stock is up almost 10% in pre-market trading!

"General Motors Co.’s third-quarter operating profit jumped 25%, as the auto maker sold more pricey trucks and sport-utility vehicles in its home U.S. market while sidestepping the trouble in China that has tripped up some rivals."

Net profit of $2.5 billion on revenue of $35.8 billion. Not bad for three months work!

[MikeC8]

Being over 65 my stock market portfolio has been adjusted so as not to suffer any major correction or worst yet crash. Yes I’m still invested but less then 25% in the market. There are plenty of places to put your money ? The market has no influence on me buying a C8. During the 09 market I bought a Ford Gt at one hell of a discount. Buying opportunities always surface when the herd moves in the opposite direction. Stay tuned.