News Dow bouncing around -1000

[Bitek]

Well, I've lost a lot of money, but Trump trade policies scared me. I got lots of dry powder.

Only lose money when you sell.

I'm not selling anything.

Sitting on cash waiting for deals. Just wish I had more.

 

[K1052]

The Europeans are breaking the glass with a sledgehammer. EU preparing to suspend fiscal rules.

Germany will abandon balanced budgets and massively stimulate the economy. Government loans for businesses, jobs guarantee, local government financial support, etc. The works.

 

[K1052]

I'm really worried that Trump, as usual, will be reactive and far too slow when it's clear we are going to need the same. He's trying to project an image that it's business as usual when the circumstances are anything but. The GOP senate apparently is still more worried about its conservative judges than the lives and livelihoods of over 300M citizens.

 

[Vic]

Markets up ~2% this morning. I can't and won't say that we've found the bottom, but now isn't a bad time for Longs to buy back in.

 

[[DHT]Osiris]

Markets up ~2% this morning. I can't and won't say that we've found the bottom, but now isn't a bad time for Longs to buy back in.

With the nonstop announcements of closings, I'm expecting it to crater another ~5% by close.

 

[TheVrolok]

With the nonstop announcements of closings, I'm expecting it to crater another ~5% by close.

Trump is speaking at 3, so expect some fall before close. Or, perhaps we wanna bet on how the address gets delayed until after the markets close?

 

[IronWing]

Trump is speaking at 3, so expect some fall before close. Or, perhaps we wanna bet on how the address gets delayed until after the markets close?

Exactly. Even Presidents who weren't totally inept speakers knew to wait until the markets closed prior to making speeches expected to have significant impact on the markets. With Trump though? Maybe he'll move it up to noon.

 

[zinfamous]

Hey now... Coolcoin is worthless... er... priceless no matter what the economic conditions are! It will continue to hold at the steady exchange rate of 1,000 Coolcoin for a Space Kitty T-Shirt for as long as I'm alive! *

* If I die of coronavirus, though, you're all pretty much screwed. I don't think that my wife knows the password to my crypto wallet. Sorry about that.

like I said: "still holding strong."

 

[TheVrolok]

Exactly. Even Presidents who weren't totally inept speakers knew to wait until the markets closed prior to making speeches expected to have significant impact on the markets. With Trump though? Maybe he'll move it up to noon.

Well, we're currently +15 so it's looking like good money.

 

[hal2kilo]

Only lose money when you sell.

I'm not selling anything.

Sitting on cash waiting for deals. Just wish I had more.

It's actually MM fund, all cash (thus losing gains). Half I still have in equities. Hope FB makes a comeback. It usually does, then Zuckerberg says or does something stupid about the time I think should sell and the stock goes down $5 a share.

 

[Bitek]

Been using cash to buy in last couple days.

Best opportunities to buy are when things look bleakest.

Snagged some AAPL again down at 250. Closed at 277 today.

Still watching some others like TSLA, it's still getting beat up, but looking cheap LT

 

[cytg111]

What has really changed? I think its gonna tank next week again.

 

[JSt0rm]

What has really changed? I think its gonna tank next week again.

wait till the dead start piling up. Its gonna tank and the chuds will not like trump any more.

 

[Bitek]

What has really changed? I think its gonna tank next week again.

Rise, then tanks, then rises, then tanks.

Buy and sell up and down. Just set some targets.

 

[ultimatebob]

wait till the dead start piling up. Its gonna tank and the chuds will not like trump any more.

Yeah, I think that we have one more major dip before things recover. My hunch is that we're going to have a major outbreak from somewhere that isn't taking the quarantine seriously, and it's going to have some few high profile casualties.

 

[cytg111]

Rise, then tanks, then rises, then tanks.

Buy and sell up and down. Just set some targets.

Yea I aint build like that

 

[Mai72]

I have a feeling that the market is going to be volatile for some time. Especially as COVID-19 grows and we start to see and feel the real ramifications. Right now, it's just the start. Imagine if this persists for 1 month? 3 months? 6 months?

 

[Bitek]

Yea I aint build like that

In an seriousness, the efforts taken today to fight CV should give a boost.

Looks like Trump is on board with house effort to pass paid sick leave.

Overall real actions are finally happening. Not out of the woods by a long shot, bad times still to come, but should be some temporary relief.

Stuff just needs to not blow up for a day or two

I do think next week will be volatile as testing and outbreak accelerates

 

[PlanetJosh]

Short version using 9 bullet points

* The right (or anyone) is hypocritical for not opposing the Fed's recent bailout of Wall Street when the right was so hateful of the bailout in 2008.

* The right will claim it's different this time because we have to stop the CV.

* I say the right should have stuck with their belief that the CV was just overblown by the lib media so a bailout would never be needed. They've done a flip flop from 2008 by supporting today's bailout.

* The right will say it's different this time because of sudden changes in the level of danger of the CV.

* I'll say it's more like the right wants to prop up the rich on Wall Street.

* The right will say the bailout will help the poor and middle class.

* I'll say the right opposed that very same argument back in 2008 when the Fed used it.

* And finally in 2008 the right said to let the big companies fail. But you don't hear them saying that about today's Wall Street big companies.

* Oh and my Ace In The Hole: Distribute the $trillion+ infusion on a local level more directly to the middle class and poor. No need for Reagan style & 2008 style trickle down.

Could've been shorter I guess but here's the extended version.

So the trillion+ dollar infusion in the markets for the last two days by the Fed is being called the 2nd Bailout. But this time it seems many or most conservatives support it since it may help them in the November election. But they may use another term besides bailout in public.

Is that a bit hypocritical considering many and possibly most of them were so against it in 2008? They'll say it's different this time because it's a health thing. Maybe they are right, idk. Not that I agree with them. This probably got mentioned in the thread, haven't read all of it.

Federal Reserve Announces Unprecedented $1.5 Trillion in Loans to Wall Street Today and Tomorrow

By Pam Martens and Russ Martens: March 12, 2020 ~ Making the most unprecedented announcement in the history of Wall Street, the Federal Reserve Bank of

wallstreetonparade.com

Edit:

Ok here's what I'll say if conservatives or anyone for that matter says it's not hypocritical as I mentioned above. I'll simply say that Trump and his supporters should have stuck with their convictions that CV in the US is not that big of a deal as the liberal media was claiming.

That would mean imho there would be no need for a trillion+ dollar infusion. And by not sticking to their guns (convictions) they are being hypocritical and thus they are doing a flip flop. And I'll keep responding with that every time someone claims it's not hypocritical because it's "'different" due to the CV. I rarely call anyone hypocritical but this time I can as outlined above. And by using those terms it wouldn't even be a personal attack. Anyway the forum may have mostly progressives so it may not amount to much in the way of posts.

So I figure the main argument by the right or anyone against me on this issue will be the realization of the health dangers changed. And so the bailout (or infusion) is ok and not a flip flop when comparing it to the bailout in 2008. To counter that I can get under their skin on either side by pointing out they are supporting the rich on Wall Street.

And if they say the infusion will help lower income and middle class people I'll simply say that's the same argument used by supporters of the 2008 Bailout. But the conservatives in general did not buy that argument or disliked it back in 2008. So it's hypocritical to support it now. And they will go back to their it's to fight against the CV argument. And I'll say they're propping up the fat cats and so it will go on and on.

Ok and a last tidbit I can't resist to mention is the right saying back in 2008 to "let the big corporations fail, they deserve it." That's how much they disliked the 1st Bailout. But they're not saying to let Wall Street with its big corps to fail in 2020.

Ah almost forgot the right thing to do is distribute the $trillion+ infusion on a local level more directly to the middle class and poor. Otherwise you have a Reagan style & 2008 style trickle down function for the rich.

 

[Vic]

No matter what happens with the virus, a very sudden and very sharp recession is about to occur. A huge economic shockwave. It's going to take awhile for the markets to sort this out. But in the meantime, the next problem is what happens when this shit hits Main Street, which BTW is already right now.

 

[Bitek]

No matter what happens with the virus, a very sudden and very sharp recession is about to occur. A huge economic shockwave. It's going to take awhile for the markets to sort this out. But in the meantime, the next problem is what happens when this shit hits Main Street, which BTW is already right now.

I was thinking the other day this event will be a fascinating economics study.

On one hand you have some industries slamming to a halt, then others overwhelmed with demand and raw materials in short supply. Populace hiding yet also spending madly to horde.

Truly feast or famine.

 

[UNCjigga]

Jeezus, this fucking guy.

Trump sends signed chart showing stock market gains to supporters after he declared coronavirus a national emergency

President Donald Trump on Friday sent a note to supporters that included a chart showing the Dow Jones Industrial Average dramatically rising roughly at the time he began a news conference declaring a national emergency over coronavirus. The President signed the chart.

www.cnn.com

 

[ivwshane]

No matter what happens with the virus, a very sudden and very sharp recession is about to occur. A huge economic shockwave. It's going to take awhile for the markets to sort this out. But in the meantime, the next problem is what happens when this shit hits Main Street, which BTW is already right now.

I don’t think it’s hitting Main Street at all yet. Have you been to the grocery stores? People are buying shit like crazy. A visit to your local Costco will show you that people’s baskets are filled with the same old stuff, no one is cutting back on anything.

 

[Vic]

I don’t think it’s hitting Main Street at all yet. Have you been to the grocery stores? People are buying shit like crazy. A visit to your local Costco will show you that people’s baskets are filled with the same old stuff, no one is cutting back on anything.

That's the middle class. And it hasn't happened just yet.

 

[woolfe9998]

I don’t think it’s hitting Main Street at all yet. Have you been to the grocery stores? People are buying shit like crazy. A visit to your local Costco will show you that people’s baskets are filled with the same old stuff, no one is cutting back on anything.

Because people are stocking up on food, specifically. Costco in particular is out of stock daily on many things, especially cases of water and other bulk staples. People are worried there will be shortages.

Our roads are empty here. That has to be hurting retail businesses.