Discussion ***Official*** 2020 Stock Market Thread

[IronWing]

Nuggets are usually a mix of gold and silver. They sell for more than pure gold as they are mineral specimens and everybody loves minerals. I'm up to two nuggets now, both gifts. I don't own a scale that goes low enough to weigh them but I'd guess somewhere in the 0.1 gram range, combined.

 

[JEDI]

Looks like a dead cat bounce in the morning. I am becoming more skeptical of these bounces.

dead cat bounce for the market maybe, but not for oil.

Russia didn't walk back to the OPEC+ table, they ran!
cant believe the speed in which Russia caved in.
now with Russia coming back to the OPEC+ talks, oil will be going up because optimism.

covered my 6figure short at $33.50 for a NICE profit!
(yesterday's oil close was $31/barrel, so I lost like 10% value.)

as for my 6figure switch to Bonds before the chrono virus meltdown, I'm not yet converting back to stock.

 

[FelixDeCat]

Well aint that a hoot....futures back down 3% at the moment.

Yeah for volatility.

Not.

 

[FelixDeCat]

Friends being betting on INO and CODX. Indeed INO has gained quite a bit throughout the week and is posed to reach 18 today. But not too sure if it is too late to join in the fun as short.

Both went from nothing to nearly $20 and right back down. Should have seen that one coming. Never buy a bubble.

 

[FelixDeCat]

Happy days are here again!

Hmm, a cat just dropped past my window. Wonder what's up with that?

This weekend as I was merrily driving along, I noticed a chicken casually crossing the road. The sky was truly falling.

Anyway, here is to better days once 2020 is over:

 

[PlanetJosh]

Maybe I'm a bad person for hoping markets will go down enough so I can buy AMD at $35 to $40 from its current $44 in after hours. It'll help me complete my shorting of it when I sold all of it at $43 yesterday. Then after that it'll be all rooting for an up market until the next short.

 

[JEDI]

Well aint that a hoot....futures back down 3% at the moment.

Yeah for volatility.

Not.

that dead cat is now falling. lets see if it's going to crash through the floor and set new lows.

also, oil is rising to $35.50/barrel.
so far, im glad I sold my short @ 33.50 but opening bell is a long ways away.
lets see if im still right at 9:30am.

 

[s0me0nesmind1]

Looking like a downer day - dow futures @ ~550.

Honestly given the inevitability of Coronavirus I'm surprised it hasn't plummeted more. It seems investors are stupid and need to see the numbers on an earnings report or something before actually reflecting it in their pricing.

 

[[DHT]Osiris]

Looking like a downer day - dow futures @ ~550.

Honestly given the inevitability of Coronavirus I'm surprised it hasn't plummeted more. It seems investors are stupid and need to see the numbers on an earnings report or something before actually reflecting it in their pricing.

Gotta wait until the investor class starts actually dying off. Get me a story of Buffett contracting the virus and in the ICU, and I'll give you a story of the market tripping all three breakers before lunch.

 

[FelixDeCat]

What happens tomorrow noone knows.

 

[sportage]

THIS up one day and down the next was EXACTLY what happened back in 1928-1929 just before the big crash.
It’s called instability and markets were not made to work that way.
Not long term.
When you bend metal to many times it eventually breaks.
What to be concerned about here is overall stability. Or lack of.

 

[[DHT]Osiris]

When you bend metal to many times it eventually breaks.

Not true for all metals, but apparently the market is made of aluminum.

 

[ponyo]

Made couple small plays today. Sold March 13 TSLA $600 put and bought 1,000 shares of AMRN at $12.50.

 

[hawkeye_wx]

Maybe I'm a bad person for hoping markets will go down enough so I can buy AMD at $35 to $40 from its current $44 in after hours. It'll help me complete my shorting of it when I sold all of it at $43 yesterday. Then after that it'll be all rooting for an up market until the next short.

For some reason, AMD was actually UP today while the rest of the market cratered. I've been looking for a better price to get in.

 

[jpiniero]

What happens tomorrow noone knows.

Tomorrow will probably be green actually. Still plenty of permabulls out there who will buy the dip. Might have to wait until earnings for them to get crushed.

 

[cytg111]

Tomorrow will probably be green actually. Still plenty of permabulls out there who will buy the dip. Might have to wait until earnings for them to get crushed.

500 up tomorrow 1500 down friday.

 

[ponyo]

What I love about this decline is that Boomer stocks like those owned by Warren Buffett are getting killed. He's holding lot of financials, airlines, and oil and those are getting murdered. Now we'll see how much conviction uncle Warren has in those names. He's sitting on lot of cash.

 

[FelixDeCat]

Made couple small plays today. Sold March 13 TSLA $600 put and bought 1,000 shares of AMRN at $12.50.

Made a quick buck buying puts on our favorite space stock. I figured all they are is a glorified travel stock for now (and everything else is theoretical for the moment), so they should be shorted just like all the other travel stocks. Covered today.

Its hard to make any long term bets either way right now because its so damn volatile out there for longs and shorts.

 

[FelixDeCat]

Bears coming out of hibernation weeks early

Just in time I would say.

 

[ponyo]

Futures are down big after Trump's speech tonight. I liked his speech. I sort of hope the futures stay down and open down big tomorrow. If so, I'm buying tomorrow.

 

[FelixDeCat]

Trump suspends travel between US and Europe for 30 days

Markets down another 5% after hours.

 

[JEDI]

yeah, if the market drops big tomorrow, I'm converting my 6figure corp bond fund to cash.
too many 'investment grade' bonds are being downgraded to junk this week for my liking.

note: a BBB rating is considered investment grade even tho it is one step above junk

and damn it for the Saudi's saying no to Russia to hold oil talks.
never saw that coming either. (The other being Russia running back to OPEC to start talks again 1 day after Saudi's started scorched earth oil.)
I have no more position in oil

 

[PlanetJosh]

For some reason, AMD was actually UP today while the rest of the market cratered. I've been looking for a better price to get in.

Apparently the good report on Mar 10 about their outlook for 2020 helped them go up like they did on Mar 11. I'm waiting for it to go down too and maybe tomorrow (Mar 12) will finally sink AMD some. It may take a few days of a down market to get AMD down to $40 when I would grab it.

edit - this is where I got the outook report I mentioned -

AMD: Right On Target (NASDAQ:AMD)

AMD updated their long-term financial targets at Financial Analyst Day 2020 to levels supportive of higher stock prices.

seekingalpha.com

So I guess the actual outlook report was a few days earlier than Mar 10 and this article is merely reporting on it. So now not sure why it had apparently over a 1 point gain on Mar 11 when the rest of the markets cratered. This post was a bit wordy as I tend to do but please AMD just go down already like most every other stock on huge down days so I can buy.

Another edit: It's March 12 and already AMD has dipped just below $40 at least 3 times today. All in one day. I bought it today at $40.3. Tough to judge when the lows will be when buying to hold it in this case. Or in most cases when dealing with single stocks.

 

[s0me0nesmind1]

Dow Futures as of right now down ~1300. Gonna be another fun one!

 

[JEDI]

Dow Futures as of right now down ~1300. Gonna be another fun one!

oil down to $31/barrel.
I sold my short at $33.50
<crying>