Today Market

Economy & Finance
1353

Market starting to go back down now, nothing can stop it.

1 Like
1354

I think they are trying to stop the credit market from locking up. The financials are probably under stress.

1 Like
1355

You don’t get the hidden message like @manch. You SWEs are too logical and analytical, learn some liberal arts behavior. When 99 guys screwed up, you don’t brag that you navigate well. Say you are also in deep shit. For your safety :roll_eyes: learn from your lawsuit.

1 Like
1356

Domino effect - Italy in trouble means it (and maybe a few others) will need to be bailed out again.

3 Likes
1357

Yes, truth backfires sometime ! Hypocrisy wins !!

Then, why do you hate Trump? He is doing the same, right?

Just pulling you…no need to answer…

1 Like
1359

Only a SWE would answer 1+1 = 2. A smart liberal art would say whatever number you want.

1 Like
1360

Biden had a good speech. Of course means nothing. Funny Chinese investors are not panicking.

1361

Do they own US stocks? If not, why panic? American investors didn’t panic when China was in shit because of Covid-19. American investors panic because they realize nothing solid coming out of WH and so far, the perception is US is far behind the curve in preparation. Not enough masks. Not enough ventilators. Not enough hospital beds. Not enough healthcare professionals and protective equipments for them. How to survive the coming onslaught?

1 Like
1362

Politics does not cure disease. The US government should concentrate on mitigation and cures. Trump didn’t talk about medical issues. Only financial plans.

2 Likes
1363

:+1:

:-1:

Mainstreet is panicking.

1364

@manch Your guy sounds really, really bearish.

Palihapitiya: Coronavirus like financial crisis, dotcom bust combined

1365

Politics is the only thing that matters in widespread panic. It’s the critical time when leaders need to step the fuck up, show people they got credible plans and calm people down. Imagine right after Pearl Harbor all FDR did was blaming japan, telling citizens the problem will go away by itself, and bullying the fed to cut rates?

We need leadership and we need it now.

1 Like
1366

I don’t think the corona virus is another financial meltdown. Except some stress in the high yield bond market everything is still working fine, so far. But it has the potential to go real bad real fast if the political leadership continues to be in chaos.

This is more like the 911 attack. Bush calmed the nation down and things got back to mostly normal fairly quickly. But we got a clown in White House now.

1 Like
1367

The GDP hit will be huge:

  1. No sports
  2. No concerts
  3. Limited air travel
  4. Huge hotel vacancy rates
  5. Shutdown of manufacturing (UAW member tested positive)
  6. Restaurants are doing horrible
  7. Movie releases are being pushed back

We’ve literally never done this before. The real debate is how long the GDP plunge lasts. Also, if people replace the missing spending to keep GDP afloat. It wouldn’t surprise me if Q1 GDP is down 5% or more.

Add in the oil price war and it’s a mess.

I still think it’s mostly irrational. We didn’t do any of this with H1N1 or any other illness.

1 Like
1368

That’s why having this thing contained early is the absolute key. And we are still talking about how soon we can get testing kits made.

No other countries had widespread panic like we do today. South Korean factories are still humming. Singaporeans still go to malls and eat out. Panic is because people see we aren’t ready, and don’t see a credible path out of the mess.

1 Like
1369

As per reddit update, it is VIX 75-80 max, those traders are great !!! I am amazed how they calculated this precision last month ! VIX near peak, @hanera it is your time now…, use your TA for Fibonacci.

2020_03_12_vix_Near_peak

2 Likes
1370

I have shutdown my brain. Gave up. I have ignored the possibility of many charts appear to be completing higher degree wave one, thinking economy is strong! But I am wrong, dare not look at the possible retracement - scary - can be quite low. Just go to cash, hunkered at home. As I have said, I have enough food and beverages to last 6-12 months. No more going outside even though no confirmed cases in Austin but could be lurked anywhere about to breakout.

Texas 34 confirmed cases.
11 in San Antonio AFB (Diamond Princess)
16 in Houston area (An Egyptian cruise)
7 Dallas-Ford Worth (imported from California and other state)
I am worry now because Californians keep flying in to Austin, please don’t come.

Having said, bullish divergence in VOO but I think is counter-trend rather than a start of a new rally.

In short, FOCUS is save my ASS (not financially).

1 Like
1371

That must be the 2nd shoe dropping. You didn’t give up in Q4 2018! Stay safe hanera.

1 Like
1372

Ruger stock up $2. Panicking shopping for guns? Sign of a true panic. Toilet paper is for amateurs. Kimberly Clark down 4%

1 Like
1373

Load up on guns and bullets sure but I would avoid the stock. Plenty of better companies with better prospects out there.