News Dow bouncing around -1000

[hal2kilo]

I didn't realize you were still just a kid. I think I'll call you Junior from now on.

No plans to retire until 73? Sheesh, you must love your work more than I do.

Yea, I thought he was a bit older. Health issues can change that plan to work till you are 73.

 

[MomentsofSanity]

350 down at the close. recovered 650 in the last fifteen minutes.

 

[hal2kilo]

350 down at the close. recovered 650 in the last fifteen minutes.

Amazing how much that changed at the end. NASDAC up not quite a point.

 

[Bitek]

I ended up doing a decent amount of buying today. God only knows if we're at a bottom, but looking long term there were some good prices. We'll see where this goes

 

[hal2kilo]

Can't wait for fuel to drop like at rock at the pump soon right? I won't hold my breath. $45 a barrel.

 

[Wreckem]

Can't wait for fuel to drop like at rock at the pump soon right? I won't hold my breath. $45 a barrel.

In Dallas I have been seeing anywhere from $1.78 to $2.10 for the last two weeks.

 

[ponyo]

I ended up doing a decent amount of buying today. God only knows if we're at a bottom, but looking long term there were some good prices. We'll see where this goes

Don't worry. The Fed has your back. They will pump liquidity into the system and when this virus panic passes, you're going to see excess money chase growth names again.

https://www.federalreserve.gov/newsevents/pressreleases/other20200228a.htm

Statement from Federal Reserve Chair Jerome H. Powell
For release at 2:30 p.m. EST

The fundamentals of the U.S. economy remain strong. However, the coronavirus poses evolving risks to economic activity. The Federal Reserve is closely monitoring developments and their implications for the economic outlook. We will use our tools and act as appropriate to support the economy.

 

[Bitek]

Don't worry. The Fed has your back. They will pump liquidity into the system and when this virus panic passes, you're going to see excess money chase growth names again.

https://www.federalreserve.gov/newsevents/pressreleases/other20200228a.htm

Statement from Federal Reserve Chair Jerome H. Powell
For release at 2:30 p.m. EST

The fundamentals of the U.S. economy remain strong. However, the coronavirus poses evolving risks to economic activity. The Federal Reserve is closely monitoring developments and their implications for the economic outlook. We will use our tools and act as appropriate to support the economy.

Yeah, we talked in the Tesla thread a bit about this. Been holding some cash waiting for an opportunity and looking to play a long game.

Are we at the absolute bottom, who knows.
Are many stocks trading at good discounts? Will I feel good about the buy 6,12, + mos, years from now? Surely

I also agree that recovery will be pushed and helped by the govt, and the overall trends of low interest rates and waves of cash looking for investments isn't going to change anytime soon.

 

[cytg111]

Yeeeaaaa but if this is the tip of the tip of the iceberg... I dont know how a few percentage points is gonna starve that off over the next 6 months...

 

[Jhhnn]

Don't worry. The Fed has your back. They will pump liquidity into the system and when this virus panic passes, you're going to see excess money chase growth names again.

https://www.federalreserve.gov/newsevents/pressreleases/other20200228a.htm

Statement from Federal Reserve Chair Jerome H. Powell
For release at 2:30 p.m. EST

The fundamentals of the U.S. economy remain strong. However, the coronavirus poses evolving risks to economic activity. The Federal Reserve is closely monitoring developments and their implications for the economic outlook. We will use our tools and act as appropriate to support the economy.

Yeh, they're trying to pretend that the business cycle doesn't exist. It's just a figment of the imagination. "The fundamentals of the U.S. economy remain strong"? Define them.

 

[Bitek]

Yeeeaaaa but if this is the tip of the tip of the iceberg... I dont know how a few percentage points is gonna starve that off over the next 6 months...

Never can tell when you got the bottom until you have pulled back up enough to know.

Could it drop more? I'm sure it will be volatile. Still holding a good amount of cash.

But have we had a strong enough drop to risk starting buying back in and holding? I think so, at least for some less risky assets.

 

[Jhhnn]

Yeah, we talked in the Tesla thread a bit about this. Been holding some cash waiting for an opportunity and looking to play a long game.

Are we at the absolute bottom, who knows.
Are many stocks trading at good discounts? Will I feel good about the buy 6,12, + mos, years from now? Surely

I also agree that recovery will be pushed and helped by the govt, and the overall trends of low interest rates and waves of cash looking for investments isn't going to change anytime soon.

You mean hot money chasing returns, right? We've seen a lot of that for a couple of years. That's why we're here, isn't it? I think there's some sort of deeper economic malaise left unresolved in the wake of the great recession, something I don't quite understand.

 

[Bitek]

You mean hot money chasing returns, right? We've seen a lot of that for a couple of years. That's why we're here, isn't it? I think there's some sort of deeper economic malaise left unresolved in the wake of the great recession, something I don't quite understand.

We're not as healthy economically as we should be for sure.

But as far as the market goes, the world is awash with cheap money with few worthwhile places to go. % rates world wide are very low, if not net negative. Buying bonds is a waste of time for savers.
Demand is still a bit weak, so business investment building new capacity is weak. The US is still highly stable, so a strong attractant for money.

Otherwise lots of companies still pouring money into buy backs.

Then there is the corrupt motivations to keep market high to save Trump. That's a certainty here.

To me, it all adds up to money likely to come back into the market eventually and we're back to the trendline.

Maybe the virus has everything go tits up, but for now I'm thinking there is a decent chance most of the net impact will be short-term panic and slowdown, but not apocalypse, esp if we do see seasonal effects (no evidence yet, but respiratory diseases tend to be...) It's worth putting a few of my dollars back to work, and hold the rest and see how it evolves next week.

 

[NWRMidnight]

Don't worry. The Fed has your back. They will pump liquidity into the system and when this virus panic passes, you're going to see excess money chase growth names again.

https://www.federalreserve.gov/newsevents/pressreleases/other20200228a.htm

Statement from Federal Reserve Chair Jerome H. Powell
For release at 2:30 p.m. EST

The fundamentals of the U.S. economy remain strong. However, the coronavirus poses evolving risks to economic activity. The Federal Reserve is closely monitoring developments and their implications for the economic outlook. We will use our tools and act as appropriate to support the economy.

They have been pumping 100's of Billions into the stock market since September of last year to keep it inflated. I don't think they have enough resources to pump much more into it.

 

[Jhhnn]

We're not as healthy economically as we should be for sure.

But as far as the market goes, the world is awash with cheap money with few worthwhile places to go. % rates world wide are very low, if not net negative. Buying bonds is a waste of time for savers.
Demand is still a bit weak, so business investment building new capacity is weak. The US is still highly stable, so a strong attractant for money.

Otherwise lots of companies still pouring money into buy backs.

Then there is the corrupt motivations to keep market high to save Trump. That's a certainty here.

To me, it all adds up to money likely to come back into the market eventually and we're back to the trendline.

Maybe the virus has everything go tits up, but for now I'm thinking there is a decent chance most of the net impact will be short-term panic and slowdown, but not apocalypse, esp if we do see seasonal effects (no evidence yet, but respiratory diseases tend to be...) It's worth putting a few of my dollars back to work, and hold the rest and see how it evolves next week.

None of which accounts for problems in the repo market where the problem is lack of liquidity. That's why the FRB stepped in. That's wonky as fuck. Trouble in the repo market was like pulling the pin on the grenade of the great recession.

 

[K1052]

Trump wants to close the Mexican border because they have 3 cases. The economic calamity that would unfold should that happen is not possible to overstate.

 

[K1052]

Trump going on tv and literally telling the nation not to panic is going to have the opposite effect.

 

[hal2kilo]

Trump going on tv and literally telling the nation not to panic is going to have the opposite effect.

Yea, Trump got back on the podium and started with the hoax word, claimed the media was saying all his good people weren't doing a good job. No, I don't think I've really seen that, it's mostly your talking that's got everyone spooked.

 

[JSt0rm]

Trump going on tv and literally telling the nation not to panic is going to have the opposite effect.

and telling his followers that is a dem hoax wont help. Dow dropping 2000 points on monday would be hilarious.

 

[JSt0rm]

this is funny...

Top 8 Largest Dow Jones Drops in American History.
1) Trump: -1,191 2/27/20
2) Trump: -1,175 2/5/18
3) Trump: -1,032 2/8/18
4) Trump: -1,031 2/24/20
5) Trump: -879 2/25/20
6) Trump: -831 10/10/18
7) Trump: -800 8/14/19
8) Trump: -799 12/4/18
WINNING.

 

[alien42]

this is funny...

Top 8 Largest Dow Jones Drops in American History.
1) Trump: -1,191 2/27/20
2) Trump: -1,175 2/5/18
3) Trump: -1,032 2/8/18
4) Trump: -1,031 2/24/20
5) Trump: -879 2/25/20
6) Trump: -831 10/10/18
7) Trump: -800 8/14/19
8) Trump: -799 12/4/18
WINNING.

Funny, but using the percentages would be historically accurate, not the points.

 

[JSt0rm]

Funny, but using the percentages would be historically accurate, not the points.

Who gives a fuck? Donny 2 scoops cares so should you.

 

[hal2kilo]

Monday's looking scary with the confirmed cases of the virus climbing over this weekend.

 

[Muse]

Funny, but using the percentages would be historically accurate, not the points.

Exactly. I hate it when they report points and not percentages, a common media error.

 

[Jhhnn]

It's just the dirty Dems trying to make poor Trump look bad. Fake news, Man! The CDC is part of the Deep State conspiracy to bring him down!

The whole thing was shaky as fuck before corona virus ever broke out. All it took was an economic shock to send it tumbling down. Up next, a liquidity crisis where cash is King & nobody wants to let go of it... When you're a member of the true Bush constituency, you can do that.