News Dow bouncing around -1000

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[DHT]Osiris

Lifer
Dec 15, 2015
14,004
12,071
146
I keep seeing these local petitions on facebook for governments to halt rent payments, and some asshole in Portland is giving his renters a free month.

I would be totally screwed if this happened, and then we would have 4 families, my 3 tenants and my family out on the street. I have 2 duplexes and we live in one of the units. I am willing to work with them to keep everyone housed and warm, but it still costs money to own the houses, people have this weird view of owners, that we are all rich and we spend their rent money of fancy things or something. no, we spend it on upkeep, and our mortgages, and taxes and... there is usually not much left for our time and trouble on a monthly basis. we are in it for the increase in value of the properties, and the equity.



anywho…

anyone notice the pattern on the volume? I think we can anticipate the high volume spikes. could be useful.
Same, same. I rent a property in another state (bought in the mil, thanks VA loan!), and I've got a nest egg from a rather large tax return that I've been holding on to with this crisis ramping up, but I've only got so long that I can go rent-free before someone's not getting paid.
 
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dank69

Lifer
Oct 6, 2009
35,203
28,218
136
I think that Trump working with Congress to make it rain will probably help him keep the election competitive as opposed to being totally blown out but there's little reason to think this sort of fiscal stimulus would result in what you're saying. It's still not going to be nearly big enough to fill the hole we're probably looking at here. As for the electorate giving him credit for it they should give him credit for doing good things.

I love how this board is filled with people who think if any time Trump isn't totally incompetent he's going to cruise to re-election. Trump is unpopular and his unpopularity seems largely fixed, nothing seems to move it much one way or the other. Now it's not impossible that could change but we should probably view claims that him doing something is going to make him cruise to re-election skeptically considering how nothing else has moved the needle on him much.
I hope you are right but millions of people living paycheck to paycheck and paying zero attention to politics suddenly getting $1000 a month to cover bills and all asking each other how and answering Trump is going to create a tremendous amount of new fans.
 

vi edit

Elite Member
Super Moderator
Oct 28, 1999
62,381
8,131
126
Myrtle the Turtle right now: Republicans in the senate will decide on what we are going to do for stimulus and then we need 60 votes to pass.

Translation: Expect nothing
 

fskimospy

Elite Member
Mar 10, 2006
83,717
47,406
136
I hope you are right but millions of people living paycheck to paycheck and paying zero attention to politics suddenly getting $1000 a month to cover bills and all asking each other how and answering Trump is going to create a tremendous amount of new fans.

And what about those millions losing their jobs?

All I'm saying is that nothing else in three years has moved the needle and call me skeptical that an economy that's going to massively contract in the second quarter is going to be a plus for Trump because he mailed out people checks that replaced some fraction of their lost income.
 

dank69

Lifer
Oct 6, 2009
35,203
28,218
136
And what about those millions losing their jobs?

All I'm saying is that nothing else in three years has moved the needle and call me skeptical that an economy that's going to massively contract in the second quarter is going to be a plus for Trump because he mailed out people checks that replaced some fraction of their lost income.
Yeah, I think it goes without saying that everything depends on how long all this lasts, how bad it gets, etc.
 

Jhhnn

IN MEMORIAM
Nov 11, 1999
62,365
14,681
136
Your post can't be true. AOC and people on this forum say anyone like you or who has more than $400 in the bank because *gasp* we actually save some of our money is lighting cigars with $100 bills on our yachts. This is exactly how @Jhhnn sees you.

tenor.gif

Seek help.
 

ShookKnight

Senior member
Dec 12, 2019
646
658
96
I love how Wall Street gets $1.5 trillion, then $500 billion in less than 24 business hours. But the people who lost their jobs are sitting on the sidelines hoping for some sort of relief.
 
Jan 25, 2011
16,586
8,662
146
Circuit breakers for today.

Market Wide Circuit Breaker Trigger Points
Trigger ValueS&P 500 Index
Breach Thresholds for Today
TIMEACTION
MWCB Level 1:

(7% decline)
2352.14Before 3:25 p.m.

At or after 3:25 p.m.
Halt 15 minutes.

Trading continues, unless there is a Level 3
MWCB Level 2:

(13% Decline)
2200.39Before 3:25 p.m..

At or after 3:25 p.m.
Halt 15 minutes.

Trading continues, unless there is a Level 3
MWCB Level 3:

(20% Decline)
2023.35Any timeHalt remainder of Day
 

K1052

Elite Member
Aug 21, 2003
45,895
32,688
136
I love how Wall Street gets $1.5 trillion, then $500 billion in less than 24 business hours. But the people who lost their jobs are sitting on the sidelines hoping for some sort of relief.

The Fed has the authority, within limits, to act far more rapidly than the US political machinery can. So yeah they can prop up the repo market and start buying bonds and other securities. The last thing you want right now is a banking crisis on top of what's going on. The Fed should move aggressively into short term corporate lending (they've dipped a toe in now) and on to purchasing state and local bonds in high volume.
 
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Vic

Elite Member
Jun 12, 2001
50,415
14,303
136
Stocks open down 5%, Dow looks to drop below 20k, oil at $24 and falling...
 

K1052

Elite Member
Aug 21, 2003
45,895
32,688
136
Senate to vote on the house bill today, passage expected.

They're still working on cobbling together the larger stimulus bill.
 

UNCjigga

Lifer
Dec 12, 2000
24,802
9,004
136
I’m very curious to see what happens to those banks with under $50 billion in assets and those no longer subject to Volcker rules since Trump rolled back Dodd-Frank for them.
 

fleshconsumed

Diamond Member
Feb 21, 2002
6,483
2,352
136
Dow Jones closed at 19,804.72 on January 19th 2017 (pre-inauguration day).

DJI is at 19,845.81 right now.

It's quite possible that if not today then within next few days markets will officially go to pre-Trump era erasing yet another Trump "achievement"

Winning... /s
 

herm0016

Diamond Member
Feb 26, 2005
8,385
1,011
126
From what I've read most shale drillers start losing money under $40.


that's about right. depending on the field/transportation costs. some may get close to 30, and everyone is loosing money under 30. some are loosing a lot of money.
 

IronWing

No Lifer
Jul 20, 2001
68,852
26,644
136
Dow Jones closed at 19,804.72 on January 19th 2017 (pre-inauguration day).

DJI is at 19,845.81 right now.

It's quite possible that if not today then within next few days markets will officially go to pre-Trump era erasing yet another Trump "achievement"

Winning... /s
Winner winner chicken dinner!
 

Vic

Elite Member
Jun 12, 2001
50,415
14,303
136
Dow Jones closed at 19,804.72 on January 19th 2017 (pre-inauguration day).

DJI is at 19,845.81 right now.

It's quite possible that if not today then within next few days markets will officially go to pre-Trump era erasing yet another Trump "achievement"

Winning... /s
Below 19,800 as of this post.
 

JSt0rm

Lifer
Sep 5, 2000
27,399
3,947
126
lol dudes around here trying to say what the bottom was. The bottom is 0. Thats the bottom. will we hit it? no.


where is that dude that was buying in during the first week of slides?
 
Jan 25, 2011
16,586
8,662
146
Ugh. Circuit breaker coming very shortly.

This presser is not going to help at all. Flirting with it the entire time.
 
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