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News Dow bouncing around -1000

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ShookKnight

Senior member
Dec 12, 2019
646
657
96
Uh oh... Dow Jones in trouble - quick, give Wall Street the $1,200 that was suppose to go to Americans.

Seriously, how many trillions was pumped into the stock market in the last few weeks?
 

cytg111

Lifer
Mar 17, 2008
15,122
5,244
136
It depends on how fast folks die. The current system is to have the medical industrial complex vacuum up one's life savings in the last six months of life so don't count on any inheritances unless the medical system is so overwhelmed it can't extract even one more dollar.
Is that factual?
 

IronWing

No Lifer
Jul 20, 2001
61,134
13,979
136
I am thinking if you are uninsured .... being uninsured is a good incentive to NOT go to the hospital if you suspect you are covid19 positive? I would think something national would kick in with a pandemic ?
If you are uninsured and have COVID-19 you would qualify for Medicaid after you burned through your assets. The U.S.'s private/public health isn't geared to do public health very well. If you are uninsured, you're likely in a low wage job and have to work no matter how you feel because you need the money. The lack of universal healthcare makes this pandemic worse than it need be.
 

K1052

Lifer
Aug 21, 2003
35,926
9,587
136
6.6M new jobless claims.

The inability of the government to rapidly inject cash into businesses to retain their employees at reduced wages and pay fixed costs is really going to hobble our recovery out of this mess.

Congress needs to be called back and take over hotels near the capitol so they can work indefinitely without commuting. A recess until late April (at least) is not tenable.
 
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Bitek

Diamond Member
Aug 2, 2001
9,173
3,165
136
6.6M new jobless claims.

The inability of the government to rapidly inject cash into businesses to retain their employees at reduced wages and pay fixed costs is really going to hobble our recovery out of this mess.

Congress needs to be called back and take over hotels near the capitol so they can work indefinitely without commuting. A recess until late April (at least) is not tenable.
It's mind blowing how badly governments are screwing this up, especially those ran by Republicans.

It didn't have to go this way if we acted quickly and decisively.

I'm wondering what the deficit figure it's going to look like. We were already running at 1.1T/yr before all hell broke lose.

$2T? More? $3T? Dwindling tax receipts and big spending is going to make a huge number
 

Staples

Diamond Member
Oct 28, 2001
4,945
109
106
But this thread is about the stock market and man oh man does the stock market love bad news.

S&P500 up 2.28% today.
 

Bitek

Diamond Member
Aug 2, 2001
9,173
3,165
136
Market closed up 7% yesterday, making it 20% up from bottom. Futures looking like opening another 3-4% up.

What are the guys sitting heavy in cash doing?

Anyone buying, or still sitting out out?
 

digiram

Diamond Member
Apr 17, 2004
3,801
72
91
Perhaps, this is a test of our future UBI/automation economy? No one's producing anything, but stocks keep going up based on, I assume, consumption from government handouts. Only thing being produced are dollars by the fed. I feel like we're living in an episode of black mirror.. lol
 

Staples

Diamond Member
Oct 28, 2001
4,945
109
106
Market closed up 7% yesterday, making it 20% up from bottom. Futures looking like opening another 3-4% up.

What are the guys sitting heavy in cash doing?

Anyone buying, or still sitting out out?
DCA on the way down. Or so I though but my first purchase was right before the low and it has been up since. I was expecting a new low to make another purchase.

but I always lose out in the upswing, always. If I never touch anything like the best advisors say, I’d have a lot more money.
 
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vi edit

Elite Member
Super Moderator
Oct 28, 1999
61,020
4,584
126
Market closed up 7% yesterday, making it 20% up from bottom. Futures looking like opening another 3-4% up.

What are the guys sitting heavy in cash doing?

Anyone buying, or still sitting out out?
I wish I had bought in at 19k. But still sitting on cash not wanting to catch this upswing. I think downstream effects are not going to fully shake out for another couple months. And they are going to be bad. I have no idea what the Dow is smoking right now.
 

fskimospy

Elite Member
Mar 10, 2006
71,081
20,730
136
DCA on the way down. Or so I though but my first purchase was right before the low and it has been up since. I was expecting a new low to make another purchase.

but I always lose out in the upswing, always. If I never touch anything like the best advisors say, I’d have a lot more money.
Yes, I am of the very strong opinion that if people who get paid to beat the market as their full time job fail to do so consistently it is unlikely you will do better.
 

Jaskalas

Lifer
Jun 23, 2004
29,779
3,305
126
Perhaps, this is a test of our future UBI/automation economy? No one's producing anything, but stocks keep going up based on, I assume, consumption from government handouts. Only thing being produced are dollars by the fed. I feel like we're living in an episode of black mirror.. lol
UBI would be funded by taxing production. Depending on the specific details of the implementation, it can certainly be deficit neutral. For example, with the economy from 2014-2019 a 25% tax on personal income would have fully covered it. Absolutely affordable, and a net benefit for most Americans. Now, as automation increases and personal income decreases over the years, we'll need to transition what our tax targets - but the principle remains the same.

This isn't really a test of UBI, as people's spending patterns change depending on confidence and continuity. These are one time payments. What is next month, or next year going to look like?

Moreover, we need to address housing. My plan for UBI includes a "nest egg", payments to everyone under 18 as well. By the time they come of age - they'd be able to partner with someone and straight up pay cash for most homes in this nation. That is a powerful and transformative change to our society, but takes a generation to implement in a deficit neutral way. The more immediate housing solution would be a federal home loan with payments guaranteed through UBI. Wall Street gets giant loans and bailouts while our people get foreclosed on? The status quo is terribly wrong. Together, these two programs can put an end to that.

We can provide home and food security to all Americans, we just have to push for the policy that would get it done.
 
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Bitek

Diamond Member
Aug 2, 2001
9,173
3,165
136
I wish I had bought in at 19k. But still sitting on cash not wanting to catch this upswing. I think downstream effects are not going to fully shake out for another couple months. And they are going to be bad. I have no idea what the Dow is smoking right now.
As far as what the market is smoking, it's my interpretation that it's forward looking and anticipating an end to the pandemic (or at least some clarity of the economy post-pandemic) and people are positioning and buying "cheap" shares.

Eg. NYC seems to be near apex, and no burning houses anywhere else, worst may be close in front of us, then pass.

Not saying this is right or wrong on what's going to happen, but it's my experience that the market will move up way ahead of actual conditions in an effort to bet on the future.
Many times, the scariest time to buy is also the best. @ponyo posted about this few pages back.
 

snoopy7548

Diamond Member
Jan 1, 2005
6,301
3,149
136
Yep. The "real" time to buy was a couple of weeks ago; I wish I loaded up on stocks. Yesterday I spread $500 over a few different companies, and I'll probably keep doing that every week.

But I don't know much of anything, so take this with a grain of salt.
 

Bitek

Diamond Member
Aug 2, 2001
9,173
3,165
136
Yep. The "real" time to buy was a couple of weeks ago; I wish I loaded up on stocks. Yesterday I spread $500 over a few different companies, and I'll probably keep doing that every week.

But I don't know much of anything, so take this with a grain of salt.
Yeah, I try to avoid working hard to outsmart myself. I just left most things on autopilot and didn't touch it. There is a portion of my account I do have that I trade with, but it's a small %.
Don't want to bet my retirement on my capacity to not f things up.

Eg the AAPL, TSLA and some other things I'll trade here and there.

Vast bulk goes into index & mutual funds.

Overall my acct is back to sep/oct 2019 levels.
Sucks from Feb 20 highs, but not really a game changer.

Been building a position in tsla back up, so hopefully it goes nuts again and makes all this work worth it.
 

Bitek

Diamond Member
Aug 2, 2001
9,173
3,165
136
Lol, after all that we closed flat.

Who knows, maybe we'll bag another Trump tomorrow.
 

Vic

Elite Member
Jun 12, 2001
47,850
8,166
126
Dead cat bounce. I don't expect the real market rally to occur until we know that America is re-opening and getting back to work.
 
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Bitek

Diamond Member
Aug 2, 2001
9,173
3,165
136
Dead cat bounce. I don't expect the real market rally to occur until we know that America is re-opening and getting back to work.
Who knows when that will be. I don't think normal will return anytime soon.
 

Staples

Diamond Member
Oct 28, 2001
4,945
109
106
I am going to force my hand and make it double bottom.
How can I do just that? I bought in today.
 

hal2kilo

Lifer
Feb 24, 2009
16,351
4,316
136
CNBC headline market goes up 600 points because Bernie drops out. Are market players that seriously stupid.
 

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