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

[FelixDeCat]

lol ... the opinion of the talking heads on CNBC is there is no reason to buy now until after the election..

Freefall or flat ahead? Who knows.

 

[s0me0nesmind1]

Election or not - The COVID situation is having states and cities doing things like closing up restaurants again.

Basically it's a nail in the coffin for all of those businesses that barely scraped by up until now. Enjoy massive unemployment spike and holding out on stimulus bills under the guise of "The other side is the bad person" The real answer is that all of the politicians right now are worthy of a public shaming.

 

[Red Squirrel]

Some activity at one of the mines I'm invested in!

Gowest Gold: Receives Mining Permit for Full Production, Commissions Ore-Sorter and Agrees to Mill Processing Schedule - Gowest Gold

TORONTO, ONTARIO – (October 28, 2020) Gowest Gold Ltd. (“Gowest” or the “Company”) (TSX VENTURE: GWA) is pleased to provide a further update on its progress towards bringing the Company’s 100% owned Bradshaw Gold Deposit (“Bradshaw”) into production. Greg Romain, Gowest President, said, “We have...

www.gowestgold.com

They were more or less at a standstill until they get the permit. I'm still like -$500 in the hole right now though but maybe once they start processing and start delivering it will go up again. We'll see.

It was a big gamble to invest as there's so many mines popping up these days but there is room for growth too. The stocks were originally at like 2 cents so I dumped a grand into them. They since merged though. At around 37 now.

I don't expect any serious return soon but maybe in next 5-10 years I'll see.

 

[ultimatebob]

I'm thinking that it's time to buy some tech during the dip.

Datadog is looking good to me... even during a downturn, IT guys need to monitor their stuff. If anything, they'll want to monitor their cloud spending even more closely to determine where to cut costs.

 

[ultimatebob]

Election or not - The COVID situation is having states and cities doing things like closing up restaurants again.

Basically it's a nail in the coffin for all of those businesses that barely scraped by up until now. Enjoy massive unemployment spike and holding out on stimulus bills under the guise of "The other side is the bad person" The real answer is that all of the politicians right now are worthy of a public shaming.

I think that we'll finally get some stimulus spending after the election. Nobody needs to worry about looking weak to voters at the point.

 

[s0me0nesmind1]

I think that we'll finally get some stimulus spending after the election. Nobody needs to worry about looking weak to voters at the point.

I guess. I just don't see how this looks beneficial for anyone.

Democrats should be passing a stimulus - even if it has a few tidbits that aren't enough for their taste... Especially if they are confident in their ability to win the election, then they should have no problem passing what the Republicans offer now and just passing their remainder afterwards... But holding off entirely is downright stupid and cruel to the Americans suffering right now.


That and people are still being evicted, losing jobs, etc... It's not like this is something that can pass off for a few more months with little repercussions.

 

[IronWing]

I guess. I just don't see how this looks beneficial for anyone.

Democrats should be passing a stimulus - even if it has a few tidbits that aren't enough for their taste... Especially if they are confident in their ability to win the election, then they should have no problem passing what the Republicans offer now and just passing their remainder afterwards... But holding off entirely is downright stupid and cruel to the Americans suffering right now.


That and people are still being evicted, losing jobs, etc... It's not like this is something that can pass off for a few more months with little repercussions.

The Dems passed stimulus bills; Moscow Mitch is sitting on them. The Republicans, as is usual for them, have done nothing for America. The Republicans are incapable of governing.

 

[s0me0nesmind1]

The Dems passed stimulus bills; Moscow Mitch is sitting on them. The Republicans, as is usual for them, have done nothing for America. The Republicans are incapable of governing.

You continue to make everything partisan under the guise of "my guys are good guys that have done everything right" and "other guys are the evil ones holding everything up"

Take a step back from such a narrow point of view for even a minute. Even Democrats internally a few brave ones have openly spoken about their displeasure with Pelosi's actions (or lackthereof)


This was from back in September alone. There have been numerous outspoken critics on the D side since then. There is literally nothing stopping them from passing a stimulus that they 95% agree on and passing whatever other unrelated and unimportant crap when they take office in 2021.

Rep. Cindy Axne (D-Iowa) has been circulating a separate letter among fellow freshman Democrats that will be sent to Pelosi on Friday. He letter calls on Pelosi to bring to the floor a “revised and streamlined” COVID-19 package next week.

“While we have all expressed our willingness to remain in Washington in order to push for an agreement, we write to you now to implore you to bring a revised and streamlined COVID-19 relief package to the floor next week. Americans are counting on us; they cannot wait any longer,” the Axne letter states.

“The political stalemate has gone too long. We demand a vote on a clean relief package that has direct assistance for those in need. Regardless if the White House or Senate agree, we must show the American people that the House of Representatives is open to negotiations and clear in our resolve to deliver aid for millions in need," her letter adds.

Vulnerable Democrats tell Pelosi COVID-19 compromise ‘essential’

A group of vulnerable House Democrats on Thursday began circulating a new letter calling on Speaker Nancy Pelosi (D-Calif.) and Majority Leader Steny Hoyer (D-Md.) to hold a vote on a bipartisan co…

thehill.com

 

[ultimatebob]

You know what has to be the worst job in the world? CNBC headline writer. Every day, you need to take stock market results and the recent news headlines and somehow combine them into something believable even if they doesn't make any sense.

Sometimes they don't even try to blend the two, and you get something like "Stock market drops 800 points after release of better than expected unemployment numbers"

Just once, I would love them to post an honest news headline, like "Stock market rallies 500 points at closing because some Saudi oil billionaires were feeling lucky today"

 

[FelixDeCat]

QQQ $269....Whoddathunkit possible? Hopefully $242 doesnt happen.

 

[dullard]

You know what has to be the worst job in the world? CNBC headline writer. Every day, you need to take stock market results and the recent news headlines and somehow combine them into something believable even if they doesn't make any sense.

Sometimes they don't even try to blend the two, and you get something like "Stock market drops 800 points after release of better than expected unemployment numbers"

Just once, I would love them to post an honest news headline, like "Stock market rallies 500 points at closing because some Saudi oil billionaires were feeling lucky today"

I do agree with your point, that many times there is no clear cut reason why the stock market did what it did. But often, there are very clear spikes or drops that happen the same minute that news is announced. In those cases, it is very clear what caused the specific move. That said, a daily stock move is usually not news and does not even need to be reported (because it can be and often is erased by the next day). Long-term trends are news, but daily moves are rarely news.

Why focus only on CNBC? Any news organization even remotely connected to stocks has that same terrible job.

I think you undersold your "oil billionaire feeling lucky" comment by including it as a joke. I think stock market manipulation is a real thing. There actually are a few people in the world with enough money (and/or control of enough money) or enough news coverage that they can move the market short-term right before an election or right before a key decision.

 

[FelixDeCat]

Hertz gets DIP financing so the stock rallies 150%. I think that is rather stupid. DIP financing means they borrowed another $1,650,000,000 in 1st lien priority financing that supersedes all other debt and equity. So they go deeper in debt as they liquidate.

Does that make the company 150% more valuable today? If you assume they can dispose of all cars (the new/used car markets are very strong right now), keep creditors at bay until they operate profitably again with newly issued equity to payoff debtholders including the new DIP loan. Seems like a very long shot existing shareholders get a dime.

What I want to know is how they have staved off deslisting for so long now.

I have no financial interest in the stock either long or short. Seriously though, unless they can make money in the business they are in, then the company and its shares are worthless.

So Hertz finally gets kicked off the NYSE and the stock falls 75% from $1.65 to just .65 cents.

 

[Captante]

You know what has to be the worst job in the world? CNBC headline writer. Every day, you need to take stock market results and the recent news headlines and somehow combine them into something believable even if they doesn't make any sense.

Sometimes they don't even try to blend the two, and you get something like "Stock market drops 800 points after release of better than expected unemployment numbers"

Just once, I would love them to post an honest news headline, like "Stock market rallies 500 points at closing because some Saudi oil billionaires were feeling lucky today"

A little while ago I made the mistake of clicking a CNBC link in Google News on my phone.

I was so annoyed by the sheer stupidity/irrelevance that I blocked all stories from CNBC!

 

[s0me0nesmind1]

You know what has to be the worst job in the world? CNBC headline writer. Every day, you need to take stock market results and the recent news headlines and somehow combine them into something believable even if they doesn't make any sense.

Sometimes they don't even try to blend the two, and you get something like "Stock market drops 800 points after release of better than expected unemployment numbers"

Just once, I would love them to post an honest news headline, like "Stock market rallies 500 points at closing because some Saudi oil billionaires were feeling lucky today"

A little while ago I made the mistake of clicking a CNBC link in Google News on my phone.

I was so annoyed by the sheer stupidity/irrelevance that I blocked all stories from CNBC!

Hehe, while I agree CNBC is god awfully dumb -I have to admit it's probably the best as far as overall finance news that is available via standard TV.

I would always have Squak Box on in the background when I was traveling out to clients every week M-Thursday and getting ready/dressed in the hotel room.

 

[Captante]

Hehe, while I agree CNBC is god awfully dumb -I have to admit it's probably the best as far as overall finance news that is available via standard TV.

I would always have Squak Box on in the background when I was traveling out to clients every week M-Thursday and getting ready/dressed in the hotel room.

I cut the cord a long time ago so I wouldn't know a lot about TV anymore but I'll take your word for it.

I did unblock them later when I calmed down because they do occasionally have useful info in stories that I want to see.

 

[s0me0nesmind1]

Whats the word on the street here yo -

COVID ramping up in Europe.
COVID ramping up here.
No vaccine really in sight yet.

Everyone shitting bricks about an election, potential government election meddling fearmongering, etc...

Are we in for some big dips in the next month?

 

[dullard]

Are we in for some big dips in the next month?

I hope so. I took money out of stocks in August (an okay move, but wish I had waited 2 weeks more). I had no plans to get back in until after the election.

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[FelixDeCat]

I like to hear a variety of insights and opinions and late breaking financial news. So I listen to both CNBC & Fox Business throughout the day. Since I trade short term and its important to keep up with whats going on.....

whats goin on....

....whats goin on....

 

[dasherHampton]

Welp, everything expired today except for Seagate.

I could have bought the puts back on Monday and broke even but my gut tells me I can make at least a few grand off of those shares. I wonder if it's right or just indigestion.

After cashing in nicely on STX puts all summer its time to look at calls.

 

[dasherHampton]

Rule # 256,341 regarding the market: Never be stubborn. Flexibility is a virtue.

My AAPL and TSLA shares were up over a combined $5000 at one point. Why in the hell didn't I take profit? I had this stubborn idea of holding those shares until I retire and not making any moves until then.

Everyone knew tech was in a bubble that was going to pop to varying degrees at some point. It's not like it was a secret or something.

The shares are down like $500 now. I know they'll come back but it was still a stupid obstinate move on my part not to consider taking some profit there.

 

[ponyo]

Rule # 256,341 regarding the market: Never be stubborn. Flexibility is a virtue.

My AAPL and TSLA shares were up over a combined $5000 at one point. Why in the hell didn't I take profit? I had this stubborn idea of holding those shares until I retire and not making any moves until then.

Everyone knew tech was in a bubble that was going to pop to varying degrees at some point. It's not like it was a secret or something.

The shares are down like $500 now. I know they'll come back but it was still a stupid obstinate move on my part not to consider taking some profit there.

I rather look forward than backwards. You were up $5000 because you were stubborn. If you were flexible, you would've sold way before you got to $5000. So it works both ways.

If you worry about small money, you'll miss big money.

 

[dasherHampton]

I rather look forward than backwards. You were up $5000 because you were stubborn. If you were flexible, you would've sold way before you got to $5000. So it works both ways.

If you worry about small money, you'll miss big money.

Eh, maybe you're right, maybe not. We exist in opposite ends of the trading world.

But I can guarantee you, Ponyo - the guys who make the really big bucks don't just hold.

 

[zinfamous]

You continue to make everything partisan under the guise of "my guys are good guys that have done everything right" and "other guys are the evil ones holding everything up"

Vulnerable Democrats tell Pelosi COVID-19 compromise ‘essential’

A group of vulnerable House Democrats on Thursday began circulating a new letter calling on Speaker Nancy Pelosi (D-Calif.) and Majority Leader Steny Hoyer (D-Md.) to hold a vote on a bipartisan co…

thehill.com

You just blamed Democrats for not doing something that they have literally done/attempted 3 times already, and anyway don't have complete power to do. There is literally only one party that is plainly responsible for why we are were we are right now. It isn't debatable.

and you're out here blaming others for being partisan while making up arguments that don't really exist in this world.

 

[ponyo]

Eh, maybe you're right, maybe not. We exist in opposite ends of the trading world.

But I can guarantee you, Ponyo - the guys who make the really big bucks don't just hold.

The only guarantee is no guarantee.

 

[FelixDeCat]

There is literally only one party that is plainly responsible

The fiscally responsible party?