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

[JEDI]

It's good and fun on a message board, but in all seriousness:

A lot of retirees have been told over the past decade that oil was safe until at least 2030. It still probably is.

But this will be harsh awakening for folks who have no ability to recover. A nervous cup of coffee, to be sure.

what do you mean was told oil was safe for the past decade??? oil dropped like a rock 5 years ago!
these retirees were given wrong financial advise or did they not think why gas at the pump was $0.99/gallon 5yrs ago?

the older you are, the more in bonds you should be.
if retired, Boglehead consensus is at least 40% bonds.

 

[dasherHampton]

2030 is a conservative measure. Many had it safe until 2040.

 

[FelixDeCat]

Commodity price panics have occurred many, many times in American history for almost every type including Gold, Silver, Coffee, Oil, you name it.

Speaking of Gold, they decided to short that one too, now its also negative.

No place to hide tomorrow but cash.

 

[JEDI]

Speaking of Gold, they decided to short that one too, now its also negative.

No place to hide tomorrow but cash.

thought gold pierced the $1700 resistance level?

 

[FelixDeCat]

thought gold pierced the $1700 resistance level?

Gold Slides Below $1,700 as Investors Look Everywhere for Cash

Gold Slides Below $1,700 as Investors Look Everywhere for Cash

(Bloomberg) -- Not even gold is immune to the barrage of selling that’s hitting global markets today.The precious metal jumped above $1,700 an ounce when markets opened in Asia, but couldn’t sustain the new high as investors dumped risk assets in a round of panic selling.While gold is viewed as...

finance.yahoo.com

 

[s0me0nesmind1]

It's good and fun on a message board, but in all seriousness:

A lot of retirees have been told over the past decade that oil was safe until at least 2030. It still probably is.

But this will be harsh awakening for folks who have no ability to recover. A nervous cup of coffee, to be sure.

Anyone with half a brain has been preaching this for decades: Oil is volatile.

 

[s0me0nesmind1]

Dow futures down ~1300 as of this morning prior to open.

 

[nisryus]

Pre-market and Tesla is at $615..

 

[FelixDeCat]

16,000,000 people in locked down in Italy.

European markets in free-fall down 7-10%

 

[JEDI]

Ok, so USOU, UWTI, WTIU are the 3x LONG OIL ETFs. Now, OIL is down 33% today, so theoretically, these ETFs should go to ZERO.

WTID, DWTI and USOD are the 3X SHORT OIL ETFs. These should be up 100% today.

I know these things have clauses where if the fund manager thinks an ETF has collapsed and is nonfunctional, they can halt trading and cash out it for whatever they think is fair, never to trade again.

premarket 8am: oil @ 32 (-22%), uwti @ 1.7, dwti @ 16.5 (70% gain)

so 22% x 3 = 66%.

but because of consecutive down days, leveraged shorts get a slight multiplicative gain. in this case , it looks like 4%

 

[s0me0nesmind1]

Anyone think mortgage rates still have room to fall?

 

[Roger Wilco]

Any good oil stocks to gobble up cheap right now?

 

[FelixDeCat]

I said it earlier this year, be careful what you buy. Until the panic is over, its not safe to go outside. My goal was QQQ 192 going back a few weeks, and its about to hit it. Assuming the worst, we may see QQQ 140, which is a 42% decline from its high of 234.

Many oil companies will be filing for bankruptcy,. For your own sanity, stay the hell away from oil.

People have been buying XOM and getting burned all the way down, and they are the most likely to survive.

 

[Roger Wilco]

Hmm ok.

 

[nisryus]

Friends being betting on INO and CODX. Indeed INO has gained quite a bit throughout the week and is posed to reach 18 today. But not too sure if it is too late to join in the fun as short.

 

[JEDI]

Cruise lines can fail. Government won't care.

then one should short them.
but there's no cruise line etf.
heck, I cant even find a travel and tourism etf

https://etfdb.com/etfs/industry/leisure--entertainment/

 

[MomentsofSanity]

Just going to throw this out there. Be aware of circuit breaker triggers today. They will be hit. A lot.

 

[s0me0nesmind1]

Just going to throw this out there. Be aware of circuit breaker triggers today. They will be hit. A lot.

View attachment 17911

You referring to things in place that halt all market trading for a given period of time I'm guessing?

 

[MomentsofSanity]

You referring to things in place that halt all market trading for a given period of time I'm guessing?

Yes. Individual stocks will hit their own triggers as well but this is specifically market wide triggers.

 

[Captante]

Yes. Individual stocks will hit their own triggers as well but this is specifically market wide triggers.

I'd be shocked if we don't see this in a hurry this morning.

 

[MomentsofSanity]

I'd be shocked if we don't see this in a hurry this morning.

Yeah down 1825 already. Fuck me.

An entire room of almost 200 traders just exclaimed "holy fuck" in unison.

 

[Roger Wilco]

Wow. The DOW just went down almost 2000 in less than a minute.

 

[IronWing]

Yeah down 1825 already. Fuck me.

An entire room of almost 200 traders just exclaimed "holy fuck" in unison.

Make a video, post the soundtrack.

 

[Captante]

Oil down 20% +

 

[MomentsofSanity]

Halts already on AmZN, TSLA etc...