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

[s0me0nesmind1]

Man oh man - this is just seeming like an endless cycle.

I hope theres a shit ton of working class people that are single. With schools / daycares likely to shut down - someone has to watch the kid. You better hope that leaves enough nurses, doctors, firefighters, cops, grocery store workers, grocery distributors, etc...

This is just going to be pure ugliness for at least the next 3 weeks. This is what makes me fear we are NO WHERE close to our bottom - to the point of wanting to sell all my stocks.... I won't do it, but god damn it's tempting because I don't see how we won't drop another 50%.

 

[Linux23]

Man oh man - this is just seeming like an endless cycle.

I hope theres a shit ton of working class people that are single. With schools / daycares likely to shut down - someone has to watch the kid. You better hope that leaves enough nurses, doctors, firefighters, cops, grocery store workers, grocery distributors, etc...

This is just going to be pure ugliness for at least the next 3 weeks. This is what makes me fear we are NO WHERE close to our bottom - to the point of wanting to sell all my stocks.... I won't do it, but god damn it's tempting because I don't see how we won't drop another 50%.

don't panick.

POFS45 says this will be all over once the weather gets warmer in April.

 

[IronWing]

don't panick.

POFS45 says this will be all over once the weather gets warmer in April.

POFS? What happened to PABUS?

 

[s0me0nesmind1]

Watch this, this is the reality to come

Yeah, Cuomo is spot the fuck on here....

1. Bring out the military - no question here
2. Right now, it's all about management - and specifically a manager that can make the BEST decision. The best decision isn't a magical cure that fixes all the problems. It's about what stops the most.

 

[luv2liv]

everything Trump touches tend to go bankrupt. USA is no exception.
i knew this moment would come and kinda surprised it took this long. was expecting things to go south in 2018 or 2019. will buy a bunch of stocks once DJI hits 15,000.
good luck everyone.

 

[FelixDeCat]

Yeah, Cuomo is spot the fuck on here....

1. Bring out the military - no question here
2. Right now, it's all about management - and specifically a manager that can make the BEST decision. The best decision isn't a magical cure that fixes all the problems. It's about what stops the most.

Brainsss.....braaaiiinnnssss!

 

[Svnla]

I see red everywhere in the stock market with a handful of green. CD and savings rates are dropping like a rock across all banks, even the online ones. My Capital One 1 year CD matured just a few weeks ago in February with a 2.70% APY. Now the same CD with same term only pays 1.00% APY.

Depressing.

 

[FelixDeCat]

Back in SQQQ 26.90, small position.

 

[PlanetJosh]

How far do the markets have to drop until your brokerage money market funds are in danger of losing principle? A 50% drop from the Feb highs? Wondering if someday I'll need to dump the money market funds and get CDs instead. I know some will say to just buy stocks at such a low drop in the markets but I want/need to keep some cash in case of a 1929 type of crash.

 

[FelixDeCat]

I see red everywhere in the stock market with a handful of green. CD and savings rates are dropping like a rock across all banks, even the online ones. My Capital One 1 year CD matured just a few weeks ago in February with a 2.70% APY. Now the same CD with same term only pays 1.00% APY.

Depressing.

Imagine if you were retired right now. Not making your 4% for RMDs and finding it hard to get any yield.

Back to work!

 

[FelixDeCat]

How far do the markets have to drop until your brokerage money market funds are in danger of losing principle? A 50% drop from the Feb highs? Wondering if someday I'll need to dump the money market funds and get CDs instead.

That is called "breaking the buck". Last time it happened was 2008. I doubt it happens again unless the government defaults on its debt and all its guarantees, in which case you will see a Venezuela type situation with riots over food and water and 50% unemployment with hyperinflation.

 

[JEDI]

That is called "breaking the buck". Last time it happened was 2008. I doubt it happens again unless the government defaults on its debt and all its guarantees,
in which case you will see a Venezuela type situation with riots over food and water and 50% unemployment with hyperinflation.

and toilet paper!
oh wait...

 

[JEDI]

Imagine if you were retired right now. Not making your 4% for RMDs and finding it hard to get any yield.

Back to work!

so glad my mom has a pension and social security that more than covers her expenses.
next year she'll be forced to take minimum 401k withdraws. she has no clue what to do with the $ besides stick it in her bank acct which is earning like .5%.

 

[snoopy7548]

so glad my mom has a pension and social security that more than covers her expenses.
next year she'll be forced to take minimum 401k withdraws. she has no clue what to do with the $.
(and frankly, neither do I.)

She can give the money to me.

 

[rh71]

I'm not a heavy gambl... investor so I just opened a CD with Marcus (Goldman Sachs) @ 1.85% for the moment. Rate locked for 10 days until I fund it and can still add to it for 30 days. Expecting my savings acct rate at Capital One to drop even further from 1.5% soon...

As for the market, I only care about my 401k which IS my hard-earned money too. Down $30k in the last 15 days. Lows feel worse than any high. Isn't that how you guys feel?

 

[JEDI]

Expecting my savings acct rate at Capital One to drop even further from 1.5% soon...

surprised it's still that high with the Fed at 0%.

 

[FelixDeCat]

so glad my mom has a pension and social security that more than covers her expenses.
next year she'll be forced to take minimum 401k withdraws. she has no clue what to do with the $ besides stick it in her bank acct which is earning like .5%.

My parents are also retired. Thankfully everything is ok.

 

[rh71]

surprised it's still that high with the Fed at 0%.

Yeah just confirmed it's still at 1.5%.

 

[JEDI]

so the market, investors and a virus meet at a bar...

 

[njdevilsfan87]

BA has been hit really hard - that company couldn't have had a worse time to be having issues. It's down 60% from where it was trading for two years, and has fallen back into a price range that began over 6 years ago! Nearly 6% dividend at current prices... (edit - Google claims 5.99% and TradingView claims 4.83% so I'm not sure which it is). I almost bought this at $350 last year. So glad I decided not to.

 

[Svnla]

Imagine if you were retired right now. Not making your 4% for RMDs and finding it hard to get any yield.

Back to work!

I'm not a heavy gambl... investor so I just opened a CD with Marcus (Goldman Sachs) @ 1.85% for the moment. Rate locked for 10 days until I fund it and can still add to it for 30 days. Expecting my savings acct rate at Capital One to drop even further from 1.5% soon...

As for the market, I only care about my 401k which IS my hard-earned money too. Down $30k in the last 15 days. Lows feel worse than any high. Isn't that how you guys feel?

I just check online saving accounts and most of them are still the same rate (2.05% as highest and most are in 1.8xx) same as of last week.

One year CD rates are still decent, most are in the low 2.xx%.

I expect they all will be lower within a few days or by next week.

Imagine if we do have negative interest rate as in Europe. Yike.

In other news, cheapest gas around here is about $1.59/gal of regular. Exxon stock is down from $60/share a month ago to about $35/share right now. Chevron is down from $110 to $72. Shell is down from $51 to $24.

 

[JEDI]

BA has been hit really hard - that company couldn't have had a worse time to be having issues. It's down 60% from where it was trading for two years, and has fallen back into a price range that began over 6 years ago! Nearly 6% dividend at current prices... (edit - Google claims 5.99% and TradingView claims 4.83% so I'm not sure which it is). I almost bought this at $350 last year. So glad I decided not to.

thought you were talking about British Airways.

surprised BA is the symbol for Boeing.
why did they pick BA as their stock symbol since its not intuitive?

 

[[DHT]Osiris]

We just faceplanted. Friendly reminder, we're now in Q1 2017.

When we hit where it was on 20JAN2017, the VR simulation will end, we'll take off our helmets in late 2016, and say 'wow, what a great idea, now I'll know what'll happen if I vote for Trump!'.

 

[JEDI]

dow -2962 points at market close

oil could fall as low as $23/barrel:
https://www.forbes.com/sites/simonconstable/2020/03/09/brace-yourself-for-another-33-drop-in-the-price-of-crude-oil

"But it will likely get far worse, analysts say.

A barrel of light sweet crude could soon plummet to $23 a barrel, a level even lower than that seen in 2016 when the price hit $26."

I will be printing MAJOR $$$ if it drops to $23/barrel!

 

[FelixDeCat]

No bragging, damnit!