Markets still falling like whoa

[Rusty Shackelford 414]

Crisis over

[Rusty Shackelford 414]

50 minutes ago, Henry Hill said:

Mega dead cat bounce or are we looking at a rally to 30,000 and beyond?

Maybe it's just me, but I don't think "dead cat bounce" would ever apply to the DJIA.   I reserve that term for shit companies like CHK or JCP

[washparkhorn 9939]

9 hours ago, bernorange said:

@washparkhorn - The Fed's toolbox is not a font of unlimited power.  It was just a few months ago (back in October) that the IMF warned that the (global banking) system can't handle a significant shock.  They weren't the only voice over the last year or so saying it, but I mention them to illustrate how mainstream the analysis is. 

Agree, but at this particular moment - we all must always pay attention to what the Fed says.

When Yellen promised a few years ago there would be no more financial crises in our lifetime that is precedent - until it isn't as you note. Bears will get smashed over and over again until TPTB find a bear market advantageous. They have the dough and the Fed on their side of the ledger. 

This crisis isn't over. And the asset bubble continues on. Your concerns are well taken. 

[jimmyjazz 46480]

1 hour ago, babysdaddy said:

You don't have to buy it.  My point is that if it was a Bernie blowout (multiple state victory) then it increases the odds of him being the presumptive Democratic nominee.  That in turn increases the chance of him being President which would be negative for equity prices.  Increased risk to equity prices equals reducing equity exposure.  

As a counterpoint, which carries the asterisk that it was very early (but it's still "early"), stocks hit their all-time high AFTER Bernie's Iowa and New Hampshire performances.  

[Harrison Stafford 3353]

If you trade stocks, you live for this kind of volatility.

[Wally Fairway 5600]

22 hours ago, workswithseed said:

That's not good, looks like lots of people will be unhappy about this.

 

21 hours ago, workswithseed said:

https://status.robinhood.com/

I am seeing comments today that RH was down because of coding glitches related to leap day, somehow yesterday their software was looking for March 3 quotes. The alleged confirmation of this is that the exact same thing happened 4 years ago.

source: reddit/r/wsb

 

[Wally Fairway 5600]

On 2/24/2020 at 2:56 PM, Wally Fairway said:

First piece of advice I've seen from r/wallstreetbets

update on the news/investing cycle

[hornhorn 100]

1 hour ago, Wally Fairway said:

 

I am seeing comments today that RH was down because of coding glitches related to leap day, somehow yesterday their software was looking for March 3 quotes. The alleged confirmation of this is that the exact same thing happened 4 years ago.

source: reddit/r/wsb

 

[workswithseed 2140]

1 hour ago, Wally Fairway said:

 

I am seeing comments today that RH was down because of coding glitches related to leap day, somehow yesterday their software was looking for March 3 quotes. The alleged confirmation of this is that the exact same thing happened 4 years ago.

source: reddit/r/wsb

 

So it was y2k but for RH. Seriously, will that happen every leap year?

[Rusty Shackelford 414]

Looks like we're in for another deep "V" shaped rally, just like Christmas 2018.

[Bosco 56]

50 basis point surprise cut by Fed, Dow rallies 600 points.

[Rusty Shackelford 414]

It was not really a surprise

[BLKNSTY 289]

I am seeing comments today that RH was down because of coding glitches related to leap day, somehow yesterday their software was looking for March 3 quotes. The alleged confirmation of this is that the exact same thing happened 4 years ago.
source: reddit/r/wsb
 

Down again today....


Sent from my iPhone using Tapatalk

[Wally Fairway 5600]

2 minutes ago, BLKNSTY said:

 

Down again today....


Sent from my iPhone using Tapatalk

 

glad that I'm not a RH user, especially for the autist on r/wsb who use it as an investing platform

[Tailgate 3026]

Seriously....I had never heard of the Robinhood trading app until the last week watching this thread. But damn, that’s some serious horse-shit back-up planning for a company trading securities. I would have to imagine there are some legal/SEC issues right around the corner. In addition to a mass exodus of users.

[bernorange 8375]

Just now, Tailgate said:

Seriously....I had never heard of the Robinhood trading app until the last week watching this thread. ...

 

[Incredulity 11697]

Go home market, you're drunk.

[bernorange 8375]

G7 central bankers meet, release statement that they will do what's needed to support economies in response to coronavirus, but don't actually do anything.  Markets are disappointed.

[tx 3 putt 77944]

3 minutes ago, bernorange said:

G7 central bankers meet, release statement that they will do what's needed to support economies in response to coronavirus, but don't actually do anything.  Markets are disappointed.

 

lulz 

[BLKNSTY 289]

50 basis point surprise cut by Fed, Dow rallies 600 points.

If we close red (we’ve been drifting downwards the last hour or so) on the day of the largest rate cut since 2008, hold on to your shit fellas. I haven’t moved to cash, and in fact have bought the dip, but today will be incredibly telling. Might actually pull the trigger.
A 50 bp rate cut?? A few weeks after we hit all-time highs??


Sent from my iPhone using Tapatalk

[Blotto 23712]

3 minutes ago, BLKNSTY said:

 

If we close red (we’ve been drifting downwards the last hour or so) on the day of the largest rate cut since 2008, hold on to your shit fellas. I haven’t moved to cash, and in fact have bought the dip, but today will be incredibly telling. Might actually pull the trigger.
A 50 bp rate cut?? A few weeks after we hit all-time highs??


Sent from my iPhone using Tapatalk

 

Everyone knows that rate cuts will solve supply chain issues and make the virus go away. 

[bernorange 8375]

Wall Street doesn't care about fundamental problems, they just want a hit of that crack cocaine.

[babysdaddy 2730]

And the real estate guy running the country tweets out he wants 50 more.  Monetary policy has zero effect on virus fears. It is never enough. I hate his jawboning of the Fed.

There is going to be a liquidity suck when the machines get turned off and decide to head for the hills.  

[The Royal We 3072]

This makes no sense.  Let's gorge on more of our seed corn even though we've already got the sugars and the high blood.

[Skipper 6320]

1 hour ago, BLKNSTY said:

 

If we close red (we’ve been drifting downwards the last hour or so) on the day of the largest rate cut since 2008, hold on to your shit fellas. I haven’t moved to cash, and in fact have bought the dip, but today will be incredibly telling. Might actually pull the trigger.
A 50 bp rate cut?? A few weeks after we hit all-time highs??


Sent from my iPhone using Tapatalk

 

I sold a bit more yesterday.   I don't think Trump's smoke and mirrors are going to help in the long run.  Hope I'm wrong.  I'll gladly lose a little for this to all blow over.

[dcar00 14609]

the rate cut was priced in yesterday. if you bought more at 25,000 for long term you are good.  I'm directly in the supply chain for components.  I realize that is not everything but China facilities are back at 80% of full capacity.  there will be a hit but it will be short lived(relatively) if you are a long term investory.  there is high pressure on both sides of the equation which is good for the consumer.

[Aqua Buddha 14656]

I can tell you that Big Retail is still ordering massive amounts from Big Food.  We're seeing triple digits sales increases in major West Coast markets.  Serious worries about manufacturing capacity depending on how long this goes.

[Trey3216 15380]

Holy shit.   The 10 year yield just dropped below 1% for the first time ever.   Unreal 

[heso 2822]

The message that all is well does not match the action of the biggest rate cut since the recession and all it’s going to do in the short term is show people that there is an actual problem, however short lived it may be. 

The rate cut was nothing more than a shortsighted attempt to calm everyone down. 

[The Royal We 3072]

3 hours ago, BLKNSTY said:

 

If we close red (we’ve been drifting downwards the last hour or so) on the day of the largest rate cut since 2008, hold on to your shit fellas. I haven’t moved to cash, and in fact have bought the dip, but today will be incredibly telling. Might actually pull the trigger.
A 50 bp rate cut?? A few weeks after we hit all-time highs??


Sent from my iPhone using Tapatalk

 

Welp.

[SimonBolivar 10961]

36 minutes ago, Trey3216 said:

Holy shit.   The 10 year yield just dropped below 1% for the first time ever.   Unreal 

All the analysts knew it was coming, but still kind of shocking to see in reality.

[Trey3216 15380]

1 minute ago, SimonBolivar said:

All the analysts knew it was coming, but still kind of shocking to see in reality.

Yep.   Dropped as low as .906%.  That’s massive 

[Trey3216 15380]

Indexes about to give back the entirety of yesterday 

[jimmyjazz 46480]

So, refinance soon?

[Chult86 335]

As someone about to purchase a new home, rate cuts sound good to me for the short-term. As someone worried about the long term health of the country, rate cuts do not sound good.

[Anastasis 23514]

12 minutes ago, jimmyjazz said:

So, refinance soon?

lol, I was just running different online calculators. 

[heso 2822]

9 minutes ago, Chult86 said:

As someone about to purchase a new home, rate cuts sound good to me for the short-term. As someone worried about the long term health of the country, rate cuts do not sound good.

Are there a bunch of olds in the area you’re looking to buy? Might be prudent to wait a few months. 

[0xdeadbeef 1654]

On 3/2/2020 at 1:50 AM, 0xdeadbeef said:

On Friday I was thinking I would get back in the market Monday morning and ride it back up a bit. After reading way too much stuff on the internet this weekend, I reversed and put SELL orders in for virtually everything I have, including my beloved blue-chip dividend stocks.   My bottom line question for myself was "Do I think the market is going to be lower is 2-3 months time?" If I had answered "I'm not sure", I would stay in and ride it down and up.  But coronavirus is a dark-ass storm coming and I think it's going to F things up for a while. 

I'm just going to take my pile of cash and sit over in the corner for a few months.   

I see two factors in play.   First the fear/panic over the coronavirus in our everyday lives is going to put downward pressure on the market.  I don't know how long it will take, but we should adjust to that.  Then, quarterly results are going to start coming in, and it's going to be bad across the board.  Tech companies, Hotels, Airlines, Oil companies, shipping companies,  you name it.  Numbers are going to be bad.

Seems like there could be a rebound from the fear/panic part before results start getting announced.  There could be a nice peak in there for someone....but not me. I'll be in the corner.

 

 

[tx 3 putt 77944]

20 minutes ago, Anastasis said:

lol, I was just running different online calculators. 

im about to make @UTPhil2006 take me to pappas steakhouse to discuss my upcoming refinance. 

 

Edited March 3, 2020 by tx 3 putt

[Catpfish 618]

8 minutes ago, 0xdeadbeef said:

I'm just going to take my pile of cash and sit over in the corner for a few months.   

I see two factors in play.   First the fear/panic over the coronavirus in our everyday lives is going to put downward pressure on the market.  I don't know how long it will take, but we should adjust to that.  Then, quarterly results are going to start coming in, and it's going to be bad across the board.  Tech companies, Hotels, Airlines, Oil companies, shipping companies,  you name it.  Numbers are going to be bad.

Seems like there could be a rebound from the fear/panic part before results start getting announced.  There could be a nice peak in there for someone....but not me. I'll be in the corner.

 

 

But don't you think that a lot of the corona fear is the effect on the future earnings and that it is being baked into the cake...at least somewhat.  All of the guidance that I have seen is downplaying expectations so it's not like the bad news will be a surprise

[UTPhil2006 3828]

20 minutes ago, tx 3 putt said:

im about to make @UTPhil2006 take me to pappas steakhouse to discuss my upcoming refinance. 

 

Done and done. 

[Tailgate 3026]

Question for serious TSLA investors. How is this stock weathering days like today and besides last week we continue to see pops of almost 5% nearly daily. Were they way underpriced for far too long? I am seeing a lot more Tesla’s on the road...just want to ask some questions as I review this stock.

Edited March 3, 2020 by Tailgate

[Trey3216 15380]

48 minutes ago, Chult86 said:

As someone about to purchase a new home, rate cuts sound good to me for the short-term. As someone worried about the long term health of the country, rate cuts do not sound good.

Rate cuts are good, outside of the higher prices that correspond with low rates.  

 

At least there's some market fear to assuage some of the high pricing, which sucks for me since I'm helping mom and dad sell their home.  

[Rip76 4987]

1 hour ago, jimmyjazz said:

So, refinance soon?

Yup 

[52-80 19281]

let the prices hit the floor

let the prices hit the floor

let the prices hit the floor

let the prices hit the..... fllooooooooouuuuuuhhhrrrrrrrrrrrrrrr

[Blotto 23712]

30 minutes ago, Tailgate said:

Question for serious TSLA investors. How is this stock weathering days like today and besides last week we continue to see pops of almost 5% nearly daily. Were they way underpriced for far too long? I am seeing a lot more Tesla’s on the road...just want to ask some questions as I review this stock.

Do yourself a favor and stop trying to tie TSLA stock performance to anything other than rampant speculation. There is no tangible real life metric that explains the stock price. It would be similar to trying to explain bitcoin price swings. It is also is a heavily shorted stock which can skew price movements as well.

It currently has a market cap much greater than Ford, GM, and Chrysler combined, yet has a fraction of the revenue and has never turned an annual profit. Last year TSLA revenue grew less than 15% and the stock tripled. Here's a screenshot of their revenues and earnings

For comparisons sake, here is Toyota's financials:

 

A few weeks ago TSLA had a higher market cap than Toyota. There are plenty of believers in TSLA, and they will make the argument that the stock is undervalued today. At the end of the day, TSLA is in the business of selling large hunks of moving metal. They haven't figured out a way to do so profitably yet. 

 

[clapclapclap 9000]

There's a reason why Tesla's next model will be named the Tulip.

[Thetexashammer 1062]

Whenever important people are making important pronouncements, keep this image in mind.

[atomheartbevo 90058]

https://www.cnn.com/2020/03/03/business/jpmorgan-coronavirus-work-home/index.html
 

Quote

JPMorgan Chase is bracing for the coronavirus outbreak by asking thousands of its employees to work from home for a day to test contingency plans, a person familiar with the matter told CNN Business.

The move shows how seriously the largest bank in the United States is taking the risks posed to its operations by the fast-moving health crisis.

Contingency planning at JPMorgan's (JPM) consumer bank, code-named "Project Kennedy," included asking 10% of the staff to work from home for a day to test their remote access capabilities, the person told CNN Business.

 

[dimyh 1874]

So what's the speculation for the next couple of weeks? I'm no player but have been holding off on make my annual IRA contribution. Still tons of room to fall? Or should I go ahead and buy in?