Markets still falling like whoa

[Trey3216 15346]

5 minutes ago, Nice Guy Eddie said:

Any indications yet for Monday’s open? 

Gonna be horrific if there isn’t some calmer heads talking about the oil price war that looks about to happen.  

[Wally Fairway 5550]

Just now, Trey3216 said:

Gonna be horrific if there isn’t some calmer heads talking about the oil price war that looks about to happen.  

I'm thinking it opens higher, at least they is where futures open that way

[Thetexashammer 1062]

6 hours ago, bernorange said:

Oil markets in are in a bit of turmoil right now as Saudi Arabia and Russia butt heads over OPEC+ policy.  Meanwhile, Lebanon is set for a sovereign debt default.  Not sure which, if any, big banks are exposed here or if it's mostly IMF/World Bank types...

https://www.reuters.com/article/us-lebanon-crisis/declaring-it-cannot-pay-debts-lebanon-sets-stage-for-default-idUSKBN20U0DH

That line brought the lulz.

It's a billion dollars. The ECB shits a solid billion before breakfast.

[Royalfan5 2354]

Oil opened down 27%. 

[workswithseed 2111]

2 minutes ago, Royalfan5 said:

Oil opened down 27%. 

[Anastasis 23473]

Dow and SP down 3.8%.

 

[Message Board User 12395]

 

[Lurch 5930]

I’m moving my 401ks from 70/30 S&Pindx/Currency to 10/90. Plan on holding for at least 6 weeks

 

[FartingMonk 3607]

Holy fuck

[UTGrad98 2276]

Question. S and P down almost 5% currently in after hours trading. Do circuit breakers apply even when the market is closed ? First one is at 7%

[Grade of D as in David 13253]

No idea about premarket circuit breakers. Good question.

Just read that the biggest one day drop in oil after 9/11 was only 15%.

Fuck.

 

[Wally Fairway 5550]

On 3/5/2020 at 10:41 AM, Girdwood said:

bump, cuz Monday looks to be an exciting ride

[Guest Lobo]

Limit up/Limit downs can only be implemented during the 9:30-4:00p window.  I believe circuit breakers can be deployed during pre-hours/futures.  

[Message Board User 12395]

 

[Anastasis 23473]

 

[Anastasis 23473]

57 minutes ago, Lobo said:

Limit up/Limit downs can only be implemented during the 9:30-4:00p window.  I believe circuit breakers can be deployed during pre-hours/futures.  

https://finance.yahoo.com/news/rout-u-stock-futures-trigger-221631295.html

Looks like we hit a breaker @ 805 ET.  They have backstopped the bottom. 

 

E-mini futures on the S&P 500 Index sank 5% to 2,819 as of 8:05 p.m. in New York, hitting a limit triggered when the measure falls 5% from the price calculated in the last 30 seconds of trading Friday. The curb means the contract can’t trade at a lower price for the remainder of the overnight session, although transactions at or above the threshold are allowed.

[Anastasis 23473]

So what was the market fucking thinking with that Friday close?

[Aqua Buddha 14598]

20 minutes ago, Anastasis said:

So what was the market fucking thinking with that Friday close?

[Party_Taco 3732]

I’m moving my 401ks from 70/30 S&Pindx/Currency to 10/90. Plan on holding for at least 6 weeks

 

Yeah, I just moved it all around too... wished I had done it last week when I had the itch, just didn’t have the time.

 

6 weeks seems like a good amount of time to reevaluate.

[TwiceHorn 31486]

On 3/5/2020 at 12:23 AM, Not a cat said:

So, really not at all like a psycho girlfriend or wife?

Mildly psycho.  As in all of them.

[Rip76 4928]

1 hour ago, Wally Fairway said:

bump, cuz Monday looks to be an exciting ride

-1500?

[Francisco 2.0 32395]

I fully expect Larry Kudrow to be on the networks bright and early in the morning proclaiming everything is going great, virus is fully contained, etc.

[Anastasis 23473]

3 minutes ago, Rip76 said:

-1500?

[UTGrad98 2276]

33 minutes ago, Anastasis said:

https://finance.yahoo.com/news/rout-u-stock-futures-trigger-221631295.html

Looks like we hit a breaker @ 805 ET.  They have backstopped the bottom. 

 

E-mini futures on the S&P 500 Index sank 5% to 2,819 as of 8:05 p.m. in New York, hitting a limit triggered when the measure falls 5% from the price calculated in the last 30 seconds of trading Friday. The curb means the contract can’t trade at a lower price for the remainder of the overnight session, although transactions at or above the threshold are allowed.

So what that means is an overnight session can never trade below 5% of the previous day close ever ? Correct ?

[Anastasis 23473]

Refresher on breakers.  Anyone want to create some action on hitting a level 1?

Market volatility regulations

Circuit breakers
Circuit-breaker points represent the thresholds at which trading is halted market-wide for single-day declines in the S&P 500 Index. Circuit breakers halt trading on the nation's stock markets during dramatic drops and are set at 7%, 13%, and 20% of the closing price for the previous day. The circuit breakers are calculated daily.

Level 1 halt (7%)

Trading will halt for 15 minutes if drop occurs before 3:25 p.m.

At or after 3:25 p.m.—trading shall continue, unless there is a Level 3 halt.

Level 2 halt (13%)

Trading will halt for 15 minutes if drop occurs before 3:25 p.m.

At or after 3:25 p.m.—trading shall continue, unless there is a Level 3 halt.

Level 3 halt (20%)

At any time during the trading day—trading shall halt for the remainder of the trading day.

Single stock price bands
The SEC implemented a new marketplace rule, known as the Limit Up-Limit Down Rule, designed to prevent trades from executing outside of price bands established throughout the day for individual stocks and exchange-traded funds (ETFs).

[Anastasis 23473]

1 minute ago, UTGrad98 said:

So what that means is an overnight session can never trade below 5% of the previous day close ever ? Correct ?

yep, that's how I read it.  SP Currently @ -4.89%.

Edited March 9, 2020 by Anastasis

[Rip76 4928]

1 minute ago, Anastasis said:

Refresher on breakers.  Anyone want to create some action on hitting a level 1?

Market volatility regulations

Circuit breakers
Circuit-breaker points represent the thresholds at which trading is halted market-wide for single-day declines in the S&P 500 Index. Circuit breakers halt trading on the nation's stock markets during dramatic drops and are set at 7%, 13%, and 20% of the closing price for the previous day. The circuit breakers are calculated daily.

Level 1 halt (7%)

Trading will halt for 15 minutes if drop occurs before 3:25 p.m.

At or after 3:25 p.m.—trading shall continue, unless there is a Level 3 halt.

Level 2 halt (13%)

Trading will halt for 15 minutes if drop occurs before 3:25 p.m.

At or after 3:25 p.m.—trading shall continue, unless there is a Level 3 halt.

Level 3 halt (20%)

At any time during the trading day—trading shall halt for the remainder of the trading day.

Single stock price bands
The SEC implemented a new marketplace rule, known as the Limit Up-Limit Down Rule, designed to prevent trades from executing outside of price bands established throughout the day for individual stocks and exchange-traded funds (ETFs).

10-4

[atomheartbevo 89675]

1 hour ago, Wally Fairway said:

bump, cuz Monday looks to be an exciting ride

Like aggy football season condensed down to one day exciting ride?

[Wally Fairway 5550]

8 hours ago, Trey3216 said:

Gonna be horrific if there isn’t some calmer heads talking about the oil price war that looks about to happen.  

No idea how I quoted this, on mobile

 

DJIA, S&P 500, NASDAQ all heading toward -5% and failing

Oil in free fall, 10-year under 0.50%

Edited March 9, 2020 by Wally Fairway
.???

[Trey3216 15346]

1 minute ago, Wally Fairway said:

I'm thinking it opens higher, at least they is where futures open that way

There’s no way it opens higher.  It might open limit down 

[Reagan1k 3024]

Where do BP, XOM, Chevron. the XLE open tomorrow? 

[Rip76 4928]

CNBC reported Sunday evening that futures on the Dow Jones Industrial Average had dropped nearly 1,100 points, while the Nasdaq and S&P 500 also reportedly looked ready to open with losses on Monday.

[Trey3216 15346]

2 minutes ago, Reagan1k said:

Where do BP, XOM, Chevron. the XLE open tomorrow? 

Depths of hell

[TwiceHorn 31486]

Fuck man.

[Rip76 4928]

Sorry -1255 currently 

grief.

[Francisco 2.0 32395]

https://www.cnbc.com/2020/03/09/asia-markets-oil-prices-coronavirus-currencies-in-focus.html

 

Quote

Stocks in Asia saw steep declines on Monday morning as oil prices plungedamid fears of a price war after OPEC failed to strike a deal with its allies on production cuts, adding to market volatility already brought about by fears surrounding the ongoing coronavirus spread.

The Nikkei 225  in Japan fell 6.15% in morning trade, while the Topix was down 6.07%. The Japanese yen, often seen as a safe-haven currency, traded at 102.26 per dollar after seeing levels above 108 last week.

 

Quote

Hong Kong’s Hang Seng index plunged 3.96% in morning trade. Mainland Chinese stocks also saw declines, with the Shanghai composite down about 2% while the Shenzhen component shed more than 2%. The Shenzhen composite slipped 1.859%.

South Korea’s Kospi also dropped 4.27%. 

Meanwhile, stocks in Australia tanked, with the S&P/ASX 200 down 6%. Singapore Straits Times Index also fell more than 4%.

Overall, the MSCI Asia ex-Japan index fell 3.76%. 

 

Quote

The moves came as the yield on the benchmark 10-year U.S. Treasury note fell below 0.5%, last trading at 0.4826%. The 30-year Treasury yield also hit a record low, breaching the 1% threshold for the first time in history, last trading at 0.9633%. 

U.S. futures also saw sharp declines on Sunday night stateside. Futures on the Dow Jones Industrial Average plunged 1,255 points, pointed to an opening loss on Monday of about 1,300 points. S&P 500 futures and Nasdaq-100 futures also pointed to declines for the two indexes when they open on Monday.

 

 

 

[Blotto 23523]

So this guy was a couple of years older than me but pretty good friends with my sister and his younger brother was in my class. One of the smartest fuckers I have ever known......thankfully. Bet he and his team aren't getting a lot of days off currently.

https://www.federalreserve.gov/econres/andreas-lehnert.htm

[Message Board User 12395]

 

[Fudge Nuggets 19190]

Nikkei is down 6%.

[gsoda3 3262]

1 hour ago, UTGrad98 said:

So what that means is an overnight session can never trade below 5% of the previous day close ever ? Correct ?

yes that's right.  that said it's important to make a distinction between the SP futures and the actual SPY equity offering.  SPY can trade below 5% as soon as they open during the premarket session while, and i'm not 100% sure if this is true anymore but i believe it is, the futures are still halted at limit down for the duration of the overnight session which technically ends at 8:30am central. 

[tx 3 putt 76977]

WoW, just WOW 😯 

[bernorange 8362]

Gold is up.

USCcheerleader.gif

[tx 3 putt 76977]

So when’s the next interest rate cut ?

[Celery Man 20961]

I was feeling smart about selling a ton of xom earlier this year and then I remembered that I was holding a bunch of xom earlier this year

[gsoda3 3262]

56 minutes ago, tx 3 putt said:

So when’s the next interest rate cut ?

next wednesday

[ChiTownDoc 21154]

Gonna be a bloodbath.  JFC

[Wally Fairway 5550]

2 hours ago, tx 3 putt said:

So when’s the next interest rate cut ?

 

1 hour ago, gsoda3 said:

next wednesday

Next Wednesday is the scheduled meeting, I won't be surprised if there is a cut today.

Though with the 10 year at >0.50%, is the US going to flirt with negative rates?

Edited March 9, 2020 by Wally Fairway

[SizzleChest 8284]

FTSE down over 8%.

[Tailgate 3022]

I think I may need to just toss the laptop and the TV out the window for a year. Between the markets and Coronavirus I think I’m done with media and news.

Maybe I’ll just start watching every episode of Mister Rogers Neighborhood.

[RayDog 682]

3 hours ago, Wally Fairway said:

 

Next Wednesday is the scheduled meeting, I won't be surprised if there is a cut today.

Though with the 10 year at >0.50%, is the US going to flirt with negative rates?

There is no flirting. The US and Europe are going negative.