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Markets still falling like whoa

Llano Estacado

By Llano Estacado
in Business and Markets

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Eastwood
Eastwood

That's why I'm out. There is no end game, IMO. This has to be fixed outside of the market and I got too nervous about what that entails for retail investors. They will always be last on the list, if o

Rusty Shackelford
Rusty Shackelford
Eastwood
Eastwood

I'm not a financial advisor. This is not financial advise. I don't work in finance. I do not have a degree in finance. Actually, I have a BA and I'm bad at math past Cal I. I won't apologize for the l

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bernorange

bernorange 8362

Posted
Posted

I'm guessing a lot of you peeps don't really pay attention to the Fed and the ongoing repo operations, but they are signalling a dumpster fire in the US banking system.  The Fed had announced plans to reduce (taper down) the operations.  They have had to reverse course on that and are now increasing them.  Dealers are oversubscribing the bids big time over the last few days.

Also UAE is joining the oil glut free for all (ramping up production).

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Wally Fairway

Wally Fairway 5550

Posted
Posted
4 minutes ago, Goofyboy said:


I’m calling 15,500 and 2k for the S&P.

I don't disagree - I may or may not invest in SPY puts/calls and the lowest listed option (for 6-30 and 9-30, I haven't really looked longer) is a $199 strike price. And it seems to headed straight at those levels and beyond

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achooloco

achooloco 1072

Posted
Posted
7 minutes ago, Trey3216 said:

It’s for the S&P, not DJIA

Ah, thanks. I have no skin in the game right now but my buddy does it professionally and throws random tips here and there. However, I am trying to see where I can get some liquidity and planning on jumping in once we hit peak virus, so .. late April? Dunno. 

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workswithseed

workswithseed 2109

Posted
Posted
28 minutes ago, bernorange said:

.

Also UAE is joining the oil glut free for all (ramping up production).

I like cheap gas.

 

14 minutes ago, Loco said:

in unrelated, related financial news

 

Well since Travel will be way down for most of the year, I think Corona Virus has been the best for the environment.

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Wally Fairway

Wally Fairway 5550

Posted
Posted

I am impressed by the effectiveness of the circuit breaker - at the open the market raced to level 1, then after the break it seems to have found a "normal" trading level for the day; I really expected that the first trigger would increase the velocity of the fall towards the 2nd circuit breaker.

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workswithseed

workswithseed 2109

Posted
Posted (edited)
1 hour ago, Wally Fairway said:

I am impressed by the effectiveness of the circuit breaker - at the open the market raced to level 1, then after the break it seems to have found a "normal" trading level for the day; I really expected that the first trigger would increase the velocity of the fall towards the 2nd circuit breaker.

I am too, who thought of this system?I really want to tell them that they did a great job.

Edited by workswithseed
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Wally Fairway

Wally Fairway 5550

Posted
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3 minutes ago, 936horn said:

Fed repo

 

https://www.marketwatch.com/story/fed-ramps-up-repo-operations-to-address-disruptions-in-treasury-market-2020-03-12?mod=options

thanks - looks like the market is going to digest that and keep on moving with the downward momentum...at least until something related to the virus or economic downturn happens - the Fed is just propping up the banks (right?)

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936horn

936horn 910

Posted
Posted
Just now, Wally Fairway said:

thanks - looks like the market is going to digest that and keep on moving with the downward momentum...at least until something related to the virus or economic downturn happens - the Fed is just propping up the banks (right?)

Yes, but if they do cut to 0% as Fozz linked above, puts are gonna get smashed, especially close dated ones. I just unloaded most of my 3/20 SPYp right as the repo was announced.

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Wally Fairway

Wally Fairway 5550

Posted
Posted
3 minutes ago, 936horn said:

Yes, but if they do cut to 0% as Fozz linked above, puts are gonna get smashed, especially close dated ones. I just unloaded most of my 3/20 SPYp right as the repo was announced.

Yeah, I learned a lesson when I had close dated puts and the Fed did their Monday morning surprise cut, so I've unloaded some today and most of mine are now April or later expiry.
I hate theta especially when it wins by KO

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Loco

Loco 3752

Posted
Posted
Just now, Blotto said:

Market already given back 2/3 of the gains achieved after the fed move. This is going to continue until people have reason to believe things are under control. 

No shit, it's not a monetary supply issue!    This is how we make monetary policy now.  SMH

 

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Nice Guy Eddie

Nice Guy Eddie 13512

Posted
Posted
10 minutes ago, Loco said:

No shit, it's not a monetary supply issue!    This is how we make monetary policy now.  SMH

 

It was a little sad listening to Cramer call for intervention to protect the S&P 500. Even he admitted that perhaps irrational exuberance can be partially to blame, but that we needed to protect investors in order to save the little man (non-investors.)  Very reminiscence of 2008-09.

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Nice Guy Eddie

Nice Guy Eddie 13512

Posted
Posted (edited)
4 minutes ago, woohorn said:

I figure the worst and I want to get out pf equity funds until after eoy.

In a mutual find enviroment,what are y'all waiting it out in? Bonds? I would be happy sitting in cash, but my guy is trying to push bond funds...

I put a fair amount in treasury notes funds a couple of weeks ago. actually up a decent amount in that time.  I'm thinking of moving back slowly into equities starting today. Perhaps 5% per week so I don't have to worry about timing the re-entry.

Edited by Nice Guy Eddie
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Blotto

Blotto 23516

Posted
Posted
3 minutes ago, Nice Guy Eddie said:

It was a little sad listening to Cramer call for intervention to protect the S&P 500. Even he admitted that perhaps irrational exuberance can be partially to blame, but that we needed to protect investors in order to save the little man (non-investors.)  Very reminiscence of 2008-09.

Not a comment on his particular viewpoint this morning, but Cramer is a hack and usually full of shit. 

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