Markets still falling like whoa

[bluto 4943]

I was out a bit today and just about every parking lot for commercial strip malls and bars/restaurants seemed about average for a Saturday afternoon. Probably good for business, but not so good for slowing the spread of the virus. I think the government is going to have to eventually takes steps like you see France and Germany taking to keep people from mingling. fucking sucks. 

That’s where my mind is going with this too. An adult is gonna have to lay down the law on our dumb asses

[Okie State 3848]

I was out a bit today and just about every parking lot for commercial strip malls and bars/restaurants seemed about average for a Saturday afternoon. Probably good for business, but not so good for slowing the spread of the virus. I think the government is going to have to eventually takes steps like you see France and Germany taking to keep people from mingling. fucking sucks. 

This. My brother is ranting about how this is all a government power grab. Who the fuck else is going to enforce it? We sure as shit aren't on our own.

[gsoda3 3283]

Trump just talked about replacing the Fed chair because he wants negative interest rates.  Monday might be interesting.

Oh good because it's been so boring.

I'm of the belief Trump won't be able to replace him. It'll be an ugly slog through court if he tries. Would be interesting though to see what precedents are set.

[Thetexashammer 1062]

3 minutes ago, gsoda3 said:

Oh good because it's been so boring.

I'm of the belief Trump won't be able to replace him. It'll be an ugly slog through court if he tries. Would be interesting though to see what precedents are set.

Why would Trump have the legal authority to fire someone at an organization owned jointly by a bunch of banks? The Fed isn't a government agency, it's a private organization.

[gsoda3 3283]

Why would Trump have the legal authority to fire someone at an organization owned jointly by a bunch of banks? The Fed isn't a government agency, it's a private organization.

Oh he doesn't have the legal authority to do so. In fact it's quite explicit the president can't remove him at his pleasure. But there might be a small loophole if there's been dereliction of duty. We know Trump isn't scared to press a technicality

[bernorange 8367]

7 hours ago, gsoda3 said:

7 hours ago, Thetexashammer said:

Why would Trump have the legal authority to fire someone at an organization owned jointly by a bunch of banks? The Fed isn't a government agency, it's a private organization.

Oh he doesn't have the legal authority to do so....

He could get that authority depending upon how SCOTUS rules on the CFPB case (decision due this summer, so in a few months).  I posted a link a page back explaining the issue.

[gsoda3 3283]

He could get that authority depending upon how SCOTUS rules on the CFPB case (decision due this summer, so in a few months).  I posted a link a page back explaining the issue.

I missed your post on that. I have my views on that but I won't post them here.

[Parliament 14337]

The topic of "How do trading limits work?" was broached last week. So I googled and this is what I found. Please check my math on this, as it might be important tomorrow.

Ideally the no limit after 3:25 part won't be a factor ever.

[Anastasis 23492]

Trading notes on index cards. Interdasting. 

[Parliament 14337]

Not gonna type all that out.

[Aqua Buddha 14624]

American Airlines will temporarily ground most of its wide-body fleet as it cuts the vast majority of its international long-haul flying amid the rapidly growing novel coronavirus pandemic.

The temporary fleet change will see the Oneworld alliance carrier send roughly 135 wide-bodies to storage from March 16 through at least May 6, American said late Saturday. The airline flew 150 such aircraft, including Airbus A330 and Boeing 767, 777 and 787 models, at the end of December.

American previously unveiled plans to retire its 767 fleet by May, and its Boeing 757 fleet by mid-2021 in response to the COVID-19 pandemic.

The airline’s fleet reduction comes as it slashes international capacity by 75% from March 16 through May 6. The move will see American suspend nearly all of its long-haul routes operated by wide-body jets to Asia, Australia, Europe and South America.

American plans to operate three long-haul routes during the March-May period: Dallas/Fort Worth (DFW) to London Heathrow (LHR) and Tokyo Narita (NRT), and Miami (MIA) to London Heathrow.

[swraith 347]

^^

Makes me wonder if Boeing is going to need a government bailout to avoid bankruptcy.

[Captainant 27828]

2 minutes ago, swraith said:

^^

Makes me wonder if Boeing is going to need a government bailout to avoid bankruptcy.

Shit, they probably needed one before CV19. Between their pains with Starliner and the MAX, they're pretty precarious

[Wally Fairway 5589]

3 hours ago, Anastasis said:

Trading notes on index cards. Interdasting. 

 

3 hours ago, Parliament said:

Not gonna type all that out.

3 minutes to put this together 
Now all you'd have to do is put the prior days close into the box with 2,711 in it, and then you have it to start your day

[Steel Shank 9432]

*after

[Blotto 23584]

I commented on Friday that I thought it was interesting that Trumps presser was scheduled to start an hour before markets closed, because we all knew how much he fixates on the markets. Today they are holding another presser an hour before the futures markets open. Wonder if they are going to drop some more fed stimulus  bombs. Will it even matter? 

[gsoda3 3283]

Wonder if it's not the national lockdown announcement that's been rumored

[Lurch 5931]

What’s your prediction for tomorrow? I’d guess open strong +1-2% then fade into -1% by closing. Emotional wins in getting everyone on the same page re social distancing, but then recognition of what this will cost starts setting in.

 

[babysdaddy 2728]

Qe of 700b and rates cut to zero

[BLKNSTY 289]

Qe of 700b and rates cut to zero

ZERO


Sent from my iPhone using Tapatalk

[gsoda3 3283]

6 minutes ago, Lurch said:

What’s your prediction for tomorrow? I’d guess open strong +1-2% then fade into -1% by closing. Emotional wins in getting everyone on the same page re social distancing, but then recognition of what this will cost starts setting in.

 

don't know if you were asking me, but i have no idea.

[Trey3216 15375]

18 hours ago, Aqua Buddha said:

I had someone tell me that a Beef O'Brady's was packed and I said "That's a shitty choice for a last good meal."

I didn’t even realize that place was still in existence 

[Aqua Buddha 14624]

Just announced.  Fed goes to 0%.

[Captainant 27828]

Just now, Aqua Buddha said:

Just announced.  Fed goes to 0%.

How long until we go negative is the question

[Parliament 14337]

22 minutes ago, Lurch said:

What’s your prediction for tomorrow? I’d guess open strong +1-2% then fade into -1% by closing. Emotional wins in getting everyone on the same page re social distancing, but then recognition of what this will cost starts setting in.

 

Down 5% at the open and 8% (total) at the close.  Mondays for the DJIA have been...bad.

[Henry Hill 3156]

More thousand point swings are all but certain.

[Surly Bevo 25191]

8 minutes ago, Henry Hill said:

More thousand point swings are all but certain.

Yep a lot of irrational exuberance and depression going to rule for some time while this plays out

[Wally Fairway 5589]

As far as the market is goes, I think that there is a huge move up if the Saudis can to some agreement with Putin and production of OPEC (and friends) crude production was to be cut my the amount the Saudis said they were raising it or more.
I don't think that Vald and MbS are on good terms, but who knows about any of this crazy shit anymore.

[Blotto 23584]

And futures open up heading south, even with the rate cut. 

[Dbeasy 15095]

Down 15% tomorrow

[Trey3216 15375]

2 minutes ago, Dbeasy said:

Down 15% tomorrow

I wouldn’t doubt if we hit all 3 circuit breakers tomorrow 

[TexasGolf 5024]

1 hour ago, Lurch said:

What’s your prediction for tomorrow? 

 

Pain

[Anastasis 23492]

futures tried to bounce back, but back down. 

[Aqua Buddha 14624]

Markets are sensing the panic with government leaders.  A rate cut that big is basically throwing our last best option.

[APEX 63]

Stupid question but with interest rate at 0% then corporate bond fund (FBNDX) should go up correct?

[Wally Fairway 5589]

I've quit trying to guess what the market will do day-to-day, I'm convinced it will head lower - maybe tomorrow, but almost certainly over the next few weeks.
There are some things that could reverse this course - oil prices (as I mentioned above), new CV-19 testing that is faster and widely available, warm weather; but overall the impact hasn't really hit the healthcare system (hospitals), and there is nothing stopping another black swan (natural disaster, for instance) from coming to visit this swan.

I really can't see anyway that a white dove appears to scare away this market.

[Anastasis 23492]

3 minutes ago, Wally Fairway said:

I've quit trying to guess what the market will do day-to-day, I'm convinced it will head lower - maybe tomorrow, but almost certainly over the next few weeks.
There are some things that could reverse this course - oil prices (as I mentioned above), new CV-19 testing that is faster and widely available, warm weather; but overall the impact hasn't really hit the healthcare system (hospitals), and there is nothing stopping another black swan (natural disaster, for instance) from coming to visit this swan.

I really can't see anyway that a white dove appears to scare away this market.

We should be applying every ounce of pressure we can on SA to generate some positive news. 

[Message Board User 12396]

 

[Anastasis 23492]

futures hit the 5% backstop in like 10 minutes. gonna be blood tomorrow. 

[TexasGolf 5024]

15k will be buying 

[Texas St. Armadillos 1381]

Dumb question probably, but why wouldn't they halt trading on the NYSE and Nasdaq? Maybe a better question is when would they halt (for multiple days) not just a session?

[Steel Shank 9432]

Illinois governor closing down restaurants and bars starting tomorrow until end of the month. According to sister-in-law.

[TonyTexas 10534]

41 minutes ago, Anastasis said:

We should be applying every ounce of pressure we can on SA to generate some positive news. 

To many, lower oil prices is positive news. 

[ChiTownDoc 21175]

21 hours ago, Bozo_Casanova said:

Restaurant traffic seems normal in Austin tonight, but it’s got a last hurrah feel.

Turns out it really was the last hurrah in Chicago.  This is gonna cripple the market.  They need to shut it down 2 weeks.  No reporting earnings etc.  

[ChiTownDoc 21175]

37 minutes ago, Anastasis said:

futures hit the 5% backstop in like 10 minutes. gonna be blood tomorrow. 

No CR but all the shit we felt great about after the talk on Friday was a bunch of BS.  Google is like we are doing what??

[TonyTexas 10534]

1 minute ago, ChiTownDoc said:

Turns out it really was the last hurrah in Chicago.  This is gonna cripple the market.  They need to shut it down 2 weeks.  No reporting earnings etc.  

That’s all fine and good if you’ve gotten out. Not so much if you want to. 

[ChiTownDoc 21175]

31 minutes ago, TexasGolf said:

15k will be buying 

I’m sitting in cash until S&P 2000.  I’d be surprised if we don’t get there.  They need drastic measures.  These are drastic fucking times.  

[Blotto 23584]

Just now, ChiTownDoc said:

I’m sitting in cash until S&P 2000.  I’d be surprised if we don’t get there.  They need drastic measures.  These are drastic fucking times.  

Yeah S&P 2000 is likely when I would consider getting back in. Every press conference to date is an obsequious dick sucking contest, indicating that this administration is more concerned about the election than they are fixing the problem at hand. Once they start leveling with the general public and mandating behavior that stops St Paddy's day parties, etc...I'll start to believe that they are serious about addressing the crisis at hand. Until then, I'll keep my short position (through puts) on the market. The real pain hasn't even hit this country yet. 

[Beau Vine 54466]

1 hour ago, Trey3216 said:

I wouldn’t doubt if we hit all 3 circuit breakers tomorrow 

I wouldn't either.  It's why I bailed on Friday.  That last hour was complete fool's gold.

[Aqua Buddha 14624]

3 minutes ago, Beau Vine said:

I wouldn't either.  It's why I bailed on Friday.  That last hour was complete fool's gold.

I didn't even notice it.  While they were sucking each other's cocks, I was too busy trying to move heaven and earth trying to feed the country.