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Markets still falling like whoa

Llano Estacado

By Llano Estacado
in Business and Markets

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Incredulity

Incredulity 11682

Posted
Posted
1 minute ago, Captainant said:

I agree completely with that statement. I'm saying that maybe these businesses would be in better shape if they had paid debts and reinvested the 1.5 trillion dollar tax cut (and other financial windfalls) into the business instead of buying back shares to increase shareholder profits.

You're missing the point if you think I'm criticizing the lack of planning for this specific scenario. I'm saying the fact that we're in this place of multiple national security-critical industries needing bailouts for as much as they got in tax breaks last year, is a pretty clear indicator that our corporate sector has not been good stewards of their finances.

And for some reason, we don't hold corporations to the same standards of personal responsibility that we do for workers.

 

5 minutes ago, Wally Fairway said:

While the last several years have been a boom to stock market investors, this crisis was not triggered by a bubble rather by a pandemic; but don't let that ruin your narrative

Fucking this. 

 

The holier than thou, "great corporate satan" trope is fucking lame.

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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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Captainant

Captainant 27727

Posted
Posted
3 minutes ago, Incredulity said:

Fucking this. 

The holier than thou, "great corporate satan" trope is fucking lame.

I'm just saying, if your buddy came into a huge windfall of cash and blew all of immediately on strippers and blow and partying, would you be very sympathetic to him when he comes to you asking for a handout? You wouldn't say he should have saved some of it for a rainy day, and would just give him as much as he said he needed?

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Wally Fairway

Wally Fairway 5575

Posted
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4 minutes ago, Anastasis said:

At what point do we become worried about a run on banks?

Yesterday???
I'm gonna think that the trigger is when the CDC, or a state agency, says that all ATM's will be turned off because community use of that device presents a high risk of transmission. And just like toilet paper and hand sanitizer the lemmings will have found their next target

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Dnaguy

Dnaguy 12046

Posted
Posted

I wonder if there’s anyone out there alternating between $SQQQ and $TQQQ ... buying each when they’re low and selling the next day and buying the other.

Looking at this week, I mean, you could be making 15-30% everyday. 
I don’t say trade and only have an ira through vanguard to play with.

But if you had the stones and figure this yo-yo is going to continue, you could make tons of $ on this buy one day, sell the other.

What am I missing.

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Parliament

Parliament 14286

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Posted

And we just hit the Level 1 limit.  Go outside and smoke a dart, Guys.  We'll try again in 15 minutes.

So far through all of this, the Level 1 has worked.  Markets bounced at least a little bit off of that.  I think that'll happen here, as it just trickled down to the limit today.  It'll restart and be very boring until the close.

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Captainant

Captainant 27727

Posted
Posted
Just now, Parliament said:

And we just hit the Level 1 limit.  Go outside and smoke a dart, Guys.  We'll try again in 15 minutes.

So far through all of this, the Level 1 has worked.  Markets bounced at least a little bit off of that.  I think that'll happen here, as it just trickled down to the limit today.  It'll restart and be very boring until the close.

I mean, it's stopped/slowed the bleeding each day. But we have been hitting limits pretty consistently over the last week. Over the medium-long term we've got a looooooong way to go until we bottom out. Lots of inflated stock values from buybacks that will be coming back to reality.

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UTexasFight

UTexasFight 9523

Posted
Posted
Surly stock experts:
 
What is the dynamic that is behind alternating up and down days over the couple weeks?
 
Given the news wouldn't continuous down make more logical sense?   or  if "short squeeze" dynamics, ups and downs intraday.
 
 

Cats have 9 lives
Dead cats have 9 bounces?
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RollLeft

RollLeft 5045

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Posted

At this point I wonder what would stabilize the markets faster, reversing strategy from social distancing and sending everyone to work or continuing our current path.  Imo, i think we get enough of an indicator regarding a bottom for a projection of mortality medically over the next 7 days but at what cost to the markets?  Shitty options all around.

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Captainant

Captainant 27727

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5 minutes ago, RollLeft said:

At this point I wonder what would stabilize the markets faster, reversing strategy from social distancing and sending everyone to work or continuing our current path.  Imo, i think we get enough of an indicator regarding a bottom for a projection of mortality medically over the next 7 days but at what cost to the markets?  Shitty options all around.

Next week is going to continue to be a bloodbath. Yall should be buying a bunch of PUTs that execute in the summer, when we'll be at max-pain according to the CDC and epidemiologists. My GE $4 June puts have been a nice silver lining to this whole shitshow

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Captainant

Captainant 27727

Posted
Posted
Just now, Harrison Stafford said:

I can’t think of a reason why we won’t test the DJIA March 2009 low of 6469.95.  Just hope it doesn’t happen today.

Well, we (probably) can't test that in a single day thanks to the circuit breakers. More than a 20% fall in a single day closes the markets, unless we somehow fall off a cliff in the last 30 mins of a trading day

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ChiTownDoc

ChiTownDoc 21154

Posted
Posted
1 hour ago, Anastasis said:

At what point do we become worried about a run on banks?

The banks are worried.  There’s several articles on ‘don’t pull your money out’ and I tried to pull 10k which is usually no big deal - more as a test...don’t need cash. They said they could do 5k.  Chase.  I said I’m good...just wanted to see their line of thinking.   

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52-80

52-80 19230

Posted
Posted
1 hour ago, Trey3216 said:

Fatigue?  I've been beyond fatigue for weeks.  This is starting to become real life altering levels of stress an concern.  I've had to shorten my working/attention hours to about 4-5 per day so I don't overload.  

obviously these weeks are hugely anomalous in the big scale of things.  but projecting it down to 'normal' times, it still seems wild to work a day job where your livelihood is contingent on the speed of information

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Anastasis

Anastasis 23481

Posted
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25 minutes ago, ChiTownDoc said:

The banks are worried.  There’s several articles on ‘don’t pull your money out’ and I tried to pull 10k which is usually no big deal - more as a test...don’t need cash. They said they could do 5k.  Chase.  I said I’m good...just wanted to see their line of thinking.   

I tried to pull 5k yesterday from Frost.  They limited me to 2500. Told me that was their drive through window limit.  

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hornbri

hornbri 1401

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46 minutes ago, Harrison Stafford said:

I can’t think of a reason why we won’t test the DJIA March 2009 low of 6469.95.  Just hope it doesn’t happen today.

I don't know - at this point there is not a lot more negative news left to come. We have shut most things down across the country and everyone is expecting to stay home for weeks. I think the market might be near the bottom now. If we get some good news from congress and we start making some medical progress I can see us stabilizing and starting to turn around in a few weeks. 

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Wally Fairway

Wally Fairway 5575

Posted
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6 minutes ago, stone oak said:

@Wally Fairway are you thinking another dead cat bounce tmr? Should I wait to buy more SPY puts until then or pull the trigger now?

I really don't like to give advice, because I'm just guessing and using my gut - however I am still buy puts, longer and deeper, because none of this feels like there is a solution or an end of the shutdowns that is in sight.

As far as now or later - I never try to buy at the bottom nor sell at the top, there is plenty of money to be made along the way, if you are right about what you think is going to happen. As an example I was mad that I bought some puts last Friday before the market took off during the Prez presser, but I'm happy that I bought them because they've made me money since - sure if I'd have bought them at a better price I'd make more, but if I didn't get in before the close then I'm completely out.
Wallys Wisdom journal
(quote me when I'm right, and laugh at me when I'm wrong)

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stone oak

stone oak 639

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Just now, Wally Fairway said:

I really don't like to give advice, because I'm just guessing and using my gut - however I am still buy puts, longer and deeper, because none of this feels like there is a solution or an end of the shutdowns that is in sight.

As far as now or later - I never try to buy at the bottom nor sell at the top, there is plenty of money to be made along the way, if you are right about what you think is going to happen. As an example I was mad that I bought some puts last Friday before the market took off during the Prez presser, but I'm happy that I bought them because they've made me money since - sure if I'd have bought them at a better price I'd make more, but if I didn't get in before the close then I'm completely out.
Wallys Wisdom journal
(quote me when I'm right, and laugh at me when I'm wrong)

Thank you sir.

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Wally Fairway

Wally Fairway 5575

Posted
Posted

Also, as long as I'm not giving any advice, I try to never hold options to expiration - unanticipated events can happen that can destroy the value in those items, so I try to close them out a day or so before. That being said I did sell some puts that were expiring today which is high risk, because in the money options are subject to your broker taking actions if you cannot cover them in your account. And while we are at it do not advocate naked options, because the risks are even greater - all that being said, I can only cover my SPY options that expire through 3-31, but I anticipate selling those before we get to that date.
I do believe in taking risks, but not unmitigated idiotic unfettered risks.
Good luck and happy hunting

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