Markets still falling like whoa

[Wally Fairway 5559]

34 minutes ago, ChiTownDoc said:

Hilarious I’m waiting for a big drop w puts and cash on sidelines.  Feels so ass backwards.  
 

What is this balanced portfolio that I hear people talking about?

Asking for a friend whose allocation looks like this
Cash - 24%
Long equity - 49%
Short equity - 27%

and that short equity is puts that at today's closing price have an notional value of 4.5x the total portfolio value
the position was less leveraged at the start of the day, but my friend couldn't resist buying into todays closing rise in prices
and most of that equity is to cover a portion of the puts, so if I end up in the hospital the broker can exercise the options as they mature in the money until 3-31

How do I tell my someone that in addition to have to clear my browser history that they also should close out my option positions...is the a medic-alert bracelet for that???

Edited March 19, 2020 by Wally Fairway

[ChiTownDoc 21154]

12 minutes ago, Wally Fairway said:

What is this balanced portfolio that I hear people talking about?

Asking for a friend whose allocation looks like this
Cash - 24%
Long equity - 49%
Short equity - 27%

and that short equity is puts that at today's closing price have an notional value of 4.5x the total portfolio value
the position was less leveraged at the start of the day, but my friend couldn't resist buying into todays closing rise in prices
and most of that equity is to cover a portion of the puts, so if I end up in the hospital the broker can exercise the options as they mature in the money until 3-31

How do I tell my someone that in addition to have to clear my browser history that they also should close out my option positions...is the a medic-alert bracelet for that???

Hahaha, I'm addicted too, need about a 1000 point drop from the +500 we were earlier to clear another pile of cash. I don't see how that doesn't happen at some point tomorrow.  #STONKS

[Parliament 14260]

Today was very boring.  yawn

[Incredulity 11675]

1 minute ago, ChiTownDoc said:

Hahaha, I'm addicted too, need about a 1000 point drop from the +500 we were earlier to clear another pile of cash. I don't see how that doesn't happen at some point tomorrow.  #STONKS

Take it to the Stonks thread.

This thread is soley for buy and hold longs and extreme bears.

[Incredulity 11675]

Also some bailout and fiat money tinfoil hat shit.

[52-80 19162]

3 minutes ago, Incredulity said:

Take it to the Stonks thread.

This thread is soley for buy and hold longs and extreme bears.

I'm gambling on a drop tomorrow.  #yolo

[ChiTownDoc 21154]

4 minutes ago, Incredulity said:

Take it to the Stonks thread.

This thread is soley for buy and hold longs and extreme bears.

Extreme Bears thread is awesome.  Don't boot me, please. 

[Loco 3752]

Pro Tip:  Don't google "extreme bears"

[52-80 19162]

There hasn't been 2 consecutive green days since, like, many days

[ChiTownDoc 21154]

Grounding all domestic flights being discussed.  That's the next huge drop.  Then the ICU beds running out.  Both are less than 2 weeks imo. 

Edit:  state dept said don't travel abroad.  at all.  Extreme Bear is gruntled. 

Edited March 19, 2020 by ChiTownDoc

[stone oak 639]

[Trey3216 15347]

22 minutes ago, ChiTownDoc said:

Grounding all domestic flights being discussed.  That's the next huge drop.  Then the ICU beds running out.  Both are less than 2 weeks imo. 

Edit:  state dept said don't travel abroad.  at all.  Extreme Bear is gruntled. 

I know for a fact that National Guard is on full alert.  Friday afternoon news dump and week long market holiday next week could be fun 

[Harrison Stafford 3335]

2 hours ago, LTtxfan said:

What are the rules on how long you can hold a 3X Bear Shares ETF like  SOXS ??

The longest period of time I've held a position in SOXS is 48 hours. You don't want to hold the stock for long periods of time because the price resets every day and the movement is 3x  the movement of the 25 largest US-listed semiconductor companies.  For example, you buy SOXS and hold it for 30 days.  At the end of that time period, the stocks in the ETF may have dropped 30%, but you're at break even because the stock resets every day.  Also, at issue, is getting trapped in the stock overnight with the market running the wrong way the next day and getting your face ripped off. Tuesday, I bought SOXS at $27.50 and sold the next day at $35.50.   I bought today at $28.39 because I think the market will drop enough tomorrow to get the price to, at least, $33 and, hopefully, $35-$36 when I'll sell.  AH it's $30.60 which bodes well for tomorrow.  Everytime SOXS dips into the 20's, I'll buy the stock, wait for a nice bump and sell.  Rinse and repeat. I believe this market is going a LOT lower and I think SOXS will go to 50 over the next few months and will adjust accordingly.  The goal is to trade the snot out of it and bank some serious coin.

 

 

Edited March 19, 2020 by Harrison Stafford

[Wally Fairway 5559]

for Parliament, and all you other bears

[bluto 4932]

for Parliament, and all you other bears

He’s more of a twink than a bear

[atomheartbevo 89727]

https://www.propublica.org/article/senator-dumped-up-to-1-6-million-of-stock-after-reassuring-public-about-coronavirus-preparednessIntelligence

Quote

Soon after he offered public assurances that the government was ready to battle the coronavirus, the powerful chairman of the Senate Intelligence Committee, Richard Burr, sold off a significant percentage of his stocks, unloading between $582,029 and $1.56 million of his holdings on Feb. 13 in 29 separate transactions.

.....His committee was receiving daily coronavirus briefings around this time, according to a Reuters story.

Quote

A week after Burr’s sales, the stock market began a sharp decline and has lost about 30% since.

On Thursday, Burr came under fire after NPR obtained a secret recording from Feb. 27, in which the lawmaker gave a VIP group at an exclusive social club a much more dire preview of the economic impact of the coronavirus than what he had told the public.

 

Quote

“Senator Burr filed a financial disclosure form for personal transactions made several weeks before the U.S. and financial markets showed signs of volatility due to the growing coronavirus outbreak,” his spokesperson said. “As the situation continues to evolve daily, he has been deeply concerned by the steep and sudden toll this pandemic is taking on our economy.”

 

Edited March 19, 2020 by atomheartbevo

[Incredulity 11675]

9 minutes ago, atomheartbevo said:

https://www.propublica.org/article/senator-dumped-up-to-1-6-million-of-stock-after-reassuring-public-about-coronavirus-preparednessIntelligence

 

 

Reprehensible, hopefully it changes rules regarded congressmen and senators being able to trade on non-public information.

 

https://www.cbsnews.com/video/confronting-pelosi-on-insider-trading/

[atomheartbevo 89727]

7 minutes ago, Incredulity said:

Reprehensible, hopefully it changes rules regarded congressmen and senators being able to trade on non-public information

https://www.cbsnews.com/video/confronting-pelosi-on-insider-trading/

There’s no way he was the only one.   I bet a shitload, both in the public sector, and the private, were selling off around that time frame.  

[Anastasis 23475]

4 minutes ago, atomheartbevo said:

There’s no way he was the only one.   I bet a shitload, both in the public sector, and the private, were selling off around that time frame.  

Shit, the writing was on the wall.  It's on this thread. People were getting pretty skittish week before the fall. 

[Trey3216 15347]

13 minutes ago, Incredulity said:

Reprehensible, hopefully it changes rules regarded congressmen and senators being able to trade on non-public information.

 

https://www.cbsnews.com/video/confronting-pelosi-on-insider-trading/

[Incredulity 11675]

7 minutes ago, Trey3216 said:

A man can dream.

[Trey3216 15347]

3 minutes ago, Incredulity said:

A man can dream.

I hear ya, but it’s so ingrained in Washington that itll never go away.  

[Incredulity 11675]

3 minutes ago, Trey3216 said:

I hear ya, but it’s so ingrained in Washington that itll never go away.  

It is literally how they all get initially wealthy.  Of course books, consulting, running a “foundation”, boards... follow 

[Lurch 5931]

A financial advisory firm of a relative has a hedge in place to protect downside movement of the market when it is greater than a 20% drop. I think they said they are buying out of the money puts?

I asked them to send me details on how the hedge is constructed and how it starts working only after 20% down. Anyone have any idea?

If I wanted to hedge, is the simplest way just to buy out of the money puts on the S&P 500? I understand options but have never actually traded them except for some long term calls I’ve bought in the past.

Bump. Feb 13 post same day as Burr trades

[UTexasFight 9497]

Yep.

Beat me to it.

 

 

I remember Congress was getting “serious” about restricting insider trading a few years ago (or hell, might have been after 2008/2009 at this point), but never came close for coming up for a vote

 

 

Edit: this is what I was thinking of.

It was 2011/2012. the aftermath from this story

 

https://www.theatlantic.com/politics/archive/2011/11/hustle-defuse-60-minutes-congressional-insider-trading-story/335497/

[Dbeasy 15068]

Bump. Feb 13 post same day as Burr trades

Side note to that. I did finally figure out how to do some simple hedges, tripled my money on the hedges, but because I was just messing around with small amounts of money, I’m down enormously on my portfolio overall.

[Trey3216 15347]

10 minutes ago, UTexasFight said:

Yep.

Beat me to it.

 

 

I remember Congress was getting “serious” about restricting insider trading a few years ago (or hell, might have been after 2008/2009 at this point), but never came close for coming up for a vote

 

 

Edit: this is what I was thinking of.

It was 2011/2012. the aftermath from this story

 

https://www.theatlantic.com/politics/archive/2011/11/hustle-defuse-60-minutes-congressional-insider-trading-story/335497/

Member when Barney Frank made sure to help bail out his former lover/Fannie Mae CEO with a nice $20+mm parachute back in ‘08?  
 

it’ll be never end.  There’s countless stories of congressional, “legal” grift.  It’s sick.  

Edited March 20, 2020 by Trey3216

[LTtxfan 49249]

3 hours ago, Harrison Stafford said:

The longest period of time I've held a position in SOXS is 48 hours. You don't want to hold the stock for long periods of time because the price resets every day and the movement is 3x  the movement of the 25 largest US-listed semiconductor companies.  For example, you buy SOXS and hold it for 30 days.  At the end of that time period, the stocks in the ETF may have dropped 30%, but you're at break even because the stock resets every day.  Also, at issue, is getting trapped in the stock overnight with the market running the wrong way the next day and getting your face ripped off. Tuesday, I bought SOXS at $27.50 and sold the next day at $35.50.   I bought today at $28.39 because I think the market will drop enough tomorrow to get the price to, at least, $33 and, hopefully, $35-$36 when I'll sell.  AH it's $30.60 which bodes well for tomorrow.  Everytime SOXS dips into the 20's, I'll buy the stock, wait for a nice bump and sell.  Rinse and repeat. I believe this market is going a LOT lower and I think SOXS will go to 50 over the next few months and will adjust accordingly.  The goal is to trade the snot out of it and bank some serious coin.

 

 

Thanks for detail... knew the 3x Bear Etfs were tricky, and forgot about their daily reset!!

[atomheartbevo 89727]

1 hour ago, Anastasis said:

Shit, the writing was on the wall.  It's on this thread. People were getting pretty skittish week before the fall. 

Yeah. Burr also had a smaller sell on January 31st.  They estimate the stocks he sold lost 39% in value.    His story will be lost in the shuffle in a few hours, but at least somebody noticed it.  

[gsoda3 3263]

I know for a fact that National Guard is on full alert.  Friday afternoon news dump and week long market holiday next week could be fun 

There's no week long market holiday.

[Trey3216 15347]

2 minutes ago, gsoda3 said:

4 hours ago, Trey3216 said:

I know for a fact that National Guard is on full alert.  Friday afternoon news dump and week long market holiday next week could be fun 

There's no week long market holiday.

I hear ya, but they’re not gonna keep the markets open all week if we have a national stay in 

[Incredulity 11675]

2 minutes ago, Trey3216 said:

I hear ya, but they’re not gonna keep the markets open all week if we have a national stay in 

California stay in

thats more than 10%

[gsoda3 3263]

I hear ya, but they’re not gonna keep the markets open all week if we have a national stay in 

You don't think? New York has their SIP order but they're going to switch to all electronic on Monday. I think they just keep going with that.

TBH I wouldn't mind a week long holiday. It's been so crazy I could use the break.

[SimonBolivar 10958]

4 hours ago, Trey3216 said:

I know for a fact that National Guard is on full alert.  Friday afternoon news dump and week long market holiday next week could be fun 

Can it be a weeklong banking holiday too please? Thanks.

[Trey3216 15347]

2 minutes ago, gsoda3 said:

You don't think? New York has their SIP order but they're going to switch to all electronic on Monday. I think they just keep going with that.

TBH I wouldn't mind a week long holiday. It's been so crazy I could use the break.

I honestly don’t think we’d be able to effectively control a nationwide lockdown without shutting the markets down as well.  It’d still be horrific the next Monday, limit/limit/limit down, but having it open the whole week when no one has anything to do but think about it would probably pull us to flirting with 03/10/09 lows. 

[Trey3216 15347]

2 minutes ago, SimonBolivar said:

Can it be a weeklong banking holiday too please? Thanks.

If it’s a shut in, you ain’t working either, breh 

[jimmyjazz 45976]

2 hours ago, Anastasis said:

Shit, the writing was on the wall.  It's on this thread. People were getting pretty skittish week before the fall. 

It matters not that one trades on information largely known to the public.  What matters is if they possess any material information NOT known by the public.

(In theory.)

[Schulz2.0 28960]

2 hours ago, Incredulity said:

Reprehensible, hopefully it changes rules regarded congressmen and senators being able to trade on non-public information.

 

https://www.cbsnews.com/video/confronting-pelosi-on-insider-trading/

Senator Kelly Loeffler did the same. She was also in that meeting. Her husband just happens to be the Chairman of the NYSE.

https://www.foxnews.com/politics/kelly-loeffler-coronavirus-stock

[Smax 3800]

i cant be the only one who wishes sushi was still around 

[Trey3216 15347]

12 minutes ago, jimmyjazz said:

It matters not that one trades on information largely known to the public.  What matters is if they possess any material information NOT known by the public.

(In theory.)

Unless you’re a US Congressperson, and those laws don’t apply to you (in ‘theory’) 

[aggie08 21505]

I fucking hate defending politicians, but I'm not going to sit here and pretend that I would eat a million dollars of loss with no hesitation because "it's the right thing to do" when I'm privileged with inside information that I'm not allowed to share. Until penalties are actually enforced, this is inevitable. 

[Telegraph_it 3357]

Those dumbasses should have bought vix options. 

[Anastasis 23475]

32 minutes ago, Telegraph_it said:

Those dumbasses should have bought vix options. 

A big option stake might be an even bigger red flag.  There would be plenty of ways to hedge out downside risk without raising red flags, but it would need to be done against the background of a pattern of trades.  Doesn't see like it would be particularly hard to mask.  I think that they just don't give a fuck because they know that there will be no accountability. 

[victory88 5669]

Get ready for another big drop tomorrow.  California shutting down and I bet NY is next.  

[atomheartbevo 89727]

54 minutes ago, aggie08 said:

I fucking hate defending politicians, but I'm not going to sit here and pretend that I would eat a million dollars of loss with no hesitation because "it's the right thing to do" when I'm privileged with inside information that I'm not allowed to share. Until penalties are actually enforced, this is inevitable. 

There are people who have lost their livelihoods as a result of this, businesses that may not recover, even with bailout money.   People who are going to need those payments being dangled, that we talk about stashing away in savings or buying games, or whatever.  

And here you have somebody with insider information on the stock market benefiting from it.   And not only did he benefit, but he was sharing this info with his close buddies and donors.

It’s pretty bad when Tucker Carlson is calling you out

 

[atomheartbevo 89727]

Hotel stocks, lol.  No wonder he bailed.  

[The People’s Elbow 707]

21 minutes ago, atomheartbevo said:

There are people who have lost their livelihoods as a result of this, businesses that may not recover, even with bailout money.   People who are going to need those payments being dangled, that we talk about stashing away in savings or buying games, or whatever.  

And here you have somebody with insider information on the stock market benefiting from it.   And not only did he benefit, but he was sharing this info with his close buddies and donors.

It’s pretty bad when Tucker Carlson is calling you out

 

It feels weird to agree with Tucker Carlson.

 

7 hours ago, ChiTownDoc said:

Hahaha, I'm addicted too, need about a 1000 point drop from the +500 we were earlier to clear another pile of cash. I don't see how that doesn't happen at some point tomorrow.  #STONKS

I hate to say it, man, but that’s not how I’m not tomorrow play out. I think NY and California closing down are already priced in, and unless something bizarre and unforeseen occurs, I actually think tomorrow’s market will be relatively boring. 

[atomheartbevo 89727]

1 hour ago, Schulz2.0 said:

Senator Kelly Loeffler did the same. She was also in that meeting. Her husband just happens to be the Chairman of the NYSE.

https://www.foxnews.com/politics/kelly-loeffler-coronavirus-stock

This could become the bigger story.   Chairman of the NYSE is kind of a Big Deal.  
 

Quote

The Daily Beast reported on Thursday that Loeffler sold stock that was owned by her and her husband and January 24, which was the same day she sat in on a closed-door coronavirus briefing as a member of the Senate Health Committee with the Trump administration, which Dr. Anthonly Fauci was in attendance.

“

Quote

The report also claims that Loeffler and her husband sold jointly owned stock worth between $1,275,000 and $3,100,000 during the January 24 and February 14 timespan, according to filed transactions.

Her husband, Jeffrey Sprecher, is the chairman of the New York Stock Exchange.

Sen. Loeffler's office did not immediately respond to Fox News' request for comment.

 

Edited March 20, 2020 by atomheartbevo

[atomheartbevo 89727]

Not limited to those two or parties, people are looking into Congressional stock trades around the time of the coronavirus briefings

Quote

According to stock sales disclosures by Senators after a closed door briefing on January 24 about the Coronavirus threat, the following senators sold stocks:

• Senator Richard Burr
• Senator Kelly Loefner
• Senator Dianne Feinstein,
• Senator Ron Johnson
• Senator Jim Inhofe

 

Edited March 20, 2020 by atomheartbevo

[BrazilHorn 6612]

20 minutes ago, atomheartbevo said:

Not limited to those two or parties, people are looking into Congressional stock trades around the time of the coronavirus briefings

 

This is why the avg portfolio performance for a Senator is better than best hedge fund manager on Wall St. In this case it is too big a drop to hide. Fuck them in the goat ass