Markets still falling like whoa

[Fudge Nuggets 19,206]

33 minutes ago, Skipper said:

The only thing that is making me consider establishing a long position at this point is concern the govt. flat out shuts down the markets until things stabilize.  And we clearly have no idea what the outlook would be when it reopened if that were to happen.

If the gov shuts down the markets until things stabilize, you don't want to be long.  It seems like you would want to be, but you won't.

[Skipper 6,136]

1 minute ago, Fudge Nuggets said:

If the gov shuts down the markets until things stabilize, you don't want to be long.  It seems like you would want to be, but you won't.

Probably right.  And to be clear, I'm only considering starting a small position.  Not considering going all in.

[Beau Vine 54,254]

1 minute ago, Skipper said:

Probably right.  And to be clear, I'm only considering starting a small position.  Not considering going all in.

So just the tip?

[LTtxfan 49,249]

32 minutes ago, 52-80 said:

im gonna guess the same as me.  TZA (Russel * -3).  Down premarket, then up at opening, down, up, etc.

im trying to walk my dog and monitor this thing at the same time. 

Is that what they are calling it now??

 

[52-80 19,163]

everytime i step out of the home office to take a shit, make a coffee, fuck south austins mom, etc, and come back, the position is completely different.  this market is fucking loony

[Captainant 27,680]

interesting to line up when the presser started...

[babysdaddy 2,725]

55 minutes ago, Fudge Nuggets said:

If the gov shuts down the markets until things stabilize, you don't want to be long.  It seems like you would want to be, but you won't.

yeah, the Philippines tried that for 2 days and opened up down 24%.

If anyone was watching CNBC after the press conference they had a fucking former tennis pro and at home trader on giving his opinion on markets.  Might as well just pull quotes from this thread.  Totally irresponsible.  He thinks 12.5k or 10k Dow possible based on nothing than his second serve I guess.  

[gsoda3 3,263]

5 minutes ago, babysdaddy said:

yeah, the Philippines tried that for 2 days and opened up down 24%.

If anyone was watching CNBC after the press conference they had a fucking former tennis pro and at home trader on giving his opinion on markets.  Might as well just pull quotes from this thread.  Totally irresponsible.  He thinks 12.5k or 10k Dow possible based on nothing than his second serve I guess.  

hey that's the immortal BRAD GILBERT former tennis pro, home trader, and coach to the stars to you.

Edited March 20, 2020 by gsoda3

[LTtxfan 49,249]

1 minute ago, babysdaddy said:

yeah, the Philippines tried that for 2 days and opened up down 24%.

If anyone was watching CNBC after the press conference they had a fucking former tennis pro and at home trader on giving his opinion on markets.  Might as well just pull quotes from this thread.  Totally irresponsible.  He thinks 12.5k or 10k Dow possible based on nothing than his second serve I guess.  

CNBC has put some really stupid people on TV during this week...  Some of these idiots are stirring shit up while they are buying at the same time.

Really Irresponsible Bullshit !!!

[stone oak 639]

https://www.reuters.com/article/us-health-coronavirus-fed-borrowing/fed-balance-sheet-hits-record-banks-tap-loans-as-crisis-measures-take-hold-idUSKBN216418

[The People’s Elbow 707]

2 hours ago, Dnaguy said:

 

NYC (biggest city in US) and California (largest state economy with the 2nd largest city in US) both on lockdown.

I think it can go lower .... but that isn’t advice, just my hunch.
 

Yeah. It was a shitty hot take in which my emotions got the best of me. I’m ready to go long on some of those. I think my entry point may be (a presumptive) national shelter-in-place announcement or a similar critical mass at the state level. 

Edited March 20, 2020 by The People’s Elbow

[Fudge Nuggets 19,206]

Nothing but chop chop chop, churn and burn today.  There is no clear direction which can mean an inflection point is near.  Or we fall down the elevator shaft, or we shoot straight to the moon.  I think that about covers it, that'll be $9.99.

[Wally Fairway 5,559]

Just now, Fudge Nuggets said:

Nothing but chop chop chop, churn and burn today.  There is no clear direction which can mean an inflection point is near.  Or we fall down the elevator shaft, or we shoot straight to the moon.  I think that about covers it, that'll be $9.99.

Great analysis, truly insightful, absolutely gets right to where the market is today.

I'd like to subscribe - can you make change? All I have is a treefiddy $bill.

[Fudge Nuggets 19,206]

Welp, I think we're fucking done for now.  There is nothing left to prop this up.

[The People’s Elbow 707]

TVIX starting to fly. Let’s see how long this holds. 

[stone oak 639]

Tiiiiiiiiiiiiiiiiiiiiimber

[Fudge Nuggets 19,206]

Wheeeeeeeeeeeeeeeeeeeeeeeeeee

[Harrison Stafford 3,335]

The SPY broke support at 235.  Unless you’re trading or have a corona-virus related stock in play, why would you be long stocks????

Edited March 20, 2020 by Harrison Stafford

[Anastasis 23,475]

This market is like me right now.  Wearing no pants. 

[Rusty Shackelford 414]

SPY must close above 235 or watch out below

[Henry Hill 3,156]

3 minutes ago, Rusty Shackelford said:

SPY must close above 235 or watch out below

Why is that? Honest question.

[UTGrad98 2,280]

3 minutes ago, Henry Hill said:

Why is that? Honest question.

Dec 2018 low. Its what all the retracements so far have been based on. S and P of 2351. 

[Rusty Shackelford 414]

Dec 24 2018 bottom could act as support, if not we'll probably lose at least another 10%

[52-80 19,163]

9 hours ago, 52-80 said:

HAHAH LOSER MOVE SO FAR.

position closed.  ill take it!

[Henry Hill 3,156]

Thanks for the context, fellas.

[Fudge Nuggets 19,206]

I'm going in bareback with some SOXL into the close for shits and giggles.

It's about half of a normal tiny position in these fucktarded ETF's.  Pure Vegas play.

Edited March 20, 2020 by Fudge Nuggets

[TonyTexas 10,516]

You fuckers cheering down moves might want to tone it down. 

[Rusty Shackelford 414]

It's a dog fight right now, can't stop watching

[Dnaguy 12,001]

No circuit breakers in the last, what, 20 minutes correct?

[Dnaguy 12,001]

Here comes the rally that gets us back to even at the last 30 minutes of trading. 
Rush in to buy the bottom!

[stone oak 639]

Friday Fed pump in process

[Harrison Stafford 3,335]

On 3/19/2020 at 11:07 AM, Harrison Stafford said:

Back in SOXS at $28.39.  The market’s not as volatile today, so it may take a few days to get to $33.  If it’s running, will hold for the rise to the mid 30’s.

Sold SOXS at $30 and made money.  Had hoped for more but you have to manage the trade.  Managing losing trades is much more important than managing winners.

[Fudge Nuggets 19,206]

2 minutes ago, Harrison Stafford said:

Sold SOXS at $30 and made money.  Had hoped for more but you have to manage the trade.  Managing losing trades is much more important than managing winners.

Risk management is everything.  Nice trading, padnuh.

[Fudge Nuggets 19,206]

7 minutes ago, Dnaguy said:

Here comes the rally that gets us back to even at the last 30 minutes of trading. 
Rush in to buy the bottom!

 

6 minutes ago, stone oak said:

Friday Fed pump in process

Everyone is expecting it, so it probably won't happen this time.

[Wally Fairway 5,559]

11 minutes ago, stone oak said:

Friday Fed pump in process

I would like to thank the Fed for this opportunity to buy puts at a better price....though I have a couple loaded, I'm having trouble pushing the buy it now button

[Fudge Nuggets 19,206]

Just now, Wally Fairway said:

I would like to thank the Fed for this opportunity to buy puts at a better price....though I have a couple loaded, I'm having trouble pushing the buy it now button

No kidding on no conviction right now.  I'm going to hold off on that SOXL buy (so it will go straight to $100 Monday, everyone else enjoy) because there is absolutely no edge right now.  Overall direction is obviously down, but too easy to get shooked out at the moment.

[stone oak 639]

Fed has left the chat. 2300 broken.

[Fudge Nuggets 19,206]

They can't stop the selling.  This seems worse than those -10% days.

[Henry Hill 3,156]

Yikes.

[ChiTownDoc 21,154]

16 hours ago, The People’s Elbow said:

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. 

Wasn't surprised.  Cratered at the end.  Cha-Ching

[stone oak 639]

S&P 500 closes at 2294. 

Dow at 19173.

Monday should be fun.

 

Edited March 20, 2020 by stone oak

[Dnaguy 12,001]

Wtf with Apple today.

Stock lost like 9% from ~ 1 pm to close.

 

[Hefeweizen 5,328]

Still think it’s headed to 2000.  Until it hits I’m staying on the sidelines.  I’m overall down about 15 percent from the highs because I left some in pimco funds and in a black rock balanced fund.  The carnage is hard to watch.

[Rusty Shackelford 414]

Yep, at least 2100 first stop, maybe lower

[ChiTownDoc 21,154]

24 minutes ago, Hefeweizen said:

Still think it’s headed to 2000.  Until it hits I’m staying on the sidelines.  I’m overall down about 15 percent from the highs because I left some in pimco funds and in a black rock balanced fund.  The carnage is hard to watch.

Been saying this forever.  The hospitals will finally be overflowing this weekend.  I'm not trying to be crass...it's just been very obvious to anyone on the inside that this was coming.  Just a matter of when.  I really feel that is when we go 2k and below - well that and the unemployment numbers coming out.  2000 seems very much a when, not an if to me.  Either way, I'm waiting until that number OR real progress w the virus to put a cent back in. 

[Blotto 23,559]

I used to have 2000 as my beginning entry spot but I thought it would take a couple of more months to get there. We wont even know the effectiveness of the quarentine effort for another couple of weeks, and it better be encouraging because we could be at 2000 by the end of next week. I'm not expecting it, but it wouldnt shock me. Fucking crazy times indeed.

 

[ChiTownDoc 21,154]

My FA who tried desperately for me not to get out of the market.  Damn shame.  CoronaKarma

[UTPhil2006 3,807]

Marcus not so Smart

[LTtxfan 49,249]

1 hour ago, stone oak said:

S&P 500 closes at 2294. 

Dow at 19173.

Monday should be fun.

 

 

S&P 2304 adjusted close...

 

[Beau Vine 54,254]

26 minutes ago, Blotto said:

I used to have 2000 as my beginning entry spot but I thought it would take a couple of more months to get there. We wont even know the effectiveness of the quarentine effort for another couple of weeks, and it better be encouraging because we could be at 2000 by the end of next week. I'm not expecting it, but it wouldnt shock me. Fucking crazy times indeed.

 

I think it's crazy to put some sort of entry number right now, because we have no clue how bad this could get.  I think we'll just know when we've hit bottom.