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Markets still falling like whoa

Llano Estacado

By Llano Estacado
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Dnaguy

Dnaguy 11944

Posted
Posted

I didn’t think that posting the presidents tweet was inherently political and I hope I didn’t piss anyone off.  
 

Serious question through, if the Saudis pull back, what to they get in return?

I mean, aren’t they trying to punish the Russians who are trying to get at US shale producers?

Was this all for nothing?

I have a feeling that there’s still shenanigans at play here.

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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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Wally Fairway

Wally Fairway 5543

Posted
Posted (edited)

Prez moving the market with tweet; lulz at how little effect it actually has on the market. More impact on O&G, if it plays out as described. 

I love the qualifier (in the tweets above) "if it happens" - but it's already priced in the market!!

Quote

Dow jumps more than 200 points after Trump tells CNBC Saudis and Russia will ease oil pressure

 

Edited by Wally Fairway
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Blotto

Blotto 23498

Posted
Posted
9 minutes ago, Dnaguy said:

I didn’t think that posting the presidents tweet was inherently political and I hope I didn’t piss anyone off.  
 

Serious question through, if the Saudis pull back, what to they get in return?

I mean, aren’t they trying to punish the Russians who are trying to get at US shale producers?

Was this all for nothing?

I have a feeling that there’s still shenanigans at play here.

Who knows whats going on behind the curtains, but I presume we have a lot more leverage over SA than Russia. 

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Fudge Nuggets

Fudge Nuggets 19190

Posted
Posted
6 minutes ago, WBT said:

I got in on XOM last week at 32.  Wish I had bought more.

It was a couple of weeks ago but I bought 1,000 shares just a smidge under 32 - was going to add another 1,000 if it dropped under 30.  Wish I had put every cent of cash I had into it then, but I'll take it.

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Anastasis

Anastasis 23469

Posted
Posted
5 minutes ago, bernorange said:

At this point, Saudis, Russia and OPEC+ cutting production won't make much of a shit.  Demand is down because economies are paralyzed.  Demand is down and tanks (reserves) are near max capacity. 

Stop harshing my buzz.

 

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Henry Hill

Henry Hill 3156

Posted
Posted
2 hours ago, Trey3216 said:

In other Fuck China news:

Luckin Coffee -83% on fraud finding

Apr. 02, 2020 9:05 AM ETLKBy: Clark Schultz, SA News Editor4 Comments
  • Luckin Coffee (NASDAQ:LK) craters in premarket trading after the board was made aware that a special committee found that COO Jian Liu and several employees fabricated transactions of as much as $310M.
  • An independent special committee was formed to oversee the internal probe on audit issues.
  • The development is also of interest to Starbucks (NASDAQ:SBUX) with Luckin considered a major challenger in China.
  • LK -82.60% premarket to $4.55.

Doesn’t Portnoy hold that?

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Captainant

Captainant 27654

Posted
Posted

The market surging doesn't make a bit of sense. 

We're up to 10+ million newly unemployed, mostly from the food service sector, and there's around another 8m working retail per BLS stats. That's at least 18 million jobs that are going to be hurt by COVID-19, not to mention to pain to downstream suppliers from loss of revenue there. 

I just don't see how the market gains are justified. Pain is a comin

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Wally Fairway

Wally Fairway 5543

Posted
Posted
8 minutes ago, Captainant said:

The market surging doesn't make a bit of sense. 

We're up to 10+ million newly unemployed, mostly from the food service sector, and there's around another 8m working retail per BLS stats. That's at least 18 million jobs that are going to be hurt by COVID-19, not to mention to pain to downstream suppliers from loss of revenue there. 

I just don't see how the market gains are justified. Pain is a comin

the market has already taken all of that into account

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Fudge Nuggets

Fudge Nuggets 19190

Posted
Posted

I'm using today to do some house cleaning in my degenerate gambling account.  Shed some real shitastic losers... trades that turned into "investments" that never turned around.  The only reason I'm clearing them out is TDA is zero commission.  No f'ing way I would pay $5 per transaction to get rid of these deadweight shit stains.  Hell, some of them the value of stock I sold was barely $10.

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Eastwood

Eastwood 4394

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Posted
47 minutes ago, The People’s Elbow said:

The airlines are still taking a smooth buttfucking, though. 

I bought American Airlines at $16 two weeks ago thinking that the bailout news would boost them. Apparently, the airlines are immune to the sunshine pumping.

giphy-downsized-large.gif

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Eastwood

Eastwood 4394

Posted
Posted
21 minutes ago, 52-80 said:

2nre7u.jpg

 

Actually, yes. Just started trading full time with the free time that I now have. If it weren't for my SPY puts and my stupid AAL purchase, I would be at 19% returns. Currently at 3% returns over a week and a half. Most of those returns were from shorting Oneok after they had their 11% jump last week. Just from what I know about that company, I knew it was fool's gold. Bought a $23 put for cheap and it returned $956 in just 2 days.

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LTtxfan

LTtxfan 49170

Posted
Posted
1 hour ago, Lurch said:

Great interview on CNBC w Jim Chanos

Yeah Chanos not big on Chinese Companies or Gig Economy (UBER, GRUB).

He's still short TSLA... seems like trying to prove a point but difficult with such a parabolic stock.  (TSLA short may not be a large position though)

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Fudge Nuggets

Fudge Nuggets 19190

Posted
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39 minutes ago, bernorange said:

Cautionary tale apparently developing with Zoom.

https://www.marketwatch.com/story/guid/b7c418b4-7433-11ea-8a54-63f9ee54c9d9?siteid=rss&rss=1

Meh, that will buff out soon enough.  What won't buff out nearly as fast is the upcoming dilution that they do to "raise funds for general corporate purposes".  You know it's coming, no corporate board can resist the chance when they are the hot stock to fuck over the current bag holders to raise more funds.

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52-80

52-80 19150

Posted
Posted
49 minutes ago, Eastwood said:

Actually, yes. Just started trading full time with the free time that I now have. If it weren't for my SPY puts and my stupid AAL purchase, I would be at 19% returns. Currently at 3% returns over a week and a half. Most of those returns were from shorting Oneok after they had their 11% jump last week. Just from what I know about that company, I knew it was fool's gold. Bought a $23 put for cheap and it returned $956 in just 2 days.

if you havent lost your shirt, i'd say its a good use of idle time. 

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bernorange

bernorange 8359

Posted
Posted
On 3/26/2020 at 4:18 PM, bernorange said:

Fed Balance Sheet 3/26:  $5.302T

Roughly $600 billion "stuff" bought in the last week.  Do we hit $6T next week?

Close, but just shy.

Fed balance sheet 4/2:  $5.859T

Maybe it hits $7T next week with the new program to buy Treasuries from foreign banks.

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Lurch

Lurch 5930

Posted
Posted
Lot of people hate him, but Chanos is one of my all time favorites in the industry.  He's one of the smartest guys out there from what I can tell.


I got the impression he could give an insightful 15+ min lecture on any topic they threw at him, and he would do it in a way that keeps the audience engaged, regardless of their own experience on the topic. Really a unique interviewee these days.
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LTtxfan

LTtxfan 49170

Posted
Posted (edited)
3 hours ago, Lurch said:

I got the impression he could give an insightful 15+ min lecture on any topic they threw at him, and he would do it in a way that keeps the audience engaged, regardless of their own experience on the topic. Really a unique interviewee these days.

 

 

To hear today's Chanos interview, here yah go...

 

Edited by LTtxfan
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LTtxfan

LTtxfan 49170

Posted
Posted

Banks will be overwhelmed with requests today for SBA funds.

Guessing Trump will try to put out more positive info on oil since he's meeting with several energy CEO's today.

Will be surprised if some late selling doesn't happen again today -- getting harder to stay long in some positions over weekends right now due to more significant negative news risk.

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LTtxfan

LTtxfan 49170

Posted
Posted
On 4/2/2020 at 8:20 AM, workswithseed said:

https://www.cnbc.com/2020/04/02/luckin-coffee-stock-plummets-after-investigation-finds-coo-fabricated-sales.html

Fucking China, man.

Trey beat me to it, but point still stands.

 

Would be interesting to know who leaked this report back in January, and then possibly profited from the Luckin Coffee cliff-dive...

 

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Anastasis

Anastasis 23469

Posted
Posted
2 minutes ago, Fudge Nuggets said:

Got back into short $IWM at $106 earlier this morning.  I’m going to give the 3x leveraged ETFs a pass as I feel like I’ve dodged several bullets with them the last few weeks. 

I got NowThis'd by leveraged ETFs this week.  Still playing em today though cause dopamine. 

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Wally Fairway

Wally Fairway 5543

Posted
Posted

more traffic here, although this is really a #stonks question - 2 part question

1) do we see a Fed push at the end of today, if so will it be enough to offset the fear of holding over the weekend?
b) leave it all on the don't pass line, or lighten the load and take some off the table

the correct answer to b) is to take some profits, as that is always a good choice, the #stonk answer to b) is don't be a pussy

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