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Markets still falling like whoa

Llano Estacado

By Llano Estacado
in Business and Markets

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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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Harrison Stafford

Harrison Stafford 3342

Posted
Posted
1 hour ago, BehoId, The Underminer! said:

isn't that . . . the economy?

Greed may also fuel the economy, but as history has made all too clear, uncontrolled greed can also lead us into a deep and long-lasting economic recession.  Greed is not virtue in financial markets as too many inexperienced, gullible investors get caught up in the latest hot market only to buy in at the top.

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Wally Fairway

Wally Fairway 5589

Posted
Posted

This could go in the COVID thread, but I'm thinking it's better in market 

So I see good old Mitch McConnell is saying he'd rather have states and cities file for bankruptcy instead of having the Fed's bail them out. I would be shocked, but nothing that politicians do these days should really shock anyone. It is astounding that they can pass a bill to get a few bucks to the common man, loans (which become gifts) to companies for payroll (PPP), and bail out the banks and airlines and a few other favored industries; and then tell the States that they are on their own.

The mentality of those who are going to die are going to die has now jumped from the rush to reopen business to a let the states that are going to die die. Like that doesn't cause a whole next wave of financial collapse that the mental midgets in Washington cannot even fathom.

Typing this shit out makes me think I need to buy some precious metals, ammo and restock the pantry with flour, yeast, beans and Shiner Bock.

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SuperSport

SuperSport 1333

Posted
Posted
17 minutes ago, Hefeweizen said:

Let’s pay people not to work and stonks go vertical!

Sadly enough, this is exactly what's happening right now.  Mrs. SS (no pics) works for a staffing agency, and they can't fill orders because people are making way more money through unemployment and the $600/wk CARES bonus than they would with a typical $8-12/hr warehouse or call center job.  And I'm sure they're going to be in a real hurry to get back to work when things reopen...

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bernorange

bernorange 8366

Posted
Posted
2 hours ago, Wally Fairway said:

This could go in the COVID thread, but I'm thinking it's better in market 

So I see good old Mitch McConnell is saying he'd rather have states and cities file for bankruptcy instead of having the Fed's bail them out. ...

It actually belongs in the CR.  There is more to the story than just Covid19.  There has been a growing municipal debt /pension crisis for years.  The city of Chicago and state of Illinois in particular have been borderline bankrupt for at least a year.  Federal bailouts for non-Covid19 problems?  Brrrrrr

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Lurch

Lurch 5931

Posted
Posted
Sadly enough, this is exactly what's happening right now.  Mrs. SS (no pics) works for a staffing agency, and they can't fill orders because people are making way more money through unemployment and the $600/wk CARES bonus than they would with a typical $8-12/hr warehouse or call center job.  And I'm sure they're going to be in a real hurry to get back to work when things reopen...


I’m trying to hire CSRs at $35-40k. W CARES and Florida Unemployment of $275/wk, the unemployed are taking in the equivalent of $45,500. Needless to say, I’m not getting many good candidates.
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LTtxfan

LTtxfan 49373

Posted
Posted
2 hours ago, Wally Fairway said:

So I see good old Mitch McConnell is saying he'd rather have states and cities file for bankruptcy instead of having the Fed's bail them out....      The mentality of those who are going to die are going to die has now jumped from the rush to reopen business to a let the states that are going to die die. Like that doesn't cause a whole next wave of financial collapse that the mental midgets in Washington cannot even fathom.  Typing this shit out makes me think I need to buy some precious metals, ammo and restock the pantry with flour, yeast, beans and Shiner Bock.

 

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Wally Fairway

Wally Fairway 5589

Posted
Posted
10 minutes ago, bernorange said:

It actually belongs in the CR.  There is more to the story than just Covid19.  There has been a growing municipal debt /pension crisis for years.  The city of Chicago and state of Illinois in particular have been borderline bankrupt for at least a year.  Federal bailouts for non-Covid19 problems?  Brrrrrr

Not looking for a bailout, but to at least fund what is required (testing, tracing, etc) to allow states to reopen - I won't tread into the cesspool of CR, but the market will crash if those costs cause States and cities to go past the tipping point (maybe the hidden agenda is to allow the virus to solve the pension and retiree medical problems that bear a large part of the financial troubles)

I just find it ironic that the first (second) stimulus passed, and now congress gets a conscience. I'll stop making my points, because anything more will be too political - but everyone bears a share of the blame for being where we are.

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4thgenhorn

4thgenhorn 38

Posted
Posted
58 minutes ago, Anastasis said:

BYND to the fucking moon.  

 

Guess what dumb ass decided to sell covered call @100 strike against his position yesterday to juice a little cash out of it. 

BYND covered calls are best I’ve ever seen. I sold $115 and $120 today for May 15th, $4.74 and $3.75 when the stock was around $95. I don’t care if they get called away, >20% profit in 22 days would work for me. 5% “monthly dividend” if they don’t. 
 

don’t sweat selling at $100, u made cash. Can always do it again. 
 

wish all my trades went this way. BTW, is there a quick screen u can run to pick out equities paying such great prices for covered calls?  I just do it manually. 

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Anastasis

Anastasis 23491

Posted
Posted
1 minute ago, 4thgenhorn said:

wish all my trades went this way. BTW, is there a quick screen u can run to pick out equities paying such great prices for covered calls?  I just do it manually. 

Nah, no real screener or system, but would love an option screener. I just run through what I have that I wouldn't mind selling, pick a price, and determine if the price of the call makes my pee pee tingle.  If BYND gets called away from me I think I will live.  I will be up about ~60% with the call valued in. I'll look for another buy in point. These guys appear to have money behind them. 

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52-80

52-80 19264

Posted
Posted
35 minutes ago, Tailgate said:

BYND is like the TSLA of food. Big cult following and large opportunities for growth. The competitive landscape will be what to watch as more plant based “meats” are being developed.

their balance sheet is also pretty lean

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bernorange

bernorange 8366

Posted
Posted
7 minutes ago, Trey3216 said:

Soybean, salt, “filler” (which is the chemical composition of sawdust), and other stuff.   It’s worse for you than actual meat 

spacer.png

The oil blend is mostly Canola Oil, which is a terrible Monsanto Frankenstien oil.  The fourth ingredient (methylcellulose) is an indigestible bulk-forming laxative.

Note:  There is no soy in it.

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Fudge Nuggets

Fudge Nuggets 19227

Posted
Posted

Earnings calls for next week:

Monday

CLR (time not supplied)
KDP amc
FFIV amc
NOV amc
OII (time not supplied)

 

Tuesday

MMM bmo
GOOGL amc
LUV bmo
AMD amc
MRK bmo
F ???
SBUX amc
CAT bmo

 

Wednesday

ADM amc
AZZ bmo (no idea who they are, but that ticker tho)
YUM bmo
BA bmo
GE bmo
RCL bmo
CVS bmo
 

Thursday

FLWS bmo (more dead people, more flowers?)
AMZN amc
AAL bmo
AAPL amc
UAL amc
DNKN bmo
BZH amc
TAP bmo
WDC amc
 

Friday

ABBV bmo
XOM bmo
CL bmo
CLX bmo
CVX bmo
 

Overall pretty interesting week.  I think we get a better feel for whether this last month run up is smoke and mirrors or the real thing between Wednesday and Thursday.  If there is a big "sell the news" after AMZN, AAPL report or maybe we get a "meh, it's priced in" after UAL and AAL shit the bed.

I haven't read up on many earnings calls, but the few I have it seems management is not providing any guidance at all for the rest of 2020.  So basically the market appears to be working off the old numbers because why not?

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