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Markets still falling like whoa

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bernorange

bernorange 8,361

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Some of the world’s wealthiest people have sold more than $3 billion of stakes in their major holdings since August, diversifying their fortunes as stock markets rebounded. ...

... In the week ended Sept. 11, insiders disclosed selling $473 million of shares, while buying only about $9.5 million.
...

https://www.bloombergquint.com/business/super-rich-step-up-large-stock-sales-after-global-prices-surge

Smart money getting nervous about the future?

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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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Cheeseweasel

Cheeseweasel 26,438

Posted
Posted
Just now, Eastwood said:

I don't how right this is, but Twitter was saying that for the first time in history, options volume exceeded stock volume in August. Usually it's around 40%. Crazy, if true. Also explains how insanely expensive options have been.

Newb investors are going to get FOCKED so hard. 

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Captainant

Captainant 27,656

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3 minutes ago, Eastwood said:

I don't how right this is, but Twitter was saying that for the first time in history, options volume exceeded stock volume in August. Usually it's around 40%. Crazy, if true. Also explains how insanely expensive options have been.

Robinhood has brought quite a large market of suckers into the market. I'm not sure of any other platform that so freely lets folks trade options

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Eastwood

Eastwood 4,394

Posted
Posted
Just now, Captainant said:

Robinhood has brought quite a large market of suckers into the market. I'm not sure of any other platform that so freely lets folks trade options

Not just freely, but without any guidance or resources. People come in with a basic understanding of margin and get their faces ripped off.

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Blotto

Blotto 23,498

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1 hour ago, 52-80 said:

probably noone.  the premium on that was rightfully insane

Pretty much. If anyone read that Hindenberg report, it was clear that there were some serious issues with how that company was run. How the fuck GM allowed themselves to get roped into this goat fuck is beyond me. I guess they can absorb whatever is left of NKLA and continue work on the gravity drive. 

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CooterBrown

CooterBrown 18,006

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2 hours ago, Blotto said:

How the fuck GM allowed themselves to get roped into this goat fuck is beyond me.

Because they've been caught flat footed by every fucking automotive trend in the past 30 years?  They're grasping at straws at this point and grabbed on the biggest one available that no one else was touching.

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bernorange

bernorange 8,361

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On 9/18/2020 at 8:00 AM, bernorange said:

Smart money getting nervous about the future?

 

54 minutes ago, Wally Fairway said:

Well that explains why I'm losing money ...

It's rather eerie how well that post coincided with this morning's sell off.  Of course the article I referenced was describing a month long trend, so it wasn't intended to be predictive of this sell off, but I think it was indicative of the larger picture (political season chaos spooking markets).  Probably RBG's passing accelerated/enhanced the already existing political fears.  Interesting times and all...

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Cheeseweasel

Cheeseweasel 26,438

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1 minute ago, bernorange said:

 

It's rather eerie how well that post coincided with this morning's sell off.  Of course the article I referenced was describing a month long trend, so it wasn't intended to be predictive of this sell off, but I think it was indicative of the larger picture (political season chaos spooking markets).  Probably RBG's passing accelerated/enhanced the already existing political fears.  Interesting times and all...

Markets hate uncertainty. We are in the most extreme of uncertain times. Big Cigars have all flipped on us.

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bernorange

bernorange 8,361

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Yep.  FWIW:

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Markets kicked off a new trading week in a risk-off mode, with the U.S. dollar rising, stocks selling off and gold prices plunging. It’s hard to point to just one single reason why this is happening, notes BBH Global Currency Strategy. “[There are] rising viral numbers in Europe, rising hard Brexit risks, softening recoveries in the major economies, rising political risk in the U.S., and a negative report on the global banking sector. Some of these drivers have been present for weeks, if not months, but the confluence of so many negative factors has been too much for equity markets to ignore,” says BBH. The big new political headline the markets are digesting is the death of Supreme Court Justice Ruth Bader Ginsburg on Friday, which is creating a lot of volatility. “The most direct impact is likely to be further delays in the stimulus package. Indeed, we think it has become less likely that a deal comes before the election, as the Republican-led Senate appears to be marshaling all its forces now into pushing through a replacement for Justice Ginsburg,” BBH writes. The U.S. dollar, in the meantime, is making gains with the DXY last trading at $93.60, up 0.73% on the day. “With so much uncertainty, no wonder the markets are taking some profits now and moving to the sidelines with 43 days left until the election.”

https://www.kitco.com/news/2020-09-21/Investors-are-taking-profits-off-the-table-as-election-uncertainty-looms-BBH.html

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Eastwood

Eastwood 4,394

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Posted (edited)

One article I read mid morning was saying that RBG's death has made the next round of stimulus dead in the water. Political powder is being kept dry for the coming fight over SCOTUS. Expecting a lot of volatility until after the election. Good thing all my calls are December and January and the rest is long.

Edit: I posted this right after the article above was posted, so yeah...

Edited by Eastwood
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washparkhorn

washparkhorn 9,939

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Posted (edited)

Fiscal Stimulus is dead in the water.

Imminent threat is fed govt. shutdown. Tentative deal was reached a few weeks ago. Bill introduced today but met with criticism. Add in European second wave + RBG and we have uncertainty with significant economic consequences. 

The Fed has continued to print but stated fiscal response is needed to maintain the markets. Remove the fiscal lever from the toolbox - we are reliant on duct tape.

image.png.c1bdcb444460d656a69b4c95cf7e8d04.png

Edited by washparkhorn
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tokamak

tokamak 6,422

Posted
Posted (edited)
45 minutes ago, atomheartbevo said:

I'm also thinking a lot of retailers are going to be concerned about this little holiday period coming up.

I'm surprised this isn't getting more play. Rice Village in Houston (old school, no big box shopping center in a very nice part of town) is an absolute ghost town these days. Any retailer that's not Walmart or Target has got to be getting crushed right now, and no further stimulus sure ain't gonna help.

Edited by tokamak
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Trey3216

Trey3216 15,346

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4 hours ago, CooterBrown said:

Because they've been caught flat footed by every fucking automotive trend in the past 30 years?  They're grasping at straws at this point and grabbed on the biggest one available that no one else was touching.

Tough to be 'The Heartbeat of America' with all the obesity, myocarditis, high blood pressure, and diabeeetus.   

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BevoSwag

BevoSwag 272

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Posted
On 9/1/2020 at 9:24 AM, BevoSwag said:

Fair Warning To Surly Viewers:  I've started dabbling in small buys in the market today.  Beware of the impending crash.

Ok.  today I've sold out those losers I starting dabbling in so be warned.  The market is probably going to rise 15% during the rest of September. 

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Dnaguy

Dnaguy 11,948

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16 minutes ago, 52-80 said:

HSBC busted in major money laundering, including for DPRK

 

Im gonna bet about... 1 brazillion dollars that Deutsche Bank was in on the act, too

Weren’t they also laundering money for the cartels too back in the Panama papers?!

Fucking A man. It’s almost as if banks only make money if they do shady shit.

Maybe we should deregulate them some more so they can get their act together.

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Fudge Nuggets

Fudge Nuggets 19,190

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8 hours ago, bernorange said:

We had some peeps from the purchasing dept of a fortune 500 company conference call us to beg for a discount on their annual bill for a software license.  They were emotionally distraught.  The company is deep in the red this year and they are having to slash budgets, jobs, etc.  2020 is ass.

Come on man, spill it.  If we can't get our insider trading freak on here, where can we?

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Cheeseweasel

Cheeseweasel 26,438

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8 hours ago, bernorange said:

We had some peeps from the purchasing dept of a fortune 500 company conference call us to beg for a discount on their annual bill for a software license.  They were emotionally distraught.  The company is deep in the red this year and they are having to slash budgets, jobs, etc.  2020 is ass.

Please tell me your response was "Fuck you pay me"

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