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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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Last-ditch negotiations at the US Congress to forge another stimulus package for the coronavirus-ravaged economy have collapsed in stalemate.

Democrats and Republicans remain at odds over everything from unemployment benefits to financial aid for schools to cash injections for states' coffers.

The US unemployment rate stands at 10.2%, higher than any level during the 2008 financial crisis.

Jobless benefits have expired, as has a federal moratorium on evictions.

 

 

 

 

 

 

Rug pull finally coming this week?

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Captainant

Captainant 27597

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Academically speaking, how are these stocks continuing to increase in value? Is it solely coming from BRRRRRT now? Consumer spending is shrinking like crazy, enterprise/business spending is either frozen at current levels or falling, and GDP shrunk by a third last quarter.

Is it really that current stock values are solely being pinned by the efforts of the fed? Because if so, that golden goose is gonna run outta eggs eventually. JPow can't just keep buying up corporate bonds because then it's just state-sponsored capitalism, not actual free market capitalism.

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Aqua Buddha

Aqua Buddha 14581

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Former McDonald's CEO getting sued for his $40M severance package.  Was playing around with three different employees and gave one a large block of stock grants.  All of this was on his company phone that he was using to send noodz.

Does anyone know how to be discreet anymore?  Don't ever merge your work and personal phone and always pay with cash.

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tokamak

tokamak 6383

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I don’t think it’s just the fed. The well off are doing fine through COVID (so far), just chilling and working from home. But they’re not out taking vacations, buying cars or big ticket items, etc. Gotta do someone with all that money piling up. Interest rates are garbage so no point in saving. Hence, buy equities.

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Cheeseweasel

Cheeseweasel 26438

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11 minutes ago, Aqua Buddha said:

Former McDonald's CEO getting sued for his $40M severance package.  Was playing around with three different employees and gave one a large block of stock grants.  All of this was on his company phone that he was using to send noodz.

Does anyone know how to be discreet anymore?  Don't ever merge your work and personal phone and always pay with cash.

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Captainant

Captainant 27597

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16 minutes ago, tokamak said:

I don’t think it’s just the fed. The well off are doing fine through COVID (so far), just chilling and working from home. But they’re not out taking vacations, buying cars or big ticket items, etc. Gotta do someone with all that money piling up. Interest rates are garbage so no point in saving. Hence, buy equities.

I get the market-side of that, but that's driving the underlying value in the equities? Bank profits are down, business revenue is down (aggregate across the economy), consumer spending is down. Just because people pay more for something doesn't intrinsically make it worth more - that's why bubbles happen

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Dnaguy

Dnaguy 11884

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24 minutes ago, tokamak said:

I don’t think it’s just the fed. The well off are doing fine through COVID (so far), just chilling and working from home. But they’re not out taking vacations, buying cars or big ticket items, etc. Gotta do someone with all that money piling up. Interest rates are garbage so no point in saving. Hence, buy equities.

 

TINA.

There is literally nothing else you can do with your money.

 

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tokamak

tokamak 6383

Posted
Posted (edited)
25 minutes ago, Captainant said:

I get the market-side of that, but that's driving the underlying value in the equities? Bank profits are down, business revenue is down (aggregate across the economy), consumer spending is down. Just because people pay more for something doesn't intrinsically make it worth more - that's why bubbles happen

No disagreement from me there. I think the price of stocks is pretty much divorced from any "underlying value" right now. Seems like most on this thread would agree. What's the old saying though - "the market can stay irrational longer than you can stay solvent" or something like that?

What's interesting is that it appears to me that the market right now will grab on to any sliver of positive news. Company X was expected to lose $2 bn this quarter, but only lost $1.6 bn? Buy Company X!!! I'm far from an expert on this shit but that feels like another classic bubble behavior to me.

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tokamak

tokamak 6383

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18 minutes ago, Wally Fairway said:

I feel like dipping my toes back into buy SPY puts, someone talk me out of it.
"it's too soon", stocks still only going up ..... brrrrrrrrrrrrrrr machine just reloading

I've actually been thinking about moving some money back in, and the Do the Opposite of Tokamak (TM) strategy is basically guaranteed money. So my advice is to mortgage your house for puts.

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Captainant

Captainant 27597

Posted
Posted (edited)
8 minutes ago, B00M said:

Covid depressed shit like airlines, cruise lines and casinos up 10% today. Did I miss some vaccine news? 

I bought some puts on MGM a few weeks ago while I was drunk that expire this Friday , so that's probably it

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Blotto

Blotto 23478

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52 minutes ago, B00M said:

Covid depressed shit like airlines, cruise lines and casinos up 10% today. Did I miss some vaccine news? 

Hope is a powerful drug. Airlines seemed to perk up because the number of airport security checks was released today and about 10X higher than the low point in March. Never mind that they are still 70% below where they were a year ago. 

https://www.barrons.com/articles/airline-stocks-are-taking-off-why-there-might-not-be-a-rough-landing-51597080242

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