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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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Wally Fairway

Wally Fairway 5517

Posted
Posted
On 11/22/2023 at 9:54 AM, Wally Fairway said:

Heads up to those who use the Reverse Wally market indicator - I have sold my itm BRK.B 1/19/24 calls and taken those funds to reinvest in 6/21/24 and 1/17/25 $400 calls.

This is almost certain to cause a near term drop in the price of  Warren & Charlie's playhouse.

Holey Shit - I think I killed Charlie.
I have thought of the two of them as an old married couple, I hope that Warren doesn't die from losing his compatriot. 

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Storm the Field

Storm the Field 5270

Posted
Posted

Markets falling like whoa? Not in November. All 3 major indices kicked ass this month. 

In the last 30 days:

Nasdaq 12789->14226 (+11.15%)

SPX 4166->4567 (+9.6%)

DJIA 32928->35951 (+9.15%) 

Nasdaq and SPX are back to just 1% below their high-water marks for the year. Dow is at its highest level in 23 months. 

 

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Redneck Mutha

Redneck Mutha 7923

Posted
Posted
23 minutes ago, Storm the Field said:

Markets falling like whoa? Not in November. All 3 major indices kicked ass this month. 

In the last 30 days:

Nasdaq 12789->14226 (+11.15%)

SPX 4166->4567 (+9.6%)

DJIA 32928->35951 (+9.15%) 

Nasdaq and SPX are back to just 1% below their high-water marks for the year. Dow is at its highest level in 23 months. 

 

tsx pix 2019-1129 hunt for red october 750 - The Sports Examiner

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Wally Fairway

Wally Fairway 5517

Posted
Posted
1 hour ago, HRSchenker said:

I thought the Alaska Airlines purchase of Hawaiian Airlines was awesome. Why is ALK getting crushed this morning? It's down 15%! WTF!

 

1 hour ago, Captainant said:

It's almost like stock prices are driven more by speculation than actual fundamentals, or something

I am thinking it may have something to do with paying $18, for a company whose stock was trading under $5 for the last couple of months

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Trey3216

Trey3216 15325

Posted
Posted
57 minutes ago, Wally Fairway said:

 

I am thinking it may have something to do with paying $18, for a company whose stock was trading under $5 for the last couple of months

Hey, my stock paid a 1% dividend and now the stock is down 1%!!!! WTF!!!!!???

 

"Those greedy stock manipulators have done it again!!!!"   

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Incredulity

Incredulity 11532

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Posted

https://www.cnbc.com/2023/12/05/wells-fargo-ceo-warns-of-severance-costs-as-layoffs-loom.html

  • “We’re looking at something like $750 million to a little less than a billion dollars of severance in the fourth quarter that we weren’t anticipating,” Scharf told investors.
  • That expense is an accrual for worker layoffs that Wells Fargo expects to make next year, according to a spokeswoman for the bank.

 

 

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Snake Diggity

Snake Diggity 4614

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Posted
30 minutes ago, Incredulity said:

https://www.cnbc.com/2023/12/05/wells-fargo-ceo-warns-of-severance-costs-as-layoffs-loom.html

  • “We’re looking at something like $750 million to a little less than a billion dollars of severance in the fourth quarter that we weren’t anticipating,” Scharf told investors.
  • That expense is an accrual for worker layoffs that Wells Fargo expects to make next year, according to a spokeswoman for the bank.

 

 

Serious question out of genuine curiosity and no judgement: why do you so frequently post negative news like that?

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Incredulity

Incredulity 11532

Posted
Posted
15 minutes ago, Snake Diggity said:

Serious question out of genuine curiosity and no judgement: why do you so frequently post negative news like that?

My view of this thread is it is a combination of:

1.) Commiserating with other posters when the "market is falling like whoa" .  Also celebrating new highs(moneytoburn.gif here)

2.) Sharing of current economic news.

 

This story struck me when I was scrolling through Google Finance and was shared with the intent of current news.  I don't believe my posting history in this thread is weighted only to negative.  

 

My current market opinion:  We seem to be bifurcated by industries that are doing very well(Services, Travel, Leisure) and industries that are significantly challenged(Manufacturing, Finance).  I am surprised that the very rapid run up in rates hasn't yet had a broader economic data impact. 

Maybe we soft land, maybe we crater...who the fuck knows.

 

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bernorange

bernorange 8346

Posted
Posted

It's not exactly news that the banks are stressed.  I recently posted news about the banks' unrealized losses on their balance sheets and the Fed's btfp program and Surly was all ad hominems and crickets (excepting one lonely voice that engaged the subject with intellectual honesty).  Some folks just don't like dealing with reality.

From ~2 weeks ago:

 

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Captainant

Captainant 27311

Posted
Posted (edited)
39 minutes ago, StassneyHorn said:

Recruiters get it first, IT gets it last cause they have the passwords

Tell me you've never worked in a large enterprise without telling me. Salaried developers are expensive, and you can hire a shitload of overseas contract devs for the cost of a few salaried employees. I've seen more than one org punch itself in the dick because they were too excited to fire folks without making sure they got all the necessary tribal knowledge documented

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StassneyHorn

StassneyHorn 6534

Posted
Posted (edited)

Worked at Schwab but never in a tech role. Worked maybe 30 minutes in the morning, then an hour breakfast downstairs, 2 hour lunch, 45 minute- 1 hour nap in a different building and I received a Key Contributor Award.

Communicating requirements to contracted freshers is a needle in the dick.

”Do you have a moment for a quick chat on this ticket?”

*spend 30 minutes not being able to get past an accent and they still can’t pin down what they got wrong*

Edited by StassneyHorn
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Incredulity

Incredulity 11532

Posted
Posted
6 minutes ago, Wally Fairway said:

The market is drifting lower, maybe sliding; or conversely it is being affected by selective tax loss harvesting trades. 
Your guess is as good as mine, or anyone elses.

I heard some talking head on CNBC in late OCT say that November would bounce due to annual November fund rebalancing.   No idea if that is the root cause of Nov bounce or not for certain.  

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52-80

52-80 19066

Posted
Posted
On 12/4/2023 at 9:05 PM, Trey3216 said:

Hey, my stock paid a 1% dividend and now the stock is down 1%!!!! WTF!!!!!???

 

"Those greedy stock manipulators have done it again!!!!"   

DYK that when securities are tradeable, their traded prices change as different people speculate on their future value?!?!?!??!

someone please inform the SEC!!!!

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Wally Fairway

Wally Fairway 5517

Posted
Posted
17 minutes ago, bernorange said:

Powell speech today @ 1:30 CT:

https://www.federalreserve.gov/live-broadcast.htm

I will repeat my mantra - shut your whore mouth Mr JPow. 

We all know he will say that the Fed will continue to be cautious; remain diligent in the effort to constrain inflation and he will even hint at a the idea of continuing to hike rates into the first 1/2 of 2024.
Then when he is done talking, he will see if he can close out the puts he bought this morning.

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