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02-28-2020, 06:20 PM
The stock market
Just got off the phone with my advisor guy, market down 12, I'm down 4.
Glad I know he's smarter than me with this shit.
Being told you're delusional does not necessarily mean you're mental.
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02-28-2020, 07:40 PM
The stock market
(02-28-2020, 06:20 PM)brewerb Wrote: Just got off the phone with my advisor guy, market down 12, I'm down 4.
Glad I know he's smarter than me with this shit.
I'm an index fund type. No broker. My dad used a broker. And went broke. Stock pickers depend on commissions no matter how stupid they are. Penneys went from $80 to 80 cents. A coworker bet on MCI on advice from his Broker and lost his life savings. His Broker never missed a meal. I'm sitting on Money Markets and Bonds while the market is crashing, LOL! And for me, it is just monopoly money. It doesn't mean anything until you cash out!
When the DOW hits 24,000 or so, I'll go back in and wait 10 years.
Never argue with people who type fast and have too much time on their hands...
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02-28-2020, 08:36 PM
The stock market
(02-28-2020, 07:40 PM)Cavebear Wrote: (02-28-2020, 06:20 PM)brewerb Wrote: Just got off the phone with my advisor guy, market down 12, I'm down 4.
Glad I know he's smarter than me with this shit.
I'm an index fund type. No broker. My dad used a broker. And went broke. Stock pickers depend on commissions no matter how stupid they are. Penneys went from $80 to 80 cents. A coworker bet on MCI on advice from his Broker and lost his life savings. His Broker never missed a meal. I'm sitting on Money Markets and Bonds while the market is crashing, LOL! And for me, it is just monopoly money. It doesn't mean anything until you cash out!
When the DOW hits 24,000 or so, I'll go back in and wait 10 years.
To each his own, I had a 26% return in 2019. The advisor got 1% in payment.
Being told you're delusional does not necessarily mean you're mental.
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02-28-2020, 09:11 PM
The stock market
(02-27-2020, 04:43 PM)Minimalist Wrote: Apparently the muslims don't think praying to the floor is any more effective that praying to the ceiling.
https://www.afp.com/en/news/15/saudi-ara...oc-1pd6yt3
Quote:Saudi Arabia suspends entry for pilgrims over coronavirus
The way they talk about him you'd think fucking allah could handle a little old plague.
At the end of the day, "insh'Allah" is only a word.
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02-28-2020, 09:17 PM
The stock market
(02-27-2020, 10:21 PM)Dom Wrote: That has absolutely nothing to do with the stock market and the businesses that will have to lay people off, even without anyone getting sick in this country. It's China that matters, and they have a dictator who distorts the truth as well.
I'd imagine that a coherent response would do something to allay investor concerns as well. Of course there will still be a hit, but ameliorating said hit would probably work something in regard to marketplace psychology.
China seems to have missed the boat on that score with this epidemic as well. Unfortunately in this regard, they now have a much bigger economic footprint than in 03 -- meaning that the ripples will spread much wider.
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02-28-2020, 10:08 PM
The stock market
(02-28-2020, 07:40 PM)Cavebear Wrote: (02-28-2020, 06:20 PM)brewerb Wrote: Just got off the phone with my advisor guy, market down 12, I'm down 4.
Glad I know he's smarter than me with this shit.
I'm an index fund type. No broker. My dad used a broker. And went broke. Stock pickers depend on commissions no matter how stupid they are. Penneys went from $80 to 80 cents. A coworker bet on MCI on advice from his Broker and lost his life savings. His Broker never missed a meal. I'm sitting on Money Markets and Bonds while the market is crashing, LOL! And for me, it is just monopoly money. It doesn't mean anything until you cash out!
When the DOW hits 24,000 or so, I'll go back in and wait 10 years.
You're getting close.
https://www.cnn.com/2020/02/28/investing...index.html
Quote:New York (CNN Business)It was a terrible week for the US stock market. The three major stock indexes posted their worst weekly percentage drops since the financial crisis, as coronavirus fears mount.
Stocks spent nearly all day in negative territory with the exception of a brief jump higher in the Nasdaq Composite. Market expectations that the Federal Reserve will step in to stop the selloff and boost the economy have shot through the roof after the dramatic week.
Quote:The lower close shows that investors are willing to hold their positions over the weekend, which signals that the coronavirus -linked selloff might continue. Coronavirus fears have also clobbered the energy market as investors brace for a collapse in demand for everything from jet fuel to diesel and motor gasoline. Decreased factory activity in China, where businesses shut to contain the outbreak, is also weighing on prices.
Crude oil, which is often viewed as a real-time barometer of economic growth, has plunged deeper into a bear market. US oil plunged 4.9% on Friday to $44.76 a barrel. Crude hasn't closed below $46 since December 2018. The commodity is on track for its sharpest weekly decline since 2011.
Meanwhile, Pres. Shitferbrains walks out of the white house mumbling about someone who was sick but "getting better." He hasn't got a fucking clue what is going on.
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02-28-2020, 10:55 PM
The stock market
(02-28-2020, 09:17 PM)Thumpalumpacus Wrote: (02-27-2020, 10:21 PM)Dom Wrote: That has absolutely nothing to do with the stock market and the businesses that will have to lay people off, even without anyone getting sick in this country. It's China that matters, and they have a dictator who distorts the truth as well.
I'd imagine that a coherent response would do something to allay investor concerns as well. Of course there will still be a hit, but ameliorating said hit would probably work something in regard to marketplace psychology.
China seems to have missed the boat on that score with this epidemic as well. Unfortunately in this regard, they now have a much bigger economic footprint than in 03 -- meaning that the ripples will spread much wider.
The damage to the economy is already done, the stock market is just reacting to the news that now the deliveries from China have been sufficiently long interrupted to cause big losses to all businesses who rely on cheap merchandise or parts from China. First the damage got done, then the stock market reacted. The market waited until the impact of no trade with China was definitely going to cause issues.
Many people think it's a reaction to news of a virus - it's not that. It's that the economic damage has begun.
Hopefully China will recover asap, but they have another liar at the helm trying to cover shit up.
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03-01-2020, 11:59 PM
The stock market
In case anyone was wondering what happens next......
https://finance.yahoo.com/news/global-ma...48136.html
Quote:GLOBAL MARKETS-Asian markets set for more losses as coronavirus spreads
Quote:Stock futures plummeted on Monday as investors were rattled by weekend data from China that showed its fastest ever contraction in factory activity, raising fears of a global recession from the coronavirus.
Pandemic fears pushed markets off a precipice last week, wiping more than $5 trillion from global share market value as stocks suffered their steepest slump in more than a decade.
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03-02-2020, 12:42 AM
The stock market
(02-27-2020, 11:36 PM)Aroura Wrote: Perhaps in the long run, this will encourage some of our jobs that were shipped to China to get shipped back.
This does look like the beginning of an economic shit storm for sure. One that we've brought on ourselves in part by outsourcing production and focusing on sales jobs instead.
The truth is, we could all do with a lot less cheaply made crap, the fast fashion and fast furniture and fast food industries are destructive to everyone involved.
People would be better served to pay more for one well made article of clothing or furniture that cost a lot more and lasts decades, but we've been trained over the last few decades to think more is better. Same with food. We've got a lot of cheap calories available.
People will survive without the cheap crap from China, and although it will cost jobs, it might create, or reacreate, more in the long run
In the short run, the serious dangers are food and medical shortages. Assuming this does become a big crash like in 08 I mean.
Trump 2020! (lol kidding)
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03-02-2020, 01:53 AM
The stock market
Quote:Perhaps in the long run, this will encourage some of our jobs that were shipped to China to get shipped back.
Nah, there are plenty of Asian countries that those so-called "Murrican" firms are already moving to.
https://www.axios.com/us-companies-arent...fe2b2.html
Quote:13% of American companies with operations in China have moved or plan to move all or part of their business out of China, but only 3% plan to relocate those operations to the U.S., according to a survey of 220 members of the U.S.-China Business Council. Members include companies like Walmart, Caterpillar and Apple.
The capitalists don't give a shit about you or the country.
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03-02-2020, 02:42 AM
The stock market
Greedy mofos in the manufacturing industries moved their facilities to the Asian Rim decades ago. Putting all that infrastructure back in the US is economically unfeasible, more's the pity.
If you get to thinking you’re a person of some influence, try ordering somebody else’s dog around.
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03-02-2020, 03:25 AM
The stock market
(03-02-2020, 12:42 AM)jerry mcmasters Wrote: (02-27-2020, 11:36 PM)Aroura Wrote: Perhaps in the long run, this will encourage some of our jobs that were shipped to China to get shipped back.
This does look like the beginning of an economic shit storm for sure. One that we've brought on ourselves in part by outsourcing production and focusing on sales jobs instead.
The truth is, we could all do with a lot less cheaply made crap, the fast fashion and fast furniture and fast food industries are destructive to everyone involved.
People would be better served to pay more for one well made article of clothing or furniture that cost a lot more and lasts decades, but we've been trained over the last few decades to think more is better. Same with food. We've got a lot of cheap calories available.
People will survive without the cheap crap from China, and although it will cost jobs, it might create, or reacreate, more in the long run
In the short run, the serious dangers are food and medical shortages. Assuming this does become a big crash like in 08 I mean.
Trump 2020! (lol kidding)
That was tasteless! Funny .. but in poor taste.
"Talk nonsense, but talk your own nonsense, and I'll kiss you for it. To go wrong in one's own way is better than to go right in someone else's.
―F. D.
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03-03-2020, 09:17 PM
The stock market
So, the capitalist pigs got their help from the central banks/fed yesterday and went on a buying spree. Today, they are back to their "wah-wah, WE NEED MORE MONEY" routine.
https://www.cnbc.com/2020/03/02/dow-futu...rally.html
Quote:The Dow Jones Industrial Average closed 785.91 points lower, or nearly 3%, to 25,917.41; it rose more than 300 points earlier in the day. The 30-stock average gyrated between sharp gains and solid losses after the decision was announced. The S&P 500 fell 2.8% to 3,003.37 while the Nasdaq Composite pulled back 3% to 8,684.09.
Isn't it funny that when Joe Blow citizen wants help from the government it is SOCIALISM.
But when these greedy cocksuckers want it, well, that's all fine and dandy.
Time to roll out the guillotines!
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03-04-2020, 03:24 AM
The stock market
Yesterday's market rally was just a dead cat bounce. This is going to get a lot worse and fast. I'd be surprised to see the Dow north of 20,000 by month's end. There are several things feeding back on each other ATM:
- The market was grossly overpriced and begging for a "correction". Lovely euphamism for losing a few trillion. Oddly enough that's what happens when you feed the market a few triilion in tax breaks which then get channelled into stock buy-backs. rather than actual investment.
- Investors knew this and were already jittery, fearing the drop but trying to squeeze out as much profit as they could while the party lasted. Now somebody's shouted "Fire!" and it's a stampede to the exits.
- The actual damage to the global economy caused by COVID-19. Shutting down large parts of China is causing merry hob with supply chains everywhere. Nobody knows how bad it is or when that might improve.
- The fears of what the COVID-19 pandemic will bring. I know, it isn't officially a pandemic yet. Wait until that announcement comes out if you want to see the markets plunge. Right now this is mostly happening on the other side of the world. Just wait until somebody on the exchange floor sneezes the wrong sneeze.
- The certain knowledge that the Fed can't do jack about this pandemic, nor can any economic stimulus. And the heads of state, or whatever piece of anatomy they are, are bungling eejits. Whither Zeimer and Bossert? Oh. Right. He let them go, scrapped their pandemic- response teams and replaced them with Mike Pence.
- The uncertainty. Add a global market crash to a plague sweeping through the Middle East, Sub-Saharan Africa, and Latin America, a bunch of "strong-man" heads of state, a trend towards populism/fascism, and a few rogue states armed with nukes and you can be pretty sure that nothing good will come of it. We don't know the exact nature of the beast that will be born of that and that uncertainty is frightening.
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03-05-2020, 06:05 PM
The stock market
So after tanking all the way down to "Correction Territory" the last few days have seen a fascinating roller coaster where the market gains and loses the same 1,000 points on alternating days. Meanwhile Fuckface and Prayer Boy sit there doing nothing but lie and business watch their scrotums shrivel up as their profit projections go out the window.
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03-05-2020, 06:12 PM
(This post was last modified: 03-05-2020, 06:13 PM by Bucky Ball.)
The stock market
The last 2 days are called a "dead-cat bounce" to market watchers.
Look at airline stocks. Some are off 40 % from two weeks ago.
The dollar is tanking. Dom was so wise to get out when she did.
Not only was a correction overdue, but the virus thingy will propel it down quite a way further.
Things will improve only when there are data which can predict infection rates.
Right now, we can't even test. Trump promised test kits by the end of this week.
He failed to fulfill that.
That said, (sorry about this), it's a traders dream-come-true.
All the dollar related currencies at going crazy, and gold is popping up.
Test
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03-05-2020, 06:18 PM
The stock market
(03-05-2020, 06:12 PM)Bucky Ball Wrote: The last 2 days are called a "dead-cat bounce" to market watchers.
Look at airline stocks. Some are off 40 % from two weeks ago.
The dollar is tanking. Dom was so wise to get out when she did.
Not only was a correction overdue, but the virus thingy will propel it down quite a way further.
Things will improve only when there are data which can predict infection rates.
Right now, we can't even test. Trump promised test kits by the end of this week.
He failed to fulfill that.
That said, (sorry about this), it's a traders dream-come-true.
All the dollar related currencies at going crazy, and gold is popping up.
If I was younger, I would be watching like a hawk to pick up stocks that are essential or otherwise not directly affected by international trade or disease. There is going to be a lot of collateral damage, and those stocks will rebound in the long run. But yeah, I am glad I got out. The timing was correct for me.
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03-09-2020, 01:00 AM
The stock market
Meanwhile in Asia on Monday....
https://finance.yahoo.com/news/dow-futur...11153.html
Quote:Dow futures plunge 1,000 points, crude prices tumble as fears of oil price war add to virus angst
Quote:Asian stock markets and U.S. futures tumbled again Sunday evening following a sharp drop in crude prices, rattling investors who were already grappling with economic disruptions from the coronavirus outbreak.
Dow futures plunged 1,000 points and Standard & Poor’s 500 futures dropped 4.2%. Stocks in Asia plummeted, with Japan's Nikkei 225 sliding 3% while Australia's S&P/ASX 200 shed 5%.
Bond yields, meanwhile, slumped to new unprecedented lows. Global markets have endured multiple roller coaster weeks following uncertainty over how much damage the deadly virus will do to the global economy.
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03-09-2020, 02:21 AM
The stock market
(03-09-2020, 01:00 AM)Minimalist Wrote: Meanwhile in Asia on Monday....
https://finance.yahoo.com/news/dow-futur...11153.html
Quote:Dow futures plunge 1,000 points, crude prices tumble as fears of oil price war add to virus angst
Quote:Asian stock markets and U.S. futures tumbled again Sunday evening following a sharp drop in crude prices, rattling investors who were already grappling with economic disruptions from the coronavirus outbreak.
Dow futures plunged 1,000 points and Standard & Poor’s 500 futures dropped 4.2%. Stocks in Asia plummeted, with Japan's Nikkei 225 sliding 3% while Australia's S&P/ASX 200 shed 5%.
Bond yields, meanwhile, slumped to new unprecedented lows. Global markets have endured multiple roller coaster weeks following uncertainty over how much damage the deadly virus will do to the global economy.
The Saudis started a trade war with Russia. Oil is about 30 dollars per barrel. Two of Trump's besties are at each other's neck.
The Dow is set to open (about) where it was 30 months ago. Lower than the last two weeks. That will fluctuate during the night here, as Europe opens and trades.
Test
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03-09-2020, 03:11 AM
The stock market
And Fuckface will blame Obama!
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03-09-2020, 11:06 AM
The stock market
Probably, if I had money burning in my fingers, I would invest in delivery services. If I still had any money in the stock market, I'd move it to those companies. They'll be busy, and people will get more used to the convenience. Grocery stores are already adapting by offering delivery and pickup, you compile your order online, they pick it and either you pick it up or they deliver. Most use small delivery services. I have used that service twice now, and since they don't pick from the store but from the warehouse, everything is fresher and more perfect. Plus your stuff has a lot less exposure to peeps...
That said, this decline was going to happen one way or another, just a bit slower. I am glad I got out when I did. Being retired, I could not replace lost funds, and I do need them.
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03-09-2020, 01:42 PM
The stock market
The Dow, S&P, and NASDAQ are all down 7 points this morning.
Mountain-high though the difficulties appear, terrible and gloomy though all things seem, they are but Mâyâ.
Fear not — it is banished. Crush it, and it vanishes. Stamp upon it, and it dies.
Vivekananda
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03-09-2020, 01:48 PM
The stock market
The market has been shut down.
https://www.marketwatch.com/story/sp-500...2020-03-09
S&P 500 falls 7%, triggering temporary stock-market trading halt
The S&P 500 SPX, -7.00% fell 7% shortly after the opening bell Monday, triggering a so-called circuit breaker that halts stock-market trading for 15 minutes until 9:49 a.m. Eastern. If the benchmark index were to fall 13% on the day once trading resumes, it would trigger another 15-minute halt. Trading wouldn't halt if the decline occurred after 3:25 p.m. Eastern. A 20% drop in the S&P 500 would trigger what's known as a level three cirucit breaker, which would stop trading for the remainder of the day.
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03-09-2020, 02:15 PM
The stock market
I had a bunch of my money pulled back because of the impending correction, and moved into less risky products. Got it ahead of the coronavirus outbreak, but that's due to my investment people's foresight. It's what I pay them for.
Kind of dark, but I suspect that the funeral and cremation businesses would be a good investment in the near-term.
If you get to thinking you’re a person of some influence, try ordering somebody else’s dog around.
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03-09-2020, 02:24 PM
The stock market
(03-09-2020, 02:15 PM)Fireball Wrote: I had a bunch of my money pulled back because of the impending correction, and moved into less risky products. Got it ahead of the coronavirus outbreak, but that's due to my investment people's foresight. It's what I pay them for.
Kind of dark, but I suspect that the funeral and cremation businesses would be a good investment in the near-term.
If I was still an entrepreneur, I would start a local delivery/errand service and try to grow it. People will get used to using it same as they did Amazon etc, and it would still thrive when all of this is said and done.
Of course, if we all go to hell in a handbasket, it won't work and it won't matter.
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