It started with the Coronavirus and now that panic spread into the oil markets and a price war broke out between Russia and Saudi Arabia. The result is sharply lower oil prices, presently down over 18% to $33. Oil had been trading $28 until it rebounded. Due to the 7% decline in stocks, the market halted trading and re-opened down over 2,000 points.
The carnage is surreal. Here is a list of stocks down 20% now, with caps over $5b.
All eyes are on the Fed now, due to our reliance upon this organization for just about everything since 2008. The unprecedented nature of this Black Swan has forced the entire yield curve under 1%. The 30yr is 0.94% and the 10yr is under 0.5%. Unreal.
As for me, I sold off my plague stocks, and then bought 1 more, for net gains. I am now 45% cash, tempted to go long but also tense by the violent trading action causing me to be cautious.
COCP +47%
BCRX +5.2%
(TRIB -20%)
(MRNA -6.8%)
Have we bottomed? I have no fucking idea.
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My only working charts are deep in the bowls of Schwab I’m basically flying blind
EDIT: my bitcoin charts are working 🙂
The bottom is south of SP 2000. IMO.
The bottom must be near. Wasn’t your last comment here in December ‘18?
Don’t know but YOU should buy.
Im buying EPD hand over fist. But Im a 37 yr old geezer div stock guy.
Text to Buffett:
Me:you buyin’ here?
Buffett:Why? Sup?
Me:oil down 30%. Market limit down. Trading halted. Locusts in Pakistan.
Buffett:brb, I’m horny
cue Mr. Knowitall in three, two, one…
There is a possibility the Euro is about to join the party. Already completely reversed it’s 10% 1 day rally vs the aussie.
I must show some gratitude to numbers. He talked me out of TSLA calls. I went with puts instead and made enough to buy a Cybertruck. Thanks dude! You must be a millionaire by now having seen this coming?
It”s unbeleivable how well your trades do, especially since the positions you actually recommend fail spectacularly.
“Unbeleivable”, I really mean that.
Unbelievable is what the person who bought your 3x long bonds is saying this morning.
Too bad you didn’t keep more of your bonds to cushion your losses today.
Well I’m sure you have some High yield junk, but that’s not helping today.
If you think that you know investing better than I do, why not share your trades?
What are you afraid of?
In other news, I closed my QQQ Puts when they hit $192.12, and went 100% long with my full account with QQQ Calls at the exact same time. Then I closed those Calls out at $201, waiting for anthoer entry point. See? I’m a super duper hindsight trader, too!.
(I know I should have held them until $201.15, so I’ll try harder next time)
BTW, no, I’m not a millionaire, but ask me again in a year.
Trump getting PWND by House of Saud and Putin.
Thanks Obama!
And another republican administration that didn’t win the popular vote ends in EPIC MARKET DUMP??
These catastrophic market losses will all be worth it if our retarded president loses his reelection bid.
Unfortunately for you, Trump wins again, much like Fly. He will now pass the blame on corona and Russia and continue winning.
This is a mere taste of things to come should Trump lose the election.
Biden….maybe not so much as people will be looking at his vice president since he will be diagnosed with dementia shortly after taking office.
I own an adult foster care home. I see the signs…He’ll be wearing Depends by November. If he is not incarcerated…
Bernie on the other hand, should he be elected by Antifa and the millennial faggots, will trigger the S&P to the 1300 range.
You heard it here first.
Here first? Really? Pretty sure it’s been said a few thousand times on Fox News and a couple dozen more on Trumps Twitter
By the way, how’s that Crypto safe haven working out for all you beta homos? LOL
You just called the bottom fag
Love seeing those lazy Saudi faggot squirm under $30 oil prices. They were able to produce billions of barrels of oil basically by sticking their little dicks in the sand, and now they’ve squandered that unbelievable wealth all these years. I hope their shitty kingdom collapses.
Best way to fight terrorism is to deny them the money they need to conduct “business”.
Unfortunately for Europe, the continent is doomed. Scandinavia in particular.