The knee-jerk reaction here is to buy. But what are you buying? You’re getting long into the teeth of a virus that has forced commerce to halt around the world. Moreover, this decline is crude is tangible and means your oil company is now losing money. I get why you trade for a trade, but I do think this decline has been too orderly and would expect a RETEST of the days lows.
As such, I sold out of my plays that I put on Friday, all but one, and now have a 70% cash position.
COCP +47%
BCRX +5.2%
(TRIB -20%)
(MRNA -6.8%)
(AAL -3.4%)
(NCLH -23%)
(WYNN -11%)
(SIX -7%)
(IMAX -6.66%)
(URBN -11%)
Each position was equal weighted. I am bearish on bonds here and feel that if anything happens to the upside it will include the complete evisceration of bonds. This is not an easy market to be long and I feel for anyone who is losing money today. But don’t be fucking retards and believe in MAGA STEEL and the idea that the Coronavirus is less than the flu.
So last year 37,000 Americans died from the common Flu. It averages between 27,000 and 70,000 per year. Nothing is shut down, life & the economy go on. At this moment there are 546 confirmed cases of CoronaVirus, with 22 deaths. Think about that!
— Donald J. Trump (@realDonaldTrump) March 9, 2020
Saudi Arabia and Russia are arguing over the price and flow of oil. That, and the Fake News, is the reason for the market drop!
— Donald J. Trump (@realDonaldTrump) March 9, 2020
Looks like HYG is at 2018 lows and leveraged loan ETF SRLN new lows.
There is a much larger picture to consider here — the ramifications of $30 WTI and how it affects the 10 million crude jobs in America — 8% of GDP, and the states that are completely dependent upon them.
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This guy doesn’t believe in reality.
Ignorance is bliss.
Lots of folks here blaming Trump for Fed-enabled crack party. I remind you it started under the idiot Bush with the post 9/11 asset pump …and his Iraq War “funded” with $500 per taxpayer bribes, and continued with the smooth salesmanship of Obama; it was simply continued under the orange evangelist.
But for those beating on Trump for be uniquely stupid in how he is handling the virus – I agree.
I’ll have to remind millenails that it started under *Reagan* and continued under every President since.
Trump and the Republicans did make things a lot worse with their investor-biased tax cut.
The discussion is about the FED-ENABLED crack party. Do some research on Reagan’s Volker and get back to us.
Jimmy Carter appointed Volcker (not Volker). He put country before he political career.
*his
Yes, and his mother gave birth to him.
If he’s gonna take credit for ATHs, he’s gotta take the shit for record breaking drops.
Fly, if you are unsure of how to be positioned today, just ask alty. He really knows his stuff. After all he is actually a millionaire (he told me so), and totally didn’t inherit it.
Of course, he’s a pretty busy guy, so he probably won’t have an answer for you until sometime tomorrow. His ability to predict stock movements that already happened is truly uncanny.
Have I got that about right, alty?
Do you want to continue this internet pissing contest or act like a decent person? I’m game for either one, but it’s your call.
All my moves in the last 2 weeks are underwater. On 2/28 I sold some TLT and bought SCHA SCHX SCHG and SCHM with the proceeds. 3/3 I bought SCHK. 3/6 I bought SCHE and SCHF and sold a little more TLT. There’s another 4K or so in 401k purchases during that time frame that are also underwater. I’m a conditioned dip buyer and so I’m programmed to get destroyed in markets like this. ¯\_(?)_/¯
Yikes that shrug emoji didn’t turn out too well ::shrug::
Truce it is
I had $155-165 TLT Calls spreads – that expired late January worthless.
Also, XLF $30 puts that i kept rolling and finally closed out in February for a small loss.
Too much arrogance about being right. Should have just left everything in TMF, TLT, and FAZ.
Truce it is.
I’m looking for SPX 2700 today not even joking
getting there… it wants to go below LOD any time now…
March 9th, 2009. March 9th 2020?
What a wonderous and severe over-reaction today. To me the world needs a reset and here it is. It has been all too hot in markets, politics, spending and you name it; too easy and fake. We have been starved of a deleveraging opportunity for a very long time. Of course, I’ll be riding it through again.
I know some of you like to put everything in the same basket regardless of time, space situation and events. Must be complicated living in your brain. BUT… when the tea party was given the chance and luxury to walk the talk, they choose to fucking bend the knee.
Obama never pretended to be a market genius. He listened to the advisors he had at the time and did a fucking fabulous job at preventing financial armagedon. He had the fucking king bernanke the bearded helicopter giant. Now, let watch the anti statist, anti globalist and anti vaxxer fair against a global crisis of this proportion.
*eating popcorn*
Def got kernal for the quarantine