Markets closed at session lows, down more than 2,300 points. Everything was massacred, aside from the tanker stocks I was hiding in. See pal, that’s what I’m all about — hiding inside oil tankers (VLCCs) whilst the world burns. Why hide inside said tankers?
BECAUSE OF THIS!
There are two types of people in this world, those who hide inside oil tankers and those who don’t. While all of this nonsense is occurring inside of the oil space, House of Saud is securing all of the VLCCs money can buy. The day rates for such vessels now fetch for $265k per day, up from $18k on Friday.
I own DHT and FRO, which paid out a 40 cent dividend today and was up. My other trades were an overnighter on FAZ +34% and then another 7.5% later on for good measure. All in all, 75-80% cash at all times during this debacle, an extreme gentleman of utmost candor and ferocity. You cannot supplant me, and never overtake me. Le Fly is everlasting and supreme.
Do you want to see what the carnage was like on this day (I am now speaking to readers of a future generation)? Here goes.
It’s over. Massive bailouts are needed to fend off the burn. The burn will either be absorbed by government or markets will close. Because of the severity of this situation, as evidenced by today’s bloodshed, I went long a little into the bell.
All trades and real time thoughts will be shared, as always, inside of the hallowed halls of Exodus.
BTW: My chief concern now is functionality of the treasury markets. Yields should be sinking, not rising, which means there is something going very wrong in treasuries. My guess, companies with cash and treasuries are in need to liquidity and are actively selling, WORLDWIDE. Treasuries have been a place of safety for decades. Well, we have a global crisis now, so that’s why the Fed is stepping in with QE to absorb the blows they knew were coming.
The most humorous part of today’s massacre was seeing JNUG off by 64%. Gold bugs really thought they were going to make it.
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“There are two types of people in this world, those who hide inside oil tankers and those who don’t.” – this is why we continue to come here after all these years.
Haha
crypto, gold and guns to protect yourself from nuclear zombie armageddon…
Idiot. Toilet paper is in higher demand than all 3 of those asset classes.
I’ll believe a deal for funding a fiscal response when I see it. If we get one I predict that it will be too small and does very little for ordinary people. And takes to long to get signed.
……………….what’s gonna be the first
……………….credit event
……………….where’s the first
……………….blowup gonna come from
……………….or liquidity
……………….bankruptcy
……………….casuality
(extra Joker laugh)
SHOWTIME IS CAPTAIN!
Congrats bro
Tips hat
Wave3 down we’re there
AH ugly. good lord.
I like the panic of 2020 much better than the crash of 2008. To ice the cake, many of these so-called “Christians” will fucking die.
Karma never tasted so good.
Raising the black flag twice in one day! Is that allowed?
That’s a different black flag. That one is on a FVULCC class oil tanker.
FVULCC stands for Fucking Very Ultra Large Crude Carrier
Good eye
This is the worst sell-off I’ve ever seen. I don’t remember the Asian financial crisis, LTCM, internet stock bubble, 9/11 or 2008 mortgage crisis being this bad. The financial system is aflame.
All of those events still had a frame of reference that they could be judged by. People are just getting their arms around the economic impact of a large part of the civilized world shutting down.
extreme number of people on one side of the boat
>> On October 24, 1929, “BLACK THURSDAY,” this massive sell-a-thon began. By the late afternoon, wealthy financiers like J.P. Morgan pooled their resources and began to buy stocks in the hopes of reversing the trend.
>> But the bottom fell out of the market on Tuesday, October 29. A record 16 million shares were exchanged for smaller and smaller values as the day progressed. For some stocks, no buyers could be found at any price. By the end of the day, panic had erupted, and the next few weeks continued the downward spiral. In a matter of ten short weeks the value of the entire market was cut in half. Suicide and despair swept the investing classes of America.
Good historical posts!
Day Date Open Close Percent Change Number of Shares
Black Thursday Oct 24 305.85 299.47 -2% 12,894,650
Friday Oct 25 299.47 301.22 1% 6,000,000
Saturday Oct 26 301.22 298.97 -1%
Black Monday Oct 28 298.97 260.64 -13% 9,250,000
Black Tuesday Oct 29 260.64 230.07 -12% 16,410,000
Top 5 Daily Percentage Drops
1 1987-10-19 1,738.74 ?508.00 ?22.61
2 1929-10-28 260.64 ?38.33 ?12.82
3 1929-10-29 230.07 ?30.57 ?11.73
4 2020-03-12 21,200.62 ?2,352.60 ?9.99
5 1929-11-06 232.13 ?25.55 ?9.92
2020-03-16 ?_______?
extreme number of people on one side of the boat
Just shut down the market for 2 weeks already.
Bravo Fly. Sitting 100% cash. I’m letting younger men fight it out. Waiting for Charlie and Warren to start buying in size.
down 9.99 percent is that the new 666?
I stepped on a lit stick of crypto dynamite first thing as I woke up this morning! FUCK THAT SHIT! God damn it. Mostly cash now looking for an angle. Looks like waiting it out is the way. Most people just starting taking it seriously when Tom Hanks got it.
Seattle has closed all school until April 24 this is progress. Once we start making bold moves confidence will firm up
Problem is imo all these people about to retire are shitting their pants now and panic selling. They don’t have time for another 10 year recovery.
Good news/bad news: many of the baby boomers won’t need thier IRA…
At this point they might have to start talking about a worldwide debt pile to pay all company payrolls for 3 months and just forgive it due to force majeure… free money for everyone!!!