We were supposed to be ‘limit up’ but something went wrong from last night until now. That something is the X factor — when the fuck will business get back to normal? Who is going to backstop all of those payrolls?
NYC is talking about backstopping 40% of payroll and lending money to small businesses for zero percent rates up to $75k. The issue with that, they’ll need to issue munis for it and the climate for such an offering isn’t good. I do think something like that, but on a national level, is needed now. God help us if this lasts thru August.
The Guardian in the UK reported on a ‘secret note’ they read, which stated this could last until NEXT SPRING. Fuck me.
Watch European markets for a tell. We might still get a furious rally today, but we might also COLLAPSE under the weight of our own hubris.
I sold APRN which I bought yesterday for an overnight win of +71%, which places me in an excellent vantage point to exert some more risk here — feeling good about my prospects and luck now.
The algos are fucked. Trading desks do not know what to do. Be careful.
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The good news is,. if you hold equities now and keep adding.. it may never come back in your lifetime BUT it could very well be a generational wealth builder for your kids or their kids. You could be the grandpa or grandma that bought a ton of Ford, X, whatever.. which is garbage now but in 30 years is why your family is extremely wealthy. Looking further out than your own lifetime.
The sun is always shining were bambam lives. I like that
Thanks Eric! I’m just trying to see the potential silver lining to a bad situation.
Get outta here with that…
This system isn’t going to survive. Best strategy to protect yourselves and your loved ones now is to buy physical gold and silver.
Fly, if this corona thing doesn’t get any worse within the next couple of weeks, small business owners and their employees are going to begin to see through this charade and will start to revolt.
It is so obvious that this is an orchestrated take down of the global economy which will kill more people than COVID-19 ever would.
The virus has been in the US for a month, where’s the huge outbreak? Oh yeah, it’s coming…
I’ll be over here in my bunker waiting for it…
I have been saying that for a week, Market bottom I added money.
I say this is mass psychology at work, from arrogance, hubris, derision to fright& panic.
the layoffs have already started – retail, entertainment, etc. Wouldn’t be surprised if the unemployment rate surpasses 10% by May.
I bought Peloton at $18 bucks. The only stock in my portfolio not blown out.
Bottom in stocks, GS rules. A GS employee told my friend on March 6 a crash is coming. I thought 20% hair cut was enough, did not take any action then, but I added today. Elon is right hysteria unwarranted.
Next chance may an obligatory double bottom.
Damage is all psychological when all-clear signal is given people will go out and spend like drunken soldiers.
All humans, from low to high IQ extrapolate. But we also suffer from confirmation bias. So we fail to change input quickly when facts on the ground change.