Posted on 03/09/2020 6:42:43 AM PDT by rstrahan
Ok, watching the news, etc. second circuit breaker hit at a 7+% drop in the DOW. Trading halted. Oil collapsed 30% overnight. There is a potential of a major collapse today. Fed is increasing money into the economy this am. If you are still in stocks, be very careful. Now, there is a worry that the next breaker at 13% drop in the DOW could be hit.
All of this over coronavirus.
Now a bit of good news, Texas firm says they have a vaccine, but still has to get through FDA testing.
Just hang on, it’s gonna be a rough week.
I disagree. More testing/larger numbers will drive the mortality rates down. In reality they are probably slightly elevated from a severe flu. Not the insane 4-5% numbers that have been bandied about in the media. But you can’t do that math without an accurate denominator, and for that you need data.
Easy there, cowboy, the ride up will be a doozy!.......................
Aughhh this is bad, terrible no, devastating!
My wife handed me our little dog to take outside and I knocked my coffee over, it hit the floor spilling every drop.
just awful, what a terrible waste!
This is only temporary. The ‘market’ will recover quickly. What you are seeing is bottom feeders taking profits and scurrying back under their rocks...................
Well, I did spy a gas price of $1.99 yesterday (N Alabama).
It’s not so much panic, but mass anticipation of panic in others. We all watched panicked people buying toilet paper in the media, so it’s natural to stock up to avoid the induced ‘shortage’.
Dunno about 10,000 down but yeah - it’s got a ways to go.
https://www.marketwatch.com/investing/index/djia/charts
I bailed on all of my VXX calls right before the stop. Then I moved them out and changed to puts. Herpes lasts forever. Volatility doesn’t.
Yup, a convenient excuse to cash some chips.
Then I would keep up the pace. When my wife gets a 3% raise, 1% goes into the 403 b. It has to drop a lot before we lose the tax benefits.
And it is clear that the administration NEEDS the market to be up.
The one thing the market hates more than anything is uncertainty.
Eventually we’ll figure this thing out, and markets will recover.
“Now a bit of good news, Texas firm says they have a vaccine, but still has to get through FDA testing.”
That company has been saying they’ve got a vaccine since about 2-20-20. Any updates?
I’m buying Exxon Mobil, off 40%; Carnival Cruises off 50%.; AMC Theaters off 50%
This is my conspiracy theory for the day. They are trying to eliminate the elderly, first by the virus itself and secondly destroy what little money we have.
In the history books they can write that Trump had the worst stock market crash in years and not citing the reason.
“A tremendous amount of testing is required to make sure the cure isn’t worse than the disease. There is still no truly effective SARS vaccine, 17 years after the 2003 outbreak”
There is anti viral phase III testing going on such as Gilead’s Remdesivir. So safety and efficacy have been established. These are extrodinary times, Congress needs to act to get these drugs out there sooner not later as current FDA protocol dictates.
You deserve credit for that straightforward comment. Many here will not appreciate it, but it’s true nonetheless.
The market is the world’s biggest casino. No matter how much lip gloss is applied to a pig, in the end it’s still a pig.
What’s interesting to note is: what did those companies do with their hundreds of billions in tax cuts when the rate was slashed from 35% to 21%? Pay down corporate debt? No. Answer: stock buy backs...of course. Feathering one’s own nest is always a good thing, right?
Folks had a chance to sit around all weekend and listen to the news Of doomsday and have the snot scared out of them!
Yup and launching the virus in China was a false flag. Impeachment didn’t work so we are on Plan C now
It’s not so much panic, but mass anticipation of panic in others. We all watched panicked people buying toilet paper in the media, so it’s natural to stock up to avoid the induced ‘shortage’.
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BINGO!
“Investing” in the stock market is a highly stylized and ritualized from of gambling or gaming if you will.
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