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.
The country prospers on low oil prices. Layoffs in the oilfield have always only been regionally consequential. They are hardly a blip on the employment in the rest of the country.
More suffering for states like Oklahoma, New Mesico that can’t manage their spending and blow every windfall they get. Oklahoma is already out turning citizens upside down and shaking them down.
When this passes, God only knows now. It has taken at least three years to dig out of every market hole in the last hundred years. I would like this to be a v-bottom but it has gone too far, too much confidence lost, too much panic and fear.
We are all being played. Big-time.
1920/21 Depression
This is CLASSIC George Soros roil the market and then cash in by selling short and scooping up bargains.
It’s the perfect time to dump money into your 401k. Let your fund work and diversify in a down market- it will pay off greatly in years to come.
I wonder how many of them sold stocks, etc prior to this coronovirus circulating?
The algos know supply chain disruption and what that means to the market movers - and they also know the impact of a <.5 TNX and plunging Treasury yields all around. It ain't good.
Makes sense that it’s largely a manufactured panic when you consider that H1N1 killed 12,000 Americans on Obama’s watch and was hardly a blip on the media/economic radar.
I think there is panic in the retail realm, but the actual people running the market are picking their re-entry points.
One single piece of good news will send the markets along their merry ways. Probably less than a month, May at the latest.
China is about six weeks ahead of us. Once the come back on line in full you will see the oil market resume.
I have a sincere question that I would like you to honestly answer.
I had an Asian dry coughing from lower chest all over me yesterday.
Besides all of the psychological emotions I am going through at this witch for having done it...I now had to consider what to do.
I decided to self quarantine.
And now I AM getting sick.
Could be a cold...and or could be WUHAN...don’t know.
WOuld you want me coughing all over you?
And if I did..knowing I MIGHT have Wuhan...would you be concerned.
Many will regret selling stocks at or near the bottom. If things are as bad as the alarmists say they are, the stock market decline is the least of their problems.
and btw, one of the big psychological things I am experiencing is..WTF??? I read these virus threads..WTH was I thinking....I almost blew up at that lady but left..
but why did I even put myself in that position.
So you guys can laugh all you want at people on the virus thread..but this stuff gets real when it happens to you.
And I have plenty of TP
I agree with you.
The sheep herded this morning. They will rush back in a second. If you believe that..you can profit from it. The market always overreacts both ways.
I doubt we wend the day down 1,000. Not great, but not horrible.
Expectations “should be” for thousands of cases by the end of the week. That should not impact the market unless plants are closed.
I think their analysis is spot-on; this is a move by the Saudis to force Russia’s hand on oil production and crush American frackers. The Saudis can (reportedly) make money on oil, even when it’s trading at $10-20 a barrel; our shale producers need a price in the $50-60 range to turn a profit.
Near-term good news: Russia’s military modernization drive will take a huge hit and Iran won’t be shopping for a lot of new military hardware. Bad news? Both might be tempted to “do something” to distract from the economic pain and drive up oil prices.
That's the way I see it. Might as well stay in and ride it out. You only lose when you sell.
More than likely, 10 months...
There’s only more cases because we’re finally testing for them. The cases have been out there. So there’s really no way to know how much this thing is growing.
There ya go, clouding the issue with common sense and logic.
SHEEEESH......
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