Posted on 03/03/2020 7:08:49 AM PST by karpov
WASHINGTON—The Federal Reserve cut its benchmark rate by a half percentage point on Tuesday morning, delivering a booster shot to stem potential economic disruptions from the spreading coronavirus epidemic.
Tuesday’s cut, which lowered the federal-funds rate to a range between 1% and 1.25%, is the first to occur in between a scheduled policy meeting since the 2008 financial crisis.
The action was approved unanimously. In a statement, the central bank also held out the prospect for further stimulus. “The committee is closely monitoring developments and their implications for the economic outlook and will use its tools and act as appropriate to support the economy,” the statement said.
(Excerpt) Read more at wsj.com ...
Of the things I was watching none recovered but APT (mask maker) and TSLA (Bane of my existance Viper) . I dipped my toe in TSLA..which means I will get my head handed to me tomorrow. Maybe I will get lucky and it will gap up.
Nugt (gold) backed off its high.
Well that went over the market like a lead balloon.
Walter Bloomberg
@DeItaOne
MNUCHIN: NOT READY TO HALT TRADING ACTIVITY OVER CORONAVIRUS
(do not even discuss this is a possibility..options traders are going to freak)
Wow, the markets must have priced it in already. Bad day.
I thought China just said the pandemic was slowing down?
GOD you brought a PAINFUL memory back!!
I was 25 or 26.
I had bought 2,000 bucks worth of soybean options.
But I read a one paragraph blurb the next day saying they were likely to go down. I had Calls. I sold them.
Back to back FROSTS hit Brasil and DESTROYED the crops.
The market gapped up TWO DAYS IN A ROW!!
IT RIPPED my heart out.
That 2k would have been about 75k 2 days later.
I know clinton never meant it, but I do...
I feel your pain!!
It will be ok...they also priced in optimism that wasn’t supported by facts.
I once mentioned that I was trading soybeans to my parents. I didn’t say options so they probably assumed just soybean futures. The utter look of horror was kind of funny when I look back..but it hacked me off at the time.
They were sure I was going to go broke. For a long time they would say...Are you still trading soybeans like at any minute I would have to move in with them.
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