djAdvocate
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Post by djAdvocate on Mar 16, 2020 1:16:11 GMT -5
dow futures are off 1000 points. Australia is off 4% Japan was up earlier, but is now off 2.6% India is -5.2%
not looking good for opening tomorrow.
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djAdvocate
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Post by djAdvocate on Mar 16, 2020 2:24:37 GMT -5
watching the debate. update:
Nikkei closed -2.5% Sensex -5% Shanghai closed -3.4%
these numbers are not that bad, considering.
the European futures are showing quite a bit lower than the best of these. and the US futures are showing worse than all of them.
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djAdvocate
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Post by djAdvocate on Mar 16, 2020 3:11:36 GMT -5
final update: European stock markets all opened 4-5% lower. expect the US markets to do the same.
cutting rates to 0% is a bad impulse, and gives the Fed no future leverage. hold a good thought going forward.
expect Gold and Treasuries to do well tomorrow.
good night.
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deminmaine
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Post by deminmaine on Mar 16, 2020 4:37:58 GMT -5
final update: European stock markets all opened 4-5% lower. expect the US markets to do the same.
cutting rates to 0% is a bad impulse, and gives the Fed no future leverage.hold a good thought going forward. expect Gold and Treasuries to do well tomorrow. good night. Some of us (including you) have said for the last three years that when times are good we should be raising rates back up to normal levels, cutting the deficit, NOT cutting taxes, and basically getting our fiscal house in order during these good economic times. The stable genius did the opposite. Now we have fewer tools to deal with a severe challenge to the economy. I am happier than ever that I sold the plant. That is MY good thought going forward. I just hope it still goes through!
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Post by Deleted on Mar 16, 2020 10:55:50 GMT -5
Currently -7.16%
Making America great again, I see...
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djAdvocate
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Post by djAdvocate on Mar 16, 2020 13:12:55 GMT -5
Currently -7.16% Making America great again, I see... I still don't think we are nearing capitulation.
last Friday's "sucker rally" is clear evidence that people out there still think there are bargains to be had.
in order for this to end, people have to GIVE UP. no bounce. huge volume. everyone selling.
until we see that, this thing keeps falling. and no amount of "the stock market looks good right now" by Trump OR ANYONE ELSE changes it.
NOTE: he got his wish this weekend. Fed cut rates to zero. guess what? it doesn't matter. our economy is demand driven, not supply driven, you dumbass. I guess they didn't teach that to you at Wharthogs.
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Deleted
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Post by Deleted on Mar 16, 2020 14:16:01 GMT -5
They'll have another presser today if they haven't already, and trump will blame the Fed for not cutting it sooner. Or something. Whatever comes to what's left of his stable-genius mind.
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happyhoix
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Post by happyhoix on Mar 16, 2020 14:17:04 GMT -5
Currently -7.16% Making America great again, I see... I still don't think we are nearing capitulation.
last Friday's "sucker rally" is clear evidence that people out there still think there are bargains to be had.
in order for this to end, people have to GIVE UP. no bounce. huge volume. everyone selling.
until we see that, this thing keeps falling. and no amount of "the stock market looks good right now" by Trump OR ANYONE ELSE changes it.
NOTE: he got his wish this weekend. Fed cut rates to zero. guess what? it doesn't matter. our economy is demand driven, not supply driven, you dumbass. I guess they didn't teach that to you at Wharthogs.
I bet they did teach it. But it’s hard to teach someone who already believes he knows everything he needs to know. Remember how trump had Cohen call up his alma maters during the last election and threaten them not to disclose his grades? Seems like a long time ago now.
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steff
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Post by steff on Mar 16, 2020 15:06:05 GMT -5
Closed at -2999.10 -12.94% Largest single day drop IN HISTORY for Nasdaq
He opens his mouth & tanks the market every single time. When he began this presser it was at -800, closed at -2,999.10. He's still talking & thankfully the market closed before he made it drop more.
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Post by Deleted on Mar 16, 2020 15:22:55 GMT -5
steff That's what I thought, too...if he'd just keep his mouth shut, not even appear, just let the doctors do the talking and answer the questions. Did anybody notice that he glossed over the questions about Nunes' bright idea about going out?
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Gardening Grandma
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Post by Gardening Grandma on Mar 16, 2020 15:29:57 GMT -5
Closed at -2999.10 -12.94% Largest single day drop IN HISTORY for Nasdaq
He opens his mouth & tanks the market every single time. When he began this presser it was at -800, closed at -2,999.10. He's still talking & thankfully the market closed before he made it drop more.
It was the BEST drop!! It was PERFECT!!! BIGGEST in history!! MAGA!!!
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Tennesseer
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Post by Tennesseer on Mar 16, 2020 15:40:52 GMT -5
We got MAGAed today by the stock market.
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Tennesseer
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Post by Tennesseer on Mar 16, 2020 15:43:23 GMT -5
Down Jones began its final plunge of the day a few seconds after trump began his coronavirus update on TV.
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djAdvocate
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Post by djAdvocate on Mar 16, 2020 15:45:07 GMT -5
again, our next major support is 16k.
good luck, everyone.
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dondub
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Post by dondub on Mar 16, 2020 17:37:19 GMT -5
again, our next major support is 16k. good luck, everyone. Where’s the buying point?😎🤑
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djAdvocate
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Post by djAdvocate on Mar 16, 2020 18:44:58 GMT -5
again, our next major support is 16k. good luck, everyone. Where’s the buying point?😎🤑 I will start going in at 16k, and I would be all in when PE's fall below 10. as of today, that would be about 12k.
not saying it will go there. it probably won't. and I probably won't go all in.
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Deleted
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Post by Deleted on Mar 16, 2020 19:04:07 GMT -5
Where’s the buying point?😎🤑 I will start going in at 16k, and I would be all in when PE's fall below 10. as of today, that would be about 12k.
not saying it will go there. it probably won't. and I probably won't go all in.
I have no clue where to call the bottom, in Sep I went to cash/bonds and planned to get back in when it lost 20%, well I'm at 22% as of close today. I think now I'll wait until it is down 40% from when I sold and I'm also going to be tempted to buy some specific stocks that have cratered. My stock position I sold out of was solely in VT, Vanguard Total World so I only missed out on 8% gains from Sep to Dec. I know a couple people that made out very very well in 08/09 and I was jealous I didn't have the money then to do something with that significant drop.
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djAdvocate
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Post by djAdvocate on Mar 16, 2020 19:10:06 GMT -5
for the record, I am not predicting. I am in for the ride.
I took the question as "when would you come out of cash", and that was my response.
it might turn around TOMORROW, but why would it?
again: never fight a trend. selling stocks that are wildly climbing is just as dumb as buying when they are precipitously dropping.
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djAdvocate
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Post by djAdvocate on Mar 16, 2020 23:50:32 GMT -5
the Nikkei is basically unchanged, and Australia's All Ordinaries is sharply higher.
today looked like capitulation to me. the last hour was absolute panic.
I would not be surprised if the market bounced back tomorrow.
the current resistance is 21,700 or so. if the market rebounds above that, we might have our bottom.
this is all highly speculative, of course. it is not like COVID19 is going away, although there is encouraging news out of China, South Korea, and India.
EDIT: Australia ended up 5.4%, which nearly erased yesterday's loss. the Nikkei finished unchanged. Shanghai was -0.8% Sensex (India) is higher, but not as high as it was earlier in the day. Dow futures are showing +1000. the European markets don't open for another 30 minutes, and I am not waiting up for them. in any case, tomorrow looks hopeful.
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djAdvocate
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Post by djAdvocate on Mar 17, 2020 2:52:34 GMT -5
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djAdvocate
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Post by djAdvocate on Mar 17, 2020 2:59:39 GMT -5
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Post by kadee79 on Mar 17, 2020 14:39:13 GMT -5
that should be sometime after November, asshat. you can watch it from your gold plated toilet in Trump Tower. He is no longer a resident of NY...so let him watch it as he treads water at Mar-a-Lago.
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djAdvocate
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Post by djAdvocate on Mar 18, 2020 1:25:20 GMT -5
Austrialia -6% Hong Kong - 2.7% (it was unchanged in the morning session, but falling this afternoon) Sensex is -2.6% in early trading
this looks not very good.
futures market is -4% for US equities. also not good. expect more trouble early tomorrow.
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deminmaine
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Post by deminmaine on Mar 18, 2020 6:32:17 GMT -5
Futures just hit trade cut off limit. Gonna be a tough start to the day.
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Post by Wisconsin Beth on Mar 18, 2020 9:55:34 GMT -5
Trump gutted the pandemic response team at the CDC. The one Obama funded. Seem like a good idea to you. As I said, he may not have made it better, but there were things he did to make it worse mostly he is making it worse by being constitutionally incapable of dealing with crisis. some people are like that. when confronted with a crisis, they retreat to their comfort zone, which in his case is bragging about his travel bans. This is so true. A couple of months ago, my DH was panicking over something and then yelled at me for not panicking with him. Well SOMEONE has to remain calm and controlled.
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OldCoyote
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Post by OldCoyote on Mar 18, 2020 10:35:47 GMT -5
I would not be surprised if it went below the 2008 mark! There is nothing happening at this point that is good.
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Post by bean29 on Mar 18, 2020 10:42:19 GMT -5
I would not be surprised if it went below the 2008 mark! There is nothing happening at this point that is good.
I liked this because I this is exactly my thought - not that I am glad it is happening. I think this is going to be every bit as bad as 2008, in fact I think this situation is worse.
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Tennesseer
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Post by Tennesseer on Mar 18, 2020 10:45:12 GMT -5
Industries already asking for bailouts. For those who faulted Obama for the bailouts due to the great recession (Bush actually approved then), get ready for the on trump.
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djAdvocate
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Post by djAdvocate on Mar 18, 2020 11:06:09 GMT -5
Industries already asking for bailouts. For those who faulted Obama for the bailouts due to the great recession (Bush actually approved then), get ready for the on trump. $1.2T in funding for businesses and individuals.
Trump's tax cuts cost the treasury $2.3T. if he had put it in a "rainy day fund" rather than giving it away......
but now he will have to borrow it, which will weaken the dollar, increase inflation and we will have to repay it later. basically, he gave away the farm, and now we have to borrow to pay the rent, and we are billing it to our grandkids.
they are going to curse us. with some justification.
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dondub
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Post by dondub on Mar 18, 2020 11:24:02 GMT -5
The Repo-Cons con now on full display as to negative ramifications of making the rich richer. Thank God Amazon didn’t need that tax break.😳
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