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Quote

Some of the world’s wealthiest people have sold more than $3 billion of stakes in their major holdings since August, diversifying their fortunes as stock markets rebounded. ...

... In the week ended Sept. 11, insiders disclosed selling $473 million of shares, while buying only about $9.5 million.
...

https://www.bloombergquint.com/business/super-rich-step-up-large-stock-sales-after-global-prices-surge

Smart money getting nervous about the future?

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27 minutes ago, bernorange said:

Smart money getting nervous about the future?

Profit taking off of an overly heated market, is more likely.

I don't how right this is, but Twitter was saying that for the first time in history, options volume exceeded stock volume in August. Usually it's around 40%. Crazy, if true. Also explains how insanely expensive options have been.

Just now, Eastwood said:

I don't how right this is, but Twitter was saying that for the first time in history, options volume exceeded stock volume in August. Usually it's around 40%. Crazy, if true. Also explains how insanely expensive options have been.

Newb investors are going to get FOCKED so hard. 

3 minutes ago, Eastwood said:

I don't how right this is, but Twitter was saying that for the first time in history, options volume exceeded stock volume in August. Usually it's around 40%. Crazy, if true. Also explains how insanely expensive options have been.

Robinhood has brought quite a large market of suckers into the market. I'm not sure of any other platform that so freely lets folks trade options

4 minutes ago, Eastwood said:

... For the first time in history, options volume exceeded stock volume in August. ...

gambling >>>> investing

Just now, Captainant said:

Robinhood has brought quite a large market of suckers into the market. I'm not sure of any other platform that so freely lets folks trade options

Not just freely, but without any guidance or resources. People come in with a basic understanding of margin and get their faces ripped off.

17 minutes ago, nycHorn said:

Ok who is holding NKLA puts?

probably noone.  the premium on that was rightfully insane

1 hour ago, 52-80 said:

probably noone.  the premium on that was rightfully insane

Pretty much. If anyone read that Hindenberg report, it was clear that there were some serious issues with how that company was run. How the fuck GM allowed themselves to get roped into this goat fuck is beyond me. I guess they can absorb whatever is left of NKLA and continue work on the gravity drive. 

On 9/18/2020 at 9:59 AM, bernorange said:

gambling >>>> investing

Selling insurance >>>>> gambling

18 minutes ago, Blotto said:

How the fuck GM allowed themselves to get roped into this goat fuck is beyond me.

GM board went full STONKS!

On 9/18/2020 at 9:00 AM, bernorange said:

Smart money getting nervous about the future?

Well that explains why I'm losing money - can someone link me an inside track to "smart money" 
(please don't be a link to /WSB)

2 hours ago, Blotto said:

How the fuck GM allowed themselves to get roped into this goat fuck is beyond me.

Because they've been caught flat footed by every fucking automotive trend in the past 30 years?  They're grasping at straws at this point and grabbed on the biggest one available that no one else was touching.

28 minutes ago, CooterBrown said:

Because they've been caught flat footed by every fucking automotive trend in the past 30 years?  They're grasping at straws at this point and grabbed on the biggest one available that no one else was touching.

Counterpoint: machine gun america GIF

On 9/18/2020 at 8:00 AM, bernorange said:

Smart money getting nervous about the future?

 

54 minutes ago, Wally Fairway said:

Well that explains why I'm losing money ...

It's rather eerie how well that post coincided with this morning's sell off.  Of course the article I referenced was describing a month long trend, so it wasn't intended to be predictive of this sell off, but I think it was indicative of the larger picture (political season chaos spooking markets).  Probably RBG's passing accelerated/enhanced the already existing political fears.  Interesting times and all...

1 minute ago, bernorange said:

 

It's rather eerie how well that post coincided with this morning's sell off.  Of course the article I referenced was describing a month long trend, so it wasn't intended to be predictive of this sell off, but I think it was indicative of the larger picture (political season chaos spooking markets).  Probably RBG's passing accelerated/enhanced the already existing political fears.  Interesting times and all...

Markets hate uncertainty. We are in the most extreme of uncertain times. Big Cigars have all flipped on us.

Yep.  FWIW:

Quote

Markets kicked off a new trading week in a risk-off mode, with the U.S. dollar rising, stocks selling off and gold prices plunging. It’s hard to point to just one single reason why this is happening, notes BBH Global Currency Strategy. “[There are] rising viral numbers in Europe, rising hard Brexit risks, softening recoveries in the major economies, rising political risk in the U.S., and a negative report on the global banking sector. Some of these drivers have been present for weeks, if not months, but the confluence of so many negative factors has been too much for equity markets to ignore,” says BBH. The big new political headline the markets are digesting is the death of Supreme Court Justice Ruth Bader Ginsburg on Friday, which is creating a lot of volatility. “The most direct impact is likely to be further delays in the stimulus package. Indeed, we think it has become less likely that a deal comes before the election, as the Republican-led Senate appears to be marshaling all its forces now into pushing through a replacement for Justice Ginsburg,” BBH writes. The U.S. dollar, in the meantime, is making gains with the DXY last trading at $93.60, up 0.73% on the day. “With so much uncertainty, no wonder the markets are taking some profits now and moving to the sidelines with 43 days left until the election.”

https://www.kitco.com/news/2020-09-21/Investors-are-taking-profits-off-the-table-as-election-uncertainty-looms-BBH.html

One article I read mid morning was saying that RBG's death has made the next round of stimulus dead in the water. Political powder is being kept dry for the coming fight over SCOTUS. Expecting a lot of volatility until after the election. Good thing all my calls are December and January and the rest is long.

Edit: I posted this right after the article above was posted, so yeah...

Edited by Eastwood

Just now, atomheartbevo said:

That's going to leave a mark for a lot of people and a lot of businesses.

Yeah, the Airlines are going to lay off everyone that hasn't already been sacked.

Fiscal Stimulus is dead in the water.

Imminent threat is fed govt. shutdown. Tentative deal was reached a few weeks ago. Bill introduced today but met with criticism. Add in European second wave + RBG and we have uncertainty with significant economic consequences. 

The Fed has continued to print but stated fiscal response is needed to maintain the markets. Remove the fiscal lever from the toolbox - we are reliant on duct tape.

image.png.c1bdcb444460d656a69b4c95cf7e8d04.png

Edited by washparkhorn

11 minutes ago, Cheeseweasel said:

Yeah, the Airlines are going to lay off everyone that hasn't already been sacked.

I'm also thinking a lot of retailers are going to be concerned about this little holiday period coming up.

Counting bonds the portfolio is down 50 BPS on the year.  I guess I really want to rotate my 40% bonds to equities so I wait for a bigger pullback and do that.  That’s counting the stupid shit I’ve done with STONKS.  NKLA anyone?!

45 minutes ago, atomheartbevo said:

I'm also thinking a lot of retailers are going to be concerned about this little holiday period coming up.

I'm surprised this isn't getting more play. Rice Village in Houston (old school, no big box shopping center in a very nice part of town) is an absolute ghost town these days. Any retailer that's not Walmart or Target has got to be getting crushed right now, and no further stimulus sure ain't gonna help.

Edited by tokamak

1 minute ago, tokamak said:

Any retailer that's not Walmart or Target has got to be getting crushed right now,

It's a feature, not a bug.

4 hours ago, CooterBrown said:

Because they've been caught flat footed by every fucking automotive trend in the past 30 years?  They're grasping at straws at this point and grabbed on the biggest one available that no one else was touching.

Tough to be 'The Heartbeat of America' with all the obesity, myocarditis, high blood pressure, and diabeeetus.   

all GM needs is to release the Hummer H4

On 9/16/2020 at 3:29 PM, washparkhorn said:

Wall Street has not fathomed the failing foundation of the economy - yet.

They’re going to fathom the failing of their economy if cap gains taxes go anywhere near the 40% Biden is proposing.  No CR, I’m voting for him.  Just an observation.  

On 9/1/2020 at 9:24 AM, BevoSwag said:

Fair Warning To Surly Viewers:  I've started dabbling in small buys in the market today.  Beware of the impending crash.

Ok.  today I've sold out those losers I starting dabbling in so be warned.  The market is probably going to rise 15% during the rest of September. 

1 hour ago, Cheeseweasel said:

It's a feature, not a bug.

Eh.

TJMax and it’s loyal followers of maxxinistas seem to be doing ok per the wife.

1 minute ago, Dnaguy said:

Eh.

TJMax and it’s loyal followers of maxxinistas seem to be doing ok per the wife.

I own that stock. It took a beating today. Give you wife more money!!!

1 hour ago, 52-80 said:

all GM needs is to release the Hummer H4

If they treat it like they did the Blazer, it'll be a 2 cylinder hatchback. 

HSBC busted in major money laundering, including for DPRK

 

Im gonna bet about... 1 brazillion dollars that Deutsche Bank was in on the act, too

Just now, 52-80 said:

HSBC busted in major money laundering, including for DPRK

 

Im gonna bet about... 1 brazillion dollars that Deutsche Bank was in on the act, too

aca808339d3ed7431c2a599178ba527f.jpg

57 minutes ago, Cheeseweasel said:

I own that stock. It took a beating today. Give you wife more money!!!

I meant the actual fundamentals of the company and not the STONK price.

will ferrell laughing GIF
I know. Fundamentals are for Beta cucks.

16 minutes ago, 52-80 said:

HSBC busted in major money laundering, including for DPRK

 

Im gonna bet about... 1 brazillion dollars that Deutsche Bank was in on the act, too

Weren’t they also laundering money for the cartels too back in the Panama papers?!

Fucking A man. It’s almost as if banks only make money if they do shady shit.

Maybe we should deregulate them some more so they can get their act together.

4 minutes ago, Fudge Nuggets said:

bo7qwggu40i51.jpg

Buffett's pretty much been face down ass up this year, right?

We had some peeps from the purchasing dept of a fortune 500 company conference call us to beg for a discount on their annual bill for a software license.  They were emotionally distraught.  The company is deep in the red this year and they are having to slash budgets, jobs, etc.  2020 is ass.

8 hours ago, bernorange said:

We had some peeps from the purchasing dept of a fortune 500 company conference call us to beg for a discount on their annual bill for a software license.  They were emotionally distraught.  The company is deep in the red this year and they are having to slash budgets, jobs, etc.  2020 is ass.

Come on man, spill it.  If we can't get our insider trading freak on here, where can we?

8 hours ago, bernorange said:

We had some peeps from the purchasing dept of a fortune 500 company conference call us to beg for a discount on their annual bill for a software license.  They were emotionally distraught.  The company is deep in the red this year and they are having to slash budgets, jobs, etc.  2020 is ass.

Please tell me your response was "Fuck you pay me"

Please tell me your response was "Fuck you pay me"

If he held true to form for a software company, he responded with a 15-20% price hike.

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