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14 minutes ago, bluto said:

While true no panic news necessarily, the states are starting to fall one by one on shelter in place calls. There’s just not any good news, and short of a chloroquine miracle I don’t expect there to be any good news for a while.

Just need one more nonsensical silly day of a bump to narrow a few losses then I cash out til it settles in the next few wks. Thinking stimulus might provide it but that’s just a band aid on a Bowie knife wound IMO.

So you're saying I should double my gamble

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I will read up on how to do this tonight but can someone explain to me like Im 12 how to put in a limit order? to buy XXX shares of SPY at 206. I dont want my first limit order to fuck up and buy a million shares of CHK. Unfortunately I am considered essential personnel and dont have the option to ever work from home regardless of what type of lock down there is. Unless you nerds dont want your meds...

 

My MM account is through vanguard

Edited by UTGrad98
Vanguard

US equity futures shit the end on the open.

2 minutes ago, UTGrad98 said:

I will read up on how to do this tonight but can someone explain to me like Im 12 how to put in a limit order? to buy XXX shares of SPY at 206. I dont want my first limit order to fuck up and buy a million shares of CHK. Unfortunately I am considered essential personnel and dont have the option to ever work from home regardless of what type of lock down there is. Unless you nerds dont want your meds...

Action: buy

Order type: limit

Timing: good until canceled

My commission: tree fiddy

 

 

4 minutes ago, Harrison Stafford said:

The rat bastards at Goldman Sachs predict -6% GDP for Q1 and -24% for Q2.  You can not invest in a market with -24% GDP with a global economy at a standstill.

Quote

...
Federal Reserve Bank of St. Louis President James Bullard predicted the U.S. unemployment rate may hit 30% in the second quarter because of shutdowns to combat the coronavirus, with an unprecedented 50% drop in gross domestic product.
...

https://www.bloomberg.com/news/articles/2020-03-22/fed-s-bullard-says-u-s-jobless-rate-may-soar-to-30-in-2q?srnd=premium

keanuwhoa.gif

13 minutes ago, Harrison Stafford said:

The rat bastards at Goldman Sachs predict -6% GDP for Q1 and -24% for Q2.  You can not invest in a market with -24% GDP with a global economy at a standstill.

The market has/is discounting that.  I have done well on a lot of trades taking the opposite of what Goldman states as their public stance.   Goldman’s goal is to take your money for the benefit of their clients and partners. 

8 minutes ago, 52-80 said:

Action: buy

Order type: limit

Timing: good until canceled

My commission: tree fiddy

 

 

You don't want to put in a buy limit order right now.

10 minutes ago, Thetexashammer said:

You don't want to put in a buy limit order right now.

But I do want my commission

The market has/is discounting that. 

 

That seems unlikely. You telling me the market in 2017 had an equally dire outlook when it was at these same levels?

 

There are clearly a huge number that still believe this is all a hoax and will blow over shortly, and their optimism is also factored in. I believe they’ll wake up to reality when people they know start losing jobs. When you lose them, the market will find the correct level, imo.

I’m not buying that bullsh on “the market has already priced that in”

Whatever the context, barring a significant therapeutic, we are headed lower this week.  Additional states quarantine, release of UI numbers and growing disenchantment with quarantines will stack up to bad news.

US equity futures shit the end on the open.
A thousand points down is just another day in 2020.

ETA
Down 5%. That's the limit, right? And trading is closed for the session? That bodes...poorly...for tomorrow.

Glad I held off on that SOXL position going into Friday's close.  That would not have been ideal.

Market reacting the politics being played with phase 3 of the stimulus

And I see the NYSE goes all-electronic tomorrow. Will that affect anything? Traders gotta consume cocaine in their bathroom at home?

18 minutes ago, bluto said:

I’m not buying that bullsh on “the market has already priced that in”

Apparently you didn’t get my point.  Has/is is an ongoing metric. It has discounted a major GDP drop, and is further discounting other items.  That’s how the shit works.  

1 hour ago, bluto said:

Just need one more nonsensical silly day of a bump to narrow a few losses then I cash out til it settles in the next few wks. Thinking stimulus might provide it but that’s just a band aid on a Bowie knife wound IMO.

youre-gonna-get-raped

-1000 is a decent day.  That’s where we are.  Oh, we only hit the breaker once?  
 

High Five

1 minute ago, Parliament said:

And I see the NYSE goes all-electronic tomorrow. Will that affect anything? Traders gotta consume cocaine in their bathroom at home?

From what I understand the floor traders have been mainly props for tourists for several years now.

1 minute ago, Fudge Nuggets said:

From what I understand the floor traders have been mainly props for tourists for several years now.

For CNBC/Bloomberg tv shots 

10 minutes ago, Fudge Nuggets said:

From what I understand the floor traders have been mainly props for tourists for several years now.

The pitch has been they add discretion and “human element” to the market.

I would advocate that there are positives and negatives to exclusively electronic trading.

Call me a old fart, but I like the idea of real people being involved. Skynet and such.

 

 

1 hour ago, Fudge Nuggets said:

Glad I held off on that SOXL position going into Friday's close.  That would not have been ideal.

Not that it matters, but I've been watching it from $300 down.  I will make the call when I jump back in, which by design will be past the (local) bottom, but I'll still have plenty of opportunity to get fucked beyond that.

I can't even begin to guess where tomorrow's close will be - but by all signs the first circuit breaker pops quickly.
Even if the Fed & Treasury roll out some stimulus, the virus market has been eating those stimulus packages and just burps on the way down.

I won't be surprised if we see the S&P cross 2,000 tomorrow (that just below the 2nd, 13% down, circuit breaker), there really nothing but bad news with more states sheltering, crisis in medical supply chain, and some location starting to talk about limited hospital beds (NY). The curve is not being flattened nearly enough at this time.

 

We'll peg the limit right at the open, take a break and it'll behave itself after that.  We'll close the day down 8%.  Sad that we call that "behaving" today.  Tuesday we'll be up some.  Just some.

Wally, thanks for the charts you've been posting, but I don't need it anymore.  I found a better tracking website that shows that kinda info on the go.  Thanks though.

So Utah’s 529 plan can take up to 3 days to re-distribute...we’ll be down another 15-20% by Wednesday’s close.

at this point with my 5 and 7 yo, I think I just keep it all in the age based aggressive option and hope that by the time they are 18 (in the early 2030s), we’re back at the level we were Feb 2020

3 minutes ago, UTexasFight said:

So Utah’s 529 plan can take up to 3 days to re-distribute...we’ll be down another 15-20% by Wednesday’s close.

at this point with my 5 and 7 yo, I think I just keep it all in the age based aggressive option and hope that by the time they are 18 (in the early 2030s), we’re back at the level we were Feb 2020

If you keep adding to it you’ll be well beyond by then.  

If you keep adding to it you’ll be well beyond by then.  

Right.
I’m talking about the principal I’ve contributed to date (which I started in 2018).
23 minutes ago, UTexasFight said:

BofA looking like the leader in the clubhouse!

80a762ed75610b97d19bdddb146da931.jpg

I have puts priced down to $150, not hoping to see that. But those will be worth a few bucks more in the next few days

5 minutes ago, UTexasFight said:


Right.
I’m talking about the principal I’ve contributed to date (which I started in 2018).

I hear ya man.  I was trying to be optimistic, even though I personally believe you’ll be in a better spot even on principal in 11 years. 

Stimulus package in Senate DOA. 
Market going to flip. 
Overnight trading holding just above limit down. So...win?
24 minutes ago, Parliament said:
1 hour ago, BrazilHorn said:
Stimulus package in Senate DOA. 
Market going to flip. 

Overnight trading holding just above limit down. So...win?

If that holds, I’ll take it. 

4 hours ago, Parliament said:

Call me a old fart, but I like the idea of real people being involved. Skynet and such.

 

 

you may be an old fart, but your idea of people being involved on a trade floor is a bit antiquated.  hft and prediction algorithms are a beast.

if you think you're playing chess, while others are playing checkers, then your're... thinking.  imo, i fully acknowledge i could not beat a computer at tic-tac toe, checkers, or chess.

Edited by Hmmm

Orders in at spy 206 204 202 and 200. If it just blows right past that then I guess my entry point was s and p 2000. Not sure if I will shut my eyes and hold no matter what or take profits if it bounces high enough.  I can't be a pussy forever. Been in all cash since April 2019 so I'm ahead of most. 

So Utah’s 529 plan can take up to 3 days to re-distribute...we’ll be down another 15-20% by Wednesday’s close.

 

at this point with my 5 and 7 yo, I think I just keep it all in the age based aggressive option and hope that by the time they are 18 (in the early 2030s), we’re back at the level we were Feb 2020

I'm in the same situation. I've contributed since they were born, but just recently really started ramping up. Figure I'll actually see some decent gains over the next several years now.

 

4 minutes ago, Trey3216 said:

And just like that, futures turn green 

Unreal.  I mean I'll take it, but this is just baffling.

Guess once it got going a big short squeeze started.

Fed continues to take decisive action

Fed gonna put the money printing machine into overdrive, good interview with Neel Kashkari (Minneapolis Fed Chairman, former assistant secretary of Treasury in-charge of TARP)

https://www.cbsnews.com/news/minneapolis-fed-chief-says-small-businesses-need-forgivable-loans-60-minutes-2020-03-22/

So does infinite support by the Fed staunch the virus eating through the market.....today will be another glimpse at that dymanic

I'm waiting for @bernorange with some insight and commentary

Edited by Wally Fairway

18 minutes ago, Wally Fairway said:

I'm waiting for @bernorange with some insight and commentary

 

 

Fed gonna put the money printing machine into overdrive, good interview with Neel Kashkari (Minneapolis Fed Chairman, former assistant secretary of Treasury in-charge of TARP)

https://www.cbsnews.com/news/minneapolis-fed-chief-says-small-businesses-need-forgivable-loans-60-minutes-2020-03-22/

 

 

Saw that last night

Was that really that insightful? (I mean, it definitely was if you haven’t been reading financial news the last couple of weeks... but if you have there was nothing new said there and came across to me as more of an Iraqi general “all is fine” puff piece trying to get people to avoid running to their banks.

What with the fed’s rate cutting, my son says the mega banks are trying to do a lot of account raiding with each other and the mid size banks like his regional system. He has been helping to organize a team to fight back and do the same. Very cutthroat stuff. His bank (not a full service bank) is doing well.

Edited by Armybrat

Even with the fed pumping, futures still only +1.1%

4 minutes ago, stone oak said:

Even with the fed pumping, futures still only +1.1%

Check that +0.5%

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