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Saying futures pointing to a 1300pt drop in Dow this morning. S&P pointing to 5% drop.
 
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Not a time to buy just yet. Although 3M stock is looking a whole lot better these days.
 

So far, I have lost around 10%, not too bad. Today, whoo boy!
 


This is going to be a huge opportunity when this baby finally bottoms out.

The overriding bummer is that this bug is on pace to trigger a global recession.
 


Bad Gopher said:
This is going to be a huge opportunity when this baby finally bottoms out.

The overriding bummer is that this bug is on pace to trigger a global recession.
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But it will bounce back. That's guaranteed. It won't wipe us out, we'll build it back.

Eventually. It's just a matter of if you have time to wait for the bounce or not.
 



^^^ biggest troll on OTB, trying to sprinkle his pixie farts dust
 



Gentle reminder, the reason the stores are empty is because of anti price gouging laws. But at least there's no profits.
 


Looks like we broke 24 again. Do I hear 23???
 

MplsGopher said:
Looks like we broke 24 again. Do I hear 23???
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It's coming. I can't handle all the winning. Dropping 2,000 points in one day. Trump continues to do things we've never seen before.
 



howeda7 said:
It's coming. I can't handle all the winning. Dropping 2,000 points in one day. Trump continues to do things we've never seen before.
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Singularly responsible for the coronavirus outbreak and OPEC, great call. Up to 100 posts of rage yet today?
 

The temptation to slow down my debt snowball in favor of throwing more money in investment accounts is growing. Oh dear.
 

The Trumpster Party has found the solution to Carona Virus and the faltering economy: Tax cuts and bigger deficits! They solve all ills.
 

I am frankly not too worried about whose fault this is. I do think the media is having a field day with this. But whatever. It's a buying opportunity... big time. Undervaluation, based on current levels of hysteria that will pass in a few months. BUY.
 

everything I've read suggests that the big market drop on Monday was much more related to crude oil prices than corona. Russia and the Saudis are fighting for control of the oil markets - and in the process, this hurts the US by making their shale oil production less profitable.

Some analysts are saying Russia is pushing this to get back at the US for trying to impose sanctions on a big Russian oil company.

The only upside is that this will lead to lower gas prices in the US - maybe down to $2.15 a gallon in about six weeks, so US consumers will have some more disposable income to spend on other things.
 

The payroll tax cut is such a dumb answer. It won't help if you lose your job, and it won't help the economy if you won't leave your house. Guarantee paid leave, even if only temporarily, so sick people won't go to work.
 

People thinking this rebound will be quicker because people have been saving money at a higher rate than previous.
People aren't stretched as thinly so more people will be able to buy on the dips.
 

Dow is still on a roller-coaster. Shortly after opening for trading today (tues) the Dow was up by about 900 points. Then, it dropped 1,000 points over the next two hours before rallying somewhat.

Apparently, part of the drop is being attributed to media reports that White House Staffers said they had no idea what Trump was talking about with the payroll tax cut. Allegedly, the staffers are saying that Trump floated that out as a trial balloon without discussing it with the staff first.

also saw this in a business story from London on the world Economy:

Joachim Fels, global economic advisor at PIMCO, told clients on Sunday that he now sees a "distinct possibility" of a recession in the United States and Europe during the first half of the year, followed by a recovery in the second half. Japan, he said, "is very likely already in recession."
"In our view, the worst for the economy is still to come over the next several months," Fels said.
 

short ornery norwegian said:
Dow is still on a roller-coaster. Shortly after opening for trading today (tues) the Dow was up by about 900 points. Then, it dropped 1,000 points over the next two hours before rallying somewhat.

Apparently, part of the drop is being attributed to media reports that White House Staffers said they had no idea what Trump was talking about with the payroll tax cut. Allegedly, the staffers are saying that Trump floated that out as a trial balloon without discussing it with the staff first.

also saw this in a business story from London on the world Economy:

Joachim Fels, global economic advisor at PIMCO, told clients on Sunday that he now sees a "distinct possibility" of a recession in the United States and Europe during the first half of the year, followed by a recovery in the second half. Japan, he said, "is very likely already in recession."
"In our view, the worst for the economy is still to come over the next several months," Fels said.
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Who could have foreseen the media running with unsubstantiated reports about things anonymous white house staffers are saying.
 


Bad Gopher said:
??? Trump himself said it out loud.
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"part of the drop is being attributed to media reports that White House Staffers said they had no idea what Trump was talking about with the payroll tax cut. "
 

Pretty solidly in the 24.5 area.

Just like the end of last week we were pretty solid in the 25.5. Then suddenly bad news and it shot down.

It's gonna come in chunks as major bad news hits. Let's see if Trump admin tries to censor the news.
 


short ornery norwegian said:
everything I've read suggests that the big market drop on Monday was much more related to crude oil prices than corona. Russia and the Saudis are fighting for control of the oil markets - and in the process, this hurts the US by making their shale oil production less profitable.

Some analysts are saying Russia is pushing this to get back at the US for trying to impose sanctions on a big Russian oil company.

The only upside is that this will lead to lower gas prices in the US - maybe down to $2.15 a gallon in about six weeks, so US consumers will have some more disposable income to spend on other things.
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If the price of gas hits $2.15 I’m a gonna start driving everywhere I can.
 

MplsGopher said:
Pretty solidly in the 24.5 area.

Just like the end of last week we were pretty solid in the 25.5. Then suddenly bad news and it shot down.

It's gonna come in chunks as major bad news hits. Let's see if Trump admin tries to censor the news.
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The governor of Ohio just issued a statement that all indoor sporting events are to be held with essential personnel only. This impacts things like the MAC tournament and the First Four next week in Dayton, Cavs games etc. This is only the start. I'm not sure it stays above 20K at this point.
 



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