abenjami Posted March 12, 2020 Author Report Share Posted March 12, 2020 Futures were down a bit again after the market closed. Then Trump announced a ban on European travel for the next 30 days. Futures starting to talk hard tonight. I'd bet my left nut Trump had his buddies sell, sell, sell today before making a planned announcement after the market closed. Link to post Share on other sites More sharing options...
OILERMAN Posted March 12, 2020 Report Share Posted March 12, 2020 1 minute ago, abenjami said: I'd bet my left nut Trump had his buddies sell, sell, sell today before making a planned announcement after the market closed. Oh we'll def find out after the fact there was so much market manipulation and insider trading Link to post Share on other sites More sharing options...
abenjami Posted March 12, 2020 Author Report Share Posted March 12, 2020 NBA suspends its season! We might get under 20k tomorrow. Link to post Share on other sites More sharing options...
Jamalisms Posted March 12, 2020 Report Share Posted March 12, 2020 Futures currently down 4-5%. abenjami 1 Link to post Share on other sites More sharing options...
ChemEngr79 Posted March 12, 2020 Report Share Posted March 12, 2020 (edited) This has a very October 2008 ish vibe too it... Of course, I haven't watched a -10% day this time...yet... Edited March 12, 2020 by ChemEngr79 Link to post Share on other sites More sharing options...
Number9 Posted March 12, 2020 Report Share Posted March 12, 2020 21 minutes ago, Jamalisms said: Futures currently down 4-5%. I bet you can't short much of anything. The markets will come back up, but it will have to be based on growth. Now IF a vaccine was discovered/created, overnight the markets would explode. Link to post Share on other sites More sharing options...
Starkiller Posted March 12, 2020 Report Share Posted March 12, 2020 14 minutes ago, ChemEngr79 said: This has a very October 2008 ish vibe too it... Of course, I haven't watched a -10% day this time...yet... It feels like it now, but the difference is that there is no underlying structural economic collapse. The banking system isn’t at risk. Its going to lead to a recession simply because people aren’t going to go out and spend money in places where they would have before, but there isn’t a risk of total economic collapse. OILERMAN 1 Link to post Share on other sites More sharing options...
ChemEngr79 Posted March 12, 2020 Report Share Posted March 12, 2020 (edited) 6 minutes ago, Starkiller said: It feels like it now, but the difference is that there is no underlying structural economic collapse. The banking system isn’t at risk. Its going to lead to a recession simply because people aren’t going to go out and spend money in places where they would have before, but there isn’t a risk of total economic collapse. Many corporations are heavily debt loaded due to share buy backs from the last decade... A credit downgrade can sink many if this goes off the rails the next few months... Edited March 12, 2020 by ChemEngr79 Jamalisms 1 Link to post Share on other sites More sharing options...
Starkiller Posted March 12, 2020 Report Share Posted March 12, 2020 (edited) 17 minutes ago, ChemEngr79 said: Many corporations are heavily debt loaded due to share buy backs from the last decade... A credit downgrade can sink many if this goes off the rails the next few months... Sure, some companies are going to be hurt badly, but the banks (the foundation of the system) are not at risk like they were in 2008. Also, part of the problem is that the market was already overinflated based on the underlying financials. Thus it has farther to fall than it might otherwise. Edited March 12, 2020 by Starkiller Link to post Share on other sites More sharing options...
ChemEngr79 Posted March 12, 2020 Report Share Posted March 12, 2020 2 minutes ago, Starkiller said: Sure, some companies are going to be hurt badly, but the banks (the foundation of the system) are not at risk like they were in 2008. Agreed there, but I wonder if a big bank like Deutsche Bank might collapse and trigger a domino effect... Link to post Share on other sites More sharing options...
Jamalisms Posted March 12, 2020 Report Share Posted March 12, 2020 Debt is actually a significant issue. Link to post Share on other sites More sharing options...
IsntLifeFunny Posted March 12, 2020 Report Share Posted March 12, 2020 6 hours ago, ChemEngr79 said: This has a very October 2008 ish vibe too it... Of course, I haven't watched a -10% day this time...yet... It does. The difference is the Federal Reserve saved the global economy in 08 because it had room to maneuver. They lent over 17 trillion worth of liquidity to the global market. They can’t do that now without going into negative rates. They’ve been rendered effectively another player along for the ride instead of the principle mover. Link to post Share on other sites More sharing options...
IsntLifeFunny Posted March 12, 2020 Report Share Posted March 12, 2020 I don’t like to sound the alarms, but I think we are on a very slim margin before the country collapses into full panic. Sports are one of the main ways to keep the masses at bay during tough times. Link to post Share on other sites More sharing options...
OILERMAN Posted March 12, 2020 Report Share Posted March 12, 2020 16 hours ago, Downtown said: yeah, I still have 20+ years until retirement. the low interest rates though...got me thinking alot. I can retire in 2028. Me and my wife will both have pensions and I get dividends greater than my monthly pension right now with 8 more years to build it. I can be aggressive and don't need my principal investments. I also have about 2 years worth of living expenses in Vanuards money market account. Bring it on! ChemEngr79 1 Link to post Share on other sites More sharing options...
IsntLifeFunny Posted March 12, 2020 Report Share Posted March 12, 2020 2 minutes ago, OILERMAN said: I can retire in 2028. Me and my wife will both have pensions and I get dividends greater than my monthly pension right now with 8 more years to build it. I can be aggressive and don't need my principal investments. I also have about 2 years worth of living expenses in Vanuards money market account. Bring it on! Doesn’t this whole thing feel different to you? What’s happening is unprecedented. And it comes at a time where the FED can’t save us. With the way China’s economy has stalled, which means we are close to running out of a lot of everyday products, while sanitizer and TP are out in most major cities; I don’t know man this feels different. This feels like we are very close to the edge simply because of how it is being handled. Link to post Share on other sites More sharing options...
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