Bull Market officially over!! Year heading negative.

[Zan15]

Here we go last 30 min Inc!!!

Already 300 pt swing

[jeezusisacasual]

Ford did not even want the bailout money they didn't need it because they had no real exposure to the credit markets like GM financial did. The govt forced them.

You are correct, my bad. I get GM/Ford fairly mixed up from time to time. I am adamantly against bailing out of private institutions when regular people are forgotten / rejected. Also good morning to some green and while it wont recover all of yesterdays losses as of yet it is a positive spin none the less.

[Shadowferal]

Over 960 now...oh the swing!

[jeezusisacasual]

The crazy part of the whole thing - my wife had an open house yesterday. More than twenty interested buyers showed up. The owner of the house received nine offers by 4 pm yesterday. Three more by 8 pm. Each anywhere between 10k - 20k above asking. The record low mortgage rate is overheating the housing market.

It is like that here also ( Newcastle Australia ) but i think Australia has been in a housing bubble for along while tho.

[Zan15]

You are correct, my bad. I get GM/Ford fairly mixed up from time to time. I am adamantly against bailing out of private institutions when regular people are forgotten / rejected. Also good morning to some green and while it wont recover all of yesterdays losses as of yet it is a positive spin none the less.

I am for it when it comes with strings attached, done the right way. like the Bush/Obama admin did.
They got stock, they got options, they got bonds, they got guarantees they would not lose it all and any profits would not go to execs and stockholders before paying back taxpayers!!

I don't trust that republicans under trump will do the same thing. They are so against those "govt" take overs including the huge profit machines to our treasury Fanny and Freddie Mac.



Also PSA!
remember guys don't be a trumpkin.

a 20% loss is not made up by a 20% gain.


1000 > 800 (200 pt loss) = -20%.

800* 20% gain is only 160 points.

Need a 25% gain to make up for a 20% loss.




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Here we go last 30 min Inc!!!

Already 300 pt swing

Holy hell 700-940--700-800.. all in blips.

3:15 - 24569
3:20 - 24763
3:22 - 24824
3:25 - 24705
3:30 - 24623


24,649.10 798.08 (3.35%) 03:38:30 PM EDT MI Indication*
24,728.40 877.38 (3.68%) 03:44:51 PM EDT MI Indication*
24,810.70 959.68 (4.02%) 03:48:44 PM EDT MI Indication*
24,897.10 1,046.08 (4.39%) 03:51:09 PM EDT MI Indication*
24,905.10 1,054.08 (4.42%) 03:54:01 PM EDT MI Indication*
24,955.30 1,104.28 (4.63%) 03:59:11 PM EDT MI Indication*
25,010.10 1,159.08 (4.86%) 04:02:21 PM EDT MI Indication*

live tracker

https://markets.businessinsider.com/index/dow_jones

[jeezusisacasual]

I am for it when it comes with strings attached, done the right way. like the Bush/Obama admin did.
They got stock, they got options, they got bonds, they got guarantees they would not lose it all and any profits would not go to execs and stockholders before paying back taxpayers!!

I don't trust that republicans under trump will do the same thing. They are so against those "govt" take overs including the huge profit machines to our treasury Fanny and Freddie Mac.



Also PSA!
remember guys don't be a trumpkin.

a 20% loss is not made up by a 20% gain.


1000 > 800 (200 pt loss) = -20%.

800* 20% gain is only 160 points.

Need a 25% gain to make up for a 20% loss.

I know i am in the minority in that i support using taxation based legislation instead of fixing ailing sectors or businesses in general because that spickit is hard as shit to turn off once turned on or be used in the future as a cure all. If the US had a strong regulatory system in place to hold them accountable then i would be far less apprehensive to the idea, i just always think of running out the back door while holding bags of cash.


Now to see the newest trade war is going with regards to oil and its fairly funny given the situation. I still think that the Russian administration is not being honest in how long they can go without cuts to their overall governmental structure and how Saudi Arabia can actually muscle its members to do as they do but none the less a nice uptick for American producers while still below what they would like.

https://oilprice.com/Latest-Energy-N...-Than-Oil.html

Excuse the article i was reading it and did not reduce the base link, fat fingers.

[Zan15]

I know i am in the minority in that i support using taxation based legislation instead of fixing ailing sectors or businesses in general because that spickit is hard as shit to turn off once turned on or be used in the future as a cure all. If the US had a strong regulatory system in place to hold them accountable then i would be far less apprehensive to the idea, i just always think of running out the back door while holding bags of cash.


Now to see the newest trade war is going with regards to oil and its fairly funny given the situation. I still think that the Russian administration is not being honest in how long they can go without cuts to their overall governmental structure and how Saudi Arabia can actually muscle its members to do as they do but none the less a nice uptick for American producers while still below what they would like.

https://oilprice.com/Latest-Energy-N...-Than-Oil.html

Excuse the article i was reading it and did not reduce the base link, fat fingers.

not a single....

SINGLE

gas station in my area dropped today/overnight

if this was a 20% bump in prices you would have instantly seen a 20-30 cent increase

Spot price of gas was almost down to 1.00. the spread is beyond retarded, over 200% in some area's.
But hey, no gouging on hand sanitizer!!!

[Rasulis]

It is like that here also ( Newcastle Australia ) but i think Australia has been in a housing bubble for along while tho.

I have relatives in Australia and New Zealand. Your prices are insane. San Diego real estate is cheap compared to over there. Your big cities real estates on average are probably more expensive than SF and NY.

[Breccia]

So +1000? Interesting. Half the loss back. That fits the pattern.

24,900 at time of writing. Which is still in correction territory. And still a loss of the last two years. Trump had a major rally and is still a massive loser.

[Zan15]

Banks are heading to the WH tomorrow to beg for free money....again.....

[jeezusisacasual]

not a single....

SINGLE

gas station in my area dropped today/overnight

if this was a 20% bump in prices you would have instantly seen a 20-30 cent increase

Spot price of gas was almost down to 1.00. the spread is beyond retarded, over 200% in some area's.
But hey, no gouging on hand sanitizer!!!

Oh yea its a fast rise but never a decline that is the new standard. I cant get past how people are reacting to a honest health crisis which is abhorrent and yet i am sure some of these will claim faith as their shining light.

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I have relatives in Australia and New Zealand. Your prices are insane. San Diego real estate is cheap compared to over there. Your big cities real estates on average are probably more expensive than SF and NY.

My home is 230 Square meters and almost 600k ( This was in 2016 )

[Breccia]

The explanation I saw for the rally is "people are convinced Trump will do something to prevent a crash". The fact that we didn't get all 2,000 points back suggest that he has half convinced people.

[Zan15]

holy shit the last 2 minutes the ticker was going insane....I would love to see a second by second chart. wish I had access.

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The explanation I saw for the rally is "people are convinced Trump will do something to prevent a crash". The fact that we didn't get all 2,000 points back suggest that he has half convinced people.

i.e trump will bail out corporations, propping up their stock market prices.....after spending 8 years with his party crying about the Obama bailouts.....

I am just so afraid it will be just like the farm bailouts and not the auto bailouts where the tax payers don't get anything back...instead of pulling a profit on taxpayers money

[Breccia]

holy shit the last 2 minutes the ticker was going insane

I know, right? Add 600 more points and he'll be only 1,000 under Jan 2018's peak.

[jeezusisacasual]

Well the national guard is being deployed to New York apparently for dealing with containment of the Corona virus, i am sure this will be used as an excuse if the market falls tomorrow.

[Rasulis]

Here is S&P 500 YTD by sector as of yesterday. Notice that the energy sector is the only sector without a peak this year? Actually, the energy sector peak period was several years back. I am too lazy to look it up.



Lets look at the breakdown of the energy sector. Ouch!




If I sounded gleeful at the misfortune of the oil traders, it was because after my wife and I dumped all of our oil & gas funds, the adviser kept trying to sell us Blackrock oil & gas fund. In fact, he pissed us so much, we ended up switching all the accounts to First Republic. I would have liked to see him again just to say “I told you it is going to crash.”

[Thepersona]

The explanation I saw for the rally is "people are convinced Trump will do something to prevent a crash". The fact that we didn't get all 2,000 points back suggest that he has half convinced people.

Are these people imbeciles? The cancer defanged almost all of the counter-cyclical measures that we commonly use to soften this blow, beforehand

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Well the national guard is being deployed to New York apparently for dealing with containment of the Corona virus, i am sure this will be used as an excuse if the market falls tomorrow.

So it's worse than we think?

[Breccia]

YTD

That's still the important thing. Today is good, but it's part of an overall downward trend. Or to put it another way,

As bad as the stock market looks, in May 31st 2019 the Dow Jones was 24,815. December 21st 2018 it was 22,445, and Nov 10th 2017 it was 23,442. As far as I'm concerned we're looking at a massive correction, and one that isn't over yet.

The trend is mostly down now for like 3 weeks now (going on to a month) and the oil war is just starting and the virus shit in the US is only starting to get rolling because as far as I can tell the response has still been next to nil aside from telling people in the press everything is awesome.

[Thepersona]

Banks are heading to the WH tomorrow to beg for free money....again.....

Can he do that without congress approval?

[Breccia]

Are these people imbeciles?

No. They're reading Trump 100% correctly.

As @Edge- posted, Team Trump went to meet the Senate GOP and threw fifty ideas on the wall, hoping one would stick. Everyone knows Trump is desperate to avoid yet another one of "his accomplishments" go down in flames, and he'll spend as much of other people's money as he can to make himself look good. He'll sign ANYTHING that comes to his desk. Payroll tax cut? Sure! Targeted tax break for companies? Sure! Refund to hospitals for costs? Sure!

Go back and look at the timeline of Trump's most public responses: putting Pence in charge, and after yesterday's crash. Trump doesn't actually care about people who are getting sick and dying, he keeps downplaying them and getting their gender wrong. But the DOW drops and he's out in force to put someone else in charge and wait for them to come up with ideas he can sign.

Trump's motives are selfish, actually they're evil. But that doesn't mean he won't actually bail out companies, as he did with the tax cut for the rich, by just handing them a large pile of socialist bailouts to save them. Even if the damage was self-inflicted (see also: oil companies).