Bull Market officially over!! Year heading negative.

[Zan15]

My wife was the one that introduced me to DocuSign in 2012 when she started using it for all her real estate contracts. Her word back then "this is a game changer."

I don't get it, just seems like such a simple product/service offering.... that there would be hundreds of competitors.....


but grats for them and your wife for the amazing pick.
Though they spent quite a number of years really not doing anything stock wise they are benefitting oh so much right now....

[Omega10]

Dow futures down 559 with 10 min ‘till open... looks like it’s the cruise industry taking another hit.

Today was disgusting. The Fed did not like the results, so it pumped a bunch more money to bail out the stock market.

It seems that part of this is political - keep the stock market afloat until November to give Trump a chance.

Part of it is desperation - keeping the stock market afloat might be easy or even possible. Not for that long. So much money sent to so many places and yet the stock market is doing ok but not great.

Part of it is making sure that all stimulus dollars go to corporations and not to citizens. After all, after all we already spent, we no longer have the cash needed for Medicare for All, student debt relief, UBI, or any other benefits that would not go to corporations.

The best part of it from the republican standpoint is that they can channel the bulk of the money to their allies. No one will even know how much money really went out, and who received it.

My suspicion is that other countries are taking note of this and starting to look for less corrupt countries to deal with.

[Rasulis]

I don't get it, just seems like such a simple product/service offering.... that there would be hundreds of competitors.....


but grats for them and your wife for the amazing pick.
Though they spent quite a number of years really not doing anything stock wise they are benefitting oh so much right now....

Thank you.

DocuSign did not go public until early to mid 2018. The stock is barely 2 years old. The stock value went up steadily since the beginning, then it went crazy March of this year.

There are some competitors including Adobe. However, the competitors entered the market too late. By that time DocuSign had become a global standard. DocuSign was able to escape notice from the bigger sharks by concentrating in one area at a time. They started with real estate only and once they became the gold standard in real estate, they started establishing new beachheads one sector at a time. They were able to fly under the radar and by the time the big players recognized the lucrative legal document market, it was too late.

Oops. Almost forgot, it is cheap. My wife subscribed to the Business Professional package which is $40 per month. By using DocuSign she saved approximately $500 - $800 per month in paper, printing, copying, shipping (all overnight), courier, labor, gasoline and mileage. The saving for a large real estate company would be immense.

[Breccia]

It seems that part of this is political - keep the stock market afloat until November to give Trump a chance.

That sounds really risky. Bubbles pop, and if that happens before the election, there'll be no way of stopping an actual crash.

[Thepersona]

That sounds really risky. Bubbles pop, and if that happens before the election, there'll be no way of stopping an actual crash.

Ehh, with the second wave all but assured in the US, the crash is coming either way.

[Omega10]

That sounds really risky. Bubbles pop, and if that happens before the election, there'll be no way of stopping an actual crash.

Keeping things looking stable until November will not be easy. But its the only chance they got.

[Shkar]

Why not? It can't be about the optics.

Rasulis summed it up very simply, but from what I've seen of your posts, you like to learn and ask questions (even if the majority of them are leading), so I will provide a bit more detail.

When it comes to refineries, chemical manufacturers, or indeed many industries in general, the machinery is designed to run 24/7, 350 days a year (a good rule of thumb is two weeks of downtime a year for repairs, cleaning, etc). Any time aside from that where the equipment is not being used is leaving money on the table and not helping offset costs. Oil refineries in particular have an additional aspect that he didn't cover, but applies: different types of crude oil have different compositions, and that requires altering the refinery process. Higher water content may require a floatation separator, reflux ratios need to be retweaked, a new column may be more cost-efficient, etc. All of these changes mean that, at minimum, the line needs to be shut down, drained, changed, restarted, and given time to reach steady state.

Now, since my only first-hand experience with this specific industry is from my senior project in undergrad, I cannot tell you how much money that process would cost. I imagine that the major refineries already have processes drafted for the major oil suppliers, but if the input oil changes too much, they would no longer be in spec for regulations, and even a minor change could drastically change output efficiency.

What this all boils down to is that you will see hesitation and delay in regard to switching raw oil suppliers. If the writing is on the wall like it seems to be for shale oil, they absolutely will switch suppliers. For minor or temporary shifts in cost though? It would cost more to adjust than they would save.

[Breccia]

All of these changes mean that, at minimum, the line needs to be shut down, drained, changed, restarted, and given time to reach steady state.

Ah. So, they basically pay the same rent whether they stay once/month or every night, so they want to stay every night. Got it.

[Zan15]

Today was disgusting. The Fed did not like the results, so it pumped a bunch more money to bail out the stock market.

It seems that part of this is political - keep the stock market afloat until November to give Trump a chance.

Part of it is desperation - keeping the stock market afloat might be easy or even possible. Not for that long. So much money sent to so many places and yet the stock market is doing ok but not great.

Part of it is making sure that all stimulus dollars go to corporations and not to citizens. After all, after all we already spent, we no longer have the cash needed for Medicare for All, student debt relief, UBI, or any other benefits that would not go to corporations.

The best part of it from the republican standpoint is that they can channel the bulk of the money to their allies. No one will even know how much money really went out, and who received it.

My suspicion is that other countries are taking note of this and starting to look for less corrupt countries to deal with.

Actually the Fed's plan was made months ago....has not even started yet.

Also its a seperate plan from the stimulus.

on top of that it buying corporate debt not stocks.

Its also not using taxpayer dollars.

Its also debt for which the Fed and utimatly the Treasury will recieve interest on increasing how much money the govt has to spend on other programs.

etc etc


maybe learn about the program before you freak out.

[Breccia]

on top of that it buying corporate debt not stocks.

That's kind of their signature move, right? Giving out loans when needed to stabilize the economy?

[Omega10]

Actually the Fed's plan was made months ago....has not even started yet.

Also its a seperate plan from the stimulus.

on top of that it buying corporate debt not stocks.

Its also not using taxpayer dollars.

Its also debt for which the Fed and utimatly the Treasury will recieve interest on increasing how much money the govt has to spend on other programs.

etc etc


maybe learn about the program before you freak out.

I understand what we are being told about the money that is being distributed.
I understand that they are buying corporate debt.

I just do not believe the stories we are being told. I don't believe that the various companies are following all the rules. I do not believe that a majority of the money is going to "where it is supposed to be going to". And I do believe that this money ends up financing stock buy backs despite the denials. Or being spent on bonuses for executives who just "brought in a whole bunch of money for their company". Money is fungible, and so it is possible that TECHNICALLY everything is above board, but for all practical purposes the money is not being spent on what we are told it is being spent on.

And I absolutely DO believe that the money is being channeled to companies that support Trump and the republican party.

[Breccia]

And I absolutely DO believe that the money is being channeled to companies that support Trump and the republican party.

I'm sure we'd be able to discuss those feelings, if we had a list of who got how much money.

We don't. Munchkin's sitting on the list.

[cubby]

I'm sure we'd be able to discuss those feelings, if we had a list of who got how much money.

We don't. Munchkin's sitting on the list.

The Truth and Reconciliation Committee is going to have sub-committees that take up entire buildings.

[Lenonis]

The Truth and Reconciliation Committee is going to have sub-committees that take up entire buildings.

I hope I'm wrong but out of all of the serious contenders for the nomination Biden seems the most likely to do the whole "let's move on for the sake of healing" rather than "let's root out the corruption and toss them all in jail."

That's a landmine Biden could easily step on that would hurt the 2022 election pretty significantly. But that's probably a discussion best for the general election thread.

[Omega10]

I hope I'm wrong but out of all of the serious contenders for the nomination Biden seems the most likely to do the whole "let's move on for the sake of healing" rather than "let's root out the corruption and toss them all in jail."

That's a landmine Biden could easily step on that would hurt the 2022 election pretty significantly. But that's probably a discussion best for the general election thread.

The business community would lean heavily on any new democratic President to "let's move on for the sake of healing", which is what Obama did when HE was elected.

The protests can't stop just because Biden (or any democrat) is elected. They can only stop when a reasonable amount of "let's root out the corruption and toss them all in jail" has been done.

[Rasulis]

Retail jumped 17.7%.

However the list of companies filing Chapter 11 kept growing.

24 Hour Fitness

Colorado Oil and Gas Company

Extraction Oil and Gas

Petersen Dean Inc.

Templar Energy.

Chesapeake will finally file for Chapter 11 this week. They had to wait till now because liquidating their asset during the pandemic was almost impossible. Which is true for a lot of oil & gas bankruptcy cases. We will be seeing a flood of oil & gas company bankruptcies now that the economy has reopened allowing for asset liquidation.

Oil & gas equipment and lease auctions are booming from Texas to North Dakota to Alberta, Canada. Ritchie Bros., the world’s largest auctioneer of equipment and trucks, carried out its largest-ever auction in Texas earlier in June. The auctioneer sold around 5,300 equipment items and trucks for more than US$81 million in Fort Worth.

This week, Superior Energy Auctions is auctioning off oilfield equipment, trucks, and trailers in Odessa, Texas which is anticipated to be an even larger event.

More incoming.

[Zan15]

That's kind of their signature move, right? Giving out loans when needed to stabilize the economy?

That's just about all they do is provide "loans".

Its more to stabilize the liquidity in the market and make sure the financial system does not cease up and money stops moving like it did in 2008-2009.


They nearly earn 100-120 billion dollars a year in profits for the US Treasury.

Buying corporate debt is a way to both make money and allow corporations to keep the money flowing in the system. Also allows for other financial sources to loan money to other entities because that huge bucked of needed liquidity is already taken care of and is not absorbing the available public liquidity/loans.

[Rasulis]

Tech up. Apple now is worth 1.54T. At this rate it will surpass Aramco by the end of the year. Google is within striking range of the 1T mark. FB will likely hit 1T mark by the end of the year or early next year.

On the not so good side, airlines, cruises and retails are down big time. As in the 7 - 8% range drops. Oil & gas is down also. In the 2 - 4% range so far.

I wonder if this has something to do with why retails, airlines and cruises tanked.

The Rich Have Stopped Spending And That Has Tanked The Economy

Or maybe this.

Nine states hit record highs for covid-19 cases as Pence calls fear of a second wave ‘overblown’

Nine states — Alabama, Arizona, Florida, Nevada, North Carolina, Oklahoma, Oregon, South Carolina and Texas — reported either new single-day highs or set a record for seven-day new coronavirus case averages on Tuesday, according to a Washington Post analysis.

Nah. Probably not. The market does not give a shit about COVID-19 anymore.

This is rather insane. We are in the middle of one of the worst recession in history. Yet, the US will likely end with 5 trillion dollar companies by the end of the year, and possibly two 2-trillion dollar companies in the foreseeable future. All in tech.


SEC chief warns people not to use penalty-free 401(k) withdrawals for risky investments

Who would be insane enough to do something like that? NVM. Stupid question.

[Zan15]

This is rather insane. We are in the middle of one of the worst recession in history. Yet, the US will likely end with 5 trillion dollar companies by the end of the year, and possibly two 2-trillion dollar companies in the foreseeable future. All in tech.

.

Meh I imagine there will be a rotation out of tech at some point this year and back into consumer staples and industry stocks. They have gotten way ahead of themselves at this point and the selling in a lot of industries is waaaaaaaaaay overdone and is due for a spring back.

but then again a lot of new money coming in from people betting instead of investing so who knows.

Nine states hit record highs for covid-19 cases as Pence calls fear of a second wave ‘overblown’



Nah. Probably not. The market does not give a shit about COVID-19 anymore.

Odd there seems to be a trend here (Alabama, Arizona, Florida, Nevada, North Carolina, Oklahoma, Oregon, South Carolina and Texas) I just can't put my finger on it....




Lots of stories about Robinhood and the amazing returns but I wish someone would investigate some of the top losers and how many tens of thousands lost their shirts on things like Hertz.

[Breccia]

Well, that's interesting.