Bull Market officially over!! Year heading negative.

[Zan15]

Not surprised. In fact I will be surprised if this administration does not get involved in insider trading.

looks like as of yesterday the entire robin hood population plowed into Kodak driving it even more insane. at least 60k accounts

https://markets.businessinsider.com/...0-7-1029447131

2.50 > 7.00 > 60.00 > 35.00 > 42.00 >?

https://www.benzinga.com/news/20/07/...d-of-drug-news

It also looks like someone was buying a lot of small options orders not to get noticed. They estimated at 60 dollars they would have made $50 million dollars.



man it was only a loan. WTF.

If i had any balls i would short the fuck out of this mess..or any disposable income. wish my 2.0 $1200 would get here

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You guys ready for GDP report tomorrow???

https://www.yahoo.com/news/us-expect...155015482.html

Somehow my tiny little conspiracy portion of my brain says it will come in way better... Then days later some "errors" will be found just like unemployment...

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https://www.cnbc.com/2020/07/29/koda...announced.html

Looks like a few execs were buying this days before announcement...

No one will see a problem in this admin

[Felya]

GDP down 32.9%... My notifications are going nuts... check your favorite source... they all are reporting it.

Axious: “Worst contraction in history” just from the headline... still popping up alerts from all news sources.

[Breccia]

“Worst contraction in history”

The stock market is supposed to be a predictive force. We all knew this was coming. Why didn't the DOW? And why only DOWn 500 or so? That said, we are back in Jan 2018 territory and within a few dozen points of the thread's title being right back in play again.

Also, the GDP is only part of the story. As it always is. The labor force is another part. From April to July, the percent of people who lost their job saying "it's gone forever" roughly doubled from 22% to 47% or so. Coronavirus crushed child care centers, making it harder for parents to work. Poorer businesses aka "businesses owned by minorities" aren't recovering. Older people are afraid to return to the lethal outbreak-infested workplace.

Labor force participation crashed by about a decade and only half that ground's been replaced. Unemployment figures speak for themselves, we have those, but since January, about 3% of America had a job and no longer does. Fired? Quit? Still on indefinitely furlough? Gave up? Labor force participation counts it all. And it is now lower than Obama ever saw.

[Zan15]

The stock market is supposed to be a predictive force. We all knew this was coming. Why didn't the DOW? And why only DOWn 500 or so? That said, we are back in Jan 2018 territory and within a few dozen points of the thread's title being right back in play again.

.

Speculation > Predictive force.

If you take the top 6 tech stocks out of the equation of reality you will see that the stock market as a whole is actually reacting as it should. Like dog shit.

But the stock market right now is basically the 1920s all over again with retail investors hoping for a lottery win and everyone is dog piling into it.

the 600 dollar and 1200 dollar payments basically helped create a whole army of "betting" traders instead of actual investors that have disjointed the stock market from reality.
Then because of this abnormality the institutional investor with their trillions had to pile into the market to avoid losing their jobs because of bad press "being beat by kids"

its a nightmare scenario that could go south at any minute but with another 1200 coming.....

5 major tech companies report earnings today after the close.

[Rasulis]

The stock market is supposed to be a predictive force. We all knew this was coming. Why didn't the DOW? And why only DOWn 500 or so? That said, we are back in Jan 2018 territory and within a few dozen points of the thread's title being right back in play again.

Also, the GDP is only part of the story. As it always is. The labor force is another part. From April to July, the percent of people who lost their job saying "it's gone forever" roughly doubled from 22% to 47% or so. Coronavirus crushed child care centers, making it harder for parents to work. Poorer businesses aka "businesses owned by minorities" aren't recovering. Older people are afraid to return to the lethal outbreak-infested workplace.

Labor force participation crashed by about a decade and only half that ground's been replaced. Unemployment figures speak for themselves, we have those, but since January, about 3% of America had a job and no longer does. Fired? Quit? Still on indefinitely furlough? Gave up? Labor force participation counts it all. And it is now lower than Obama ever saw.

Stick with tech and mega cap tech. The stock of all 4 companies at the hearing yesterday went up. Docusign, after being flat for 2 weeks, went up 2% in one day. Qualcomm up 14%. Google, FB, Apple and Amazon's earning report after hour today. If they exceed expectations, the gap between the big 5 and the rest of the market will get larger. Much larger.

If you take out the tech sector from graph, the number is even worse. Without the big 5 and the tech sector, the US stock market as a whole sucks. You are better off putting your money in the bank.

[Zan15]

Part two of "no one's going to go to jail..."

https://www.dailymail.co.uk/news/art...ht-shares.html

Kodak CEO admits he bought thousands of shares in the fallen photo firm AFTER taking part in secret talks to turn company into pharma giant with $768M government loan - making $1.5m personal profit

Jim Continenza told CNBC Wednesday the initial discussions started in May

On June 23 he bought 46,737 shares for just $2.22 for a profit $1.5 million

Board member Philippe Katz also purchased 5,000 shares that same day

man there are a lot of robinhooders on the hook around 30-60 dollars a share as it drops everyday now down to 28.00

[Edge-]

Part two of "no one's going to go to jail..."

https://www.dailymail.co.uk/news/art...ht-shares.html

Kodak CEO admits he bought thousands of shares in the fallen photo firm AFTER taking part in secret talks to turn company into pharma giant with $768M government loan - making $1.5m personal profit

Jim Continenza told CNBC Wednesday the initial discussions started in May

On June 23 he bought 46,737 shares for just $2.22 for a profit $1.5 million

Board member Philippe Katz also purchased 5,000 shares that same day

man there are a lot of robinhooders on the hook around 30-60 dollars a share as it drops everyday now down to 28.00

"White collar" crime really needs to be prosecuted more often and more severely. The apparent near immunity from legal consequences that wealthy people face continues to to be fucking pathetic. And both parties are to blame on this, because nobody went to jail after the last financial crisis and all the illegal fuckery that went on.

[Rasulis]

Amazon – gross revenue 88.9B/net revenue 5.2B. All I got to say is wow!

Apple – gross revenue 59.7B/net revenue 11.25B. Another wow!

Facebook – gross revenue 18.69B/net revenue 5.18B. Third wow!

Google – gross revenue 38.3B/net revenue 6.96B. Any other company but Google would have been wow! For the first time in its 22-year history Google reported a revenue drop. A 2% decrease from 38.9B the same time last year.

[Zan15]

Amazon – gross revenue 88.9B/net revenue 5.2B. All I got to say is wow!

Apple – gross revenue 59.7B/net revenue 11.25B. Another wow!

Facebook – gross revenue 18.69B/net revenue 5.18B. Third wow!

Google – gross revenue 38.3B/net revenue 6.96B. Any other company but Google would have been wow! For the first time in its 22-year history Google reported a revenue drop. A 2% decrease from 38.9B the same time last year.

Though under the front line numbers there were a lot of things to worry about. Dropping ad revenue, declining server business, delay in new products, 600 dollar stipend coming to an end, etc.

Even apple Bigly made up for their core business drop by selling the shit out of ipads and computers thanks to the shutdown, govt purchase of equipment for schools and 600 dollar subsidies into the same thing.

but in the end there was no real horrible news of fear which will drive these stocks crazy tomorrow and for the short term.

[Breccia]

Dropping ad revenue

I'll be honest, I thought this would have made a larger dent in their stock prices than it did.

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This poorly cut-and-paste graph



Is the blue S&P vs brown oil companies since 2010. That drop near the end is, of course, this year's. Exxon, Shell, and BP have suffered significant losses of late. Exxon in particular just lost over a billion dollars in Q2 after losing hundreds of millions in Q1. It would have been worse, but they cut spending by three billion -- a significant blow to their long-term earnings, since you can't process oil into gas in a refinery you didn't build from a well you didn't drill.

We've talked about oil taking a beating but, damn, not many companies can say "it's okay, we only lost a billion dollars and 30% of our stock because we took action to stem the bleeding".

[Rasulis]

Though under the front line numbers there were a lot of things to worry about. Dropping ad revenue, declining server business, delay in new products, 600 dollar stipend coming to an end, etc.

Even apple Bigly made up for their core business drop by selling the shit out of ipads and computers thanks to the shutdown, govt purchase of equipment for schools and 600 dollar subsidies into the same thing.

but in the end there was no real horrible news of fear which will drive these stocks crazy tomorrow and for the short term.

During this crazy time, I consider “no horrible news” as “good news.” We could have had tech sector news like Exxon losing 1.1B and Chevron losing 8B. That would really send the market spiraling out of control and the title of Breccia’s thread truly apropos.

All in all, I think we have a lot of good news in the tech sector and big 5.

Google advertising revenue is down, but their Google cloud revenue went up 42.8%. YouTube advertising revenue went down, but active user base grew by 5% since June 2019.

Apple revenue increase throughout all sectors - iPhone, iPad, Mac, wearable and service. A lot of pent up demand and preorder already for iPhone 12. Although it may come out late by several weeks. News of 4 to 1 split. I think Apple market cap will hit 1.8T today.

Amazon just received approval to launch a 3,000 satellites internet network. Which will compete directly with SpaceX proposed satellite internet network. I bet Musk is not happy.

Facebook user base also kept growing. Facebook Marketplace launched late last year is projected to generate 5B in revenue by the end of this year. Facebook will be launching Reels (direct competition of Tik Tok) soon in 50 countries.

Microsoft is Microsoft. The company has it’s hands in so many pies.

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We've talked about oil taking a beating but, damn, not many companies can say "it's okay, we only lost a billion dollars and 30% of our stock because we took action to stem the bleeding".

Chevron lost 8B.

[Breccia]

Chevron lost 8B.

And they're still doing better, percentagewise at least, than Exxon, BP or Shell.

[Zan15]

Chevron lost 8B.

This is why i respect tech companies so much, well most of them for business strat not so much as a company culture and operation ethics.

They are not hog crazy about buy backs and dividends. They are sitting on mounds of cash and diversity that can weather the storm quite well.

[Rasulis]

Oops. Forgot to mention that the majority of the companies that participated in FB ad boycott in July will start advertising on FB again in August. A few, like Ben & Jerry, will still boycott advertising on FB.

Apple market cap is at 1.79T. Higher than Aramco 1.759T. USA #1! Sorry. Got carried away there.

Updated - 1.8T.

1.807T and climbing.

To add to the Chapter 11 list.

California Pizza Kitchen.

Noble Corps.

Valaris.

Denbury.

Pinterest went up 35% today. WTH?

1.84T and still going up after hour.

[DarkTZeratul]

I'll be honest, I thought this would have made a larger dent in their stock prices than it did.

- - - Updated - - -

This poorly cut-and-paste graph



Is the blue S&P vs brown oil companies since 2010. That drop near the end is, of course, this year's. Exxon, Shell, and BP have suffered significant losses of late. Exxon in particular just lost over a billion dollars in Q2 after losing hundreds of millions in Q1. It would have been worse, but they cut spending by three billion -- a significant blow to their long-term earnings, since you can't process oil into gas in a refinery you didn't build from a well you didn't drill.

We've talked about oil taking a beating but, damn, not many companies can say "it's okay, we only lost a billion dollars and 30% of our stock because we took action to stem the bleeding".

I remember thinking ten years ago that it'd be a really smart idea for the oil companies to start investing in solar and other forms of green energy lest they collapse when oil becomes less desirable. And if I thought of it, I'm sure it occurred to them as well, and I'm not sure whether it's worse that they thought of it and discounted it, or if they actually didn't think about it.

[Rasulis]

I remember thinking ten years ago that it'd be a really smart idea for the oil companies to start investing in solar and other forms of green energy lest they collapse when oil becomes less desirable. And if I thought of it, I'm sure it occurred to them as well, and I'm not sure whether it's worse that they thought of it and discounted it, or if they actually didn't think about it.

Between 2008 and 2010, while oil stocks were going up, my wife and I switched all of our investments with high exposure to oil & gas to tech. We never regretted it. In 2012, the financial advisor assigned by Well's Fargo to our accounts, kept pushing oil & gas derivatives. We transferred all of our accounts to First Republic and never looked back.

BTW, Microsoft is considering purchasing Tik Tok North America operation. Which will put it in direct competition with FB Reels.

[Breccia]

BTW, Microsoft is considering purchasing Tik Tok North America operation. Which will put it in direct competition with FB Reels.

Was that before or after Trump threatened to shut them down?

[Rasulis]

Was that before or after Trump threatened to shut them down?

I assume after.

[Paranoid Android]

CNBC running a segment now advising people who are losing their unemployment benefits to "make ends meet" by "following a pandemic budget;" contact "lenders and creditors" for help; and "post your skills" on Nextdoor, Instagram & Facebook

https://twitter.com/JStein_WaPo/stat...748873728?s=19

Ahh the ignorance of out of touch assholes. Yes, stretch that budget when you have no income coming in. Yes go find a job when nobody is hiring.

Remember Larry Kudlow came from CNBC and they have many out of touch assholes there. A good statement tho is CNBC has a very small audience and we know most will eat this crap up.

[Zan15]

Hey what's so bad i mean he only destroyed 10 years of job growth and 5 years of GDP in 1.5 quarters. its not like its getting worse...

https://www.msn.com/en-us/money/mark...ch/ar-BB17qy05

(Bloomberg) -- One of the world’s major credit-rating companies fired a warning shot regarding the U.S.’s worsening public finances on Friday, just as lawmakers in Washington contemplate spending more to combat the economic fallout from the coronavirus pandemic.


Fitch Ratings revised its outlook on the country’s credit score to negative from stable, citing a “deterioration in the U.S. public finances and the absence of a credible fiscal consolidation plan.” The country’s ranking remains AAA.

“High fiscal deficits and debt were already on a rising medium-term path even before the onset of the huge economic shock precipitated by the coronavirus,” Fitch said. “They have started to erode the traditional credit strengths of the U.S.”

Unemployment has skyrocketed and the U.S. economy just notched up its worst quarter on record, with pandemic-related shutdowns helping drive an annualized gross domestic product contraction of 32.9% in the three-month period through June. And with infections still spreading rapidly in many states, the virus’s damaging impact on output looks set to continue.

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Oops. Forgot to mention that the majority of the companies that participated in FB ad boycott in July will start advertising on FB again in August. A few, like Ben & Jerry, will still boycott advertising on FB.

Apple market cap is at 1.79T. Higher than Aramco 1.759T. USA #1! Sorry. Got carried away there.

Updated - 1.8T.

1.807T and climbing.

To add to the Chapter 11 list.

California Pizza Kitchen.

Noble Corps.

Valaris.

Denbury.

Pinterest went up 35% today. WTH?

1.84T and still going up after hour.

i stopped looking at the top 6 this week i refuse to waste brain power trying to figure it all out anymore