Bull Market officially over!! Year heading negative.

[Omega10]

The market did much better than I expected.

NASDAQ was close to even, so as people here have commented, the tech sector has pretty much bottomed out.
The DOW was down 600, which is amazing considering all the bad news that occurred over the weekend.

Boeing gained almost 12% to end up at 106, so it looks like Boeing has also bottomed out.

The market was mostly stable, with much smaller swings than there were in the last few weeks.

When all the unemployment numbers come out, things may change - that would be by Thursday right?

But at least for today it was somewhat sedate. Comparatively.

[Zan15]

The market did much better than I expected.

NASDAQ was close to even, so as people here have commented, the tech sector has pretty much bottomed out.
.

well Nasdaq is basically being held up by 4 companies right now and the index is a horrible indication of the overall performance of the economy since its so heavily weighted to just a few industries.

those companies are also what are called "laggards", who tend to see a delay in movements on impacts to their business vs companies that see an immediate bottom line impact.

Take amazon for instance, they are doing great now as people spend the money they still have and are still getting checks. They are also benefitting from people not leaving home. Few months down the road with massive unemployment and stores starting to have full stocks again, whole other issue.


Healthcare side of nadaq is also doing ok but long term, unemployment means no insurance means no healthcare means bad news for stocks.


I think the market in general still has a way to go and I think the nadaq has some catching up to do and might not see the same pop the rest of the market does when it finally turns around.

The market did much better than I expected.


The DOW was down 600, which is amazing considering all the bad news that occurred over the weekend.

Boeing gained almost 12% to end up at 106, so it looks like Boeing has also bottomed out.

.

More speculation on whom is actually going to get the govt money and whom isn't. people are trying to position themselves for the pop in a few companies like Boeing.

its good that there is a little stabilization, but still too many wild swings. Still too much panic. Still won't see official unemployment numbers till Thursday and even then those numbers will be semi-untrustworthy till the monthly numbers are released.

When all the unemployment numbers come out, things may change - that would be by Thursday right?

.

Yes at 8:30 I believe.

State numbers you can see sooner, that is if they are still publishing after trump told them not to for the first time in history I can remember

[Omega10]

Yes at 8:30 I believe.

State numbers you can see sooner, that is if they are still publishing after trump told them not to for the first time in history I can remember

So 8:30am EST. For people on the west coast, you might want to be awake and tuned in at 5:30am

Maybe tomorrow and Wednesday will be stable days until Thursday when things are likely to change quite a lot.

I am hoping at least that tomorrow and Wednesday are stable.

[alexw]

Again no its not. You can very easily google this information and read the economic papers on why its not a money creating process.

https://www.economicsfaq.com/is-quan...oney-printing/
https://www.cnbc.com/id/100760150
etc etc etc.


There is a lot of misinformation out there regarding what is considered "money creation".


They also cannot fund govt expenditures directly. they do not have the "money" or assets to do so.

There is no need since the govt can issue their own treasuries/debt till their fingers bleed.
Why would they need the fed to do it for them?? That would be silly.


The way things are going they would have no problem finding buyers for safe treasuries of the US govt.

The government issues new treasuries > market dealers buy them > market dealers sell treasuries to the FED for fresh newly created QE money.

Net effect = new QE money enters the economy.

This IS a money creation phenomenon no matter what semantics people try to hide it with.

[Zan15]

So 8:30am EST. For people on the west coast, you might want to be awake and tuned in at 5:30am

Maybe tomorrow and Wednesday will be stable days until Thursday when things are likely to change quite a lot.

I am hoping at least that tomorrow and Wednesday are stable.

depends on what congress does

no matter what they do there will be corporate winners and losers.

all depends on what % of each will drive the markets

- - - Updated - - -

The government issues new treasuries > market dealers buy them > market dealers sell treasuries to the FED for fresh newly created QE money.

Net effect = new QE money enters the economy.

This IS a money creation phenomenon no matter what semantics people try to hide it with.

the links I gave you exactly explain how new money does not enter the economy.
did you even bother to read them?

the semantics are on the side of people trying to call it money creation

[Breccia]

The DOW was down 600, which is amazing considering all the bad news that occurred over the weekend.

I want you to think back to, say, December and ask "would I have ever posted this line?"

[Machismo]

As it stands, this bailout, in whatever form it ends up taking, will be several times larger than the one in 2008-2009. Remember when the Tea Party rose to prominence as a result?

I'm guessing we won't hear more than a whimper from those hypocrites.

[alexw]

depends on what congress does

no matter what they do there will be corporate winners and losers.

all depends on what % of each will drive the markets

- - - Updated - - -



the links I gave you exactly explain how new money does not enter the economy.
did you even bother to read them?

the semantics are on the side of people trying to call it money creation

I read the first link which is what my reply was to. It basically argued that because the money is swapped for securities which are money like, then no new money enters the economy because one money enters while another (the securities) is removed.

But that just looks at the actions of the Fed and not the overall actions of the system. Which as I've shown DOES result in net money creation.

[Zan15]

As it stands, this bailout, in whatever form it ends up taking, will be several times larger than the one in 2008-2009. Remember when the Tea Party rose to prominence as a result?

I'm guessing we won't hear more than a whimper from those hypocrites.

Nah republican bail outs are the right way, Obama was wrong...because....reasons!!!

[Machismo]

Nah republican bail outs are the right way, Obama was wrong...because....reasons!!!

It's rather amazing how fast "conservative" Trumpsters turned into Bernie-loving socialists. Almost every single Trumpster I know is begging for a fucking check from the government right now.

[Breccia]

I'm guessing we won't hear more than a whimper from those hypocrites.

My main concern on that front is, when 2021 comes around and the US govt needs its money back, what the Republican Party will say. "Whaaaat? Raise taxes on corporations to make them give the money back? That doesn't sound like America at all! Let's just cut Medicare and SS to anyone not currently over 65."

I mean, it sounds like a joke now...

[Machismo]

My main concern on that front is, when 2021 comes around and the US govt needs its money back, what the Republican Party will say. "Whaaaat? Raise taxes on corporations to make them give the money back? That doesn't sound like America at all! Let's just cut Medicare and SS to anyone not currently over 65."

I mean, it sounds like a joke now...

Well, we like to call that the "Paul Ryan Special" around these parts.

[Omega10]

I want you to think back to, say, December and ask "would I have ever posted this line?"

You made me laugh so hard.

Yeah what a difference 3 months make.

[Vash The Stampede]

My main concern on that front is, when 2021 comes around and the US govt needs its money back, what the Republican Party will say. "Whaaaat? Raise taxes on corporations to make them give the money back? That doesn't sound like America at all! Let's just cut Medicare and SS to anyone not currently over 65."

I mean, it sounds like a joke now...

I totally see that happening, and I see Joe Biden agreeing to this because he has done so in the past. The corporations will never be able to pay any of that back, so something will get cut.

It's rather amazing how fast "conservative" Trumpsters turned into Bernie-loving socialists. Almost every single Trumpster I know is begging for a fucking check from the government right now.

Socialism ain't so bad when Capitalism fails. Its all fun and games until someone can't afford to eat food.

[Rasulis]

More news from the world of oil & gas.

Exxon has reduced production at its second-largest refinery in the United States, Baton Rouge in Louisiana, and the number of contract workers at the plant was reduced to 1,800. This has never happened before. The one advantage that Exxon and Chevron has over other US oil companies is that during slumping price they can make up their losses through their refineries.

Not this time.

Gasoline (not crude) future in New York is below 50 cents per gallon. Whole sale price for gasoline in Chicago is 20 cents per gallon. If not for the gas tax, the price of gasoline at the pump in Illinois would be less than $1.

Canada is days away from running out of storage and will have to start cutting production.

[Vash The Stampede]

More news from the world of oil & gas.

Exxon has reduced production at its second-largest refinery in the United States, Baton Rouge in Louisiana, and the number of contract workers at the plant was reduced to 1,800. This has never happened before. The one advantage that Exxon and Chevron has over other US oil companies is that during slumping price they can make up their losses through their refineries.

Not this time.

Gasoline (not crude) future in New York is below 50 cents per gallon. Whole sale price for gasoline in Chicago is 20 cents per gallon. If not for the gas tax, the price of gasoline at the pump in Illinois would be less than $1.

Canada is days away from running out of storage and will have to start cutting production.

I'm not complaining about cheap gas. The upside is that the environment is probably now recovering since we're burning far less fossil fuel.

[jimboa24]

In This Thread:

A bunch of sick fucks massively suffering from Trump Derangement Syndrome openly celebrating national misfortune, because the truth is, as much as they might claim to love America, they hate Trump and Republicans infinitely more, and will gladly see the country burn to ashes if it means they can blame it on Trump.
[Infraction]

[Benggaul]

In This Thread:

A bunch of sick fucks massively suffering from Trump Derangement Syndrome openly celebrating national misfortune, because the truth is, as much as they might claim to love America, they hate Trump and Republicans infinitely more, and will gladly see the country burn to ashes if it means they can blame it on Trump.

In this post: Conspiracy theory, strawman, ad homimen.

Safe to ignore, folks.

[Rasulis]

I'm not complaining about cheap gas. The upside is that the environment is probably now recovering since we're burning far less fossil fuel.

Twenty cents per gallon wholesale price for gasoline is not sustainable for extended period of time. The entire North America oil & gas operations may as well shut down if prices stay at that level.

[Low Hanging Fruit]

In this post: Conspiracy theory, strawman, ad homimen.

Safe to ignore, folks.

LOL, so true. I guess he forgot the point where my greed for my old 401k and IRA numbers "Trump" me not liking the moronic President and his party.