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Markets still falling like whoa

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9 minutes ago, bluto said:


Explain it but in single syllable word English

MOAR

Lotta quarter end re-balancing coming (already happening?).  Anyone still waiting for 2,000 in the S&P? Don't know if we are going to retest the way this is going.  Forced liquidations are over and anyone wanting it to go lower are fighting $2T in direct stimulus plus more if needed and the Fed absolutely flooding the market with liquidity.  

And I know what Bill did was 'legal' but he's still the biggest asshole on the planet utilizing his 'immune compromised' father as he was pleading his short case.

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1 hour ago, bluto said:


Explain it but in single syllable word English

for people/entities who have orders involving large numbers of shares, they can submit their order to buy or sell to the end of day auction system.  the idea behind the auction system is to pair off large orders to achieve less volatility in price.  it's run by the primary market maker (either NYSE, Amex, NSDQ, or ARCA) and the market maker will pair off all of the buys and sells for each stock.  you can submit your orders for the auction as soon as the exchanges open at 5am.  

 

starting at 3pm eastern, the exchanges publish an aggregate imbalance number-  that's the total number of buys and sells as expressed in a dollar amount (calculated by # shares times the price of their respective shares in each stock name at that one point in time).  on a normal non-covid day the imbalance will be somewhere around a billion or two dollars either buy or sell.  even at the height of the market turmoil a couple weeks ago the imbalances weren't too crazy, around 4 or 5 billion dollars.   today it was a 7 billion dollar buy.  could it be due to the upcoming end of quarter rebalancing?  maybe.  something to consider, today there was a huge amount of buying at a controlled pace.  fed action?  wish i knew but it sure feels like it.  it's someone with deep pockets that's for sure.

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I bought into some REITs yesterday just because of the beatings they have taken.  To my surprise they went bonkers and shot up like crazy.  Immediately dumped them to put back into my long term blue Chip stuff

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Posted (edited)

Glad I took plenty of profits from my puts on the way down, because the ones I'm left holding are getting destroyed now. I'll see where we're at on Monday, but may close out my remaining ITM puts then and just keep the July 225, which not surprisingly are no longer in the green. Doesnt seem like betting against the fed right now is a wise choice.

Edited by Blotto

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5 hours ago, babysdaddy said:

MOAR

Lotta quarter end re-balancing coming (already happening?).  Anyone still waiting for 2,000 in the S&P? Don't know if we are going to retest the way this is going.  Forced liquidations are over and anyone wanting it to go lower are fighting $2T in direct stimulus plus more if needed and the Fed absolutely flooding the market with liquidity.  

And I know what Bill did was 'legal' but he's still the biggest asshole on the planet utilizing his 'immune compromised' father as he was pleading his short case.

I definitely think we retest lows.  2000?  I'd still give a chance but my 50/50 is more like 2250.  There's a shitload of carnage ahead.  I hope I'm wrong.  I'm still in cash but the next big down day, I'll start putting chips back into play.  I got out at 2850.  

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2 hours ago, Blotto said:

Glad I took plenty of profits from my puts on the way down, because the ones I'm left holding are getting destroyed now. I'll see where we're at on Monday, but may close out my remaining ITM puts then and just keep the July 225, which not surprisingly are no longer in the green. Doesnt seem like betting against the fed right now is a wise choice.

I only have profits at risk right now.  So if in some bizarre twist we don't test lows at all I'll still get out even and had a damn good time doing it.  Even with puts/options is a got damn win. 

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Gonna be a long slog... still content to sit this out for a while

Based on the num­ber of Amer­i­cans work­ing in jobs that re­quire di­rect con­tact with oth­ers, and the num­ber in higher-risk un­salaried po­si­tions, St. Louis Fed­eral Re­serve econ­o­mists es­ti­mate that 52.8 mil­lion Amer­i­cans could be un­em­ployed next quar­ter. That is 32.1% of the la­bor force, a nine­fold in­crease in job­less­ness.

Even pre­sum­ing that 90% of the work­ers fur­loughed re­turn to their pre­vi­ous jobs in a few months at pre­vi­ous salaries and that the busi­nesses they work for re­sume ex­actly their pre­vi­ous health, that would leave an un­em­ploy­ment rate of some­thing like 6% based on the size of the la­bor force now. That level of un­em­ploy­ment was last seen in mid-2014, when the S&P 500 was strug­gling to break north of 2000.

And even in the best re­cov­ery sce­nario, there is lit­tle dis­cus­sion about long-term im­pact on con­fi­dence and con­sump­tion. Re­search sug­gests that even af­ter rel­a­tively short bouts of un­em­ploy-ment, work­ers keep their con­sump-tion lower to re­build fi­nan­cial buf­fers eroded dur­ing their job­less­ness.

We still know un­com­fort­ably lit­tle about the virus and, more im­por-tant, about the ef­fi­cacy of the var­i­ous meth­ods em­ployed to halt its spread. But most sce­nar­ios look worse than the one mar­kets ap­pear to be an­tic­i­pat­ing. Sec­ondary out­breaks in re­gions that ap­pear to be past the worst, or even to have de­feated the epi­demic, are a grim pos­si­bil­ity.

De­bate will rage for years about how poorly pre­pared mar­kets were for this cri­sis—whether they gave too lit­tle weight to high cor­po­rate debt lev­els for ex­am­ple. On a price-to-earn­ings mea­sure, eq­ui­ties were richly val­ued when the storm struck. And at 14.4 times earn­ings for the next 12 months, the S&P 500 is still priced close to its 15-year av­er­age, nowhere near the lows reached in 2011, when that mul­ti­ple fell to as low as 10.

Of course, it isn’t im­pos­si­ble that the bot­tom has been reached. But cau­tious in­vestors might want to ask whether they see more op­por­tu­ni­ties for U.S. eq­ui­ties to rise 10% in the next month, or fall 10%.

It is hard to es­cape the con­clu­sion that, es­pe­cially in the eq­uity mar­ket, cur­rent pric­ing still re­flects an op­ti­mistic take on the range of eco­nomic and pub­lic-health out­comes.

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5 minutes ago, ChiTownDoc said:

I only have profits at risk right now.  So if in some bizarre twist we don't test lows at all I'll still get out even and had a damn good time doing it.  Even with puts/options is a got damn win. 

Yeah that's where I am, but they are much smaller than they should be and I'm kinda pissed that I missed the bounce coming right at me.

I've closed out all my positions though April because day to day it's too volatile. But there is more bad economic news coming, but it could be offset if the virus slows significantly .... and who knows about that

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6 hours ago, Wally Fairway said:

Yeah that's where I am, but they are much smaller than they should be and I'm kinda pissed that I missed the bounce coming right at me.

I've closed out all my positions though April because day to day it's too volatile. But there is more bad economic news coming, but it could be offset if the virus slows significantly .... and who knows about that

The Risk I Took Was Calculated | Know Your Meme

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I remember when OPEC + Russia discussing production limits would have been big news, not sure how much this could affect the markets

https://www.reuters.com/article/oil-opec-russia-rdif/russias-rdif-new-opec-deal-possible-to-address-demand-if-others-join-idUSR4N2B4012

Quote

MOSCOW, March 27 (Reuters) - Kirill Dmitriev, the head of the Russian Direct Investment Fund (RDIF), believes a new OPEC+ deal to balance oil markets might be possible if other nations joined it and that countries should cooperate to mitigate the economic fallout from coronavirus.

“Joint actions by countries are needed to restore the(global) economy... They (joint actions) are also possible in OPEC+ (group of the Organization of Petroleum Exporting Countries and non-OPEC members) deal’s framework,” Dmitriev told Reuters in a phone interview.

Russia is a leading non-OPEC member and Saudi Arabia is a key OPEC player. A deal between OPEC and other oil producing nations to curb production to support prices fell apart earlier this month after a failure to agree how to address falling oil demand hit by coronavirus, sending global oil prices into a tailspin.

 

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Just now, atomheartbevo said:

It’s only down a thousand points 

What a time to be alive!

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Posted (edited)
2 minutes ago, stone oak said:

Jesus fuck, can we keep the goddamn motherfucking politics out of the fucking market thread.

TIA

Pointing out that a politician looks like shit isn't political. Everyone has eyes.

Edited by aggie08

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3 minutes ago, stone oak said:

Jesus fuck, can we keep the goddamn motherfucking politics out of the fucking market thread.

TIA

Lighten up, Francis. 

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Just now, aggie08 said:

Pointing out that a politician looks like shit isn't political.

Great, still don't give a fuck. Keep that shit out of here, this is the only thread on bada bing right now without shit like that. 

Let us be.

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1 minute ago, stone oak said:

Great, still don't give a fuck. Keep that shit out of here, this is the only thread on bada bing right now without shit like that. 

Let us be.

Okay, buddy.

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This thread is active enough as it is.  There is an entire other board over there for politics.  Please take your politics over there and leave the rest us to lose money in peace.

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Just now, Parliament said:

This thread is active enough as it is.  There is an entire other board over there for politics.  Please take your politics over there and leave the rest us to lose money in peace.

Oh shut the fuck up. It was a joke about Boris Johnson looking like shit. Lighten the fuck up.

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1 minute ago, Parliament said:

This thread is active enough as it is.  There is an entire other board over there for politics.  Please take your politics over there and leave the rest us to lose money in peace.

Thank you for your service 

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3 minutes ago, Parliament said:

This thread is active enough as it is.  There is an entire other board over there for politics.  Please take your politics over there and leave the rest us to lose money in peace.

YOu don't think the Prime Minister of the UK catching this virus will move markets?  Politics got nothing to do with it.

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3 minutes ago, Parliament said:

This thread is active enough as it is.  There is an entire other board over there for politics.  Please take your politics over there and leave the rest us to lose money in peace.

Again, sarcastically pointing out that ugly, unhealthy human beings are ugly and unhealthy is not a political take. That's probably the only time that I've ever typed out a politician's name in my time here or on shaggy, and I sure as shit don't visit the Cloak Room. It would have been just another passing comment had you guys not arbitrarily decided that it was "political."

But whatever, I won't mention another politician in any context whatsoever. Carry on.

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6 minutes ago, aggie08 said:

Again, sarcastically pointing out that ugly, unhealthy human beings are ugly and unhealthy is not a political take. That's probably the only time that I've ever typed out a politician's name in my time here or on shaggy, and I sure as shit don't visit the Cloak Room. It would have been just another passing comment had you guys not arbitrarily decided that it was "political."

But whatever, I won't mention another politician in any context whatsoever. Carry on.

You have to say "No cloak room". Then it's all good.

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as much as I try to social distance from CR and appreciate the attempted quarantine of it, effin politics do have a big damn role in economics at every level

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My SPY puts are up to a level where I might be able to feed my family this winter.  So I have that going for me.

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Pointing out that the Footsie is getting hammered because the Prime Minister has Coronavirus isn’t political.

 

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Just now, McCroskey said:

Anyone buying anything yet today?  

Does an Oximeter off amazon count?

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3 minutes ago, McCroskey said:

Anyone buying anything yet today?  

I bought some call options this morning when we were at lows this morning and just sold them for a short term profit. 

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1 minute ago, McCroskey said:

When does the house finally vote?

lulz...  you can't talk about that here... Safe to say it will happen, but it's been delayed.  That's all I'll say about that.

I do wonder if it has already been priced in...  I assume it already has.

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5 minutes ago, The People’s Elbow said:

I know it’s already been shared, but because I’m bored, fuck it:

 

https://brrr.money/

Make sure you turn on the site’s music. 

that's great, thanks.  fyi those quotes are delayed.

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Well fuck. 
 

Had to deal with some fraud attempts and logged into fidelity for the first time in weeks. That was sickening. 

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6 minutes ago, Archer said:

Well fuck. 
 

Had to deal with some fraud attempts and logged into fidelity for the first time in weeks. That was sickening. 

no worries.  its already priced-in your portfolio

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