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Markets still falling like whoa


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Apparently "the market" was actually believing there could be a 2nd round of stimulus before the election, POTUS said shut'r down and the market was shocked.
REALLY????

And don't count a the Republicans to do anything with a stimulus bill if/when they lose control in the election, it isn't like they are going to want to try to negotiate on the way out of Washington. Just my take, what do I know??? I was leaning back to weekly buying 30-45 day calls. When the right move, apparently is to guy 120-150 day puts into the election cycle. Or maybe just keep that powder dry?

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On 10/6/2020 at 12:53 PM, bernorange said:

I wasn't paying attention to the details, but was this a:

D wants X+Y, R wants X+Z

scenario, or a:

D wants X+Y, R wants X

scenario?

Either way, you'd think D+R might realize the importance of at least getting X done.

Exactamundo.

This is beyond ridiculous. Ds want $600/week in supplemental unemployment insurance, Rs want $200/week. Split the difference, call it $400. Then move onto the other bullshit stuff.

And at the risk of making this political, that Trump guy isn't exactly making good decisions because of his personal vendettas.

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28 minutes ago, Superhero said:

Exactamundo.

This is beyond ridiculous. Ds want $600/week in supplemental unemployment insurance, Rs want $200/week. Split the difference, call it $400. Then move onto the other bullshit stuff.

And at the risk of making this political, that Trump guy isn't exactly making good decisions because of his personal vendettas.

Maybe, and I’m just spitballing here, it’s  not remotely about enhanced unemployment payments.

Nancy wants 1 to 1.5 TRILLION more than R’s are willing to give to bail out blue state governments.

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4 hours ago, SaucyJack said:

I think that was a safe call by GS. Calm down the US and the world calms with it. Markets hate uncertainty. 

edit: and GS remains one of the problems. 

image.png.8d902a7a18c7a9f5e061204a244db971.png

 

Edited by washparkhorn
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Quote

GRAPEVINE, Texas and REDMOND, Wash., Oct. 08, 2020 (GLOBE NEWSWIRE) -- GameStop Corp. (NYSE: GME) (“The Company”) today announced that it has entered into a multi-year strategic partnership agreement with Microsoft Corp., further advancing its strategy to expand its physical and digital video game offerings, as well as enhance the Company’s retail technology infrastructure. With over 5,000+ retail stores worldwide and its world-class eCommerce platform, GameStop leverages its vast customer network, PowerUp Rewards, and omni-channel capabilities to deliver enhanced gaming solutions to its customers. Through this partnership, GameStop will standardize the Company’s business operations on Microsoft’s cloud solutions and hardware products to deliver rich new digital experiences to customers, creating the “ultimate gaming destination” for gamers in its vision to be the premier omni-channel customer access point for video game products.

The partnership includes enterprise and commercial elements.

  • Under this agreement, GameStop will standardize its back-end and in-store solutions on Dynamics 365, Microsoft’s portfolio of cloud-based business applications and customer data platform, empowering associates with integrated experiences across its business operations including finance, inventory, eCommerce, retail and point of sale. This will enable store associates the ability to access omni-channel insights about customer preferences and purchasing history, real time information on product availability, subscriptions, pricing, and promotions in order to provide a differentiated and personalized in-store customer experience.
  • Additionally, associates will be equipped with new Microsoft Surface devices that will transform the in-store experience and help unlock new retail experiences in the future. The mobility of Microsoft Surface will allow associates to move freely within the store footprint, meeting the needs of customers faster and more efficiently. Microsoft Surface devices have already been an important part of the digital modernization strategy for store management.
  • As part of its transformation, GameStop plans to roll out Microsoft 365 and Microsoft Teams to its stores, empowering more than 30,000 store associates with enhanced productivity and collaboration tools. With Teams, store associates will more easily be able to ask questions and share insights with one another, enabling them to provide a better customer experience. Associates will also benefit from enhanced security and identify management capabilities.  
  • Following decades as an essential provider of the Microsoft Xbox gaming platform and services, GameStop has expanded its Xbox family of product offerings to include Xbox All Access, which provides an Xbox console and 24 months of Xbox Game Pass Ultimate to players with no upfront cost. GameStop and Microsoft will both benefit from the customer acquisition and lifetime revenue value of each gamer brought into the Xbox ecosystem.

George Sherman, GameStop’s Chief Executive Officer, stated: “This is an exciting day at GameStop as we announce the advancement of an important partnership that capitalizes on the power of our operating platform and significant market share in gaming to accelerate our digital transformation; drive incremental revenue streams; and over time, further monetize the digital world of gaming. Since joining the Company last April, we have been on a mission to evolve our strategy to take advantage of our undisputed leadership position in gaming. Clearly, GameStop is a top destination for an entire spectrum of gaming products, and we are excited about the opportunity to leverage our capabilities in support of the launch of the next generation of gaming consoles and expand our reach and connection to the worldwide gamer community through this partnership.”

“GameStop has become a popular destination for gamers to find their favorite video games, hardware and accessories, socialize with others in the community, try out new games, and get educated on the latest tips and trends,” said Matt Renner, President, US Enterprise Commercial, Microsoft. “By harnessing the power of Dynamics 365 and Microsoft 365, GameStop will be able to modernize its technology infrastructure and support store associates and fans in new and exciting ways. This partnership also provides GameStop with advanced retail management technologies that will drive operational efficiencies throughout its omni-channel platform.”

Phil Spencer, Microsoft, Executive Vice President of Gaming, added: “For many years GameStop has been a strong go-to-market partner for our gaming products, and we are excited about continuing and evolving that relationship for the launch of the Xbox Series X|S. GameStop’s extensive store base, focus on digital transformation in an omni-channel environment and expert gamer associates remain an important part of our gaming ecosystem, and we’re pleased to elevate our partnership.”

Jim Bell, GameStop’s Chief Financial Officer commented, “We believe Microsoft’s integrated retail technology platform will enable the continued development of our frictionless omni-channel digital environment, providing customers with an exceptional cross-channel experience for all things video gaming.” Mr. Bell continued, “By standardizing on Microsoft 365 and Dynamics 365, all accessed with Microsoft Surface devices at our fingertips, we will be able to create a better connection with our associates and provide them with powerful new tools to deliver rich engaging experiences to our customers while significantly enhancing our cross-channel view of inventory ensuring the most efficient delivery of products to our customers.”

https://www.globenewswire.com/news-release/2020/10/08/2105861/0/en/GameStop-Announces-Multi-year-Strategic-Partnership-with-Microsoft.html

Gamestop just resumed trading after being halted due to volatility. Was up 21% on the day, back down to 17.5% as of now.

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Looks like "the Market" likes something that's going on......but I don't really have the slightest idea what that is
- Covid cases continuing to rise (albeit maybe at a slower pace, depending on how/what you track)
- politics are getting any better, unless Malaysia detaining Chinese vessels is now considered normal
- another hurricane/wildfire/earthquake/firestorm must already be priced in
- no progress made towards climate change - either slowing it, or consensus that it isn't real
- global tensions seem to be parked at a high level 
- economy still seems to be fucked - especially travel/airlines/etc

and it all seems to be priced in

Edited by Wally Fairway
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1 hour ago, Wally Fairway said:

Looks like "the Market" likes something that's going on......but I don't really have the slightest idea what that is
- Covid cases continuing to rise (albeit maybe at a slower pace, depending on how/what you track)
- politics are getting any better, unless Malaysia detaining Chinese vessels is now considered normal
- another hurricane/wildfire/earthquake/firestorm must already be priced in
- no progress made towards climate change - either slowing it, or consensus that it isn't real
- global tensions seem to be parked at a high level 
- economy still seems to be fucked - especially travel/airlines/etc

and it all seems to be priced in

No CR, but I'm seeing a lot of articles that are saying a Biden win will actually speed up the recovery. Even Goldman came out and said Biden would be good for oil prices, of all things.

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I think the biggest factor is that is is looking like Biden will win without any controversy (No CR it would do the same thing if it was clear Trump was going to win). The uncertainty was holding the market back and now that it is becoming clearer the market is reacting. 

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3 hours ago, Wally Fairway said:

Looks like "the Market" likes something that's going on......but I don't really have the slightest idea what that is

Mnuchin is going pretty hard on stimulus talk, with the backing of Trump.  It actually sounds like the WH is willing to do a deal to make this happen.  Whether Mitch will get in the way or not, who knows, but the timing would be good for some stimulus activity just as we are seeing cases creeping up, and folks/businesses having problems making the mortgage/rent/whatever.

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5 minutes ago, atomheartbevo said:

Whether Mitch will get in the way or not, who knows

noCR, but unless it started in the Senate or is pretty much the Senate version already passed by the House, I'm not holding my breath for anything to meaningfully get done.

Shit, we're likely looking down the barrel of a COVID outbreak at the Capitol based on seeing known COVID-positive senators going about their business without a mask

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5 minutes ago, Captainant said:

noCR, but unless it started in the Senate or is pretty much the Senate version already passed by the House, I'm not holding my breath for anything to meaningfully get done.

Shit, we're likely looking down the barrel of a COVID outbreak at the Capitol based on seeing known COVID-positive senators going about their business without a mask

Mnuchin's boss, and numerous large corporate donors, can make it really hard on Mitch if the House and Mnuchin/Trump strike a deal, and Mitch tries to torpedo it.  And there's enough close Senate races, that if Mitch and Co. torpedo it, it could throw the Senate to the Ds.

Money talks, bullshit walks or something, and we are coming up on the biggest retail season of the year.

  • Hook 'Em 1
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14 hours ago, Captainant said:

Shit, we're likely looking down the barrel of a COVID outbreak at the Capitol based on seeing known COVID-positive senators going about their business without a mask

If only - please don't tease us like that

Also - DJIA and S&P futures down slightly after a big day yesterday, NASDAQ futures go "hold my beer"

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Better to be lucky then good.  Pulled out at s/p 2600 and got in at 2800.  But instead on index funds jumped into individual names and very tech heavy.  And likely would have pulled some gains but didn’t want to pay ordinary income.  Anyways all the gains are on paper, and you can bet right after I’ve held a year and am ready to take some chips off the table, shit will crash.  A tale as old as time...

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33 minutes ago, drt said:

They’re just doing what all the other cool kids are doing. 

SEC should do it like how some countries scale speeding tickets to income.  Your penalty for , i dont know, dumping chemicals in the ocean or accounting malfeasance should be scaled to your market cap.  If you're a gigantic bank engaging in major fraud, you should be spanked upside the ass

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