I read some news that some folks had received a deposit of $Trumpbucks in their accounts. Has anybody here received theirs?
I files 2019 taxes a few months ago but owe a couple of thousand so IRS doesn’t have my direct deposit info, though I am on a payment plan with them from my wife’s poor decision making before we got married. They pull the monthly payment direct from one of our bank accounts. Any chance they might deposit the $Trumpbucks there?
I read something today that said the earliest deposits would hit would be Monday. It also said that IRS spent the latter half of last week pinging the bank accounts they had on file to make sure they were active and correct for the deposits that are about to start next week. Maybe they finished early and started on deposits?
Do US markets trade Monday? I know Australia doesn’t as we have a public holiday (in lieu of Easter Sunday). Curious what happens this week. When are we seeing the downside of the biggest stimulus ever or is it just going to be inflated away and the markets will move on like barely anything happened?
Yep, and futures trade tonight.
Weekend Wallstreet which is a fair predictor of the Dow futures opening price is about flat right now.
Currently wishing i had bought some june puts instead of May. My best guess is we get another fake dose of optimism before reality sets in a month from now.
That is always the problem with options, your theory can be right but the market can take too long to realize it and your puts or calls expire out of the money
ES opened up 32 pts from the close (~1%) but is now down 48 pts from the close.
Edit: lol in the time I typed that it dropped another 10 pts
What’s ES?
Oh sorry, E-Mini S&P 500 futures
What’s E-Mini lol
IDK lol good question. The little I know about markets is via osmosis from helping my wacko technical analyst (luckbox) friend trade. ES is one of the instruments he trades, so I have access to the real-time data and his astrological drawings on the charts, but fuck if I even know what the instrument is lol.
From reading the wiki right now, my takeaway is that E-Minis are like poor man’s future contracts. The margins are high now with all the covid volatility, but pre-covid you could buy/short an ES contract by putting down less than 5k in margin. Each point is worth $50 and each tick is $12.50. IDK how those figures compared to the non-mini version.
So the sellers of the house we were very close to buying called our agent two days later and asked if we were still interested and they would waive all the contested issues. We said no.
In lol realtor news, they all say “great time to buy,” even though prices haven’t actually come down yet.
I would offer them 100000 less than you offered them last time.
This is why I suck at everything related to negotiations. I feel pain just reading that.
So is this the week the market finally goes for a tumble? I’m convinced the bubble will burst eventually so I’m not touching my market short positions until that happens, but like Wichita said, we might be seeing a short period of fake optimism before everything comes crashing down.
inb4 banks announce profits are down 30% and the stock price rises
Goldman coming out and saying the market won’t retest the lows has to be pretty bearish. They have basically been wrong every step of the way during this crisis.
Also earnings season season starts this week. Seems like some of the forward outlooks for these companies should be pretty bleak and that could be a catalyst for rattling the markets some.
Another of my projects is likely canceled.
Our clients and vendors are a broad array of industrial businesses. Shipping lines, the oil industry, big manufacturers. Everybody is talking about really dire predictions within their own companies. Limiting cash expenditures to the bone in Q2 and Q3–even on already committed projects that are 50% done and have massive sunk investments. They’d rather slow projects down and avoid a cash crunch, even if it means a delay in production 12-24 months down the road. To them, that is completely abstract, weighed against glaring negative cashflow right now. They said that for current production, basically any contract that doesn’t have a committed volume associated with it has ceased.
Nobody is buying anything except what they immediately need. Nobody is producing anything except what somebody else has immediately committed to buy. These two things are causing a feedback loop.
And yet people somehow are drawing the conclusion for the overall economy that this won’t be that bad. It’s perplexing.