500 more points immediately. We may be done by 11
Think we’ll find resistance at 20k.
News outlets seem shocked it dropped after dropping the rate to 0% lol wtf
Maybe we need another CEO parade.
I cancelled my buy orders before open.
Instead of getting in every 2% drop from ATH 20 down to 50 (currently got in down to -26%) I’m thinking I’m going to sit out til -35% (that should be just before the 20% halt tody) and make the increments I buy at each 3% drop from ATH (which will be bigger % drops each day obv as it’s calculated off ATH)… This lets me cover it all the way down to -66%. That’s DOW 10K territory. I don’t think it’s necessarily going that far, but I want to reduce my downside risk a bit. I don’t want to get all my money in at -50% and watch it go to -90%.
I wonder if it’s bad having a vain moron in charge in a time of crisis?
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Holding at 20450. Whats the next freeze, 13%?
Ignorant question, what would be the effect of just closing/halting trading for like a month or two till we get through the worst of the pandemic?
Gold down another 4% despite 0% rates and new QE is pretty surprising to me. Not what I would have predicted. I expected an initial flight to cash but then gold to go up as Fed implemented policy measures to weaken the dollar
Little bounce here in the face of 20
The main effect would to be take information out of the hands of policy makers, so not great.
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I think it would be bad. What about retirees or people with college funds who may need to sell assets to cover short term expenses or probate type scenarios where assets need to be liquidated?
What is other markets around the world don’t follow suit?
There is also negative news with cases spreading in hotter countries. This idea that we just need to lock down for a month or two is looking less like a viable strategy. If our choices are lock down for 6 months or give up and let most of our old people die, either way we’re in for a massive restructuring of what our society looks like.
I would expect/hope that if they took such drastic measures, it would be accompanied by some governmental support to citizens (I know i know).
Is there any argument at all that 20% unemployment or whatever it ends up being has been priced in at this point other than loleffecientmarketaments?
It won’t just be a lockdown though, effectiveness of treatment and capacity will increase over time though. We will be building respirators and experimenting further with antivirals. Once the initial wave is passed, systems will adapt to be able to handle the new normal if this is what it will be
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DJIA at:
Election day 2016 - 18,589
Inauguration day 2017 - 19,827
We are VERY close to these numbers now.
Remember when Trump sent Fox News a signed chart showing market gains on Friday
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People who need to sell stocks to cash out and pay living expenses due to the economy being in the tank are unable to do so.
In his defense, he timed the signed chart well. Sign the chart at the peak! Distance yourself at the dip!
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