Heelyes
Member
Expect another record breaker today but hope it's not.
-
Hello, please take a minute to check out our awesome content, contributed by the wonderful members of our community. We hope you'll add your own thoughts and opinions by making a free account!
Coronavirus (Stay on Topic)
- Thread starter GaWx
- Start date
- Status
D
Deleted member 1449
Guest
It was as low as -600 at one point. A lot will depend on how the European markets close and any news throughout the day. Regardless of what happens with the virus, the market needed to come down anyway.
D
Deleted member 527
Guest
CNN says it all. Pathetic news.
NoSnowATL
Member
Some of you need to go study up on the Stock Market, what is happening isn’t new and happens a lot. Market corrections are needed to cleanse the market. Yes it sucks if you are planning on retiring soon but it’s needed. Doesn’t matter if a Republican is President or a Democratic is. We are overdue and it’s completely normal.
Sent from my iPhone using Tapatalk
Sent from my iPhone using Tapatalk
Sometimes you have to burn the undergrowth so the forest can flourish...
Webberweather53
Meteorologist
This isn't just some "normal" market correction, the cause of the dip in the stock markets is directly attributable to a virus that has the potential to become a global pandemic, the likes of which we haven't seen in a very long time. So no, this isn't "normal" in any way shape or form. In this case, it definitely matters who's president because it's very obvious Trump has no absolutely no idea what he's doing and cares more about the stock market than human lives & he and his department are woefully unprepared.
There are two numbers that show up in the futures market, depending on where you are looking. One is the futures value. The other is the futures value + Fair Value. The latter is the implied open. I don't pretend to fully understand how Fair Value is calculated, but it is necessary to add that number to the futures value to understand where the market will open. I believe Investing.com uses just the futures value, whereas CNBC combines both numbers to give you the more realistic implied open.
Either way, we need a bullish day to end the month on a better technical footing. Supporting a strong day is the fact that we've just had the fastest 10% decline in S&P history. Violent downside moves are met with rip your face off rallies....at some point. It's going to happen in the next handful of days. Could be today. Going against, the news flow continues to be negative and uncertain. Who is going to want to be a buyer going into the weekend under these circumstances? These two competing forces will be interesting to watch.
Investing.com is currently showing -268 again, which is lower. Hopefully, some Fed speakers will make the rounds today and hint at liquidity injections or lowering rates and stop the bleeding.
Either way, we need a bullish day to end the month on a better technical footing. Supporting a strong day is the fact that we've just had the fastest 10% decline in S&P history. Violent downside moves are met with rip your face off rallies....at some point. It's going to happen in the next handful of days. Could be today. Going against, the news flow continues to be negative and uncertain. Who is going to want to be a buyer going into the weekend under these circumstances? These two competing forces will be interesting to watch.
Investing.com is currently showing -268 again, which is lower. Hopefully, some Fed speakers will make the rounds today and hint at liquidity injections or lowering rates and stop the bleeding.
NoSnowATL
Member
You could also have said this about the real estate collapse years ago. Every correction is different but serves the same purpose.
Sent from my iPhone using Tapatalk
Webberweather53
Meteorologist
Many people also said this during the great recession in 2008 and we obviously know how that turned out. The reason the market is crashing isn't by any means normal nor are the losses that we're incurring. 13% drop in the dow since its peak in just 4 days w/ continued tumbling already evident today is very troubling or should be anyways, especially given that overseas markets are also continuing to be inflicted w/ heavy losses.
Heelyes
Member
There is definitely a light at the end of the tunnel for the market. The question is, is it a train?
Steven_1974
Member
He's a social scientist that specializes in anthropology. He's not a medical professional in any way. So his op-ed is what convinced you? Talk about irresponsible.
Webberweather53
Meteorologist
Dow futures are down about 600 points now. Not looking good for folks clinging to hope that there will be some massive rally today. Given how other markets are doing overseas (terribly), I'd consider that possibility highly doubtful and borderline wishcasting.
Heelyes
Member
It seems like there are two possible scenarios. The markets slowly decline for the next six months to a year but then rebound fast, most likely. The second possible outcome is near depression worldwide, unlikely but possible.
US market usually leads other major markets in environments where volatility is high. We'll see how the day unfolds, but from a technical standpoint, we are extremely oversold and due for a big bounce. I'm not saying that will stick, but nothing goes straight down.
Webberweather53
Meteorologist
I'm very doubtful we've reached the floor and today will be the day we bounce back. Starting off 600 points under is not a good look
No one in their right mind would buy stock going into the weekend under these circumstances. Once Monday rolls back around and the world is still spinning on a 23.5 degree tilt, we should all be able to move on with our lives. But if this weekend is riddled with bad news, then I’m afraid that might not happen. That’s why the political aspect of this thing really has me torn. We’re not just dealing with a virus at this point.
Heelyes
Member
The market is driven by a speculation based on the level of confidence in future growth. We are looking at a outcome that ranges from just a cold for most people and minimal impact on the economy to a pandemic that cripples the world economy.
Yellow Snow
Member
That's a rather simplistic analysis of the situation; other global capital markets are being hammered as well and Trump has nothing to do with those markets.
European stocks suffer worst week since 2008 financial crisis as coronavirus fears shake investors
A brutal week for investors is nearing an end in Europe, where stocks have faced their worst week since the 2008 global financial crisis on persistent...
www.marketwatch.com
Heelyes
Member
The most powerful man in the world doesn't effect world markets?That's a rather simplistic analysis of the situation; other global capital markets are being hammered as well and Trump has nothing to do with those markets.
European stocks suffer worst week since 2008 financial crisis as coronavirus fears shake investors
A brutal week for investors is nearing an end in Europe, where stocks have faced their worst week since the 2008 global financial crisis on persistent...
Webberweather53
Meteorologist
Today is shaping up to be extremely ugly, futures down 800-850 pts now.
- Status