ForsythSnow
Moderator
Since the Coronavirus thread has a lot of stock market discussion, here's a thread dedicated to discussing it!
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Misc Stock Market
- Thread starter ForsythSnow
- Start date
Going to be a wild week. Futures limit down, crude near $31, gold near $1700, and the 10 yr yield is at 0.5%! How long until the Fed steps in? Tomorrow or Tuesday is my guess. I bet some big funds and some companies are going to blow up soon. Would hate to be holding junky debt right now.
Downeastnc
Member
So what happens the rest of the night do they just open at -2819 and go from there?
Dow futures down -1250. Tomorrow looks like Armageddon.
DAX down 5.7% German exchange futures
Nikkei down 5.9% - Japan exchange open
Nikkei down 5.9% - Japan exchange open
Downeastnc
Member
hell it was at -2819 around 8pm lol....I guess they can still trade but they are not allowed below that number.....or 5% loss.
I don’t believe that number is correct. That sounds like the S&P value at 8pm that’s about 5%
Downeastnc
Member
Yeah maybe it was S&P not Dow.....so the real question is this the beginning of a long term down correction and if so how much...10%, 20%?
Already close to 20%. Limit down is 5% in the futures market. Won't trade below until the cash open. We'll see if the big guns come out and stick save before the open. If not, it will be a bloodbath.
Windergawx
Member
Either fed steps in early am or this thing hits breakers, virus and oil this is market doom. I pulled all money out weeks ago play smart let this blow over
yep I moved to 70% bonds 20% stocks and 10% cash about ten days ago.
7% drop tomorrow triggers a breaker of 15 minute halt
Then I think second breaker is 14% then third at 20% halts trading for the day.
Then I think second breaker is 14% then third at 20% halts trading for the day.
Windergawx
Member
its like a room full of sleeping cats and someone tossed in a firecracker and locked the door
Japan took a massive hit
So when was the last time that the stock futures stopped because they reached the limit?
Windergawx
Member
Bank runs incoming
About time to being in the tomato plants
About time to being in the tomato plants
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Deleted member 1449
Guest
Red, red, red across the board. Monday, bloody Monday.
Webberweather53
Meteorologist
The single-largest daily percentage drops in the dow since the late 1980s all occurred in 2008-09 and were about 7-8%, we're already at 5% before the markets have even opened. This is gonna be ugly...
Webberweather53
Meteorologist
Looks like we hit the circuit breaker overnight, wonder how many we end up tripping today.
Well, at these prices, domestic oil production is toast. That side of the bond market is fubar.
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Deleted member 1449
Guest
Which is exactly what Putin and OPEC wanted.
Webberweather53
Meteorologist
Gas is already nearing $1.70 in parts of the Triangle area now, prices at the pump are already plummeting
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Deleted member 1449
Guest
Gas prices in the Triad remain higher for now, which really amazes me given that the gas pipeline and storage is located in the Triad. $2.19 at my local station this morning.
Webberweather53
Meteorologist
Exchange trade funds (which continue trading regardless of market circuit breakers) are hinting that the Dow will start off the day at about a 1600-1800 point loss. It's about time to hit the panic button.
Lol about time??!
Webberweather53
Meteorologist
We're gonna hit the next circuit breaker as soon as the markets open. It's definitely panic time.
https://www.cnbc.com/quotes/?symbol=DIA
https://www.cnbc.com/quotes/?symbol=DIA
Nerman
Member
Trump thought Putin was his buddy. I know, political. But that guys just wants to watch the world burn around Russia. No surprise here.
I'm all in SQQQ triple inverse Nasdaq.
Nerman
Member
The New York Fed announced Monday that it would increase its daily overnight repo operations to at least $150 billion from $100 billion in the first four days of the week.
www.marketwatch.com
New York Fed raises size of repo operations for this week
The New York Fed announced Monday that it would increase its daily overnight repo operations to at least $150 billion from $100 billion in the first four...
www.marketwatch.com
Yellow Snow
Member
That makes no sense - plummeting prices are bad for Russia and devastating to OPEC member states.
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Deleted member 527
Guest
Exactly. I don’t get all the panic over this virus. It’s ridiculous.
Nerman
Member
Putin takes aim at US shale oil industry
Oil prices crashed Sunday evening after Saudi Arabia launched a price war against Russia following the Kremlin’s decision not to agree to production cuts.
www.foxbusiness.com
Russia’s move looks to be a calculated one – both a response to U.S. sanctions and designed to target the U.S. shale industry, which is currently under significant financial distress.
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Deleted member 1449
Guest
They can absorb a short term hit but US shale companies cannot.
Nerman
Member
Battle of the deepest pockets.
Yellow Snow
Member
The WSJ had a good article on the subject yesterday - this could be the end of OPEC.
OPEC, R.I.P.
Sunday’s spectacular oil-price collapse marks the effective end of the cartel’s power and a devastating setback for the U.S. shale patch.
www.wsj.com
Webberweather53
Meteorologist
S&P 500 ETF down nearly 8% at opening bell. Mayday
Dow is down 7%.