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Coronavirus (Stay on Topic)

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LithiaWx said:
Dow futures down 4.1%. We have already lost over 3 trillion in value from the start of this disaster. That 4.1% represents around another trillion dollars
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They're barely above the intraday low of a week ago Friday. which was ~24.5K.

Crude's fall is insane! I don't recall that sharp a drop in one session. A decent portion of the Dow futures drop is likely tied to this.
 
pcbjr said:
Oh hell, what is money, anyways? Can't take it with you and likely much of it gets spent foolishly ... :oops:
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The drop is more than likely imo going to end up after the fact a good place to start doing a little dollar cost averaging type of buying for the long run. There's a lot of panic selling, especially in crude. Amazingly, crude is $3 off of its lows!
 
Webberweather53 said:
Crude oil prices are absolutely cratering, in some instances losing over 25% just this weekend!. Prices at the pump are going to tumble big time the next several weeks

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What's gonna happen when ME countries start shutting down their crude producing provinces. I know demand is down due to reduced travel but when that ends and people all.over china start driving again but theres no oil production then it could swingthe other way.

I've played a game in supply chain classes that show the accordian effects and how severely they disrupt things.
 
GaWx said:
They're barely above the intraday low of a week ago Friday. which was ~24.5K.

Crude's fall is insane! I don't recall that sharp a drop in one session. A decent portion of the Dow futures drop is likely tied to this.
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I’m showing 24,675 as that intraday low. Today the futures scraped bottom at 24,682. It’s close. Hopefully we can recover before tomorrow morning
 
Shaggy said:
What's gonna happen when ME countries start shutting down their crude producing provinces. I know demand is down due to reduced travel but when that ends and people all.over china start driving again but theres no oil production then it could swingthe other way.

I've played a game in supply chain classes that show the accordian effects and how severely they disrupt things.
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The Saudis are up to something. They areflooding the market with crude right now. Since they left OPEC tensions have been high over in that part of the world.
 
Downeastnc said:
Seriously? Wow.....
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Yes seriously. Ok so we test everyone and some have it some don’t. What do you do? More isolations. I say just assume they have it and wait and see if conditions get worse for that individual. It’s a known fact a lot have it and have no signs. So what good is it to test the ones that show signs when many are walking around with it and have no idea. To me it’s not logical. Because how many get tested and have it and get sent home? Do we test everyone for the flu? No. To me just saying all these numbers cause more panic and worries. We can test all we want but it’s not going to stop it. So do we continue testing every single person next year and the next and the next? It’s similar to the flu.
 
Matthew70 said:
Yes seriously. Ok so we test everyone and some have it some don’t. What do you do? More isolations. I say just assume they have it and wait and see if conditions get worse for that individual. It’s a known fact a lot have it and have no signs. So what good is it to test the ones that show signs when many are walking around with it and have no idea. To me it’s not logical. Because how many get tested and have it and get sent home? Do we test everyone for the flu? No. To me just saying all these numbers cause more panic and worries. We can test all we want but it’s not going to stop it. So do we continue testing every single person next year and the next and the next? It’s similar to the flu.
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How do you know that unless you test and get numbers to compare? This is worse than the flu. When have you heard about the flu getting in a nursing home and infecting 50-100 people and killing a handful of them?
 
Webberweather53 said:
Crude oil prices are absolutely cratering, in some instances losing over 25% just this weekend!. Prices at the pump are going to tumble big time the next several weeks

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There's significant chatter of crude prices falling below $20/barrel!




To put things into perspective, crude prices haven't been below $20/barrel since the late 1990s when the average price at the pump in the US was somewhere in the ballpark of $1.25/gal! Obviously after accounting for inflation & gas taxes, this figure will be higher in reality, but still you're probably looking at roughly 40-50 cent drop at the pump from where we currently stand in several weeks time if we continue along our current trajectory. Would place much of the SE US in/around $1.50 ish per gallon of regular unleaded gasoline.
 
Shaggy said:
How do you know that unless you test and get numbers to compare? This is worse than the flu. When have you heard about the flu getting in a nursing home and infecting 50-100 people and killing a handful of them?
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Only way to know if test everyone. Even ones showing no signs. Let’s just say a young adult goes to nursing home to visit a parent or one of the doctors or nurses has it but show no signs. How do you recommend we handle those?
 
Matthew70 said:
Yes seriously. Ok so we test everyone and some have it some don’t. What do you do? More isolations. I say just assume they have it and wait and see if conditions get worse for that individual. It’s a known fact a lot have it and have no signs. So what good is it to test the ones that show signs when many are walking around with it and have no idea. To me it’s not logical. Because how many get tested and have it and get sent home? Do we test everyone for the flu? No. To me just saying all these numbers cause more panic and worries. We can test all we want but it’s not going to stop it. So do we continue testing every single person next year and the next and the next? It’s similar to the flu.
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If you go to the doctor the first thing they do this time of year is a flu test, I am not saying test every single person in the USA....but you need to test every single person at nursing homes, hospitals etc, if someone has a cough or fever test them....and isolate as many positives as you can. Then test everyone in their families and you start trying to get as many carriers out of the public as you can, this will greatly slow the rate of spread....that's why these countries are locking down areas....its works because the virus cant spread as easily.

The part I bolded is short sighted....you think people will panic if we test and see a lot of cases, that sounds like Trump, what do you think they will do when everyone is sick, hospitals are overloaded and dozens are dying everyday, do you think folks will panic more or less then? Not testing means more cases period, the more you can test and isolate cases the better it is for the country.
 
Webberweather53 said:
Crude oil prices are absolutely cratering, in some instances losing over 25% just this weekend!. Prices at the pump are going to tumble big time the next several weeks

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Prices at the pump take an eternity to fall when crude goes down. However when crude goes up,the prices at the pump increase in real time pace.
 
Downeastnc said:
If you go to the doctor the first thing they do this time of year is a flu test, I am not saying test every single person in the USA....but you need to test every single person at nursing homes, hospitals etc, if someone has a cough or fever test them....and isolate as many positives as you can. Then test everyone in their families and you start trying to get as many carriers out of the public as you can, this will greatly slow the rate of spread....that's why these countries are locking down areas....its works because the virus cant spread as easily.

The part I bolded is short sighted....you think people will panic if we test and see a lot of cases, that sounds like Trump, what do you think they will do when everyone is sick, hospitals are overloaded and dozens are dying everyday, do you think folks will panic more or less then? Not testing means more cases period, the more you can test and isolate cases the better it is for the country.
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Not trying to be a jerk. Just playing devils advocate but don’t bring Trump into this. That’s BS. Why is it some of you find anything and everything you can to bash Trump? Just remember what comes around goes around when your president gets elected one day.
 
Matthew70 said:
Only way to know if test everyone. Even ones showing no signs. Let’s just say a young adult goes to nursing home to visit a parent or one of the doctors or nurses has it but show no signs. How do you recommend we handle those?
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Yup. I'm going to Georgia this week and I thought about not visiting my grandmother that's in a assisted living home just in case I'm carrying it. I would feel horrible if I gave it to everybody
 
NCSNOW said:
Prices at the pump take an eternity to fall when crude goes down. However when crude goes up,the prices at the pump increase in real time pace.
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The pessimism is well taken, but when you superimpose this onto the coronavirus which is already encouraging downward market pressure through lower demand, we're talking virtually unprecedented downward pressure on the crude oil market, prices are going to fall in a massive way here in the US unless something dramatic happens very soon. In the short run this is a good thing obviously but in the end, it's really going to place incredible stress on domestic oil production here in the US and basically make it unprofitable, and put so many out of business and work.
 
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