What was it running prior to the drop?
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Misc Stock Market
- Thread starter ForsythSnow
- Start date
What was it running prior to the drop?
Almost $5 a share on January 6th
Reversal underway!
D
Deleted member 1449
Guest
FED is breaking out the bazooka. Market climbing off the lows.
I did this.... once. Dumped $1000 into an oil exploratory company, their stock had dropped to $1.50 with projections of going to 15 or 20 and a good friend of mine had already earned $5k off of it. Well it sank to .07 and never came back, oh what I could've done with that $1500 (if I'd just bought gold)
That would be a pretty good yield.
ForsythSnow
Moderator
What announcement?
$1 Trillion in repo over 2 days. lol
Ballgame for the bears. Don't. Fight. The. Fed.
D
Deleted member 1449
Guest
Are you maybe being a bit optimistic? (serious question)
ForsythSnow
Moderator
Well what ever happened didn't for long. Just dropped back down to -1362
D
Deleted member 1449
Guest
Guy on CNBC just said he sees definite signs of full capitulation in the market--take it for what its worth.
Maybe. If they can stem the tide here, we probably have a temporary floor at least. These ongoing repo operations are papering over some serious issues somewhere. It's taking more and more and more to plug the holes. I'm going to guess that we finish green today and then the news will be that it's the biggest turn-around ever in the history of the markets. And then we'll rally 10% before running out of steam. That's my guess. But I'm not that smart, so don't trade on it!
Nerman
Member
Markets are giving Trump an F
Trump's incoherent coronavirus response is accelerating the stock-market selloff
Trump doesn’t deserve blame for the virus. But he deserves all the blame for a halting U.S. reaction to it and the loss of confidence markets now reflect. Trump has minimized the impact of the virus, blamed the media and failed to explain why the government is so slow to ramp up testing. “Trump’s address to the nation was symptomatic of the lack of policy coordination,” Oxford Economics wrote in a note to clients. “Markets reacted negatively to what was perceived as a solemn but confused speech that... lacked in concrete fiscal and health measures to address economic and financial impact of the virus.”
Nerman
Member
Trump’s Europe travel ban was an immediate fiasco, promptly condemned by European leaders. Thousands of Americans in Europe panicked to get home before they got locked out. And Trump didn’t explain why he exempted Ireland and the U.K., leading to speculation that those two countries got special treatment because Trump owns golf courses there. Instead of a coherent travel policy coordinated among nations, Trump delivered a rash, standalone move that caught everybody off-guard.
I gave in and sold my stock already ??? Sold for an 8% return in about 3 hours. Man I can see how this can become addicting. I’ll prob do it again tomorrow
That lasted about as long as a fart in the wind.
I'm honestly shocked about that. I still would be pretty surprised if we don't see a run into the close at some point.
If we don't, I'm not sure if the Fed is going to be able to fix it this time. I honestly don't know. I hope we get a big rally in the next few minutes.
D
Deleted member 1449
Guest
The DOW is down almost 9 percent on the day.
ForsythSnow
Moderator
Seems to me that the fed can't fix this with words and actions especially since this is a worldwide issue. It's going to be painful watching the markets.
Sandbar
Member
Exactly why I take Dave Ramsey's advice and don't look at it......
ForsythSnow
Moderator
If you're not retiring soon there's nothing to worry about. However if you're looking to invest for long term stocks, waiting for it to bottom out would be good so you can buy cheap and sell high decades later.
Just to clarify and not to start a debate, American in Europe are not going to be locked out. There were exceptions for American citizens in the travel ban
B
Brick Tamland
Guest
And that had to be clarified after his address.
Fed action just doesn't matter imo, all one has to do is think about is all the sports getting canceled in this country. Seriously, we have no idea right now that economic impact, for all those towns that were going to host NCAA games or conference tournaments, I mean professional athletics (Billion dollar industries) are shut down and of course the fear of the unknown.... nothing the Feds do, nothing the Pres says, nothing stops it at this point imho.
I understood it clearly during his speech
He said this.. "There will be exemptions for Americans who have undergone appropriate screenings". Thought it was pretty clear but what do I know
B
Brick Tamland
Guest
Not sure how, because that's not what he said.
Webberweather53
Meteorologist
If we finish at a 9% loss or higher on the Dow today, the only days with higher percentage losses were Black Monday in 1987 & Oct 1929 right before the Great Depression. Very comforting... /s
85% of the NCAA’s budget comes from the college basketball tournament.
I added this part to my previous post
He said this.. "There will be exemptions for Americans who have undergone appropriate screenings". Thought it was pretty clear but what do I know
Nerman
Member
The FED had been propping up the markets for years now. The bubble was going to burst at some point. And this is probably the worst kind of needle due to our 77.4% service sector GDP>
Nerman
Member
Goodness, NASDAQ going to the cellar. SQQQ up 24% today. Dumping another 10%.
ForsythSnow
Moderator
-2352.27 -9.99% at close. Wow.
DOW closes down 10% my lord
Dang.
I'm stunned...for real.
The Dow closed at 29,551 on February 12.
The Dow closed at 21,200 on March 12.
The Dow closed at 21,200 on March 12.
NoSnowATL
Member
If I had a lot of money I would be buying like crazy now.
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