stock market was up today...

#9,157
#9,157
allvol123 said:
Virus undoubtedly played a role. When billion dollar enterprises start closing shop, people are going to notice.
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The tweet concerned the speed of the market movement. Things like leverage and options (and cheap money) all add kerosene to movements, both going up and down.
 
#9,160
#9,160
allvol123 said:
Virus undoubtedly played a role. When billion dollar enterprises start closing shop, people are going to notice.
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The virus was a convenient excuse for people (or certain people) to start selling off. The market was just too high to begin with. No reason for us to be at 29000 when department stores and other businesses are closing shop. The argument that Amazon is taking away business is not going to fly anymore.
 
#9,161
#9,161
Rasputin_Vol said:
The virus was a convenient excuse for people (or certain people) to start selling off. The market was just too high to begin with. No reason for us to be at 29000 when department stores and other businesses are closing shop. The argument that Amazon is taking away business is not going to fly anymore.
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It is not just convenient, it is realistic. Yes the market was over valued, but when iconoc American entities valued in the billions close shop on hours notice...effing people are going to get nervous as hell.
 
#9,166
#9,166
Will history repeat itself?

Trump address at 3:00 PM.

Will markets tank again?

I'd say no... which probably means they will.
 
#9,168
#9,168
The drop earlier this week was a bit too extreme. There is an obvious trend line on here and while we’re still in discovery I’d expect it to continue until the number of new cases flattens out at least. Plus with the clamp down this week on public and business activity I’d guess we won’t start to see impacts for a bit of time more. So until we plateau on new cases I’d guess this trend will continue. I’ll still buy in if it hits my trigger but that’s about 13 or 14% away right now. 9F983C34-91FF-4D91-9B78-BA785C667CB7.jpeg
 
#9,171
#9,171
Thunder Good-Oil said:
Very good sign that it didn't sell off going into the weekend. I expected to see another 2-3% drop today.
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So you considering calling a bottom or think the trend I linked above will continue for the near term? I am really thinking the latter. But I have zero expertise to base that on.
 
#9,172
#9,172
NorthDallas40 said:
So you considering calling a bottom or think the trend I linked above will continue for the near term? I am really thinking the latter. But I have zero expertise to base that on.
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Events and how they are reported will determine if it's an absolute bottom. I kind of think it's in or a double bottom will form quickly. I really can't imagine news being more extreme than this week. After 9/11 nothing close to this amount of commerce shut down. I think that the 20k-30k trading range narrows leading up to the elections and settles around the middle for the next 12-18 months. It would be good to get the recession logged in Q1 and Q2. Profits are going to get obliterated in 2020, so valuations will take some time to recover.
 
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