stock market was up today...

[Thunder Good-Oil]

Maybe we need to get out of the war business. Instead of losing blood and treasure in the sandbox over the last 30+ years, we could have been using the same time, money and intellect for more peaceful activities.

No doubt China, Russia, North Korea, and Iran would all behave themselves in your vision of Utopia.

 

[norrislakevol]

Probably. But we've got a ways to go down I think. Plus, the market during the first year of a new administration (ahem) usually is weak.

At this point, I'd probably start nibbling at a 40% retracement (~18K DJIA). It may sink to 50% off (~15K), but in either case, if you're a LT investor, you'll do great.

The most vulnerable companies (e.g. airlines, cruise ships) are really, really looking cheap now. Royal Caribbean off 80%? Wow. If they make it through this, they're double- or triple or quad-baggers.

Personally, I prefer mutual funds these days. So much easier risk-wise.

I'm a gambler. Going to load up on the SPXL 3X bull shares when they bottom out and hang on for the ride back up when it comes.

 

[norrislakevol]

Some may see this as an opportunity, others with just 401k's may not. Losing 30 to 40% of one's entire investment, with additional losses on the horizon, may cause those in the latter half to lose faith in the system. After witnessing 15 years of my own investments disappear within a matter of weeks is more than just a concern at this point.

It's never a loss unless you sell it for a loss.

 

[MontyPython]

I'm a gambler. Going to load up on the SPXL 3X bull shares when they bottom out and hang on for the ride back up when it comes.

Done.

 

[Velo Vol]

Yes we were using both go into Canada, just depended on where we were delivering . Funny story about the Thousand islands crossing .. there is of course a last exit you can get off before being hearses like cattle and funneled down to the border crossing. You should always take the time to make sure your paperwork is in order BEFORE you pass that exit . The jersey walls prevent you from turning around after it until you get to the crossing . You can turn around at the crossing there’s a ( no mans land ) between the US border and Canadian. By no mans land I mean that when ( if ) you have to turn around you are already past the US border crossing on the other side and you haven’t entered Canada yet . So when you try to go through the border check point without a passport .... we’ll just make sure you have it on you at all time or that you have a whole day to waste . TRUST ME. , it won’t be pretty .

How long have you had to wait at the border? The last time I crossed there was a long line of trucks. But that was almost 20 years ago and I have no idea what it's like now.

Back then duty free stores were still a thing.

My uncle lives less than an hour from Thousand Islands. It's kind of cool.

 

[0nelilreb]

How long have you had to wait at the border? The last time I crossed there was a long line of trucks. But that was almost 20 years ago and I have no idea what it's like now.

Back then duty free stores were still a thing.

It depends on the day really . The Peace Bridge always seems to be the more fluid even though it’s so busy, their processing just seems to be faster . Thousand Island is more funneled down into a crossing with no place to turn around or get out of because of the Jersey walls after you pass that last exit .

 

[Velo Vol]

I have no idea what the stock market will do, because it has a mind of its own. But as far as the economy goes, you should not be under illusion that we're looking at a couple bad months, and then everything will snap back to normal.

This is going to do damage that will be felt for years, similar to 2008

 

[FLVOL_79]

Brightside to all this is that since all the commie dims are basically out of the race it doesnt matter who the next prez is..the market will go up

 

[headhunter15]

The Dow keeps staying around the high 19,000s. Is that the bottom or somewhere close?

 

[hog88]

I have no idea what the stock market will do, because it has a mind of its own. But as far as the economy goes, you should not be under illusion that we're looking at a couple bad months, and then everything will snap back to normal.

This is going to do damage that will be felt for years, similar to 2008

Recovery doesn't have to take years. What delayed recovery after 2008 was Obama, him increasing regulations and his ACA plan (and the multiple delays in implementation). If the .gov will step aside and not try and "guide" the recovery it will happen quickly.

How fast we recover is 100% dependent on this November's election.

 

[hog88]

Brightside to all this is that since all the commie dims are basically out of the race it doesnt matter who the next prez is..the market will go up

It does matter because Joe will try and implement some "legacy" legislation that will slow things down and god forbid the dems hold the house AND take the senate.

 

[FLVOL_79]

It does matter because Joe will try and implement some "legacy" legislation that will slow things down and god forbid the dems hold the house AND take the senate.

I'm not sure he will. I'm pretty sure he wont even realize he is president. Dang..that might be bad.

 

[norrislakevol]

Done.

You already bought the Bull shares?

 

[Thunder Good-Oil]

I had no idea that UBER had fallen all the way to $15 yesterday. It's up 30%+ today. Still down 50%+.

UBER Eats should be doing very well right now. Restaurants are empty, but people are still eating.

Cheap gas will make participating more profitable for drivers.

With so many losing jobs, UBER will have plenty of drivers available. But until the virus panic subsides, the traditional side of their business will be slowed.

UBER Freight seems like a great business model that is complementary to their technology.

They have a lot of cash and available credit to weather the chaos and certainly have a long term business model. They're a player in autonomous automobiles.

 

[Aesius]

The Dow keeps staying around the high 19,000s. Is that the bottom or somewhere close?

It will dip again as more lockdowns, quarantines, and potential travel bans take effect.

 

[Thunder Good-Oil]

It will dip again as more lockdowns, quarantines, and potential travel bans take effect.

I'm starting to think that the worst case scenario is close to being priced in. I drove around yesterday and EVERYTHING is closed or scaled way back. I don't know how things can deteriorate a whole lot more from here. Bankruptcies should be expected. A recession should be expected. Everytime news of these things drops, another buying opporrunity window will open up.

 

[Rasputin_Vol]

No doubt China, Russia, North Korea, and Iran would all behave themselves in your vision of Utopia.

Taiwan, Ukraine, South Korea and Saudi Arabia, respectively, are those countries' biggest concerns... they should not be ours.

 

[Velo Vol]

What ever has happen to oil the last two days is a remind that that's a game I best not try to play.

 

[volfan2024]

The malaria trial med coupled with the antibiotic South Korea seems to be working in a small test but all 6 tested negative after so many days so that news may flip it.

 

[NorthDallas40]

What ever has happen to oil the last two days is a remind that that's a game I best not try to play.

I believe the government committed to buying 30M barrels to restock national reserves?

 

[Rasputin_Vol]

What ever has happen to oil the last two days is a remind that that's a game I best not try to play.

And that still may be too high. There's worries floating that if Russia and The Saudis keep it up, we will be in the low 20s...

 

[Rasputin_Vol]

The dividend will be gone soon. It's the first thing to cut when cash flow dries up.

Remind people of that if they decide to dip their toe in XOM...

 

[Rasputin_Vol]

Some may see this as an opportunity, others with just 401k's may not. Losing 30 to 40% of one's entire investment, with additional losses on the horizon, may cause those in the latter half to lose faith in the system. After witnessing 15 years of my own investments disappear within a matter of weeks is more than just a concern at this point.

You should not have faith in this system. They will not save you. There is no bailout for you.

 

[Rasputin_Vol]

The Dow keeps staying around the high 19,000s. Is that the bottom or somewhere close?

From a few days ago...

This isn't over by a long shot. 15000 is very much in play.

It wouldn't surprise me if it goes lower.

 

[Rasputin_Vol]

I had no idea that UBER had fallen all the way to $15 yesterday. It's up 30%+ today. Still down 50%+.

UBER Eats should be doing very well right now. Restaurants are empty, but people are still eating.

Cheap gas will make participating more profitable for drivers.

With so many losing jobs, UBER will have plenty of drivers available. But until the virus panic subsides, the traditional side of their business will be slowed.

UBER Freight seems like a great business model that is complementary to their technology.

They have a lot of cash and available credit to weather the chaos and certainly have a long term business model. They're a player in autonomous automobiles.

No, restaurants are closing. Before long, Uber Eats won't have anything to deliver...