stock market was up today...

#10,479
#10,479
Thunder Good-Oil said:
Well, that's rather f***** up. Seems more like something that China would do.
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It’s a horrible look for the Fed. Direct intervention for corporate support. And if they don’t spread it around wide they’re basically picking winners and losers. Absolutely horrible look.
 
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#10,481
#10,481
Everytime something like this is released dimocrats prove you can't have nice things.

The comments are full of dims saying that it's still down 6.1% from May 2019! Really, You don't say!



 
#10,484
#10,484
These markets don't make a bit of sense. We've figuratively and literally got a house on fire and we're marching towards all time highs again...
 
#10,485
#10,485
Rasputin_Vol said:
These markets don't make a bit of sense. We've figuratively and literally got a house on fire and we're marching towards all time highs again...
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We've never put trillions of dollars into consumer's hands like this before. AND, the events are effecting every country in the world so none are getting an advantage over ours. AND despite all if the noise coming from the liberals, maybe Trump is actually managing the situation very well. The MSM practically ignores lining up US manufacturers to produce ventilators and creating extra hospital capacity in mere days while carrying on endlessly about benign questions and comments about administering some form of disinfectant.
 
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#10,486
#10,486
Thunder Good-Oil said:
We've never put trillions of dollars into consumer's hands like this before. AND, the events are effecting every country in the world so none are getting an advantage over ours. AND despite all if the noise coming from the liberals, maybe Trump is actually managing the situation very well. The MSM practically ignores lining up US manufacturers to produce ventilators and creating extra hospital capacity in mere days while carrying on endlessly about benign questions and comments about administering some form of disinfectant.
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The average person got $1200 at a time where all they could spend their money on was food deliveries, Netflix, and widgets off of Amazon. That was a one time bump to the economy that doesn't even factor in any future foreseeable expansion... unless of course we're just going to keep helicopter money as a policy and just go full on universal basic income. And btw, most of those people laid off still haven't gone back to work. That represents lost economic production. So where is this stock market rally coming from?
 
#10,487
#10,487
Rasputin_Vol said:
The average person got $1200 at a time where all they could spend their money on was food deliveries, Netflix, and widgets off of Amazon. That was a one time bump to the economy that doesn't even factor in any future foreseeable expansion... unless of course we're just going to keep helicopter money as a policy and just go full on universal basic income. And btw, most of those people laid off still haven't gone back to work. That represents lost economic production. So where is this stock market rally coming from?
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It doesn't matter if the average person got $1,200. It is the largest economic stimulus package in the history of the world and most of it was put into the wallets of consumers and most of those immediately put it back into the economy. Our economy is driven by consumerism more than anything else. It was the government sending people home to mitigate the spread of the virus while preventing many businesses from failing and also injecting money into the economy. We'd be in a completely different place if businesses and industries where all allowed to collapse while our healthcare system became overwhelmed and consumers died off on a massive scale. So equity markets are reacting optimistically that the worst case scenario is behind us and economic growth is ahead.

Those being given the extra $600/week in unemployment benefits will be back at work real quick once that program is ended. Cutting it off likely leads to another benefit in that Antifa and BLM will whither away.

The stimulus saved businesses which saved jobs which pay dividends in the form of taxes back to the government. Doing nothing and we'd really be in a mess.
 
#10,488
#10,488
Thunder Good-Oil said:
It doesn't matter if the average person got $1,200. It is the largest economic stimulus package in the history of the world and most of it was put into the wallets of consumers and most of those immediately put it back into the economy. Our economy is driven by consumerism more than anything else. It was the government sending people home to mitigate the spread of the virus while preventing many businesses from failing and also injecting money into the economy. We'd be in a completely different place if businesses and industries where all allowed to collapse while our healthcare system became overwhelmed and consumers died off on a massive scale. So equity markets are reacting optimistically that the worst case scenario is behind us and economic growth is ahead.

Those being given the extra $600/week in unemployment benefits will be back at work real quick once that program is ended. Cutting it off likely leads to another benefit in that Antifa and BLM will whither away.

The stimulus saved businesses which saved jobs which pay dividends in the form of taxes back to the government. Doing nothing and we'd really be in a mess.
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Nothing you said remotely explains how a country that was shut down for 90 days ( and counting in some aspects), 30-40 million unemployed, tanking oil prices and consumption and riots in the streets could be in the middle of a market rally right now.

And to your last paragraph, you defend printing money out of thin air to prop up a zombie economy that was already shaky before the riots and corona? Will the short term gain outweigh the long term pain of such an inflationary and debt bursting action?
 
#10,489
#10,489
Rasputin_Vol said:
Nothing you said remotely explains how a country that was shut down for 90 days ( and counting in some aspects), 30-40 million unemployed, tanking oil prices and consumption and riots in the streets could be in the middle of a market rally right now.

And to your last paragraph, you defend printing money out of thin air to prop up a zombie economy that was already shaky before the riots and corona? Will the short term gain outweigh the long term pain of such an inflationary and debt bursting action?
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Markets are forward looking and minus a viral wave that shuts the economy back down from here, that's exactly why equities are rallying back to the previous levels. And cheap fuel might be bad for that industry specifically (which is lagging) but it stimulates many others.

The market rally is not across the board. All companies are not hitting all time highs. Those that are aren't effected as negatively by the virus and some actually benefit.

The riots in the streets aren't an epidemic. It's pockets of petulant kids in a few hot spots around the country, especially those where *****ing on the sidewalks had become normal. Their short attention spans will result in them moving away from the Spring of Love sooner rather than later.

If you are out and about you should notice how much economic activity is going on. Check out Home Depot and Lowe's any day. Especially on a Saturday morning. Those aren't signs of a irreparable economy.

If the government is going to load up their balance sheet with more debt then it's best for it to occur with rates near zero. It's not the 1970s. I think that you can calm down about runaway inflation. We don't have soup lines. We've had farmers dumping and destroying their end products. We have untapped capacity in energy production. We have pent up demand and lots of accumulated wealth that can be spent. I don't think that our republic is losing ground to any major player in the world economy.
 
#10,491
#10,491
The market’s in ‘la-la land,’ and one Warren Buffett buff warns of an imminent ‘reckoning’ for oblivious investors

Those betting against this “absurdly overvalued” stock market are about to get paid, if Kevin Smith, Crescat Capital’s chief investment officer, has it right in his gloomy assessment.

“Speculation is rampant and being championed by a bold new breed of millennial day traders,” he said. “The mania is based on a widespread hope in Fed money printing. The catalysts for reckoning are numerous as a major cyclical economic downturn has only just begun.”

Smith, who recently talked about learning the ropes from a stack of Berkshire Hathaway BRK.A, -1.73% BRK.B, -0.34% shareholders letters his dad gave him long ago, said, in a very un–Warren Buffett fashion, that shorting stocks “is worthy of a significant allocation today.”

Smith used this chart of plunging S&P 500 SPX, 0.02% profit margins to show “how insanely disconnected equity prices are from their underlying fundamentals.” He warned that buy-the-dip investors are “not paying attention and have simply been too eager to call the bottom.”

MW-II854_June2_20200618120202_NS.png

and

Barstool Sports founder believes he’s a better investor than Warren Buffett and has determined day trading is ‘the easiest game’ there is

Back in the fall of 1929, Yale economist Irving Fisher famously said “Stock prices have reached what looks like a permanently high plateau.” We all know what happened in October of that year.

“Frame it,” Evans said of Portnoy’s take. “Then run like hell.”

After Portnoy’s tweet spread across Finance Twitter TWTR, -0.67%, he doubled down on his Buffett bashing on Tuesday, calling him a “washed up” investor who’s no longer relevant.

“I’m not saying I had a better career. ... He’s one of the best ever to do it,” he said. “I’m the new breed. I’m the new generation. There’s nobody who can argue that Warren Buffett is better at the stock market than I am right now. I’m better than he is. That’s a fact.”

# # #

Ignorant millennials / Robinhood daytraders gonna get wiped.
 
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#10,495
#10,495
Shorting because the S&P index has diverged from the historical and projected S&P profit margins? Alrighty then. Maybe he didn't notice that the country shut down for a quarter.

The other dude thinks he knows more than Buffett because he's done okay over a couple of years? Let's see what he does over a couple of decades. That clown probably can't even understand a financial statement.
 
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#10,498
#10,498
VolStrom said:
Which proves they are managed by idiots. Everything they ever do becomes a cluster.
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Apple stock drops after report says company will re-close some locations
Published: June 19, 2020 at 12:42 p.m. ET

Shares of Apple Inc. AAPL, -0.61% are off 0.6% in Friday trading after the company was reported to be planning re-closures of some locations due to a resurgence in COVID-19 cases. The company is re-closing certain stores in Florida and Arizona, a CNBC report said Friday. A tweet from Bloomberg said that the company would also be re-closing some stores in North Carolina and South Carolina. The company was among the first to temporarily close locations outside of China earlier this year, and it had been gradually reopening stores.

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And so it begins...
 
#10,500
#10,500
Thunder Good-Oil said:
Shorting because the S&P index has diverged from the historical and projected S&P profit margins? Alrighty then. Maybe he didn't notice that the country shut down for a quarter.

The other dude thinks he knows more than Buffett because he's done okay over a couple of years? Let's see what he does over a couple of decades. That clown probably can't even understand a financial statement.
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Heh. This is the laughable part... he's been daytrading in the market for all of 3 months. If for no other reason, this sort of insanity normally spells the top of any bull market.

"When the coronavirus suspended all major sports leagues — specifically, the ability to gamble on them — Barstool Sports founder Dave Portnoy saw an opportunity: the stock market.

Portnoy said he deposited $3 million into an E-Trade account, and he changed the name of the company's daily gambling radio show on Sirius/XM from "Picks Central" to "Stocks Central."

On March 23 Portnoy proclaimed, "I have become a full-time day trader," adding that his day-trading odyssey would be live-streamed every day "for the duration of quarantine." Portnoy also included in his announcement a candid admission that "to be very clear, I have zero clue what I'm doing."
 
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