Wall Street dives, ends worst week since 2008, as New York, California impose restrictions

[lannarebirth]

22 minutes ago, bartender100 said:

DOW futures already another 5% down, I thought Buffet called the bottom?

That was Friday. Futures trading doesn't beging again until 1700 CT tomorrow in US.

[Cryingdick]

1 minute ago, lannarebirth said:

That was Friday. Futures trading doesn't beging again until 1700 CT tomorrow in US.

 

really???? I just sold off all my futures based upon such sage advice.

[lannarebirth]

1 minute ago, Cryingdick said:

 

really???? I just sold off all my futures based upon such sage advice.

 

That may still work out.

[Cryingdick]

27 minutes ago, bartender100 said:

DOW futures already another 5% down, I thought Buffet called the bottom?

 

So we have established when the futures trade now, the next available opportunity and that's Monday morning at 4 am. That's the premarket for most mortals. The problem trading it these days is it's already up or down a thousand points. Your stop losses might not be good.

 

 

[Cryingdick]

5 minutes ago, lannarebirth said:

 

That may still work out.

I will let you know if it all worked out for me 5pm Sunday. This is the reason Fridays are always so so. People are afraid of that time period that you can't do anything. The market should really be 24/7/365.

Edited March 22, 2020 by Cryingdick

[gk10002000]

Luckily back after the 2008 market drop, I did not have much invested so the crash did not affect me and starting in 2009 when I started making good money I was lucky to buy a lot of things at a good price.  This drop the last two weeks did shave about 18% off my equity values on paper.  But I am not selling and do not need to cash out as I am still working so time is on my side.  I have started buying some things slowly and nibbling at prices.  I added several hundred shares of ATT, and AGNC for example.  House price timing may work in my favor as I am close to buying my retirement home in Florida.   Over the years since I started working in 1982 I have seen several market crashes, home crashes etc.  Every time I was about to buy, the economy was always against me or I was moving, etc. so I did not buy.  Now maybe in the next year or so the economy and my near retirement may work in my favor

[Cryingdick]

9 minutes ago, gk10002000 said:

Luckily back after the 2008 market drop, I did not have much invested so the crash did not affect me and starting in 2009 when I started making good money I was lucky to buy a lot of things at a good price.  This drop the last two weeks did shave about 18% off my equity values on paper.  But I am not selling and do not need to cash out as I am still working so time is on my side.  I have started buying some things slowly and nibbling at prices.  I added several hundred shares of ATT, and AGNC for example.  House price timing may work in my favor as I am close to buying my retirement home in Florida.   Over the years since I started working in 1982 I have seen several market crashes, home crashes etc.  Every time I was about to buy, the economy was always against me or I was moving, etc. so I did not buy.  Now maybe in the next year or so the economy and my near retirement may work in my favor

 

Any young person first getting in has it very nice right now. That's how it works. Near time retirement go with real estate. This could get ugly for 10 years. Investing in low income housing is my idea lately.

Edited March 22, 2020 by Cryingdick

[gk10002000]

2 minutes ago, Cryingdick said:

 

Any young person first getting in has it very nice right now. That's how it works.

Yep.  The last ten years my investment scheme was centered around income, dividends, interest,  all tax free investments in my regular brokerage account, ETFs and bond funds in my ROTH and Traditional IRA.  I never tried to time market high lows, never believed it was easy or possible to buy low and sell high on a regular repeatable basis.  So I took the brute force approach and just shot  for about a 5 per cent income rate.  100 k at 5% was 5k a year.  500k was 25K etc.  Did I miss some big market ups?  Yep.  Did I suffer from big market dips?  Nope.  My values went up and down but the income dividends and interest really did not change much and have just kept compounding.  The only individual stocks I owned that took a beating were the REITs this last two weeks.  NLY and AGNC got hammered.  Apparently there were some forced sellings from large ETFs that owned them so the prices plummeted.  Oh well.  Just a good reason not to put too many eggs in one basket.  Solvent or not, high dividend pay our rate or not, the price value drop can be scary. 

 

  I am 63 now and still piling up cash and watching my social security grow 7% a year, so things are OK for me.  

[Brickbat]

9 hours ago, Cryingdick said:

 

You realize that China has it even worse and if the USA stops consuming China has nobody to sell to. Let's not even get into the state of Europe. I don't think you will find Xi is laughing about anything. It isn't always this overly simplistic zero sum game of USA bad XI laugh.

 

 

It’s a very simplistic view that you suggest. China was getting slapped by Trump. In war there is collateral damage and casualties on both sides. But guess who is more resilient? Soft Americans or Chinese who can live off a bowl of rice. Look at the Shanghai Stock index. It’s not being hammered like the Dow. Yes, in the end, I feel China will emerge stronger. And Xi is chuckling . Trump is on the wall and quite likely fall off it by Dec. 

[Cryingdick]

4 minutes ago, gk10002000 said:

Yep.  The last ten years my investment scheme was centered around income, dividends, interest,  all tax free investments in my regular brokerage account, ETFs and bond funds in my ROTH and Traditional IRA.  I never tried to time market high lows, never believed it was easy or possible to buy low and sell high on a regular repeatable basis.  So I took the brute force approach and just shot  for about a 5 per cent income rate.  100 k at 5% was 5k a year.  500k was 25K etc.  Did I miss some big market ups?  Yep.  Did I suffer from big market dips?  Nope.  My values went up and down but the income dividends and interest really did not change much and have just kept compounding.  The only individual stocks I owned that took a beating were the REITs this last two weeks.  NLY and AGNC got hammered.  Apparently there were some forced sellings from large ETFs that owned them so the prices plummeted.  Oh well.  Just a good reason not to put too many eggs in one basket.  Solvent or not, high dividend pay our rate or not, the price value drop can be scary. 

 

  I am 63 now and still piling up cash and watching my social security grow 7% a year, so things are OK for me.  

 

Keep an eye on accidentally high divs and free cash flows. 

[Cryingdick]

2 minutes ago, Brickbat said:

It’s a very simplistic view that you suggest. China was getting slapped by Trump. In war there is collateral damage and casualties on both sides. But guess who is more resilient? Soft Americans or Chinese who can live off a bowl of rice. Look at the Shanghai Stock index. It’s not being hammered like the Dow. Yes, in the end, I feel China will emerge stronger. And Xi is chuckling . Trump is on the wall and quite likely fall off it by Dec. 

 

Any hardened American can also survive in that manor. America has way more resources than China and is essentially self sufficient if it came down to that. We produce our own food.

 

Again who exactly is China going to sell it's goods to? China doesn't even have goods it has factories. Apple will remain a huge buyer while relocating it's factories as quickly and financially feasible as possible. Mexico looks nice.

 

You have to be insane if you think China actually sells anything of use to another country in the world. I heard Nokia is ready to eat Apple's lunch with candy bar and flip phones. Full qwerty keyboards.

 

China only has factories it has no product of its own. When you buy an iPhone for example you are most likely using 100 US companies. Qualcomm, Dow, gorilla glass, Broadcom, Skyworks, Micron, Applied Materials, intel, etc. The list goes on and on. The Chinese simply host the factories. They don't sell anything to the USA except for cheap factory labor and that is hanging from a string right now.

 

 

 

[Cryingdick]

26 minutes ago, gk10002000 said:

Yep.  The last ten years my investment scheme was centered around income, dividends, interest,  all tax free investments in my regular brokerage account, ETFs and bond funds in my ROTH and Traditional IRA.  I never tried to time market high lows, never believed it was easy or possible to buy low and sell high on a regular repeatable basis.  So I took the brute force approach and just shot  for about a 5 per cent income rate.  100 k at 5% was 5k a year.  500k was 25K etc.  Did I miss some big market ups?  Yep.  Did I suffer from big market dips?  Nope.  My values went up and down but the income dividends and interest really did not change much and have just kept compounding.  The only individual stocks I owned that took a beating were the REITs this last two weeks.  NLY and AGNC got hammered.  Apparently there were some forced sellings from large ETFs that owned them so the prices plummeted.  Oh well.  Just a good reason not to put too many eggs in one basket.  Solvent or not, high dividend pay our rate or not, the price value drop can be scary. 

 

  I am 63 now and still piling up cash and watching my social security grow 7% a year, so things are OK for me.  

That's awesome look at Amazon they are hiring 100,000 people and paying extra for overtime hours. All while other companies are going to announce lay offs. Trades at $1,848.

Edited March 22, 2020 by Cryingdick

[Chomper Higgot]

12 minutes ago, Cryingdick said:

 

Any hardened American can also survive in that manor. America has way more resources than China and is essentially self sufficient if it came down to that. We produce our own food.

 

Again who exactly is China going to sell it's goods to? China doesn't even have goods it has factories. Apple will remain a huge buyer while relocating it's factories as quickly and financially feasible as possible. Mexico looks nice.

 

You have to be insane if you think China actually sells anything of use to another country in the world. I heard Nokia is ready to eat Apple's lunch with candy bar and flip phones. Full qwerty keyboards.

 

China only has factories it has no product of its own. When you buy an iPhone for example you are most likely using 100 US companies. Qualcomm, Dow, gorilla glass, Broadcom, Skyworks, Micron, Applied Materials, intel, etc. The list goes on and on. The Chinese simply host the factories. They don't sell anything to the USA except for cheap factory labor and that is hanging from a string right now.

 

 

 

So all those Chinese telecom systems the US is trying to prevent the world adopting, where did they come from?

 

[metisdead]

Some off topic posts and replies have been removed. 

[Cryingdick]

4 minutes ago, Chomper Higgot said:

So all those Chinese telecom systems the US is trying to prevent the world adopting, where did they come from?

 

If China wants to go into business with Nokia it's fine. They are probably employing those systems to spy on their own citizens. 

Can I ask you if you are an American?

Edited March 22, 2020 by Cryingdick

[Brickbat]

15 minutes ago, Cryingdick said:

 

Any hardened American can also survive in that manor. America has way more resources than China and is essentially self sufficient if it came down to that. We produce our own food.

 

Again who exactly is China going to sell it's goods to? China doesn't even have goods it has factories. Apple will remain a huge buyer while relocating it's factories as quickly and financially feasible as possible. Mexico looks nice.

 

You have to be insane if you think China actually sells anything of use to another country in the world. I heard Nokia is ready to eat Apple's lunch with candy bar and flip phones. Full qwerty keyboards.

 

China only has factories it has no product of its own. When you buy an iPhone for example you are most likely using 100 US companies. Qualcomm, Dow, gorilla glass, Broadcom, Skyworks, Micron, Applied Materials, intel, etc. The list goes on and on. The Chinese simply host the factories. They don't sell anything to the USA except for cheap factory labor and that is hanging from a string right now.

 

 

 

The currency that Trump used to buy support ( roaring stock market) is running out just ahead of the November election. Bashing Asia will be at the front of Trump's efforts to cheer his base. Trump vs Xi. The fun begins. Trump’s shaky grasp of risks that lie ahead ensure this will not be the last time Asian markets suffer huge losses. But it was Trump’s war cry. He tried to own that huge stock market gaining the Dow and Nasdaq.  Now he owns the big dump! 
 

[spiekerjozef]

Why is it still open?

[Cryingdick]

6 minutes ago, Brickbat said:

The currency that Trump used to buy support ( roaring stock market) is running out just ahead of the November election. Bashing Asia will be at the front of Trump's efforts to cheer his base. Trump vs Xi. The fun begins. Trump’s shaky grasp of risks that lie ahead ensure this will not be the last time Asian markets suffer huge losses. But it was Trump’s war cry. He tried to own that huge stock market gaining the Dow and Nasdaq.  Now he owns the big dump! 
 

 

This buying opportunity will be remembered for 100 years. 

[Nyezhov]

2 minutes ago, Cryingdick said:

 

This buying opportunity will be remembered for 100 years. 

And when it takes off.....

[Cryingdick]

2 minutes ago, Nyezhov said:

And when it takes off.....

It's going to be a lot of people densely packed in crying about rich people and how unfair life is.

[Chomper Higgot]

20 minutes ago, Cryingdick said:

 

This buying opportunity will be remembered for 100 years. 

Let’s get the criminal prosecutions for insider trading out the way first.

[Chomper Higgot]

As with all previous financial crashes, there is nothing so wise and accurate as hindsight, except of course for after the fact self-attested foresight.

[Cryingdick]

10 minutes ago, Chomper Higgot said:

As with all previous financial crashes, there is nothing so wise and accurate as hindsight, except of course for after the fact self-attested foresight.

The market is a front facing beast. It's not about what you did for me yesterday but what happens tomorrow.As such you have a chance at it. AMZN is the buy of a life time now. See? I am not saying where it came from I am saying where it goes. There is probably going to be maybe 3 retailers in the USA that matter in two months. Walmart, Costco Amazon and maybe something in between like Dollar General. 

 

Pick wisely. But the winners are becoming more obvious.

[Nyezhov]

3 minutes ago, Cryingdick said:

But the winners are becoming more obvious.

Just talked to my dude. Short term: Hes looking at Publicly traded Virus/vaccine research companies in Britain, Israel and the US and medical supply companies.

 

Long terms; Transportation (Saudi Arabia is trying to break the market, expect to see stupidly low prices for gas/fuel) such as Ford (low gas prices and pickups) and Delta, Defense companies (moving industry back), Machine Tool Production, Chemicals, Mining (rare earths), Steel. 

 

The viris is a painful and tragic way to change the way we do biz, like any other war. I feel, based on reasonable evidence, that a lot of the hype over this virus has a lot to do with politics. But everything takes a life of its own and the law of unintended consequences takes hold. Here the consequence is going to be a return of industry and supply chains to the United States at the expense of China. Countries like Vietnam, Cambo, plus  South America, Mexico are all going to benefit too. China is going to hurt because you cant run a huge modern country selling flip flops to Cambodia.

 

That will have consequeces too, but thats life.

[Chomper Higgot]

15 minutes ago, Nyezhov said:

Just talked to my dude. Short term: Hes looking at Publicly traded Virus/vaccine research companies in Britain, Israel and the US and medical supply companies.

 

Long terms; Transportation (Saudi Arabia is trying to break the market, expect to see stupidly low prices for gas/fuel) such as Ford (low gas prices and pickups) and Delta, Defense companies (moving industry back), Machine Tool Production, Chemicals, Mining (rare earths), Steel. 

 

The viris is a painful and tragic way to change the way we do biz, like any other war. I feel, based on reasonable evidence, that a lot of the hype over this virus has a lot to do with politics. But everything takes a life of its own and the law of unintended consequences takes hold. Here the consequence is going to be a return of industry and supply chains to the United States at the expense of China. Countries like Vietnam, Cambo, plus  South America, Mexico are all going to benefit too. China is going to hurt because you cant run a huge modern country selling flip flops to Cambodia.

 

That will have consequeces too, but thats life.

I love your predictions, they never fail to bring a smile to my face.

 

 

[Chomper Higgot]

4 hours ago, Cryingdick said:

I have wished ill on anybody. I knew I would be attacked but I am actually just making a valid observation. Nobody wants this to grow and if you live in an area that's otherwise vulnerable it could get ugly. 

 

Think of bad power grids and heat in Arizona and similar things. If things do not go pretty much perfectly for at least a couple of months it could be rough. On the bright side it isn't wildfire season or hurricane season.

 

However there are flood warnings out here in the east and some could be quite severe. In such a scenario you could get hundreds or thousands of people displaced and right now red, blue or purple that's a big problem.

Don’t worry, the President ‘takes no responsibility at all’.

 

You’ll be fine.

[Cryingdick]

35 minutes ago, Nyezhov said:

Just talked to my dude. Short term: Hes looking at Publicly traded Virus/vaccine research companies in Britain, Israel and the US and medical supply companies.

 

Long terms; Transportation (Saudi Arabia is trying to break the market, expect to see stupidly low prices for gas/fuel) such as Ford (low gas prices and pickups) and Delta, Defense companies (moving industry back), Machine Tool Production, Chemicals, Mining (rare earths), Steel. 

 

The viris is a painful and tragic way to change the way we do biz, like any other war. I feel, based on reasonable evidence, that a lot of the hype over this virus has a lot to do with politics. But everything takes a life of its own and the law of unintended consequences takes hold. Here the consequence is going to be a return of industry and supply chains to the United States at the expense of China. Countries like Vietnam, Cambo, plus  South America, Mexico are all going to benefit too. China is going to hurt because you cant run a huge modern country selling flip flops to Cambodia.

 

That will have consequeces too, but thats life.

 

Be very careful of biotechs. Those are pure speculation. If you buy one and it spikes immediately take profits.

Edited March 22, 2020 by Cryingdick

[Nyezhov]

2 minutes ago, Cryingdick said:

 

Be very careful of biotechs. Those are pure speculation.

Im not careful of anything. Thats what I pay him for...or not if he loses.

 

One time he tried to buy in to a small company and then DARPA took the company off the market. Bet they had something LOL.

[Cryingdick]

5 minutes ago, Nyezhov said:

Im not careful of anything. Thats what I pay him for...or not if he loses.

 

One time he tried to buy in to a small company and then DARPA took the company off the market. Bet they had something LOL.

 

It's easy to find a biotech and you can get maybe 30-50% in a day or week. All I am saying is stop smoking so much dope in Cambodia and be as miserable as the rest of us. Tell your man to buy Amazon. They are trying to hire 100,000 people now and are paying extra for overtime. This could be the buy of a lifetime now pass the joint. 

 

If you insist on biotechs take your cost basis out as quickly as you can.

 

 

Edited March 22, 2020 by Cryingdick

[Nyezhov]

5 minutes ago, Cryingdick said:

Tell your man to buy Amazon.

He already did lol.

 

I got family in the construction business. They were backed up with work before and once this goes away, it will be even worse. That means more machines, more muscle, more payables, bigger payroll. The economy is like a dragster getting fueled up with supply chain changes.

 

Can you imagine what would happen if we legislated to promote the return of industry even more?

 

China is soooooooooooooooo finished.

 

Never let a crisis go to waste when you can make a buck LOL. Far better than using a crisis to promote serfdom for the masses.

Edited March 22, 2020 by Nyezhov