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03-15-2020, 08:21 PM
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#1591
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Registered User
Join Date: Apr 2014
Posts: 1,755
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Futures getting clocked. S&P down 128 Dow 1041 Nas 340
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03-15-2020, 08:47 PM
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#1592
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 88,522
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CDC recommends canceling events with 50 or more people for the next eight weeks throughout US
This headline alone will probably cause a record drop in the markets tomorrow.
My guess is they will shut trading down completely at some point during the day tomorrow.
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03-15-2020, 11:37 PM
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#1593
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 88,522
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If anybody wants a S&P futures contract @ 2555.50, there is a fire sale going on right now.....TONS available....9,171 contracts to be exact, at that exact price (which is a TON at this time of night, or any time of day really...ever...)
Oh yeah....you can still buy....you just can't sell any below 2555.50...lol
Two contacts have been purchased since I typed this reply....Barnum was right.
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03-16-2020, 12:22 AM
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#1594
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Buckle Up
Join Date: Apr 2014
Posts: 10,614
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No use for the FED anymore, as rates are at zero. Trump will move soon to eliminate....Bet on it.
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03-16-2020, 02:52 AM
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#1595
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Registered User
Join Date: Sep 2007
Location: Boston+Ocala
Posts: 23,735
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i suspect at some point they will re-institute the up tick rule. i don't know if it can be don by an executive order or what it takes to do it.
this could be the catalyst to reverse the markets around S+P 2000 to get the bounce going. after the bounce the markets will proceed to lower levels as well.
if they don't re-instate the rule i would have no idea how far this will fall.
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03-16-2020, 09:16 AM
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#1596
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 88,522
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SPY down 11% in premarket...
VIX futures are now in 2008 territory at 70+
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03-16-2020, 09:32 AM
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#1597
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 88,522
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Markets open, but immediately are locked....for 15 minutes...because S&P has tripped the 2520 level and opened at 2490
Next circuit breaker is at 2358.58 (would trip another 15 minute halt)
2168 would close market for the day.
Where's Alton with his photoshop showing what an idiot I am for telling long term holders to sell when S&P first closed under 2800? Oh, that's right...
Last edited by PaceAdvantage; 03-16-2020 at 09:33 AM.
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03-16-2020, 09:47 AM
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#1598
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 88,522
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Futures down to 2377
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03-16-2020, 09:57 AM
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#1599
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 88,522
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Back up to 2440 on the futures....all is well with the world...
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03-16-2020, 10:21 AM
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#1600
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Registered User
Join Date: Sep 2007
Location: Boston+Ocala
Posts: 23,735
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interesting thing i am seeing with Municipal Bonds. it seems that the municipalities that are run by the democrats are doing a lot worse than the ones that republican run.
i am not bringing this up to be political about it, just the fact that the places run by the democrats have been completely mismanaged due to (in my opinion) crazy give away's of pension's. which leads me to think that the next shoe to drop is going to be the un-funded pensions.
the question bears asking is will it blow up now with the S+P going to the 2000 area, or will this take the markets down even further?
the one thing for sure is that this day is coming and could be just as bad as the corona.
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03-16-2020, 10:47 AM
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#1601
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Registered User
Join Date: Feb 2003
Location: NE Ohio
Posts: 16,487
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Watching the market crawl feels like driving past a major car crash. It's hard to turn away.
Having said that, it seems like the better the company, the bigger the ass kicking today. A company like Apple, for instance, hadn't done as badly as most in past 3-4 weeks, they are getting their butt stomped today. Several others. Market basically saying there's no place to hide. Could this be a sign of capitulation? Not a bottom, but maybe the last catastrophically bad day?
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03-16-2020, 11:04 AM
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#1602
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Registered User
Join Date: Apr 2014
Posts: 1,755
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The one thing missing for a panic bottom is Volume. My guess is the market won’t bottom until we get the biggest volume of the move down by a goodly amount.
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03-16-2020, 11:10 AM
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#1603
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Registered User
Join Date: Feb 2003
Location: NE Ohio
Posts: 16,487
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Today's market logic:
Norwegian Cruise Lines is up
Home Depot and Apple getting obliterated
Moderna halted because its UP 20%
Is the market saying Norwegian has been beaten up so badly, they are bottoming? And top companies like HD and AAPL haven't been hurt as bad in recent weeks so they need to "catch up" in the bottoming process?
Last edited by Valuist; 03-16-2020 at 11:13 AM.
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03-16-2020, 11:34 AM
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#1604
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 88,522
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Hey, at least we made it back to where we were on Friday, before the 150 point rally...lol
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03-16-2020, 11:35 AM
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#1605
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PA Steward
Join Date: Mar 2001
Location: Del Boca Vista
Posts: 88,522
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Quote:
Originally Posted by Secondbest
The one thing missing for a panic bottom is Volume. My guess is the market won’t bottom until we get the biggest volume of the move down by a goodly amount.
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Volume kicked it up a notch last week...it's now at the level where it was at the start of the 2008 meltdown...
Last edited by PaceAdvantage; 03-16-2020 at 11:36 AM.
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