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Market Massacre: Oil Crashes 30%, VIX Explodes As S&P Craters
invite response
2020 Mar 9, 8:44am 2,907 views 83 comments
« First « Previous Comments 44 - 83 of 83 Search these comments
44
Shaman
2020 Mar 9, 3:57pm
Shaman
2020 Mar 9, 3:57pm
What I’ve learned is that it’s super hard to call a bottom. It might go down again tomorrow or next week even further.
But what I do know is that every single crash has been followed by a recovery to at least 90% of top value within a year. If we get back to 28k DOW by December, I’ll be happy.
But what I do know is that every single crash has been followed by a recovery to at least 90% of top value within a year. If we get back to 28k DOW by December, I’ll be happy.
46
Bd6r
2020 Mar 9, 3:58pm
Bd6r
2020 Mar 9, 3:58pm
Patrick says
They are starting to close schools/universities/cancel mass activities. May get worse, if not in reality, then in heads of population.
You certainly could have bought at a worse time (like last week!) but maybe the best time will be when the covid deaths finally start declining globally.
Of course Wall Street will have that information first, but it still could be a very good time to buy when we turn the corner.
They are starting to close schools/universities/cancel mass activities. May get worse, if not in reality, then in heads of population.
47
EBGuy
2020 Mar 9, 4:01pm
Cal is going remote for most lectures.
UC Berkeley to suspend ‘most in-person classes’ starting Tuesday to limit coronavirus risk
UC Berkeley to suspend ‘most in-person classes’ starting Tuesday to limit coronavirus risk
48
mell
2020 Mar 9, 4:13pm
rd6B says
Well universities are not vital for the stock market, esp. not todays ;)
Patrick saysYou certainly could have bought at a worse time (like last week!) but maybe the best time will be when the covid deaths finally start declining globally.
Of course Wall Street will have that information first, but it still could be a very good time to buy when we turn the corner.
They are starting to close schools/universities/cancel mass activities. May get worse, if not in reality, then in heads of population.
Well universities are not vital for the stock market, esp. not todays ;)
49
Bd6r
2020 Mar 9, 4:26pm
Bd6r
2020 Mar 9, 4:26pm
mell says
This will build into perception that we are in crisis + our Great State will get hosed with low oil prices.
Well universities are not vital for the stock market, esp. not todays ;)
This will build into perception that we are in crisis + our Great State will get hosed with low oil prices.
50
BayArea
2020 Mar 9, 5:25pm
BayArea
2020 Mar 9, 5:25pm
Patrick says
Sorry to hear about this Patrick. That doctor should have returned that money.
WookieMan saysI've witnessed this with my own father in the last year.
Similar with my mother. She had a 100% fatal brain tumor (glioblastoma) and was offered brain surgery that had a slim chance of extending her life for a few months.
She did it, and it ended up partly paralyzing her, and then she died anyway, probably a bit sooner because of the surgery.
But the doctor made $100,000 or so off of Medicare for the surgery.
Sorry to hear about this Patrick. That doctor should have returned that money.
51
Patrick
2020 Mar 9, 7:06pm
Patrick
2020 Mar 9, 7:06pm
She always liked gambling.
The doctor did seem kind of unethical in even suggesting it, given the certainty that her case was fatal. This is no doubt how a lot of the US Medicare budget gets wasted.
But who is going to tell his dying mother that it's hopeless? When she asked, I would just say that it's "not good".
She went out just about the same time as Ted Kennedy, with the same disease.
The doctor did seem kind of unethical in even suggesting it, given the certainty that her case was fatal. This is no doubt how a lot of the US Medicare budget gets wasted.
But who is going to tell his dying mother that it's hopeless? When she asked, I would just say that it's "not good".
She went out just about the same time as Ted Kennedy, with the same disease.
52
Heraclitusstudent
2020 Mar 9, 10:11pm
Heraclitusstudent
2020 Mar 9, 10:11pm
WookieMan says
Yes. In nature, creatures don't suffer long. When animals are sick, they die within a few days max, likely much faster.
Modern medicine makes dying a long struggle, even when everyone knows the inevitable outcome.
People see bad health as a problem and we are raised with the idea that every problem can be or should be solved. We just need to push the right buttons. But there is no button against death. Death is not really a problem, it's an experience we all have to go through.
People don't know when to give up. There's a share of vanity in this. They can't let go.
However a respirator may save your life and give you many more years of good life.
I just think it prolongs suffering for the person themselves and the family.
Yes. In nature, creatures don't suffer long. When animals are sick, they die within a few days max, likely much faster.
Modern medicine makes dying a long struggle, even when everyone knows the inevitable outcome.
People see bad health as a problem and we are raised with the idea that every problem can be or should be solved. We just need to push the right buttons. But there is no button against death. Death is not really a problem, it's an experience we all have to go through.
People don't know when to give up. There's a share of vanity in this. They can't let go.
However a respirator may save your life and give you many more years of good life.
54
Onvacation
2020 Mar 10, 5:53am
Onvacation
2020 Mar 10, 5:53am
mell says
Who's going to prosecute you for killing yourself?
And Epstein didn't.
I also think suicide should be fully legal if you can do it yourself,
Who's going to prosecute you for killing yourself?
And Epstein didn't.
55
Patrick
2020 Mar 10, 7:46am
Patrick
2020 Mar 10, 7:46am
Oil has had biggest % plunge since 1991:
https://www.dailymail.co.uk/news/article-8089973/How-Saudi-Arabia-trying-CRIPPLE-Russian-oil-industry-flooding-world-market.html
https://www.dailymail.co.uk/news/article-8089973/How-Saudi-Arabia-trying-CRIPPLE-Russian-oil-industry-flooding-world-market.html
56
Tenpoundbass
2020 Mar 10, 7:55am
Tenpoundbass
2020 Mar 10, 7:55am
I think Trump is brilliant. He forged alliances early on with Saudi and Russia.
The Global Establishment Cabal cooked up this scheme to trash the world economy. But they hinged their gambit on hedging their loses with Energy.
They were planning on no jobs, no growth, and $5.00 a gallon Oil, and $150++ Oil.
I fully expect that by next week all of the losses will be erased and the stock market will be back where it was.
Also since I've been on the influential fringe beating the truth drum, that almost every single case in the USA has come from Cruise Ships where the Global Cabal are incubating Cases and releasing them in communities that need a nudge to panic about the Global pandemic. Finally people are starting to call the officials at the press conference out on it. So much so, that Debbie What's Her Face Slut, read the riot act to the Broward County Health official I reported on Saturday for her obtuse crass response about where the patients came from.
Now they are starting to admit that they are coming from Cruise Ships. Also yesterday, the CDC, WHO and State Department recommended everyone stop taking cruises.
The influential fringe is more powerful than a County full of Dead Liberal Voters.
Use it everywhere you can. Not Facebook and Twitter there's too much noise. Get on the comments of national publications you know damn well everyone who's anyone in Washington is reading.
There's your new weapon get out there and slay some Commie Fools with it.
The Global Establishment Cabal cooked up this scheme to trash the world economy. But they hinged their gambit on hedging their loses with Energy.
They were planning on no jobs, no growth, and $5.00 a gallon Oil, and $150++ Oil.
I fully expect that by next week all of the losses will be erased and the stock market will be back where it was.
Also since I've been on the influential fringe beating the truth drum, that almost every single case in the USA has come from Cruise Ships where the Global Cabal are incubating Cases and releasing them in communities that need a nudge to panic about the Global pandemic. Finally people are starting to call the officials at the press conference out on it. So much so, that Debbie What's Her Face Slut, read the riot act to the Broward County Health official I reported on Saturday for her obtuse crass response about where the patients came from.
Now they are starting to admit that they are coming from Cruise Ships. Also yesterday, the CDC, WHO and State Department recommended everyone stop taking cruises.
The influential fringe is more powerful than a County full of Dead Liberal Voters.
Use it everywhere you can. Not Facebook and Twitter there's too much noise. Get on the comments of national publications you know damn well everyone who's anyone in Washington is reading.
There's your new weapon get out there and slay some Commie Fools with it.
57
WookieMan
2020 Mar 10, 7:56am
WookieMan
2020 Mar 10, 7:56am
Patrick says
Kind of on topic, but slightly different. I don't know peoples positions in life, but do oil prices for the average successful adult even matter? I honestly can't tell you what regular unleaded is going for right now. It would have zero influence on a car purchase at this point in my life. Am I weird?
When I was say 20-22 I'd pull off the interstate and look for the cheaper gas price and save $0.05 per gallon. I haven't looked at prices in years. Does anyone here actually seek out the lower price anymore?
Oil has had biggest % plunge since 1991:
Kind of on topic, but slightly different. I don't know peoples positions in life, but do oil prices for the average successful adult even matter? I honestly can't tell you what regular unleaded is going for right now. It would have zero influence on a car purchase at this point in my life. Am I weird?
When I was say 20-22 I'd pull off the interstate and look for the cheaper gas price and save $0.05 per gallon. I haven't looked at prices in years. Does anyone here actually seek out the lower price anymore?
58
Dholliday126
2020 Mar 10, 7:58am
Dholliday126
2020 Mar 10, 7:58am
You know oil is basically priced at where is was 20 years ago despite twice the population and all the inflation. It's really remarkable. I remember all the peak oil talk.
Maybe there's truth to that theory that oil is a naturally reoccurring byproduct of fusion within the earth. Or something like that, aka it's endless.
Maybe there's truth to that theory that oil is a naturally reoccurring byproduct of fusion within the earth. Or something like that, aka it's endless.
59
porkchopXpress
2020 Mar 10, 8:08am
porkchopXpress
2020 Mar 10, 8:08am
WookieMan says
When I was say 20-22 I'd pull off the interstate and look for the cheaper gas price and save $0.05 per gallon. I haven't looked at prices in years. Does anyone here actually seek out the lower price anymore?Not me but it's hilarious to see successful people waiting 30 minutes or more (with their car running) just to save $0.15/gallon at Costco. It's madness.
60
Tenpoundbass
2020 Mar 10, 8:22am
Tenpoundbass
2020 Mar 10, 8:22am
Dholliday126 says
It is being replenished. It's Sea Snow going along for the ride as water at the sea floor is compressed into the Earth's crust. The Rivers and runoff dumping into the Ocean, creates great pressure on the sea floor, where the water on the bottom is then pressed down into the Earth. Where the dense compressed sea water is pushed in the crust where salts are deposited, and the organic material is collected and turned into crude. The clean distilled water then flows through the Earth's aquifers, and mountains, actually push the water up, where it seeps out of the mountain tops, and creates streams and springs, where they all meet and create rivers, rivers run to the ocean, where the cycle is completed and repeated.
The deepest the Ocean can be is about 30,000 feet. This is why there will never be Sea level rise like the Liberals like to hype, and is why Peak Oil never happened.
Oil wells that were depleted in Texas during the early 1900's, are now back on line. Many cases they didn't have to drill deeper, or come up with new technology. Unlike the Tar sands extraction.
Coincidentally 30,000 feet is also the highest Mountains can grow above sea level, before erosion and pressure knocks it back down.
I suspect that any Space Elevator construction or if any building is ever built higher than 30,000 feet will discover.
Maybe there's truth to that theory that oil is a naturally reoccurring byproduct of fusion within the earth. Or something like that, aka it's endless.
It is being replenished. It's Sea Snow going along for the ride as water at the sea floor is compressed into the Earth's crust. The Rivers and runoff dumping into the Ocean, creates great pressure on the sea floor, where the water on the bottom is then pressed down into the Earth. Where the dense compressed sea water is pushed in the crust where salts are deposited, and the organic material is collected and turned into crude. The clean distilled water then flows through the Earth's aquifers, and mountains, actually push the water up, where it seeps out of the mountain tops, and creates streams and springs, where they all meet and create rivers, rivers run to the ocean, where the cycle is completed and repeated.
The deepest the Ocean can be is about 30,000 feet. This is why there will never be Sea level rise like the Liberals like to hype, and is why Peak Oil never happened.
Oil wells that were depleted in Texas during the early 1900's, are now back on line. Many cases they didn't have to drill deeper, or come up with new technology. Unlike the Tar sands extraction.
Coincidentally 30,000 feet is also the highest Mountains can grow above sea level, before erosion and pressure knocks it back down.
I suspect that any Space Elevator construction or if any building is ever built higher than 30,000 feet will discover.
61
AD
2020 Mar 10, 9:08am
AD
2020 Mar 10, 9:08am
WookieMan says
If gas went above $4 a gallon (like it did in 2008 and right before the election), then it matters. For someone who would commute 50 miles a day each way to work, then it would matter a lot. It could add an extra $250 a month in gas costs per month for someone making $80,000 a year.
For gas staying below $3 a gallon then it may not be as much a deciding factor as far as deciding to car pool, buy a more fuel efficient car, etc.
For someone who earns at least $250,000, gas prices may not be as much of a concern as they may have a much higher amount of disposable income compared to 90% of the population.
Kind of on topic, but slightly different. I don't know peoples positions in life, but do oil prices for the average successful adult even matter? I honestly can't tell you what regular unleaded is going for right now. It would have zero influence on a car purchase at this point in my life. Am I weird?
When I was say 20-22 I'd pull off the interstate and look for the cheaper gas price and save $0.05 per gallon. I haven't looked at prices in years. Does anyone here actually seek out the lower price anymore?
If gas went above $4 a gallon (like it did in 2008 and right before the election), then it matters. For someone who would commute 50 miles a day each way to work, then it would matter a lot. It could add an extra $250 a month in gas costs per month for someone making $80,000 a year.
For gas staying below $3 a gallon then it may not be as much a deciding factor as far as deciding to car pool, buy a more fuel efficient car, etc.
For someone who earns at least $250,000, gas prices may not be as much of a concern as they may have a much higher amount of disposable income compared to 90% of the population.
62
MisdemeanorRebel
2020 Mar 10, 9:26am
MisdemeanorRebel
2020 Mar 10, 9:26am
I love being in a win win situation. If Oil is $80/bbl, we win because of Fracking. If Oil is $30/bbl, we win because it's cheap.
I love winning one way or the other!
I love winning one way or the other!
64
Ceffer
2020 Mar 10, 10:10am
Ceffer
2020 Mar 10, 10:10am
Does this mean that Trump has finally destroyed Obama's vibrant economy, that Obama laid down so painstakingly during his administration?
65
AD
2020 Mar 10, 10:53am
AD
2020 Mar 10, 10:53am
NoCoupForYou says
Yes, there is a hedge strategy with that rationale.
Ultimately, the bottomline is examining trends such as median household income, tax receipts, unemployment rate, full employment rate, and GDP. Which condition, $30 a barrel or $80 a barrel, provides the best trends ?
I love being in a win win situation. If Oil is $80/bbl, we win because of Fracking. If Oil is $30/bbl, we win because it's cheap.
I love winning one way or the other!
Yes, there is a hedge strategy with that rationale.
Ultimately, the bottomline is examining trends such as median household income, tax receipts, unemployment rate, full employment rate, and GDP. Which condition, $30 a barrel or $80 a barrel, provides the best trends ?
66
SunnyvaleCA
2020 Mar 10, 3:41pm
MM1 says
For someone who earns at least $250,000, gas prices may not be as much of a concern as they may have a much higher amount of disposable incomeDirectly paying for gasoline isn't a problem for those people. However, they still feel the high price in how it affects people much more sensitive to the price. For example, a store owner (earning $250k/year from the store) might see less-wealthy people cutting back on discretionary purchases in order to funnel more money towards the now-costlier gas. Or maybe an Apple engineer, while still knocking down $250k/year salary. notices that he just lost $1MM in company stock value.
67
AD
2020 Mar 10, 4:17pm
AD
2020 Mar 10, 4:17pm
SunnyvaleCA says
An Apple engineer who sees their portfolio go down 25% from $4 million to $3 million is not feeling as much economic pain as someone who makes $80,000 a year and experiences inflationary pressure such as +$4.50 for a gallon of gas.
rectly paying for gasoline isn't a problem for those people. However, they still feel the high price in how it affects people much more sensitive to the price. For example, a store owner (earning $250k/year from the store) might see less-wealthy people cutting back on discretionary purchases in order to funnel more money towards the now-costlier gas. Or maybe an Apple engineer, while still knocking down $250k/year salary. notices that he just lost $1MM in company stock value.
An Apple engineer who sees their portfolio go down 25% from $4 million to $3 million is not feeling as much economic pain as someone who makes $80,000 a year and experiences inflationary pressure such as +$4.50 for a gallon of gas.
68
noobster
2020 Mar 10, 4:54pm
The real question is if pizza delivery places will stop charging the delivery fee, that was put in place (so they say) to offset high gas prices.
Sorry pizza dude, your tip will always be what I would have tipped minus delivery fee
Sorry pizza dude, your tip will always be what I would have tipped minus delivery fee
69
Ceffer
2020 Mar 10, 7:21pm
Ceffer
2020 Mar 10, 7:21pm
I can still roll around in my money bin tossing ingots and greenbacks! Thank you Donald!
70
Booger
2020 Mar 10, 7:42pm
Booger
2020 Mar 10, 7:42pm
noobster says
Antifreeze is also still priced as if oil were $150/ barrel as well.
The real question is if pizza delivery places will stop charging the delivery fee, that was put in place (so they say) to offset high gas prices.
Sorry pizza dude, your tip will always be what I would have tipped minus delivery fee
Antifreeze is also still priced as if oil were $150/ barrel as well.
71
clambo
2020 Mar 10, 10:53pm
Not to nitpick, but Obama doesn’t own a “seaside mansion.”
His place is next to the muddy Tisbury Great Pond, not the ocean.
The beach nearby (Quansoo) is nice however, but it’s a short drive or a long walk away, and it’s not private.
His place is next to the muddy Tisbury Great Pond, not the ocean.
The beach nearby (Quansoo) is nice however, but it’s a short drive or a long walk away, and it’s not private.
74
Heraclitusstudent
2020 Mar 12, 11:00am
Heraclitusstudent
2020 Mar 12, 11:00am
Gold is down.
NAC is down 8%,
This has deflation written all over it.
Better start bailing out left and right: airlines, shale, cinemas, etc....
NAC is down 8%,
This has deflation written all over it.
Better start bailing out left and right: airlines, shale, cinemas, etc....
75
Bd6r
2020 Mar 12, 11:04am
Bd6r
2020 Mar 12, 11:04am
Heraclitusstudent says
Exactly. And it will take time to get crap from China back into US or start producing it here. We may be in for months of choppy ride.
Gold is down.
NAC is down 8%,
This has deflation written all over it.
Better start bailing out left and right: airlines, shale, cinemas, etc....
Exactly. And it will take time to get crap from China back into US or start producing it here. We may be in for months of choppy ride.
76
Bd6r
2020 Mar 12, 2:03pm
Bd6r
2020 Mar 12, 2:03pm
APOCALYPSEFUCKisShostikovitch says
AF, you seem to be enjoying this (not that I can fault you)!
OPEN! FIRE!
AF, you seem to be enjoying this (not that I can fault you)!
79
CBOEtrader
2020 Mar 12, 4:15pm
CBOEtrader
2020 Mar 12, 4:15pm
Largest % move since 1987. 5th largest drop ever.
This was something.
I dont know what exactly, but something.
This was something.
I dont know what exactly, but something.
80
clambo
2020 Mar 12, 5:00pm
As of today the W5000 is up about 12% since November 2016 (Trump elected)
Real account results will vary with dividends probably.
The only reason I am upset is I am getting older and was planning on spending some of my investments this year.
I was going to take out some $ and start traveling more.
oh well, it’s a good time to stay home I guess.
Real account results will vary with dividends probably.
The only reason I am upset is I am getting older and was planning on spending some of my investments this year.
I was going to take out some $ and start traveling more.
oh well, it’s a good time to stay home I guess.
81
HeadSet
2020 Mar 12, 6:37pm
HeadSet
2020 Mar 12, 6:37pm
The only reason I am upset is I am getting older and was planning on spending some of my investments this year.
And by this summer, you may still be able to.
And by this summer, you may still be able to.
82
Booger
2020 Mar 12, 6:38pm
Booger
2020 Mar 12, 6:38pm
HeadSet says
I also don't see this lasting long enough to cause divided cuts.
The only reason I am upset is I am getting older and was planning on spending some of my investments this year.
And by this summer, you may still be able to.
I also don't see this lasting long enough to cause divided cuts.
83
Eric Holder
2020 Jun 29, 12:29pm
Eric Holder
2020 Jun 29, 12:29pm
The economy is so bad:
My neighbor got a pre-declined credit card in the mail.
CEO's are now playing miniature golf.
Exxon-Mobil laid off 25 Congressmen.
I saw a Mormon with only one wife.
McDonald's is selling the 1/4 ouncer.
Angelina Jolie adopted a child from America.
Parents in Beverly Hills fired their nannies and learned their
children's names.
A truckload of Americans was caught sneaking into Mexico.
A picture is now only worth 200 words.
The Treasure Island casino in Las Vegas is now managed by Somali pirates.
And, finally...
I was so depressed last night thinking about the economy, wars, jobs, my
savings, Social Security, retirement funds, etc., I called the Suicide
Hotline. I got a call center in Afghanistan, and when I told them I was
suicidal, they got all excited, and asked if I could drive a truck.
My neighbor got a pre-declined credit card in the mail.
CEO's are now playing miniature golf.
Exxon-Mobil laid off 25 Congressmen.
I saw a Mormon with only one wife.
McDonald's is selling the 1/4 ouncer.
Angelina Jolie adopted a child from America.
Parents in Beverly Hills fired their nannies and learned their
children's names.
A truckload of Americans was caught sneaking into Mexico.
A picture is now only worth 200 words.
The Treasure Island casino in Las Vegas is now managed by Somali pirates.
And, finally...
I was so depressed last night thinking about the economy, wars, jobs, my
savings, Social Security, retirement funds, etc., I called the Suicide
Hotline. I got a call center in Afghanistan, and when I told them I was
suicidal, they got all excited, and asked if I could drive a truck.
« First « Previous Comments 44 - 83 of 83 Search these comments
Can't really figure out what is going on with oil. From earlier reading, it seems that the Saudis wanted Russia to cut production to keep prices high, but the Russians refused.
So in retaliation, the Saudis massively boost production? WTF?
Maybe this is an attempt by the Saudis to put Russian producers out of business. It's certainly going to kill the US fracking industry, which cannot profitably extract oil at these prices.
And why would cheap oil be bad for the stock market? Seems like it would be good for everyone except Exxon.
Does this have implications for the dollar and US foreign policy? What exactly is likely to happen?