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Dow floor at 18,000 or so?

By Al_Sharpton_for_President follow Al_Sharpton_for_President   2020 Mar 25, 9:29am 458 views   16 comments   watch   nsfw   quote   share    


1   Tenpoundbass   ignore (15)   2020 Mar 25, 9:31am     ↓ dislike (0)   quote   flag      

Would you bet a Commie in the White House on that?
2   WookieMan   ignore (6)   2020 Mar 25, 9:45am     ↓ dislike (0)   quote   flag      

I think it breaks 15k at some point here. Just a gut guess though. The NYC virus numbers are going to scare the market in coming days regardless of the stimulus package. The region alone is the size of Wuhan roughly. We're already past the point were they did legit, authoritarian lock down in Wuhan. If news stories are to be believed, you couldn't leave your damn house. Period, end of story. Full lockdown is different here than China.

So NYC numbers have a chance of beating Wuhan. Most major cities in America are going to have issues that are exponentially higher than we're seeing now. The death rate and people it kills is technically inconsequential, it's just the in the moment drama that markets will deal with.

I don't think it's as dire long term, but I think the stimulus is a bit of short term false hope. Everyone is just going to hoard the cash they receive and best case buy booze, drugs and groceries because they're stuck at home, many with no work.
3   theoakman   ignore (0)   2020 Mar 25, 12:03pm     ↓ dislike (0)   quote   flag      

As someone who grew up 10 minutes NYC....way too many people there are so self absorbed. Most of them don't give a crap about anyone but themselves. They'll be out an about any time the temperature goes above 60 and this is going to keep spreading.
4   WookieMan   ignore (6)   2020 Mar 25, 1:29pm     ↓ dislike (0)   quote   flag      

theoakman says
As someone who grew up 10 minutes NYC....way too many people there are so self absorbed. Most of them don't give a crap about anyone but themselves. They'll be out an about any time the temperature goes above 60 and this is going to keep spreading.

I don't know NYC at all. Been once as a kid and have zero interest in going back, ever. Your summary sounds about right from what I've read though.
5   Ceffer   ignore (4)   2020 Mar 25, 6:45pm     ↓ dislike (0)   quote   flag      

Market floor? Doesn't anybody have any Globalist politician friends who can clue them in on the timing?

Guess I am going to have to cancel that fleet of 30 Hummers I was planning on buying.
6   Patrick   ignore (1)   2020 Mar 25, 7:04pm     ↓ dislike (0)   quote   flag      

OccasionalCortex says
Good! My 401(k) contributions will buy a LOT more stock then.


Huh, yes, that's good news actually.

theoakman says
As someone who grew up 10 minutes NYC....way too many people there are so self absorbed. Most of them don't give a crap about anyone but themselves. They'll be out an about any time the temperature goes above 60 and this is going to keep spreading.


Yes, that sounds about right.

And karma will beat them back in line. Eventually.
7   SunnyvaleCA   ignore (1)   2020 Mar 26, 1:42am     ↓ dislike (0)   quote   flag      

DOW floor at 18k? DOW went from approximate 14k to 7k in the 2009 downturn, so who's to say it can't go from 28k to 14k this time. Come to think of it, it's amazing we would consider 18k a "crash" when a mere 14k was all-time-high just 12 years ago.
8   Misc   ignore (0)   2020 Mar 26, 4:25am     ↓ dislike (0)   quote   flag      

Theoretically it can only go to zero. Uhhhh, theoretically.
9   Al_Sharpton_for_President   ignore (6)   2020 Mar 26, 4:42am     ↓ dislike (0)   quote   flag      

SunnyvaleCA says
DOW floor at 18k? DOW went from approximate 14k to 7k in the 2009 downturn, so who's to say it can't go from 28k to 14k this time. Come to think of it, it's amazing we would consider 18k a "crash" when a mere 14k was all-time-high just 12 years ago.
2008 was caused by a financial crisis, and the Fed and UST went into overdrive to rescue the banks. This one is affecting manufacturing and services as well, but not the banks as directly. A pumped up rescue initiative is on the way, and even the little person gets some tasty crumbs. The Fed and UST have recent experience in bailouts, and their man's re-election may be at risk if the stock market tanks long term.

The reality is that society could have continued to function normally, as seniors, and the occasional unlucky younger victims, were dropping. 99.9999% of the population would survive and many would be immune. But no one will make that call in the USA. Maybe Pence when a voice instructs him to do so.
10   WookieMan   ignore (6)   2020 Mar 26, 5:51am     ↓ dislike (0)   quote   flag      

3M+ unemployment claims. Old people < Economy

Let's just get this done already. I worry legit panic starts setting in. Not just getting TP or groceries.
11   Misc   ignore (0)   2020 Mar 26, 6:46am     ↓ dislike (0)   quote   flag      

Just because people don't have jobs doesn't mean anything. We will simply print our way to prosperity.
12   Ceffer   ignore (4)   2020 Mar 26, 12:16pm     ↓ dislike (0)   quote   flag      

It will be a jobless recovery!
14   Misc   ignore (0)   2020 Mar 26, 12:25pm     ↓ dislike (0)   quote   flag      

Tenpoundbass says
LOL Dow up 20% since Monday.

https://www.cnn.com/business/live-news/stock-market-news-today-032620/index.html


Wait till next month when they send out $12000 checks to everyone. You ain't seen nothing yet,
15   Tenpoundbass   ignore (15)   2020 Mar 26, 12:29pm     ↓ dislike (0)   quote   flag      

WookieMan says
3M+ unemployment claims. Old people < Economy


That's a testament to how well off, as of now, people still are.
I was furloughed and given a slip to get UE, but I haven't applied for it yet. And I think about 5 million out of the 8 million laid off in the last few weeks, feel the same way.
16   WookieMan   ignore (6)   2020 Mar 26, 2:32pm     ↓ dislike (0)   quote   flag      

Tenpoundbass says
I was furloughed and given a slip to get UE, but I haven't applied for it yet. And I think about 5 million out of the 8 million laid off in the last few weeks, feel the same way.

I'm not so confident, but I hope you're right. Half of boomers don't have a penny saved for retirement. Anyone that did, just had a bunch wiped out. Maybe they'll just die and we won't have to worry about social security and that will make the markets rise....

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