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Thread: Black Friday?

  1. #1

    Black Friday?

    Nikkei 225 21,033.51 −914.72 (-4.17%)

    Brace for Freefall Friday: Traders warn 'the worst is yet to come TODAY'


    Traders are warning that the 'worst is yet to come today' after the New York stock exchange suffered its biggest ever drop and 152billion was wiped off FTSE shares.

    European and US stock markets slumped painfully again Thursday as new coronavirus infections spread outside China, exacerbating fears of a global slowdown.

    While the markets in Shanghai and Hong Kong closed higher, Europe and New York saw a sea of red. London, Frankfurt and Paris all posted losses of more than three percent on the day.

    Wall Street also took a beating, with major indices shedding more than four percent in what is shaping up to be the US market's worst week since the 2008 financial crisis.

    The Dow shed nearly 1,200 points, or 4.4 percent, taking its losses for the week to more than 11 percent.

    Oil prices plunged by more than four percent at one point before recovering somewhat, while the yen gained as traders turned to a traditional haven in times of economic turbulence.

    'There was more coronavirus carnage on the markets,' Spreadex analyst Connor Campbell said.

    This is 'one of the worst weeks in recent memory and terrifyingly, it's not over yet,' he said. 'Friday is a tricky proposition.'

    The benchmark index has now dropped 8 percent in four days amid concerns over more turmoil, with traders warning the virus could lead to 'anaemic global growth'.

    The Dow Jones Industrial Average slid 2.2 percent down 599 points to 26, 367. Earlier yesterday, it was down as much as 960 points. The Nasdaq slid 2.5 percent.

    Meanwhile American Airlines fell 5.2 percent as airlines continue to feel pain from disrupted travel plans and suspended routes.

    The yield on the 10-year Treasury fell further into record low territory, to 1.28 percent from 1.31 percent late Wednesday.

    The market's sharp drop this week partly reflects increasing fears among many economists that the U.S. and global economies could take a bigger hit from the coronavirus than they previously thought.
    https://www.dailymail.co.uk/news/art...-freefall.html


    https://youtu.be/NjzYRtK6i_M



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  3. #2
    You would think there could be more dumping of the junky airlines stock .

  4. #3
    Anyway , I am attending an auction soon where I will be bidding on a rickshaw for Danke . So he can get a real job in the service industry and drive me around on a bicycle .

  5. #4
    Quote Originally Posted by oyarde View Post
    You would think there could be more dumping of the junky airlines stock .
    Could well be a bloodbath. London open in 90 minutes..

  6. #5
    FTSE 100 6,501.75 -294.65 -4.34%
    DAX 11,751.72 -615.74 -5.00%


    Ouch

  7. #6
    Silver is way down, saw it as low as $17.07 last evening. Gold was only down a little.

    Good time to buy silver IMO, but who knows it may go even lower.
    Last edited by RonZeplin; 02-28-2020 at 06:35 AM.
    Quote Originally Posted by Swordsmyth View Post
    You only show up to attack Trump when he is wrong
    Make America the Land of the Free & the Home of the Brave again

  8. #7
    Quote Originally Posted by RonZeplin View Post
    Silver is way down, saw it as low as $17.07 last evening. Gold was only down a little.

    Good time to buy silver IMO, but who knows it may go even lower.
    Seems like an irrational sell off. I'm buying gold this weekend so happy to get a lower price although the premiums on smaller forms of physical gold suck (0.25 ounce/0.1 ounce Krugerrands).

  9. #8
    Schiff's precious metals analysts suggests one of the reasons for the fall in gold is down to a potential drop in demand from jewelry buyers in India and China due to the virus. He also said people could just be spooked and are holding cash rather than buying a safe haven asset like gold.


    https://youtu.be/yE6sJObncz4



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  11. #9
    (Bloomberg) -- Traders in money markets are starting to bet the Federal Reserve may be forced into an emergency interest-rate cut if the coronavirus gets much worse.

    The wagers are driving down benchmark yields in U.S. Treasuries to record lows. Traders are now pricing more than a full 25-basis-point cut for the Fed in March, with another one expected in June. The last time the Fed cut out of its schedule was in 2008.

    “An emergency cut is clearly a growing possibility for a number of reasons -- from the hit to sentiment, to the lower oil price, moves in equity markets, risks to the global supply chain etc.,” said John Wraith, a rates strategist at UBS Group AG in London. “Unlike most other central banks, they have some room for manoeuvre.”
    The Fed are getting worried about the market. Remember Donald is obsessed with propping up the stock market because if it falls it undercuts his claims of an economic boom.

  12. #10
    Per registered decision, member has been banned for violating community standards as interpreted by TheTexan (respect his authoritah) as authorized by Brian4Liberty Ruling

    May God have mercy on his atheist, police-hating, non-voting, anarchist soul.
    Last edited by Voluntarist; 03-17-2020 at 07:40 PM.
    It happened sometime after they Made America Great Again. You see, I grew a bit weary from all the winning.

  13. #11
    Quote Originally Posted by Voluntarist View Post
    ... and his chances of re-election
    LOL if they think a 20 percent drop in the dow is bad wait until they see Pelosi and Bernie try to nationalize industries.

  14. #12
    I think the Dow survives coronavirus and a quarter without profits and falls no further than 23,360 unless Bernie is the nominee and polling shows he may win.

  15. #13
    Gold down 1.3%, silver down 4% (!!!)

    Dow down 3%.

    FTSE and Dax down 5%
    Last edited by Warlord; 02-28-2020 at 08:58 AM.

  16. #14
    oil down 5% to $45 and change.

    The Saudi's etc getting screwed. couldn't happen to a nicer people.

  17. #15

    Question More money printing, subsidies, and socialism

    Gonna have to subsidize fracking at that oil price, more socialism is on the way IMO.

    NYC socialists like Donnell & Bernie are too big to fail?
    Last edited by RonZeplin; 02-28-2020 at 10:07 AM.
    Quote Originally Posted by Swordsmyth View Post
    You only show up to attack Trump when he is wrong
    Make America the Land of the Free & the Home of the Brave again

  18. #16
    Quote Originally Posted by Warlord View Post
    oil down 5% to $45 and change.

    The Saudi's etc getting screwed. couldn't happen to a nicer people.
    Sauds are going to cancel pilgrimages due to coronavirus .



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  20. #17
    Down currently down another 3.1 percent or 15 percent since the high , silver down 1.00 , gold down 3 percent . I doubt the Dow drops more than 20 percent total and I think gold regains losses , but we will see .
    Last edited by oyarde; 02-28-2020 at 12:29 PM.

  21. #18
    Danke should have dumped that airline stock and given me his 401K money to invest like I asked him a month ago . I may check and see about buying some silver this evening .

  22. #19
    Quote Originally Posted by oyarde View Post
    Danke should have dumped that airline stock and given me his 401K money to invest like I asked him a month ago . I may check and see about buying some silver this evening .
    SIlver down to $16 and change.

    Mos people will never buy it even though you can get an ounce for the price of a few coffee;s.

  23. #20
    Quote Originally Posted by Warlord View Post
    SIlver down to $16 and change.

    Mos people will never buy it even though you can gert an ounce for the price of a few coffee;s.
    Under 6 1/2 gallons of gas gets an ounce . I will be taking a little just because.

  24. #21
    This maybe the first time bears ever get something right.

    Of course, I am leveraged long. You have had one crash in 1987. Every other time the market immediately recovers. Never pays to be a bear on stocks as a group. Gut feeling is market rallies 5% from here over the next week.

    If I am wrong and take a mega loss, I will say good job to bears. There certainly are tons of fundamental reasons for stocks to go down. Goldman Sachs just said zero growth in earnings this year because of the virus vs the expected 7%. Stocks were already overvalued to start. So tons of reasons.

    But VIX hit 49 today. And the oscillators are at not seen before oversold levels. Not even 2008 in the financial crisis. To me the is all in long. If you lose your ass, part of the game. But I don't think you will see an opportunity in your lifetime this good as today.
    Last edited by Krugminator2; 02-28-2020 at 11:33 AM.

  25. #22
    Kudlow showed up on CNBC while at the same time the PPT was activated. It's so obvious that whenever he runs out in front of the cameras for a quick presser, the PPT starts buying chunks of index futures to halt the plunge.
    "Let it not be said that we did nothing." - Ron Paul

    The entire internet is the domain of paid shills and bots. If you don't know this by now....

    Israel, under control of the Crown and, ultimately, the Vatican, own the USA. If you don't know this by now....

    Talk to people about liberty. You won't find it on websites, you won't find it in politicians.

    But now you can't talk to people because of "social distancing"....brought to you by shills and politicians.

  26. #23
    Quote Originally Posted by devil21 View Post
    Kudlow showed up on CNBC while at the same time the PPT was activated. It's so obvious that whenever he runs out in front of the cameras for a quick presser, the PPT starts buying chunks of index futures to halt the plunge.
    EVERY asset behaves this way. Not every stock has a plunge protection team. You can test selloffs and see that buying extreme selling works very well in individual stocks as well as markets. At some point markets get to a level where selling stops. And at the same prices drop to a level where they become attractive to investors.

    There was $22 billion in equity outflows this week. That dollar amount has typically market bottoms.


    Also this next Monday is the first day of the month. It is the most bullish day every month. Buying the end of the month after down days and holding into the new month very bullish. https://www.amazon.com/Anatomy-SPY-F...2911833&sr=8-1 That said maybe this is 1987. A terrible Trump response could break the rubber band.

  27. #24
    Quote Originally Posted by Krugminator2 View Post
    EVERY asset behaves this way. Not every stock has a plunge protection team. You can test selloffs and see that buying extreme selling works very well in individual stocks as well as markets. At some point markets get to a level where selling stops. And at the same prices drop to a level where they become attractive to investors.
    Interesting that it always happens exactly when Kudlow shows up on the tv.

    It could bounce a bit next week, especially after the apparent "buy" signal in the last 15 minutes and the PPT running hot today. It won't last though.
    Last edited by devil21; 02-28-2020 at 03:58 PM.
    "Let it not be said that we did nothing." - Ron Paul

    The entire internet is the domain of paid shills and bots. If you don't know this by now....

    Israel, under control of the Crown and, ultimately, the Vatican, own the USA. If you don't know this by now....

    Talk to people about liberty. You won't find it on websites, you won't find it in politicians.

    But now you can't talk to people because of "social distancing"....brought to you by shills and politicians.



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  29. #25
    Quote Originally Posted by Krugminator2 View Post
    This maybe the first time bears ever get something right.

    Of course, I am leveraged long. You have had one crash in 1987. Every other time the market immediately recovers. Never pays to be a bear on stocks as a group. Gut feeling is market rallies 5% from here over the next week.

    If I am wrong and take a mega loss, I will say good job to bears. There certainly are tons of fundamental reasons for stocks to go down. Goldman Sachs just said zero growth in earnings this year because of the virus vs the expected 7%. Stocks were already overvalued to start. So tons of reasons.

    But VIX hit 49 today. And the oscillators are at not seen before oversold levels. Not even 2008 in the financial crisis. To me the is all in long. If you lose your ass, part of the game. But I don't think you will see an opportunity in your lifetime this good as today.
    Seems reasonable , five percent pickup next week would put it around 10 percent drop which is justified through loss productivity- profits from shutdowns .

  30. #26
    I'm all out of stocks. I posted yesterday that the bearish conditions will take out even the most sensible trades like buying miners. GDX down 8%!

    Just buy physical gold and enjoy the sh1t show.

  31. #27
    By the way: year to date Gold is up 25%, Silver up 16% These dips are good opportunities to get into the market.

  32. #28
    OK so a black Friday didn't quite happen but the stock market has had its worst week since 2008.

    Where it goes from here is anyone's guess. I think we will still see plenty of volatility next week.

  33. #29
    Quote Originally Posted by Warlord View Post
    I'm all out of stocks. I posted yesterday that the bearish conditions will take out even the most sensible trades like buying miners. GDX down 8%!

    Just buy physical gold and enjoy the sh1t show.
    Mining is volatile, no doubt about that. It goes both lower and higher than the underlying metals. But over the long term, miners do better. Compare 1 year or longer, and GDX performs better than gold.

    So basically if GDX takes a big dive, it becomes a much better buy than gold itself when GDX bottoms.

    Holding physical coins or bullion is another matter. Good to have some of that for SHTF scenarios.
    "Foreign aid is taking money from the poor people of a rich country, and giving it to the rich people of a poor country." - Ron Paul
    "Beware the Military-Industrial-Financial-Corporate-Internet-Media-Government Complex." - B4L update of General Dwight D. Eisenhower
    "Debt is the drug, Wall St. Banksters are the dealers, and politicians are the addicts." - B4L
    "Totally free immigration? I've never taken that position. I believe in national sovereignty." - Ron Paul
    They are what they hate. - B4L


    The views and opinions expressed here are solely my own, and do not represent this forum or any other entities or persons.

  34. #30
    +643pts in final 15 minutes. Move along, nothing to see here.

    Just like how the bogus "trade deal" news was used to pump the bubble, generally bogus "coronavirus" news will probably be used to deflate it. 3-6 is the 11th anniversary of S&P 666... (/numbers)

    I expect a couple of modest up days to start next week and then back off a cliff again when the next batch of virus news hits. This cycle will roughly repeat for most of the year. My .02.
    Last edited by devil21; 02-28-2020 at 04:19 PM.
    "Let it not be said that we did nothing." - Ron Paul

    The entire internet is the domain of paid shills and bots. If you don't know this by now....

    Israel, under control of the Crown and, ultimately, the Vatican, own the USA. If you don't know this by now....

    Talk to people about liberty. You won't find it on websites, you won't find it in politicians.

    But now you can't talk to people because of "social distancing"....brought to you by shills and politicians.

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