Consensus expectations were 1.64M. The actual number was twice as bad, and 50% higher than Goldman's.
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Stock Market Watch |OT| I've stocked up on market watches, what now?
- Thread starter Mr.Awesome
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wow...ur right....going up 3% so far.
Should I wait or just buy my stocks?
again im 26 years away from using my roth
I am completely out of my depth here, but from my perspective I just don't believe the bill is enough. Certainly not enough to reverse the trend of even more layoffs and furloughs as companies heavily reliant on consumer spending continue to downsize.
Approaching this pandemic which will likely last multiple months with what I feel is a stopgap solution just doesn't make sense.
Approaching this pandemic which will likely last multiple months with what I feel is a stopgap solution just doesn't make sense.
OP
OP
Up to you. My money is on wait (literally). I think we have more to fall over the next month or so.
This is what can get through pubs. The fed is basically doing unlimited money on the other side of it.
The market is dumb.
And you're saying the Market didn't price in the passing of the bill that we had every detail on for the past week...
They did, then deal fell through a few times and market dropped again, then apprehension set in.
Market is riding the wave right now. The big banks know this likely won't last. They have the most brilliant quants in the workforce on payroll and access to all the same historical data.
Thats why it's difficult to time. Historical recession data says S&P should touch 2700 before it drops again. But everyone knows that, so it could happen earlier or later since everyone is looking for an edge. It's a big game of chicken.
Timing the market is gambling. Remember that.
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It is this way because tax rates being low coupled with expansionary fiscal AND monetary policy is a bad, bad mixture. We experienced hyper inflation in the stock market essentially. We will have to raise takes on the wealthy and eventually bring back reasonable interest rates to see a return of healthy, well functioning markets.
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The problem here too is this isn't a typical recession so it's hard for us to overlay it. We have people essentially betting that these are "good deals" because the economy is going to spin back up quickly and people who think it'll tank hard because this will go on far longer than we thought.
This isn't a clear trajectory and if it was, it would be easy to invest.
This isn't a clear trajectory and if it was, it would be easy to invest.
Unemployment numbers skyrocketing, so things are looking pretty good!
Seriously, though, what the fuck.
Seriously, though, what the fuck.
Wtf is with this market? Cashed out day before yesterday as I was positive it would plummet by at least today, and yet here we are. Ugh. Should have left it in. I still think it's heading down at some point, but this is bizarre. All bad news and up up up it goes.
Drop 35 percent in one month we were going to get one heck of a snap back if it happened. Remember, long stretched rubber band to the downside. Either market was going to break and fall off a cliff or snap back hard. We got the snap back. Big money might be going for spy 260 now. Could go as high as 270 if you believe we are in wave 4 of an Elliot wave. Above 270 and the market might be pricing in this event will be ending in a couple months. Interesting times.
Just sold off my 100 shares of MGM at $14 a piece, bought them about $8.50, so about $550 profit (65% gain). I might reinvest it back into MGM if it ever gets that low again lol
Also sold off some shares of NTDOY (Nintendo), only had 13. So gained a nice $100 from that too.
Also sold off some shares of NTDOY (Nintendo), only had 13. So gained a nice $100 from that too.
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For those of you wondering why the market is going up, remember that the market is driven by people. It is irrational.
But irrational can only go so far, especially when going up. The unemployment numbers, abysmal PMI and earnings will push it back down within 2 weeks.
But irrational can only go so far, especially when going up. The unemployment numbers, abysmal PMI and earnings will push it back down within 2 weeks.
This is what I did when we were in the 19K range. Had a bunch of money sitting around uninvested and didn't want to add more to my portfolio when we were peaking at 29K because it just felt like it wasn't going to last, although no one could have predicted a drop this precipitous. Stuck a bunch in a few ETFs. Helps that I am not a day trader, just someone investing for retirement.
It's an artificial attempt to rally on the back of the Senate stimulus package, and 99% chance it will fail as more and more economic bad news drop between record unemployment, and awful drops in Fiscal Results all around, not counting the continuing pandemic news.
The fed just invented Trillions and Trillions and gave them out in short term loans.
I definitely threw in $5k at one of the cruise lines when it dropped to $19/share (from $135/share in January). Currently, it's at $46/share so I've more than doubled my investment (potentially, obv as I haven't withdrawn) but won't take it out for years to come. This should work out nicely.
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Transferred more money into my brokerage account, but I guess I'm just going to sit on it for another week or so and see what happens. I just don't see how this is sustainable in any sort of way.
If beating the previous record for single week unemployment numbers by 400% isn't 'really big' I don't know anything anymore.
Norwegian and carnival where at like 10 bucks. Delta was stupid down and obviously Boeing hit like sub 90
That's partially why we're already as low as we are. -35% in one month is catastrophic.
Yeah I got Norwegian at like $8 I sold at $18. Just not sure we've hit peak coronavirus panic imo. Maybe I'm wrong.
may I ask what you use to buy and sell stocks? I just have a roth but would like to play around with a little money
The Dow Jones isn't the economy. Congress just gave companies Billions of dollars to keep themselves afloat. This doesn't mean these same companies won't layoff people in a down economy. People say the market is unpredictable but from what I've seen there is some predictability to it. It was always going to go up based on the passage of this bill. Now how many days this last I couldn't tell you. It wishful thinking for the people at the top to think this virus consequences will only last a few weeks.
I think it might have to do with expectations. People expected them to be insane so it wasn't as much of a shock.
Looks that way to me too. Downtrend still not been broken yet. Big rallies happen in bear markets, this was expected from a technical perspective. Now it should get a little tougher to move higher because coming into some overhead resistance soon. Whether it be spy 260 or 270. The charge higher can't falter now if the trend is going to be broken.
Yup, if anything the stock market is a market of repeating patterns over history. Take a look at virtually any chart and you will see the same patterns happen over and over and over and over again.
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