Market testing the lows from Oct

factoryfatty
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factoryfatty 3/24/2020 12:22pm
3/24/2020 12:22pm
Look out for the new digital dollar:

"The bill establishes a digital dollar, which it defines as ‘a balance expressed as a dollar value consisting of digital ledger entries that are recorded as liabilities in the accounts of any Federal Reserve Bank or ... an electronic unit of value"

Don't forget your digital dollar wallet

"digital dollar wallet is identified as ‘a digital wallet or account, maintained by a Federal reserve bank"

https://www.forbes.com/sites/jasonbrett/2020/03/23/new-coronavirus-stim…


This should end well for the average Joe....
az2u
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az2u 3/24/2020 12:28pm
3/24/2020 12:28pm
DOCU and FIVN nearing 52 week hi.
mjr119 3/24/2020 12:36pm
3/24/2020 12:36pm
I just added some SQQQ and SPXU positions. Not many, will average down tomorrow if more green. But I am expecting flat at best. This week will end red IMO.

I did make some money on a quick BAC trade today. Still not anywhere near ready to jump back into any single stocks long-term.

I will be dollar cost averaging some index funds as we have more down days. Can't go wrong there....
500guy
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500guy 3/24/2020 12:58pm
3/24/2020 12:58pm
avidchimp wrote:
Traders gambling on a bailout would be my guess. I have to say, not owning one share of stock that I actually control is pretty relaxing...
Traders gambling on a bailout would be my guess. I have to say, not owning one share of stock that I actually control is pretty relaxing. Between MX/SX, if I traded like you guys do I'd never get anything done.
The Stock market for me is like Sex in the 9th grade, I think and talk about it way more than I participate.
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freeh
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freeh 3/24/2020 2:25pm
3/24/2020 2:25pm
500guy wrote:
The Stock market for me is like Sex in the 9th grade, I think and talk about it way more than I participate.
And I'm just as confused about what to do and when!
3
XXVoid MainXX
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XXVoid MainXX 3/24/2020 2:35pm
3/24/2020 2:35pm
And I always shoot my load way too soon.
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Ebs
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Ebs 3/24/2020 3:13pm
3/24/2020 3:13pm
This is pretty much week two of a multi-month pandemic response in the US, businesses are only just shutting down, and for some time. Does anyone think the market isn't going to tank further? I really don't see how it could not.


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XXVoid MainXX
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XXVoid MainXX 3/24/2020 3:47pm
3/24/2020 3:47pm
I really think, more than anything, that I cannot predict what the market will do. The obvious choice isn't what always happens.
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Black Diesel Bomber 3/24/2020 4:17pm
3/24/2020 4:17pm
Ebs wrote:
This is pretty much week two of a multi-month pandemic response in the US, businesses are only just shutting down, and for some time. Does anyone...
This is pretty much week two of a multi-month pandemic response in the US, businesses are only just shutting down, and for some time. Does anyone think the market isn't going to tank further? I really don't see how it could not.


You would think, but the market doesn't always correlate with economic conditions. That's how we all lose money by betting on the obvious and then the market move in the opposite direction.

I'm still betting on another ledge here soon. Unless the media is starting to really exaggerate, there's just way too much bad news ahead of us that should cause another steep drop. We also have earnings coming up that is another potential source of bad news.
factoryfatty
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factoryfatty 3/24/2020 4:36pm
3/24/2020 4:36pm Edited Date/Time 3/24/2020 4:39pm
Ebs wrote:
This is pretty much week two of a multi-month pandemic response in the US, businesses are only just shutting down, and for some time. Does anyone...
This is pretty much week two of a multi-month pandemic response in the US, businesses are only just shutting down, and for some time. Does anyone think the market isn't going to tank further? I really don't see how it could not.


Well the Fed just started buying ETF's so you can't be too surprised we're getting a boom with all that liquidity getting pumped in.

https://www.marketwatch.com/story/the-fed-is-going-to-buy-etfs-what-doe…

Next move they'll probably start buying equities outright.

You thought buybacks were sweet, wait til a buyer comes in that can print to infinity!
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Premix
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Premix 3/24/2020 5:14pm
3/24/2020 5:14pm
Q1 reports will make things interesting
borg
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borg 3/24/2020 6:27pm
3/24/2020 6:27pm
Ebs wrote:
This is pretty much week two of a multi-month pandemic response in the US, businesses are only just shutting down, and for some time. Does anyone...
This is pretty much week two of a multi-month pandemic response in the US, businesses are only just shutting down, and for some time. Does anyone think the market isn't going to tank further? I really don't see how it could not.


Not even trying to make a prediction but before this virus became known, I thought the market was somewhat overbought. A correction of some depth was due. The virus started the ball rolling and very soon after, the scuttlebutt was about what it will do to the economy. The two issues were weighing on the market almost from the git go. So, I think that a large amount of the market reaction to a recession is already baked in the cake.
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billyslad
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billyslad 3/25/2020 12:27am
3/25/2020 12:27am
Very interesting watch and read
hard2kill
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hard2kill 3/25/2020 6:39am
3/25/2020 6:39am
XXVoid MainXX wrote:
I really think, more than anything, that I cannot predict what the market will do. The obvious choice isn't what always happens.
Hey Void, don't know if this will help you, but here is some info from some of the major economic players on how this thing might play out:

az2u
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az2u 3/25/2020 7:38am
3/25/2020 7:38am
az2u wrote:
INSP Bought some at 42.92.Should have waited a little longer.
INSP sold @48.54.
XXVoid MainXX
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XXVoid MainXX 3/25/2020 7:56am
3/25/2020 7:56am
Boeing is really trying to make me feel like a genius.
Premix
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Premix 3/25/2020 8:25am
3/25/2020 8:25am
XXVoid MainXX wrote:
Boeing is really trying to make me feel like a genius.
Same here. Bought 10 shares at 99.68 last week. Up to 163 now.
XXVoid MainXX
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XXVoid MainXX 3/25/2020 8:39am
3/25/2020 8:39am
XXVoid MainXX wrote:
Boeing is really trying to make me feel like a genius.
Premix wrote:
Same here. Bought 10 shares at 99.68 last week. Up to 163 now.
I sold all my BA in December at around 350 (which was at a profit from where I bought much earlier) and on Monday bought back double what I sold at 97, now back up to 170. I know it can all turn in an instant though.
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500guy
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500guy 3/25/2020 10:45am
3/25/2020 10:45am
So I bought VOO the other day at $217 that brought my total cost down to $227 , I just sold it all today at $233.56

The way it's been fluctuating I hope to buy it back at around $215-$220 then I will hold it again for a few years.
XXVoid MainXX
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XXVoid MainXX 3/25/2020 10:57am
3/25/2020 10:57am Edited Date/Time 3/25/2020 10:59am
I used to have a bunch of VOO but sold it all last year. Lately I've been putting money in VGT for similar reasons that I used to put money into VOO for (steady gains, when there isn't a worldwide pandemic). EDIT: Sorry, typoed which fund I have now. Fixed Smile
XXVoid MainXX
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XXVoid MainXX 3/25/2020 12:12pm
3/25/2020 12:12pm
10 year comparison:

mjr119 3/25/2020 1:13pm
3/25/2020 1:13pm
Wow, HUGE sell-off the last 30 mins. I am seeing RED tomorrow! Hopefully my shorts pay off. I was sweating today!
PastranaWho
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PastranaWho 3/25/2020 2:39pm
3/25/2020 2:39pm
Been riding BA since $97.
Kjbmx520
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Kjbmx520 3/25/2020 3:37pm
3/25/2020 3:37pm
Just bough into BA today. I was going to last week when it was under $100 but thought it was going lower. Feel like I probably got in to late but we will see. Really kicking myself for not buying Royal Caribbean at $23. I get nervous to buy because I feel we haven’t seen the worse yet. What are some of y’all buying right now?
XXVoid MainXX
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XXVoid MainXX 3/25/2020 3:41pm
3/25/2020 3:41pm
I'm going to try and keep what little powder I have left dry for a couple more weeks to see how things play out. I'm not sure this is over yet.
1
Black Diesel Bomber 3/25/2020 4:19pm
3/25/2020 4:19pm
XXVoid MainXX wrote:
I'm going to try and keep what little powder I have left dry for a couple more weeks to see how things play out. I'm not...
I'm going to try and keep what little powder I have left dry for a couple more weeks to see how things play out. I'm not sure this is over yet.
We just saw the pump, now get ready for the dump.
reded
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reded 3/25/2020 5:10pm
3/25/2020 5:10pm Edited Date/Time 3/25/2020 5:11pm
I’ve just been day trading trying to score $100-$200/day here and there between a few different stocks and at this point in time it’s working out pretty well but it won’t last forever. I’m fairly new at this game but would like to know what you vets think are good bets for the long term without having to spend my life savings trying to buy in.
borg
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borg 3/25/2020 6:48pm
3/25/2020 6:48pm
XXVoid MainXX wrote:
I'm going to try and keep what little powder I have left dry for a couple more weeks to see how things play out. I'm not...
I'm going to try and keep what little powder I have left dry for a couple more weeks to see how things play out. I'm not sure this is over yet.
Nobody is. No matter what they say.
My guess is that it will retest the lows at some point but the Dec '18 correction did not. It was a V bottom. If you blinked you missed it. Different situation though. The reason I think it will bob and weave around these levels is because of the uncertainty of how bad and how long the recession will be. Because China pulled through and Italy is seeing light at the end of the tunnel, virus panic in the market is pretty much done. We're not all going to die. Now it's the economy.
Thursday will be the unemployment initial claims report. Should be a doozy. Might move the markets.
The first Friday of April will have the employment report. Ditto.
Strap in. Quarterlies will be coming but I don't expect they will show the full impact. June quarterlies will.

Sorry for being so wordy, I'm bored as fuck.

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borg
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borg 3/26/2020 6:57am
3/26/2020 6:57am
Worst initial claims report ever and the market rallies. The markets hate uncertainty but they knew this was coming. Meh.
Your BA trade is looking real good right now Void.

Don't be surprised if the market sell off tomorrow.
mikec265
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mikec265 3/26/2020 7:27am
3/26/2020 7:27am
I have a lot in 3x bear gold ETFs. I'm hoping for a crash later today and thru tomorrow. Hats off to the guys who won this week.

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