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Author Topic: 16 Mar 2020- Stock and Financial Markets Discussion Thread  (Read 1146 times)

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Online catfish1957

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16 Mar 2020- Stock and Financial Markets Discussion Thread
« on: March 16, 2020, 04:42:34 am »
15 Mar 2020 11:15 CDT

Fed announces interest rate cuts to 0% to counter Coronivirus impact.

DJIA Futures-  Down 1041 , -4.5%
S & P 500 Futures- Down 128,  -4.7%
NASDAQ Futures- Down 359, - 4.5%

Circuit Breaker limits @ opening

Gold $1545/oz, up 2%

WTI- $31.21/bbl

Pacific Rim Trading
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Nikkei Down 0.2%


VIX Futures- 57

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Offline Free Vulcan

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Re: 16 Mar 2020- Stock and Financial Markets Discussion Thread
« Reply #1 on: March 16, 2020, 06:57:35 am »
SPX and VIX will only trade electronically today - no open outcry. Bid/ask spreads expected to widen.
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Online catfish1957

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Re: 16 Mar 2020- Stock and Financial Markets Discussion Thread
« Reply #2 on: March 16, 2020, 11:57:23 am »
16 Mar 2020 06:50 CDT Update



DJIA Futures-  Down  -8.4%
S & P 500 Futures- Down -5.2%
NASDAQ Futures- Down  - 6.6%

Circuit Breaker limits @ opening

Gold $1462/oz, down 2.6%

WTI- $29.35/bbl

Pacific Rim Trading
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Nikkei Down 2.2%
HangSeng Down 4.0%
AAO Down 9.5%

Europe Trading
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FTSE- Down 6.4%
CAC - Down 8.9%
DAX- Down 7.6%


VIX Futures- 57 (?)

With no good news on the horizon, I still see downward pressure on markets.  Best news would be something positive about a vaccine, or if COVID-19 cases start showing some statistical subsidence.
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Offline Gefn

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Re: 16 Mar 2020- Stock and Financial Markets Discussion Thread
« Reply #3 on: March 16, 2020, 01:45:08 pm »
It’s all going down, down, down.... :facepalm: :facepalm2:

 888cryingkitty
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Online catfish1957

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Re: 16 Mar 2020- Stock and Financial Markets Discussion Thread
« Reply #4 on: March 16, 2020, 01:49:19 pm »
16 Mar 2020 08:50 CDT Update



DJIA -  Down 11.8% @ 20,456
S & P 500  Down 10.1% @ 2438
NASDAQ Down  - 11.5% @6966

Dropping rapidly. 

Oil- $28.37/bbl

Gold - $1488/oz



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Online mystery-ak

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Re: 16 Mar 2020- Stock and Financial Markets Discussion Thread
« Reply #5 on: March 16, 2020, 02:03:37 pm »
Stocks plummet after Fed zeros-out interest rates

Stocks plunged Monday morning in the wake of the Federal Reserve’s drastic Sunday action to protect the economy and stabilize financial markets upended by the coronavirus pandemic.

The Dow Jones Industrial Average sunk 2,442 points, falling more than 10 percent shortly before 10 a.m Monday. The S&P 500 fell 9.8 percent, triggering an automatic 15-minute pause in trading that occurs whenever the index falls at least 7 percent after the opening bell, and the Nasdaq composite sunk 9.6 percent.

more
https://thehill.com/policy/finance/487760-stocks-plummet-after-fed-zeros-out-interest-rates
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Online catfish1957

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Re: 16 Mar 2020- Stock and Financial Markets Discussion Thread
« Reply #6 on: March 16, 2020, 02:04:02 pm »
Quote from: Gefn on March 16, 2020, 01:45:08 pm
It’s all going down, down, down.... :facepalm: :facepalm2:

 888cryingkitty

Was really hoping for some stability, to feel for a bottom.  Not sure when the bear gets off our chest. 

Markets up a couple of percent in the past 15 minutes. 
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Offline Free Vulcan

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Re: 16 Mar 2020- Stock and Financial Markets Discussion Thread
« Reply #7 on: March 16, 2020, 02:48:28 pm »
I figured we'd retest the lows. Looks like the market's bounced and headed up, we'll see if it holds.
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Online catfish1957

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Re: 16 Mar 2020- Stock and Financial Markets Discussion Thread
« Reply #8 on: March 16, 2020, 02:49:11 pm »
Quote from: Free Vulcan on March 16, 2020, 02:48:28 pm
I figured we'd retest the lows. Looks like the market's bounced and headed up, we'll see if it holds.

VIX @75  :thud:

« Last Edit: March 16, 2020, 02:51:58 pm by catfish1957 »
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Offline Gefn

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Re: 16 Mar 2020- Stock and Financial Markets Discussion Thread
« Reply #9 on: March 16, 2020, 02:51:11 pm »
Quote from: Free Vulcan on March 16, 2020, 02:48:28 pm
I figured we'd retest the lows. Looks like the market's bounced and headed up, we'll see if it holds.


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Online Hoodat

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Re: 16 Mar 2020- Stock and Financial Markets Discussion Thread
« Reply #10 on: March 16, 2020, 02:52:49 pm »
Quote from: Free Vulcan on March 16, 2020, 02:48:28 pm
I figured we'd retest the lows. Looks like the market's bounced and headed up, we'll see if it holds.

Not yet.   I just boosted my 401(k) contribution, but it won't kick in until April 1.
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Offline Idiot

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Re: 16 Mar 2020- Stock and Financial Markets Discussion Thread
« Reply #11 on: March 16, 2020, 02:57:27 pm »
Quote from: Free Vulcan on March 16, 2020, 02:48:28 pm
I figured we'd retest the lows. Looks like the market's bounced and headed up, we'll see if it holds.
:amen:
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Re: 16 Mar 2020- Stock and Financial Markets Discussion Thread
« Reply #12 on: March 16, 2020, 03:37:18 pm »
Well, listened to Beck this a.m.  Banks are borrowing billions of dollars to cover cash -- now it is into the trillions. That's not a good sign as they are getting loans from the feds in order to cover the money that they are supposed to have to cover deposits.

Our 30 year treasury's were on sale -- NO other country would purchase them.  None. Zero.  Our debt is such that nobody thinks that the U.S. is a good investment.

As for the market -- I don't think we've seen lows.  Especially as it looks like we could be heading into a recession if not a depression.
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Re: 16 Mar 2020- Stock and Financial Markets Discussion Thread
« Reply #13 on: March 16, 2020, 03:39:15 pm »
Market is down over 1600 pts.  Futures are down 1400 pts.  Right now the market is down 6% since opening -- and about 4 more hours to trade.
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Offline Free Vulcan

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Re: 16 Mar 2020- Stock and Financial Markets Discussion Thread
« Reply #14 on: March 16, 2020, 08:03:39 pm »
I don't know if I've ever seen this in my life - option calls jumping in price with the market plunging - because the VIX is rising so fast.

The VIX has I believed topped it's all time high set after 9-11.
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Online Hoodat

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Re: 16 Mar 2020- Stock and Financial Markets Discussion Thread
« Reply #15 on: March 16, 2020, 08:05:31 pm »
The market would be doing better had the FED not panicked yesterday.
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Offline skeeter

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Re: 16 Mar 2020- Stock and Financial Markets Discussion Thread
« Reply #16 on: March 16, 2020, 08:06:29 pm »
Quote from: Free Vulcan on March 16, 2020, 08:03:39 pm
I don't know if I've ever seen this in my life - option calls jumping in price with the market plunging - because the VIX is rising so fast.

The VIX has I believed topped it's all time high set after 9-11.

All because of a seasonal flu bug.

IMO.
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Offline Idiot

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Re: 16 Mar 2020- Stock and Financial Markets Discussion Thread
« Reply #17 on: March 16, 2020, 08:06:30 pm »
Quote from: Free Vulcan on March 16, 2020, 08:03:39 pm
I don't know if I've ever seen this in my life - option calls jumping in price with the market plunging - because the VIX is rising so fast.

The VIX has I believed topped it's all time high set after 9-11.
Look at the bright side...  If we all die from this then we won't need this retirement money anyway.   :laugh:
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Re: 16 Mar 2020- Stock and Financial Markets Discussion Thread
« Reply #18 on: March 16, 2020, 08:14:27 pm »
Trump during today's press conference stated that we maybe headed into a recession.  There is nothing positive to promote an uptick. Market is hovering around 20,000. 
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Live in harmony with one another; do not be haughty, but associate with the lowly, do not claim to be wiser than you are.  Do not repay anyone evil for evil, but take thought for what is noble in the sight of all.  If it is possible, so far as it depends on you, live peaceably with all…do not be overcome by evil, but overcome evil with good.

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Re: 16 Mar 2020- Stock and Financial Markets Discussion Thread
« Reply #19 on: March 16, 2020, 08:16:03 pm »
Quote from: skeeter on March 16, 2020, 08:06:29 pm
All because of a seasonal flu bug.

IMO.

The coronavirus is NOT a seasonal flu bug.  It is NOT a flu virus.  It is a coronavirus and acts more like pneumonia and is more fatal.
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Live in harmony with one another; do not be haughty, but associate with the lowly, do not claim to be wiser than you are.  Do not repay anyone evil for evil, but take thought for what is noble in the sight of all.  If it is possible, so far as it depends on you, live peaceably with all…do not be overcome by evil, but overcome evil with good.

Online catfish1957

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Re: 16 Mar 2020- Stock and Financial Markets Discussion Thread
« Reply #20 on: March 17, 2020, 04:06:10 am »
16 Mar 2020 11:00 p.m. CDT Update


10:30 p.m update


Terrible and historic day.  Fed's decison to drop rates to zero basically was the Little Dutch boy sticking his finger in the dike witholding a tsumani.

Here are some crash / bear market comparisons in DJIA U.S. History-
* Great Depression -Late October 1929- July 1932 - 84% loss
* Stagflation extended crash '65-'82- 72% loss
* October 1987- 26% loss
* '00-'01 Dot Com crash- 33% loss.  Tech heavy NASDAQ lost  67%
* 08-'09 Crash- 47%
* February - March 2020 Crash thus far- 32% Loss

DJIA -  Down 12.9% @ 20,188.    futures up 3.0%
S & P 500  Down 12.0% @ 2386.  futures up 3.1%
NASDAQ Down  - 12.3% @6904.   futures up 3.4%
 

Oil- $29.65/bbl

Gold - $1495/oz

AP Rim markets open

Hang Seng- +0.4%
« Last Edit: March 17, 2020, 04:07:16 am by catfish1957 »
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Offline Free Vulcan

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Re: 16 Mar 2020- Stock and Financial Markets Discussion Thread
« Reply #21 on: March 17, 2020, 04:47:31 am »
Believe it or not, S+P futures were limit up on the overnite. Are just below that right now.
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Online catfish1957

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Re: 16 Mar 2020- Stock and Financial Markets Discussion Thread
« Reply #22 on: March 17, 2020, 04:56:37 am »
Quote from: Free Vulcan on March 17, 2020, 04:47:31 am
Believe it or not, S+P futures were limit up on the overnite. Are just below that right now.

With a day where most of the day the VIX was over 80?  We all need neck guards from all the market movement whiplash.
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Re: 16 Mar 2020- Stock and Financial Markets Discussion Thread
« Reply #23 on: March 17, 2020, 02:57:14 pm »
Quote from: catfish1957 on March 17, 2020, 04:56:37 am
With a day where most of the day the VIX was over 80?  We all need neck guards from all the market movement whiplash.
Maybe people are starting to see that there is indeed an end to this craziness. 
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Re: 16 Mar 2020- Stock and Financial Markets Discussion Thread
« Reply #24 on: March 17, 2020, 03:27:20 pm »
Quote from: mrpotatohead on March 17, 2020, 02:57:14 pm
Maybe people are starting to see that there is indeed an end to this craziness.

Gov. Cuomo gave a presser this morning doing everything he could to lower consumer confidence.
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If a political party does not have its foundation in the determination to advance a cause that is right and that is moral, then it is not a political party; it is merely a conspiracy to seize power.

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