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Everything posted by nuckin_futz
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US and South Korea detected their first coronavirus case on the same day - Thu 19 Mar 2020 01:51:38 GMT Here's a bit of reading via Reuters on the starkly different response to the threat from the two countries. South Korea's swift action vs, delayed and chaotic testing in the United States will cost lives Lengthy story in the link Link here.
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Investing in the stock market - Discussion
nuckin_futz replied to AV's Coin's topic in Off-Topic General
Don't know if anyone pays attention to metals but silver is looking alright down here. 5 days ago it was $17. Today it's $12 EWZ looks alright too. EWZ is the Brazilian market ETF. 10 days ago it was $39. Today it closed at $22.33. A 43% drop in that time frame seems a tad oversold. -
Investing in the stock market - Discussion
nuckin_futz replied to AV's Coin's topic in Off-Topic General
Not so much investment related but gives a little color on whats happening. The wild volatility elsewhere has finally infected the world's biggest market Wed 18 Mar 2020 17:07:35 GMT The foreign exchange market reaches the breaking point We have had a few 'flash crashes' in the past several years in the currency market but most come at an illiquid time of day or during a holiday. The latest one has hit right in the heart of the day as everyone holding pounds absolutely liquidates in an increasing sign of market disorder. A 300-pip gap lower over 20 minutes is nearly unprecendented. It speaks to the massive US dollar funding squeeze that's underway. There is a rush to get into the safety of US dollars from nearly everywhere. I have to wonder if the unprecedented access to FX and dollar-denominated assets globally is a new feature in markets -- even moreso than in the financial crisis. Right now, US dollar longs are the only thing that's working so investors around the world are absolutely piling in. In the bigger picture, I think this is a sign of a generalized rise in FX. Maybe that's stating the obvious at this point but FX has been relatively tame until this week. The thing about volatility is that it tends to last far longer than anyone expects and leads to larger moves than anyone expects. It looks like it's happening in commodity currencies now with the Australian dollar cratering 5% lower and the Canadian dollar in liftoff. **************** Rumors of a big equity market participant in distress. Hearing it's Citadel. If it's them it couldn't happen to a bigger bunch of dbags. -
Investing in the stock market - Discussion
nuckin_futz replied to AV's Coin's topic in Off-Topic General
Some very popular ETF's to consider : SPY this is the S&P 500, a small chunk of all 500 companies in the index, pays a dividend DIA this is the Dow Jones Industrials, a small chunk of all 30 companies in the index, pays a dividend QQQ this is the Nasdaq index, a small chunk of all leading companies in the index. Mainly tech and bio tech. pays a dividend -
Joe Biden Debates Donald Trump September 29
nuckin_futz replied to DonLever's topic in Off-Topic General
Hold your horses guys. Bernie says no way Jose. .............. Sen. Sanders: "Absolutely false" that he is suspending his campaign Wed 18 Mar 2020 15:59:52 GMT AXIOS reported that he was to suspend his candidacy Sen. Bernie's Sanders spokesman is on the wires saying that it is "absolutely false" that he is suspending his campaign ******************* Axios is normally more reliable than this. -
WTI $22.71 -15%, Western Canadian Select $8.81 -32%
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Joe Biden Debates Donald Trump September 29
nuckin_futz replied to DonLever's topic in Off-Topic General
I could see Biden handing it off after one term. No way he could say that now though. Pretty sure it's going to be Klobuchar. She didn't drop out 1 day before Super Tuesday and endorse Biden w/o getting promised something pretty sweet. Plus her Senate seat is safe. -
Joe Biden Debates Donald Trump September 29
nuckin_futz replied to DonLever's topic in Off-Topic General
Bernie Sanders to suspend presidential campaign Wed 18 Mar 2020 15:50:03 GMT Axios reporting Axios is reporting that Sen. Bernie Sanders has suspended his presidential campaign. Yesterday Biden won all 3 states, and has a formidable lead. That leaves Biden as the Democratic candidate for President. -
Canada PM Trudeau: Announces stimulus worth 3% of Canada's economy Wed 18 Mar 2020 14:56:16 GMT Announces 3% of GDP fiscal stimulus package. Greater than expectations. Canada's PM Trudeau is on the wires announcing a stimulus worth 3% of Canada's economy. He adds: Canada to provide up to C$27B to help Canadians and businesses Canada provide C$55B to meet liquidity needs of business and households through tax deferrals Canada to provide temporary wage subsidy for up to 3 months to allow businesses to keep workers on payroll The total Canada aid package totals C$82B Canadians will have until August 2020 to pay taxes Trudeau adds that they are willing to do more to aid economic activity. The amount of stimulus is much greater than the earlier sources estimate of at least 1% of GDP So far the USDCAD is unimpressed. It remains near the high for the day and at the highest levels since January 2016.
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Telegraph: London braces for lockdown as government prepares emergency bill Wed 18 Mar 2020 14:24:35 GMT London's Daily Telegraph The London Daily Telegraph is reporting that sources close to the mayor's office, says shutdown of the capital expected in coming days. It adds that government will be able to close premises. There is alarm that Boris Johnson's call for people to avoid pubs and restaurants and to work at home is being ignored in the large numbers Legislation in the coronavirus bill: would give the government emergency powers to close premises and restrict or prohibit events and gatherings that includes restricting transport networks New York City Mayor is talking about shuttering the city.
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Investing in the stock market - Discussion
nuckin_futz replied to AV's Coin's topic in Off-Topic General
For the love of God. Do not use market orders, you're literally asking to be ripped off. Are you aware of what 'payment for order flow' is? There is nothing wrong with buy and hold. In fact the biggest money is made by sitting on your hands and letting the market do the heavy lifting. The volatility we are seeing today is the result of supressing volatility for many years. -
Investing in the stock market - Discussion
nuckin_futz replied to AV's Coin's topic in Off-Topic General
You don't see it that way because you are using the markets for their intended purpose. You are in the vast minority. +95% of all volume is algorithmic gambling. How else could you explain the average hold time of a stock being about 14 minutes. That's including all those who hold theirs for 10+ years. Those running algorithms are not poorly informed. They're some of the smartest guys/funds/quants out there. If firms like Citadel, 2 Sigma and Virtu closed shop the liquidity you like would be absent. As those 3 firms account for up to 50% of all trading volume. Ever placed an order and had it front run by a penny in a hundredth of a second? If you answered no, you are wrong. You have been, you just didn't notice. That's Citadel or Virtu gaming your order. Ever tried to hit the offer and have someone else take the shares before you could. That's Citadel or Virtu having seen you express an interest and grabbing them ahead of you, hoping to sell it to you at a higher price. That's how the modern markets work. It is a den for over leveraged degenerate gamblers. And yes I certainly include Citadel, 2 Sigma, Virtu etc in that group. Fun fact : The owner of Virtu Financial Vinnie Viola also owns the sad sack Florida Panthers. -
Keep in mind this hasn't actually happened. It's something National Bank is considering. National is a rather small bank. If you hear the big banks actually doing this then maybe have that conversation. As your landlord is unlikely to have a mortgage with them.
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The payments are not forgiven, they're deferred. The total amount of the mortgage is still owed in full. The mortgage holder can just stop paying for 6 months and they'll tack it on to the end of the mortgage. It would certainly aid in allowing people to stay put and isolate for a while while the virus passes.
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Yeah I hope not. Also, could not pass up pointing out the irony of your avatar smoking.
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I asked my nephew who's in grade 12, how many people do you know who vape? His answer was 'way too many'. He does not vape FWIW.
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The bans are really meaning business........ Orange County California full Coronavirus lockdown. All gatherings, any size, banned. Wed 18 Mar 2020 02:33:18 GMT Order issued during the afternoon in California All public and private gatherings of any number of people, including at places of work, occurring outside a single household or living unit are prohibited. However, nothing in this Order prohibits the gathering of members of a household or living unit. This prohibition applies to all professional, social, and community gatherings, regardless of their sponsor, that are not engaged in Essential Activities San Fransisco enacted a "Shelter in Place" order Monday New York City close to enacting "Shelter in Place" Shelter in place is a near total ban on movement. Like what they did in Hubei province in China. You'd be allowed out only under limited circumstances like getting supplies or walking your dog if you maintained a 6 ft distance from everyone.
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There have been cases of people getting re-infected. But it is unclear if they were totally clear from the first infection. So at this point it is an open question. If anyone has better info please correct me.
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Coronavirus - Canada will announce details of CAD 27bn economic package on Wednesday Wed 18 Mar 2020 00:18:13 GMT COVID-19 relief economic package coming up according to a Canadian government source - Reuters report (unnamed govmt. source) Canada to announce C$27 billion economic aid package on Wednesday aid package will boost unemployment insurance payments, child benefits, push back tax deadlines Canada not yet ready to offer aid to airlines
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Coronavirus - National Bank of Canada considering payment deferrals on mortgages up to 6 months Wed 18 Mar 2020 00:51:45 GMT NBC is Canada's 6th largest commercial bank - mulling its response to the COVID-19 impact. considering payment deferrals on mortgages up to 6 months special loans to cover living expenses may be offered I'd be awaiting details on this if you are in Canada, what the terms etc will be. That 6 month timeframe the bank is flagging does sound about right to me. The deleterious effects could stretch on longer though.
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Mnuchin warns senators lack of action could result in 20% unemployment rate, source says Washington (CNN)Treasury Secretary Steven Mnuchin warned Republican senators Tuesday morning that without action the coronavirus pandemic could drive up US unemployment to 20%, a Republican Senate source told CNN. Mnuchin's comments came as he urged Republican senators to act on economic stimulus measures totaling $1 trillion designed to avert that kind of worst case scenario. CNN has reached out to the Treasury Department for comment. In the same meeting, Mnuchin also said he is concerned the economic ramifications of the coronavirus pandemic could be worse than the 2008 financial crisis, the source said. Mnuchin's comments, first reported by Bloomberg News, come amid a rising sense of urgency at the White House and on Capitol Hill to confront the increasingly serious threat of the coronavirus pandemic -- on both the public health and economic fronts. A 20% unemployment rate would be double the unemployment rate during the Great Recession and the highest in the US since the Great Depression. A 20% unemployment rate would leave more than 32 million Americans out of a job based on the current US labor force. https://www.cnn.com/2020/03/17/politics/steven-mnuchin-unemployment-warning-coronavirus/index.html ************** Great recession 2009 unemployment rate reached 10.2% Great Depression 1933 unemployment rate hit 24.9%
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Investing in the stock market - Discussion
nuckin_futz replied to AV's Coin's topic in Off-Topic General
The stock market is indeed a den for over leveraged degenerate gamblers. The manipulation, front running, organized cabals etc, that goes on is unreal. Never gets addressed while everyone is making a buck. -
Investing in the stock market - Discussion
nuckin_futz replied to AV's Coin's topic in Off-Topic General
That was exposed in 2008. However, it appears nothing was learned. -
I believe it was you who said you push for schools to teach basic financial competence in schools. There is a reason they don't. They don't want people to question the system, They want to breed obedient mules for the purpose of taxation. Watch the bond market and rates very carefully. The Japanese 10yr bond now has a positive yield. The powers that be are playing a very dangerous game. If inflation and increasing rates are the outcome it's game over. When you're trillions in debt you can't be paying 3,5,10% on that debt.
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A buddy of mine in the states said his gf's sister and her husband think this is all a big hoax. Just a conspiracy to limit freedoms. So they went to Vegas for his poker tournament. Then they're posting pics all over Facebook and Instagram of them tearing it up the clubs. Having a great time. Extolling people to live their lives and all this 'yolo' nonsense. Guess what? They are home now and sick as dogs. Guess some people have to learn the hard way. Hope they didn't infect others but it's hard to see how they couldn't have.