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Everything posted by nuckin_futz
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UK virus cases 798 vs 590 yesterday Fri 13 Mar 2020 14:04:22 GMT UK cases rise The more I think about it, the more the UK looks like it's in a structurally brutal position for this. The tube is an engineering marvel but it's also a virus nightmare and the economy can't operate without it. In addition, the economy is entirely service-sector reliant and hugely leveraged towards finance, which is always hammered in an economic crisis. A secondary industry is tourism, which is going to get mangled. The response from the BOE and Treasury was first rate and that should help to cushion the blow for consumers and banks but there's only so much you can do. Spain coronavirus cases rise to 4,209 from 3,004 Fri 13 Mar 2020 12:48:58 GMT More than 1200 new cases Deaths in Spain rise to 120 from 84. The numbers in Spain have hit like a hurricane. The Spanish government is considering declaring a state of emergency according to El Pais.
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Brazilian President tests positive for coronavirus Fri 13 Mar 2020 14:20:53 GMT Bolsonaro tests positive The Brazilian President dined with Trump on Saturday and now has the virus. He's the first world leaders to officially get it, although Xi was curiously absent for a couple weeks. Justin Trudeau from Canada is also in a self-imposed quarantine after his wife got it.
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Regarding Japan and the upcoming Olympics........... Japan parliament approves bill to allow Abe to declare state of emergency, if needed Fri 13 Mar 2020 07:40:02 GMT The parliament approves the bill, giving Abe power to declare a state of emergency due to the coronavirus outbreak, if needed With the Olympics on the line, I would not be the least bit surprised if Abe resorts to this and shuts down the country over the next few weeks/months potentially.
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No, there's a few of us.
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Investing in the stock market - Discussion
nuckin_futz replied to AV's Coin's topic in Off-Topic General
Almost all retail investors invest in a cash account vs a margin account. That is if you have $1000 to invest you can only invest $1000. A margin account lets you borrow money to invest with. Professionals (those who know what they're doing and also those who do not) mainly use margin. Sometimes lots of margin. like x3, x5, x10, x30. When the market moves 1%. A retail guy's account moves 1%. If you're using margin and the market moves 1% your gains are magnified x3 = 3%, x10 = 10% and so on. Now you can see how quickly you can get wealthy and conversely how quickly you can make a mess and blow up. When the market does nothing but go up all the damn time people get lazy. And the unwinding of levered positions can get very messy. This is what we have seen. Over levered people blowing up right and left. The selling feeds on itself. My guess is someone huge blew up to the extent that unwinding their positions created such market stress that liquidity became an issue. Just like in 1998 when Long Term Capital blew up (provided a link to that story a page back) and the Fed and several major banks had to step in to provide liquidity. When the Fed announced their repo operation and what is basically QE the market rallied huge today then gave it all up and even closed at it's low. IMO that's because the market knew someone was in trouble and wasn't about to pay up for their assets. The market wanted them on the cheap. That's why the "market on close" orders were all huge sells. The market puts the boots to the entity in trouble. It looks to me that that problem is out of the way and I believe we can rally from here. Unless of course there are more similar issues lurking around. As for the poor performance of gold. If it were as easy as market down = gold up any schmuck could make a living in markets. When you're blowing up and getting margin calls you sell anything you can to create cash to meet the margin calls. Gold makes for an excellent source of funds in that case. -
Investing in the stock market - Discussion
nuckin_futz replied to AV's Coin's topic in Off-Topic General
The Federal Reserve and the Bank Of Canada is coming to the rescue. It appears the market ran into a situation of insufficient liquidity. The banking authorities will step in and provide that liquidity. I have no idea of your experience level. My advice would be to consult an investment professional. Hopefully one who knows what they are doing. That would usually be someone with a few grey hairs. -
Sofie Trudeau has tested positive for Covid-19
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Investing in the stock market - Discussion
nuckin_futz replied to AV's Coin's topic in Off-Topic General
That's the best kind. "Let me tell you how it will be There's one for you, nineteen for me" -
US airstrikes underway against Iran-backed militias Thu 12 Mar 2020 22:32:40 GMT Yesterday Iranian backed militias attacked a base in Iraq, killing service members from the UKI and US. ********************** This is not helping the situation
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Breaking - US Federal government coronavirus relief package has been delayed Thu 12 Mar 2020 22:17:50 GMT While the US House of Representatives is expected to pass a coronavirus relief bill Thursday evening US time the Senate will not the Senate just closed up for the week despite the work being done on the bill Which Means that final action on any bill will be delayed until next week ******************************** Can always count on these squabbling idiots to muck everything up.
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You may be right but she is standing right beside the Governor of the state. So maybe they have a good reason to warn people. Then again maybe they are fools. Time will tell.
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Ohio health official estimates 100,000 people in state have coronavirus Thu 12 Mar 2020 21:45:13 GMT Ohio Department of Health Director Amy Acton press conference (held with Gov. Mike DeWine) given that the virus is spreading in the community in Ohio, she estimates at least 1 percent of the population in the state has the virus "We know now, just the fact of community spread, says that at least 1 percent, at the very least, 1 percent of our population is carrying this virus in Ohio today," "We have 11.7 million people. So the math is over 100,000. So that just gives you a sense of how this virus spreads and is spreading quickly." Adds that the slow rollout of testing means the state does not have good verified numbers to know for sure.
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It would be nice if we could stop arguing about this video.
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March Madness is cancelled Thu 12 Mar 2020 20:30:40 GMT The shoe has dropped... The March Madness college basketball tournament has been cancelled. A huge event for fans, gamblers and advertisers, it will be missed.
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Investing in the stock market - Discussion
nuckin_futz replied to AV's Coin's topic in Off-Topic General
Bank of Canada announces term repo operations Thu 12 Mar 2020 20:25:10 GMT Similar moves to the Fed Announces expansion of bond buyback programs Announces expansion of term repo operations Measures aimed at supporting functioning of markets Buybacks will be conducted weekly Will add 6-month and 12-month repos Operations will occur bi-weekly starting March 17 This is similar to what the Fed announced today, only it's for 6-12 months rather than 3 months. The declines in Canadian banks over the past week have been extremely worrisome. ********************** Bank Of Canada announcing major repo operations. Putting in a backstop. Cough Cough Socialism Cough -
Investing in the stock market - Discussion
nuckin_futz replied to AV's Coin's topic in Off-Topic General
Dow crashed 10% in one day, 4th worst loss in history. Canada down 12%, worst since 1940 -
Investing in the stock market - Discussion
nuckin_futz replied to AV's Coin's topic in Off-Topic General
If anyone is interested in a little lite reading on what can happen when a major market participant blows up. Like what appears to be happening now this is a good refresher..... https://en.wikipedia.org/wiki/Long-Term_Capital_Management -
German coronavirus cases jump to 2369 from 1567 yesterday Thu 12 Mar 2020 18:46:21 GMT Big jump in coronavirus cases in Germany Germany is reporting a big jump in the number of coronavirus cases. The total number of cases has moved to 2369 from 1567 yesterday. That's a 51% increase from yesterday. New York reports hundred 112 new cases to a total of 328 Thu 12 Mar 2020 18:26:46 GMT Gov. Cuomo speaking New York Gov. Cuomo announced that New York would ban gatherings of 500 or more which close down the theater industry. Rome's Catholic churches ordered closed because of coronavirus Thu 12 Mar 2020 19:03:58 GMT Move believed unprecedented in modern times. The coronavirus headlines continue. In what may be the start of a trend, Rome's Catholic churches are ordered close because of the coronavirus. A decree by Pope's Vicar for Rome dispenses Catholics from obligation of attending Sunday mass. I would expect that attendance at place of worship will start to see the impact from the coronavirus with or without dispensation. France closes all education establishments Thu 12 Mar 2020 19:10:26 GMT Schools and universities to close Closing schools is extremely effective in a pandemic. Not just because kids are disease vectors, but because it reduces crowds and forces many parents to stay home as well. *********************** The headlines are just unrelenting.
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Yeah. Much like the virus. Financial contagion goes global too. Take a look at what the European indexes did today.
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White House says no need for Trump and Pence to be tested for coronavirus Thu 12 Mar 2020 17:47:49 GMT The White House is aware of reports a Bolsonaro aide tested positive for COVID-19, although the "confirmatory testing is pending," Stephanie Grisham says. Trump and VP "had almost no interactions" with him "and do not require being tested at this time."
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Rumors are a very large market player (bank) is in trouble and has some very large positions to barf up. I suspect the close will be ugly as the buyers demand a bargain.
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Investing in the stock market - Discussion
nuckin_futz replied to AV's Coin's topic in Off-Topic General
Top right hand corner. You can select which country. -
Investing in the stock market - Discussion
nuckin_futz replied to AV's Coin's topic in Off-Topic General
Hip I'm a short term trader. My mentality is short term. I find short term traders make poor investors and investors make poor traders. Long term I like real estate. Look for industries that have been unfairly beaten up in all this. I am reminded of the HMO's when the market was scared Obamacare was going to put them out of business. Things like Cigna ticker CI went from $55 to below $10. A few weeks ago before this mess it was $255. Airlines are not going to go out of business. I'd maybe look there. Especially with jet fuel prices taking a nose dive. If you want to search stocks paying good dividends I suggest this free stock screener. With it you can search for just about anything. https://finviz.com/screener.ashx -
I need one of those cones they put around a dog's head when at the vet.