March Madness and Covid-19

[stormspencer]

Stock futures down 400 points, due to concerns about Coronavirus. The market volatility continues.. https://www.cnn.com/2020/03/10/investing/dow-futures-decline/index.html

I must be confused because I see the market opened at 24,453 and closed at 25,018.

https://www.npr.org/2020/03/10/814161749/dow-bounces-back-jumping-more-than-1-100-points-after-markets-terrible-day

And I would be cautious of any of the "news networks".....they all have agendas.

 

[steverocks35]

I must be confused because I see the market opened at 24,453 and closed at 25,018.

https://www.npr.org/2020/03/10/814161749/dow-bounces-back-jumping-more-than-1-100-points-after-markets-terrible-day

And I would be cautious of any of the "news networks".....they all have agendas.

Yes you're confused because I'm talking about the futures market... stock futures predict what the market will look like at opening on the following day. These are numbers and don't have an agenda.

 

[steverocks35]

Is Investor's Business Daily acceptable?

https://www.investors.com/market-tr...et-rally-coronavirus-stock-market-correction/

 

[stormspencer]

Is Investor's Business Daily acceptable?

https://www.investors.com/market-tr...et-rally-coronavirus-stock-market-correction/

This is what I got out of that article.

"Dow Jones futures fell 2.15% vs. fair value, but off overnight lows. S&P 500 futures lost 2.2%. Nasdaq 100 futures retreated 2.2%. Today, Dow Jones futures would need to be up 0.57% to be even with fair value.

Dow Jones futures have been volatile during the coronavirus stock market correction."

"Remember that overnight action in Dow futures and elsewhere doesn't necessarily translate into actual trading in the next regular stock market session".

We will see what happens tomorrow.

 

[steverocks35]

This is what I got out of that article.

"Dow Jones futures fell 2.15% vs. fair value, but off overnight lows. S&P 500 futures lost 2.2%. Nasdaq 100 futures retreated 2.2%. Today, Dow Jones futures would need to be up 0.57% to be even with fair value.

Dow Jones futures have been volatile during the coronavirus stock market correction."

"Remember that overnight action in Dow futures and elsewhere doesn't necessarily translate into actual trading in the next regular stock market session".

We will see what happens tomorrow.

Of course we will see what happens, what's your point? My point is that the market volatility continues, and that is clear from the futures. Of course, something could happen in Asia or elsewhere that could make the trend reverse overnight, that's a given, even idiots understand that.

 

[MJSooner]

The biggest drop in the market occurred on the 9th (Monday) when the nonsense between Russia and the Saudis really hit the fan. But yes, the market began a noticeable decline towards the end of last week.
https://www.google.com/search?safe=active&rlz=1C1GCEU_enUS821US821&tbm=fin&sxsrf=ALeKk02qr7x7_8jLtStiuAmZXYNWYx0uXA:1583888457780&q=INDEXDJX:+.DJI&stick=H4sIAAAAAAAAAONgecRozC3w8sc9YSmtSWtOXmNU4eIKzsgvd80rySypFBLjYoOyeKS4uDj0c_UNkgsry3kWsfJ5-rm4Rrh4RVgp6Ll4eQIAqJT5uUkAAAA&biw=1500&bih=858#scso=_5jhoXvb-EcqAtgXcw5PACA1:0

The market is headed back in the right direction (at least for now) as someone else pointed out.....likely because the Administration/Feds are speaking about economic initiatives to offset the missed work, etc.

Enjoy the discussion but have to disagree with your assertion and timeline. I work in the investment industry and have to deal with it daily and, unfortunately, know the market drop was before 3/9 and started because COVID-19

From the high on the S&P 500 at 3386 on 2/20, the market dropped daily to a low of 2865 on 2/28. That’s a 16% drop and a week before the oil price war.

Yes oil was a big factor on Monday’s drop. But so was the virus. Also over the weekend, the US started having a lot of cancelations and more cases and Italy shutdown the country. As sheepdogs said in another post, investors felt of Europe was having these issues, we inevitably will as well.

To say the market drop was due to oil is not exactly factual. Even more presumptive is to say the market is headed back in the right direction based on one up day due to a rumored stimulus package. BTW Europe and Asia are both down tonight as I type and US futures are down 465...based on coronavirus fears.

 

[stormspencer]

Of course we will see what happens, what's your point? My point is that the market volatility continues, and that is clear from the futures. Of course, something could happen in Asia or elsewhere that could make the trend reverse overnight, that's a given, even idiots understand that.

My point is I'm not being an alarmist over something that I can't control. And even if they market has another setback tomorrow, I'm not going to overreact and be a drama queen about it. Even though I don't know the timeline, the market will eventually recover like it always does....but then again I'm just one of the "idiots".

 

[steverocks35]

appreciate the attempted link to a google chart, but I work in the investment industry and have to deal with it daily and know the market drop was before 3/9 and started because COVID-19

From the high on the S&P 500 at 3386 on 2/20, the market dropped daily to a low of 2865 on 2/28. That’s a 16% drop and a week before the oil price war.

Yes oil was a big factor on Monday’s drop. But so was the virus. Also over the weekend, the US started having a lot of cancelations and more cases and Italy shutdown the country. As sheepdogs said in another post, investors felt of Europe was having these issues, we inevitably will as well.

To say the market drop was due to oil is not exactly factual. Even more presumptive is to say the market is headed back in the right direction based on one up day due to a rumored stimulus package. BTW

Yep, and that was my point by linking to the futures. To show that just because we got a small fraction of the losses back today, doesn't mean the stock market is back in bull territory.

 

[steverocks35]

My point is I'm not being an alarmist over something that I can't control. And even if they market has another setback tomorrow, I'm not going to overreact and be a drama queen about it. Even though I don't know the timeline, the market will eventually recover like it always does....but then again I'm just one of the "idiots".

I didn't call you an idiot, but you misunderstood my message and then you tried to backtrack and attack my post after I explained it to you, and I'm not being a drama queen, just making some points based on facts.

 

[MJSooner]

Yep, and that was my point by linking to the futures. To show that just because we got a small fraction of the losses back today, doesn't mean the stock market is back in bull territory.

Yep, not anywhere close to one. Still haven’t yet seen the full impact immediately, and still have seen the impact on earnings and economic reports.

 

[stormspencer]

Enjoy the discussion but have to disagree with your assertion and timeline. I work in the investment industry and have to deal with it daily and, unfortunately, know the market drop was before 3/9 and started because COVID-19

From the high on the S&P 500 at 3386 on 2/20, the market dropped daily to a low of 2865 on 2/28. That’s a 16% drop and a week before the oil price war.

Yes oil was a big factor on Monday’s drop. But so was the virus. Also over the weekend, the US started having a lot of cancelations and more cases and Italy shutdown the country. As sheepdogs said in another post, investors felt of Europe was having these issues, we inevitably will as well.

To say the market drop was due to oil is not exactly factual. Even more presumptive is to say the market is headed back in the right direction based on one up day due to a rumored stimulus package. BTW

I agree with you the market initially began dropping because COVID-19....I went back and looked at a 2-week graph. I worded my original statement incorrectly. I should've stated the hysteria seemed to reach its pinnacle yesterday morning which coincided with the Saudi/Russia conflict. There are obviously several variables involved.

Since you're more involved in the investment industry, maybe you can clarify how "speculation" drives the market up and down.....and to what degree.

 

[Jeopardude]

Was the statement about perception and alleviating fears or do you believe he thought that was the reality of the situation. There should be a difference between the two for one is calming while the other is alarming.

If he thought that was the reality after being briefed by doctors and scientists, the 25th amendment needs to be invoked. That would mean he has no capability of rational thought.

If he was lying and providing false comfort he should be thrown in the Potomac and shamed for generations.

 

[sheepdogs1]

Yep, not anywhere close to one. Still haven’t yet seen the full impact immediately, and still have seen the impact on earnings and economic reports.

I'm compelled to feel the market is absorbing the worst possible scenario and will trade higher as the net results are actually seen.

 

[sheepdogs1]

If he thought that was the reality after being briefed by doctors and scientists, the 25th amendment needs to be invoked. That would mean he has no capability of rational thought.

If he was lying and providing false comfort he should be thrown in the Potomac and shamed for generations.

You don't know what his interpretations are, for one. Fact.

Secondly, comfort is often not realistic in vision. I mean you don't tell someone who is dying that they are in deep ****. When rescue personnel arrive at a scene they likely don't tell people they "don't have a chance in hell so why are you wasting our time."

 

[MJSooner]

I'm compelled to feel the market is absorbing the worst possible scenario and will trade higher as the net results are actually seen.

You could be right. The markets always hates the unknown. All depends on earnings and guidance.

 

[BCSooners]

You don't know what his interpretations are, for one. Fact.

Secondly, comfort is often not realistic in vision. I mean you don't tell someone who is dying that they are in deep ****. When rescue personnel arrive at a scene they likely don't tell people they "don't have a chance in hell so why are you wasting our time."

Telling people to take this seriously is different than saying “you’re going to die”.

 

[MJSooner]

Since you're more involved in the investment industry, maybe you can clarify how "speculation" drives the market up and down.....and to what degree.

I don’t believe “speculation” plays a big factor in the market.

Investing in the market is based on educated fact based assumptions. If you’re a fundamental investor it’s based on data such as earnings or economic reports. If you’re a technical investor it’s based on historical trends. The reality is the majority of investors that move the market up or down is a combination of the two. Most investors, especially those that can drive stock movements, will not risk capital just based on speculation.

Of course there are those that speculate, day trade, or buy and sell on hunches, rumors, or total guesses. Certain sectors, such as commodities, might have more than others. But regulators have made that difficult and it is a small portion of the investment community and price movements.

 

[stormspencer]

I didn't call you an idiot, but you misunderstood my message and then you tried to backtrack and attack my post after I explained it to you, and I'm not being a drama queen, just making some points based on facts.

I should've put a on that because I was actually taking a jab at myself (idiot). That's what happens when you type and aren't talking face to face. And I wasn't insinuating that you were a drama queen....sorry if it came off that way. But I do see plenty of gnashing of teeth when I turn on the tube....I'm just not going to participate in it.

 

[sheepdogs1]

Telling people to take this seriously is different than saying “you’re going to die”.

He did not in any way shape or form tell or advise people to not take it seriously. He tried to tell citizens not to panic and that the powers that be would attempt to control the seriousness of something which could not completely be controlled.

 

[steverocks35]

He did not in any way shape or form tell or advise people to not take it seriously. He tried to tell citizens not to panic and that the powers that be would attempt to control the seriousness of something which could not completely be controlled.

Come on. You’re just making excuses for him now. He stood there and said it would be over in a couple of days. It was a completely irresponsible statement while so many are dying or in danger of contracting this.