DOW 23,000+ today?

[Fat Boss]

I went and filled the F250 with diesel and stopped by Wells Fargo on the way home. The local branch was temporarily out of 100s. Had to settle for 50s. The run on the banks has begun.

 

[Tonymustang302]

I went and filled the F250 with diesel and stopped by Wells Fargo on the way home. The local branch was temporarily out of 100s. Had to settle for 50s. The run on the banks has begun.

Thats why i have a bunch of gold and silver investments in a safe, safe place lol

 

[TMSBOSS]

Run on the banks......cant happen. Millennials have no idea what cash is.

 

[Grant 302]

Run on the banks......cant happen. Millennials have no idea what cash is.

That's okay. They (as a group) don't have much to withdraw anyway.

 

[Grant 302]

“Every decade or so, dark clouds will fill the economic skies, and they will briefly rain gold,” Mr. Buffett wrote in his 2016 annual letter. “When downpours of that sort occur, it’s imperative that we rush outdoors carrying washtubs, not teaspoons. And that we will do.”

Food for thought...

 

[Tonymustang302]

“Every decade or so, dark clouds will fill the economic skies, and they will briefly rain gold,” Mr. Buffett wrote in his 2016 annual letter. “When downpours of that sort occur, it’s imperative that we rush outdoors carrying washtubs, not teaspoons. And that we will do.”

Food for thought...

so buy up when itsdown?

 

[Fat Boss]

Dow futures are looking bad for Monday morning. I'm sticking with my guess of 15k for the bottom.

 

[Grant 302]

Dow futures are looking bad for Monday morning. I'm sticking with my guess of 15k for the bottom.

Looks pretty stable considering last week...unless you're seeing something that I'm not. Not lower than last week's or Friday's lows.

 

[Grant 302]

so buy up when itsdown?

Not quite how I'd summarize that.

 

[Fat Boss]

Looks pretty stable considering last week...unless you're seeing something that I'm not. Not lower than last week's or Friday's lows.

I just see the images from Italy where gigantic freeways have zero cars on them. Recessions happen when people are still going about their business. Business is grinding to a halt all across the world. The numbers are going to get much, much worse in terms of infected people.

 

[VoodooBoss]

Looks like the buying opportunity is getting better and better.

 

[Fat Boss]

I guess I'll rely upon my time tested method of calling a bottom. When truly bad or terrible news fails to drive a stock lower, that's the bottom.

 

[Grant 302]

19,822.26 hit early in today’s session.

Right now ~19k wouldn't surprise me.

Still not ready to call a bottom, but I am spending most of this week managing tax liability and starting to perform loss harvesting where I can. It’s a little complicated with positions that I still want to maintain the upside potential and avoid issues with wash-sale rule limitations. A bit of a hassle, as I’m usually preparing to do this at the end of the year and handle it differently.

 

[TymeSlayer]

What are you feelings about them just shutting it all down for a week or two rather than subjecting us investors to this panic inducing roller coaster ride? I'm fine for now but what are the ramifications of closing the market to let it settle down?

 

[Grant 302]

What are you feelings about them just shutting it all down for a week or two rather than subjecting us investors to this panic inducing roller coaster ride? I'm fine for now but what are the ramifications of closing the market to let it settle down?

I think it’s healthier to leave it open. Just opinion though. After any long close like that would suffer at the re-opening. And it would be violent. I’d take the slide as it’s happening over that scenario.

 

[TMSBOSS]

Not sure I agree with keeping the markets open.

The Virus is affecting us in two ways, medically and through Panic. We lost more people in the twin towers than what this virus has taken. Why all the problems?? Panic seems to be that answer. I am all about reducing the panic.

Now, how do we get Washington on the phone??

 

[Tonymustang302]

Not sure I agree with keeping the markets open.

The Virus is affecting us in two ways, medically and through Panic. We lost more people in the twin towers than what this virus has taken. Why all the problems?? Panic seems to be that answer. I am all about reducing the panic.

Now, how do we get Washington on the phone??

this was the same way in 2008 when people were buying up ammo like crazy and you could trade an ar-15 for a motorhome.

my biggest client is a 180 location grocery chain, theyre hiring a lot of temp work right now. My business is busy as hell. We’re actually refusing work for restaurants that wont give us a credit card or CoD...how long will it last????? I dunno....im prob jinxing myself.

 

[Ludachris]

Not sure I agree with keeping the markets open.

The Virus is affecting us in two ways, medically and through Panic. We lost more people in the twin towers than what this virus has taken. Why all the problems?? Panic seems to be that answer. I am all about reducing the panic.

Now, how do we get Washington on the phone??

From what I'm reading from health authorities and friends/family in the healthcare industry, the fear is not so much the 'current' fatality rate for the virus, it's the strain that has been put on hospitals and medical resources for those with moderate to severe symptoms - as well as what they don't yet know about the virus.

Some people are taking more precautions, others are acting no differently than they normally would. Some are panicking and hoarding. I'm just hopeful we have enough people taking precautions that we limit the spread enough to the point where everyone wonders what the big deal was in 3 months.

 

[Tonymustang302]

From what I'm reading from health authorities and friends/family in the healthcare industry, the fear is not so much the 'current' fatality rate for the virus, it's the strain that has been put on hospitals and medical resources for those with moderate to severe symptoms - as well as what they don't yet know about the virus.

Some people are taking more precautions, others are acting no differently than they normally would. Some are panicking and hoarding. I'm just hopeful we have enough people taking precautions that we limit the spread enough to the point where everyone wonders what the big deal was in 3 months.

i have a feeling we all have it in some way now and in a couple months we’ll all be over it.

one of my employee’s dads works for union pacific and was sent a letter asking for volunteers to work in case of marshall law.....thats kind of spooky

 

[Ludachris]

this was the same way in 2008 when people were buying up ammo like crazy and you could trade an ar-15 for a motorhome.

I was thinking about all the hysteria back then too.