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Anyone buying stock this week ?


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I think what Reddit is doing to wall street is awesome.

My grandmother bought me a savings bond when I was kid so I pocketed $25 in 1993.  That was good.

I can't think of a single reason to buy this week. We're nowhere near knowing where the floor is here. 

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47 minutes ago, RobR said:

Take it for what it's worth but my close friends SIL works for the CDC and he was talking about Martial Law type enforcements coming on Sunday at midnight. Not sure even I believe it but wouldn't be surprised.   

City and state governments have made STRONG recommendations and issued guidance for the public including safe distancing, having employees work from home, transitioning restaurants to Take Out only, etc.  In cases where people are following that guidance the governments haven't had to begin enforcement or issue curfews.  It places where the public is not complying with recommendations....they will be forced to.  Pennsylvania is going there shortly.  People simply aren't heeding the warnings or following directions....so now they must be forced.

In the 60's and 70's we were strapping guns to the backs of 18 year olds and sending them to southesast Asia for fight wars for years on end.  Today, we're asking people to stay home, watch Netflix, and order food in.....and they can't fvcking seem to do it.  (see Florida)  The sacrifice isn't hard for most of us.  For some they may need a gun in their face to stay off the beach our away from a bar.

 

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45 minutes ago, jetstream23 said:

City and state governments have made STRONG recommendations and issued guidance for the public including safe distancing, having employees work from home, transitioning restaurants to Take Out only, etc.  In cases where people are following that guidance the governments haven't had to begin enforcement or issue curfews.  It places where the public is not complying with recommendations....they will be forced to.  Pennsylvania is going there shortly.  People simply aren't heeding the warnings or following directions....so now they must be forced.

In the 60's and 70's we were strapping guns to the backs of 18 year olds and sending them to southesast Asia for fight wars for years on end.  Today, we're asking people to stay home, watch Netflix, and order food in.....and they can't fvcking seem to do it.  (see Florida)  The sacrifice isn't hard for most of us.  For some they may need a gun in their face to stay off the beach our away from a bar.

 

All I'm saying is that these might not be recommendations come Sunday night for the entire US. Again it's a rumor and I'm certainly not a fear monger, but even @CTM is hearing these rumors. 

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1 hour ago, RobR said:

Take it for what it's worth but my close friends SIL works for the CDC and he was talking about Martial Law type enforcements coming on Sunday at midnight. Not sure even I believe it but wouldn't be surprised.   

We were warned of the same at our regional emergency management meeting earlier in the week.  We were told to get where we need to be as that might not be possible next week.  

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2 hours ago, RobR said:

Take it for what it's worth but my close friends SIL works for the CDC and he was talking about Martial Law type enforcements coming on Sunday at midnight. Not sure even I believe it but wouldn't be surprised.   

I believe this, I heard this from a couple of ppl in enforcement. We’re about to see the Stafford Act excuted any day now. 

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4 minutes ago, GATA said:

I believe this, I heard this from a couple of ppl in enforcement. We’re about to see the Stafford Act excuted any day now. 

lots of chatter about this stuff for sure. All of it ambiguous enough that I'd usually ignore,  but coming from so many directions right now it's hard to dismiss. 

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8 minutes ago, GATA said:

I believe this, I heard this from a couple of ppl in enforcement. We’re about to see the Stafford Act excuted any day now. 

I think we end up taking measures that go beyond the scope of the Stafford Act.

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Just now, RobR said:

I think we end up taking measures that go beyond the scope of the Stafford Act.

Govt is on the verge of bailing out most citizens and private industries, the entire system is failing. Hard to imagine much of anything is off the table.

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13 hours ago, RobR said:

Take it for what it's worth but my close friends SIL works for the CDC and he was talking about Martial Law type enforcements coming on Sunday at midnight. Not sure even I believe it but wouldn't be surprised.   

13 hours ago, CTM said:

Heard similiar 

12 hours ago, RobR said:

Yes, and again take this with a grain of salt because it's just a rumor I heard, although it's from someone I would consider a reliable source. We'll see how the market responds tomorrow.

My own SIL's close friend works for the pentagon and told her to stock up this weekend. She then passed the message to us yesterday. No word of martial law, but wouldn't be surprised if that's why. 

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2 hours ago, greenwichjetfan said:

My own SIL's close friend works for the pentagon and told her to stock up this weekend. She then passed the message to us yesterday. No word of martial law, but wouldn't be surprised if that's why. 

Just heard the same thing from a friend of a friend in the pentagon. 

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Some financial firms starting to buckle under the stress.  Not a good sign.

https://www.cnbc.com/2020/03/20/clearing-firm-ronin-capital-unable-to-meet-capital-requirements-at-cme-sources.html

Quote

Clearing firm Ronin Capital unable to meet capital requirements at CME: Sources

PUBLISHED FRI, MAR 20 20203:00 PM EDTUPDATED 8 MIN AGO

 

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4 hours ago, Jet_Engine1 said:

No word yet of anything like that yet, our FD is a TF for FEMA and would be activated by any Stafford Act mobilization. 

You're going to hear it soon. 

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4 hours ago, jetstream23 said:

I was buying a little on the close today.  Not a lot....but being 10+ years from retirement it felt like the right time to buy some AMZN, JPM, and GOOGL at discounted prices.

 

You're a brave man buying at this time. I'm going to be putting together my big board so to speak of what I'll be pouncing on soon. I ended up taking a larger cash position than I thought and I'll be looking for bargains after the news comes out. I'll also be looking at some out of the money calls with a 2-3 month horizon.

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14 hours ago, jetstream23 said:

I was buying a little on the close today.  Not a lot....but being 10+ years from retirement it felt like the right time to buy some AMZN, JPM, and GOOGL at discounted prices.

 

Smart move. You will be rewarded. I grabbed some DAL UAL and AAL.

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1 hour ago, Kleckineau said:

Smart move. You will be rewarded. I grabbed some DAL UAL and AAL.

I grabbed DAL, Buffet owns 11%  and just bought 1M at like 42-44, I'm in a $22. Bailout or Buffet news could send this soaring, of course all planes being grounded could do the opposite 

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20 minutes ago, CTM said:

I grabbed DAL, Buffet owns 11%  and just bought 1M at like 42-44, I'm in a $22. Bailout or Buffet news could send this soaring, of course all planes being grounded could do the opposite 

Agree they airline stocks could still go lower but even so 18 - 24 mos out maybe even less they should shine.

I am hoping UAL will be a 4 bagger for me.

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11 minutes ago, RobR said:

Just saw it. I'm around 95% in cash right now so I should sleep OK tonight but no short positions open. 

It's because of Pelosi saying she's has issues with Senate bill and is introducing "our" bill. I really hope these scumbags arent fighting over sticking unrelated pet projects in there.

edit: the senate bill failed

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1 minute ago, CTM said:

It's because of Pelosi saying she's has issues with Senate bill and is introducing "our" bill. I really hope these scumbags arent fighting over sticking unrelated pet projects in there.

For someone as informed as yourself you should know this is the case, which is disgraceful during these times. Maybe she's throwing  in some wording for Planned Parenthood funding.

I also thinks it goes much deeper than this which I've been saying all along. This is not a typical market downturn that we are dealing with so it's impossible too compare it to other market gyrations which many are doing. 

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Anyone still buying? I tried to nibble a bit today on the airlines but my orders didn't go through, which might be a blessing in disguise.

I still think we drop 10-20% from current levels even with a stimulus bill in place which will only prop the market up short term. 

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1 hour ago, RobR said:

Anyone still buying? I tried to nibble a bit today on the airlines but my orders didn't go through, which might be a blessing in disguise.

I still think we drop 10-20% from current levels even with a stimulus bill in place which will only prop the market up short term. 

Last I looked airlines had a nice after market bump . I sold earlier in the day for like 3% profit, which I did 2 x on Friday as well buying on dips. 

And then was quickly flagged for a free ride violation and my account went restricted unless I put a boatload more money in

Apparently you cant day trade on cash accounts anymore? Been awhile .

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1 hour ago, RobR said:

Anyone still buying? I tried to nibble a bit today on the airlines but my orders didn't go through, which might be a blessing in disguise.

I still think we drop 10-20% from current levels even with a stimulus bill in place which will only prop the market up short term. 

We may be at 20 percent unemployment in 30 days...  we have never seen that in our lifetime. I agree, the downside can be bad.  Cash is King but when this turns around, it will turn around quick.  No one can predict bottom or when it will turn.  Agreed on prop up. Like a $1,000 a family makes a difference. 

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36 minutes ago, CTM said:

Last I looked airlines had a nice after market bump . I sold earlier in the day for like 3% profit, which I did 2 x on Friday as well buying on dips. 

And then was quickly flagged for a free ride violation and my account went restricted unless I put a boatload more money in

Apparently you cant day trade on cash accounts anymore? Been awhile .

Why can't you trade on a cash account? I'm assuming you're margin enabled. I've had zero restrictions on my account.

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22 minutes ago, southparkcpa said:

We may be at 20 percent unemployment in 30 days...  we have never seen that in our lifetime. I agree, the downside can be bad.  Cash is King but when this turns around, it will turn around quick.  No one can predict bottom or when it will turn.  Agreed on prop up. Like a $1,000 a family makes a difference. 

If you asked me a week ago I would say a V curve was most likely, now a U curve sounds palatable. The ripple effects of this event, even if it is a minor pandemic will be felt for years. This market already needed a correction of about 15% but with what is happening now it should be closer to 50% and we're not there yet. 

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37 minutes ago, southparkcpa said:

We may be at 20 percent unemployment in 30 days...  we have never seen that in our lifetime. I agree, the downside can be bad.  Cash is King but when this turns around, it will turn around quick.  No one can predict bottom or when it will turn.  Agreed on prop up. Like a $1,000 a family makes a difference. 

Get ready for the upcoming crimewave 

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16 minutes ago, RobR said:

Why can't you trade on a cash account? I'm assuming you're margin enabled. I've had zero restrictions on my account.

Not margin enabled, that was the issue. I didnt realize I needed to pay interest on $$ that were bought and sold but not settled

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