I am just curious. You are purchasing these then, the ES MAR 20 '20 or did you buy a longer expiry? Why not trade the S&P futures or futures options? screenshot taken at 1:03:00 AM EST
Another 8 pages to read... I'll open new tabs and reply in one post here. A minute later..... It is the #1 thread on the ww-intrawebs.... Did it work out? I guess I'll see. 2690 to be exact..... like I said 3 months ago. So why didn't you point out 2700 when we were at 3350ish.... (?) Whatever. Anyway, hows the swing shaping up for this summer? Breaking 80 is easier said than done isn't it lol? Concentrate on the short game B1. 175 in. Don't mess up your back on the driving range. If I've told you once.... being accurate with a six iron (and above)... and being a good putter.... is far more deadly than a long drive. Ahhhh.... you never listen. Just take care of your back. Did my color fonts die on me? Just get the B&W ones. Standing by for the "alert alert alert." That's my guess. Up 100 points?! OMG! This one gets a like because.... ..... ...... it just does. Go figure. It did work out though.. I'm sure the next page will have a bingo bango bongo post. (I'm on page 1469) A "like" for good manners. An ET original. Yep Quit picking on Rigshaw. Trump is wearing off on you. Bully. Hmmm.... a serious post. Maybe., you might be right. As if he cares. ________________________________________ Ok. I'm done. No opinion at the moment.... Although my 2690 call should be archived. Not!
The ASX is now in a bear market after falling below 5730 points today. A bear market is defined as a 20 per cent decline in the market.
Yes, it's the way of the market to overreact, but are you watching news outside of the US? I also shrugged my shoulders to CV when the news first started circulating and we only heard of China, but it has since spread worlwide with serious consequences. Italy is literally shut down at the moment and the capacity at their hospitals is already maxed out. Even in my native home country in Northern Europe we are seeing a huge amount of public events being cancelled - even things that have been arranged for 100 years straight. Most, if not all business trips are being cancelled. Many companies now have their employees on home-office only. Airlines have massive lay-offs and one of the airlines here in Norway may very well go bankrupt. I was just on holiday outside my country and lived in a nearly empty hotel because of all the cancellations. To say it's a non-event is simply inaccurate. And it can get a lot worse than this still.
Similar sentiments here. My first reaction was to disregard CV, but then I began to notice that sectors of the market began imploding left and right. The bigger problem is that this struck just following a monumental blow off move with tons of equities severely extended and now you have the energy sector on life support (not to mention how the moves in bonds, equities, energies are margin call-ing tons of accounts). It sort of reminds me of when people say "if the market dropped 30-40-50% (pick your number), I'd mortgage everything to buy it", but not realizing that when it hits those levels, you're dealing with debt defaults, margin calls, recessionary forces that limit the amount of buying force behind you.
Unfortunately this has occurred in an election year in the US when the commander in chief looks at every thing as a personal affront and both sides are willing to politicize and weaponize ad nauseum. Also, Fed repo activity since September has pointed to a potential solvency problem in the banking system. CV-19 is the proverbial $hit hitting the fan. Nasem Taleb said a few days ago that the solution is scientifically easy but politically impossible until necessary: The whole country needs to limit our contact with one another for 20 days. Sounds like Italy and Chine came to that realization and had the wherewithal to do it. Doubtful such an order comes about here anytime soon, especially with March Madness right around the corner.