U.S. stocks continue to soar!

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Doom&Gloom
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Re: U.S. stocks continue to soar!

Post by Doom&Gloom »

TheTimeLord wrote: Fri Mar 13, 2020 10:38 pm
peskypesky wrote: Fri Mar 13, 2020 10:34 pm
CoastalWinds wrote: Fri Mar 13, 2020 10:27 pm
peskypesky wrote: Fri Mar 13, 2020 10:20 pm
Lee_WSP wrote: Fri Mar 13, 2020 10:17 pm

I’ve delayed all unnecessary purchases. :?
Me too. Reigning in spending.
Same.

And multiply this by many people ... our economy is in big trouble.
Someone on this forum recommended this podcast by Erik Townsend. He's a software entrepreneur/hedge-fund manager/market analyst.
https://www.listennotes.com/podcasts/ma ... SBTpJVsN1/

I'm listening now and what he has to say is EXTREMELY sobering...
Who is someone and when did BH start listening to hedge fund managers? A month ago no one knew nothing. I guess they get smarter when the market drops 20+%.
Fear sells, don'tcha know?

Disclaimer: I have no idea what will happen; I have neither bought nor sold stocks or bonds during the past three weeks.
CoastalWinds
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Re: U.S. stocks continue to soar!

Post by CoastalWinds »

TheTimeLord wrote: Fri Mar 13, 2020 10:36 pm
CoastalWinds wrote: Fri Mar 13, 2020 10:27 pm
peskypesky wrote: Fri Mar 13, 2020 10:20 pm
Lee_WSP wrote: Fri Mar 13, 2020 10:17 pm
Grogs wrote: Fri Mar 13, 2020 8:29 pm

Maybe, but with increased job insecurity spending will go down overall. Those who have jobs will save more in the event they lose them. Those who get pink slips or unpaid leave just won't have the money at all.
I’ve delayed all unnecessary purchases. :?
Me too. Reigning in spending.
Same.

And multiply this by many people ... our economy is in big trouble.
Why would BH with jobs and an emergency fund be reigning in their spending, instead of taking advantage of bargains and sales? I am not understanding the logic, isn't the reason you saved to be able to maintain through rough patches?
Exactly. Reigning in spending to buy more stock. But buying stock doesn’t exactly stimulate our consumer-based economy.
peskypesky
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Re: U.S. stocks continue to soar!

Post by peskypesky »

TheTimeLord wrote: Fri Mar 13, 2020 10:38 pm Who is someone and when did BH start listening to hedge fund managers? A month ago no one knew nothing. I guess they get smarter when the market drops 20+%.
It's the best take on the coronavirus epidemic that I've yet heard.
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Bluce
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Re: U.S. stocks continue to soar!

Post by Bluce »

TheTimeLord wrote: Fri Mar 13, 2020 10:38 pm
peskypesky wrote: Fri Mar 13, 2020 10:34 pm
CoastalWinds wrote: Fri Mar 13, 2020 10:27 pm
peskypesky wrote: Fri Mar 13, 2020 10:20 pm
Lee_WSP wrote: Fri Mar 13, 2020 10:17 pm

I’ve delayed all unnecessary purchases. :?
Me too. Reigning in spending.
Same.

And multiply this by many people ... our economy is in big trouble.
Someone on this forum recommended this podcast by Erik Townsend. He's a software entrepreneur/hedge-fund manager/market analyst.
https://www.listennotes.com/podcasts/ma ... SBTpJVsN1/

I'm listening now and what he has to say is EXTREMELY sobering...
Who is someone and when did BH start listening to hedge fund managers? A month ago no one knew nothing. I guess they get smarter when the market drops 20+%.
LOL, one can always find numerous "experts" who will confirm their existing biases.

There are probably as many perma-bears out there as there are perma-bulls.

Although I'm a born pessimist, I think this stuff is quite overblown. But we shall see.
"There are no new ideas, only forgotten ones." -- Amity Shlaes
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Re: U.S. stocks continue to soar!

Post by abuss368 »

Stinky wrote: Fri Mar 13, 2020 9:42 pm
abuss368 wrote: Fri Mar 13, 2020 4:13 pm Wooo hoo back up the track!
So you’ve upgraded from backing up the truck to backing up the track? :D
Tractor! Darn spell check.
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TheTimeLord
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Re: U.S. stocks continue to soar!

Post by TheTimeLord »

CoastalWinds wrote: Fri Mar 13, 2020 10:49 pm
TheTimeLord wrote: Fri Mar 13, 2020 10:36 pm
CoastalWinds wrote: Fri Mar 13, 2020 10:27 pm
peskypesky wrote: Fri Mar 13, 2020 10:20 pm
Lee_WSP wrote: Fri Mar 13, 2020 10:17 pm

I’ve delayed all unnecessary purchases. :?
Me too. Reigning in spending.
Same.

And multiply this by many people ... our economy is in big trouble.
Why would BH with jobs and an emergency fund be reigning in their spending, instead of taking advantage of bargains and sales? I am not understanding the logic, isn't the reason you saved to be able to maintain through rough patches?
Exactly. Reigning in spending to buy more stock. But buying stock doesn’t exactly stimulate our consumer-based economy.
So you don't normally reign in your spending this much to buy stock, but are now because you see this as a good TIME to buy. Sounds like Market Timing.
IMHO, Investing should be about living the life you want, not avoiding the life you fear. | Run, You Clever Boy! [9085]
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Re: U.S. stocks continue to soar!

Post by Lee_WSP »

TheTimeLord wrote: Fri Mar 13, 2020 11:26 pm
CoastalWinds wrote: Fri Mar 13, 2020 10:49 pm
TheTimeLord wrote: Fri Mar 13, 2020 10:36 pm
CoastalWinds wrote: Fri Mar 13, 2020 10:27 pm
peskypesky wrote: Fri Mar 13, 2020 10:20 pm

Me too. Reigning in spending.
Same.

And multiply this by many people ... our economy is in big trouble.
Why would BH with jobs and an emergency fund be reigning in their spending, instead of taking advantage of bargains and sales? I am not understanding the logic, isn't the reason you saved to be able to maintain through rough patches?
Exactly. Reigning in spending to buy more stock. But buying stock doesn’t exactly stimulate our consumer-based economy.
So you don't normally reign in your spending this much to buy stock, but are now because you see this as a good TIME to buy. Sounds like Market Timing.
Guilty. But it’s the best form of timing. You can't lose. It actually will work all the time. May get cut a few times on the way down, but it's better than cutting spending last month.
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Re: U.S. stocks continue to soar!

Post by CoastalWinds »

TheTimeLord wrote: Fri Mar 13, 2020 11:26 pm
CoastalWinds wrote: Fri Mar 13, 2020 10:49 pm
TheTimeLord wrote: Fri Mar 13, 2020 10:36 pm
CoastalWinds wrote: Fri Mar 13, 2020 10:27 pm
peskypesky wrote: Fri Mar 13, 2020 10:20 pm

Me too. Reigning in spending.
Same.

And multiply this by many people ... our economy is in big trouble.
Why would BH with jobs and an emergency fund be reigning in their spending, instead of taking advantage of bargains and sales? I am not understanding the logic, isn't the reason you saved to be able to maintain through rough patches?
Exactly. Reigning in spending to buy more stock. But buying stock doesn’t exactly stimulate our consumer-based economy.
So you don't normally reign in your spending this much to buy stock, but are now because you see this as a good TIME to buy. Sounds like Market Timing.
No, you’re inference is incorrect. I’m always buying, but also simultaneously spending and living. When things get rough like it is now, I tighten my spending a bit to try and squeeze a little more stocks.
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TheTimeLord
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Re: U.S. stocks continue to soar!

Post by TheTimeLord »

We have a bounce. Interested to see if we close above Thursday close.
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theorist
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Re: U.S. stocks continue to soar!

Post by theorist »

Futures are (a little bit) green. US stocks soar tomorrow? 🤞🏽
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TheTimeLord
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Re: U.S. stocks continue to soar!

Post by TheTimeLord »

theorist wrote: Mon Mar 16, 2020 7:27 pm Futures are (a little bit) green. US stocks soar tomorrow? 🤞🏽
That would be nice. Hopefully calm some of the people here down a bit. But either way I'm good.
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Re: U.S. stocks continue to soar!

Post by Lee_WSP »

theorist wrote: Mon Mar 16, 2020 7:27 pm Futures are (a little bit) green. US stocks soar tomorrow? 🤞🏽
I’m counting on it. Got all my chips riding on that.

Okay, I’ve usually got all my chips riding on that happening.... :oops:
MotoTrojan
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Re: U.S. stocks continue to soar!

Post by MotoTrojan »

TheTimeLord wrote: Mon Mar 16, 2020 7:47 pm
theorist wrote: Mon Mar 16, 2020 7:27 pm Futures are (a little bit) green. US stocks soar tomorrow? 🤞🏽
That would be nice. Hopefully calm some of the people here down a bit. But either way I'm good.
Were people talking about 80% declines and depressions in 2007-2009? This is ridiculous.
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TheTimeLord
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Re: U.S. stocks continue to soar!

Post by TheTimeLord »

MotoTrojan wrote: Mon Mar 16, 2020 8:14 pm
TheTimeLord wrote: Mon Mar 16, 2020 7:47 pm
theorist wrote: Mon Mar 16, 2020 7:27 pm Futures are (a little bit) green. US stocks soar tomorrow? 🤞🏽
That would be nice. Hopefully calm some of the people here down a bit. But either way I'm good.
Were people talking about 80% declines and depressions in 2007-2009? This is ridiculous.
Plus discussing failing Money Markets and CDs. I find the behavior here disappointing but expected. And then there are people who just receptively post things to scare people, don't get that either.
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Re: U.S. stocks continue to soar!

Post by ReformedSpender »

It is HIGHLY likely we see a 10-15% counter rally take place. Please do not take this as a sign that we are moving back to new ATH's.

We are far from out of the woods
Market history shows that when there's economic blue sky, future returns are low, and when the economy is on the skids, future returns are high. The best fishing is done in the most stormy waters.
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TheTimeLord
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Re: U.S. stocks continue to soar!

Post by TheTimeLord »

ReformedSpender wrote: Mon Mar 16, 2020 8:48 pm It is HIGHLY likely we see a 10-15% counter rally take place. Please do not take this as a sign that we are moving back to new ATH's.

We are far from out of the woods
Futures limit up.
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ReformedSpender
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Re: U.S. stocks continue to soar!

Post by ReformedSpender »

TheTimeLord wrote: Mon Mar 16, 2020 8:53 pm
ReformedSpender wrote: Mon Mar 16, 2020 8:48 pm It is HIGHLY likely we see a 10-15% counter rally take place. Please do not take this as a sign that we are moving back to new ATH's.

We are far from out of the woods
Futures limit up.
Yes, S&P only has +7% to go to make up todays one day decline :D :D
Market history shows that when there's economic blue sky, future returns are low, and when the economy is on the skids, future returns are high. The best fishing is done in the most stormy waters.
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TheTimeLord
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Re: U.S. stocks continue to soar!

Post by TheTimeLord »

ReformedSpender wrote: Mon Mar 16, 2020 9:03 pm
TheTimeLord wrote: Mon Mar 16, 2020 8:53 pm
ReformedSpender wrote: Mon Mar 16, 2020 8:48 pm It is HIGHLY likely we see a 10-15% counter rally take place. Please do not take this as a sign that we are moving back to new ATH's.

We are far from out of the woods
Futures limit up.
Yes, S&P only has +7% to go to make up todays one day decline :D :D
But looks like we will get above the Thursday's close 2,480.64.
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MotoTrojan
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Re: U.S. stocks continue to soar!

Post by MotoTrojan »

Futures seem to be moving; thought once they limit up they halt for the night?
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TheTimeLord
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Re: U.S. stocks continue to soar!

Post by TheTimeLord »

MotoTrojan wrote: Mon Mar 16, 2020 9:30 pm Futures seem to be moving; thought once they limit up they halt for the night?
My understanding is they can trade just not any higher than limit up ( or lower than limit down).
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MotoTrojan
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Re: U.S. stocks continue to soar!

Post by MotoTrojan »

TheTimeLord wrote: Mon Mar 16, 2020 9:31 pm
MotoTrojan wrote: Mon Mar 16, 2020 9:30 pm Futures seem to be moving; thought once they limit up they halt for the night?
My understanding is they can trade just not any higher than limit up ( or lower than limit down).
I see, so they seemed to get stuck previously because they never recovered from the limit down. Tomorrow should be interesting.
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Re: U.S. stocks continue to soar!

Post by fanmail »

Futures limits are different than the intraday circuit breakers. The limit price can be traded.
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Re: U.S. stocks continue to soar!

Post by fanmail »

MotoTrojan wrote: Mon Mar 16, 2020 9:49 pm
TheTimeLord wrote: Mon Mar 16, 2020 9:31 pm
MotoTrojan wrote: Mon Mar 16, 2020 9:30 pm Futures seem to be moving; thought once they limit up they halt for the night?
My understanding is they can trade just not any higher than limit up ( or lower than limit down).
I see, so they seemed to get stuck previously because they never recovered from the limit down. Tomorrow should be interesting.
Not stuck, but there were thousands of contracts offered limit down. The market wanted to trade much lower, which it did when it was allowed.
MotoTrojan
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Re: U.S. stocks continue to soar!

Post by MotoTrojan »

fanmail wrote: Mon Mar 16, 2020 10:49 pm
MotoTrojan wrote: Mon Mar 16, 2020 9:49 pm
TheTimeLord wrote: Mon Mar 16, 2020 9:31 pm
MotoTrojan wrote: Mon Mar 16, 2020 9:30 pm Futures seem to be moving; thought once they limit up they halt for the night?
My understanding is they can trade just not any higher than limit up ( or lower than limit down).
I see, so they seemed to get stuck previously because they never recovered from the limit down. Tomorrow should be interesting.
Not stuck, but there were thousands of contracts offered limit down. The market wanted to trade much lower, which it did when it was allowed.
When were they allowed? Regular market open? I thought futures halts were not time limited but were perpetual.
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Re: U.S. stocks continue to soar!

Post by fanmail »

MotoTrojan wrote: Tue Mar 17, 2020 8:33 am
fanmail wrote: Mon Mar 16, 2020 10:49 pm
MotoTrojan wrote: Mon Mar 16, 2020 9:49 pm
TheTimeLord wrote: Mon Mar 16, 2020 9:31 pm
MotoTrojan wrote: Mon Mar 16, 2020 9:30 pm Futures seem to be moving; thought once they limit up they halt for the night?
My understanding is they can trade just not any higher than limit up ( or lower than limit down).
I see, so they seemed to get stuck previously because they never recovered from the limit down. Tomorrow should be interesting.
Not stuck, but there were thousands of contracts offered limit down. The market wanted to trade much lower, which it did when it was allowed.
When were they allowed? Regular market open? I thought futures halts were not time limited but were perpetual.
Yes, the new day's regular open unlocked it.
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TheTimeLord
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Re: U.S. stocks continue to soar!

Post by TheTimeLord »

MotoTrojan wrote: Tue Mar 17, 2020 8:33 am
fanmail wrote: Mon Mar 16, 2020 10:49 pm
MotoTrojan wrote: Mon Mar 16, 2020 9:49 pm
TheTimeLord wrote: Mon Mar 16, 2020 9:31 pm
MotoTrojan wrote: Mon Mar 16, 2020 9:30 pm Futures seem to be moving; thought once they limit up they halt for the night?
My understanding is they can trade just not any higher than limit up ( or lower than limit down).
I see, so they seemed to get stuck previously because they never recovered from the limit down. Tomorrow should be interesting.
Not stuck, but there were thousands of contracts offered limit down. The market wanted to trade much lower, which it did when it was allowed.
When were they allowed? Regular market open? I thought futures halts were not time limited but were perpetual.
https://www.cmegroup.com/trading/equity ... imits.html
"From 3:00 p.m. until the end of the current trading day at 4:00 p.m., CT there is a hard upside and downside limit of 5% based on the 3:00 p.m. reference price. The downside price limit, however, is either 5% below the 3:00 p.m. reference price OR the 20% price limit that applied before 3:00 p.m., whichever is closer to the 3 p.m. price."
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Re: U.S. stocks continue to soar!

Post by samsoes »

bump.
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Re: U.S. stocks continue to soar!

Post by minimalistmarc »

samsoes wrote: Tue Mar 17, 2020 11:27 ambump.
Bumpity bump, thank god it’s over!
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Re: U.S. stocks continue to soar!

Post by AnalogKid22 »

Ya, we're "soaring" now. Rough last week, stupid pandemic, but clear sailing from here on out... I'm sure we can all FIRE by Summer.
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Re: U.S. stocks continue to soar!

Post by Jim180 »

For a day. Tomorrow we probably head South again.
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Re: U.S. stocks continue to soar!

Post by Lee_WSP »

I can't keep taking the volatility, but everything else has ground to a halt, so all I do is watch the darned tickers!!!
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Re: U.S. stocks continue to soar!

Post by willthrill81 »

Jim180 wrote: Tue Mar 17, 2020 3:45 pm For a day. Tomorrow we probably head South again.
FWIW, since 2/19, stocks have not had two consecutive positive days.
“It's a dangerous business, Frodo, going out your door. You step onto the road, and if you don't keep your feet, there's no knowing where you might be swept off to.” J.R.R. Tolkien,The Lord of the Rings
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Stef
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Re: U.S. stocks continue to soar!

Post by Stef »

Please go down again, I swear if VTI drops again below 120$ I'll stop playing games and go allin with the rest I have in cash.
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Re: U.S. stocks continue to soar!

Post by drk »

Stef wrote: Tue Mar 17, 2020 3:52 pm Please go down again, I swear if VTI drops again below 120$ I'll stop playing games and go allin with the rest I have in cash.
VTI was down to $118.xx this morning, you know.
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Re: U.S. stocks continue to soar!

Post by Stef »

drk wrote: Tue Mar 17, 2020 3:57 pmVTI was down to $118.xx this morning, you know.
I know but I totally missed it because I was in a meeting. Maybe I'll see it again.
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J G Bankerton
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Re: U.S. stocks continue to soar!

Post by J G Bankerton »

It was not all Sunshine, Lollipops And Rainbows at 10 AM EDT when my limit buy bot grabbed the falling VOO knife at 217; that buy is up 7.32%, more that a percent an hour. Back in the black. :greedy
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Re: U.S. stocks continue to soar!

Post by theorist »

willthrill81 wrote: Tue Mar 17, 2020 3:47 pm
Jim180 wrote: Tue Mar 17, 2020 3:45 pm For a day. Tomorrow we probably head South again.
FWIW, since 2/19, stocks have not had two consecutive positive days.
S&P 500 futures currently up on this site

https://www.investing.com/indices/us-spx-500-futures

...but of course I can’t vouch for accuracy, or what new headlines tonight or tomorrow will bring.
Last edited by theorist on Tue Mar 17, 2020 4:12 pm, edited 1 time in total.
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Re: U.S. stocks continue to soar!

Post by drk »

Stef wrote: Tue Mar 17, 2020 4:03 pm I know but I totally missed it because I was in a meeting. Maybe I'll see it again.
I hear you. I woke up, looked at my phone, saw the spreads, and figured I had time to start the coffee. :oops:
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Re: U.S. stocks continue to soar!

Post by drk »

theorist wrote: Tue Mar 17, 2020 4:12 pm S&P 500 futures currently up on this site

https://www.investing.com/indices/us-spx-500-futures

...but of course I can’t vouch for accuracy, or what new headlines tonight or tomorrow will bring.
Those are stale. This isn't necessarily meaningful, but SPY is trading around 248.90, down from its 252.80 close.
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Re: U.S. stocks continue to soar!

Post by theorist »

drk wrote: Tue Mar 17, 2020 4:17 pm
theorist wrote: Tue Mar 17, 2020 4:12 pm S&P 500 futures currently up on this site

https://www.investing.com/indices/us-spx-500-futures

...but of course I can’t vouch for accuracy, or what new headlines tonight or tomorrow will bring.
Those are stale. This isn't necessarily meaningful, but SPY is trading around 248.90, down from its 252.80 close.
OK! Maybe a buying opportunity tomorrow.
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Re: U.S. stocks continue to soar!

Post by canadianbacon »

It's a good thing we're passive investors because nobody here can read futures :-P.
Bulls make money, bears make money, pigs get slaughtered.
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Re: U.S. stocks continue to soar!

Post by fanmail »

theorist wrote: Tue Mar 17, 2020 4:12 pm
willthrill81 wrote: Tue Mar 17, 2020 3:47 pm
Jim180 wrote: Tue Mar 17, 2020 3:45 pm For a day. Tomorrow we probably head South again.
FWIW, since 2/19, stocks have not had two consecutive positive days.
S&P 500 futures currently up on this site

https://www.investing.com/indices/us-spx-500-futures

...but of course I can’t vouch for accuracy, or what new headlines tonight or tomorrow will bring.
You're still a little confused on the futures market. That value is today's last traded price. 2474 is well below 2529, which means that in the post session after the regular market closed, the futures traded down sharply. The futures market for 3/18 will open at 6pm est in 40 minutes. The implied open will tell you how much the futures market is indicating vs the prior day's regular session settle price. The June futures are trading at a discount to the SPX intraday, so you can't just take 2474-2529 = -55. The futures are approx 15 lower than SPX, so if it opens at 2474, that would indicate an implied open of around -40.

Let me know if that is still confusing.
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Re: U.S. stocks continue to soar!

Post by fanmail »

I get implied open data here from CNBC:
https://www.cnbc.com/pre-markets/

That indicates the futures equivalent is 2514.19 vs 2529.19 SPX, a discount of 15. Whatever price is traded overnight, compare it to 2514.19 to get the implied morning open.
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Re: U.S. stocks continue to soar!

Post by Lee_WSP »

fanmail wrote: Tue Mar 17, 2020 4:34 pm I get implied open data here from CNBC:
https://www.cnbc.com/pre-markets/

That indicates the futures equivalent is 2514.19 vs 2529.19 SPX, a discount of 15. Whatever price is traded overnight, compare it to 2514.19 to get the implied morning open.
CNN does it for you.

https://www.cnn.com/business/markets/premarkets
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Re: U.S. stocks continue to soar!

Post by theorist »

Lee_WSP wrote: Tue Mar 17, 2020 4:48 pm
fanmail wrote: Tue Mar 17, 2020 4:34 pm I get implied open data here from CNBC:
https://www.cnbc.com/pre-markets/

That indicates the futures equivalent is 2514.19 vs 2529.19 SPX, a discount of 15. Whatever price is traded overnight, compare it to 2514.19 to get the implied morning open.
CNN does it for you.

https://www.cnn.com/business/markets/premarkets
Thanks! All clear.
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J G Bankerton
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Re: U.S. stocks continue to soar!

Post by J G Bankerton »

canadianbacon wrote: Tue Mar 17, 2020 4:21 pm It's a good thing we're passive investors because nobody here can read futures :-P.
It's hard to make predictions, especially about the future. All I know about investing is buy and hold VOO. :greedy
Lee_WSP
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Re: U.S. stocks continue to soar!

Post by Lee_WSP »

J G Bankerton wrote: Tue Mar 17, 2020 7:53 pm
canadianbacon wrote: Tue Mar 17, 2020 4:21 pm It's a good thing we're passive investors because nobody here can read futures :-P.
It's hard to make predictions, especially about the future. All I know about investing is buy and hold VOO. :greedy
I disagree. It's hard to be right 100% of the time, easy enough to be right 50% of the time with good information, but almost impossible to time it with anywhere near enough accuracy to make money constantly.
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willthrill81
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Re: U.S. stocks continue to soar!

Post by willthrill81 »

Lee_WSP wrote: Tue Mar 17, 2020 9:52 pm
J G Bankerton wrote: Tue Mar 17, 2020 7:53 pm
canadianbacon wrote: Tue Mar 17, 2020 4:21 pm It's a good thing we're passive investors because nobody here can read futures :-P.
It's hard to make predictions, especially about the future. All I know about investing is buy and hold VOO. :greedy
I disagree. It's hard to be right 100% of the time, easy enough to be right 50% of the time with good information, but almost impossible to time it with anywhere near enough accuracy to make money constantly.
Or you may find yourself proverbially picking up nickels in front of a steamroller. Keep it up, and one day you'll get squished.
“It's a dangerous business, Frodo, going out your door. You step onto the road, and if you don't keep your feet, there's no knowing where you might be swept off to.” J.R.R. Tolkien,The Lord of the Rings
drk
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Re: U.S. stocks continue to soar!

Post by drk »

willthrill81 wrote: Tue Mar 17, 2020 10:21 pm Or you may find yourself proverbially picking up nickels in front of a steamroller. Keep it up, and one day you'll get squished.
Oh, man, that reminds me: a mere two years ago people blew up by shorting volatility, betting that a single-digit VIX would stick around forever.
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willthrill81
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Re: U.S. stocks continue to soar!

Post by willthrill81 »

drk wrote: Tue Mar 17, 2020 10:24 pm
willthrill81 wrote: Tue Mar 17, 2020 10:21 pm Or you may find yourself proverbially picking up nickels in front of a steamroller. Keep it up, and one day you'll get squished.
Oh, man, that reminds me: a mere two years ago people blew up by shorting volatility, betting that a single-digit VIX would stick around forever.
That was only two years ago! It feels like it was a lot longer ago than that, back when the world was young and stocks only went up.
“It's a dangerous business, Frodo, going out your door. You step onto the road, and if you don't keep your feet, there's no knowing where you might be swept off to.” J.R.R. Tolkien,The Lord of the Rings
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