5.5 hours till the open. 10% down isn't out of the realm. 2000+ points. I'm tossing and turning. London overnights are already at 10%.
March 9, 2009 was the low then. Bizarre that this date emerges again.
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5.5 hours till the open. 10% down isn't out of the realm. 2000+ points. I'm tossing and turning. London overnights are already at 10%.
March 9, 2009 was the low then. Bizarre that this date emerges again.
A 7% drop will halt the market for 15 min.(circuit breaker)
Likely happen very early on, this morning.
13%--15 min. halt.
20%--complete halt.
What ETF's some of you looking at in the indices?
-2000 coming this morning.
Premarket action is -7.5% ish, so we're looking right around -1900 on the open.
I'm paying attention to XLU, utilities. If they pace along with the broad market, the sell off will be a free fall. -5000 isn't impossible, as fear will decimate all sectors.
Premarket, BP -20%, XOM -15%, Conoco -23%, ET (pipelines) -25%.
We've not experienced a crash like this.
first circuit breaker hit
should be 15 min. hold
If I keep my head and play this right, this is my retirement plan. Sifting through the carnage this week is serious, important, and worthwhile. The broad market is resetting to early 2019 only, potentially, so not a catastrophic situation. But certain names will be well below justified levels. Have to find them.
Play I'm looking for: those making money on the oil spread. ie, benefit from the low input cost, but not suffer on the output end for whatever reason.
Trading resuming in 2 mins.
watching F
not getting in a hurry.
I will be buying mutual funds as we drop.
Most indice based are good deals here,imo
Clawing back, good sign. Wiser heads are prevailing at the moment. Still an entire day to go and news for the market to digest.
This could mark a bottom on the whole virus hysteria, if losses are limited after a terrible news weekend. I'm picking through names. I prefer individual names to broad funds.
24,174 has to hold or we go 23,000
bounced off 24,173
This daily rate of decline from the highs, exceeds 1929
Why I mentioned history on the first decline.
I sincerely hope that rate declines.
First leg in 1929 declined 49%.
I'm not saying a crash is inevitable, just that so far it's decline is historic.
Interesting stocks that might benefit from current events.
AOBC
RGR
VSTO
I bought some VSTO--I like it best of the 3
Normally with reduced oil prices, input costs for chemical manufacturers fall and their stocks rally accordingly. But we're not seeing that today. Dow, DuPont, and others. Either unjustified collateral damage, or slack demand for end products, or flattening of the margin curve for their product in general. It's a massacre of some big names.
Attachment 94188
Yep the same thing is observed with gold stocks. Under normal circumstances, gold stocks like Barrick and Newmont are viewed as a safe haven and will rally pretty hard during times where most other discretionary stocks struggle. But we're not seeing that today.
Barrick is currently down -4.5%, and Newmont is down -7% as they are getting massacred along with the rest. :ne_nau: