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(CNBC)   Aaaaaaaand there goes the Dow   (cnbc.com) divider line
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2525 clicks; posted to Business » on 19 Oct 2020 at 10:56 AM (5 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



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2020-10-19 11:06:35 AM  
U.S. stocks slipped on Monday as investors hoped for a stimulus deal from Washington

Based on what?  The House is asking for one number, Trump is offering a bit less than that, and Mitch isn't even in the same ballpark as either.  I honestly don't see a deal happening before the end of January now.  The only reason Trump is even offering what he is is due to his attempt to buy votes.  In a few weeks, neither Trump nor the Senate will give a shiat about passing anything.
 
2020-10-19 11:09:04 AM  
No stimulus is coming.  Stock traders are an optimistic bunch.
 
2020-10-19 11:09:17 AM  

NeoCortex42: U.S. stocks slipped on Monday as investors hoped for a stimulus deal from Washington

Based on what?  The House is asking for one number, Trump is offering a bit less than that, and Mitch isn't even in the same ballpark as either.  I honestly don't see a deal happening before the end of January now.  The only reason Trump is even offering what he is is due to his attempt to buy votes.  In a few weeks, neither Trump nor the Senate will give a shiat about passing anything.


I bet you see one very quickly after the election but before the new Congress is seated. It'll have a ton of pork for big business, and a pittance for everyday people, because the GOP knows it's their last chance for a little while.
 
2020-10-19 11:12:43 AM  
DIE DIE DIE
 
2020-10-19 11:12:54 AM  

Klivian: NeoCortex42: U.S. stocks slipped on Monday as investors hoped for a stimulus deal from Washington

Based on what?  The House is asking for one number, Trump is offering a bit less than that, and Mitch isn't even in the same ballpark as either.  I honestly don't see a deal happening before the end of January now.  The only reason Trump is even offering what he is is due to his attempt to buy votes.  In a few weeks, neither Trump nor the Senate will give a shiat about passing anything.

I bet you see one very quickly after the election but before the new Congress is seated. It'll have a ton of pork for big business, and a pittance for everyday people, because the GOP knows it's their last chance for a little while.


Oh, the GOP will absolutely try and pass something that just hands some money over to stockholders, but I don't see the House signing on to it.  And there's also the matter that Trump will be even less inclined to do anything to help anyone but himself after the election.
 
2020-10-19 11:18:15 AM  
NeoCortex42:

Oh, the GOP will absolutely try and pass something that just hands some money over to stockholders, but I don't see the House signing on to it.  And there's also the matter that Trump will be even less inclined to do anything to help anyone but himself after the election.

The GOP won't vote on anything more than show legislation that everyone with a pulse knows won't pass.  They're dead-set on their new role as deficit hawks, election be damned.
 
2020-10-19 11:20:46 AM  

NeoCortex42: U.S. stocks slipped on Monday as investors hoped for a stimulus deal from Washington

Based on what?  The House is asking for one number, Trump is offering a bit less than that, and Mitch isn't even in the same ballpark as either.  I honestly don't see a deal happening before the end of January now.  The only reason Trump is even offering what he is is due to his attempt to buy votes.  In a few weeks, neither Trump nor the Senate will give a shiat about passing anything.


The new Congress gets seated in early January.
And, I bet that it goes nuclear.

Now, the veto-proof majority is still in question at this point, but Trump has two weeks.
 
2020-10-19 11:21:30 AM  
Meh, it's down 60. That should be a normal day.
 
2020-10-19 11:25:06 AM  
It's back where it was in January before covid became an issue, and I thought it was overvalued then. At the time I called the bottom at around $20k, which turned out to be too optimistic.

I think there will be another pullback before the post covid rebound.

And I need to reverse my position on post covid business travel. While there might be a slight reduction in sending back office types around the world for needless intracompany face to face meetings, the front office will travel as soon as they see their competition doing it. It's a classic prisoner's dilemma. So, airlines might be a better bargain now than we think - assuming they can survive long enough.
 
2020-10-19 11:27:25 AM  
The stock market is not the economy.

A market needing yet another round of government free money isn't to a stock market either.
 
2020-10-19 11:34:50 AM  

cryinoutloud: DIE DIE DIE


media1.tenor.comView Full Size
 
2020-10-19 11:35:34 AM  

H31N0US: It's back where it was in January before covid became an issue, and I thought it was overvalued then. At the time I called the bottom at around $20k, which turned out to be too optimistic.

I think there will be another pullback before the post covid rebound.

And I need to reverse my position on post covid business travel. While there might be a slight reduction in sending back office types around the world for needless intracompany face to face meetings, the front office will travel as soon as they see their competition doing it. It's a classic prisoner's dilemma. So, airlines might be a better bargain now than we think - assuming they can survive long enough.


Airlines are toast.

They will all eventually have to declare bankruptcy.
 
2020-10-19 11:38:56 AM  
as of 11:38, it's down -57.80

v1.nitrocdn.comView Full Size
 
2020-10-19 11:39:58 AM  

TedCruz'sCrazyDad: H31N0US: It's back where it was in January before covid became an issue, and I thought it was overvalued then. At the time I called the bottom at around $20k, which turned out to be too optimistic.

I think there will be another pullback before the post covid rebound.

And I need to reverse my position on post covid business travel. While there might be a slight reduction in sending back office types around the world for needless intracompany face to face meetings, the front office will travel as soon as they see their competition doing it. It's a classic prisoner's dilemma. So, airlines might be a better bargain now than we think - assuming they can survive long enough.

Airlines are toast.

They will all eventually have to declare bankruptcy.


Airlines have declared bankruptcy multiple times in my life. They'll fire a bunch of people, reorganize debts, cut pensions, and return just like they always do.  Travel isn't over.
 
2020-10-19 11:45:11 AM  

Rapmaster2000: TedCruz'sCrazyDad: H31N0US: It's back where it was in January before covid became an issue, and I thought it was overvalued then. At the time I called the bottom at around $20k, which turned out to be too optimistic.

I think there will be another pullback before the post covid rebound.

And I need to reverse my position on post covid business travel. While there might be a slight reduction in sending back office types around the world for needless intracompany face to face meetings, the front office will travel as soon as they see their competition doing it. It's a classic prisoner's dilemma. So, airlines might be a better bargain now than we think - assuming they can survive long enough.

Airlines are toast.

They will all eventually have to declare bankruptcy.

Airlines have declared bankruptcy multiple times in my life. They'll fire a bunch of people, reorganize debts, cut pensions, and return just like they always do.  Travel isn't over.


Investing in them right now is a crap shoot 💩 though.
 
2020-10-19 11:52:56 AM  

TedCruz'sCrazyDad: Rapmaster2000: TedCruz'sCrazyDad: H31N0US: It's back where it was in January before covid became an issue, and I thought it was overvalued then. At the time I called the bottom at around $20k, which turned out to be too optimistic.

I think there will be another pullback before the post covid rebound.

And I need to reverse my position on post covid business travel. While there might be a slight reduction in sending back office types around the world for needless intracompany face to face meetings, the front office will travel as soon as they see their competition doing it. It's a classic prisoner's dilemma. So, airlines might be a better bargain now than we think - assuming they can survive long enough.

Airlines are toast.

They will all eventually have to declare bankruptcy.

Airlines have declared bankruptcy multiple times in my life. They'll fire a bunch of people, reorganize debts, cut pensions, and return just like they always do.  Travel isn't over.

Investing in them right now is a crap shoot 💩 though.


Agreed.  The airline industry will exist after 2021, but I wouldn't invest in any of them.  Too unpredictable.  Besides, you can just put money in Amazon and get what looks like a guaranteed return.
 
2020-10-19 11:53:25 AM  
Headline is a bit much, considering the article mentions a 100 point drop.  Which is not a lot, that's a normal down day.

No one smart *expects* a stimulus, and I'm pretty sure the markets have already priced in bipartisan gridlock.
 
2020-10-19 11:57:56 AM  

Rapmaster2000: TedCruz'sCrazyDad: Rapmaster2000: TedCruz'sCrazyDad: H31N0US: It's back where it was in January before covid became an issue, and I thought it was overvalued then. At the time I called the bottom at around $20k, which turned out to be too optimistic.

I think there will be another pullback before the post covid rebound.

And I need to reverse my position on post covid business travel. While there might be a slight reduction in sending back office types around the world for needless intracompany face to face meetings, the front office will travel as soon as they see their competition doing it. It's a classic prisoner's dilemma. So, airlines might be a better bargain now than we think - assuming they can survive long enough.

Airlines are toast.

They will all eventually have to declare bankruptcy.

Airlines have declared bankruptcy multiple times in my life. They'll fire a bunch of people, reorganize debts, cut pensions, and return just like they always do.  Travel isn't over.

Investing in them right now is a crap shoot 💩 though.

Agreed.  The airline industry will exist after 2021, but I wouldn't invest in any of them.  Too unpredictable.  Besides, you can just put money in Amazon and get what looks like a guaranteed return.


Just by virtue of people not wanting to take.... trains... everywhere across the country.  I'm not betting my money on any specific... anything.
 
2020-10-19 11:58:43 AM  

Rapmaster2000: TedCruz'sCrazyDad: H31N0US: It's back where it was in January before covid became an issue, and I thought it was overvalued then. At the time I called the bottom at around $20k, which turned out to be too optimistic.

I think there will be another pullback before the post covid rebound.

And I need to reverse my position on post covid business travel. While there might be a slight reduction in sending back office types around the world for needless intracompany face to face meetings, the front office will travel as soon as they see their competition doing it. It's a classic prisoner's dilemma. So, airlines might be a better bargain now than we think - assuming they can survive long enough.

Airlines are toast.

They will all eventually have to declare bankruptcy.

Airlines have declared bankruptcy multiple times in my life. They'll fire a bunch of people, reorganize debts, cut pensions, and return just like they always do.  Travel isn't over.


Any the flagship airlines of many countries are propped up by their governments.
 
2020-10-19 11:59:02 AM  

bostonguy: Any the flagship airlines of many countries are propped up by their governments.


And
 
2020-10-19 11:59:45 AM  

Rapmaster2000: TedCruz'sCrazyDad: Rapmaster2000: TedCruz'sCrazyDad: H31N0US: It's back where it was in January before covid became an issue, and I thought it was overvalued then. At the time I called the bottom at around $20k, which turned out to be too optimistic.

I think there will be another pullback before the post covid rebound.

And I need to reverse my position on post covid business travel. While there might be a slight reduction in sending back office types around the world for needless intracompany face to face meetings, the front office will travel as soon as they see their competition doing it. It's a classic prisoner's dilemma. So, airlines might be a better bargain now than we think - assuming they can survive long enough.

Airlines are toast.

They will all eventually have to declare bankruptcy.

Airlines have declared bankruptcy multiple times in my life. They'll fire a bunch of people, reorganize debts, cut pensions, and return just like they always do.  Travel isn't over.

Investing in them right now is a crap shoot 💩 though.

Agreed.  The airline industry will exist after 2021, but I wouldn't invest in any of them.  Too unpredictable.  Besides, you can just put money in Amazon and get what looks like a guaranteed return.


And American Airlines stock is up because they are returning the 737MAX to service.
 
2020-10-19 12:19:14 PM  
¯\_(ツ)_/¯   Last time I checked our accounts were up about 13% since Jan 1.
 
2020-10-19 12:24:37 PM  

Klivian: NeoCortex42: U.S. stocks slipped on Monday as investors hoped for a stimulus deal from Washington

Based on what?  The House is asking for one number, Trump is offering a bit less than that, and Mitch isn't even in the same ballpark as either.  I honestly don't see a deal happening before the end of January now.  The only reason Trump is even offering what he is is due to his attempt to buy votes.  In a few weeks, neither Trump nor the Senate will give a shiat about passing anything.

I bet you see one very quickly after the election but before the new Congress is seated. It'll have a ton of pork for big business, and a pittance for everyday people, because the GOP knows it's their last chance for a little while.


this is absolutely spot-on.
 
2020-10-19 12:34:16 PM  
Oh yeah, it has really crashed... checks ticker... 0.32%.
 
2020-10-19 12:59:00 PM  

H31N0US: It's back where it was in January before covid became an issue, and I thought it was overvalued then. At the time I called the bottom at around $20k, which turned out to be too optimistic.

I think there will be another pullback before the post covid rebound.

And I need to reverse my position on post covid business travel. While there might be a slight reduction in sending back office types around the world for needless intracompany face to face meetings, the front office will travel as soon as they see their competition doing it. It's a classic prisoner's dilemma. So, airlines might be a better bargain now than we think - assuming they can survive long enough.


The S&P's P/E is in territory not seen since 2008.

Fark user imageView Full Size
 
2020-10-19 1:28:22 PM  

Rapmaster2000: TedCruz'sCrazyDad: H31N0US: It's back where it was in January before covid became an issue, and I thought it was overvalued then. At the time I called the bottom at around $20k, which turned out to be too optimistic.

I think there will be another pullback before the post covid rebound.

And I need to reverse my position on post covid business travel. While there might be a slight reduction in sending back office types around the world for needless intracompany face to face meetings, the front office will travel as soon as they see their competition doing it. It's a classic prisoner's dilemma. So, airlines might be a better bargain now than we think - assuming they can survive long enough.

Airlines are toast.

They will all eventually have to declare bankruptcy.

Airlines have declared bankruptcy multiple times in my life. They'll fire a bunch of people, reorganize debts, cut pensions, and return just like they always do.  Travel isn't over.


You forgot the consolidation step.
Think having just four big airlines was bad for flyers, wait until there are only two left.
 
2020-10-19 3:21:39 PM  

Resin33: Oh yeah, it has really crashed... checks ticker... 0.32%.


Came to say this, and scold subby for his use of obvious.

Unless he's that billionaire investor that puts warren buffet to shame.
 
2020-10-19 3:33:22 PM  

edmo: The stock market is not the economy.

A market needing yet another round of government free money isn't to a stock market either.


Murca is a State Capitalist system, not a free market capitalist system.
 
2020-10-19 4:31:18 PM  
Fark user imageView Full Size
 
2020-10-19 8:26:45 PM  

Rapmaster2000: No stimulus is coming.  Stock traders are an optimistic bunch.


Look they're coming down from a 3 Trillion dollar binge. So yeah they are optimistic that another score is just around the corner, and the party won't stop.

/ Just wait till they get the shakes.
 
2020-10-19 8:38:09 PM  

Xzano: Rapmaster2000: No stimulus is coming.  Stock traders are an optimistic bunch.

Look they're coming down from a 3 Trillion dollar binge. So yeah they are optimistic that another score is just around the corner, and the party won't stop.

/ Just wait till they get the shakes.


They don't care. They've already accounted for short term crashing from covid19.  The country will recover whether or not covid takes a million lives, and the bulk of economic damage isn't going to last another year.

Any stimulus packages or deficit spending will either boost the market directly because our legislature is beholden to the wealthy, or it won't matter. The market is pretty inured and protected against inflation and debt.  Inflation will reduce the value of the dollar, while simultaneously the value of stuff, which the market ultimately represents, will scale accordingly.
 
2020-10-20 2:17:45 AM  
Wake me up when it hits 26500
 
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