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Stock Market Today: April 20th - 24th, 2020

Discussion in 'Stock Market Today' started by bigbear0083, Apr 18, 2020.

  1. Vdubman

    Vdubman Active Member

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    Holy oil prices Batman!
     
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  2. Venom08

    Venom08 Active Member

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    omg now that's a name I haven't seen in many years!
     
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  3. rando

    rando Member

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    Amazing to see CL continuous contract down over 300% at one point today

    [​IMG]
    ed: I must now be old, can no longer figure out trying 3 sites and 4 methods how to post a simple screen cap. Sigh.


    [​IMG]
     
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  4. stock1234

    stock1234 2017 Stockaholics Contest Winner

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    LOL I know it is due to the futures contract thing but still kinda funny to see oil is -$24 on the CNBC APP :p
     
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  5. bigbear0083

    bigbear0083 Content Manager
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    wait, am i wrong that /cl continuous hasn't rolled to the june contract?

    i'm seeing june for /cl in tos...werid.

    and ya, ditto what @Venom08 said, always a spectacle when @rando chimes in here! :D
     
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  6. bigbear0083

    bigbear0083 Content Manager
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    here you go...fixed for you so its showing up on the post. not sure why yours wasn't showing.

    [​IMG]
     
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  7. rando

    rando Member

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    The only thing oil is saying is nobody wants to take it today, this week, or this month. It's also telling us the cost of shutting off production, given that they would pay twice its market price for people to take it off their hands.

    Of course the contract rolled so most brokerages show next month, the current contract price only reflects allergy to taking delivery. Maybe we can use whether front month expired after breaching zero as some sort of reverse canary in the coal mine that crude will become a healthier commodity.
     
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  8. rando

    rando Member

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    I'm guessing that big red bar is a bunch of people getting hosed on taking delivery? There are some old timers that could give the really good long explanation... .
     
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  9. Nathan Alexander Black

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    So... with negative prices I would earn money if I buy it? That's new, I like it.
     
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  10. stock1234

    stock1234 2017 Stockaholics Contest Winner

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    Meanwhile natural gas is having a good day with oil struggling :eek: Too bad I sold COG long time ago :p
     
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  11. Venom08

    Venom08 Active Member

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    Targeting 15800-17800 for the low on the DJIA. Will leverage up to my gills in calls and longs at that point.
    The crash should be swift, and be hit by the first week of May.
     
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  12. Vdubman

    Vdubman Active Member

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    My opinion was 15500-16000 that would put us at 50% drop from highs. I don’t think it will reach there now unless someone pulls the rug. I’m now adjusting to the 18k level because that’s where trump came in last time.
     
  13. Venom08

    Venom08 Active Member

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    Yeah, 50% declines are not out of the norm during crashes like this. This reminds me of 1987 somewhat.
     
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  14. T-Coonazz

    T-Coonazz Member

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    A lot of people around my area wanted to know how to buy oil commodity while it`s cheap and hold it until the prices come up. And it could be a good while, but there willing to wait. I didn`t recommend USO or any of the other ETF out there. I telll them if they they are willing to risk a Bankruptcy, they could buy oil field service companies. Any other ideas?
     
    #34 T-Coonazz, Apr 20, 2020
    Last edited: Apr 21, 2020
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  15. bigbear0083

    bigbear0083 Content Manager
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  16. Vdubman

    Vdubman Active Member

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    Timmmmmmmbbbbbbeeerrrrrrrrr

    $14 June oil
     
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  17. moss_sumit

    moss_sumit Member

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    What's a good way to play Oil? USO, DBO or something else?
     
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  18. bigbear0083

    bigbear0083 Content Manager
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    Not Your Typical Tuesday. Or Is It?
    Tue, Apr 21, 2020

    While every other day of the week has seen multiple gaps down of more than 1.5% since the peak in February, today is the first time in that span that there will be a gap down of more than 1.5% on a Tuesday. Given the lack of big gaps down, Tuesdays have also seen the strongest average return of any weekday so far in 2020. While every other day of the week has averaged declines, Tuesday has seen an average gain of 1.16%. That's quite a disparity!

    [​IMG]

    While average returns for Tuesday relative to other weekdays have been stellar, it doesn't tell the whole story. The table below shows the S&P 500's daily returns so far in 2020. Looking at the individual occurrences, Tuesdays have actually been up days less than half of the time. If it wasn't for three strong Tuesdays in the month of March, returns for the second trading day of the week wouldn't be nearly as positive.

    [​IMG]

    Looking at median returns instead of averages shows how Tuesdays haven't been nearly as strong as they seem. Looked at this way, Tuesday's median decline of 0.15% ranks right in the middle of the pack behind gains for Thursday and Wednesday but well ahead of the 0.33% decline for Mondays and the 0.82% decline on "Corona Fridays". Outside of a couple of outliers, Fridays have not been a good day for equities this year.

    [​IMG]
     
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  19. Vdubman

    Vdubman Active Member

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    Crude nearing critical Saudi profit break even levels of $12
     
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  20. stock1234

    stock1234 2017 Stockaholics Contest Winner

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    Looks like USO is halted :eek: Bought a little bit of CVX and hoping a little bit of a bounce for crude :p
     
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