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Stock Market Today: February 24th - 28th, 2020

Discussion in 'Stock Market Today' started by bigbear0083, Feb 21, 2020.

  1. bigbear0083

    bigbear0083 Content Manager
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    yessir! same goes for the SPX as well actually (point basis that is). not sure about the nazzy though, could be as well i'll check!
     
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  2. stock1234

    stock1234 2017 Stockaholics Contest Winner

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    SPY down another 0.6% AH :eek:
     
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  3. StockJock-e

    StockJock-e Brew Master
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    200dma still a ways off, but this kind of panic dumps will lead to a bounce on Monday IMO
     
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  4. stock1234

    stock1234 2017 Stockaholics Contest Winner

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    Just saw a headlines saying that it took us just 6 days for the market to reach correction and it is the fastest in history :eek:
     
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  5. bigbear0083

    bigbear0083 Content Manager
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  6. OldFart

    OldFart Well-Known Member

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    Made in Wuhan?...
     
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  7. T0rm3nted

    T0rm3nted Moderator
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    That's kind of eery
     
  8. OldFart

    OldFart Well-Known Member

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    More BS panic headlines on CNBC:

    cnbc_bs.png
     
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  9. Three Eyes

    Three Eyes 2018 Stockaholics Contest Winner

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    I'm betting the 400 point drop in the headline is the fair value futures. Fair Value is the implied price of the futures contract based on the current cash price and the cost of carry. Fair value was a tad over -600 a few minutes ago.
     
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  10. OldFart

    OldFart Well-Known Member

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    right now we're at -560 on the DOW, and their headlines say "-700"...so they are trying to help create the panic
     
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  11. bigbear0083

    bigbear0083 Content Manager
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    looks like we gap down bigly on this open, but i will be very surprised if it is a gap and go type of situation here.

    market is getting into extreme oversold territory on a very short term basis here.

    yes, markets were hella overbought just a few weeks back, but nothing goes up or down in a straight line forever.

    this morning could be the so-called "capitulation" or "wash out" or whatever you wanna call it.

    i'm thinking we see a really nice bounce off this morning's low, just my worthless 2c. carry on! :p
     
  12. OldFart

    OldFart Well-Known Member

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  13. T0rm3nted

    T0rm3nted Moderator
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    This said -0.5% when I checked it like 1.5 hours ago.

    upload_2020-2-28_8-24-25.png
     
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  14. bigbear0083

    bigbear0083 Content Manager
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    this move is way overdone imo. i get it that covid-19 is a major concern, but not sure if it's crashy worthy (yet) :p
     
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  15. T0rm3nted

    T0rm3nted Moderator
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    I haven't done a ton of research, but I believe the flu has like a 0.1% mortality rate, and covid-19 is like 2-3% mortality rate. So by the numbers, the flu appears more deadly last year, but as this thing starts hitting new countries, losing 2-3% of the population could be huge...

    Again, not a scientist or doctor and haven't done a ton of research, just a little so take that with a grain of salt.
     
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  16. OldFart

    OldFart Well-Known Member

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    Yes, but we're better prepared for it. Most countries have limited travel to infected areas, and quarantining is also taking affect.
    It's def not over by any means, but containment is the key here.

    I do fear for small children and older adults. Also people with deficient immune systems.

    Hopefully we can stop this thing before it gets worse.
     
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  17. OldFart

    OldFart Well-Known Member

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    options premiums are INSANE right now.

    SPY options are about the price of normal market SPX options :eek:
     
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  18. OldFart

    OldFart Well-Known Member

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    what's the deal?...

    stock.jpg
     
  19. stock1234

    stock1234 2017 Stockaholics Contest Winner

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    Good call Cy, BTFD might finally be working today :eek: :p
     
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  20. stock1234

    stock1234 2017 Stockaholics Contest Winner

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    The NASDAQ actually turned green for a moment I believe :eek:
     

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