nuts indeed, we just took out the 2003 low now, and are getting into late 2002 levels here...unless we get some crazy news that reveres this, we could be looking at high teens soon
kroger and walmart have been killing it lately. in the stock market and in the stores lol. i just went into kroger, so many empty shelves
@OldFart if this keeps up i think i may be ready for another road trip with the hummer soon well, that's after we're done with this corona nonsense
Folks, we're mach speed flying past recession and into depression globally to include the USA. Republicans in congress voting (or even considering voting) to send cash money to citizens and waiving health care costs should be a massive data point that society has (or WILL I suspect) face extraordinary change.
it's funny listening to the shadowtrader guy on tos right now, he's dumbfounded that there's "no news" to account for the drop down to new RTH lows in the futures, but i think it's pretty obvious that it's because of crude crashing right now, and looking like it maybe wants to even print into the $22s today ... yikes!
ok, last update on the crude here (sorry everyone!) but i do feel like this in fact the "tail wagging the dog" here, but /cl just a stone's throw from breaching that $23 handle here
forgot to post this in here yesterday, but here's the visuals of that 4% (+/-) streak on the SPX which we broke yesterday, and looking like we'll do it again today
who is behind this fall? saudi arabia ? trying to pull the carpet to iran, russia and shale oil producers? also may solve venezuela problem ...
CCL at 8 dollar!>!?!?!?? yoooo, dam, hmmmmm. can they really go bankrupt? the stock is trading like they can lol. im very tempted right here, idk lol.
Here's an over-simplified version of what's going on: There's a worldwide glut of oil thanks to declining demand thanks to COVID-19. SA and the Peninsula Emirates said they'd lower production if Russia did. Even though Russia is selling below their breakeven, their economy is dependent on a certain amount of cash generated from oil and refused to curtail production. So Arabian Peninsula said they would not curtail production as well. High stocks, high production is now resulting in price collapse. Reserves and tank farms are getting filled faster than they are being depleted. It's a catch-22 though: We need to solve the glut to bring prices back up by getting everybody to shut down (or severely curtail) production. The very real concern is that once that happens, prices do not recover fast enough and the reserves will get depleted. The conventional thinking is that without oil prices returning to at least the mid-30s, there will be no incentive to crank up production again. But conventional thinking might take a back seat to these developing events.
holy RYFOR dollar batman. i'm not really much of a "forex" guy here, but has anyone ever recalled seeing a 1-day move in the dxy quite like this one?
I'm with ya the same. Never currency traded, but have always tracked currencies given my international travel lifestyle. And I am floored by the money pouring into USD. Not surprised, though. Anybody invested in EM (emerging markets) will take a huge hit.
testing the opening gap down lod on the /es here which is flirting with the level 1 circuit breaker halt (-7%) for the cash SPX. currently at -6.50% atm.
