Coronavirus Stock Market buy off.

[Ricboff]

'it likely is going to make a decisive move. There was a MASSIVE fuckin dark pool print late last week, 5 mill shares went off at about $25.60ish'

..........................


ther r traders that literally just trade massive dark trade prints coupled with TA. WFC shitting the bed, gap down abd selling . Keep in mind the market isnt rollin over. It BROKE the double bottom it was trying to form.

 

[Ricboff]

2930 on the ES if can be maintained , real good for the bulls . Some negative divergences r forming , making green light challenging . Need greater market breadth, the banks r hanging on despite WFC. Canadian banks really looking good for a short term bounce , gotta hold come 3:55pm , esp RY

 

[snoop]

Index is off session low. Finance is having a bloodbath.

CA/CO/TX/IL (assuming more states will follow) is suing big banks regarding how they handle PPP loans.

 

[PatsFan1283]

Next stimulus going to be a battle, can't just print one of those every month so this next 1 may be the last one until the fall.

I think constant monetary/fiscal injections are the new normal though. That was the case even before COVID really.

 

[Ricboff]

gap fill in progress, 220 new floor


QQQ

6 mth daily

......pandemic?......recession?...........where?.......................:nohead:. Nuttville

 

[Ricboff]

BlackRock CEO Warns of Bankruptcies, Surging Taxes, and Lasting Scars From Covid Lockdown


The era of coronavirus has already been hard on the American psyche, but the chief executive of the world’s largest asset manager cautions that everyone should brace for even rougher days ahead as the U.S. attempts to emerge from the worst public-health crisis in more than a century.
BlackRock (ticker: BLK) CEO Larry Fink forecast a dour near-term outlook for the economy as states and businesses grapple with reopening from Covid-19 lockdowns that have likely driven the U.S., and the rest of the world, into a deep recession, according to a report from Bloomberg News.


Fink warned that even as that brutal scenario plays out, taxes on corporations and individuals would eventually need to be raised to finance the trillions of dollars in economic aid that has been doled out by the government and the Federal Reserve to dampen the immediate financial harm wrought by efforts to mitigate the viral outbreak.
Fink’s bona fides on Wall Street are sufficient to make the forecast chilling enough, but Bloomberg notes that the CEO also is advising President Donald Trump on the U.S.’s response to the pandemic, and the executive’s asset-management firm is helping the Fed to steady financial markets that were reeling back in March as the scope and severity of the potentially fatal virus were made clear.
The hardships endured here may result in a rise in nationalism, Fink also warned, perhaps fueling geopolitical tensions. Other experts worry that the aftermath of the disease might see the divide between the wealthy and the poor widen domestically and elsewhere.

The U.S. economy already has suffered historic weakness, and at an unprecedented clip, with the outbreak leading to the biggest drop in gross domestic product in the first quarter since 2008. Indeed, the first reading of GDP for the first three months of 2020, the official scorecard for economic growth, shrank at a 4.8% annualized pace.

.............

u mean money doesnt grow on trees?

 

[Michelangelo]

BlackRock CEO Warns of Bankruptcies, Surging Taxes, and Lasting Scars From Covid Lockdown


The era of coronavirus has already been hard on the American psyche, but the chief executive of the world’s largest asset manager cautions that everyone should brace for even rougher days ahead as the U.S. attempts to emerge from the worst public-health crisis in more than a century.
BlackRock (ticker: BLK) CEO Larry Fink forecast a dour near-term outlook for the economy as states and businesses grapple with reopening from Covid-19 lockdowns that have likely driven the U.S., and the rest of the world, into a deep recession, according to a report from Bloomberg News.


Fink warned that even as that brutal scenario plays out, taxes on corporations and individuals would eventually need to be raised to finance the trillions of dollars in economic aid that has been doled out by the government and the Federal Reserve to dampen the immediate financial harm wrought by efforts to mitigate the viral outbreak.
Fink’s bona fides on Wall Street are sufficient to make the forecast chilling enough, but Bloomberg notes that the CEO also is advising President Donald Trump on the U.S.’s response to the pandemic, and the executive’s asset-management firm is helping the Fed to steady financial markets that were reeling back in March as the scope and severity of the potentially fatal virus were made clear.
The hardships endured here may result in a rise in nationalism, Fink also warned, perhaps fueling geopolitical tensions. Other experts worry that the aftermath of the disease might see the divide between the wealthy and the poor widen domestically and elsewhere.

The U.S. economy already has suffered historic weakness, and at an unprecedented clip, with the outbreak leading to the biggest drop in gross domestic product in the first quarter since 2008. Indeed, the first reading of GDP for the first three months of 2020, the official scorecard for economic growth, shrank at a 4.8% annualized pace.

.............

u mean money doesnt grow on trees?

No shit. Why didn't you get this message to the policymakers two months ago, Mr Blackrock?

 

[NorthernStar]

Why even bother collecting taxes......just print more money.

I dont think the bailout is going to work. About 1/10 small business owners received the money. The bigger banks went and got their biggest customers the loans. So far about 95% of the money has gone to wall street not main street.

There in lies the problem. The wealth gap will definitely widen. So pour a ton of money into the economy that basically props the market. NASDAQ is where it was on Jan 1. Are you kidding me? This is where the disconnect between wall street and main street is the most obvious. All those with stocks have suffered almost no pain.

So lets say for example 10 small business owner's did get $50,000 each. Those that were the strongest and best managed will survive...maybe 2,3 or 4 of them. The weakest and most leveraged will still fail and we wasted $50,000 and just delayed the inevitable. Those that survived will pick up business of those that didnt make it and will be more profitable.

I think giving the money to citizen would have been a much better plan. They will spend it and drive the success to the companies that make products they want. Instead we helped Wall Street.

The unemployment gap between college educated and non-college educated is huge. Another example of how this plays out.

I guess in life and in sports you find me rooting for the underdog. This one is not going to play out well for the underdogs.

 

[Ricboff]

NS, hope all is well

further erosion of the middle class, should be of no surprise to anyone. Gettin' all ready for the new business compliance/regulations. the little bug is running the show

TREMENDOUS theme song....and a hell of a flop shot......the two KINGS of THE Game shaking hands at 1:35 mark

 

[Michelangelo]

Added:

AYX
HD more

sold SBUX

yesterday

 

[Bruins4Life]

Picking up some pure Silver bars tmrw.
I passed up gold bars5 or 6 weeks ago. Could have made made 25% as the demand for actual bars is high.

 

[Ricboff]

today was very violent. Pullback to 2885-2855 then move up was a scenario , blew through that! IF if cant hold 2824ish for most of the day tomorrow (or overnight), then 2778ish is in play , whihc is another 1.8% fall (from 2824). Futures trading is open of course, as i posted #886 :
'2778-2965 is sideways action, oscillating, wide wide trading range'


stocks move laregly with the market. So getting market direction right is important. HUGE spike in the VIX today, whoa

 

[Ricboff]

click '1H' (this the HOURLY chart), then the full screen button (the farthest button to the right, on that same line). from this full screen mode we can see how its trying to form a double bottom and how important 2824ish indeed is

https://www.investing.com/indices/us-spx-500-futures-streaming-chart

 

[PatsFan1283]

No shit. Why didn't you get this message to the policymakers two months ago, Mr Blackrock?

It has been a rough 2 months but that cracked me up when Seldomseen said the CEO of his company told them that this economic shock would be worse than 9/11 or Katrina. That's just a vintage useless corporate suit statement.

 

[Ricboff]

fun fact;

owning the market from the CLOSE to the OPEN (or overnight) has performed MASSIVELY better than during the day , that is overnight vs day session

for IWM (small caps ) , its quite stunning. not includuing dividends and since 2000 . here r the returns

owning at the close to the open : + 702%

owning during the day (buy at the open , sell at the close): -53%

 

[snoop]

Don't be greedy fellas. It's time to take the profit off the table. Bank stocks are rolling over is a really bad sign for the bulls.

Also, Trump is playing his old tricks from now until the election. His usual targets is China/the Fed, that adds another layer of uncertainty to the market. Unlike the last two years, the Fed toolbox is rather depleted. Trump attacking the Fed would have a net negative to the market.

 

[Ricboff]

yeah, the qqq giants can carry only so much, 2778 is an important hold. The chart is clear

powell speaks at 9 am. USD likely to move depending on his words. . Metals to move accordingly,.... usd weakening in anticipation . I dont think he affirms negative interest rate policy. The futures r waiting...

 

[Ricboff]

no idea what he is saying, but am assuming he hasnt taken further stuimulus off the table as he hasnt broken the market, choosing words carefully .. ...yet. Gold likes what he is saying, lol. wild action

 

[rolltide]

crazy news out of norway today. they were using the oil industry to prop up their socialist nanny state and now they're completely fucked. they have cut their losses today and withdrew nearly $40B out of the world's largely wealth fund as they're desperately in need of cash

 

[snoop]

Powell wants more 'print-n-spend'.
Trump wants negative interest rates.

These two always at odd with each other, they're never seem to be on the same page.