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FireWeatherMet
Well-known member
Yup.
Was thinking that also...since we already were into the longest Bull Market on record (11 years).
Not quite. We’re at 19%. Has to be 20. I’d say we’ll trade in a range for now with a bounce tomorrow.
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wavecoder
Active member
Likely a bounce, but I don't see a sustained one unless we see some strength from XLF. The S&P can't do it without the financials. I'll be watching them close
bmneveu
Well-known member
And it certainly isn't going to come from energy or transports, right?
k0nkuzh0n
Well-known member
Think that candle was completely formed in the first 5 minutes, and then it was pretty flat the rest of the day
Look at the move in the dollar today...
bmneveu
Well-known member
Looks like a single trade at 9:50am. Some poor soul fat fingered a trade for 24.xx instead of 25.xx. Ouch.
fedgolfer
Well-known member
Thoughts on this oil price war? I think regardless of who precipitated this (Russia, Saudis, or both), it's not to really to undercut one another ultimately. It's to deliver a huge blow to the US shale market. As shale is more expensive to produce than traditional oil, shale prices can't compete with that 20% cut. This will no doubt crush those US companies involved in shale production.
fedgolfer
Well-known member
this will snowball big time. Aside from the obvious negative impact on GDP, on the speculative side -- trade wars and other commodity price wars, plus gov't bailouts to keep the US shale businesses stable.
bmneveu
Well-known member
Someone said on the news the Saudis and Russia had a meeting this weekend and it didn't go well. Saudis then decided to cut their price lower to put pressure on Russia.
James48843
Well-known member
If I were in the CIA and I were to wager, I'd put money on the Russian oligarchs. They clearly have an incentive to blow the US (and Canadian) Shale Oil companies up into bankrupt little piles of rubbish. That way, they can drop the price of oil for a short period, blow all these western companies away, and then, when shale oil is no longer being produced, can suddenly jack the price back up and make a killing.
fedgolfer
Well-known member
Yup. Wouldn't be surprised to see an 25% tariff on all Saudi and Russian oil... or at least hear rumblings of it. US shale companies need to hold on for 6 months or more while they don't move supply.
k0nkuzh0n
Well-known member
Airlines cutting flights.
Delta announced 20-25% internationally and 10-15% domestically
https://www.barrons.com/articles/de...onavirus-cutting-flights-capacity-51583845647
FAAM
Active member
AGREE ... my concern too. WAZZUP With THAT? TSP I'm 26% F & the rest in G, and some Bond and Precious Metal ETFs on the side... pretty much taking some pounding in those the last couple days even when there are big drops in equity funds. Somebody gotta be putting their money somewhere (the banks?). Hmmmmm.....
DreamboatAnnie
Well-known member
Hummm… maybe they're putting it under their mattress!!!
blueroadster
Member
Yikes...Selling is continuing to accelerate and the 50 day will soon be crossing down under the 200 day.
James48843
Well-known member
It’s really getting ugly.
Stocks - Dow futures as of 11:00 pm- down over -4.3%.
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