Is the stock market going to tank?

**roverdoc** · 06-11-2020, 06:25 PM

Fingers crossed we get another healthy dip for more buying opportunities for the long outlook!

**pureantigravity** · 06-11-2020, 07:13 PM

What makes for a healthy dip?

**grapedrink** · 06-11-2020, 07:15 PM

Originally Posted by Benny Profane

Well, if you look at a graph of post '29, and accept we're in something similar, which is possible, someday you'll be fantasizing about 18,000.

i wouldn't bet on it

**BobMc** · 06-11-2020, 07:18 PM

I took a hair cut the last couple days on my sports betting. Still up pretty well but no longer doubled, heh. I’ve taken to waking up around 4 to check the before market, saw Carnival and everything else was headed down. I put in a stop but apparently my account doesn’t apply to sells pre market. Panic sold it for 17 and change sitting on the shitter at 7:30 this morning. Got to work and watched it move back to 18, fml. Watched it all day, creeped back down to my sell price and I re-bought. Heh, no harm no foul on my panic.

After hours today pretty much everything I lost on today gained back some ground. I wouldn’t be surprised to see a rally tomorrow.

**Benny Profane** · 06-11-2020, 07:35 PM

Originally Posted by grapedrink

i wouldn't bet on it

Futures up. Who knows.

Who's the mark?

**pureantigravity** · 06-11-2020, 08:14 PM

Originally Posted by bennymac

Collapse of Quadriga crypto exchange was a result of fraud, says OSC
- June 11, 2020

https://ca.finance.yahoo.com/news/co...165228212.html

Quadriga sought creditor protection in 2019 after users reported roughly $190 million in missing cryptocurrency and 30-year-old Cotten died on his honeymoon in India, while holding all of Quadriga's passwords.

The OSC said it would have liked to pursue an enforcement action against Cotten and Quadriga, but because Quadriga is bankrupt and Cotten has died, it's "not practical."

If he died. There was an appeal to have his body exhumed. Not sure what ever came of that.

"On Thursday, the OSC attributed about $115 million of the $169 million clients lost to Cotten's "fraudulent" trading."
So where was it lost to?

**k2skier112** · 06-11-2020, 08:36 PM

Originally Posted by roverdoc

Fingers crossed we get another healthy dip for more buying opportunities for the long outlook!

This is what I'm hoping for. We have some cash ready to fund something and hoping we didn't miss the low point

**BobMc** · 06-11-2020, 08:51 PM

I’m hoping for a not heavy dip. Those points are retirement accounts for quite a few Americans. I don’t really have shit invested, I’d rather see people be able to retire than me make a quick profit.

I think there’s still plenty of stuff to squeeze. Oil stocks are still down a fair amount, every bit of spare cash I’ve had in my account I’ve been throwing at XOM, all of them seem ripe for the picking. Travel shit took a big hit today, if you don’t mind waiting there are plenty of bargains. RCL was trading at 130 in January, you can buy that shit for around 50 now. Sure, they won’t be back to that for a while but there’s a lot of cash to be made there. Retail is still way down and will probably come back quicker than travel.

Buy you some shit and see what happens.

**Benny Profane** · 06-11-2020, 09:33 PM

I'm surprised that you dont want cheap assets to buy if you're young. The Boomers have driven up the price of RE and stocks. You ain't going to be able to retire if you're buying both at these levels at a young age.

**stradissimo** · 06-11-2020, 10:15 PM

That’s an interesting take on Chick-fil-A being closed on Sundays.

**LeeLau** · 06-11-2020, 11:29 PM

Originally Posted by BobMc

Those points are retirement accounts for quite a few Americans. I don’t really have shit invested, I’d rather see people be able to retire than me make a quick profit.

Fuck that shit Bob. Market takes no prisoners. Want retirement. Buy something safe. You just mentioned XOM. Someone could buy that or ETFs or TIPS or whatever and not blink an eye on market upturns/downturns. Markets should (and do) slip the throbbing dildo to whoever is dumb enough to put retirement funds into investments that are subject to that much volatility

Originally Posted by BobMc

I think there’s still plenty of stuff to squeeze. Oil stocks are still down a fair amount, every bit of spare cash I’ve had in my account I’ve been throwing at XOM, all of them seem ripe for the picking. Travel shit took a big hit today, if you don’t mind waiting there are plenty of bargains. RCL was trading at 130 in January, you can buy that shit for around 50 now. Sure, they won’t be back to that for a while but there’s a lot of cash to be made there. Retail is still way down and will probably come back quicker than travel.

Buy you some shit and see what happens.

I like XOM. A lot.

As for CCL - you just did the "shaking out the weak hands" bit but recovered. I'm still in avg cost of 12.66 with buys at 10 to 8. Still not optimistic I'll get those. I do like LUV on the travel side. And perhaps ALK. But I would have liked to been buying at much lower prices. See LTMQ for the risk profile on those kinds of bet.

Addings SUNS and MRCC to the list of high-yields perhaps worth cherrypicking. They're along the lines of SLRC that I picked up a while back and that 4matic said was a boring dog (can't disagree with that summary actually)

Added some CMCM and hedged with 3er puts

**roverdoc** · 06-12-2020, 12:13 AM

Futures are up. Still holding out for more of a correction. Dips 10%, pushing cash in, dips 20%, pushing half of my sideline cash in, dips 30%....all in.

**rod9301** · 06-12-2020, 12:17 AM

Originally Posted by BobMc

I’m hoping for a not heavy dip. Those points are retirement accounts for quite a few Americans. I don’t really have shit invested, I’d rather see people be able to retire than me make a quick profit.

I think there’s still plenty of stuff to squeeze. Oil stocks are still down a fair amount, every bit of spare cash I’ve had in my account I’ve been throwing at XOM, all of them seem ripe for the picking. Travel shit took a big hit today, if you don’t mind waiting there are plenty of bargains. RCL was trading at 130 in January, you can buy that shit for around 50 now. Sure, they won’t be back to that for a while but there’s a lot of cash to be made there. Retail is still way down and will probably come back quicker than travel.

Buy you some shit and see what happens.

Either way it's bad for retirees.

If the market doesn't fall, returns will be really shitty

Sent from my Redmi Note 8 Pro using Tapatalk

**liv2ski** · 06-12-2020, 06:31 AM

Originally Posted by Benny Profane

I don't think there's a "long haul" for a while. If history is any indication, there should be another bump sometime soon. On the way down.

I don't know shit about the markets anymore, I gave up in 2000, but from my basic Econ 101 education, what the FED is doing SHOULD end in a lot of tears and lost wealth. I think there is a good chance the whole house of cards collapses at some point, as in real wrath of god shit. I just hope I am 100% wrong.

**ICantLogIn** · 06-12-2020, 07:11 AM

WTF HTZ you are going bankrupt sell your fleet go down like you're supposed to.

**Timberridge** · 06-12-2020, 07:24 AM

Did everyone buy the dip yesterday?

**liv2ski** · 06-12-2020, 08:32 AM

Originally Posted by Timberridge

Did everyone buy the dip yesterday?

errr not in N.A. but those pesky Chinese grandma's did and they are laughing today.

**billyk** · 06-12-2020, 08:38 AM

Originally Posted by Timberridge

Did everyone buy the dip yesterday?

I actually did buy a small number of shares yesterday - and then pissed my pants as the drop continued.

**Toadman** · 06-12-2020, 08:53 AM

It's a roller coaster ride, baby!

**LeeLau** · 06-12-2020, 08:57 AM

Originally Posted by ICantLogIn

WTF HTZ you are going bankrupt sell your fleet go down like you're supposed to.

There are now HTZ borrows. Not even that high a rate charged. Hedged with calls

**dunfree** · 06-12-2020, 09:01 AM

HTZ issuing $1 billion in new equity that will be cancelled is mind blowing.

**mcsquared** · 06-12-2020, 09:20 AM

*sound of air leaving a balloon*

**jono** · 06-12-2020, 09:21 AM

I feel like the time to short HTZ is the next ~4 hours. If the judge says yes it's diluted and if she says no it's probably because she's convinced it zeroes...or does that just drive it higher?

**LeeLau** · 06-12-2020, 09:26 AM

Originally Posted by jono

I feel like the time to short HTZ is the next ~4 hours. If the judge says yes it's diluted and if she says no it's probably because she's convinced it zeroes...or does that just drive it higher?

You're thinking logically and there's no logic to this hence the necessity IMO of hedging

The next inflection point is a delist with HTZ going to the pinks ( many retail accounts restrict buying on the pinks or raise margin requirements).

It takes time in Ch 11 proceedings to sort out competing claims and obtain necessary court orders that crystallize the inevitability of equity going to zero. Sometimes it can take years. For example old GM shares are still in a pink sheet trust.and trading only on participation in class action settlement proceeds but otherwise are zero

**4matic** · 06-12-2020, 09:29 AM

If there is follow through downside momentum 2400 was the pivot in March. That's where most of the derivative trade was. Dax turned negative going into the close so a reversal into a Friday close ahead of a quarterly expiration is important.

The last 10% of the recent rally was fueled by a weaker dollar. I'd watch currency for a clue to direction. If the dollar starts to strengthen again it will be a headwind for the indexes, especially the IWM. The big move in IWM since late may is almost all due to a weaker dollar.