Who is buying storks today?

What did you buy and why?

I bought spy calls and puts lol

I think I’ll be ok

Someone wanna talk about amd tho

Oil price -4,7% at the moment. What's next?

More travel bans -> oil price crashes even more -> US shale oil industry crash?

Most shale companies will go down but will be bought by the bigger fish after layoffs. It's an industry that can reboot fairly easily as the supply chain ain't that big. Oil price would have to go back up for that to happen.

Another bloody day it seems. Futures tanking, I think I might see my position head towards 2017 levels. Oh well.

Not noticing much at the gas station here. Maybe a 5% drop.

-edit- VIX at +16% premarket, mama mia.

This post was edited by balrog66 on Mar 12 2020 02:47am

I read that shale oil needs an oil price of at least 50 bucks a barrel to be profitable. It's not a supply chain issue, shale oil is complicated / more expensive to produce

2nd lower set of limit buys going to hit at this rate.

This post was edited by obisent on Mar 12 2020 06:56am

BTC dropped out of the sky 20% down to 6K

with corona, people being cash tight, and halving on the horizon this is gonna be a hell of a ride down. we might legit see 4k pricing on BTC as a floor. holy fuck.

When you realize that less than 1/10000 of the developed countries population have been infected.
1.5B / 150k

trillions of wealth wiped out all over the world

People talk about how the virus is super dangerous and we should do everything to stop it. Closures, travel bans, etc. But do people care or understand the long term economic ramifications of doing so?

You have millions of people with pensions close to retirement or are retired that just got a significant shave. Even if you're holding bonds, yields have plummeted. If i was 55+ i'd be really concerned with this more so than the virus imo. A normal middle class family in their 50s or 60s probably just got a 200-300k shave in their portfolio over the span of two months.

So now if you were expecting a fixed draw down of lets say 5k a month from your portfolio, you now have to revise that down to like 4 k and hope it works.

SPY hit the circuit breaker again. In this tempo the markets will bottom out pretty dang fast.