Quite the day

[SharperDingaan]

The Dow Jones made history today, recording its largest 1-day drop ever, 1,191 points.

The same day the Toronto Stock Exchange had to execute a circuit-break, and shut down early ... as sell orders overwhelmed the buys.

 

What do you think happens when more Corona cases get reported tomorrow?

And when it emerges that it is now in the US, and well beyond the 15 currently being reported?

As apparently only the Chinese hide the numbers .... the US and Europe does not  :o

 

SD

 

[Viking]

Also, who is going to want to be holdings stocks going into the weekend? Tomorrow could be another very interesting day. I wonder when global central banks get more visible...  Markets seem to be on a one way train right now. Confidence is a very fragile thing.

[TwoCitiesCapital]

Also, who is going to want to be holdings stocks going into the weekend? Tomorrow could be another very interesting day. I wonder when global central banks get more visible...  Markets seem to be on a one way train right now. Confidence is a very fragile thing.

 

Shocking how quick this all happened. The first couple of days made sense just given how far we'd come and how quickly but I thought we'd at least bounce on the 200 DMA.

 

We blew right through it and kept going...

 

Does make me think it's a bit overdone, but might be another day or two for the much awaited relief bounce.

[Guest cherzeca]

fear is your friend if you have cash

[Gregmal]

Well, futures are already down about 1%, so looks like we keep on rolling, tomorrow into the weekend.

 

At some point, rates will definitely get cut. Perhaps some more QE. And hey, maybe Berkshire makes some moves! Anyway, we've seen this movie before. No need to scream for the 1000th time when the scary guy in the mask pops out.

[Viking]

fear is your friend if you have cash

 

Agreed. The challenge is when (and what) to buy. Good problem to have.

[fareastwarriors]

QE infinity!

[Cardboard]

Copper is still at $2.56/pound.

 

If there is one good economic indicator that is.

 

Some personal experience, China activity is returned to 80% in my field. There has been some delays in shipment and manufacturing but, it is much less than initially feared. Call it two weeks behind schedule on 2-4 months lead items.

 

These guys are disciplined and obey which will be a problem elsewhere but, I agree with Buffet: this looks like a buying opportunity.

 

Of course there are these crazy stocks like Tesla and other momo garbage that has been peddled by many here which need to come down significantly in price.

 

My view is that this could be the catalyst for a shift or more at home development by China, India and many developing countries and less reliance on global trade. Emerging markets have been weak for a very long time and we could see some green shoots.

[Guest cherzeca]

fear is your friend if you have cash

 

Agreed. The challenge is when (and what) to buy. Good problem to have.

 

I just edge into it, might make 4-8 buys once I know what my cumulative buy should be.  no need to find bottom.  In a shit its fan scenario, I just buy spy

[Broeb22]

I gotta say that it is so much more enjoyable to be investing during times like this when I can rely on my own more Stoic view of the world. It is way better than at my previous employer where despite all the marketing bullshit about investing for the long term and the benefits of being away from the noise, on days like today, the office was a complete shitstorm and my prior manager created an immense amount of stress for no reason.

 

We also were buying stocks we had only taken cursory looks at. Very little use of a watchlist of well-researched companies, again, despite the actual existence of a watchlist which we talked about with clients and in letters, but in practice rarely used in structuring our day-to-day work.

 

Good riddance to that bullshit.