Dow Futures down 4%

[Foreign Tuffett]

As soon as the market closes I am going to go get a teardrop tattooed under my left eye. It's the only responsible, mature course of action to take in light of today's market action.

Why not open a fine bottle of red and have a glass? Tis the way of the warrior.

 

I think better to deface my face, but thank you for your suggestion

[DooDiligence]

As soon as the market closes I am going to go get a teardrop tattooed under my left eye. It's the only responsible, mature course of action to take in light of today's market action.

 

Gangsta

[Jurgis]

As soon as the market closes I am going to go get a teardrop tattooed under my left eye. It's the only responsible, mature course of action to take in light of today's market action.

 

I can start showing my "Dow 20K" tattoo from 2000 again.

[maxthetrade]

As soon as the market closes I am going to go get a teardrop tattooed under my left eye. It's the only responsible, mature course of action to take in light of today's market action.

Why not open a fine bottle of red and have a glass? Tis the way of the warrior.

 

Hehe, exactly what I did today. And I thought it was only appropriate to open a good Chianti ;-)

[Spekulatius]

As soon as the market closes I am going to go get a teardrop tattooed under my left eye. It's the only responsible, mature course of action to take in light of today's market action.

Why not open a fine bottle of red and have a glass? Tis the way of the warrior.

 

Exactly. Think about this - you can tell your kids about it in a couple of years. Every generation should have their black Monday.

[petec]

As soon as the market closes I am going to go get a teardrop tattooed under my left eye. It's the only responsible, mature course of action to take in light of today's market action.

Why not open a fine bottle of red and have a glass? Tis the way of the warrior.

 

I'd go for champagne. I do love red screens.

[rb]

I'm out of champagne so I opened up a bottle of chateauneuf du pape.

 

The worrier must pace himself. Napoleon's soldiers received champagne when they returned home. Frankly this does not feel like the end.

 

Fully how this thread starts to mirror the what are you drinking thread.

 

[DooDiligence]

 

 

What if it goes down 2,000 points in 20 minutes?

Tickling match?

 

I’m OK with the drop if that’s what it takes to get rid of this douchenozzle.

 

  ____________________________________
|                                    |
|            Biden 2020              |
|  It's Time For A New Douchenozzle  | 
|                                    |
|____________________________________|

 

Pretty much, yep.

 

He's definitely not my 1st choice but at least it won't be Sanders or Warren.

[Spekulatius]

 

 

What if it goes down 2,000 points in 20 minutes?

Tickling match?

 

I’m OK with the drop if that’s what it takes to get rid of this douchenozzle.

 

  ____________________________________
|                                    |
|            Biden 2020              |
|  It's Time For A New Douchenozzle  | 
|                                    |
|____________________________________|

 

Pretty much, yep.

 

He's definitely not my 1st choice but at least it won't be Sanders or Warren.

 

I don’t know, socialism looks better by the day. How about “Free testing for all !”as campaign slogan?

[DooDiligence]

 

 

What if it goes down 2,000 points in 20 minutes?

Tickling match?

 

I’m OK with the drop if that’s what it takes to get rid of this douchenozzle.

 

  ____________________________________
|                                    |
|            Biden 2020              |
|  It's Time For A New Douchenozzle  | 
|                                    |
|____________________________________|

 

Pretty much, yep.

 

He's definitely not my 1st choice but at least it won't be Sanders or Warren.

 

I don’t know, socialism looks better by the day. How about “Free testing for all !”as campaign slogan?

 

Nah, just let this thing rip.

 

Give Darwin a chance to catch up.

 

FWIW, my 1st choice for POTUS is a ham sandwich on pumpernickel.

[rb]

Well that didn't last long.

[rkbabang]

Well that didn't last long.

 

Who doesn't love a roller coaster.  Wheeee!

[Gregmal]

Well that didn't last long.

 

Eh, I tried to learn a bit from the past two rallies and hedged a bit into the close. Monday-Tuesday still = lower low formations. Which could set up for an interesting finish to the week and another wahoo of a Monday. Who knows. Its been a roller coaster though.

[AzCactus]

So the interesting question is.....what happens Wednesday ?

[Spekulatius]

Well that didn't last long.

 

Who doesn't love a roller coaster.  Wheeee!

 

I think we get more bumps, These roller coaster always have straight stretches.

[Guest]

https://www.youtube.com/watch?v=du1ehAMuy9w

 

Dave Ramsey wants people to buy. He's says it's the best buying opportunity in 10 or 15 years. Buy, buy, buy!

 

This is a better buying opportunity than March of 2009 (or at least March of 2010!).

[TwoCitiesCapital]

https://www.youtube.com/watch?v=du1ehAMuy9w

 

Dave Ramsey wants people to buy. He's says it's the best buying opportunity in 10 or 15 years. Buy, buy, buy!

 

This is a better buying opportunity than March of 2009 (or at least March of 2010!).

 

Eh, this is why I've always disliked him. Everything he says is a gross oversimplification.

 

His comments about oil companies being around? Yes, maybe the specific ones he named but very many oil companies in general will NOT be if 2015/2016 is any guide.

 

His comments about Southwest airlines and the loss of market value versus riders totally ignores operating leverage and the negative impact an even modest drop in travel demand has on total profits for airlines. Further, his comments about Southwest dropping 30% and asking "is it really worth 30% less today?!?!" probably wasn't mirrored by a "is it really worth 30% more" following 2019s rally....

 

Further, is it really the best opportunity in 10 years? December 2017 was lower priced and we didn't have pandemic concerns or  dropping profits at that time.

 

December 2018 was lower priced and people were concerned about slowing global growth, but hadn't seen much a dramatic drop-off yet and still no pandemic concerns.

 

The fact of the matter is, after this drop, were still @ like 18-19x trailing earnings that are shrinking - with the potential to rapidly shrink in an actual recession. Hardly the best time in the last 10-15 years to buy and wholey irresponsible to characterize it as that for all of his listeners - particularly if we keep dropping from here.

[mcliu]

Probably another -30% (~2,000 S&P500) before things look attractive.

 

But it probably won't go that far. Just by the comments I've read on this forum, it sounds like everyone has cash..

[ERICOPOLY]

Have you looked at the Chinese and Italian stock markets to see how much of a dive they have taken since November when nobody had heard of COVAD-19?  Italy's market is down 25% over the past month which covers their history,  and China's is down by far less since early December.  Unless I am getting it very wrong due to exchange rates or something.

 

 

 

 

[bizaro86]

Have you looked at the Chinese and Italian stock markets to see how much of a dive they have taken since November when nobody had heard of COVAD-19?  Italy's market is down 25% over the past month which covers their history,  and China's is down by far less since early December.  Unless I am getting it very wrong due to exchange rates or something.

 

While that is a good point, as presumably the go forward economic effects are similar, I think the starting valuation matters as well. The US markets were considerably more euphoric than the Italian ones, so a larger fall doesn't necessarily seem disproportionate.

[ERICOPOLY]

Have you looked at the Chinese and Italian stock markets to see how much of a dive they have taken since November when nobody had heard of COVAD-19?  Italy's market is down 25% over the past month which covers their history,  and China's is down by far less since early December.  Unless I am getting it very wrong due to exchange rates or something.

 

While that is a good point, as presumably the go forward economic effects are similar, I think the starting valuation matters as well. The US markets were considerably more euphoric than the Italian ones, so a larger fall doesn't necessarily seem disproportionate.

 

I thought of that, but then which economy is more tolerant of shocks?  I thought the US had a stronger economy and that should count for something.

[wescobrk]

We are still only around 15% down.

More downside to go. At least another 10%.

[Spekulatius]

Have you looked at the Chinese and Italian stock markets to see how much of a dive they have taken since November when nobody had heard of COVAD-19?  Italy's market is down 25% over the past month which covers their history,  and China's is down by far less since early December.  Unless I am getting it very wrong due to exchange rates or something.

 

While that is a good point, as presumably the go forward economic effects are similar, I think the starting valuation matters as well. The US markets were considerably more euphoric than the Italian ones, so a larger fall doesn't necessarily seem disproportionate.

 

I thought of that, but then which economy is more tolerant of shocks?  I thought the US had a stronger economy and that should count for something.

 

A lot of the Italian companies aren’t really “Italian” , they operate Pan-European or even world wide. I bought bit of LEO.MI (Leonardo), which is a defense companies (and helicopters). Has a strong US business (DRS). European defense should do well, since government are practically to raise defense spending as % of GNP. LEonardo has one issues running the business (weak FCF) but that should be fixable.

 

Pirelli ( high end tires ) a bit similar. Quite cheap considering their almost best in class profit margins (close to Nokian) due to being mostly in the premium segment. This is a world wide operating company (albeit in a crummy sector currently) that just happens to be trading in Italy.

[thowed]

A lot of the Italian companies aren’t really “Italian” , they operate Pan-European or even world wide.

 

world wide operating company (albeit in a crummy sector currently) that just happens to be trading in Italy.

 

Another of these that might be interesting is Brembo, which does high-end brakes for sports cars, motorcycles etc.

[Guest]

https://www.youtube.com/watch?v=du1ehAMuy9w

 

Dave Ramsey wants people to buy. He's says it's the best buying opportunity in 10 or 15 years. Buy, buy, buy!

 

This is a better buying opportunity than March of 2009 (or at least March of 2010!).

 

Eh, this is why I've always disliked him. Everything he says is a gross oversimplification.

 

His comments about oil companies being around? Yes, maybe the specific ones he named but very many oil companies in general will NOT be if 2015/2016 is any guide.

 

His comments about Southwest airlines and the loss of market value versus riders totally ignores operating leverage and the negative impact an even modest drop in travel demand has on total profits for airlines. Further, his comments about Southwest dropping 30% and asking "is it really worth 30% less today?!?!" probably wasn't mirrored by a "is it really worth 30% more" following 2019s rally....

 

Further, is it really the best opportunity in 10 years? December 2017 was lower priced and we didn't have pandemic concerns or  dropping profits at that time.

 

December 2018 was lower priced and people were concerned about slowing global growth, but hadn't seen much a dramatic drop-off yet and still no pandemic concerns.

 

The fact of the matter is, after this drop, were still @ like 18-19x trailing earnings that are shrinking - with the potential to rapidly shrink in an actual recession. Hardly the best time in the last 10-15 years to buy and wholey irresponsible to characterize it as that for all of his listeners - particularly if we keep dropping from here.

 

Yeah the guy is full of bs. He claims that people should expect 12% out of equities...in a mutual fund!