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Stock market

#1
https://amp.cnn.com/cnn/2020/03/08/inves...index.html

The markets are in for a new one. It’s a substantial drop due to the coronavirus. 

Are we in for another recession?? Huh
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#2
Waiting til judgement day and the reckoning before I buy in, seems like we're not too far off at this rate :D
/sarcasm

I'm surprised because even crypto is taking a pretty big hit, /biz/ is in absolute chaos over it because it seems we were all under the impression that when stocks and fiat took their major hit, crypto would be the one to take over but that's not looking like the case right now.
It doesn't help that there are people creating 'coins' like $NCOV to try and create a blockchain for corona, whatever the h*** that means, but it just makes crypto seem more like a joke. Too many scam coins that are made for the sole purpose of the developers getting rich (and of course anyone who invests like a million dollars into an ICO.) It's like penny stocks, but for people who claim to be too tech-savvy for penny stocks.

Mind you, I'm not ragging on penny stocks, there are definitely good ones out there and one of my father's friends made 120k off of one penny stock by investing about 30k into it. I've also read a number of books on the subject, but so far the best one I've encountered that covers it all-around is Peter Leeds's Penny Stocks for Dummies, despite being a fairly intro type of book it really does go in-depth on how to invest properly and avoid getting scammed. Hint: It very rarely involves the stocks themselves and more about actually interacting with the company's Investment Officer to get some numbers about company employee growth, roadmaps, and projections, and then waiting a couple months and talking to them again to see if those promises were kept and then deciding if it's worth investing in. But, to be fair, you can only really get a phone call with that person if you plan on investing a relatively large sum of money, like 10k minimum.

If I wasn't a broke-boy I'd probably invest a bit. If all goes well I should be running into a fairly large sum of money from a different investment which I can then invest into something. Gotta buy that dip, but I don't think the dip is quite over yet until Moderna and that Israeli company can finalize their human tests for their Corona vaccines. So far it's looking good for them, so those should be the two companies to invest in.
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#3
Probably. With more things to shut down in the coming weeks, I expect it drop considerably. Its going to have repercussions felt all over.

That said, I'll be waiting, and once it levels out, I will be buying every last thing I can.

Remember: A loss or gain is not realized until the moment you SELL. People selling at the down are just... idiots.
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#4
They are worried it's going to be another great recession and are like, oh, well, lemme get some money while I still can. Finna
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#5
(March 12th, 2020 at 3:01 PM)Darth-Apple Wrote: They are worried it's going to be another great recession and are like, oh, well, lemme get some money while I still can. Finna

Start stocking up on the essentials! I bought a big bag of rice  and a big bag of beans today, and plan on slowly stockpiling while I can. Never know when things will go to h***.
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#6
Well BTC dropped from 8000-9000 to 5800 in a day.
LMAO at all the shills who considered it a 'value store' or whatever. Didn't protect from this sudden collapse, so it probably won't next time when we do go full boogaloo.

I still do have faith in crypto as an actual decentralized finance alternative to actual cash, since I don't want my bank to know what I'm buying, and cashless society seems to be what all the hipsters are trying to push nowadays. But it's still more of a utopian dream rather than an actual functioning use-case (aside from buying questionable things on questionable sites which I cannot confirm nor deny if I have ever done.)

And even if the only current functioning use-case is buying things that might not be quite above-board, that also just makes the masses think that only criminals use crypto, and because they won't admit to being criminals, they will not even consider using it either.

Oh well :(
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#7
(March 12th, 2020 at 11:30 PM)Lain Wrote: Didn't protect from this sudden collapse, so it probably won't next time when we do go full boogaloo.

This is why some of my investments are the non-monetary type. I bought land, that has a well and a creek. I've guided it into producing food partially without work, and h*** I'm even growing an alternative to toilet paper (lambs ear). I'm also armed well enough to defend it.
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#8
Mandy Ginsburg stepped down as CEO of the parent company of OKCupid, Match, Tinder, Hinge (Jan. 28)
Randy Freer stepped down as CEO of Hulu (Jan. 31)
Les Wexner stepped down as CEO of L Brands (Victoria's Seret, Bath&Body Works, etc.) (Feb. 20)
Keith Block stepped down as co-CEO of Salesforce (Feb. 25)
Bob Iger stepped down as CEO of Disney (Feb. 25)
Matt Levatich stepped down as CEO of Harley-Davidson (Feb. 28)
Bill Gates stepped down from Microsoft Board of Directors (Mar. 13)

Ginni Rommetty stepping down as CEO of IBM (expected April)
John Legere stepping down as CEO of T-Mobile (expected May)
Jeff Weiner stepping down as CEO of LinkedIn (expected June)
Ajay Banga stepping down as CEO of Mastercard (expected Q1 2021)

What do you think all these CEOs know that we the people don't?
Are they all just tweaking out in their doomsday bunkers because of Corona? How would the early leavers have known that it might pose a threat and why are some waiting longer?
Are they afraid that Corona will start the Holy Hootenanny reflecting on the French Revolution and class-warfare?
Big Brain Time™
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#9
John leger surprises me. I wouldn’t have expected that one, and I used to work at T-Mobile.

Doubtful it has anything to do with corona, tbh.
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#10
Could be natural attrition and a coincidence.

Could also be the expectation that we've been way overdue for a recession, so the next one might be real bad, and they don't want to deal with that. Who knows?


Been seeing so many people in some of my Financial Groups decrying they lost ##% of their saving or portfolio in the "stock market crash" and moved assets to bonds to prevent them falling further. I just want to yell at them! You only realize the loss when you sell, which you just did. All the selling only drives it further down. WHen it does come back up, you're going to be stuck in bonds and you'll pay the higher cost to get back in, realizing your losses TWICE! I can't with people.
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#11
honestly I've no idea what will happen, demand is still high enough due to panic to prevent the market from completely crashing. I'm going to see how low it get's in a couple months, invest when it's at it's perceived lowest, then take my investment back up when it shoots back up again to help pay for my projects...
"I reject your reality and subsitute my own." - Adam Savage, Mythbusters
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#12
(March 17th, 2020 at 2:43 PM)SpookyZalost Wrote: honestly I've no idea what will happen, demand is still high enough due to panic to prevent the market from completely crashing.  I'm going to see how low it get's in a couple months, invest when it's at it's perceived lowest, then take my investment back up when it shoots back up again to help pay for my projects...

I might do the same man. It’s almost guaranteed money at this point. The stock market will go back up. 

It has already dropped by a third. I don’t know how much more it will drop, but it’s unlikely that it will drop by too much more than maybe 1/2. People know it’s a huge opportunity. They’re investing when it counts.
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#13
Turns out a lot of GOP senators sold off their stocks before the crash.

Everything's gonna crash way harder, it seems. Else they wouldn't have sold off everything and just waited for their comeback as usual.
Don't trust this micro-rally, we're not at the bottom yet. It's all denial, it'll tank once more. Then hopefully that'll be the bottom.
Cashing out my crypto to fiat (cash) or USDT soon. Put in a few orders for some stuff online with it last night when it shot up 20% across the board.

I'll probably be buying back in soon, maybe two months or so from now.
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#14
As long as it hasn't gone down too much already. It will bottom out, but it will rise sharply once we are on the upturn, and it will be higher than it is now.

The GOP senators thing, I saw that in the news. They are now being acused of insider trading. Huh
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#15
(March 20th, 2020 at 11:23 PM)Darth-Apple Wrote: As long as it hasn't gone down too much already. It will bottom out, but it will rise sharply once we are on the upturn, and it will be higher than it is now.

The GOP senators thing, I saw that in the news. They are now being accused of insider trading. Huh

At this point I wouldn't even call it an accusation. There's no way it isn't insider trading haha.
I'm growing increasingly concerned that this is all a man-made crisis: virus developed/modified in a lab, vaccines developed by government-backed labs (see: Trump trying to buy a company in Germany that was working on a vaccine), fueling the panic through mass-media, and collapsing the stock market to make the new-money rich poor once more.

But hey, just a theory. All speculative, but I wouldn't be surprised if that's what's going on.

There was enough speculation on the virus being somewhat man-made, and the theories are convincing enough (although more or less impossible to prove or disprove for the next 50 years until the CIA declassifies documents like they did with MK-ULTRA). Either China developed it to spread to Hong Kong to give them a reason to invade under the premise of quarantine and prevention, or the U.S. made it to blame China and go to full-blown economic warfare with all the propaganda they need. The latter would also explain why two cases popped up in Chicago with neither patient travelling within the last five years, or whatever.

I'm going schizo with all this, I need to stop xd
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#16
It's unlikely that it was man made. They've more or less documented the fact that it likely came from meat in a Chinese market from a mutation. It does seem odd that this virus is spreading so efficiently right after its inception, and it seems odd that China has suddenly stopped it, but it's highly doubtful to me that they would go on to create a deadly virus that would infect the entire world.

The scary part is that there isn't a lot known about this virus, and the government definitely knows (and isn't sharing) more than we do. So only time will tell, I suppose. But as of now, you have a 1/25 chance of dying if you catch it. That is 30X more deadly than the flu, IIRC.
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#17
The rate of spread... is mind boggling. I'm also intrigued at the relatively low death rate compared to others and why they chose THIS one to go on the quarantine blitz. I don't buy the conspiracy theories in general, but there is something off about this. Even if its people/media/politicians feeding the fire for their own gain.
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#18
The whole world is going on a frenzy. When one nation goes on lockdown, the rest start to feel like they should. The thing about this one is that, yea, less people have died from it than have died from the flu. But at the same time, there are less than 300,000 confirmed cases, whereas the flu has had many, many times this amount.

It's hard to see the true scale of the coronavirus because we obviously cannot test for every case (and likely this won't be so for several more months). There are likely several unconfirmed cases for every confirmed one, but the death rate is still high compared to the flu. Likely lower than the 4% figure that we're afraid of because of the unconfirmed cases, but we just don't know yet. That's the problem. It's a completely unknown scenario. The real numbers and the true scale of this are completely unknown at this point.
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