Dow Tanks! Nu Covid Variant from South Africa

[Dekster]

Retail is suffering probably the worst black Friday ever. There's almost nobody out there shopping today. I stopped at Home Depot and it's pretty much a ghost town and there's maybe 10% of the normal stuff out for sale vs previous black Fridays. Hit the mall, another ghost town it's crazy weird.

I noticed that when I went out yesterday to my big box store. Other than some random existing inventory on "sale" there was nothing different added in for the impulse/gift buyers. But for the Xmas decor items that have been there since before Halloween, you wouldn't know that they are even acknowledging Christmas exists.

 

[Harpy Eagle]

Tonight's futures are looking great!

Looks like I stand to make some bank tomorrow.

 

[Harpy Eagle]

Retail is suffering probably the worst black Friday ever. There's almost nobody out there shopping today. I stopped at Home Depot and it's pretty much a ghost town and there's maybe 10% of the normal stuff out for sale vs previous black Fridays. Hit the mall, another ghost town it's crazy weird.

They have all been doing "Black Friday" sales for at least the last two weeks. It is no longer a single day event like it once was

 

[otto105]

The news is talking about it right now. Definitely the variant out of South Africa. Europe just imposed travel restrictions to and from Africa so the market reacted.

And your excited…

 

[otto105]

You have to look at the REASON why oil prices are declining or rising. In this case oil is declining in anticipation of an economic slowdown, NOT a good thing. A GOOD reason for oil prices to drop is that there is an over supply in a good economic atmosphere, which this isnt.

We don’t have a good economic situation?

Do tell…

 

[otto105]

I’m triple vaccine’d, you ignoramus, but it’s a personal choice and responsibility. Didn’t Biden tell us that for those who get vaccinated, things can go back to normal? Once again he caved to those that are pulling his strings and everything he does and says.

He caved to what?

 

[DudleySmith]

A lot of insider and company founders are selling huge blocks of stock; the Walmart heirs for instance sold off four times what they usually sell. They're taking advantage of the ridiculously high prices. This of course sets off the day traders, bookies, and other lemmings and touts.

We already have a comedy forum, so why does this one exist? It's redundant.

 

[Roudy]

He caved to what?

You are correct. He didn’t cave in, because he obviously isn’t in charge. He’s like a marionette they drag out and make him say and do things. His handlers told him to back out and literally reverse everything he said in his go back to normal speech, two weeks later.

 

[otto105]

You are correct. He didn’t cave in, because he obviously isn’t in charge. He’s like a marionette they drag out and make him say and do things. His handlers told him to back out and literally reverse everything he said in his go back to normal speech, two weeks later.

Yes, President Biden told us all to get vaccinated so life could return to normal. You unwashed and uneducated fuckups decided that you love the virus and want keep it going for a perceived political advantage.

President Biden is still telling us to get vaccinated, but you orange fuckups like to die.

 

[Harpy Eagle]

I can live with this kind of tanking all day long

 

[Roudy]

Yes, President Biden told us all to get vaccinated so life could return to normal. You unwashed and uneducated fuckups decided that you love the virus and want keep it going for a perceived political advantage.

President Biden is still telling us to get vaccinated, but you orange fuckups like to die.

Ha ha Ha. That’s a nice diversion technique for avoiding how Biden’s handlers dragged him out and told him to reneg on what he had said just two weeks before he told people to throw away their masks.

You must be speaking for yourself and the rest of the deranged fools Running Democrat run states that are once again posting record high infection and hospitalization rates. And now the commie Ghestapo fascist Democrats are considering implementing policies that did not work before, more lockdowns or semi lockdowns.

 

[otto105]

Ha ha Ha. That’s a nice diversion technique for avoiding how Biden’s handlers dragged him out and told him to reneg on what he had said just two weeks before he told people to throw away their masks.

You must be speaking for yourself and the rest of the deranged fools Running Democrat run states that are once again posting record high infection and hospitalization rates. And now the commie Ghestapo fascist Democrats are considering implementing policies that did not work before, more lockdowns or semi lockdowns.

Don't look up.

 

[Harpy Eagle]

Bitcoin enters bear market territory as risk assets plunge on new Covid variant

It's going to be a rough Christmas season.

Markets are tanking globally as several countries in South Africa are isolated with new travel restrictions. The Rand is bottoming out.

Apparently it's a new variant with 30+ variations to the spike proteins so it's as infectious as Delta (possibly more) and capable of circumventing any vaccine to date. Researchers are guessing that it came from someone who was HIV positive that got infected with Covid.

What a mess!

Since this thread was started the DJI is up 1.36% which would be an annual growth of over 15%.
The S&P is up 1.91 which would be an annual growth of over 21%.
The NASDAQ is up 2.0% which would be an annual growth of over 22%


Not what most people consider to be "tanking"

Oh, and Christmas spending was up 8% from last year, the largest jump in 17 years.

Seems things are not a bad as you wish they were

 

[JohnDB]

Since this thread was started the DJI is up 1.36% which would be an annual growth of over 15%.
The S&P is up 1.91 which would be an annual growth of over 21%.
The NASDAQ is up 2.0% which would be an annual growth of over 22%


Not what most people consider to be "tanking"

Oh, and Christmas spending was up 8% from last year, the largest jump in 17 years.

Seems things are not a bad as you wish they were

No it is seeking general safety of blue chips. Look at the Russell 2000 index. But it's going to fall... weakness through the end of January. Especially towards the end.

 

[otto105]

Don't look up....at the markets.....

 

[otto105]

No it is seeking general safety of blue chips. Look at the Russell 2000 index. But it's going to fall... weakness through the end of January. Especially towards the end.

Your just hoping for a fall, failure guy.

 

[JohnDB]

Your just hoping for a fall, failure guy.

The huge amount of volatility lately is the big clue...it tanks 2% in a day but requires 3 days to come back...that's happened a lot in the past two months....that means the market has no confidence lately...and with electronic buying and selling it's faster and easier than ever.

There's a HUGE amount of margin in the market at the moment... meaning that the free money borrowing is what is propping it up at the moment...and when it comes out there's going to be hell to pay.

With the supply chain interruptions it is actually going to cause some severe issues with profits. With the lack of qualified available workforce it's going to be even worse.
Currently I've sold my coffee futures because the distributor/roasters can't get the packaging...OJ concentrate also is having similar issues...and the orange growers in Florida can't get the peat from Canada. Restaurants can't get paper products like paper towels for the restroom and hand washing stations. Chicken wings have tripled in price because of lack of labor at the processing facilities. Ground beef is still over $4/lb and feed lots are not buying feeders because the processing facilities have not been able to hire any labor.

So...this great economy is just busting at the seams eh?

I call. "Bullshit"

 

[otto105]

The huge amount of volatility lately is the big clue...it tanks 2% in a day but requires 3 days to come back...that's happened a lot in the past two months....that means the market has no confidence lately...and with electronic buying and selling it's faster and easier than ever.

There's a HUGE amount of margin in the market at the moment... meaning that the free money borrowing is what is propping it up at the moment...and when it comes out there's going to be hell to pay.

With the supply chain interruptions it is actually going to cause some severe issues with profits. With the lack of qualified available workforce it's going to be even worse.
Currently I've sold my coffee futures because the distributor/roasters can't get the packaging...OJ concentrate also is having similar issues...and the orange growers in Florida can't get the peat from Canada. Restaurants can't get paper products like paper towels for the restroom and hand washing stations. Chicken wings have tripled in price because of lack of labor at the processing facilities. Ground beef is still over $4/lb and feed lots are not buying feeders because the processing facilities have not been able to hire any labor.

So...this great economy is just busting at the seams eh?

I call. "Bullshit"

John

Has the market being moving up over the last two months? Yes, yes it has, so it's not taking 3 days to recover. In fact it's the overall strength of the economy which pushes it higher.

How have corporate profits been this quarter failure man?

 

[JohnDB]

John

Has the market being moving up over the last two months? Yes, yes it has, so it's not taking 3 days to recover. In fact it's the overall strength of the economy which pushes it higher.

How have corporate profits been this quarter failure man?

Profits are down and P/E ratios have skyrocketed because of it. Instead of 24's we are seeing 38's and higher...

There's no one who trades who isn't playing the short side at the moment...(not this week because there's no real volume...but after the first I'm expecting it to tank hard especially when everyone begins shorting)

Let's just see what happens by February...

I'm sitting on gold...but not a lot because PRC has been dumping gold to cover their cash needs because of all the worthless commercial paper they have floating out there...and they are over extended with "secret loans" as well. It's going to hurt when the party is over...by midterm elections I'm expecting a blowout turnaround in both houses so much so that even Nancy gets worried about her seat.

 

[otto105]

Profits are down and P/E ratios have skyrocketed because of it. Instead of 24's we are seeing 38's and higher...

There's no one who trades who isn't playing the short side at the moment...(not this week because there's no real volume...but after the first I'm expecting it to tank hard especially when everyone begins shorting)

Let's just see what happens by February...

I'm sitting on gold...but not a lot because PRC has been dumping gold to cover their cash needs because of all the worthless commercial paper they have floating out there...and they are over extended with "secret loans" as well. It's going to hurt when the party is over...by midterm elections I'm expecting a blowout turnaround in both houses so much so that even Nancy gets worried about her seat.

You're sitting on your ass.

Nobody is shorting this market who wants to make money.

You're a failure man.