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Deliverance said:
If 1929 repeats, end of August should be a good time to cash out. I'll be seriously considering hedging against at that stage.
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Good ol’ 1929.

We’ll encounter some rocky times, but I can’t see a repeat of 1929. Government heavily invested this time.
 
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waited too long but I got into Woodside today just after open.
Very well managed company, going to be happy to hold for a number of years with a dividend reinvestment plan
 

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Wall St plunges in broad sell-off

Australian shares are poised to drop sharply at the open, following the lead from overseas. US stocks tumbled in a broad sell-off with some market watchers pointing to rising virus cases, particularly in some southern US states.

The US now has more than 2 million confirmed virus cases and more than 113,000 virus related deaths, according to Johns Hopkin University, with a number of states reporting an increase in cases as they've eased lockdown measures.

That has fuelled concern about a second wave hitting the US. Pantheon Macroeconomics' Ian Shepherdson said "the hospitalisation numbers [in some southern US states] are terrifying, and in the absence of mitigating action on the part of policymakers or the citizenry or, preferably, both, the picture will soon look a good deal worse".

ASX futures were down 181 points or 3% to 5775 near 7am AEST. The currency dropped 2% to 68.55 US cents.

"The rally that we’ve seen off of the mid-March lows was a little excessive in my opinion so some natural consolidation is not surprising," said Brian Price, head of investments for Commonwealth Financial Network of US equities.

"We’ve been hearing about retail investors increasingly speculating on riskier stocks and sectors of the market and that type of enthusiasm can sometimes be a contrarian indicator."

Mr Price also said that while the May US jobs data was better than expected, "weekly jobless claims are a constant reminder that we’re in a recession and the market may have advanced too far too fast off of the March lows".
In New York, the losses were stunning. All three major US stock indexes lost well over 5%, posting their worst one-day percentage drops since March 16.

The CBOE volatility index , a barometer of investor anxiety, posted its largest one-day point gain since March 16.
In a tweet, LPL Financial's Ryan Detrick said: "4 days ago the S&P 500 was greater than 13% above it's 50-day MA, today it is less than 4% above. Elevator up, escalator down."
"If you were lamenting the fact you missed the last 2000 points, now's your chance to remedy that mistake," said Jamie Cox, managing partner for Harris Financial Group.
At the close, the Dow was 1862 points or 6.9% lower; the S&P 500 was down 5.9% and the Nasdaq had fallen 5.3%. All 30 Dow components fell, paced by a 16.4% drop in Boeing and a 9.9% drop in Dow Inc.
All 11 of the S&P 500 industry groups tumbled, led by a 9.5% drop in energy. Oil futures fell more than 8%; base metals were lower in London; gold was lower; iron ore slipped.
The yield on the US 10-year note slid 6 basis points to 0.67%.

Among other thoughts on why the market is selling.
Economist and New York Times columnist Paul Krugman tweeted: "It's really hard to point to real news driving the market plunge today. Yes, COVID-19 cases are rising in many states; the Fed thinks the econ outlook is still dire; the Trump admin inspires no confidence; a lot of stock buying looks bonkers. But we knew all that."
"Government, companies and people would be better prepared for second wave than for the first one," said Roland Kaloyan, European equity strategist, Societe Generale.
"But the problem is there is a limit to the governments injecting money. They're using all the resources now for a V-shaped recovery."
Still Capital Economics' Simona Gambarini said in a note that she was generally bullish on equities going forward. "With monetary policy likely to remain loose for a long time and the world’s largest economies gradually re-opening, our view remains that equity markets will continue to make ground over the coming years."
Ms Gambarini said her outlook reflects an expectation that as virus lockdowns ease, corporate profits will recover. In addition, she expects interest rates "be kept at rock-bottom level for a long time, reducing the risk-free component of the discount rate used to value equities".
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Sentiment shifts so quickly. I stopped out one series of put warrants a while ago, picked up some more. Not a fan of sitting in the current market unprotected. Certainly not selling my very long term holds (infrastructure, CSL, free-carry bank holdings, our two major supermarkets, etc).

A tiny parcel of DW8 seems to have done ok recently, tucked them away and hadn't checked them for weeks.
 
I haven't done the math for the week yet but we're still well up from the lows.

People are currently buying the dip - Europe is up 1%-ish and the US is about to open about 2% up.

In the meantime, property prices are down but it's still not a crash:

EaR2mJHU4AUqZYo
 
www.livewiremarkets.com

Why are we paying taxes?

Why do we pay taxes? It is a simple question with a seemingly simple answer. Most would agree that taxes obviously need to be paid so that the government can pay for essential services in which we all share. It was noteworthy, therefore, when elite bond investor, Jeffrey Gundlach, asked...
www.livewiremarkets.com www.livewiremarkets.com

“Why bother with any taxes at all if Chair Powell is correct that there is no limit to expanding the Fed’s balance sheet?”
 
Deliverance said:
It's all about rich people getting richer with our tax dollars. We're all suckers in this game.

The secret behind the booming stock market in the face of the coronavirus crisis - ABC News

amp.abc.net.au amp.abc.net.au

"For when it comes to finance, free markets have become captive to central banks, which now are pouring trillions of dollars into the global economy each month to fabricate a recovery."
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globalization! period
yet capitalism is to blame despite globalization is capitalism on steroids
 

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Kram said:
Haven't been tempted to go back there?
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Hell no, I've learned my lesson to invest in stocks I want to own at a cheaper price instead, you don't lose that way. Have also avoided anything too speccy (NVX, APT, Z1P) and have seen many people burnt buying near the top.
 
Gigantic said:
www.livewiremarkets.com

Why are we paying taxes?

Why do we pay taxes? It is a simple question with a seemingly simple answer. Most would agree that taxes obviously need to be paid so that the government can pay for essential services in which we all share. It was noteworthy, therefore, when elite bond investor, Jeffrey Gundlach, asked...
www.livewiremarkets.com www.livewiremarkets.com

“Why bother with any taxes at all if Chair Powell is correct that there is no limit to expanding the Fed’s balance sheet?”
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try understsnding the basics of economics when the dollar went from being based from gold to inflation!
gotta love old ragon and hawke
 
How is it that this thread has so much action but the crypto thread is dead?

Stonks
 
Quixote said:
How is it that this thread has so much action but the crypto thread is dead?

Stonks
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This thread has about 5 posts a week, what's 'so much action' about that

Crypto, everyone knew was a bubble. The tech will be used the world over (blockchain) but the currency aspect is dumb. Coins for every niche was never going to work. No shocks there's no action there
 
Quixote said:
How is it that this thread has so much action but the crypto thread is dead?

Stonks
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The crypto bubble burst time time ago! It’s appeal is to geeks and say workers who are involved in the dry cleaning business who need to store cash safely away from any say competitor wanting to get there hands it
 
ash_1050 said:
Hell no, I've learned my lesson to invest in stocks I want to own at a cheaper price instead, you don't lose that way. Have also avoided anything too speccy (NVX, APT, Z1P) and have seen many people burnt buying near the top.
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Hard to see much out there that feels cheap at the moment.
 
Kram said:
Hard to see much out there that feels cheap at the moment.
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Oils ain’t oils!
As much as the left try and tell you about oil and fossil fuels, oil is like coal is used in several of our every day products aside from putting in a car! Plastics, clothing, electrical items
 
Clearly no one is keyed into what's happening in DeFi then. There's a Cambrian explosion happening right this moment -- TVL is skyrocketing, crazy yields.

Literally realised $20k USD clear profit tonight, simply from supplying liquidity for the last 3 weeks, from the BTC/ETH/USD in my cold wallet, to a decentralised automatic market-maker, governed by a fully audited smart contract.

Not even sure why I'm writing this though. It's not alpha once everyone knows about it.

G'luck with those stonks.
 
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I totally agree, coins for every niche was a fierce blend of stupidity and scam.

IMO there's 3 things which are all fairly recent developments and all are game-changers for crypto. All 3 elements listed here are still in their nascent stages, but at the same time, functional to varying degrees:

* Stablecoins

* Cross-chain functionality

* Decentralised finance (DeFi)


ICO's and shitcoins that do nothing were left by the wayside a long time ago.
burge13 said:
This thread has about 5 posts a week, what's 'so much action' about that

Crypto, everyone knew was a bubble. The tech will be used the world over (blockchain) but the currency aspect is dumb. Coins for every niche was never going to work. No shocks there's no action there
Click to expand...

On POT-LX1 using BigFooty.com mobile app
 
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