Stock market.... What are you doing?

[smokingman]

If banks where fine,they would not have passed this quietly today before even passing the covid-19 bill.

H.R. 6380. A bill to temporarily provide for Federal insurance of transaction accounts during the COVID-19 emergency; to the Committee on Financial Services.

Of course they passed it without reading it,because no text was available,and still is not. I think taxpayers just became the FDIC.

As of 03/26/2020 text has not been received for H.R.6380 - To temporarily provide for Federal insurance of transaction accounts during the COVID-19 emergency.

https://www.congress.gov/bill/116th-congress/house-bill/6380/text

 

[smokingman]

Jobless claims due in 10 minutes.

Forecast is for -220k

I know it will be much higher as Minnesota's governor announced yesterday 195k in the last week alone(80% of which had never filed a claim before).

Highest estimate I have seen is 3 million.

I think it will be higher than that.

3.3 million. Just came in.
https://www.cnn.com/2020/03/26/economy/unemployment-benefits-coronavirus/index.html

It may not include all as some states are reporting huge backlogs,and none of the claims filed this week.

These numbers are just "the tip of the iceberg," said Diane Swonk, chief economist at Grant Thornton, noting that these figures do not even include data from this week.

 

[maxwelhse]

Never thought I'd see this as I sit in the house on a literal travel quarantine, but I'm up about 10% net on CCL now... Unreal.

 

[JettaKnight]

Never thought I'd see this as I sit in the house on a literal travel quarantine, but I'm up about 10% net on CCL now... Unreal.

RCL shot right up, too. Still way down, but...

 

[maxwelhse]

RCL shot right up, too. Still way down, but...

Up 15% now too... My weed stock is having a rally too. Up 27% today (CTST, a horror show for sure, but I've flipped it a couple of times before and done ok).

If I'm able to flip some profit on these guys, I may buy some more VGR to hold long... Not sure how I feel about energy stocks right now, but VGR sure looks like a good bargain.

 

[JettaKnight]

Up 15% now too... My weed stock is having a rally too. Up 27% today (CTST, a horror show for sure, but I've flipped it a couple of times before and done ok).

If I'm able to flip some profit on these guys, I may buy some more VGR to hold long... Not sure how I feel about energy stocks right now, but VGR sure looks like a good bargain.

I guess if you gotta stay home, you might as well get high.

 

[hoosierdoc]

Never thought I'd see this as I sit in the house on a literal travel quarantine, but I'm up about 10% net on CCL now... Unreal.

Nice. My one bright spot is my NCLH sep 2020 $10 calls

AAL jan 2021 $15 call good too

 

[maxwelhse]

Nice. My one bright spot is my NCLH sep 2020 $10 calls

AAL jan 2021 $15 call good too

I really need to get into options trading. I could have cleaned house...

 

[hoosierdoc]

I really need to get into options trading. I could have cleaned house...

well, my house got emptied by making long bets too early so I guess mine is clean too

I sold one of my two NCLH calls today, 140% profit. I then put it into a june 22.50 put. I'll put a limit sell on that for a 30% gain and see if volatility gets me there. I paid $7.66 for the put and have a limit sell for $10. Probably change that to 9.95

 

[maxwelhse]

well, my house got emptied by making long bets too early so I guess mine is clean too

You raise a good point there. I doubled down way too early too and that's half the reason I'm bleeding so badly now; no more dry powder when the real deals came up. If I had waited a few days I'd be sitting in high cotton right now. That's not to say things won't change next week, or next hour, to either direction, but... I would be in the same boat regardless if I was in options.

 

[nonobaddog]

The more I hear - the more options sound tempting.

 

[hoosierdoc]

The more I hear - the more options sound tempting.

It's the ultimate in high risk day trading. Don't do it with much of your portfolio. i am a complete novice and not doing it well. listen to randy, he seems to know how to do it

 

[maxwelhse]

It's the ultimate in high risk day trading. Don't do it with much of your portfolio

That seems to be the key here. It seems that several guys on here, just based on the bull shooting here and there, aren't into that as a concept. Seems to be more of a "buy good investments and hold forever" crowd, which is cool.

 

[nonobaddog]

Yeah, maybe options are not for me then.
I am old and old school. I used to do a little daytrading and I don't want to spend that amount of time anymore.
So, back to security and sanity for me - which for me is what I am used to - buy and hold.
I'll never need to take any money out of these accounts but I want them to make money for my son.
This recent volatility got me all excited but I'm going to try to rein that in and just buy when it is low.

 

[maxwelhse]

Yeah, maybe options are not for me then.
I am old and old school. I used to do a little daytrading and I don't want to spend that amount of time anymore.
So, back to security and sanity for me - which for me is what I am used to - buy and hold.
I'll never need to take any money out of these accounts but I want them to make money for my son.
This recent volatility got me all excited but I'm going to try to rein that in and just buy when it is low.

The people accusing guys like me of being gamblers are absolutely right, and there are good reasons not to do it, but...

There's also nothing wrong with putting a kilobuck into some risks and spinning the wheel for ammo money, just for grins if you can afford to lose it. A grand in Boeing last week would have netted you approaching 100% profit. Same is true for CCL. If I was smart, I would have cleared 300% on INO a few weeks ago instead of just the 100% I did. I flipped 30% on MRNA too...

So, there's a time and a place for everything, IMO. Just know the risks and play the game accordingly. If your risk tolerance is not to play, I totally get it.

 

[hoosierdoc]

I'm up 18% on the put I bought around 1p. Of course the call I didn't sell has lost about that much. But I still think long term it'll go up, just wanted to hedge a little. Another $0.95 and I'll get my limit sell on the put and probably buy another call

I ended up selling the put for $9.20. Stock tanked later in the day and I didn't want to hold it after market close. Quick $154 profit rather than holding the call and dropping $300 like my other call did. I'm trying to get some smaller wins rather than trying enormous ones less likely to pay off.

 

[maxwelhse]

In his daily presser Trump said that he was letting CCL off the hook with moving to the US and the stock shot up 1.5%, then right after that he said they may "look at it more", and within seconds it pulled back .75%.

Just funny to watch this stuff happen in real time.

 

[smokingman]

My take on the current markets.

You are in a movie theater. It is intermission so they can change over the reel to the last half of the movie.
The building is on fire,but they are having a sale at the concession stand. Do you get a drink and tub of pop corn and go sit to watch the rest of the film,
or go to the nearest exit?
Oh,and the fire marshal just inspected the building,said everything was in order and he even took the time to stop at the concession stand and got a coke on his way out.

 

[NyleRN]

The people accusing guys like me of being gamblers are absolutely right, and there are good reasons not to do it, but...

There's also nothing wrong with putting a kilobuck into some risks and spinning the wheel for ammo money, just for grins if you can afford to lose it. A grand in Boeing last week would have netted you approaching 100% profit. Same is true for CCL. If I was smart, I would have cleared 300% on INO a few weeks ago instead of just the 100% I did. I flipped 30% on MRNA too...

So, there's a time and a place for everything, IMO. Just know the risks and play the game accordingly. If your risk tolerance is not to play, I totally get it.

I ended up getting cold feet and canceled my orders to sell off my Norwegian and American Airlines. The order was put in at closing and wasn't gonna execute till this morning. The futures were negative last night and jobs reports coming out today looked bad. Was sure there would have been a 2000pt sell off today. But this morning futures were in the positive by half percent and pre-market trading was positive 3%, so I cancelled my sell orders. At closing today I didn't really gain much but didn't lose my gains from previous 3 days either. I hated selling for a small profit when I bought those stocks at such a great deal. I picked up 25 shares of CCL today too. I missed the bottom on that one I think. I'll be dumping another $2k into stocks very shortly after this stimulus bill passes. Should build some market confidence. How long it'll last no one knows. This may be a bull trap

 

[Alpo]

https://www.washingtonpost.com/business/2020/03/26/cruise-line-bailout/

Cruise lines don't qualify for bailout?