How’s the stock market?

Woke AF

Phil Edwards status
Jul 29, 2009
6,276
543
113
Southern Tip, Norcal
CNN reports that the oil supply glut is "so epic" the world is running out of places to store it. If it costs more to store oil than its worth (currently $20 a barrel), then it will have a negative value.

This oil glut is creating a scenario where some obscure grades of oil already have actually dropped below zero. For instance, a Wyoming crude grade was recently bid at negative 19 cents a barrel, Bloomberg News reported last week.
Shrinking storage capacity means that oil producers in some cases have to pay someone just to take the barrels off their hands.
"The price is trying to go to a level to force companies to keep the oil in the ground. If it has to go negative to incentivize that behavior, then it will," said Neuberger's Wyll.
 

rts265

Miki Dora status
Oct 19, 2007
5,541
636
113
Futures up. I’ll either break even on my short positions or double down tomorrow if its green. I’m over it though.
 

Billy Ocean

Duke status
Jan 7, 2017
17,433
1,448
113

A powerful disinflationary tide is now rising,” said Joseph Lupton, global economist at JPMorgan Chase & Co.
That’s worrying because it could lengthen what may be the deepest recession since the Great Depression. Ebbing pricing power makes it harder for companies that piled on debt in the good times to meet their obligations....

While weak or falling prices may seem like an unalloyed good for consumers, a widespread deflationary price decline can be deleterious for the whole economy. Households hold off buying in anticipation of ever lower prices, and companies postpone investments because they see limited profit opportunities....

It’s possible that the response to this over the longer term could have an inflationary consequence,” former New York Federal Reserve Bank of New York President Bill Dudley told an April 2 webinar organized by Princeton University. “But in the near term, it’s very definitely on the disinflationary/deflationary side.”
 

sussle

Michael Peterson status
Oct 11, 2009
2,272
201
63
i'm having a fun week, actually. transitioning some paper strategies into real money and making a few bucks here and there.
 
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QuadFin

Gerry Lopez status
Oct 10, 2018
1,023
285
83
Crypto still pumping, although maybe top now for cool off period. LINK, XTZ been so hot. Now watching OXT.

Bitcoin halvening in 33 days
 

Sharkbiscuit

Tom Curren status
Aug 6, 2003
10,092
1,602
113
Jacksonville Beach
CNN reports that the oil supply glut is "so epic" the world is running out of places to store it. If it costs more to store oil than its worth (currently $20 a barrel), then it will have a negative value.

Good thing we have a bunch of speculators who can't take delivery extracting value from the equation by dint of their existence.

Reminds me of the time George Soros sold pounds faster than the UK could buy them in the early 90s. I mean it cost the UK over 3 billion pounds and caused a recession, but one asshole made a billion pounds attacking America's most powerful ally. He totally shouldn't be extradited, charged with an act of war against the UK, stood up against a wall, and shot.
 

QuadFin

Gerry Lopez status
Oct 10, 2018
1,023
285
83
Good thing we have a bunch of speculators who can't take delivery extracting value from the equation by dint of their existence.

Reminds me of the time George Soros sold pounds faster than the UK could buy them in the early 90s. I mean it cost the UK over 3 billion pounds and caused a recession, but one asshole made a billion pounds attacking America's most powerful ally. He totally shouldn't be extradited, charged with an act of war against the UK, stood up against a wall, and shot.
dont hate player, hate the game?
 

Sharkbiscuit

Tom Curren status
Aug 6, 2003
10,092
1,602
113
Jacksonville Beach
dont hate player, hate the game?
I don't have a problem with someone like Warren Buffet, who looks to buy and hold dividend-paying means of production.

When someone like Soros literally attacks a representative democracy to turn a profit, shoot the player in both kneecaps and throw him out the ass end of a Land Rover in a National Park in Kenya. During the dry season when the hyenas have been eating dead grass for a month. And a male lion just killed their matriarch. And a jackal stole their last gnawed-on bone five minutes prior. And a bunch of wild dogs pissed on their sleeping spot while they were foraging.
 

QuadFin

Gerry Lopez status
Oct 10, 2018
1,023
285
83
I don't have a problem with someone like Warren Buffet, who looks to buy and hold dividend-paying means of production.

When someone like Soros literally attacks a representative democracy to turn a profit, shoot the player in both kneecaps and throw him out the ass end of a Land Rover in a National Park in Kenya. During the dry season when the hyenas have been eating dead grass for a month. And a male lion just killed their matriarch. And a jackal stole their last gnawed-on bone five minutes prior. And a bunch of wild dogs pissed on their sleeping spot while they were foraging.
:ROFLMAO: (y)
 

sussle

Michael Peterson status
Oct 11, 2009
2,272
201
63
Good thing we have a bunch of speculators who can't take delivery extracting value from the equation by dint of their existence.

Reminds me of the time George Soros sold pounds faster than the UK could buy them in the early 90s. I mean it cost the UK over 3 billion pounds and caused a recession, but one asshole made a billion pounds attacking America's most powerful ally. He totally shouldn't be extradited, charged with an act of war against the UK, stood up against a wall, and shot.
which reminds me of the Hunt Brothers, who tried to corner the silver market in the 70's...there was a point in 1970-something where silver coins were selling for 12x face value. i don't think it worked out well for them, but i made a few bucks sellling silver dimes for $1.20.
 

obslop

Phil Edwards status
Feb 4, 2002
7,643
835
113
san diego, CA
i'm now 80% cash/20% risk on exposure in my largest account. i will be selling into this bounce.

i'm up 8% YTD as well. outperforming the S&P by around 25%.
 

Billy Ocean

Duke status
Jan 7, 2017
17,433
1,448
113
Deflation is manifesting


The numbers: The consumer-price index dipped 0.4% last month, the biggest decline in five years, the Labor Department said Friday. The drop was in line with the forecast of economists surveyed by MarketWatch.
Core inflation, minus food and energy, prices fell 0.1% in March, the first decline in 10 years
 

hal9000

Duke status
Jan 30, 2016
23,006
1,615
113
Urbana, Illinois
Remember the last time there was a pandemic that killed lots of people? It was followed by the roaring 20s, then everyone was perfect after that. So we should be totally fine.
 

QuadFin

Gerry Lopez status
Oct 10, 2018
1,023
285
83
AMC Theatres considering bankruptcy. Not enough liquidity to last through August if shutdown until then.

High of $36 in 2016. Current trading at $2.60
 
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