this, SPY to 320$ end of April
Every job created in the last decade completely gone in 4 weeks! That is absolutely stunning!
- Thread starter S2007S
- Start date
Wrong. I live in a very high income area and know 4 people within a 2 block radius that have been laid off from 6 figure jobs.
That poster doesn't know any of the break downs of what job figures were lost out of the 22 million people unemployed.
My friend told me the other day that they were cutting salaries of those making 100,000+ so that as well will be eating into the economic slowdown. My friends salary has not been cut however he does work from home, I said if this quarantine last another month or two that his salary would be cut just as quick.
Not so fast with the "it's just a flu bro".And when the small businesses go back to work, then find the phone doesn't ring because there client base has vanished, then yet more lay offs.
It's amazing how nobody cares about the Lives screwed up and only concerned about the much smaller lives lost, of mainly old / sick people that are dying anyway and not even having a good time.
Sweden only 1 doing it right and there getting slated for itHuman so stupid when scared!!
https://www.thesun.co.uk/news/11340...-reactivate-recovered-patients-test-positive/
It's a temporary change due to a black swan medical event. Try to get some perspective. In my family, my wife got a new contract last week and my daughter got a major promotion. That is right in the middle of the crisis some of you are freaking out about. Of course, if you are in IT and can do your job 100% remote it's a booming thing to be in and that trend is not stopping for years forward.
Have a sandwich try to relax. In a year from now it will be like the virus never occurred, unless you try to force the short trade like MaxE did.
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Middle of the crisis? we are just 2 months into what will be a 2 year recession at least.
I got my highest paid IT job in September 2000, six months after the March 2000 top.
By September 2001 there were few new IT jobs, unless you took a 50% cut in rate.
There is always momentum in the system. Dead cat bounces in the Stock market.
And none of the big IT firms want to be the first to announce big layoffs. They don't have an excuse for it yet like other industries do.
But the layoffs and rate cuts will come even to IT.
Things are never that bad if you remain in work, as 80% will do, but if you find yourself out of work its going to be really tough.
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Doom and gloom isn't going guide you well moving forward. I couldn't care less where the stock market goes from here, but the tone on this site has been year 2009 all over again so emotionally overwrought so overdone and not at all useful to trading.
Anyone who didn't make a killing trading the last 4 weeks needs to give their head a shake and ask themselves why. And to repeat what I said in an earlier post, when the SPX hit the 2800 area I was/am not bullish on broader US markets at all.
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I wasnt talking about the Stock Market. I was talking about the Job Market. Bear markets are good for traders so things are looking good for traders. But there is a lot of Doom Gloom if you are out of work now or find yourself out of work soon. Things arent going to improve for a long time.
IT is an exception imo, especially in certain areas. And I don't agree with the "long time" part. I lived/worked through the IT boom and bust 1994-2001 I know exactly what you are saying. We aren't there yet, in fact this "at home" event is increasing opportunities in IT. Nothing's forever but you are too early calling the end of the cycle if it's a cycle.