Instant Limit Down 3/22/2020

[pstrusi]

Dow 17k by Tuesday?

https://www.tradingview.com/symbols/CBOT_MINI-YM1!/

https://www.tradingview.com/symbols/CME_MINI-ES1!/

Surprisingly markets have come out of the halt like 30 mins ago

 

[guru]

No worries. Several traders on ET claim the market will be back to all time high by end of April. Trust them. BTFD.

 

[southall]

No jobs when graduating high school.
No jobs when reaching prime childbearing and house owning years.
Looking real great for the millennials.

At least they got super cool smart phones as teenagers.

 

[dozu888]

what happened to buying the dips dozu? I thought you were all for buying up corrections? Shouldn't you be loading up the dump truck?

I am, this STILL doesn't change anything!

 

[MKTrader]

I wouldnt trade the indexes at all unless you have huge nuts.

Getting caught long in a limit down would be catastrophe.

Same with shorting if they halt trading altogether for a while, like they did after 9/11. That's really not a bad idea, either. Wait a few weeks, the worldwide curve starts to flatten, it becomes even more clear that warmer weather/climates are slowing COVID down...then trading opens back up & indexes gap up 20%. All the first time "I just learned to short S&P futures and I'm a genius!" types suddenly get margin called.

 

[schizo]

So I didn't know how this worked but seem to read somewhere else:

Futures halt (like ES) will last until US open. During such halt you can still trade at or above 2174 (i.e. -5% or less).

Is that correct?

Yes, in fact it's trading now to the upside.

 

[ironchef]

mass economic suicide, for fcking 5000 dead people, most of them don't have long to live anyway.

human stupidity to the highest level. ladies and gentle boyz.

OK so what are you going to do? Buy more? I may double down again.

 

[ironchef]

this is the time for the Millenials to fcking stand up and fight for yourself! the boomers have already screwed you over in so many things, and now because of them the economy is fck'ed.

That is why they are partying like there is no tomorrow.

 

[dozu888]

OK so what are you going to do? Buy more? I may double down again.

will buy more at the EoM when I get some more cash on hand.... but that's small compared to the portfolio....

at the end of 2018 when the portfolio had a $1m draw down I was kind of proud of myself it was like wow it's so big now even the draw down can hit 7 digits... and I been thinking well some day the draw downs gonna get bigger to 2m 3m 5m etc... it will be quite a scene... didn't see the 2m thing coming so quickly.

but again... quality of life aint gonna change...

I am still $2m in the money, and if the economy is f'cked, then all the discretionary stuff get prices cut in half anyway.

that's why you want to keep playing the long game the big game, once you get into the top few %, this is the class that rules the country and they will always take care of themselves.

 

[qaz]

this is the time for the Millenials to fcking stand up and fight for yourself! the boomers have already screwed you over in so many things, and now because of them the economy is fck'ed.

Don't fight the market. Making money in the market isn't just buying stocks. Put your ego aside and start shorting.