Is everyone in a fullblown panic because of coronavirus?

Wallet said:
Too many unknowns atm, everything is in the wind, swung to extremes by panic. Commodities get tossed but can’t remain at extreme levels forever, supply/demand will eventually pull it in line.
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We are still off the lows so let us see how we open tomorrow.....Trump will announce tax holiday on estate taxes to benefit all the rich people who will die from this.
 
El OchoCinco said:
I have XOM, XOP and USO. All 3 are long term holdings that I can sit on for 6 months to a year. No way oil sits at this level. Go back ad look at all the other "crashes" to low levels with serious global recessions, they bounced back within 3 to 6 months to higher levels. These 3 are holdings until end of year as bonus money. XOM also pays a nice dividend so some minimal return for money that was in cash anyway.

OILU is the main lottery ticket. Even if it only jumps back to $5 to $7 still nice spending money.

The more buyers coming in after June is where I expect to make this back but getting in now during the panic when everyone is running for the exits will be a nice entry. I expect to take some heat but I can sit and wait.
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Ok, well, its hard to call a bottom and I can see your logic there. I'd still take XOM out. Swap it with KMI. Its a little more expensive (PE-wise), but it'll bounce stronger when the reversal occurs. Its got 6.25% div too. And not that it matters, but BoA downgraded several oil stocks today and upgraded Kinder. Its $15.50. I'd wait a day or so though. Hold XOM in in the interim I guess if you're gonna be stubborn lol.
 
vanzandt said:
Ok, well, its hard to call a bottom and I can see your logic there. I'd still take XOM out. Swap it with KMI. Its a little more expensive (PE-wise), but it'll bounce stronger when the reversal occurs. Its got 6.25% div too. And not that it matters, but BoA downgraded several oil stocks today and upgraded Kinder. Its $15.50. I'd wait a day or so though. Hold XOM in in the interim I guess if you're gonna be stubborn lol.
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Insiders agree with me too Ocho. ;)

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Those were all open market purchases too btw.
 
looks like America isn't the only one panicking

https://www.reuters.com/article/us-health-coronavirus-secrecy-exclusive-idUSKBN20Y2LM
Exclusive: White House told federal health agency to classify coronavirus deliberations - sources

WASHINGTON (Reuters) - The White House has ordered federal health officials to treat top-level coronavirus meetings as classified, an unusual step that has restricted information and hampered the U.S. government’s response to the contagion, according to four Trump administration officials.



 
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