6 ms·

Didn't watch him talk (it's nauseating). What in particular goosed the market so much? This virus is still going to be awful. Honest question folks. Looking for

by davidw 7y ago

Didn't watch him talk (it's nauseating). What in particular goosed the market so much? This virus is still going to be awful. Honest question folks. Looking for a particular policy or something that he announced.

derision 7y ago
I'm guessing the Robinhood "infinite money cheat" had a big impact here. Even if only a few thousand people built up crazily leveraged positions it could cause a tumble like this. The pattern makes sense to me, robinhood recalculates margin every night and liquidates in the morning, and the big drops have all been first thing in the morning pre-market.
- bontaq 7y ago
  You realize that's due to shorts, puts, and more bad news right? It's not mysterious at all.
  - derision 7y ago
    I had no idea!! Thanks man you really opened my eyes /s
    - bontaq 7y ago
      You literally implied robinhood was somehow swinging the dow jones down 7% at open due to an "infinite money" cheat. Maybe just accept new information and correct your weird conspiracy theory.
      - derision 7y ago
        The infinite money cheat was leveraged by selling both calls and puts and underlying stock. Forced liquidation would trigger massive selling to unwind these positions
        bontaq 7y ago
        https://markets.businessinsider.com/news/stocks/robinhood-fixes-infinite-leverage-free-money-glitch-suspends-related-traders-2019-11-1028670689 https://markets.businessinsider.com/news/stocks/robinhood-fi... man.
thrill 7y ago
The markets have long historically grown at 7% annually. With 250 trading days per year, anytime the market moves more than 0.03 percent a day, it's an overreaction or an overcorrection.
nickthegreek 7y ago
He paraded the CEO's of Walmart, CVS, Walgreens and Target out like prized mules and everyone talked heavily of the new Public/Private partnership that was needed to solve this issue.... I wish I was kidding.
- allovernow 7y ago
  What exactly is the problem with turning toward corporate America to help solve this problem? Isn't that the ultimate stimulus? Is the potential of returned manufacturing jobs not a hugely good thing? Or are we not allowed to give credit for anything because Trump?
  - davidw 7y ago
    What will they actually be doing that got the market all excited?
  - dlp211 7y ago
    > Is the potential of returned manufacturing jobs not a hugely good thing? I do not know where you got the idea that this is happening.
    - allovernow 7y ago
      Hello? The entire country just recognized the folly of outsourcing literally everything to a single third world country. If Trump isn't a total idiot (though I know many of you believe he is) this is his opportunity to return manufacturing jobs to the US, possibly under subsidy, at the very least as a national security concern. This rampant tribalism is insane. Literally nothing the administration does now will see any credit from it's opponents. Take off the partisan blinders. Even shitty leaders can make good decisions, and deserve credit for doing so.
      - munk-a 7y ago
        When Trump does good things I have given and will continue to give him credit. He's burned all the good will in existence though so let's see if he actually does help fund manufacturing before giving him any credit. So far he's been moving in the opposite direction though with an emphasis on overall company welfare at the expense of employees - there have been no proposals around preventing people from losing their jobs due to needing to self-isolate and no effort to make treatment federally subsidized (testing is probably free if you're not one of the millions of people without insurance, but even here the details are hazy).
dlp211 7y ago
He managed to look and sound somewhat like an adult and it finally looks like the federal government is going to act competently. Also Google is going to be running the website and they are partnering with LabCorp and Quest to offer drive up testing.
- sneak 7y ago
  > He managed to look and sound somewhat like an adult He struggled to pronounce "coronavirus".
  - dlp211 7y ago
    I said somewhat ¯\_(ツ)_/
    - sneak 7y ago
      > it finally looks like the federal government is going to act competently Testing only those with symptoms (the virus has a 4-6 day contagious incubation period) will do little to nothing to stop the spread. There are thousands, perhaps tens of thousands of people walking around asymptomatic and contagious right now, in pretty much every state in the country (as well as pretty much every country in the world). In a week it will be 2x that number. In two weeks it will be 4x that number. Imagine if you needed AIDS symptoms to get an HIV test.
      - inferiorhuman 7y ago
        Imagine if you needed AIDS symptoms to get an HIV test. Did you see how the 80s and 90s played out in the US?
      - dlp211 7y ago
        You're preaching to the choir. I think that this Administration is a complete disaster at every level and especially with regards to its response to COVID19. I've been preaching about the dangers of COVID19 since the first case was discovered in America. I'm just trying to see it from people's point of view that don't live in my reality.
jhayward 7y ago
The market seems to be responding to the removal of uncertainty about a national emergency declaration.

by davidw 7y ago

derision 7y ago

I'm guessing the Robinhood "infinite money cheat" had a big impact here. Even if only a few thousand people built up crazily leveraged positions it could cause a tumble like this. The pattern makes sense to me, robinhood recalculates margin every night and liquidates in the morning, and the big drops have all been first thing in the morning pre-market.

bontaq 7y ago
You realize that's due to shorts, puts, and more bad news right? It's not mysterious at all.
- derision 7y ago
  I had no idea!! Thanks man you really opened my eyes /s
  - bontaq 7y ago
    You literally implied robinhood was somehow swinging the dow jones down 7% at open due to an "infinite money" cheat. Maybe just accept new information and correct your weird conspiracy theory.
    - derision 7y ago
      The infinite money cheat was leveraged by selling both calls and puts and underlying stock. Forced liquidation would trigger massive selling to unwind these positions
      - bontaq 7y ago
        https://markets.businessinsider.com/news/stocks/robinhood-fixes-infinite-leverage-free-money-glitch-suspends-related-traders-2019-11-1028670689 https://markets.businessinsider.com/news/stocks/robinhood-fi... man.

thrill 7y ago

The markets have long historically grown at 7% annually. With 250 trading days per year, anytime the market moves more than 0.03 percent a day, it's an overreaction or an overcorrection.

nickthegreek 7y ago

He paraded the CEO's of Walmart, CVS, Walgreens and Target out like prized mules and everyone talked heavily of the new Public/Private partnership that was needed to solve this issue.... I wish I was kidding.

allovernow 7y ago
What exactly is the problem with turning toward corporate America to help solve this problem? Isn't that the ultimate stimulus? Is the potential of returned manufacturing jobs not a hugely good thing? Or are we not allowed to give credit for anything because Trump?
- davidw 7y ago
  What will they actually be doing that got the market all excited?
- dlp211 7y ago
  > Is the potential of returned manufacturing jobs not a hugely good thing? I do not know where you got the idea that this is happening.
  - allovernow 7y ago
    Hello? The entire country just recognized the folly of outsourcing literally everything to a single third world country. If Trump isn't a total idiot (though I know many of you believe he is) this is his opportunity to return manufacturing jobs to the US, possibly under subsidy, at the very least as a national security concern. This rampant tribalism is insane. Literally nothing the administration does now will see any credit from it's opponents. Take off the partisan blinders. Even shitty leaders can make good decisions, and deserve credit for doing so.
    - munk-a 7y ago
      When Trump does good things I have given and will continue to give him credit. He's burned all the good will in existence though so let's see if he actually does help fund manufacturing before giving him any credit. So far he's been moving in the opposite direction though with an emphasis on overall company welfare at the expense of employees - there have been no proposals around preventing people from losing their jobs due to needing to self-isolate and no effort to make treatment federally subsidized (testing is probably free if you're not one of the millions of people without insurance, but even here the details are hazy).

dlp211 7y ago

He managed to look and sound somewhat like an adult and it finally looks like the federal government is going to act competently. Also Google is going to be running the website and they are partnering with LabCorp and Quest to offer drive up testing.

sneak 7y ago
> He managed to look and sound somewhat like an adult He struggled to pronounce "coronavirus".
- dlp211 7y ago
  I said somewhat ¯\_(ツ)_/
  - sneak 7y ago
    > it finally looks like the federal government is going to act competently Testing only those with symptoms (the virus has a 4-6 day contagious incubation period) will do little to nothing to stop the spread. There are thousands, perhaps tens of thousands of people walking around asymptomatic and contagious right now, in pretty much every state in the country (as well as pretty much every country in the world). In a week it will be 2x that number. In two weeks it will be 4x that number. Imagine if you needed AIDS symptoms to get an HIV test.
    - inferiorhuman 7y ago
      Imagine if you needed AIDS symptoms to get an HIV test. Did you see how the 80s and 90s played out in the US?
    - dlp211 7y ago
      You're preaching to the choir. I think that this Administration is a complete disaster at every level and especially with regards to its response to COVID19. I've been preaching about the dangers of COVID19 since the first case was discovered in America. I'm just trying to see it from people's point of view that don't live in my reality.

jhayward 7y ago

The market seems to be responding to the removal of uncertainty about a national emergency declaration.