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The U.S. Senate overwhelmingly approved a $2 trillion relief package Wednesday night designed to alleviate some of the worst effects of the swift economic downturn currently underway as a result of the coronavirus pandemic.
https://www.npr.org/2020/03/25/818881845/senate-reaches-historic-deal-on-2t-coronavirus-economic-rescue-package
Ahead of the 96-0 vote, Senate Majority Leader Mitch McConnell (R-Ky.) told lawmakers, "Our nation obviously is going through a kind of crisis that is totally unprecedented in living memory."
The plan marks the largest rescue package in American history. The legislation covers an array of programs, including direct payments to Americans, an aggressive expansion of unemployment insurance, billions of dollars in aid to large and small businesses, and a new wave of significant funding for the health care industry.
The agreement is an expansion of a Republican legislative proposal issued last week, dubbed the CARES Act — the Coronavirus Aid, Relief, and Economic Security Act — to provide relief to virtually every rung of the U.S. economic ladder.
Among the deal's key provisions:
-The plan will rush financial assistance to Americans with direct checks to households in the middle class and in lower income levels, McConnell said. Previously, Republicans said this would amount to $1,200 to most American adults, among other payments.
-An extended unemployment insurance program for laid-off workers that will allow for four months of "full pay," according to Schumer, rather than the usual three months for most. It will also raise the maximum unemployment insurance benefit by $600 per week. It will apply to traditional workers for small and large businesses as well as those who are self-employed and workers in the gig economy. This was a key Democratic initiative, which Schumer dubbed "unemployment insurance on steroids."
-More than $150 billion for the health care system, including funding for hospitals, research, treatment and the Strategic National Stockpile to raise supplies of ventilators, masks and other equipment. Of that, $100 billion will go to hospitals and the health system and $1 billion to the Indian Health Service.
-$150 billion to state and local governments to address spending shortages related to the coronavirus pandemic.
$350 billion in the form of loans for small businesses impacted by the pandemic; some of those loans could be forgiven.
The House will take up the measure on Friday, according to House Majority Leader Steny Hoyer (D-Md.). To protect members from the risks of exposure, the House will hold a voice vote on the bill.
https://www.npr.org/sections/coronavirus-live-updates/2020/03/26/822248693/u-s-surpasses-china-in-cases-of-coronavirus
According to data compiled by Johns Hopkins University, the U.S. had 82,404 cases as of 6 p.m. ET Thursday, while China had reported about 81,800 cases. In China, where the epidemic started in December, almost 3,300 people have died, while in the U.S., the toll stands at about 1,200. In Italy, there have been about 8,200 deaths.
Sanders dragged down the market today
DOW drop from +4% to +2%
NASDAQ from +3% to -1%
at last few minute trade
Biggest Gainers of the day
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https://finviz.com/groups.ashx?g=industry&v=110&o=name
UWM ~> signs of turn around,
but need to pass resistance at low 30's first
https://stockcharts.com/c-sc/sc?s=UWM&p=D&yr=0&mn=6&dy=0&i=p55889411466&r=2390
As-of-3/24/2020
Russia2000 showing signs
of turn around, but need to pass resistance at low 30's first
https://stockcharts.com/c-sc/sc?s=UWM&p=D&yr=0&mn=6&dy=0&i=p55889411466&r=2390
As-of-3/24/2020
European markets set to rebound amid positive global reaction to Fed stimulus
https://www.cnbc.com/2020/03/24/european-markets-react-to-fed-stimulus.html
Global stock markets are being boosted by the Fed’s pledge Monday that it will run an open-ended asset purchase program amid the global coronavirus outbreak.
The central bank said the program will run in the “amounts needed to support smooth market functioning and effective transmission of monetary policy to broader financial conditions and the economy.”
The pledge is a new chapter in the Fed’s “money printing” as it commits to keep expanding its balance sheet as necessary, rather than a commitment to a set amount.
Shares in Asia jumped in Tuesday afternoon trade in reaction to the Fed, with shares in Japan and South Korea leading gains among the region’s major markets.
Federal Reserve Chairman Jerome Powell's whatever-it-takes moment arrived Monday.
The central bank signaled it would do practically anything -- extending loans to big and small businesses and purchasing unlimited amounts of government debt -- to help an American economy in a race against time.
After firing its arsenal at funding markets last week to prevent a public health crisis from morphing into a financial crisis, the Fed said it would throw another kitchen sink this week at credit markets that have broken down. The central bank unveiled a new generation of lending facilities to prevent a liquidity crunch from turning into a solvency crisis for American businesses.
"This is the first time they've really basically turned into a commercial bank instead of a central bank," said Michael Feroli, chief U.S. economist at JPMorgan.
The central bank's announcement came as lawmakers on Capitol Hill debated a plan to help reload the Fed's weaponry. The Trump administration and Senate Republicans proposed Sunday providing $425 billion to the U.S. Treasury that could be used to expand the kind of lending programs the Fed unveiled Monday. The bill hit a procedural roadblock after Democrats said it needed to do more to aid individuals facing unemployment or lack of income.
Monday's announcement was "really encouraging because the Fed didn't wait for Congress to pass this bill," said Tiffany Wilding, economist at Pacific Investment Management Co. "I don't think the markets could have waited."
The central bank punctuated its moves, announced 90 minutes before markets in the U.S. opened Monday, with an unusually explicit warning about the perils ahead.
"It has become clear that our economy will face severe disruptions," the Fed said in its statement Monday morning. "Aggressive efforts must be taken across the public and private sectors to limit the losses to jobs and incomes and to promote a swift recovery once the disruptions abate."
https://ih.advfn.com/stock-market/stock-news/82063547/fed-unveils-major-expansion-of-market-intervention
did you watch
Bill Ackman's plea to President Donald Trump to save U.S. from coronavirus' economic destruction
will sit and get Frozen,
thanks
Ditto, LOL
A Coronavirus Black Swan Event Could Spark Gold Rally
https://finance.yahoo.com/news/coronavirus-black-swan-event-could-164146729.html
In the capital markets, the term “black swan” is not to be taken lightly, unless you're a bullish gold trader--then it's time to get heavy on precious metals. The coronavirus is putting a mixed martial arts-like stranglehold on the markets and if it turns into a black swan event in China or other parts of the world, it could spark a gold rally.
“For gold really to move, it would be some kind of exogenous shock, which might push it higher,” Rhona O’Connell, INTL FCStone head of market analysis for EMEA and Asia Regions, told Kitco News.
Gold has been mired in a range-bound price movement, currently standing at about $1,580 per ounce. However, a black swan event could break break gold prices free.
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A Day After Fed Takes New Action, Repo Demand Is Still Light
http://ih.advfn.com/stock-market/stock-news/82004208/a-day-after-fed-takes-new-action-repo-demand-is-s
The morning after the Federal Reserve fired its most available weapons to help the economy navigate the coronavirus threat, demand for its temporary liquidity again fell well short of what the central bank was willing to provide.
On Monday, the Fed offered eligible banks two repurchase agreement operations, or repos. In the one-day interventions, so-called primary dealers sought $129.6 billion in loans versus the $175 billion the Fed was willing to provide. The Fed's repo operation with a $500 billion cap that runs until April 13 garnered even more modest demand, with dealers taking $18.45 billion.
Later Monday morning, the Fed announced that it would offer a second repo operation with a $500 billion cap, even as its earlier foray saw limited interest. In announcing the action, the Fed said "this action is taken to ensure that the supply of reserves remains ample and to support the smooth functioning of short-term U.S. dollar funding markets."
Federal Reserve slashes rates to zero, restarts QE
https://finance.yahoo.com/news/federal-reserve-cuts-rates-to-zero-restarts-quantitative-easing-qe-210001968.html?.tsrc=bell-brknews
The Federal Reserve made an emergency announcement Sunday afternoon by announcing that it would be cutting interest rates to zero for the first time since the financial crisis.
The central bank said it will use its “full range of tools” to battle the economic impacts of the novel coronavirus and announced quantitative easing in the form of at least $700 billion of asset purchases. It also encouraged banks to provide credit to the economy by eliminating reserve requirements and allowing the financial firms to tap into capital and liquidity buffers.
In a global effort, the Fed also announced standing U.S. dollar liquidity swap line arrangements in coordination with the Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, and the Swiss National Bank.
“The Federal Reserve is prepared to use its full range of tools to support the flow of credit to households and businesses and thereby promote its maximum employment and price stability goals,” the Fed said in a statement.
The Fed said the coronavirus outbreak “harmed communities and disrupted communities in many countries,” adding that the U.S. labor market still appeared “strong” as the U.S. economy rose at a “moderate rate.”
But the Fed on Sunday slashed rates by 100 basis points, less than two weeks after it had already made an impromptu 50 basis point cut.
“The Committee expects to maintain this target range until it is confident that the economy has weathered recent events and is on track to achieve its maximum employment and price stability goals.”
The Fed also resumed the crisis-era policy of large-scale asset purchases by committing to Treasury purchases of at least $500 billion and agency mortgage-backed securities of at least $200 billion “over coming months.”
President Donald Trump on Friday declared a national emergency over the coronavirus pandemic, and announced a set of specific measures aimed at stemming the effects of the outbreak.
Stock marked indices sharply rallied during Trump’s press conference , posting their largest single-day gain since October 2008. The Dow Jones Industrial Average closed 1,985 points higher, or 9.4%, at 23,185.62., the index’s biggest-ever point gain on a single day.
https://www.cnbc.com/2020/03/13/trump-will-hold-a-press-conference-at-3-pm-et-to-discuss-coronavirus-response.html
Trump to buy oil for strategic reserve to aid energy industry
https://www.cnbc.com/2020/03/13/trump-asks-energy-department-to-purchase-oil-for-the-strategic-petroleum-reserve.html
President Donald Trump on Friday said he’s directed the U.S. Department of Energy to purchase crude oil for the Strategic Petroleum Reserve in an effort to support the battered energy sector.
“Based on the price of oil, I’ve also instructed the Secretary of Energy to purchase at a very good price large quantities of crude oil for storage in the U.S. strategic reserve,” Trump said.
ERX showing some life
Dow Plunges 2,300 Points: Stocks In Meltdown As Panic Selling Continues
https://www.npr.org/2020/03/12/814853898/stocks-in-meltdown-over-trumps-coronavirus-plan
Click links below for charts
___0-0___stockcharts.com/c-sc/sc?chart=TVIX,uu[430,450]dacayaci[pb50!d][iua12,26,9!ul14!uv20][fjqg1.gif ][tag][/tag]
___0-0___stockcharts.com/c-sc/sc?chart=TVIX,uu[430,450]dacayaci[pb50!d][iua12,26,9!ul14!uv20][fjqg1.gif ][tag][/tag]
Dow Plunges 2,300 Points: Stocks In Meltdown As Panic Selling Continues
https://www.npr.org/2020/03/12/814853898/stocks-in-meltdown-over-trumps-coronavirus-plan
Click links below for charts
SPXL-5D15min___0-0___SPXL-3M1d___0-0___TVIX-3M1d
DOW drops 2013 today
after oil price dropped more than 20%
https://stockcharts.com/freecharts/candleglance.html?SPXS,SPXL,vigix,viiix|B|D20|0
After market close, Dow Jones Futures Surge As Trump Eyes Payroll Tax Cut; Coronavirus Stock Market Correction On Cusp Of Bear Market
https://finance.yahoo.com/m/14395cf2-e499-32d4-9f37-3c91823f3ab2/dow-jones-futures-surge-as.html?src=A00220&yptr=yahoo
Saudi Oil Price Cut Is a Market Shock With Wide Tremors
Oil producers in the United States and other nations brace for lower revenue, reduced investment and job losses as a global glut is compounded.
https://www.nytimes.com/2020/03/09/business/energy-environment/saudi-oil-price-impact.html
Saudi crackdown: King Salman's brother and nephew detained
https://www.aljazeera.com/ajimpact/saudis-detain-mohammed-bin-salman-brother-nephew-200306232853929.html
Saudi Arabian authorities detained a brother and a nephew of Saudi King Salman in a move that extends a crackdown on royal relatives by his son Crown Prince Mohammed bin Salman.
Prince Mohammed bin Nayef and Prince Ahmed bin Abdulaziz al Saud were arrested on Friday and accused of treason, a person familiar with the matter said. Prince Mohammed’s brother, Nawaf, was also detained with him at a desert camp, the person said.
Shale’s New Reality: Almost All Wells Drilled Now Lose Money
https://finance.yahoo.com/news/shale-reality-almost-wells-drilled-215236012.html
U.S. Stock Futures Jump After Dropping to Brink of Bear Market
https://finance.yahoo.com/news/u-stock-futures-whipsaw-markets-224141559.html
Oil markets tumbled more than 30%
after the disintegration of the OPEC+ alliance triggered an all-out price-war between Saudi Arabia and Russia that is likely to have sweeping political and economic consequences.
Brent futures suffered the second-largest drop on record in the opening seconds of trading in Asia, behind only the plunge during the Gulf War in 1991. As the global oil benchmark plummeted to as low as $31.02 a barrel, Goldman Sachs Group Inc. warned prices could drop to near $20 a barrel.
https://finance.yahoo.com/news/oil-freefall-saudis-slash-prices-220853405.html
3x Play
|| ETF Summary ||
http://www.leavittbrothers.com/stocks-options-futures-trading-reports/2008/11/etfs.cfm
https://www.direxion.com/etfs
https://www.proshares.com/funds/
Russell2000 TNA/TZA 2x(TWM/UWM)
S&P500 SPXL/SPXS
Semiconductor SOXL/SOXS
https://finviz.com/futures.ashx
3x ETF: SDOW,UDOW,SQQQ,TQQQ,SPXS,SPXL,TZA,TNA,SSG,SMH,FAZ,FAS
https://stockcharts.com/freecharts/candleglance.html?sdow,udow,sqqq,tqqq,spxs,spxl,tza,tna,ssg,smh,faz,fas|B|D20|
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=145855674
3x Long
3x Short
https://investorshub.advfn.com/Direxion-3X-Russell-Funds-BGU-14525/
Natural Gas is showing some life
https://finviz.com/screener.ashx?v=211&f=ind_independentoilgas
Thanks!
just a little Luck!
Thanks for your
hard works for organizing and managing the contest!
Thanks!
thanks, it is a close race!
thanks, Coach Andy deserves it!
thanks, it's a fun game!