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What were you expecting for it to go up? The news is only getting worse Unemployment has spiked to the same levels of the peak in 2009. It is just the beginning with this event.
Many Blue Chip stocks are being torn apart and reduced to penny stocks. There is now rumors floating around to close the stock market for 30 days and the talk is the quarantine will last as long as 12 weeks from now.
Some closed restaurants are opening soup kitchens Food Lines are already forming. I guarantee if you're hungry you won't care what Virus the people next to you in line have. If they close the markets so people can't trade and or get access to their cash there will be runs on the bank and they will close next.
The Media is posting death doom and gloom Panic so get used to it all your stocks will continue to fall. There is no getting around that this situation is very dire indeed.
When BA hits 20 I will look to buy those shares of yours but I read today the US government is thinking of nationalizing Boeing? GLTA
Net Asset Value
As of 3/20/2020
Name Cornerstone Strategic Value Fund
Ticker CLM
NAV 7.55
Price 6.82
Premium/Discount To NAV -9.72
Shares Outstanding 75,292,743
It's going get a whole lot worse. The unemployment numbers have already exploded to the peek of 2008-9 crisis and it has only just started.
45 for sure!
Even if the government steps in and bails out the airlines, the automakers, the cruise ship operators, and any other industry that's struggling, it's only to keep the lights on.
A bailout, no matter how big, isn'tgoing to generate revenue and profits.
Without revenue and profits, it becomes incredibly difficult to determine what a company is actually worth.
And right now, we're not even close to the bottom. Stocks might look cheap, but if the markets have another 10, 20, or 30% drop in them (and they might), then they're going to be even cheaper when the dust settles.
Keep calm and buy put options.
Whoa shouldn't Boeing been doing that! Just Maybe Business too big to fail should have been squirreling away for a rainy day?
Maybe "citizens" need to learn to squirrel away nuts in good times, and live more modestly.
Fewer cruises, fewer giant SUVs.
In case you haven't notice DCP has been reporting loses from those operations. There is no way they will continue to pay out .78
When stocks fall 70-80% they cut or shut down the dividend stream. Oils will remain dead as inventories overflow from the global shutdown.
Just the SAD Facts
Well with commission less trading I agree with you on small trades and scaling in!
I just think the current situation with still very unknown factors and the Media is still pouring out death and doom. This is a first for the entire Globe to be in Business shut down and Human quarantine. That will have a cascading economic down draft! Depending on how long it last and the actual deaths?
I could see this easily dropping lower than 50 a share? Preserve cash and trade small is the word of the day.
GLTY
Be careful I watched IBM drop to 45 in the 87 crash. This one is 10 times worse. IBM could easily fall to 50 or below. The whole globe has been shut down.
This is very serious and will linger on a couple more months with really bad news before it gets better.
Plenty of time to get in don't rush and trade small!
Why? It will be going down more. This shut down of the globe will linger on for months. Look at IBM CAT CVX HON the're all going back down below a hundred with some below 50.
This crisis is very serious and will get worse before it gets better.
WOW BYND keeps dropping hard to sell puts cheep enough still managed to have my 45 strikes expire worthless so get to keep that premium!
I was able to sell the 35 strikes for next Friday. Just a week ago the contracts only went to 40 now they have them all the way to 30.
What did this IP at 40 or something? Markets not happy. Cant's sell imitation meat when the restaurants and food service business's are shut down.
This is Ugly situation
You couldn't possible live as cheep as I do. LOL I am sure you are doing just fine all joking aside.
I have a fruit farm with NO Mortgage no need for home insurance. I am a farmer with plenty of food and my life style has not changed One IOTA. Was outside Tilling my garden today than because the market opens at 3:30 I came in relaxed and collected 3.00 on 2 BA 55PUTs and 2 contracts of Honeywell so my week went just fine!
My first 15 years here I even lived without a car. I would like to see you do that in America.
Ya sure of course many people live beyond there means that is the American Program. Only this time the bubble is bursting. I am looking forward to buying those 20 dollar BA shares from you at a discount soon!
You can boast about how well you have done all you want However even you are looking at a much reduced size in your estate and the fall out is not over yet!
Second respond to your post. This IS 5 times worse that 911. I was living in Vermont then and had a nice retail Crafts and Jewelry store in Manchester a ski resort town. I was crushed by the financial fall out. Customers stopped buying Luxury goods and I had inventory lines of credit fully wide open I couldn't keep up with. I gave up a month after and liquidated everything and got 100% out of debt and have never borrowed a penny since!
I sold my home and moved to Ukraine. My son was in Brooklyn in collage at the time and they went on some roofs and watched the buildings come down.
911 was an attack and was terrible but it pales in comparison as to what is happening with the economy now. We better wake up fast or we're all down for the count.
Won't matter if Americans can't travel and forced to stay in there homes with no job or income? There going have to bail out the citizens or face depression and food lines Period.
Can someone help me out and explain how we can turn this around? Simply put you can't shut down the economy and expect something good to happen. It's gone too Far now. 10's of millions will perish from poverty not the Virus!
Coronavirus Bear Market Intensifies As Economy Shuts Down; GM, Tesla, Boeing, Amazon, Domino's In Focus
https://finance.yahoo.com/m/c5f1a838-4964-3367-a121-77f75bfe471d/coronavirus-bear-market.html
I made OK this week selling Puts got a 3 dollar dividend selling BA Puts at 55 dollar strike price. They will be removed out of my account tomorrow morning and I keep the 600 dollars. Have another ready for next Friday However BA could be trading in the 50's at this rate of decline.
I also Pocketed 2 contracts on Honeywell at 110. It closed at 112 so I was biting my nails. It is dropping so hard and fast I can't sell puts low enough!
I am starting to get the impression that this is the next Great Depresion?
Sure it does they will just make you test weekly and punch your card!
Good grief this whole thing doen't make sense. We are on tract to collapse the entire globe.
How long can people go without jobs and money? The bank runs will be next as this cascades down. Along with food lines and soup kitchens!
Then in a month or two when everyone settles down and there still alive it will be too late to fix the damage done!
SO Yes I agree we aint out of the woods yet! I will be ready to buy those 20 dollar BA shares a certain poster says they will never sell and could of unloaded at 400 dollars but didn't because trading stock is not good!
Sorry to say I agree the Media is going to take us down. I mean a nut case Doctor was posting today Millions could possibly die from Corona Virus!
Good lord if even that was true Why would that be in the news? Talk about a calamity and panic.
The news has nothing good to say. Now there talking about the surging unemployment rate exploding! Gee it doesn't take a rocket scientist to understand if you shut down the GLOBE to travel and quarantine the population from going to work you're going to collapse the system!
Next there going to make you carry registered certified Virus Free cards you get when to test negative for the virus so you can go back out in public!
I am looking at electric companies that I will keep selling Premium on till I get put and then take ownership. I mean if they shut out the lights the Market will have already been shut down!
stop my SS payments! I use BOA as my bank TD amertrade as my main brokerage and Wells Fargo for the 401k Plus I do have a US address in MO but my permanent residence is here so they could create havoc if they determined I was a bad boy!
After I am a US citizen and I did pay into the system my entire working career..
Back on subject I just need BA to close above 55 to watch the expired puts I sold this week removed. Nice Plus I sold 2 more for next Friday at the same price!
This volatility is insane
The Mail I receive from the IRS somehow still somehow manages to arrive at my foreign home.
I was out rototilling in my Garden and I see the same planet earth that you do. The stars at night in the norther hemisphere are the same.
Because we became a Global economy we will all crash and burn together!
Look out your window, what do you see?
LOL I am!
LOL! Imagine if you were an American.
RUT ROW President Trump is speaking again! I get nervous every time...LOL
Ya I could and would if they need help! I have a 2 hector Fruit ranch here in Ukraine. Problem is they wouldn't be able to get here if the planes aren't flying!
Currently here we are on LOCKDOWN no Foreigners allowed in. The planes buses and trains have all been shut down. The only thing open is gas stations and food grocery stores.
They have even set up Check points on the roads where they check if you have a temp ---Little temp and it's off to confinement. Pretty silly actually that would be a great way to spread it even more.
The Masks people are wearing crack me up! Have you ever tried staying in a mask all day long? Even Doctors change them with every operation. Besides if someone has the virus and uses a mask what happens to the billions of TOXIC waste mask?
More Plastic and virus in the waste pile great plan!
So What next we all need certified Papers to walk the streets! LOL This thing is way over blown for a new fancy named Cold!
you can rest assure they won't be paying out $2.00 a share! Probably cut in line with the drop down to .50 or wipe it out entirely. Ford just cut there's entirely today. The days of nice dividend returns is over for a long time!
WOW $1644.00 traded hands in this issue today!
That is not what I call a liquid stock just imagine what would happen if everyone ran for the exit at the same time?
I'll check in from time to time just to keep an eye on things I got ya covered!
Cheers Mate
The only kind! I'll take a couple of loafs! Looks like we have the first some what stable trading day in the last 21.
Is this capitulation or more crash and burn to come?
They still keep talking gloom and doom..
I need tomorrow to be a good day for the good kids so I can go home with a paycheck!
Cheers Guys and Gals
Ah Corona Free! I could live with that...
I could use some more bread? Hope that is acceptable!
No need to rush right now things are very unpredictable still. The bottom will be reached but we're not there yet!
Well aint that a deal maker! I guess we all new that was on the way...
I guess that has already been factored in doesn't seem to be effecting the price?
Well all is good BA now under 100 dollars I have 55 dollar puts I sold that will most likely expire worthless. Life is good!
LOL again just noticed another concern of yours!
Fruit is loaded with sugar, just can't imagine that's a good thing.
Ok so I miss spelled 'saliva' edit time has passed so get over it!
I do like golf and do curse all the time! So just maybe we have something in common!
I guess we are slightly off topic however hard to believe BA and many issues are now down 50-90% in just 3 weeks!
I am so tempted to buy in on some but with this global shut down I will wait a few weeks to see where the dust settles!
WOW nope the crisis is very bad here except they went into panic mode with only 10 known cases! Many people here work in Italy and send money back to the family.
Well low and behold someone came back from Italy and Bam total lock down took place.
It is so bad now that everything is shut down. In fact today after day 4 of quarantine they set up road checks and make you stop and they take you in a house and check your temperature Have a Temp you shuffled off to confinement! NO JOKE
Children are not allowed to be on the streets and if caught the parents will be fined and sent to Jail NO JOKE.
Schools are closed indefinably and I don't see any light at the end of the tunnel!
Europe is in total panic shut down mode. That is why even though I don't care for trump I think folks should give him a little slack he like every other leader can simply do nothing but wait it out like the rest of us!
Ok this is my second response to your questions! LOL
As far as apples at this time of year of course you are eating last years apples! I pick my apples in October November and place them in a root cellar. About 20 crates and each crate weights about 15 kilo's. Generally they last until June at which time I have early apple trees to resume the cycle .
Our teeth are designed to grind and press our food to make juice we are not Carnivores like so many people think! In fact it is important to properly grind our food so we add the right amount of Slavia to start the digestive process before it enter our sumac!
I see we both like golf so That is a good thing!
Again ROTF I turn 66 3/26 born 1954 Disclaimer I do collect SS I also have daughter 12 years old (2cd family) that I also get benefits from!
I live on the way and in the middle of nowhere! Actually I am in Ukraine right now the specific address is more information than anyone needs to know!
I too didn't believe you could live on fruit either However under much research and study plus actual practice I found that Is exactly how our bodies are designed.
I stopped trying to promote this and teach this as most SAD diet Americans are in never never land and it is a waste of time! The thing I can assure you of the coronavirus is a total joke to me! Far many more millions will die from the poverty we are creating than from the Virus!
If you want to eat Meat, Sugar, oil, salt ,dairy, bread Have at it! Good luck is all I can say!
Since Americans are being forced to take a holiday NOW would be a great time for them to take a solid food holiday on water only for 3 weeks just to clear the mind. It will change there health and life for the better for ever!
Over and out!
ROTF that would include you and me! I will tell you right now I fear nothing because I eat our species specific diet that is fruit only uncooked food haven't been sick in years!
The reason this is happening is because the world humans 90% eat Chit. Not only that we are about to find out what climate change really means ! The air pollution is clearing so we will accelerate the warming as the sun will not be blocked by our pollution!
To top it off I have a 2 hector fruit ranch with a root cellar stocked with apples from last season and 100 gallons of marvelous dry red wine from my grapes. I did stop drinking a few years ago but under the current Quarantine regiment I think it is time to come out of retirement!
The only crash that you can compare this to is the Great depression! I mean it's one thing to have business take a downturn but to tell the entire Globe you need to go home and relax on Holiday a while with no job or income is absurd! This appears to be the demise of our current system! Cash under the mattress seems to be the only safe place to be. Problem being is where are you going to spend it if everyone is closed? . The difference today is with the internet it is happening over night!
Factor in that small business is being forced to close with no compensation and you only can compare this to the demise of the roman empire!
Preserve cash and trade small till the storm passes over!
Oh I know I actually owned this just 2 weeks ago I had 105 dollar shares and bought 100 dollar puts. Covered them at 85 should of just stayed with it as those Puts would have expired Friday!
Oh well can't call them all sure looks inviting now though!
WOW destroyed! Don't think you will be seeing anymore dividends here!
I am thinking about selling puts tomorrow myself! this is surreal !
I am impressed they didn't!
Orchid Island Capital (NYSE:ORC) declares $0.08/share monthly dividend, in line with previous.
Forward yield 25.67%
Payable April 28; for shareholders of record March 31; ex-div March 30.
ROTF can't stop laughing!
My spousal_unit is still ticked I bought Spam for Y2K.