Black Monday

[BlackPeter]

one day dont make a trend , so im not panicking the sell - off was mainly in big tech

Fair enough ... on the other hand, wasn't it mainly big tech driving the recent heights?

[bull....]

Fair enough ... on the other hand, wasn't it mainly big tech driving the recent heights?

yep , so your probably get forced margin selling tonight at the open by the late comers i reckon

[bull....]

now we know what caused the rapid run up in the nasdaq in august it remains to be seen if we get the swoon on the downside this month since the buying has potentially been outed.

Softbank identified as the ‘Nasdaq whale’ that bought billions in stock options, betting on higher prices for the biggest names in tech


https://www.cnbc.com/2020/09/04/soft...n-options.html


bloomberg saying that it was softbank and retail day traders front running softbank

Small day traders have spent $40 billion in call premiums in a month, data he compiled from the Options Clearing Corp.

https://www.bloomberg.com/news/articles/2020-09-05/huge-swings-in-options-overrun-stocks-leave-fund-manager-baffled?srnd=premium-asia

[Hoop]

I have just finished reading the ASB Quarterly Economic Forecast (released today 7th September)

[peat]

I have just finished reading the ASB Quarterly Economic Forecast (released today 7th September)

and posted about it in the Black Monday thread hahah

actually it says
- economy better than expected , though still taken a hit
- global recovery to be gradual and disrupted.


John Ryders commentary this morning noted

statistical analysis shows that locking down the US economy didn’t contain the disease’s spread and reopening it didn’t unleash a second wave of infections.

thats quite a stunning piece of information in my opinion

[Norwest]

I have just finished reading the ASB Quarterly Economic Forecast (released today 7th September)

These are always a good read, sombre mid-long term forecasts but it's exactly what you would expect.

[Jaa]

and posted about it in the Black Monday thread hahah

actually it says
- economy better than expected , though still taken a hit
- global recovery to be gradual and disrupted.


John Ryders commentary this morning noted

statistical analysis shows that locking down the US economy didn’t contain the disease’s spread and reopening it didn’t unleash a second wave of infections.

thats quite a stunning piece of information in my opinion

What is stunning is that you are taking public health advice from an economist. Hope you don't get your investment advice from your dentist.

[Zaphod]

These are always a good read, sombre mid-long term forecasts but it's exactly what you would expect.

Yes, I think there's a lot of pain to come yet especially once companies begin right-sizing. I do wonder whether all these returning NZers will be able to secure jobs, and if not, what are their plans?

[Baa_Baa]

Yes, I think there's a lot of pain to come yet especially once companies begin right-sizing. I do wonder whether all these returning NZers will be able to secure jobs, and if not, what are their plans?

For sure this is going to play out for a long while yet, and it's not pretty for many though some will profit handsomely. Maybe a change in strategy from working for a living and diligent saving and investing, to selling the family home to some dumb ex-pat online sight unseen for twice or three times what we'd get locally and retire early... that's a lol, by the way. Though time to recalibrate ones thinking about the immediate to medium term future.

[peat]

What is stunning is that you are taking public health advice from an economist. Hope you don't get your investment advice from your dentist.

i tend to rate people not unproven skillsets. For instance an economist can be a useless fool graduate promulgating his corporate views, (eg I didnt bother reading the whole ASB report Hoop linked to), or he can be an intelligent astute individual who has started majorly successful companies and have a good grip on the world around him who shares his views, and in my experience after quite a few years of hearing those views I rate him better than most. Its not public health advice in any case it is commentary on the benefits or otherwise of the public health policy that was implemented.

All I can say watching the TV news is that I've never seen so many epidemiologists!!

My dentist is a councillor and major heritage property owner around the region , so he's doing okay for himself too fyi. We talked Tesla but he's a bricks and mortar man.