Crude Oil at -$35 per barrel at 20 minutes until market close 4-20-2020

[Grand58742]

Looking pretty grim here in Oklahoma as well. Production has completely stopped in my AO. Lots of producers are shutting in leases and waiting for prices to come back up. Cushing is almost full. Those of us that are hauling oil are not sure what each day will bring. Nobody in charge is talking.

It's going to have a serious trickle down effect here in OK. We were talking about this yesterday at work and we could see the donations that typically go to universities and colleges drying up this year as well as the donations they typically send to cultural centers.

I think the last time I saw it with the potential to be this bad was in 2014 or so.

[Mauser KAR98K]

2014 is going to look like a Boom if this situation keeps up.

[Mauser KAR98K]

Was notified today we are going on a 5 and 3 schedule. Was 6 and 2. This could last for 3 months. Summer is generally when we are the busiest.

This does not boed well for the economy as a whole.

[teufelhund1918]

Not wishing bad things on anyone and this whole situation sux. But I don't understand what is going on with the stock market. With all the bad news on the economy going on... oil price drop, unemployment at record sky highs, meat processors shutting down, crops plowed under in the fields, profit losses, etc.. etc.. Everything points to horrible economic news, but it goes up. ??? The only answer I can come up with is manipulation. Is it possible? I think I can be done by people with the big $$$.

[rjacobs]

Not wishing bad things on anyone and this whole situation sux. But I don't understand what is going on with the stock market. With all the bad news on the economy going on... oil price drop, unemployment at record sky highs, meat processors shutting down, crops plowed under in the fields, profit losses, etc.. etc.. Everything points to horrible economic news, but it goes up. ??? The only answer I can come up with is manipulation. Is it possible? I think I can be done by people with the big $$$.

Here is my take on it:

A lot of these things are known/understood/expected... so they arent "bad news" they are just "news"... and people go "yea no shit there are 20 million on unemployment".

NOW if once we start to really re-open the country(not these bits and pieces we are doing now) and the metrics dont recover or stay in the shitter, I think the market wont like that.

But for now, these are all expected things.

I also think there are a lot of things going on in the background that dont make the news cycle. I read an article 2-3 weeks ago that was from a bunch of small business owners that once they were told to shut down, they laid everybody off immediately to get them on unemployment so they(the owner) could preserve cash in order to restart and bring all these people back ASAP. The fear they had was their employees not coming back because better jobs would be available.

And a final thought is ZIRP which will be around for a long time, yet again... so these institutional investors are now living high on the hog again investing free money.

[Life's a Hillary]

Not wishing bad things on anyone and this whole situation sux. But I don't understand what is going on with the stock market. With all the bad news on the economy going on... oil price drop, unemployment at record sky highs, meat processors shutting down, crops plowed under in the fields, profit losses, etc.. etc.. Everything points to horrible economic news, but it goes up. ??? The only answer I can come up with is manipulation. Is it possible? I think I can be done by people with the big $$$.

The stock market is not the economy. Don't forget we had a massive drop off and people are betting on companies that are strong and well suited to be able to rebound quickly when this is over. We could also be seeing another dead cat bounce where things are going to take another nose dive.

[MegademiC]

The stock market is the emotion of the economy.
Its very depressed right now, so when states mention opening up, it goes up, oil war has relief, it goes up.

Its still down, its just up from the day before.

[Grand58742]

The stock market is the emotion of the economy.
Its very depressed right now, so when states mention opening up, it goes up, oil war has relief, it goes up.

Its still down, its just up from the day before.

The Dow took three years to hit 30,000 and less than a month to go back to pre-Trump levels of around 19,000. The Dow is back up almost 5,000 points from where we were a couple of weeks ago, but it's still going to take a while to rebound back anywhere near where we were in the beginning of February.

Once we start opening back up more fully, I think you'll see another thousand point gain, but it's still going to take years to hit that 30K mark again if ever.

[sundance435]

Not wishing bad things on anyone and this whole situation sux. But I don't understand what is going on with the stock market. With all the bad news on the economy going on... oil price drop, unemployment at record sky highs, meat processors shutting down, crops plowed under in the fields, profit losses, etc.. etc.. Everything points to horrible economic news, but it goes up. ??? The only answer I can come up with is manipulation. Is it possible? I think I can be done by people with the big $$$.

The market is trading entirely on sentiment right now, which is why I would recommend anyone hold off on buying in. No, the markets are not the economy, but they are a reasonable representation of the future expectations for the economy.

There is so much bad news out there for markets that traders are seemingly ignoring. All it will take is a setback with a vaccine candidate to send it back down 5-10%, because, as I said, it's all sentiment. The market has already priced in an "early open" for the economy and if that doesn't come into play, again, market is down 10%+. I've been watching the recent technical bull with trepidation as I feel it is setting us up for a lower low if things don't play out along the lines of the markets' relatively rosy assumptions.

[teufelhund1918]

The market is trading entirely on sentiment right now, which is why I would recommend anyone hold off on buying in. No, the markets are not the economy, but they are a reasonable representation of the future expectations for the economy.

There is so much bad news out there for markets that traders are seemingly ignoring. All it will take is a setback with a vaccine candidate to send it back down 5-10%, because, as I said, it's all sentiment. The market has already priced in an "early open" for the economy and if that doesn't come into play, again, market is down 10%+. I've been watching the recent technical bull with trepidation as I feel it is setting us up for a lower low if things don't play out along the lines of the markets' relatively rosy assumptions.

I'm far from understanding investing and investments, but this is what "worries" me. Lots to say about the whole situation, but investors seem to be ignoring what is actually going on vs what they hope will happen. It takes one little bit of bad or good news for the markets to go through crazy wild swings. Even though this virus crap has gone on for a while, it seems to me that they still don't know exactly what they are dealing with. Just lots of speculation on the virus. And without understanding it, they are trying to go back to "normal". Not trying to sound like Chicken Little, but people have forgotten about what happened with the flu pandemic of 1918. It seems like we are following the same path today.