Anyone got a beginners guide to stock investing? For someone who has literally no clue where to begin, but wants to take it on as a hobby.
Ah, beautiful... the closing bell sell-off... lol. Wow. I never thought I'd see something on the level of the Great Recession again, but... dayum... we're almost down 3000 points/12+% on the DOW.
**** man, was there any negative news on them? Like it might be worth holding depending on entry. This thing has been a mess, like I seriously wanted to place options due to the fed rate cut, but of course I didn't.... Would have made a lot if done right... or lost... Currently in with some on Moderna and ATYU, just debating on exit for overnight... But it's going up some, such a crazy market atm. All you need is bad news on test kits or vaccines and you'll be screwed with these...
UAL will come back once bailout I think or long play once this passes (hopefully). I'm waiting for a bit longer, and want Disney down still to like $75-80 if we get lucky. It's definitely wild atm.
From a friend in the mortgage biz: IMPORTANT SERVICE ANNOUNCEMENT! The Federal Reserve lowered the Fed Fund Rate to ZERO today and will spend $800 Billion in funding to keep rates lower. This does not mean mortgage rates will fall 1% tomorrow. It is a common believe that when the Fed drops the Fed Fund Rate, mortgage rates also fall. That is not the case. The Fed directly impact short terms rates. Just a few weeks ago, the Fed dropped the Fed Fund rate .25% and this past week, we saw rates increase over .75% in rate in one week. It was one of the quickest increase of rates in a 5 day period. There are many other factors that go into mortgage rates that I will share in another post. Check out the chart below that tracked 20+ years of the 30yr fixed rate vs. the Fed Funds Rate. The rates have differed by as much as .5% to 5.25% in rate and were not directly impacted by changes. The $800 Billion in Funding is the thing to watch as they are spending $200 Billion to directly buy mortgage backed securities to keep rates low. This does not mean rates will drop to 2% tomorrow. Trust me, I wish it would! There is a huge demand vs capacity issue with banks and mortgage lenders. $11 trillion of loans need to refinance, but the industry at max capacity can only service $2 trillion.
I'm not saying it couldn't happen, but the NYSE President was just on and she said they had no intentions of closing the market. Of course that could change. She believed doing so would cause more problems elsewhere as stop people from accessing their money.
I understand that but I think it is simply going to put the market under greater stress like this. We might get some flash crash type moments coming up as people continue to get hammered this fast. Thanks for passing it along
Great post, I just started in the industry for a major bank and we can't handle all the calls on hold for a refinance. Unprecedented. I'm new to the industry and this has been a crazy first month. Everybody thinks we're the only bank that hasn't lowered rates. One guy wanted 2% interest on an investment property re-fi and I had to less eloquently tell him what you told us today. Great stuff.
So any winners tomorrow? I still have some MRNA and some AYTU... I'm trying to wait on a few of the others discussed Disney (concerned some on backlash of having park open and then Apple attempting to buy if it dips enough - but that might be silly talk/rumor). So still hoping to have a solid entry. And I like UAL once bailout happens, just a little worried with length of this virus
Only bought 20 of Moderna today, should have done more :/. AYTU is stinking right now, do you think its worth scooping more tomorrow?
