The Coronavirus thread

Quote: reno

I can understand why stocks & oil would fall as Wall Street reacts to coronavirus. But why is gold also falling? I thought investors flocked to gold during bear markets.

Strafing the lifeboats?

Covid 19

Hey Nineteen
No we got nothing in common
No we can't talk at all
Please take me along
When you slide on down

https://youtu.be/5J7IrPVLc4U?t=48

Steely Dan

Quote: rxwine

Covid 19

Hey Nineteen
No we got nothing in common
No we can't talk at all
Please take me along
When you slide on down

https://youtu.be/5J7IrPVLc4U?t=48

Steely Dan

I prefer the live versions
Walter Becker will usually talk and tell some stories in the middle of the song
here's one of his raps in the middle of the song

Mike Huckabee quote on Laura Ingraham's show

“Laura, he could personally suck the virus out of every one of the 60,000 people in the world and suck it out of their lungs, swim to the bottom of the ocean and spit it out and he would be accused of pollution for messing up the ocean if he did that. There’s nothing this president can do that will ever satisfy the people who hate him more than they hate the coronavirus.”

WTF
Did ol Mike just get a blowjob from Laura? Laura doesn't swallow???????

Quote: AZDuffman

No they flock to gold during unrest and distress. Coronavirus is neither and will pass by spring no big deal.

Is the market overreacting? Why do you think the market is so spooked?

Quote: reno

Is the market overreacting? Why do you think the market is so spooked?

I haven't heard one thing yet in the business sector that is an overreaction. Many businesses can't function normally if they have some connection to infected areas. Some may, it they can work out a process for dealing with virus before there is a vaccine, or there is more known information on it generally. But I don't know how long that will take. Workers are going missing if they might have the virus. People have to take care of their kids if the schools close.

Quote: rxwine

Many businesses can't function normally if they have some connection to infected areas.

In 2019, General Motors sold 3.09 million vehicles in China.

Quote: The Guardian

Car sales in China have collapsed by 92% as the coronavirus shutdown wreaks havoc on the automotive industry.

The China Passenger Car Association (CPCA) said “barely anybody” had looked to buy vehicles in the first half of February. Most dealerships have remained closed as a precaution.

The plummeting domestic sales – down 96% in the first week of February and 92% across the first half of the month – come days after Jaguar Land Rover revealed it was currently making no sales in China..

Dr DREW PINSKY: We have in the United States 24 million cases of flu-like illness, 180,000 hospitalizations, 16,000 dead from influenza. We have zero deaths from coronavirus. We have almost no cases. There are people walking around out there with the virus that don’t even know they have it, it’s so mild. So it’s going to be much more widespread than we knew. It’s going to be much milder than we knew. The 1.7% fatality rate is going to fall. Where was the press during the Mediterranean Corona outbreak, where the fatality rate was 41%? Why didn’t they get crazed about MERS or SARS? This is an overblown press-created hysteria. This thing is well in hand.

Quote: reno

Is the market overreacting? Why do you think the market is so spooked?

The markets move as a herd. Short term
Traders trade not invest. Heck I made a short play in a small way but went too far out waiting for a fill the priced in theta is making it hard to take my profit. May have to adjust.

Two years ago didn’t we have a December correction?

Ask yourself if the scaremongering has actually affected your life.

The market "overreacts" on a nearly daily basis.

Interest rates are going down, which should drive people to refinance.

As long as the general population does not overreact for too long, we'll have some hiccups (supply chain interruptions are not good, of course) but things will move on.