OFFICIAL STOCK MARKET AND ECONOMY THREAD VOL. A NEW CHAPTER

[ASE]

Thanks guys. I’ve got some questions about a 529. If they get a full scholarship let’s say, what happens to that money? At the moment my intention was using a regular account so I can create some money for her either for college, an eventual down payment for a house, or some money for a wedding. If I do 529 is that tied up strictly for schooling? What are the tax benefits?

you pay 10% on capital gains if you don’t use the money for college. Also you don’t have to use the scholarship money for school. so you can just use the scholarship money for the wedding/house instead.

 

[johnnyredstorm]

you pay 10% on capital gains if you don’t use the money for college. Also you don’t have to use the scholarship money for school. so you can just use the scholarship money for the wedding/house instead.

10% gains vs the 15 that is normally charged for a regular account? **** sign me up.

 

[degenerate423]

Wife is due in September lol

Congrats!

 

[degenerate423]

Two scenarios I’m preparing for in my mind: A) this is all temporary and economic numbers rebound shortly and we are back to ‘normal’ B) this is actually the start of something very ugly and sustained

In case of A) it’s very simple, I will heavily long the things that fell the most during this scare, as the headlines fade, particularly BRZU, will probably open the largest position in my life on it with a price target of 30+, maybe even with max leverage. If it hits I will make multi-millions.

If B) Just day trade the swings and patiently await scooping up the deals of a lifetime on quality companies.

Ofcourse there’s no way to tell which scenario will be right, i’m maybe 60% to 70% leaning towards B) due to all the underlying structural problems in the repo and bond markets but the real tells will be the jobs numbers, forward guidance, and retail sales numbers in the next month or two.

I really want scenario B to happen, so I can cash in on my metals . But, I see a bounce back happening once this corona stuff blows over.

 

[johnnyredstorm]

I’ve got some silver I wanna get rid of so bad damn 2012 fears

 

[Cryptomoon]

What’s the Monday opening looking like ?

 

[shibadekobe]

What’s the Monday opening looking like ?

Trade Weekend Wall Street | Live Weekend Wall Street Stock Index Price | Weekend Wall Street | IG UK

Weekend Wall Street [UK]

www.ig.com

-462

 

[tkthafm]

Another bloodbath...

Will the fed come swooping in again ?

The news about the CPAC attendee is major, if any high level government officials come down with coronavirus we may go limit down.

 

[johnnyredstorm]

That **** would be crazy. I hope everything comes back ok.

 

[southernhospita]

I never pay much attention to weekend wall street I only consider futures 30 minutes before open (if I don’t have any open positions )

 

[shibadekobe]

 

[shibadekobe]

I never pay much attention to weekend wall street I only consider futures 30 minutes before open (if I don’t have any open positions )

But it's so much fun to watch those Big Red Numbers

 

[johnnyredstorm]

Covid, Saudi Arabia, repo market, this is the perfect storm for a financial collapse

 

[shibadekobe]

Covid, Saudi Arabia, repo market, this is the perfect storm for a financial collapse

Waiting for that 1st Company to default or a Fund Blowup as the first shoe to drop.

 

[shibadekobe]

Crude trader Mark Fisher says WTI is heading to $32 - CNBC

 

[Gill Baka Esq. LLC.]

Did I **** up by throwing 6g's in a traditional ira for 2019 last friday?

SHould I have waited closer to the april 15th deadline?

 

[shibadekobe]

The 2020 fiscal break even price for Russia is down to $42.4 per barrel - BLOOMBERG

 

[shibadekobe]

The market now sees the Fed cutting by 75 basis points in March

Friday's stock market rout and a fresh record low in government bond yields pushed traders to assign a 65% chance of a 75 basis point reduction by the March 17-18 Federal Open Market Committee meeting

www.cnbc.com

The market now sees (prays) the Fed cutting by 75 basis points in March

 

[tkthafm]

Feels so nice to be all cash

The market now sees the Fed cutting by 75 basis points in March

Friday's stock market rout and a fresh record low in government bond yields pushed traders to assign a 65% chance of a 75 basis point reduction by the March 17-18 Federal Open Market Committee meeting

www.cnbc.com

The market now sees (prays) the Fed cutting by 75 basis points in March

Feels so nice to be all cash.

 

[shibadekobe]

*Business talking heads are panicking

 

[shibadekobe]

 

[shibadekobe]

ES -7% limit down for tonight is 2759.50

 

[degenerate423]

Crude trader Mark Fisher says WTI is heading to $32 - CNBC

Back to 2016 prices .

 

[shibadekobe]

WTI bid $39.58 in early trading

$38.40

$36.70

WTI bid $35.70 that's over 10% down

WTI $30

WTI trading limit down, freeze for 2 mins

 

[shibadekobe]

ES down huge

-4.0%