Stock market on fire

[The Heretic]

How are your portfolios looking today?

I don't want to know.

It will just depress me.

Let me know when the DIJA and S&P get back to their previous highs.

 

[The Heretic]

 

[CountryGent]

How are your portfolios looking today?

 

[bolus]

Melvin Capital to Close Funds, Return Cash to Investors

The move caps a stunning reversal for a firm that lost big on the surge in meme stocks in the early days of the Covid-19 pandemic.

www.wsj.com

You guys want some of this popcorn, This show is amazing!

Who's next?

 

[bolus]

Reverse repo new high score today. $1.973 trillion

Overnight Reverse Repurchase Agreements: Treasury Securities Sold by the Federal Reserve in the Temporary Open Market Operations

Graph and download economic data for Overnight Reverse Repurchase Agreements: Treasury Securities Sold by the Federal Reserve in the Temporary Open Market Operations (RRPONTSYD) from 2003-02-07 to 2024-03-01 about reverse repos, overnight, trade, securities, Treasury, sales, and USA.

fred.stlouisfed.org

Rate is 0.08% so the banks get to split a cool $2.3 million overnight profit. (if my math is right which it probably isnt)

Now I wonder if there is anything else that would benefit from $2.3 million in free money every day for basically 2 years besides the banks? Probably not, they deserve it, Im sure.

 

[bolus]

So the SEC just had all their power stripped form them

SEC in-house judges violate right to jury trial, appeals court rules

The Securities and Exchange Commission's in-house judges violate the U.S. Constitution by denying fraud defendants their right to a jury trial and acting without necessary guidance from Congress, the 5th U.S. Circuit Court of Appeals ruled on Wednesday.

www.reuters.com

They cant use their own in house judges.

I assume this means any alphabet agency doing the same thing is at risk? Does anyone know if the ATF uses their own in house judges?
I'd love for this to apply to every agency. pleasepleaseplease

 

[Bam]

Bear market achieved!

 

[jayR]

Ruble has revalued upward 60 per US

 

[arakboss]

Ruble has revalued upward 60 per US

How many rubles to get a big mac?

 

[bolus]

1.987 trillion reserve repo. New high score!

Overnight Reverse Repurchase Agreements: Treasury Securities Sold by the Federal Reserve in the Temporary Open Market Operations

Graph and download economic data for Overnight Reverse Repurchase Agreements: Treasury Securities Sold by the Federal Reserve in the Temporary Open Market Operations (RRPONTSYD) from 2003-02-07 to 2024-03-01 about reverse repos, overnight, trade, securities, Treasury, sales, and USA.

fred.stlouisfed.org

remember when leman brothers used accounting gimmicks with repo loans to hide a measly $80 billion debt that lead to their demise? I'm sure that is absolutely not going on anymore. Even though there were no new regulations to prevent it from happening again I'm sure they all learned their lesson.

 

[pharmseller]

MULN is gonna make me rich.

 

[The Heretic]

 

[bolus]

$2 trillion daily reverse repo for 97 counterparties. Completely normal open market activities. Who are these 97 banks propping up?

 

[The Heretic]

Top 10 Benefits Of Putting All Your Money Into Gold

Enjoy eating food? Like having a healthy family? Then you'd better drop all your money into gold right now!

babylonbee.com

 

[RicInOR]

WE MIGHT SOON BE LOOKING BACK FONDLY AT THE MALAISE YEARS: There's No Stopping a Recessionary Reckoning. "If there was only one causal factor nudging the economy into recession, it might be a mild, brief recession. But with all five conditions in confluence, this recession will be unlike any other."

Instapundit » Blog Archive » WE MIGHT SOON BE LOOKING BACK FONDLY AT THE MALAISE YEARS: There’s No Stopping a Recessionary Reckon…

WE MIGHT SOON BE LOOKING BACK FONDLY AT THE MALAISE YEARS: There’s No Stopping a Recessionary Reckoning. “If there was only one causal factor nudging the economy into recession, it might be a mild, brief recession. But with all five conditions in confluence, this recession will be unlike any other.”

instapundit.com

 

[ma96782]

NOW, for a Music Break (while I watch my portfolio grow smaller and smaller).......

FJB

Aloha, Mark

 

[USMC1911]

If we get a good retest of the SPY $385 level I would expect a bounce again. Might get some call options for next week. Definitely not buying long term investment stocks/options anytime soon though.

 

[bolus]

Hows that inflation of 8.6% treating everyone? I saw a regular bag plain potato chips at $8.45 yesterday.

 

[Heyjoe]

Hows that inflation of 8.6% treating everyone? I saw a regular bag plain potato chips at $8.45 yesterday.

8.6 my foot

 

[arakboss]

Looks like another crummy start to the trading day.

S&P 500 tumbles nearly 4% to new low for the year, closes in bear market territory

Stocks tumbled Monday, pushing the S&P 500 back into bear market territory, as the major averages came off their worst week since January.

www.cnbc.com