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Wall Street getting what it asked for

Posted on 9/20/21 at 8:47 am
Posted by Riolobo
On the lake
Member since Mar 2017
4254 posts
Posted on 9/20/21 at 8:47 am
Another huge drop in the market. But no more mean tweets!
Posted by teke184
Zachary, LA
Member since Jan 2007
95318 posts
Posted on 9/20/21 at 8:48 am to
When they heard the bottom would get knocked out, they though Kamala was coming for a visit.
Posted by FATBOY TIGER
Valhalla
Member since Jan 2016
8884 posts
Posted on 9/20/21 at 8:48 am to
Love how the WSJ blames Chyna.
Posted by Cosmo
glassman's guest house
Member since Oct 2003
120257 posts
Posted on 9/20/21 at 8:49 am to
Had some limit buy orders that just went through
Posted by teke184
Zachary, LA
Member since Jan 2007
95318 posts
Posted on 9/20/21 at 8:51 am to
Problem is that the issue IS China.

Evergrande is teetering on the brink and being propped up by China. And a lot of other businesses own a chunk of Evergrande stock or debt.
Posted by whiskey over ice
Member since Sep 2020
3256 posts
Posted on 9/20/21 at 8:52 am to
I mean it’s still up 28% since the election but I get what you’re saying

frick Biden
Posted by wutangfinancial
Treasure Valley
Member since Sep 2015
11096 posts
Posted on 9/20/21 at 8:53 am to
quote:

Problem is that the issue IS China.





Who's selling and why are they selling, oh mighty Oracle? It's more likely dealers repositioning to hedge their gamma exposure.
Posted by CGSC Lobotomy
Member since Sep 2011
80097 posts
Posted on 9/20/21 at 8:54 am to
quote:

it’s still up 28% since the election


So is inflation.
Posted by xxTIMMYxx
Member since Aug 2019
17562 posts
Posted on 9/20/21 at 8:54 am to
It’s a lot of things
Posted by Meauxjeaux
98836 posts including my alters
Member since Jun 2005
39937 posts
Posted on 9/20/21 at 8:56 am to
What would as portfolio look like if every single year for the past 30 years you went all cash in august and bought back all in in December?
Posted by GumboPot
Member since Mar 2009
118759 posts
Posted on 9/20/21 at 8:57 am to
quote:

Had some limit buy orders that just went through


Good luck. I've had terrible luck trying to catch falling knives.
Posted by teke184
Zachary, LA
Member since Jan 2007
95318 posts
Posted on 9/20/21 at 8:59 am to
Read the fricking investment news.

Evergrande hit the wall last week. China is allowing them to get away with not paying off their bond holders for now. But doing so caused huge problems over there and we were seeing it in the overnights for Wall Street.


Evergrande hasn’t caused a Lehman or Enron type hit, at least not yet, but it is a clusterfrick waiting to happen and it will have an effect on lots of unrelated stocks simply because so many people have a chunk of them directly or indirectly.
Posted by GumboPot
Member since Mar 2009
118759 posts
Posted on 9/20/21 at 8:59 am to
Crypo market is crashing too. BTC almost -7% and ETH almost -8%.
Posted by GumboPot
Member since Mar 2009
118759 posts
Posted on 9/20/21 at 9:01 am to
quote:

China is allowing them to get away with not paying off their bond holders


WTF? How will Evergrande ever sell bonds again unless central bank fiat is buying them?
Posted by wutangfinancial
Treasure Valley
Member since Sep 2015
11096 posts
Posted on 9/20/21 at 9:03 am to
quote:

Read the fricking investment news.




Thanks for proving my point. The “investment news” is 18 months late on this breaking story. You have no idea who or why people are selling. But continue to signal to the board that you’re a media lapdog and you’ll believe anything they say.
Posted by teke184
Zachary, LA
Member since Jan 2007
95318 posts
Posted on 9/20/21 at 9:04 am to
No clue. But they are being allowed to put off paying their interest for now because they can’t afford to do so.

And it is a sign of bad things.
Posted by LSUbest
Coastal Plain
Member since Aug 2007
11054 posts
Posted on 9/20/21 at 9:07 am to
quote:

Another huge drop in the market. But no more mean tweets!


I got out with 12% just days before the drops! Just lucky.
Posted by Hold Fast
Wrong side of tracks.
Member since Sep 2021
85 posts
Posted on 9/20/21 at 9:08 am to
quote:

who or why people are selling


I will bite. Who and why are they selling? Cliffs if possible, TIA.
Posted by Mid Iowa Tiger
Undisclosed Secure Location
Member since Feb 2008
18633 posts
Posted on 9/20/21 at 9:10 am to
quote:

Problem is that the issue IS China.

Evergrande is teetering on the brink and being propped up by China. And a lot of other businesses own a chunk of Evergrande stock or debt.


Good let it all burn.
Posted by teke184
Zachary, LA
Member since Jan 2007
95318 posts
Posted on 9/20/21 at 9:13 am to
By using the term “gamma”, I’m guessing he means the ongoing massive shorts of stocks like GameStop.

Investors keep kicking the can down the road by extending their shorts and selling off their other assets to cover what they have to pay for that. It’s been a slow motion clusterfrick for at least six months now.
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