buy on the bump

[sammyg2]

LOL that's good.
This morning the WHO put us all on DOUBLE-SECRET probation.

[Chocaholic]

It’s good to see that the investment community ignores CNN.

Dow is up 739 points as of now (and I moved some cash into stock last Friday). Just not enough if this holds.

[Shaun @ Tru6]

Buy soon.

BOJ reassurance on coronavirus bolsters speculation of global policy action


Japan March 1, 2020 / 7:33 PM / Updated 7 hours ago

Leika Kihara

TOKYO (Reuters) - Bank of Japan Governor Haruhiko Kuroda said on Monday the central bank will take necessary steps to stabilise markets jolted by the coronavirus outbreak, bolstering speculation about coordinated global policy action.

Kuroda’s comments, made in an emergency statement just days after a similar move by Federal Reserve Chair Jerome Powell, were welcomed by markets as a signal the world’s biggest central banks were mustering a coordinated response to the crisis.

French Finance Minister Bruno Le Maire also said on Monday that G7 major economies would take “concerted action” to limit damage from the epidemic, with the group’s finance ministers to discuss the best approach by phone this week.

Kuroda said financial markets have made “unstable movements” amid heightened uncertainty over the impact on the economy from the epidemic.

“The BOJ will monitor developments carefully, and strive to stabilise markets and offer sufficient liquidity via market operations and asset purchases,” he said.

The statement’s language suggested the BOJ would make full use of its existing tools to flood markets with funds, before pondering additional monetary easing steps.

Indeed, the BOJ subsequently offered 500 billion yen ($4.62 billion) in two-week funds via market operations. Investors also expect the central bank to ramp up daily purchases of exchange- traded funds (ETF) to put a floor on stock prices.

“Kuroda’s statement focused on market operations and asset purchases, which meant the BOJ may make its ETF buying more flexible to support stock markets or take steps to avoid money markets from tightening,” said Yoshimasa Maruyama, chief economist at SMBC Nikko Securities.

In his own unscheduled statement issued on Friday, Powell said the Fed would “act as appropriate” to support the economy in the face of risks posed by the epidemic.

Goldman Sachs’ economists Jan Hatzius and Daan Struyven said Powell’s statement “strongly hints” at an interest rate cut at or even before the Fed meets on March 17-18, as well as the likelihood of coordinated action.

“Chair Powell’s statement on Friday suggests to us that global central bankers are intensely focused on the downside risks from the virus,” Hatzius and Struyven said in a note.

“We suspect that they view the impact of a coordinated move on confidence as greater than the sum of the impacts of each individual move.”

...


Under a policy dubbed yield curve control, the BOJ guides short-term rates at -0.1% and pledges to cap long-term borrowing costs around zero. It also buys government bonds and risky assets, such as ETFs, as part of its massive stimulus programme.

[varmint]

Bought Friday. Actually strange to see it rebound so fast. Was expecting it to be erratic for a while longer.

[Chocaholic]

Originally Posted by varmint

Bought Friday. Actually strange to see it rebound so fast. Was expecting it to be erratic for a while longer.

I agree...but I suspect it will be erratic for a while longer. The fundamentals are still in place and investors want to make money. Two good things!

[RWebb]

Buffett is still sitting on a big cash hoard

[biosurfer1]

Originally Posted by RWebb

Buffett is still sitting on a big cash hoard

I'm sure he had a list of potential buys that MUST have become tempting for him recently.

As a share holder, is like to see him do something with it other than sit in the bank.

Also, as a shareholder, today=👍

[93nav]

To many new cases in to many countries across the world, still increasing. I am sitting on the sidelines.

[RWebb]

How many times does a dead cat bounce?

[93nav]

I will let you know in a month.

Originally Posted by RWebb

How many times does a dead cat bounce?

[sammyg2]

Originally Posted by RWebb

How many times does a dead cat bounce?

Nine. I believe the correct answer is nine times.
Or it is eight? Maybe 10. I gotta do the math.

Start with nine lives, carry the bounce... means eight left,
hold on ...

[RWebb]

while yer workin' that out - tell us if the dead cat can catch a falling knife

if so, on which bounce(s)


or maybe tabs knows...

[craigster59]

I picked up more Masi today. I'm holding for the long term. I bought in at $17 years ago and it's performed well for me.

[sammyg2]

[Shaun @ Tru6]

What's the story with the market today after the rate cut announcement?

[sammyg2]

The fed made an "emergency rate cut" of half a point. The last time the fed made an "emergency rate cut" was in 2008 when all heck was breaking loose, and that spooked the market.
Sure they wanted a rate cut, but figured they'd get one at the next fed meeting.
For the fed to act like this must mean things are really, really bad

They're acting like like skittish cats hiding behind the sofa.
Either that or they're making a killing on the roller-coaster swings. < (more likely).

I 'spect it to keep swinging daily for a little while, loosing momentum until it settles a bit or until people catch on.
That's when a real recovery can start.

[Sooner or later]

The rate cut won't address the slow Asian economies and supply chain disruptions associated with Coronavirus.

The world's economies were already on the ropes and Coronavirus was the trigger. As much as we like to beat on Tabs he does have a good take on what is going on. It is his constant badgering and the "I am so much smarter than everyone else" that gets on my nerves and not so much the message he presents...the message he has presented, at last count, 297,641 times.

[flatbutt]

and yet Tabs has his money in the market too. I just hope I live long enough to recover my losses.

[RWebb]

6 months might do it

[sammyg2]

Read my mind