DrStool Posted March 18, 2020 Report Share Posted March 18, 2020 New York prices are gapping and reversing daily. It's madness if you don't stay up all night trading the fucutures. US500 Chart by TradingView Link to comment Share on other sites More sharing options...
DrStool Posted March 18, 2020 Author Report Share Posted March 18, 2020 Stocks and bonds are trading like pork bellies back in the day. I want a sound bite of me telling Lindsay 10 days ago that there are dead bodies and that they've taken their banks with them. Link to comment Share on other sites More sharing options...
DrStool Posted March 18, 2020 Author Report Share Posted March 18, 2020 All the proof you need that the banking system is now insolvent. The only thing now backing your bank deposits is the Fed lending repo to the banks, who can't borrow it because all the collateral is already pledged. 12 hours ago, sandy beach said: New York Fed pledges to offer $1 trillion a day in overnight repo loans https://www.investing.com/news/economy/new-york-fed-pledges-to-offer-1-trillion-a-day-in-overnight-repo-loans-211337 Of the trillion the Fed offered yesterday the banks took down $150 billion. VIrtually all of that was in the AM operation. In the PM operation they only took $10 billion. THere's no collateral. So the Fed reopened the PDCF, which is basically a no money town, good credit, bad credit, we finance everybody payday loan, except at 0 interest. We're fucked. It will be interesting to see the numbers on that in next week's H41. Link to comment Share on other sites More sharing options...
Private Skidmark Posted March 18, 2020 Report Share Posted March 18, 2020 The spreads between spot and dealer PM price have jumped in the past several days. Silver even more than gold. Silver eagles at dealers are selling for $10 above spot for bulk purchases, $12 for small purchases. 90% junk silver at dealers is selling for $20/ounce, or about a 2/3 premium to spot. The premium on gold eagles over spot is much less but has increased around 50% in recent days, to around 7% for bulk purchases, or twice the normal premium. Under anecdotal, could be meaningless, junk silver on eBay is in much shorter supply than normal, listings way down, and what's there is selling for around 30-40% over spot. And all forms of macaroni are sold out on Amazon. 😶 The fear is real. Link to comment Share on other sites More sharing options...
Jorma Posted March 18, 2020 Report Share Posted March 18, 2020 I saw yesterday that the market for a certain type of trucking, I'll call it on demand, is very high. The supply chain is buzzing. GM, Ford, FCA and Tesla are still building cars. https://www.caranddriver.com/news/a31716966/uaw-ford-fca-gm-coronavirus-wont-close-plants/ I have no clue how much other heavy manufacturing, or light manufacturing for that matter, is continuing. I'm not sure this info is of much use but for the time being it's good to keep in mind the economy hasn't stopped. Link to comment Share on other sites More sharing options...
sandy beach Posted March 18, 2020 Report Share Posted March 18, 2020 Alameda County in California shutdown Telsa yesterday. I live not too far from the factory. Link to comment Share on other sites More sharing options...
sandy beach Posted March 18, 2020 Report Share Posted March 18, 2020 Boeing getting crushed. Link to comment Share on other sites More sharing options...
sandy beach Posted March 18, 2020 Report Share Posted March 18, 2020 We keep hitting the floor here - push bears! Push! Link to comment Share on other sites More sharing options...
potatohead Posted March 18, 2020 Report Share Posted March 18, 2020 1 hour ago, Private Skidmark said: The spreads between spot and dealer PM price have jumped in the past several days. Silver even more than gold. Silver eagles at dealers are selling for $10 above spot for bulk purchases, $12 for small purchases. 90% junk silver at dealers is selling for $20/ounce, or about a 2/3 premium to spot. The premium on gold eagles over spot is much less but has increased around 50% in recent days, to around 7% for bulk purchases, or twice the normal premium. Under anecdotal, could be meaningless, junk silver on eBay is in much shorter supply than normal, listings way down, and what's there is selling for around 30-40% over spot. And all forms of macaroni are sold out on Amazon. 😶 The fear is real. I manage one of the largest private depositories in the country. I buy and sell metal, a lot of it. All I can say is that most dealers are grouching the living $hit out of their customers right now. They are not offering immediate delivery metal with these extraordinary premiums. Wholesalers have raised their prices but not like the retail dealers. Mints have not. Case in point, I have been selling silver 100 oz bars the last 2 days at most, 95 cents an ounce over spot. Most other dealers are at $4 over spot.silver eagles $3.25 over spot, most other dealers $7 over spot. This comment is not meant as a commercial but rather an insider that is seeing retail dealers spread fear and panic while premium spiking their products that they do not even have on inventory. Link to comment Share on other sites More sharing options...
PullMyFinger Posted March 18, 2020 Report Share Posted March 18, 2020 Quite the battle on ES between 2350 and 2550 since Monday morning. Which way we ultimately gonna break? Link to comment Share on other sites More sharing options...
DrStool Posted March 18, 2020 Author Report Share Posted March 18, 2020 39 minutes ago, potatohead said: I manage one of the largest private depositories in the country. I buy and sell metal, a lot of it. All I can say is that most dealers are grouching the living $hit out of their customers right now. They are not offering immediate delivery metal with these extraordinary premiums. Wholesalers have raised their prices but not like the retail dealers. Mints have not. Case in point, I have been selling silver 100 oz bars the last 2 days at most, 95 cents an ounce over spot. Most other dealers are at $4 over spot.silver eagles $3.25 over spot, most other dealers $7 over spot. This comment is not meant as a commercial but rather an insider that is seeing retail dealers spread fear and panic while premium spiking their products that they do not even have on inventory. Will we get arrested for trading on this. 😄😄😄 Link to comment Share on other sites More sharing options...
fxfox Posted March 18, 2020 Report Share Posted March 18, 2020 Oil continues its death march today... Link to comment Share on other sites More sharing options...
Jorma Posted March 18, 2020 Report Share Posted March 18, 2020 $800bn, $1TN, $1.2TN? Nah, how about $2.5TN. $10K for everyone. First, the government should pay $10,000 to every adult and child younger than 40. This from yesterday afternoon but I missed it. https://www.bloomberg.com/opinion/articles/2020-03-17/coronavirus-crisis-trump-s-1-2-trillion-stimulus-isn-t-enough?sref=q1j4E2z1 Link to comment Share on other sites More sharing options...
DrStool Posted March 18, 2020 Author Report Share Posted March 18, 2020 5 day cycle projection on the fucutures 2250. Link to comment Share on other sites More sharing options...
Jimi Posted March 18, 2020 Report Share Posted March 18, 2020 Mnuchin on the phone with Cramer on caca-vision just now. Just a couple of average Joes talking through things - an “outside the box” exercise. Cramer floated the idea of the USG creating a new govt institution aside social security that would invest in Boeing stock, so that Americans could benefit from its eventual returns on bailout. Then, he floated the notion that this Institution alongside social security might also invest in corporate bonds. With the implied understanding that this would be, you know, for the benefit of the American people. Just a couple of average Joes chewing over ideas on live TV. it’s not like they were floating trial balloons or something - please, don’t get the wrong impression..... Link to comment Share on other sites More sharing options...
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