I would disagree with that. The S&P is only down like 14% YTD. No earnings forecasts for the 2nd quarter have even been updated. Unemployment probably breaks 15% this week.

About the only reason I see the market going up is lack of other options honestly. Bonds are awful, commercial real estate is tanking, etc. It will go up longer term for sure, but it's hard for me to see a big upside when hotels, oil, commercial real estate, restaurants, amusement parks, theaters, airlines, automobiles, etc are all having their worst quarter ever and probably won't rebound anytime soon without a cure.

Buffet did not sell most of his airliners?? He sold a small portion.

Apparently United has sent a few hundred plans to the desert to die with no plans to bring them back. This could be an early retirement or just offloading assets no longer needed to save on M&U. My guess is that the airlines don't expect to get back to "normal" for a year or two.

Maybe take the write down now while the government is "promising" some AMAZING and BEAUTIFUL help, they say show hey look, we had to mothball all these aircraft DURING the crisis...?

I think some of these planes were reaching end of life and were probably going to be replaced with the 737 Max. And now it is just declining demand. Which is not exactly good times for Boeing, if demand does not recover.

Apple, TTD, Shop.

Goldman Sachs. LOL. Great call once again, "we might have already put the coronavirus bottom in". Not what their chief economist Kostin was saying a week ago.

Looks like the Nasdaq is going to exit bear market territory today.

"Recession", "bear market", terms never meant less in this virus government induced shutdown.

Looks like the reality of the virus good news is taking hold now and now they are talking all over themselves on who has the best answer to reopen the economy!

Numbers NEVER added up. Economists and Scientists with their modeling, oh boy.

According to SEC filings1 , Berkshire Hathaway sold nearly 13 million shares of Delta Airlines (DAL) last Wednesday for around $314 million, and 2.3 million shares of Southwest(LUV) for around $74 million on Thursday.

Chump change for the Oracle.

And the two best airlines btw

You have to love today’s headlines.. first the reason for the rally today and then the reality. It appears we are in a one way market now.. buy the phone book!

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Texas governor is also announcing his own plan. 295 total deaths, entire State shut down.

Markets figured it out last week.

And then when nothing else makes sense? "Don't fight the fed".

All pot stocks - These are long term holds and the swings are wild

HEXO
KSHB
HRVSF

It was to alleviate a softer demand for the long term.

https://seekingalpha.com/article/4337310-what-is-driving-this-market-higher-and-how-to-play

A pretty good perspective from one man's opinion

The pain may just be beginning to show:

https://www.thestreet.com/investing/amc-is-said-in-talks-to-hire-bankruptcy-counsel?puc=yahoo&cm_ven=YAHOO&yptr=yahoo

Their corporate office is one street over from where I work. One of my former coworkers works there. They were hurting long before the pandemic.

Movie theaters are going the way of the horse and carriage.

Vaudville Theatres > Movie Theatres > ??

Agreed, in the days of cheap 70” 4K TV’s and killer sound systems who want to go to the theatre and pay $25.00 for popcorn and a soda.. only to have the back of your seat kicked repeatedly for 2 hours.

and the person next to you ignoring the don't use your phone, the light distracts others.
and the person behind you who won't quote talking
etc

I use to be in the movie business, but haven't been to the theater since 2013!

One of the nice things about where I live, none of those things is usually an issue. There's something about going to the theater that is still better than watching it at home - even on large tv's - but I'm picky about what I'll go drop that kind of money on, and most just aren't worth it.

I'm going to continue to sit this out. This is what I predict is going to happen which hasn't changed from the beginning. People are tired of sitting at home, many people seeing the 'less deaths' as a 'see I told you so' instead of the real reason, and so those in power are going to open things up again. Then, new breakouts are going to occur and people will either ignore it until the numbers are big and it is too late, or panic right away. Either is bad, and the market will panic and drop like a rock with the anticipation of additional deaths and another imminent lockdown.

The market is overpriced, propped and still fake. I can't imagine why anyone thinks the market is supposed to be at 30k. Unfortunately, I realize none of this means anything because the people throwing money into the market are insane. I won't regret if it goes up or down. It is what it is. Can't lose if you don't play.

I don't want to be right, and hopefully I'm not.

These are not really covered puts if you only own 600 shares and are writing 12 contracts, agreed?

I agree with you wholeheatedly. It just seems to me that over the last 30 years, the highs and lows are getting tighter and maybe bigger (wavelength and amplitude). It certainly requires more expertise than it used to.

Looks like he sold 6 calls against 600 shares so those are the covered calls.

He also sold 6 puts, meaning he'd buy 600 more shares at 17 if he was forced to.

I just went to see the TCM King Kong movie in theaters. It was a different experience, especially seeing a very small format (4x3?) projected on a large screen.

Sadly, there were 10 people in the audience. Nobody cares anymore, it's a dying business.

It seems that it’s all about government bailouts at this point, it really doesn’t matter what industry it is.. very sad! I guess our grandkids can figure out how to pay for all of this.

If they keep printing cash at this rate it won’t end well! It will take a wheelbarrow load of money to buy a loaf of bread.

Not to mention the apparent new love of authoritarianism by the supposed freedom-loving crowd.

Stop this nonsense talk! Nothing matters, no charts, no logic, no earnings, no nothing! The federal government and a few key market markers are behind this inflated bubble. They are using our tax dollars to create the biggest wealth gap in history. This is all you need to know. At some point our stupid govt. started to believe it was their job to keep the market going up, no matter how over priced it is. You know why I hate Republicans and Democrats because at the end of the day they are the exact same. Obama made more billionaires with his QE run and Trump will do the same. This is our money they giving out like candy.

I'm small potatoes to most of you guys, but I bought some stocks today and sold those same stocks tonight for a couple hundred dollars profit. I know those averages won't be consistent, but that paid me a hell of a lot more money then sitting in a savings account. I figured take the guaranteed profit rather then hope it holds its value tomorrow or by the end of the week. I can always buy again, rinse and repeat.

I normally just lurk in this thread but figured I’d share today.

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We can’t even get lysol and hand sanitizers, how are we going to reopen the economy?

As long as the virus is lingering the only thing I will do outside my neighborhood is buy groceries.

TP! The Government secretly bought up all of the toilet paper when this first went down. Now, they'll suddenly release it back to us and we'll think everything is okay again. Anyway, that's my conspiracy theory.

The banks are under fire for dividends.

https://www.cnn.com/2020/04/14/investing/bank-dividends-recession/index.html

" America's big banks paid out fat dividends to shareholders during the Great Recession, leaving them with less capital to absorb massive losses.

" Now, big banks face another economic catastrophe, and this time some players involved in the last crisis are urging regulators to force lenders to preserve cash by suspending dividend payouts.

Kind of an interesting article

https://apple.news/AC_RhOMIySgGs-TXfF2Wm1Q

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Perfect timing kpg! I'm glad I followed your lead on these. Thanks for sharing and for all your input on this forum!!!

Can’t argue with you.
The buying opportunities over the last 3 weeks don’t happen very often and have made folks quite a lot of money.

KPG any thoughts on OXY here, last time I bought it around 13.00 I did well.

I hear there have been very few car sales happening over the last month. Aluminum and steel are likely not in high demand.

Some of the big business that is floundering:

Hotels, airlines, buses, trains, taxis, government transportation services, new and used cars, rental cars, gas/fuel, restaurants and bars, movie theaters, bowling alleys and other entertainment activity based business, construction, hospitals (profits are from elective surgeries), dentists, veterinarians, physical therapists, professional sports, college sports, large and small retail businesses that do not have a big online presence, home appliance sales, large home improvement such as windows/doors, museums, concerts including music, stand-up comedy and shows, nightclubs, cruise lines, casinos

I am sure I missed quite a few big ones.