The Spreading (And Potentially Deadly) Coronavirus Epidemic....

[arch_8ngel | 1,597]

1 hour ago, Lambda said:

As someone who works on the street, let me state that the “circuit breakers” are bullshit. They were implemented a long time ago and are no longer valid considering bot trades. It’s chaos on wall st. The circuit breakers are meant to be a “time-out” to reconsider their “sell”s... the bots don’t have emotion. They sell on numbers, and that’s exactly why we went from -7% to -10% by EOD. Nobody cares about that breaker. The breakers incite even more panic, and every trader like me on the street knows it. It’s not helpful. There are more baskets and bots nowadays than there are retail individual investors. It’s old mentality, and it only encourages more sell side additions to the book. 
^This isn’t a shot on you, I’m more or less building on the facts of what this is and more or less agreeing / building on what you’ve stated.

**Decade experience as a successful registered licensed trader.

 

as for airlines and travel ban, I agree. Oil will be hit by far worse measure due to The ME war against Russia’s oil stance.

 

good post, I enjoyed reading that! Glad that more than just us on the street see these things....

for those who don’t know... worst day on the street since black Monday of ‘87.

 

far more to come...

Definitely agree that breakers are probably outmoded with the amount of algorithmic and basket trading taking place.  (Though having a daily limit probably does matter)

 

This week is probably the first real test of how all of the algorithms behave, in concert, when breakers are hit.

I do control design as part of my work, so there was some morbid curiosity as to whether any of the algorithms were going to "wind up" while the pause was in force and the blast to a lower level when it lifted.  

But regardless, when we hit the overnight limit down AND hit the breaker in moments of opening...it is probably going to be a bad day (then do it at least twice in one week!)

[Richardhead | 2,813]

Stole this from FB

 

[Lambda | 130]

1 minute ago, arch_8ngel said:

Definitely agree that breakers are probably outmoded with the amount of algorithmic and basket trading taking place.  (Though having a daily limit probably does matter)

 

This week is probably the first real test of how all of the algorithms behave, in concert, when breakers are hit.

I do control design as part of my work, so there was some morbid curiosity as to whether any of the algorithms were going to "wind up" while the pause was in force and the blast to a lower level when it lifted.  

But regardless, when we hit the overnight limit down AND hit the breaker in moments of opening...it is probably going to be a bad day (then do it at least twice in one week!)

... definitely a bad day.

we hit twice today. Once in pre-trade hrs and then at open. It’s been a whirlwind of a day for me.

[JamesRobot | 5,806]

They just closed schools for next week here.  

[arch_8ngel | 1,597]

36 minutes ago, Lambda said:

... definitely a bad day.

we hit twice today. Once in pre-trade hrs and then at open. It’s been a whirlwind of a day for me.

Same on Monday wasn't it? (Hitting the overnight limit at 5% down before instantly hitting the daytime first beaker at 7% down)

I guess that one might have just barely stayed off of the overnight limit, though.

[MrMark0673 | 197]

Most schools are closing around here for an extended period of time, I just got word that I'm out the next two weeks.  Everett is off for 30 days and Chelsea indefinitely.  Those are the longest that I know of.

[Richardhead | 2,813]

Liquor store will be open for business.

[JamesRobot | 5,806]

1 minute ago, Richardhead said:

Liquor store will be open for business.

Anyone hoarding booze yet?  What do I need to stock up on?

[Richardhead | 2,813]

3 minutes ago, JamesRobot said:

Anyone hoarding booze yet?  What do I need to stock up on?

We sold 2 months worth of everclear in less than a week. I’m seriously over the crazy fucking paranoia. My life at work has been shit this week. People literally losing their fucking mind on me for touching their  credit card and bottles. 

[Lambda | 130]

40 minutes ago, arch_8ngel said:

Same on Monday wasn't it? (Hitting the overnight limit at 5% down before instantly hitting the daytime first beaker at 7% down)

I guess that one might have just barely stayed off of the overnight limit, though.

Circuit Breaks are as follows:

7% Down - 15 min halt

13% Down - 15 min halt

20% Down - Exchnage Shutdown for Remainder of Day.

keep in mind- a hit of the 7% breaker doesnt mean that if we come up to (down 6%), and then fall back to (down 7%), we trigger again. 1 breaker per day per level. If we hit 7%, the next breaker will only be triggered at 13%.

We hit one Monday, twice today (once in pre-market, once at open) (pre-market and open are not considered same trading day period).

Edited March 13, 2020 by Lambda

[SpoonMan Abrams X | 697]

55 minutes ago, Richardhead said:

We sold 2 months worth of everclear in less than a week. I’m seriously over the crazy fucking paranoia. My life at work has been shit this week. People literally losing their fucking mind on me for touching their  credit card and bottles. 

Hasn't reached that level at work, least when I worked last a couple days ago. Things have certainly escalated a lot however, so it should be interesting.

[Richardhead | 2,813]

15 minutes ago, SpoonMan Abrams X said:

Hasn't reached that level at work, least when I worked last a couple days ago. Things have certainly escalated a lot however, so it should be interesting.

People bought the Everclear to make hand sanitizer. I have never seen this kind of panic. It’s a bit terrifying actually.  
What do you do for work? I’m curious to see how this is affecting peoples jobs. 

[Jeevan | 8,912]

Just now, Richardhead said:

People bought the Everclear to make hand sanitizer. I have never seen this kind of panic. It’s a bit terrifying actually.  
What do you do for work? I’m curious to see how this is affecting peoples jobs. 

I work in a factory that ships and receives internationally.  So far, in the email above, u can see my company's response.  Also, they quarantined a maintenance guy who got back from a trip to italy recently and told him he had 2 paid weeks off from work because he went abroad.  Fairly reasonable I think.  

[Estil | 1,265]

6 hours ago, themisfit138 said:

It looks like most sports are outright canceled or postponed. The XFL and Nascar are going ahead with no fans in the stands. At last I checked anyway.   

For now.  Remember the NCAA was planning to do that too at first.  I would not be at all surprised if those two sports must go idle (as NASCAR would call it) as well.  As for the NCAA, my beloved alma mater finished the season sixth in the polls and top seed for the SEC Tournament; we had a real good shot at title #9 (not to be confused with Tammy Wynette's Apartment #9) but now Big Blue Nation will never get to know for sure one way or the other.  

This is getting way too real...

Edited March 13, 2020 by Estil

[doner24 | 1,197]

On 3/7/2020 at 7:20 AM, arch_8ngel said:

It sure would be nice if we (USA) were actually doing some broader testing in areas with confirmed cases, rather than intentionally distorting the statistics.

Based on death rates in countries with more thorough testing, our actual infections are 5-10x higher, at least.

Lots of symptomatic people are apparently being denied testing though, just because they didn't travel to a risk zone or aren't aware of direct contact with someone who did.  Going to lead to a lot more domestic transmission just due to needless ignorance.

This is a big part of the problem. I recently got back from the San Francisco area where I had a conference with attendees from around the world. While there was a lot of hand sanitizer and little to no handshaking you never know what you come into contact with. To top it off, we flew out of San Jose airport where 3 TSA agents were confirmed with it on Monday. Tuesday I started feeling shitty, went in on Wednesday morning at open with a sore throat, runny nose, and a dry cough. They turned me away from testing because I didn’t have a fever. Now symptoms have gotten worse the last 24 hours and I’m thinking about heading back in tomorrow and staying until they test me. In the correct scenario, they should at least confirm I don’t have it, especially with having a mother that is extremely at risk of death should she contract it.  

[doner24 | 1,197]

3 minutes ago, doner24 said:

This is a big part of the problem. I recently got back from the San Francisco area where I had a conference with attendees from around the world. While there was a lot of hand sanitizer and little to no handshaking you never know what you come into contact with. To top it off, we flew out of San Jose airport where 3 TSA agents were confirmed with it on Monday. Tuesday I started feeling shitty, went in on Wednesday morning at open with a sore throat, runny nose, and a dry cough. They turned me away from testing because I didn’t have a fever. Now symptoms have gotten worse the last 24 hours and I’m thinking about heading back in tomorrow and staying until they test me. In the correct scenario, they should at least confirm I don’t have it, especially with having a mother that is extremely at risk of death should she contract it.  

Adding, I have self quarantined myself since Tuesday night. I’m lucky to have a job where working from home is just as effective as in the office. 

[Link | 2,714]

Shut everything down, as much as possible.  Not for panic. Just contain this and prevent spread. Grocery stores and most essential public services should remain operable. Other stuff, maybe not so much. But, those workers also need to be taken care of.

 

 

 

[Gamegearguy | 225]

Why doesn't the stock market close? Seems like a good place for COVID-19 to thrive in, lots of people in close quarters, all that stuff.

Edited March 13, 2020 by Gamegearguy

[zeppelin03 | 314]

3 hours ago, Link said:

Shut everything down, as much as possible.  Not for panic. Just contain this and prevent spread. Grocery stores and most essential public services should remain operable. Other stuff, maybe not so much. But, those workers also need to be taken care of.

 

 

 

That's starting to happen in Cleveland.  Museums and other public venues are closed after the govoner banned 100+ events.  Have a feeling more and more locations will follow suit over the next week. Doesn't hurt to just cut the spread and we can all move on soon.

[arch_8ngel | 1,597]

8 hours ago, Lambda said:

Circuit Breaks are as follows:

7% Down - 15 min halt

13% Down - 15 min halt

20% Down - Exchnage Shutdown for Remainder of Day.

keep in mind- a hit of the 7% breaker doesnt mean that if we come up to (down 6%), and then fall back to (down 7%), we trigger again. 1 breaker per day per level. If we hit 7%, the next breaker will only be triggered at 13%.

We hit one Monday, twice today (once in pre-market, once at open) (pre-market and open are not considered same trading day period).

I know where the day market breakers are set, but I thought I had read that overnight/pre-market was handled differently with a 5% down hard limit (trading doesn't stop, per se, just no trades are allowed below the limit).  Maybe I misunderstood what I read about it, though, since previously I would have thought it had the same breakers as daytime trading.

[arch_8ngel | 1,597]

2 hours ago, Gamegearguy said:

Why doesn't the stock market close? Seems like a good place for COVID-19 to thrive in, lots of people in close quarters, all that stuff.

You should find a modern picture of the trading floor.

It is pretty vacant in recent years (a far cry from the popular movie scenes of the 80's)

[Lambda | 130]

1 minute ago, arch_8ngel said:

I know where the day market breakers are set, but I thought I had read that overnight/pre-market was handled differently with a 5% down hard limit (trading doesn't stop, per se, just no trades are allowed below the limit).  Maybe I misunderstood what I read about it, though, since previously I would have thought it had the same breakers as daytime trading.

You aren’t wrong, the 5% limits apply to futures trading (contract buying/selling) though. While the limits I mentioned apply to stock trades, the 5% limit up-down applies to the futures market. 
 

Premarket and After Hours trading can actually allow you to get into or out of a stock, however the liquidity and volume is typically far lower than the trade day, so greater price variances can usually be expected.

[Lambda | 130]

13 minutes ago, arch_8ngel said:

You should find a modern picture of the trading floor.

It is pretty vacant in recent years (a far cry from the popular movie scenes of the 80's)

This is 100% correct. Believe it or not the NYSE can operate entirely online. The system is in place... but as far as I know it has never been used out of need.

Edited March 13, 2020 by Lambda

[Boosted52405 | 178]

11 hours ago, Richardhead said:

We sold 2 months worth of everclear in less than a week. I’m seriously over the crazy fucking paranoia. My life at work has been shit this week. People literally losing their fucking mind on me for touching their  credit card and bottles. 

Bro, I'd encourage you to look at this holistically - yes it's hella irritating to you, but this is a very serious situation in general.  The entire world is shutting down around us, and for good reason (to try and limit the spread).  I am not terribly worried about myself getting the virus, but am genuinely terrified that my 2 year old will catch it, or my older family members etc.  We have confirmed cases just minutes from my location and am finding myself growing paranoia about "stupid" things like pumping gas and going shopping.  If you are letting the way your customers behave bother you, try and consider they are probably worried about their families and stuff too.  Really hope you're taking heavy precautions too (washing hands/sanitize frequently).

[Richardhead | 2,813]

4 minutes ago, Boosted52405 said:

Bro, I'd encourage you to look at this holistically - yes it's hella irritating to you, but this is a very serious situation in general.  The entire world is shutting down around us, and for good reason (to try and limit the spread).  I am not terribly worried about myself getting the virus, but am genuinely terrified that my 2 year old will catch it, or my older family members etc.  We have confirmed cases just minutes from my location and am finding myself growing paranoia about "stupid" things like pumping gas and going shopping.  If you are letting the way your customers behave bother you, try and consider they are probably worried about their families and stuff too.  Really hope you're taking heavy precautions too (washing hands/sanitize frequently).

I’ve been spraying shit down with Lysol and cleaning way before it was cool. I’ve been paranoid about getting sick before It was cool and I’ve been healthy (very rarely) sick. It’s the way people are fighting about things and acting like the world is ending that bothers me. I see people getting more and more crazy/dangerous every day. I’m more scared of them than I am getting sick. Literally, people fighting in the grocery store to buy as much running alcohol as they can. It’s terrifying what people are willing to do to get what they think they need. Nobody needs 10 cases of water, 5 12 packs of TP and a basket of rubbing alcohol.