Coronavirus/Economy/Stock Market

[The-Shoveler]

IMO FED has kind created a zombie market, question is can the FED keep the zombie alive until it becomes fully alive LOL.

Probably.

[ltsddd]

I certainly would keep an eye on things. I am a little fearful of the “2nd wave” of the virus in the fall + the upcoming election. Hopefully, between now and then there will be a nice exit point to lock in the profits.

For sure, I don’t want to get caught shorting the market on the flip side of this corona virus thing. Mark Cuban said that much.

[Coronita]

Interesting that Facebook and eBay also reported a good quarter. It seems like maybe since more people are staying home, social media and online shopping are doing well since that’s what left for people to do.

I wouldn’t be surprised to see Snap and Twitter and Netflix doing ok this quarter.

It seems a little strange. Normally, in a economic decline, you would think the unicorn companies would be the first to fall hard. But in this case, since people have to stay at home, it seems like the brick and mortar retail and service companies and tourism businesses are falling harder than the unicorn companies… Look at GE, Ford, and Boeing, AMC theaters, and the gaming companies, and Carnival cruises…All gutted… Interesting times.

[ltsddd]

It’s pretty apparent that the small local businesses are the ones that got disproportionately impacted by the virus (shutdown) the most. I don’t know of anyone in the tech (generally white collar jobs) that has lost their jobs b/c of this.

I hope everyone will make an extra effort to support their local businesses once the lock down is lifted. Maybe I’ll get my hair cut twice a week instead of twice a month.

[FlyerInHi]

In a recession, there is no win-win. There are winners and losers. Surviving a recession is not winning. That’s not negativity, it’s realism.
Buying a house at the wrong time can easily result in a $100k paper loss that takes years to overcome. That’s not winning. A friend didn’t listen to me and upgraded to a new condo this past January. She rented out her old condo at cash flow break even. And now her service business is shut down; and when she reopens, maybe 1/2 the revenue will be gone, not including the expenses of continued distancing and disinfection. Her old condo was fine…. she should have exercised impulse control until the recession. If you own a home already, you should never upgrade 11 years into an expansion when you know a recession is around the corner.

So flu, you’re no longer an index investor? Are you buying Microsoft?
Please pick some stocks so we can track them.

Me, Im not good at picking stocks. Instead I’m planning to buy a new used car this winter after automobile prices crash. that’s a win for sure. That’s what Donald Trump wrote in the art of the deal.

[Coronita]

Tesla and Google had a good quarter too. Not surprised about Google but Tesla continues to surprise me. Damn, I missed that one.

Qualcomm had a decent quarter too. Yeah……

Good thing folks didn’t cave to panic selling and picked up more things…

Might have been one of those rare opportunities of nearly a decade?

[Coronita]

[quote=ltsddd]It’s pretty apparent that the small local businesses are the ones that got disproportionately impacted by the virus (shutdown) the most. I don’t know of anyone in the tech (generally white collar jobs) that has lost their jobs b/c of this.

I hope everyone will make an extra effort to support their local businesses once the lock down is lifted. Maybe I’ll get my hair cut twice a week instead of twice a month.[/quote]

I haven’t had my haircut in awhile, except me trying to cut it myself. Lol. I agree. I think for the most part, most (not all) tech workers have been spared, and should count the blessings.

Unfortunately, staying at home, I think my spending has gone up quite a bit. Trying to get all my items I’ve been putting off done with my free time instead of going out. I’m trying to go with small businesses instead of going through amazon because Amazon recently changed their delivery policy and pushed out non-essential items to a 2-3 week delivery time even for prime members. Meanwhile, independent shops usually ship out right away, and price is competitive.

[svelte]

[quote=Coronita]

I think those that were buying things when oil went negative will be handsomely awarded in the long run. Not just oil, but when everything was tanking out of fear. Good job folks. lol[/quote]

There was some teak outdoor furniture that I haven’t been able to pull the trigger on because of the price.

I checked last Thursday. 1/3 off. So I bought it online and had it delivered.

Same with a huge fiberglass tree container. Way high in price. My finger always got nervous before I hit ‘buy’. Was 20% off that last week online…really easy to hit ‘buy’. No tax and free shipping also.

Can’t wait for this stuff to arrive.

[Coronita]

[quote=svelte]

There was some teak outdoor furniture that I haven’t been able to pull the trigger on because of the price.

I checked last Thursday. 1/3 off. So I bought it online and had it delivered.

Same with a huge fiberglass tree container. Way high in price. My finger always got nervous before I hit ‘buy’. Was 20% off that last week online…really easy to hit ‘buy’. No tax and free shipping also.

Can’t wait for this stuff to arrive.[/quote]

yup. lots of good deals. I refreshed my tool collection , bought a lot of Petro products for cars almost half off.

I’ve been searching the used cars… lots of good deals and probably will get better unfortunately, nothing I am looking for. jopefully I can find someone that wants to unload one of the following.

Original Acura NSX.
Any generation Toyota MR2.
BMW 2002
Lotus Elise
Mazda RX7

[svelte]

All good choices!

[zk]

[quote=Coronita]

I’ve been searching the used cars… lots of good deals and probably will get better unfortunately, nothing I am looking for. [/quote]

I’ve been half-looking for a classic station wagon for a while. Something for golf and the beach. Like a ’67 Nova wagon or a ’65 Chevelle wagon or any cool ’50s or ’60s wagon. It seems like there would be a lot of people who will need to unload their toy. But after that, it might take a little while for them to get desperate enough for the price to drop. I haven’t seen any overall price drops yet.

My problem is where to keep it. I don’t want to leave it outside. Condensation and whatnot. I have two garage spaces and two newer cars I can’t leave outside. I could cover it, I guess, but I’m not sure how much that would help. If anybody has any ideas on that, I’d love to hear them.

[Coronita]

The problem with getting some of these older cars, is they are pricing out to be more like classic car prices. And I have feeling they will be more or less recession proof because people who want them usually have the money to keep them.

For example, the going price for the BMW 2002 is almost the cost of a new BMW 2 2 series, around $30k
https://www.ebay.com/i/324138761048
https://www.ebay.com/i/114026403938

The first generation NSX was my favorite car when I was a teen. But a good condition one isn’t cheap either around $50-60k
https://www.ebay.com/i/153883799047

MR2’s are slightly better priced Depending on which generation, could be 4 digit price.

Garage space is an issue. I have 3 inside, 2 on the driveway one on the street. The two that’s currently being restored are outside. One is currently drip leaking oil on the driveway so I have a few weeks to fix it or an ultimatum to get rid of it.

I was trying to see if I could get a lift put inside like this:

https://www.bendpak.com/car-lifts/four-post-lifts/hd-9

so I could put my track car that isn’t frequently used on top, but the ceiling just barely misses the minimum height clearance. First world problem, lol.

Looks like I’ll move a car outside and get a car cover. Or maybe I’ll be fortunate enough to switch companies and the new employer will have garaged parking, then I’ll just leave my cars at work.

[zk]

[quote=Coronita]

I was trying to see if I could get a lift put inside [/quote]

A lift! That is a splendid idea. I’ll have to see if it’d fit. A lot of those old wagons are pretty low. Much lower than today’s SUV’s. On top of a 2018 Challenger. It might work.

[Coronita]

[quote=zk][quote=Coronita]

I was trying to see if I could get a lift put inside [/quote]

A lift! That is a splendid idea. I’ll have to see if it’d fit. A lot of those old wagons are pretty low. Much lower than today’s SUV’s. On top of a 2018 Challenger. It might work.[/quote]

88″ is the minimum height I think. Also there’s width requirement. You might as well try to see if you can put in a double lift since if you have a 2 car garage, the lift posts might occupy more than half of the garage space, making it difficult to park 2 cars.

But I think the two car lift has a 90″ minimum requirement. Plus it eliminates having any sort of overhead storage in the garage.

https://www.bendpak.com/car-lifts/four-post-lifts/hd-9sw/

[Coronita]

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