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Dow futures slammed by 500

Discussion in 'Too Hot for Swamp Gas' started by citygator, Feb 3, 2025 at 8:44 AM.

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  1. Feb 3, 2025 at 8:44 AM #1
    citygator

    citygator VIP Member

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    Looks to be a rocky day. Was off 600 points an hour ago. Market not reacting well to a trade war. This must be the "pain" America will understand. I wont predict today's end though.. sometimes it does just the opposite which is why I am heading to work vs trading for a living.

    Dow futures slammed by 500 points after Trump hits Canada, Mexico and China with tariffs: Live updates

    The move to impose the levies caught investors off guard, as many had seen them as more of a negotiating tool. Economists have warned a trade war risks boosting inflation and denting growth. President Trump acknowledged Sunday there could be some pain for U.S. consumers, but said it would be “worth the price.”
     
    Last edited: Feb 3, 2025 at 8:56 AM
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  2. Feb 3, 2025 at 8:51 AM #2
    QGator2414

    QGator2414 VIP Member

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    I held 18 TQQQ puts and 20 BA puts over the weekend. Looking to be a good opening for me...

    Bought them at 2:15 Friday and was up over $2000 by the close. Considered taking the money but really looking good this morning. Now should be up another $7K to $8K this morning if it holds. Never know though.

    Now I will probably sell first thing. But part of me says lets see if this is a multi day move.
     
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  3. Feb 3, 2025 at 8:55 AM #3
    WarDamnGator

    WarDamnGator GC Hall of Fame

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    Q here with another Madoff-like market timing story.
     
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  4. Feb 3, 2025 at 8:57 AM #4
    citygator

    citygator VIP Member

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    Wall Street is preparing for a rocky Monday:

    https://www.wsj.com/livecoverage/stock-market-today-dow-sp500-nasdaq-live-020-03-2025

    Stock futures fell, with contracts tied to tech-heavy Nasdaq-100 falling the most, dropping more nearly 2%.

    Auto stocks slid. GM and Ford were among the biggest losers in premarket trading. The auto industry is vulnerable because Mexico and Canada play a crucial role in many supply chains.

    Oil rose. U.S. crude futures jumped above $74 a barrel.

    The dollar strengthened against a range of currencies, with the Canadian dollar, the euro and Mexican peso hit hard.

    Elsewhere in markets, Wall Street's "fear gauge" leapt, though it remained well below recent highs. Global indexes fell, with stocks retreating in Europe and through much of Asia. And cryptocurrencies sold off.
     
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  5. Feb 3, 2025 at 9:08 AM #5
    QGator2414

    QGator2414 VIP Member

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    Eh...I got crushed on some CCL options recently. But this one was definitely good though!
     
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  6. Feb 3, 2025 at 9:16 AM #6
    wgbgator

    wgbgator Premium Member

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    A lot of this makes sense, but what's with bitcoin tanking (not that I'm complaining)? I thought crypto was like, ideal for black markets?
     
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  7. Feb 3, 2025 at 9:20 AM #7
    BLING

    BLING GC Hall of Fame

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    Weird. You were claiming to be holding tqqq calls the other day.

    Options day trading on leveraged ETF’s. Good luck with that.

     
  8. Feb 3, 2025 at 9:21 AM #8
    jjgator55

    jjgator55 VIP Member

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  9. Feb 3, 2025 at 9:22 AM #9
    sierragator

    sierragator GC Hall of Fame

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    Someone must have said something disparaging about his orange idol.
     
  10. Feb 3, 2025 at 9:26 AM #10
    BLING

    BLING GC Hall of Fame

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    Bitcoin is an “alternative” asset, and some see it as a safe haven vs the dollar. But it’s also seen as a risk asset, so if the market tanks some people may need to pull back on risk. If people need to cover for other losing positions or are seeing margin calls that could also cause some Bitcoin drawdowns.
     
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  11. Feb 3, 2025 at 9:28 AM #11
    CHFG8R

    CHFG8R GC Hall of Fame

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    Yeah, but if you're not MAGA you automatically are a "lib". Didn't you know that? Did you miss the MAGA Moron memo? Not get your official set of pom poms in the mail?
     
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  12. Feb 3, 2025 at 9:29 AM #12
    channingcrowderhungry

    channingcrowderhungry Premium Member

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    Bottom of a pint glass
    Fuel futures are up too. Not going to be surprised if everybody gets stuck with a bunch of fuel surcharges again like 5 years ago. It sucks but I just pass it all on to my customers
     
  13. Feb 3, 2025 at 9:30 AM #13
    CHFG8R

    CHFG8R GC Hall of Fame

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    It doesn't matter. Their heads are so far up the butthole of cognitive dissonance they're swimming in last night's dinner.
     
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  14. Feb 3, 2025 at 9:31 AM #14
    duggers_dad

    duggers_dad GC Hall of Fame

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    206 weeks to go.

    Pace yourself.
     
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  15. Feb 3, 2025 at 9:32 AM #15
    CHFG8R

    CHFG8R GC Hall of Fame

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    It's literally a line item for me.
     
  16. Feb 3, 2025 at 9:36 AM #16
    jjgator55

    jjgator55 VIP Member

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    It’s only 102 weeks before Trump once again loses the House and Senate.
     
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  17. Feb 3, 2025 at 9:37 AM #17
    citygator

    citygator VIP Member

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    Republican Senator "Smoot Harley was not successful and helped sparked the Depression, so I share the Market's concern"

     
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  18. Feb 3, 2025 at 9:49 AM #18
    Orange_and_Bluke

    Orange_and_Bluke Premium Member

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    [​IMG]
     
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  19. Feb 3, 2025 at 9:51 AM #19
    QGator2414

    QGator2414 VIP Member

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    I don't do it every day. I have my strategy. And try to stay disciplined with it. The TQQQs are a great way to play it though for a week or two out. CCL I play 3-4 months out when I do. But made $1050 with the calls I had the other day. And made $6120 this morning on the puts. BA I missed this morning when it opened down 3 but it is moving back down. I have them until the 21st so I may hold out. But now up $2000 after being even when they popped right after opening.
     
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  20. Feb 3, 2025 at 9:52 AM #20
    Orange_and_Bluke

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    Day to day market watch…stay tuned.
    Signed, the Angry democrats.
    [​IMG]
     
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