Stocks slumps with S Africa variant

[QuarterMillionMan]

Getting my booster today. As for stocks not buying or selling for now.

[disneysteve]

May be some good opportunities out there.

I got my booster 2 weeks ago.

[kork13]

May be some good opportunities out there.

I was thinking the same.... Just a question of what to jump at. Likely, just add a few discounted shares to a few of the holdings that I already have. But I'll need to look at how much I want to throw at it right now.

[srblanco7]

Staying the course. Neither buying nor selling based on a 2% market move.

[Scallywag]

I took advantage of the Black Friday sales in stocks today!

Loaded up on a few shipping stocks. These are new buys but think they might be profitable as long as the supply chain crunch continues with this new variant now on the loose. Fishing in troubled waters, so to speak. Only time will tell if that is smart or not!

[bjl584]

Looking for deals.
The panic is most likely overblown and unwarranted

[QuarterMillionMan]

Today I bought some HYG on the dip. Will buy more with more dips. BTW Pfizer booster only had a slight sore arm, got lucky and didn’t get any other side effects.

[ua_guy]

Looking for deals.
The panic is most likely overblown and unwarranted

In terms of the stock market, yeah.

It remains to be seen what this variant might bring (or not).

The airline industry is basically saying they can't do this again. I wonder how many businesses are in the same boat.

[bjl584]

In terms of the stock market, yeah.

It remains to be seen what this variant might bring (or not).

The airline industry is basically saying they can't do this again. I wonder how many businesses are in the same boat.

I'd say most restaurants are saying something similar (assuming their doors are shuttered again)
But there has already been some talk suggesting that there won't be more lock downs in the US
We might see masks return and maybe some capacity limits to events in certain areas.
But I doubt we will go to the one size fits all total shutdown that we say when this all first started.

Viruses mutate. That's what most of them do.
Once we get used to the idea of an updated Covid shot annually like we have to do with flu shots things will probably settle down
Right now the media is sensationalizing words like "variant", "mutation", "Omicron", etc.
People are a bit on edge.

Earnings are strong, money is cheap, consumers are spending money.
I see no reason for the market to correct.
At least in the short-term.

[LivingAlmostLarge]

So what if omicron is more transmissble? If most people are just getting a cold like symptoms if they are vaxxed is it a big deal? Just wondering if we are overreacting?

[ua_guy]

So what if omicron is more transmissble? If most people are just getting a cold like symptoms if they are vaxxed is it a big deal? Just wondering if we are overreacting?

Right now, it sounds like the bigger problem is uncertainty. The knee-jerk was to contain the spread (travel bans) but from experience early in the pandemic, now it's known that enacting bans won't do a whole lot. It's already spread. Today, they found it in California. It's already on US soil, and probably has been.

There are a few more things needed to determine the impact, which I haven't seen a lot of information in the news:

1) Do the existing vaccines prevent serious infection and hospitalization from Omicron? Moderna is saying it's likely they do, but research is ongoing.
2) Is it more/less lethal to unvaccinated people?
3) If existing vaccines work, What is the existing level of immunity now that a lot of people are 3, 6 months down the line from their vaccination series, and how protected are those with naturally acquired immunity? Recently the CDC said go nuts, almost everyone is eligible for a booster in case it does help prevent Omicron.

The stock market is like the dog barking before the earthquake. It remains to be seen how destructive it might be.

Personally, I'm worn out. Fingers crossed that Omicron is less deadly.

[QuarterMillionMan]

Today the stock market did a reversal, this morning the Dow was about +250, at market close it reversed to -461. What happened? Cannot be omnicron as Biden continually refers to it (lol). I'm thinking of throwing some money into the VIX, more specifically VXX the EFT. Also, maybe some oil EFT's as well.

[disneysteve]

Today the stock market did a reversal, this morning the Dow was about +250, at market close it reversed to -461. What happened?

Certainly, COVID generally and the new variant specifically are still weighing heavily on the world economy. The market hates uncertainty and right now we just don't know anything. We don't know how much impact Omicron will have. Delta was devastating. Hopefully Omicron won't be as bad.

Another factor right now is the news that SCOTUS may be poised to overturn Roe. That would negatively impact the economy, women in the workforce, racial inequality, healthcare, job growth, employee retention and recruitment, poverty levels, and more.

[kork13]

I've had a few of my low-ball limit order purchases that I set weeks ago go through over the last couple days. Won't complain about the cheap shares...

[bjl584]

Today the stock market did a reversal, this morning the Dow was about +250, at market close it reversed to -461. What happened? Cannot be omnicron as Biden continually refers to it (lol). I'm thinking of throwing some money into the VIX, more specifically VXX the EFT. Also, maybe some oil EFT's as well.

Everything I read is that it was tied to Omicron and the uncertainty surrounding it.
The market is also worried about the Fed staying on track with tapering despite the new Covid variant