Tale of the Tape
Good evening folks. Well, we failed to make it two up days in a row and we failed in epic 2020 fashion. The sawtooth lower continues mercilessly and it’s getting to the point where the comparisons to ‘87 and ‘29 are warranted.
Today was the fourth trading day in 8 in which circuit breakers were activated on the S&P 500 triggering a 15-minute trading halt.
The carnage has gotten too broad and too deep to summarize in a few tidy paragraphs. Industries related to travel, energy, and discretionary spending are getting decimated. Financials are getting decimated. Small caps decimated. Niedermayer dead…. And so forth. See below for a year to date performance chart for all sectors.
Everything else is just getting dismantled. Even utilities fell 4.35% today and are down 14.65% year to date. Consumer staples are down 11.5% year to date. Man…
| S&P 500 | 2,398 | -5.18% |
| Nasdaq | 6,989 | -4.70% |
| Russell 2000 | 991 | -10.42% |
| Dow Jones | 19,898 | -6.30% |
Oil. Brutal.
Oil also continues to get decimated. Today, oil futures dropped 17%, bringing them down 63.77% on the year. At some point, one would expect buyers. When that demand comes? No one knows. Place your bets…
Year to Date Sector ETF Performance
Energy. 💀
Stocktwits Social Sentiment
Stocktwits Social Sentiment has dropped 50% since the closing high in the S&P 500 on February 19th. Our community, which usually veers bullish, has been and continues to get more negative on the broad market. Social sentiment made a new low today.
One other note, yesterday, we mentioned that, while stocks rallied, Stocktwits sentiment continued lower, implying that our users were not buying the rally. Good call people. Good call…
Blue Apron 🔥🔥🔥
Blue Apron is up 600% since Friday as a food delivery coronavirus play. $APRN is still down 89% from its 2017 IPO price. Check out the insane chart below.
Bill Ackman “Shut it down now”
Hedge fund manager, Bill Ackman, called into CNBC today to talk about the coronavirus. Here’s the call if you’re interested. Not gonna lie, he was pressing the panic button, but he also mentioned he was buying stocks. 🤨
Walmart Ticked ATHs
During today’s session, Walmart made a new all-time high. The stock was unable to hold at those levels to the close but still impressive in this environment. Shout out to the kids in Bentonville.
Here’s $WMT’s YTD performance compared to the S&P 500.
Today on Stocktwits…
Shoutout to twitchie for this hilarious image.
And by the way, Chill with Bob Ross is available on Netflix. Enjoy.
Correction.
We apologize for the typo in yesterday’s Rip regarding the financial support Facebook is offering small businesses.
We mistakenly wrote that Facebook was offering $100B rather than $100M. Here is the statement from Facebook.
We’ve heard that a little financial support can go a long way, so we are offering $100M in cash grants and ad credits to help during this challenging time.
Thank you to those who pointed this out for us. We appreciate it.
Links That Don’t Suck
Viral Spiral Playbook: Navigating The Bear Market
Panic with Friends: Howard Lindzon and Rob Koyfman
How to Fight Hindsight Bias
Chloroquine + Zinc: South Korea’s weapon of choice against COVID-19
