10:08 am: Mnuchin working with Fed to provide $4 trillion in liquidity, trying to reach deal today with Congress
Secretary of the Treasury Steve Mnuchin said Sunday the administration is working with the Federal Reserve to offer up to $4 trillion in liquidity financing that can be used to support the economy.
“We can lever up to $4 trillion to help everything from small businesses to big businesses to get through the next 90 to 120 days,” Mnuchin said on Fox News Sunday.
Mnuchin also said the administration is trying to reach a deal with Congress today regarding an economic relief package that could top $1.8 trillion. Highlights of the package include small business retention loans that would give businesses two weeks of cash flow, a direct deposit for Americans with the average deposit being $3,000 for a family of four and enhanced unemployment insurance for people laid off because of the coronavirus.
Hospitals would also receive approximately $110 billion in aid, according to Mnuchin
Oil dropped 11% on Friday, giving back early gains, even as the world’s richest nations poured unprecedented aid into the global economy to stop a coronavirus-driven recession and U.S.
U.S. crude futures for April fell $2.79, or 11.06%, to settle at $22.43 per barrel. Brent crude futures fell $1.49 or 5.2%, to settle at $26.98 per barrel.
USA is currently facing the exponential curve (growth) of their Covid-19 infections n deaths ... This period could be as long as 2 weeks to 2 months ... More lockdowns are needed to contain the spreading of this virus ... Equities n oil price could be affected by the lockdowns ...
If you've paid attention to previous bear markets, you'll recall that reversals tend to happen suddenly, unexpectedly, and often when it seems there's every reason in the world that they shouldn't. Markets are chaotic like that. What's more, by the time you recognize it as a true reversal you'll have already missed out on it.
I have no idea what the market will do tomorrow, two weeks from now, or a year from now. Neither does anyone else. It might reverse tomorrow. It might continue to lose value for the next year.
I'll leave you with a quote from Warren Buffett:
Every decade or so, dark clouds will fill the economic skies, and they will briefly rain gold.
By the time you recognize the dark clouds are raining gold the shower will be over. If you’re waiting on the sidelines you’ll likely miss out.
Hence like I said earlier, it's difficult to determine when it's the best time. Opportunities does not comes too often. So when it comes just do what's the necessary..
Right now anything less than 15 sen is a bonus to grab
Honestly, i think anything below 25 cents in cheap and good value for Velesto. Below 15 cents is steal, what you waiting for. I been trying to que at 10.5 and not matching. Will try again tomorrow.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
KAQ4468
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Posted by KAQ4468 > 2020-03-21 22:47 | Report Abuse
aiyooo