Well, it appears that institutional investors are scrambling to get some cash out of their equity positions. Volumes of trades are huge, hitting highs across the board. Needless to say, it will probably gets worse as the week goes on. Airlines and transportation sector issues have been hit hard. The chief lobbyist for the group of domestic airlines has published a letter sent to Congress asking for a billion dollars of financial assistance. Some in Congress replied that money could be made available, but with CONDITIONS-such as better treatment of customers, ie. you and me, the flying public who have been abused by the big boys for years, even after Dr. Gao was forcibly dragged off a United Airlines flight to make space for an employee. Perhaps the airlines will have to increase the size of on board toilets. Perhaps they will have to reduce "FEES" for everything, including overhead luggage space. Maybe the airlines will have to be NICE for a change. Maybe the Chief Punk of the Airline Industry, Oscar Munoz, CEO of United will have to retire, bad replacement heart and all. He is the supreme corporate dirtbag of all dirtbags.
But I digress. The market is in turmoil and there's no end in sight until health officials can give us all a glimmer of hope before society in general grinds to a halt. Nothing like this has happened since Pearl Harbor was attacked on Dec. 7, 1941.
Perhaps individuals will hold on while Wall Streeters panic and sell, sell, sell. They are a bunch of nervous types anyway, always leery of the next big debacle. After the 11 years of momentum market, traders and Wall St. are getting the usual harsh lesson in economics and business. All the textbook publishers are gearing up for the aftermath publications that will highlight all the gurus who "knew" it was coming and sold short and took cash out in early January after the events in Wuhan China went worldwide. Can't wait.
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