Good point, whipsaw action, I was right re mean reversion bounce in market. Crude down yesterday, back up today. I called VXRT INO in chatroom today, big runners. Took small stops in small inverses, still in a bit for overnight. S&P choppy af til eod weak upside breakout
Nike huge huge huge miss on earnings but no worries. Remember everything on wallstreet is always always alwayssss forward looking and everything forward looking is never NEGATIVE and ALWAYS POSITIVE !!!!!!!!!
Stress tests coming out in 5 minutes !!! A++++++++++++ for all the banks. They will all pass. No such thing as fail. Remember that!!! This should boost markets and bank stocks so easily tomorrow.
Oops! https://www.federalreserve.gov/newsevents/pressreleases/bcreg20200625c.htm "...For the third quarter of this year, the Board is requiring large banks to preserve capital by suspending share repurchases, capping dividend payments, and allowing dividends according to a formula based on recent income. The Board is also requiring banks to re-evaluate their longer-term capital plans. All large banks will be required to resubmit and update their capital plans later this year to reflect current stresses, which will help firms re-assess their capital needs and maintain strong capital planning practices during this period of uncertainty. The Board will conduct additional analysis each quarter to determine if adjustments to this response are appropriate. During the third quarter, no share repurchases will be permitted. In recent years, share repurchases have represented approximately 70 percent of shareholder payouts from large banks. The Board is also capping dividend payments to the amount paid in the second quarter and is further limiting them to an amount based on recent earnings. As a result, a bank cannot increase its dividend and can pay dividends if it has earned sufficient income..." Think the big bank stocks will dip on the news tomorrow?
A slight dip and then a huge rally. News of dividend cuts were ready being talked about....again this news although big for wallstreet is a non event.
Will trade finance inverse FAZ if sector takes a hit. Right re gold, I trade GDX vs DUST. Today the market was selling early, then upside pivot after banking news, don't fight the fed. Funny, just as market was selling off I told my traders in chatroom "watch for fed headline or tweet to stop the selling " and a few minutes later it happened
Another winning day today, go bears! Trading UVXY SDOW FAZ TZA SRTY SPXS etc. Mostly wins, though small stops in UVXY reversal and TNA deadcat bounce. Nice day. Mostly daytrading. Thx hafez re nudge to day vs swing these. I'm going to daytrade main account, swing in small cash account. Let's see if we can close under 3k
Yay bears -- another winning day! I think that, barring another fed propping bs intervention....or cv cure ... Wall Street Apocalypse coming next week Yippie kayo mfkr lol I've transferred additional money to my account so I can trade inverses more aggressively. You should all join my live room if you want realtime training in daytrading inverses like TZA FAZ UVXY etc www.tradingtheopen.com
Hmm.. where did all the permabulls vanish off to, lol With your don't fight the fed rhetoric Yeah I was way early with bearish bias the last couple months, but finally we may get strong selloff....or not . Any thoughts? I'm long inverses over the weekend, mostly focusing on daytrading UVXY TZA SDOW and oil, gold ETFs next week if they run. Though I usually don't daytrade Mondays unless strong move.
You seem like a nice guy Ken but I can't help but feel like this bearish bias of yours isnt going to end well. "Apocalypse" ? Comon man