Didn't take a trade Friday but good week overall. I would've shorted the last trading hour but I fell asleep. That's the pain of living in where the market opens 00:30 local.
Thoughts on CNBC floating this: https://www.cnbc.com/2020/03/29/wha...-buying-stocks-during-coronavirus-crisis.html We've got POTUS saying 100k dead and market points towards a green day.
Well a lot of people that manage relatively large sums of money never sell.... they literally just watch it go up and down collect there management fee and if it drops a lot, they are too scared to pull it out because than if it goes back up they look even dumber. If it keeps going down they can claim unprecedented market times made it out of their hands. Also, other institutions can't sell at a moments notice and can take days or weeks for orders to get executed. Add in the fact that a lot of people are bearish and likely shorting the markets and there's price points that third party's like the ones in the article can defend the markets at and force out shorts and potentially get new buyers interested. This doesn't really help me or anyone else make money, but just gives a general overview of how markets can still have some rallies left in them. I wouldn't be overly excited though personally if the markets had huge rallies back to the ATH, I'd be concerned that it would be a leading indicator of potential hyper-inflation. But I am no economist so who knows.