I'm not usually one to mess with "funnymentals" as Mr. Ed used to say. But, I do think we may have the opportunity generate several years worth of profits this year - an opportunity that hasn't existed since 20007 - 2009. Since September, the Fed has been pumping money to the banks and brokers like its 2008. No one is paying attention: Impeachment, coronavirus, Bernie the Socialist ... all distractions. Dodd-Frank doing what it was meant to do: No more need for Congress to vote for public bailouts. Everyone is now a bank holding company. The Fed can inject capital at will. Now the Fed can do it directly, and so the public doesn't know about the current crisis and bailout, "the market," i.e. the banks and brokers asking for Fed dollars are now recognizing the size of the problem. As with 2008, timing the panic is difficult, but once it gets started, look out below. In about six weeks ma and pa kettle start getting their Q1 IRA, 401(k), 403(B), Keogh, SEP, SERP etc statements. Then it will really get fun. In the meantime, anyone who wants to fact check me can do so directly at the Fed website (though you better do it soon before Trump orders access taken down). https://apps.newyorkfed.org/markets/autorates/tomo-search-page EDIT: I am not saying that I timed this. I'm just agreeing with @speedo that the markets will do what they are going to do, and this one has every reason to be real volatile - up and down - for months to come.
We must get above 3060 and have it hold for there to be a chance for bulls today and it is very possible.
No doubt. I already took a decent slice and am taking a breather here. We're currently seeing 'shallow' retraces that normally would be the day's main move. Edit: And decent fills require really fast execution. Missed the boat a few times the last days. Luckily, there's plenty of second chances in this market.
You have to be able to swing both ways and stop and turn on a dime. I'm 2/2 since the ding ding ding and first trade long second short ... fun fun fun