Moby and his dick? Excuse me, the story is Moby Dick and his obsession with a whale that was ultimately his undoing. It seems like B1S2 is your whale. I seriously doubt widows and orphans are hanging on every word B1S2 speaks. You are a source of great, well reasoned trades and ideas, that I'm sure are appreciated by many, including myself. Please be nice to B1: Bark less and wag more, as the saying goes. Please? Remember, easy money is the fuel for market advances. The Fed is fully committed to propping the markets up until the economy recovers to where things hopefully can become self-sustaining on their own. Plentiful and cheap energy and new technologies could have potent "Bailout" power. Remember, the Fed acted decisively, well before any of the pandemic affected economic numbers came out. Thus in my mind, it is almost certain the lows have been made, absent a major adverse geopolitical development. If my read on this situation is wrong and we do take out the recent lows, we could be looking at systemic collapse with a entrenched negative feedback loop. The Fed, our President, and Congress will not just sit by and let that happen. $4T not enough? Let's try $8T. There is even an answer or two to deal with debasement of our currency. More on that later, depending how things transpire. We need a new New Deal? Done. Infrastructure spending up the wazoo. Painful inflation? Of course, but not necessarily immediately. Besides, even if inflation were immediate, would you really want to be under invested in cash, or worse, in a long term short? Don't fight the Fed and buy the dips for longer term trades is probably the best way to go. Your turn.
Unless something changes dramatically by the Open, read: a strong gap down, I think we're all set for a day with the main move being up and most likely a positive net change on the day. May see an initial sell during the Open before bottoming out and trading higher for the remainder of the day.
The mkt's telling us a ton of bad news is built in over the next 120 days. An example is oil. Even as oil was hitting lows the last 2 days stocks like Bp,cvx and rds are 50-70% off there lows of just 2 weeks ago. Even 200k potential deaths didn't crack us to new lows. I think new lows will come but it could be a while as that implies a 13% drop from here.
Floor construction continues here. We had a nice long overnight , but we are not quite ready for extended upside gains here prior to RTH. I believe we'll fester a bit and then head higher if we are going to. ---I believe we will.
Thats almost exactly what it was in the States when I made that post on March 15th. Hopefully it won't take off down there. Hard to believe we have 210,000 cases now. Confirmed Coronavirus Cases Are Growing Faster In The United States Than Any Other Country In The World Explore More Coronavirus growth for the top 10 countries in the world by the number of cases added yesterday. https://www.forbes.com/sites/trevor...d-states-than-any-other-country-in-the-world/ "Its not exponential growth" -@Buy1Sell2 Sure. Its exponential testing. Dumbest thing I've ever heard. Like it really f'ing matters.
They already have / had intentions to sell the market today / friday at latest. I know this pattern, do not be surprised to see 2350 ES and 7120ish NQ today.