We will not get back to the high for a few more years, agree with S2007S. After that much panic, EU lockdown, corona virus, oil war etc.. People are scared. Every dead cat bounce will be sold into. A lot of people looking to get out with smaller loss, a break-even etc.. No one will be y buyer at 3100, let alone 3300.. Not in 2020 anyway.. People are finally starting to realise all this "not QE" repo pump and others QE before that are nothing but a hoax.. At least I hope they do.. Markets were way overbought by just about any measure. No need to look at Buffet indicators, earnings falling, huge P/B, P/E, P/S, almost no dividend etc.. Sure rates are low, but… And also what helped keeping stocks up were crazy amount of buybacks.. Unprecedented amount of money was spent on that.. Nope, not coming back until 2022
Markets will continue down with dead cat bounces for months. I think best trading setups are: a) slowly swing trade, scale into inverses like SQQQ SOXS SPXS SDS b) daytrade bounces on charts with wide range 2day charts like I did in NUGT today.
The Chinese CB/Govt has done one form or another in stimulus... at least 20 times over the last months/year.
The bear market has finally arrived...took long enough, but yes the bear is here and is going to stay a long long long longgggg time. Every rally will be sold from here on in. There are more people in retirement mode than ever before and those people will NEVER EVER EVER put another fuxking dime into this market. This market had its run, it's done done done. Bull market will be many years away. The trust is the financial market is completely gone, from historical highs to a bear market and one of the biggest collapses in history in only 3 weeks!!!! The fed cant save it this time, they already fuxked it up enough the last decade. Like I said if it weren't for the fed this collapse would have never occurred. Meaning the market would have never been as high as it was without fed spending trillions to keep it propped up, wo now you have a collapsing market with fed trying to once again save it. Not this time. If you get a chance to grab back some profits take it and run. Dont be fooled by this market and what it once was because thay once was is gone forever.
You guys think QQQs will close above $186 by end of month? It looks like on the monthly chart that $174 is the long-term support. Just curious. If it breaks $174 then it's really bad.... It might dip slightly below then it should bounce back up. If not then forget about it. It's over.
Exactly - This sell off has little if anything to do with Covid-19. This bull top had more red flags than most - a big sell off was inevitable.
%% YES; + I have a bullish/uptrend bias on QQQ for many good reasons, including history. BUT DOW-DIA + some stuff still looks weak even though I tightened stops on SDOW. [DAL+ BA, + XOM sectors still looks+ are weak....................................................................................] I don't consider the fact W Buffets buys DAL very bullish- he like to buy on lower+ lower prices LOL