Defo nutty!! https://edition.cnn.com/2020/06/03/investing/stocks-market-dow-jones-riots-coronavirus/index.html My simulation, within a simulation is starting to not be believable.
Before we all get suckered into celebrating the "unlimited Fed"... here's an anecdote. In Turkey from ~1983-2005, their stock market soared more than 2,000,000%! Had an investor been in on it from the very bottom and held for the entire rise... by the time they got done with the revaluation of their currency, such an investor would still have lost 98% of his buying power... a cup of coffee cost 3,000,000 Lira before the revaluation. IOW... there is a dark side (and a potentially catastrophic one if they press it far enough) to "unlimited Fed".
Although I still expect a major selloff is likely to happen sooner rather than later...as it seems overbought, frothy.... Price action is all that matters I'm doing a lot more daytrading than swings now. Favorite strategy is intraday swings, buy by 10am, use 1 point trailing stop, out by 4pm. Using trailing stops in case of midday or eod reversals
Oh no doubt this won’t end well. But for the last 11+ years the Fed stepped in anytime the S&P threatened the 200 day MA. And less than a month after making all time highs the Fed dropped a nuclear warhead of Corona stimulus and then capped it off with a junk bond buying package! Where is the risk? The Fed has completely removed all price discovery and fear.
Perfect timing. ECB boosts emergency stimulus by $676 billion More free money for European markets just like here in the states. Keep that free money coming. The European Central Bank increased its Pandemic Emergency Purchase programme by a further 600 billion euros ($676 billion) on Wednesday. Markets were largely expecting a 500 billion euros ($563 billion) increase. The new package takes the ECB's total announced monetary stimulus to 1.35 trillion euros ($1.52 trillion). ECB also extended its horizon for net purchases until at least June 2021. https://markets.businessinsider.com...nounces-further-676-billion-2020-6-1029280471