That’s during some of the toughest times in history . Wow . Stocks like Apple and Amzn never even got near their 52 week lows . Were now in uncharted waters with such wealth concentration in 5 stocks . Almost 1/4 of the total s&p in 5 stocks . Just mind boggling . These are just amazing facts I list and gave zero bearing on how I trade . I trade price only with zero emotion
Hey hafez50. It seems from some of your posts that you are also reinforcing the concepts of trading what you see and not what you think for your own benefit -- good stuff. This market rally off the March 23 lows has been one which proves you need to let the market show you what IT wants to do. Keep up the good work! Best wishes to you!
Good points, price action is all that matters. I'm still fighting the common sense reaction of why the fck the market rallies when earnings are crushed, 30 million people just unemployed, deadliest killer pandemic in a century, companies going bankrupt, and economy wrecked. Wtf. Biggest disconnect I've ever seen. But you've gotta trade the data not common sense
Thank you sir . I've been doing this 31 yrs full time . I only list these crazy facts . I want people to understand the magnitude of whats going on . But my sole function is to go to the bank daily . If i can't make my House payment can i tell the company" Look Amzn's trading at 100 times earnings its not fair". They'll laugh at me as there kicking me to the street. None of this means you can't short on an intraday or multi day basis . But it does mean that you must be very cautious when shorting and have stops in . It means you always must trade what you see not what you think. And i understand thats very very hard as a trader. We see all the fraud and manipulation that goes on and it can taint your bias to the negative side . But you must resist and make going to the bank every day your goal wether its being long or short . When i talk with a person that is very negative or only wants to short i simply say " Does your bank give you less credit for your deposit wether its short or long profits. They say no. Then i say why do you care if you make the money long or short?"
Ken and as you well know the street will always give you a reason why AFTER THE FACT. These same analysts cheerleading now were the same ones spitting on this 2 months ago. wall street has convinced all that this is a max 6 month event then everything back to normal . Then when they pull the rug they'll say the rally was insane . Then the longs sitting with big loses saying wait you told me all was great . Then they laugh at you SUCKER . lmao
%% Sometimes common sense does not apply-mr musk said his tsla stock was to high recently/LOL Part of it is FED; part is some look ahead 6 months+ we are nowhere near NY or Italy's 10% kill rate...……………………………………………………………………………….. part of it is too hard to figure out, like why xom pays a bigger dividend, so multiply that by 500;same for nasadaqqq
Italy isn't even on 0.1% kill rate LOL As Dozu says the virus itself is a nothing burger, but the effects wacky!
Forget the virus it was just the excuse . After 11 yrs of a massive bull mkt we were due for a bear mkt. Wether that bear mkt is over with who knows .But we know business won't return to what it was for a long time of a yr or more.The ball has started rolling with permanent layoffs which means lower demand going forward for a while. So you can make a huge argument these stocks are no longer worth 24-40 pe's with much lower growth . But again the mkt decides that
They got to push the price up for a while, so they can sell and switch to the short side, this likely got a head of them and at the low's would of cost them billions, they'll be shorting it down when nobody expects pretty soon, when the news is buy buy buy LOL