It's called skill. No luck involved; as an award-winning MoneyShow speaker & #1-rated columnist for Stocks & Commodities magazine I trade technical patterns like the TVIX/SQQQ bullish engulfing pattern. Just sayin' but yeah it could all go against me, if so I'll scale out. It's ALL about risk mgmt...
Absolutely. I knew John Gotti and Tonal Dump is no John Gotti. For one thing he is a pussy. Every "battle" he has ever fought, including latest with China, he eventually backs down from. Gotti was tough as nails till his last days in the Colorado SuperMax.
I think we're in 1997/1998. There is no pets.com yet. Tesla is not pets.com. P/E is similar to 1998. We've _avoided_ the pets.com fiasco (for example, WeWork IPO)
Morgan Stanley's chief U.S. equity strategist says we may be in the throes of a 5% pullback for the stock market Michael Wilson , Morgan Stanley's chief U.S. equity strategist, says the first major stock market pullback since October may be under way. The strategist, in a research report dated Jan. 27 , references "correction," which market technicians usually define as a decline from a recent peak of at least 10%. However, his prediction that the market is more likely to decline by half that much indicates that he's forecasting a retreat from stocks that have hovered near records rather than a traditional correction. Wall Street investors, perhaps, shouldn't need the strategist to determine the current state of the equities, however. On Monday (http://www.marketwatch.com/story/us...s-china-coronavirus-spreads-worries-escalate- 2020-01-27), the Dow Jones Industrial Average slid 453.93 points, or 1.6%, to 28,535.80, following an intraday nadir at 28,440.47, while those for the S&P 500 index slid 51.84 points, or 1.6%, to 3,243.63, with an intraday low at 3,234.50. The Nasdaq Composite Index shed 175.60 points, or 1.9%, to reach 9,139.31, after hitting a low at 9,088.04. The Dow and S&P 500, marked their worst daily skids since Oct. 2 , and the Nasdaq Composite logged its worst day since Aug, 23, according to Dow Jones Market Data. Stock markets have traded south in the past several sessions, with the Dow momentarily losing its grip on gains for 2020, as a rapidly spreading virus in China has sparked fears of a global outbreak that could curtail economic expansion in the world's second-largest economy. Chinese health officials said the coronavirus -- an illness akin to SARS, or severe acute respiratory syndrome -- has spread, infecting more than 2,800 people and claiming at least 80 lives around Wuhan city, China , where it reportedly originated. However, Wilson said that the market's slump is likely to be limited due to a Federal Reserve that has proven quick to provide liquidity to stalled-out markets as well as ultralow interest rates, which currently stand at a 1.50%-1.75% range. The Fed holds a two-day meeting beginning on Tuesday. Read:These stocks are most at risk from the coronavirus (http://www.marketwatch.com/story/these-stocks-are-most-at- risk-from-the-spreading-coronavirus-jefferies-says-2020-01-27) Wilson said he expected the S&P 500, including defensive names, to continue to outperform emerging market assets and small-caps. The analyst and his research team explain it this way: While near-term risks have increased, we think that corrections at the index level will be contained to 5 percent or less while the defensive skew outperforms both growth and cyclicals until rates show some signs of actually bottoming or hard data suggests the recovery will be more robust than we currently expect. Check out the attached chart: Check out: The stock market's biggest problem this week isn't the coronavirus or Mideast tensions, strategist warns (http://www.marketwatch.com/story/co...the-stock-markets-biggest-problems-this-week- strategist-warns-2020-01-26) It is important to note that a number of analysts have said that financial markets, which have been trading near all- time highs, remain vulnerable to headlines surrounding the outbreak (http://www.marketwatch.com/story/why-the- coronavirus-outbreak-gives-stock-market-investors-another-reason-to-be-cautious-2020-01-24). Cases have turned up in other countries, including five in the U.S. , as well as Japan , Taiwan , South Korea , Singapore and France . In July of 2018, Wilson accurately predicted that the market would see its largest correction in months, with the rally showing signs of "exhaustion." He wrote then: "The bottom line for us is that we think the selling has just begun and this correction will be biggest since the one we experienced in February." However, his more recent predictions have been less on the mark, which he has acknowledged (http:// www.marketwatch.com/story/i-did-not-expect-us-to-be-at-all-time-highs-by-april-says-morgan-stanleys-wilson-as-stock- market-pops-2019-04-23). - Mark DeCambre ; 415-439-6400; AskNewswires@dowjones.com (END) Dow Jones Newswires 01-27-20 1847ET Copyright (c) 2020 Dow Jones & Company, Inc.