CNBC asking their guests if we are near a bottom. Well, on this leg maybe, but this is not a V-bottom like they seem to be implying.
btw, just a quick FYI in here for later on today when we're getting set to close things out for the week: we're flirting with the largest weekly % drop in the history of the DJ30 here. if we close around flat or red at today's close, it would indeed be the largest weekly drop on a percentage basis in the 124-year history of the DJ30. not even the crash of 1929, 1987, 2008, etc. etc. has seen a larger -% weekly drawdown than this one. edit: whoops i forgot to add, but the record to beat is -18.15% from the week of oct. 6th to oct. 10th of 2008, we're currently sitting around -17% for the week as of the time of this post.
Anyone got any idea what Trumps presser at 3:00 will be about - will it pump the market or dump it into the close?
Yes you are right. https://www.bloomberg.com/news/arti...-organic&utm_content=asia&utm_source=facebook
Don't know if a new record will be set, but if very recent (earlier this week) history is anything to go by, it could be rough afternoon after 3 PM today.
Just bought some PSQ to short the market heading into trump's speech this afternoon about coronavirus and the weekend.
Guys feeling a little sick today so not trading or posting. Good luck and hope you guys make some money
bummer sorry to hear this @stock1234 and i sure hope it is nothing serious. please do keep us posted whenever you can. hope you feel better soon!
that's kinda what i'm thinking too but who knows...i think @OldFart's "coin toss" remark is right on. that being said, the market is in uncharted territory right now with just how grossly oversold things are. doesn't mean we can't have bounces in bear markets. rallies in a bear can be quite ferocious. we saw that in 2008. and they can last several weeks. "sucker's rally" is a term that comes to mind that was used back in the days but ultimately, i think we still have more down to go. that /ES overnight low at 2380 will get tested...whether that is next week or week after, etc. just my worthless 2c here, carry on
