Yeah looks like NASDAQ hit ATH today For whatever reason a lot of tech stocks on my watchlist are red today
looks like SPY is running right into the open of the gap down back in February. Does anyone else see a pullback here?
I see Gold possibly popping over the next couple days. I could possibly be entering a position tomorrow depending on price action.
funny how quickly the tides have turned since the covid crash ... back on march 23rd basically everyone and their cousins were thinking the 2007 highs would come into play for the majors. i won't lie, but i wasn't in the V-recovery camp at all. but, as @stock1234 and others have alluded to many a times in here, we're now in this BTFD (soon to be BTFATH ) mentality, where now everyone and their cousins think the FED and other CBs have got the markets back no matter what. as one person once coined way back when "the data doesn't matta" -- speaking of the economic numbers and earnings, etc. we either get improving news and the market rips a new one, or we get meager data and the market still takes it in stride, because, well QE-infinity how long this lasts is really anyone's guess, but it will be a spectacular sight to see when the market no longer responds favorably to FED intervention
The National Bureau of Economic Research said Monday that the COVID-19 crisis has officially launched the U.S. economy into a recession. A recession is generally perceived to be two consecutive quarters of negative growth in U.S. production, measured as real GDP. But the NBER has other criteria that can constitute a recession, which is particularly applicable to the COVID-19 crisis given the speed of the economic downturn. The committee looks for a “significant decline in economic activity” across several economic indicators, which covers not just GDP but factors like real income and employment, as well as retail and manufacturing sales. The NBER said official data from the Bureau of Labor Statistics confirmed that the labor market peaked in February. On production, GDP figures have yet to be published for the quarter covering the brunt of the pandemic. But the NBER said monthly readings on real personal consumption measures appeared to confirm that the U.S. consumer - a key driver of the economy - also peaked in February. When the NBER declares a “peak,” it essentially marks the beginning of a period of “significant decline.” It'll be funny when they come out next month and declare the recession over.
gonna agree with @T-Coonazz here, def looking like we're overshooting/overheating and setting up for that inevitable blow off. not there yet but perhaps nazzy 10k and dow 30k in the headlines will do it
I have no idea when the music will stop with the QE, for now I guess this market probably will continue to go higher on excessive liquidity
I hope we get a gap up in the morning. Closing above 3222 makes it seem possible. Starting tomorrow I'll be buying puts way up here and shorts below 3000. (well at least that's the current plan)
FED decision tomorrow. Don’t think the FED will surprise us that much but if they do then could be a wild day tomorrow
Traders putting money into big tech stocks again, AAPL, FB, and AMZN all up well over 3%, NFLX also up almost 3%
SPY attempting to move into the short squeeze / sucker in more longs area from yesterdays EOD. Looks like big money still doesn`t have enough buyers to sell to.
Well I have 1/2 a position in SH calls. I'll add another 1/4 position if we close below today's low and the last 1/4 below the ma(9). I'm also on the hunt for some individual names here to buy puts on, and I plan to exercise at least a portion of my SH calls ( I've never done that before) and below 3K I'll move to shorting. LOL you could say that I'm a bit bearish here (and I hope the FED doesn't completely ruin my plans) but I think this could be an awesome opportunity to get short. I'm trying to pace this so gains cover stops. Only a big pre market gap up could use me losses at this point.
Friend of mine called and asked what he should be doing here. He is long term kinda player. I said I have no frikin idea because nothing makes sense. Just stay long some stuff that works for you, buy some puts for downside protection as insurance and see what comes next!
