Stock Market Today: March 16th - 20th, 2020

Discussion in 'Stock Market Today' started by Stockaholic, Mar 13, 2020.

  1. surfsup

    surfsup Active Member

    Joined:
    Apr 3, 2016
    Messages:
    195
    Likes Received:
    47
    Not touching TSLA. That company is a mess. I'd sell any bounce. The debt-ridden spike signaled the top imo
     
    Steven_Burt and OldFart like this.
  2. OldFart

    OldFart Well-Known Member

    Joined:
    Apr 3, 2016
    Messages:
    1,959
    Likes Received:
    1,813
    def a record for number of circuit breaker hit in a one month period....
     
    Stockaholic likes this.
  3. Stockaholic

    Stockaholic Content Manager

    Joined:
    Mar 29, 2016
    Messages:
    13,767
    Likes Received:
    7,050
    i feel like we're getting very close to some sort of short-term panic/capitulation/whatever we want to call it low here in the market.

    feels like most of the bad news is now baked into the cake.

    unless we're somehow going into a 1918 spanish flu pandemic (no way jose!), this all does seem like a massive overshoot on the downside imo.

    just like the upside last month was getting to be a bit of an overshoot on the upside.

    looks like we just about hit @Venom08's DJ30 downside target almost to a tee and have thus far bounced! very interesting.
     
    OldFart likes this.
  4. OldFart

    OldFart Well-Known Member

    Joined:
    Apr 3, 2016
    Messages:
    1,959
    Likes Received:
    1,813
    Can't believe it....

    Got into USO Jan 15, 2021 $9.50 / $10 call spread for $.07
    Max sell price $.50

    Max profit = $0.43

    Possible 6 bagger :eek:

    math was all messed up...lol
     
    rg7803, Kristi, Steven_Burt and 2 others like this.
  5. stock1234

    stock1234 2017 Stockaholics Contest Winner

    Joined:
    Apr 3, 2016
    Messages:
    5,584
    Likes Received:
    4,619
    Seems like everything is selling off today, bonds, gold and equities are all down :eek:
     
    OldFart likes this.
  6. OldFart

    OldFart Well-Known Member

    Joined:
    Apr 3, 2016
    Messages:
    1,959
    Likes Received:
    1,813
    Just put in a GTC order for $0.42 :D....got till Jan 2021
     
    Steven_Burt and Stockaholic like this.
  7. OldFart

    OldFart Well-Known Member

    Joined:
    Apr 3, 2016
    Messages:
    1,959
    Likes Received:
    1,813
    SPY bouncing pretty good right now
     
    Stockaholic likes this.
  8. rStock

    rStock Well-Known Member

    Joined:
    Sep 27, 2016
    Messages:
    89
    Likes Received:
    105
  9. rStock

    rStock Well-Known Member

    Joined:
    Sep 27, 2016
    Messages:
    89
    Likes Received:
    105
    VIX is almost there at the top ...
     
    OldFart likes this.
  10. Stockaholic

    Stockaholic Content Manager

    Joined:
    Mar 29, 2016
    Messages:
    13,767
    Likes Received:
    7,050
    just putting this in here in case i somehow forget to bump this later on this evening @Venom08.

    holy cow you nailed those calls to a tee (again!) :eek:

    the USD is having its best day in years today, and the DJ30 literally hit your downside target on the nose.

    golden mang! :cool:
     
    stock1234, BrendonA and OldFart like this.
  11. OldFart

    OldFart Well-Known Member

    Joined:
    Apr 3, 2016
    Messages:
    1,959
    Likes Received:
    1,813
    Grabbed VIX November 18, 2020
    $11 / $12 put spread for $0.21
    Max sell price $1
    Max profit $0.79

    Little bit of a gamble, but if this virus dies off, it could pay off.

    GTC order to close @ $0.80
     
  12. Venom08

    Venom08 Active Member

    Joined:
    Apr 3, 2016
    Messages:
    94
    Likes Received:
    70
    I've fully loaded up my SEP-IRA by now, the bottom is coming up no later than Monday. Low should be around 18800-19200 on a closing basis.
    Currently buying a ton of SPY, DIA, QQQ, UDOW calls that expire next year and 2022.
    I'm long UUP (long US$) via calls and I bought puts on FXE (it's a bullish Euro etf)
     
    Stockaholic and OldFart like this.
  13. Venom08

    Venom08 Active Member

    Joined:
    Apr 3, 2016
    Messages:
    94
    Likes Received:
    70
    haha thanks! I'll be honest 2018 screwed me over because I bought the crash back then with calls but got burned later that year. They were mostly set to expire in the spring of 2019. I've slowly rebuilt my account since then, and it's probably the most it's gone up ever this past month. Most of my gains have been from gold shorts though.
     
    stock1234, OldFart and Stockaholic like this.
  14. OldFart

    OldFart Well-Known Member

    Joined:
    Apr 3, 2016
    Messages:
    1,959
    Likes Received:
    1,813
    Looks like Bernie dropped out...
    bernie_diaper.jpg
     
    stock1234 and Stockaholic like this.
  15. Stockaholic

    Stockaholic Content Manager

    Joined:
    Mar 29, 2016
    Messages:
    13,767
    Likes Received:
    7,050
    well, another new record for most consecutive 4% (+/-) closes on the SPX today at 8 in a row :p

    also, did we mange to "close" above the 2018 xmas eve massacre lows on the SPX? i think we did right?

    ed: looks like we did, interesting.

    [​IMG]
     
    Ken34 and OldFart like this.
  16. OldFart

    OldFart Well-Known Member

    Joined:
    Apr 3, 2016
    Messages:
    1,959
    Likes Received:
    1,813
    Kristi, Ken34 and Stockaholic like this.
  17. OldFart

    OldFart Well-Known Member

    Joined:
    Apr 3, 2016
    Messages:
    1,959
    Likes Received:
    1,813
    NYSE to temporarily close trading floor, move to electronic trading because of coronavirus
     
    Steven_Burt and Stockaholic like this.
  18. Stockaholic

    Stockaholic Content Manager

    Joined:
    Mar 29, 2016
    Messages:
    13,767
    Likes Received:
    7,050
    ok, so far this drawdown in the market off the ATHs on a closing basis is -29.5% or at least on the SPX.

    something tells me the lows could be in, at least on a very short-term basis. this week def. felt a bit more panicky, and disorderly than i have seen in a very long time. i feel like this was a real overshoot on the downside imho.

    i'd be very curious to see if someone can put up a chart in here of one of the indices with the long term RSI. i'm interested to see if we broke any kind of oversold readings going back 10 or more years. i feel like maybe we did this week? but can't confirm.

    anyway, thus far this is the 2nd worst correction during an election year, with 2008 obviously still leading it by a mile. it will be very interesting to see how these next couple of weeks/months go. but, i just have a sneaky feeling that we might have seen the worst of this for the time being. feels like all the of bad news is now in the market for now. just my 2c here. :p

    [​IMG]
     
    BrendonA, stock1234 and OldFart like this.
  19. OldFart

    OldFart Well-Known Member

    Joined:
    Apr 3, 2016
    Messages:
    1,959
    Likes Received:
    1,813
    SPX weekly chart....def heading for the 20 RSI

    SPX_WEEKLY.png
     
    BrendonA, Stockaholic and stock1234 like this.
  20. stock1234

    stock1234 2017 Stockaholics Contest Winner

    Joined:
    Apr 3, 2016
    Messages:
    5,584
    Likes Received:
    4,619
    8% yield for BA, dividend cut looks likely at this point
     
    Stockaholic and OldFart like this.

Share This Page