sorry about this who followed but this was some bullshit that played out and I'm saying this cause I listened to the call and watched the tankage and the bounce up to and then the draw down.
Food for thought gas is at a low so tankers should be worth looking into, you might be thinking why. Reason is there is no need to come ashore at these prices wait until gas price go up again then unload their haul or make as much trips as possible for hoarding purposes.
I been short DB for a very long time so I not going to write this in ever post cause I see it as a waste of time that being said I'm cash now till I see a stretch of either up or down movement (2 continuous days), today is a watch and see day plus the weekend is here they say markets don't tank on Friday's. As of today I'm done with playing virus related stocks flu season is coming to a close which is April month so I'm not going to expose myself to a falling knife if you are playing them good luck see you end of year for the second round of covid or whatever new name they will use.
Germany has ended austerity so I think it is time to close DB I was hoping to see this go to $3.00, it was fun watching this tank in my favour.
If the DOW stays above 20300 by 3:45 - 3:50pm today, a trade will be on for a bounce tomorrow. I will update just before I take the trade if there is a reward in taking a trade.
Futures was halted last night so today look for tankage. At this point and time I say let the market find it's own bottom if it is 19 or 10 thousand so be it. The market was due for a correction, it might not have been so bad economically for some business but the media and social media have made it worst. Maybe this halt and draw down to follow will be the final blow somehow I think it might be but then when I hear about nonsense like this I begin to have a change of mind, Italy Spain France and Belgium banned short selling these f**king idiots that never worked in the field really are out of touch with how the market works so here goes more idiotic reasoning. I have no play on, waiting till market opens then before will play according to the trend.
I have said this before I tend to stay in my own lane but once in a while I take a peek in other lanes to see different reactions and I have to say I came across a few outrageous bs post in different lanes about doom and gloom. This will be my last post on who or what to blame for the market draw down it was due plain and simple. The thing that bothers me is the doom and gloom jokers steering the young uns in the wrong direction.
The bounce was short lived DIA went to 205+ then headed south the interesting part is 19K was broken so it's an indication that the downward movement is not over and could continue into the end of week. I don't see this as a bear market what one have to look forward to is the move up, the market test floor support to see what will hold and what will give I don't know about timing the market what I do know is this, a bear trap is being set and the upswing is going be a massive ride up.about No play going into tomorrow don't want to hold anything going into the next day.
just read a few interesting articles: covid19 evidence over hysteria by Tyler Durden, History called and senator burr called his broker Kevin D Williamson , Italy's elderly suffer heavy toll as virus spreads new york times Jason Horowitz Toilet rolls and treasury bonds tell same panicked story by Gillian Tett FT.
I'm looking at ODP to hold for a long play the reason if the masses are going be working from home then ODP should see some action.
I'm looking into a merger that is scheduled for 30 Mar will update later once the I's and T's are dotted and crossed.
I been cleaning house today dodge a bullet with KR and finishing off research on merger will update when I'm sure I will pull the trigger on the merger
Short from here till further notice it's been a struggle to get pass 22373 the kiss of death gap between the DOW and S&P is very close. Good luck if you are long here.
