Welcome Stockaholics!

We are a new and fast growing financial forum! Sign up for free and let's talk stocks!

  1. Do you want to help develop this community? We are looking for contributions from investors and traders like you! What stocks do you follow? What is hot right now? Sign up and get in on the ground floor of the newest, fastest growing financial forum!
    Dismiss Notice
  2. You will notice a live chat widget on the right. Click in to join us and lets hear about how you nailed that last UWTI trade!
    Dismiss Notice

Stock Market Today: June 15th - 19th, 2020

Discussion in 'Stock Market Today' started by bigbear0083, Jun 12, 2020.

  1. Frankenstein

    Frankenstein Active Member

    Joined:
    May 18, 2016
    Messages:
    569
    Likes Received:
    187
    The collapse last week and up to today tells me that the SPX is susceptible to collapsing to non above SPX 2900 at some point--even with the FED intervention [the FED action today shows that even the FED is aware of that]. I'm all out now. But, now, I shall be ready for that when that happens
     
    anotherdevilsadvocate likes this.
  2. bigbear0083

    bigbear0083 Content Manager
    Staff Member

    Joined:
    Mar 29, 2016
    Messages:
    22,799
    Likes Received:
    8,264
  3. Ken34

    Ken34 2017 Stock Picking Contest Winner

    Joined:
    Apr 4, 2016
    Messages:
    1,765
    Likes Received:
    913
    they got me good yesterday. i sold out of my CCL for a small gain. wasnt trying to hold that during any kind of volatility lol
     
  4. anotherdevilsadvocate

    anotherdevilsadvocate Well-Known Member

    Joined:
    Apr 3, 2016
    Messages:
    3,991
    Likes Received:
    2,632
    Stock Rise as U.S. Growth Outweighs Covid Concern: Markets Wrap
    from bloomberg.com: "Stocks rose for a third day as optimism over a recovering U.S. economy overrode concern that coronavirus cases are worsening in locations ranging from Texas to China."

    I'm not buying this optimism. How do people think the economy will recover V-shaped when 'rona cases are increasing? Heck McDonald's doesn't even have a full menu yet.
    The market went V-shaped, is a pretty clear indicator that total shutdown was the wrong action to take.
    But now we're in a classic "buy high, sell low" situation, re-opening the economy when there are more cases than before.

    We're officially in a recession now. That February high in S&P may be out of reach for a while.
     
    Steven_Burt, stock1234 and T0rm3nted like this.
  5. anotherdevilsadvocate

    anotherdevilsadvocate Well-Known Member

    Joined:
    Apr 3, 2016
    Messages:
    3,991
    Likes Received:
    2,632
    Nasdaq hit 10k this month. That last time it ran up to a nice round number, it pulled back for a while.
    [​IMG]
     
    T0rm3nted and stock1234 like this.
  6. stock1234

    stock1234 2017 Stockaholics Contest Winner

    Joined:
    Apr 3, 2016
    Messages:
    5,412
    Likes Received:
    4,280
    On Sunday evening it looked like it could be a beginning of a pretty deep correction, now it looks like risk on again for stocks after the FED announcement yesterday :p
     
  7. Vdubman

    Vdubman Active Member

    Joined:
    May 2, 2016
    Messages:
    387
    Likes Received:
    234
    I forget if during the 2008/9 crisis, did the feds buy physical company bonds like they announced they will do Now?
     
    stock1234 likes this.
  8. stock1234

    stock1234 2017 Stockaholics Contest Winner

    Joined:
    Apr 3, 2016
    Messages:
    5,412
    Likes Received:
    4,280
    I don’t think they were buying corporate bonds ETF or individual corporate bonds during the financial crisis
     
  9. stock1234

    stock1234 2017 Stockaholics Contest Winner

    Joined:
    Apr 3, 2016
    Messages:
    5,412
    Likes Received:
    4,280
    North Korea blows up joint liaison office with South in Kaesong

    https://www.bbc.com/news/world-asia-53060620


    India-China Border Standoff Turns Violent, With 20 Indian Soldiers Dead

    https://www.wsj.com/articles/india-china-border-dispute-turns-deadly-11592305962

    Beijing coronavirus outbreak: travel restricted to tackle 'extremely severe' situation

    https://www.theguardian.com/world/2...break-travel-restricted-china-severe-measures

    Texas reports highest number of hospitalized coronavirus patients since outbreak began

    https://www.cbsnews.com/news/texas-coronavirus-hospitalized-patients-highest/

    A lot going on for the last 24 hours :eek:








     
    Steven_Burt likes this.
  10. stock1234

    stock1234 2017 Stockaholics Contest Winner

    Joined:
    Apr 3, 2016
    Messages:
    5,412
    Likes Received:
    4,280
    What a day for IQ :eek: I was still down 4 or 5% for my position yesterday, now up very nicely :D
     
  11. stock1234

    stock1234 2017 Stockaholics Contest Winner

    Joined:
    Apr 3, 2016
    Messages:
    5,412
    Likes Received:
    4,280
    I feel like we are up on the massive liquidity provided by the FED, the market probably is not super optimistic about the economic recovery :p
     
  12. anotherdevilsadvocate

    anotherdevilsadvocate Well-Known Member

    Joined:
    Apr 3, 2016
    Messages:
    3,991
    Likes Received:
    2,632
  13. Vdubman

    Vdubman Active Member

    Joined:
    May 2, 2016
    Messages:
    387
    Likes Received:
    234
    wow what happened to UONE today? no news and its up 1000% from last week.
     
  14. bigbear0083

    bigbear0083 Content Manager
    Staff Member

    Joined:
    Mar 29, 2016
    Messages:
    22,799
    Likes Received:
    8,264
  15. bigbear0083

    bigbear0083 Content Manager
    Staff Member

    Joined:
    Mar 29, 2016
    Messages:
    22,799
    Likes Received:
    8,264
    wow! that is a lot to chew on over 24 hours for sure.

    i can't find where i read this, but someone on the forums here was asking how anyone can do logical trading in this market environment. and one of the responses, which i really liked, was how we can pretty much throw away all logic out the window, thanks to the FED.

    logic right now would be to soh (sit on hands) and do nothing, but with the FED basically going all in with both feet with soooooo much intervention in the markets, you really can't put any logic at all in this market.

    honestly, i feel like the market should be tons lower right now with all that is going stateside and abroad, but the FED has basically put a backstop to any significant downfall in the market, no matter what the news can be. and the news can be the worst you can think of, but market will just shrug it off. QE-infinity ftw. :rolleyes:

    it's pretty blatantly obvious that the markets are being propped up pre-election.

    i've honestly run out of things that can derail this thesis. seriously could have an asteroid hit earth and i feel like the market will rip a new a-hole on that news. just my worthless 2c.
     
    T0rm3nted, Steven_Burt and stock1234 like this.
  16. stock1234

    stock1234 2017 Stockaholics Contest Winner

    Joined:
    Apr 3, 2016
    Messages:
    5,412
    Likes Received:
    4,280
    Yeah pretty much :p I am long so I can’t say I am unhappy with the market going up, but the current valuations are hard to justified considering the fundamentals have worsened so much for the economy. Anyway, for now don’t fight the FED seems to continue to work :p
     
    bigbear0083 likes this.
  17. stock1234

    stock1234 2017 Stockaholics Contest Winner

    Joined:
    Apr 3, 2016
    Messages:
    5,412
    Likes Received:
    4,280
    NET surging today :eek: Got it at $28.79 last week when the market was down big for the day, now trading at $35.81 :D
     
  18. T0rm3nted

    T0rm3nted Moderator
    Staff Member

    Joined:
    Apr 2, 2016
    Messages:
    7,293
    Likes Received:
    2,268
    All I know is - come 11/2/2020, I'm fairly certain I will be out of the market leading into election day.
     
  19. stock1234

    stock1234 2017 Stockaholics Contest Winner

    Joined:
    Apr 3, 2016
    Messages:
    5,412
    Likes Received:
    4,280
    I doubt I will be all out but probably would reduce my exposure to equities :p
     
  20. bigbear0083

    bigbear0083 Content Manager
    Staff Member

    Joined:
    Mar 29, 2016
    Messages:
    22,799
    Likes Received:
    8,264

Share This Page