hah yea that was me i can't remember seeing the /es futures chart flatline like this due the lock limit down since about 10pm eastern last night definitely does have that '08 feel to it
wow is right! i almost had to do a double take there seeing the 10 year yield and the /cl futures (crude oil) this morning
^^ this and i concur with @Three Eyes, it's super great seeing you pop in here Baggi! you're one of the old timers from HSM!
Insane moves.../ES halted...oil free fall ( time to hit the gas pumps ) Some are saying if the temp goes up, the virus will probably die off, so let's get this global warming started up!!
Speaking of crazy, Im in oil pretty heavy as of this morning. A few orders are still locked but most have filled. Back in 2009 we had A Real crisis on our hands with unknown implications. 11 years to the day if Im not mistaken "close anyway" , If you think the world will collapse sell everything for whatever you can get and run n hide in a corner. Personally, IMO its a bluff game that will soon be CALLed "cough cough" Pain will be felt short term. Research is your friend.
Remember that bear flag brewing I was talking about? That knife attack this morning seems to have confirmed the pattern.
Long overdue. Im not in the gloom doomers corner though, just a needed bump in the road. The herd is stampeding off the cliff, yawn yawn.
Keep an eye on that 200 MA on the 5-year weekly chart. If ever there's gonna be a BTD moment, that's it. The next best scenario is for the panic selling to hold up in the region of the 200 MA (currently 2640), for volatility to pull back, and await the next round of earnings reports that incorporate the CY20 1st Q. The worst case scenario? Well, food for thought: it usually takes a number of months (3 if we're lucky, 15 or more if not) for these things to unwind and find bottom, and we're only in week 3 of the current equities price collapse. GLTA.
just some half glass full stuff in here on this otherwise down day. no one knows when the correction will end, but looking at the previous 31 corrections since 1980, the spx has usually ended higher 12 months later about 90% of the time. (charts courtesy of lpl research) meanwhile, 5 of the past 6 bear markets that did not have a recession bottomed out at about -20% on the correction. here are some of the notable market shock events over the past century. the good news is that the equity market has always eventually come back from the drawdown. this is the second longest running bull ever, so needless to say this market was hugely overdue for some kind of meaningful pull.
Fawk lost 55% on one this am but was able to scalp GUSH for a 30% return. Still down about 25% on the portfolio today with other longs unfortunately. Even some of these biotechs are getting smashed today.
