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Stock Market Today: May 18th - 22nd, 2020

Discussion in 'Stock Market Today' started by bigbear0083, May 15, 2020.

  1. bigbear0083

    bigbear0083 Content Manager
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    [​IMG]
     
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  2. stock1234

    stock1234 2017 Stockaholics Contest Winner

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    Some selling into the close here :eek: The major indexes were up well over 3% yesterday so it is not surprising to see some profit taking :p
     
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  3. Vdubman

    Vdubman Active Member

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    silver $18.09 :)
     
  4. bigbear0083

    bigbear0083 Content Manager
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  5. bigbear0083

    bigbear0083 Content Manager
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    yep pretty much

    nazzy now within a percent or 2 of ATHs

    if you would have told me we'd be this close to news highs after 40 trading days from putting in the bear lows, i would have thought you had your head up your ass, but sure enough that's where we're at :p

    and yes, as you have alluded to since the beginning @stock1234 none of this would been possible w/o good 'ole fed intervention gotta luv it :p

    i just don't see how BTFD changes when QE-infinity exists.

    soon (at least in the case of the nazzy) it will be BTFATH time :D
     
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  6. Frankenstein

    Frankenstein Active Member

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    Crazy market. I didn't expect the Corona virus to create this type of chaos. I had averaged in at around 3,100 SPX but I went ahead and exited all positions at 2980 today. I didn't have money to take advantage of the deep collapses--for example, the collapse down to, I think, around 2200 or something, because I was stuck up there at around 3,100. But, with this rally, I decided to play it smarter. And in the future, I won't make stupid challenges to myself about "making more profits no matter what and I'll risk more" nonsense. Just play it as I've done. I exited fully at a level where I know I shall recover what I lost. But, have to play the game smarter.
     
  7. Frankenstein

    Frankenstein Active Member

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    My theory had said, I forget how long ago, that I should have exited at around 3100 [the time when Biden won the primaries in the South, I think] but I didn't adhere to my theory and exit at that point--for break even. So, my theory worked--but I didn't adhere to my trade management as I should have--and so, I I took a loss today, because of that. But, that's how the Corona cookie crumbles, I guess
     
  8. stock1234

    stock1234 2017 Stockaholics Contest Winner

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    Tensions with China seem to be going higher too, but this market doesn’t seem to care and continues to move upward :p
     
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  9. stock1234

    stock1234 2017 Stockaholics Contest Winner

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    I know lol, hard to believe the NASDAQ is up for the year when the economic outlook is actually much worse than it was last year
     
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  10. Vdubman

    Vdubman Active Member

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    What’s the most we could drop in a single day before the weekly breaker hits?
     
  11. Frankenstein

    Frankenstein Active Member

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    I'm going to go back in if the SPX drops to 2,800 or 2,700--not fully but moderately. The first goal is to recover what I lost--and then the second goal is to make a profit again!
     
  12. bigbear0083

    bigbear0083 Content Manager
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    weekly breaker? don't think i've ever heard of that one before lol.

    the single day breaker for the u.s. market is as followed:
    • -7% drop in the SPX = 15 minute market-wide trading halt (level 1 breaker)
    • -13% drop in the SPX = another 15 minute market-wide trading halt (level 2 breaker); however if the drop occurs after 3:25pm eastern time then then there is no breaker unless the SPX drops to -20% which then trading would halt for the remainder of the day.
    • -20% drop in the SPX = halt for remainder of the trading day. (level 3 breaker)
    these you probably already knew about i assume? but as far as i know, trading would still resume the next day even if the market was to halt on the max. drop of -20% in a day.

    someone correct me if i'm wrong here, but i don't believe there is a "weekly breaker" where trading would halt for the remainder of the week on the worst case scenario. in other words, if (just as an example sake here) there was a second -20% drop the following day, trading would still continue on the next day.

    i mean, we can almost guarantee we would never see anything like that (back-to-back -20% drops :p), but it's an interesting question of if there is actually a circuit breaker that would kick in if the weekly drop was just too much. like -40% in a week type of shit lol. again i could be wrong, but i don't think anything like that exists. but someone feel free to chime in here and correct me on that. i'm actually not 100% sure there.
     
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  13. Stoch

    Stoch Well-Known Member

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    Can one of you forex guys answer a question for me? Last night all of the major currencies were down at one point.

    If the index are a basket of other currencies, how can all the majors be down? It would seen that something has to be up since they are all compared to each other. I doubt that the minors like Brazil, Mexico. Thai and Norwegian currencies could be up enough and I'm not even sure that they are included in the calculations.

    [​IMG]
     
  14. bigbear0083

    bigbear0083 Content Manager
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    @Stoch - i'm hardly a forex guru here, so i'm probably not the right person to even answer your question.

    but i'll try my best...first, let me know if i'm understanding your question correctly here.

    are you asking why the USD is down when all of the majors against the dollar were down (should meant the u.s. dollar index been green then).

    i see you attached a snipped of a screenshot there from finviz's futures charts in your post there.

    if you look very carefully down at the very bottom of each chart there, it has the time in very small print.

    from what i can see in your screenshot there, i show 6PM on each of those futures charts there, except for CHF which i'm seeing 5PM.

    however, on the USD one it shows up to 4PM. so, my guess is that i guess it wasn't updated to 6PM like all the others, hence why it showed as down (which was from the prior session).

    so the USD (ticker: /DX) should have been green in that screenshot, but again since it wasn't updated to 6PM like all the others, hence it was still showing down from the prior session.

    not sure if that answers your question.
     
  15. stock1234

    stock1234 2017 Stockaholics Contest Winner

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    We are in a recession and the NASDAQ is not that far away from its ATH, amazing stuff here :p
     
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  16. Stoch

    Stoch Well-Known Member

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    OK, mabe the USD future was up enough to make all the other currency baskets lower and finviz hadn't updated the USD basket yet, that would explain it and the dollar did peak about 8PM yesterday, thanks
     
  17. bigbear0083

    bigbear0083 Content Manager
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    i really need to come up with another one of these, this one is getting old. sorry! :p

    [​IMG]
     
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  18. bigbear0083

    bigbear0083 Content Manager
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    just something i stumbled across in my afternoon reads here.

    so as i had mentioned yesterday, it's been 40 trading days since the SPX put in its bear lows. The SPX was up +30.6% in those 40 days, only was the 2009 bear 40 day % change actually a bit larger. the good news is that a year later after previous strong 40-day return is SPX is up a median return of +15.6% as illustrated in the below chart.

    [​IMG]
     
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  19. bigbear0083

    bigbear0083 Content Manager
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    oh this one was too.

    so at the dead lows during this bear market, the SPX was down more than -30% YTD. currently (as of today) it's only down about -8% YTD.

    there has actually never been a year where the SPX was down that much at any point YTD, and come all the way back positive. here are the previous largest reversals for the SPX in history.

    it might be a bit of a stretch, but can 2020 do it? with QE-infinity perhaps so :p

    [​IMG]
     
  20. Vdubman

    Vdubman Active Member

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    Keep the Quantafinitive easing going

    [​IMG]
     
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