Anybody taking advantage of Coronavirus?

[bradgator2]

I forgot to mention... the other "odd" pick to me of hers that also done really, really well is CELH

CELH (+300%) and PLUG (+200%).... since when she bought

She's also happy PINS finally went on a nice run. Her only loser right now is KO.

 

[Detroitgator]

Sunday update...

• Dow Transports still rallying STRONGLY... back to mid-channel.
• R2000 also rallying strongly... also back to mid-channel. 1530 is support for bulls to remain in charge.
• SP500 February down gap at 3337 that I kept talking about was filled last week.
• SP500 still on track to run to 3400-3453. 3320 is support for continued run up.
• "Equal Weighted" SP500 (reduces "power" of big tech stocks) also showing big strength.
• Advance/Decline line indicates SP500 will make new all-time high. It has shown NO weakness since June high. This is a "healthy" sign for the MARKETS (remember, the MARKET is NOT the ECONOMY!). As a "rule," new high should be around August 27th... this is based on new high being reached 80 days after previous high (80 days is a MEDIAN number).
• Then I'll be in "shorting land." I see testing 3400, pulling back to averages, then one more push higher to 3453 area, maybe even 3500+ blow off top, then look out below!
• For the Dow, 27830 is the next Dow Theory target.
• Dollar still oversold on all levels of RSI, holding at 100 day average.
• Gold hit it's 3rd probable target of 2076 (Dow Theory, hit it exactly, and has fallen from there), we'll see if it pauses/tops, but I seriously doubt top. "Smart money" (commercial hedgers) continues to bet against gold, history shows be cautious at this level. This pairs with the dollar. Wouldn't be surprised by stronger dollar, pullback in gold to the 21 DMA. Watching for a drop below 2000 for that to happen.
• Silver hit (but did not close above) it's 2nd probably target at 29, next is 36 unless it drops below 26.90.

That's it for now... I gotta do some work.

 

[FireFoley]

Dash for trash today, seems to be the help of oil, and we will see how far it goes. Probably until someone sneezes. Good notes @Detroitgator and saw the same thing with the S&P 500 A/D line, but did take notice over the weekend that the Nasdaq A/D line looked like it was trying to roll over. So maybe this might be the start of something? We won't know of course until we know, but if the Kung Flu abates at all, they will rush into the those names that have been left for dead and those stocks that make no money and trade at 200+ P/E's will get trashed.

 

[BMF]

My precious metals mutual fund took a big dive yesterday (7%). I was up 60% overall in the fund. All I've seen is precious metals going through the roof, so I was planning to hold on...but losing 7% in one day was/is a kick in the nuts!

 

[FireFoley]

My precious metals mutual fund took a big dive yesterday (7%). I was up 60% overall in the fund. All I've seen is precious metals going through the roof, so I was planning to hold on...but losing 7% in one day was/is a kick in the nuts!

That is not unusual. They all head for the exits at the same time. Was probably a lot of "newbies" getting in late and chasing when gold held 2K an ounce. They buy on margin, whether it be futures or the ETF's and when the metal flushes they can't meet the margin call and get liquidated. If you like metals or believe in any of the flation(s), you should welcome pull backs. If not, then you should probably trim when you have those sharp moves up, and avoid the more painful kicks in the nut sack.

 

[bradgator2]

We have to be close to pulling the ripcord....

 

[Concrete Helmet]

My precious metals mutual fund took a big dive yesterday (7%). I was up 60% overall in the fund. All I've seen is precious metals going through the roof, so I was planning to hold on...but losing 7% in one day was/is a kick in the nuts!

Not funny but I had to laugh....I checked the market(stocks) yesterday at 1.30pm and it was over 28k, opened my account and threw a few thousand into a fund that I slept on over the last month or so and left the office to go work on one of my rentals....I came home around 6pm literally licking my chops to get my account open and see the gains I had made....what the fuuk happened yesterday afternoon!!

 

[BMF]

Not funny but I had to laugh....I checked the market(stocks) yesterday at 1.30pm and it was over 28k, opened my account and threw a few thousand into a fund that I slept on over the last month or so and left the office to go work on one of my rentals....I came home around 6pm literally licking my chops to get my account open and see the gains I had made....what the fuuk happened yesterday afternoon!!

I was up big most of the day....then around 3 it tanked. I didn't see what happened or why, I was at the gym. The only thing that really happened was demented Creepy Joe announced that Kamala "Headboard" Harris would be his VP pick.

 

[Detroitgator]

We have to be close to pulling the ripcord....

SP500 at 3365 as I type. I've said for months topside target is 3453 (with POTENTIAL for 3500+ blow off top). At the current pace, we could hit the 3453 by the end of the week. I've been saying "be careful here" for a couple of weeks now.

I'm really curious to see what happens with my prediction for this "top." I've been spot on so far, but I've underestimated the power of the Fed to keep pushing things higher before, and the 10 yr is having a "massive" (relatively speaking) rally this last week... that is bullish.

I think we definitely get between 3400-3500, but I'll definitely be reducing holdings by fully 50% when we crack 3400.

 

[bradgator2]

I'll definitely be reducing holdings by fully 50% when we crack 3400

Crazy... I just told my coworker (who I discuss all this with) that's my plan. 50% at 3400. If not by the end of today.

 

[Detroitgator]

Crazy... I just told my coworker (who I discuss all this with) that's my plan. 50% at 3400. If not by the end of today.

I'll probably reduce a bit each day between now and Friday... I hate weekend action going into Monday opens in times like these.

 

[BMF]

S&P at 3377...unbelievable!!

 

[FireFoley]

Who sneezed? Dash for trash yesterday. Saw the open this morning and banks were up etc. Just came home and banks are now down, cruise lines down, airlines down. Trash is back in the can today. Oh well it was fun for a half day, LOL

 

[BMF]

Crazy... I just told my coworker (who I discuss all this with) that's my plan. 50% at 3400. If not by the end of today.

I'm selling off some of my mutual funds, probably 60-75%. Gonna sit on it until after the election.

 

[Detroitgator]

I'm selling off some of my mutual funds, probably 60-75%. Gonna sit on it until after the election.

That's certainly the safest thing to do (and a LOT of people are recommending it). What I'm seeing is the run up to SP500 3400-3500, and then a deep, deep, correction, the the next run starts that will go higher than 34-3500, regardless of who wins the election. I see that correction, and the start of the next big leg up, both happening pre-election. I do plan on shorting on the down leg, albeit on a limited basis, likely just using ultra short ETFs.

 

[BMF]

That's certainly the safest thing to do (and a LOT of people are recommending it). What I'm seeing is the run up to SP500 3400-3500, and then a deep, deep, correction, the the next run starts that will go higher than 34-3500, regardless of who wins the election. I see that correction, and the start of the next big leg up, both happening pre-election. I do plan on shorting on the down leg, albeit on a limited basis, likely just using ultra short ETFs.

Which ETF's?

 

[bradgator2]

Done. 50% order is in. In all honestly... I dont know why I didnt do 100%.

 

[FireFoley]

Which ETF's?

SDS QID,TQQQ, etc. It is just a way of shorting certain indexes by going long and thus not having to look for a borrow. Just look up inverse ETF's or ultra short ETF's etc. or leveraged inverse ETF's and you will see a whole list.

 

[Detroitgator]

Which ETF's?

• SP500: SDS for 2X bear
• Nasdaq: QID for 2X bear
• R2000: TWM for 2X bear

I know all the arguments against ETFs in general, but for the kind of swing trading I do relative to my "updates" here, I just use Ultra ETFs (up or down) for the major Indexes, commodities, and sometimes sectors and emerging markets. Other than by exception, I do not have time to worry about picking individual "winners/losers" other than some core, lonnnnnnnnng term, holdings. With the ETFs, for swing trading, I don't have to worry about Fire Foley's concerns about "big tech" or "dash to trash," I just play the entire index that I think has "the Mo."

Here's a list of ones that have good volumes:

ProShares Geared ETFs

 

[Detroitgator]

SDS QID,TQQQ, etc. It is just a way of shorting certain indexes by going long and thus not having to look for a borrow. Just look up inverse ETF's or ultra short ETF's etc. or leveraged inverse ETF's and you will see a whole list.

Yeah, what he said! ;)