Anybody taking advantage of Coronavirus?

[Concrete Helmet]

And 99.5% of the time... it is 100% their fault, but will blame someone or something else for it.

Well it is a "right" to own the most expensive cell phone and have the most expensive internet and cable package for the 60" HD TV and kids game systems that they're making minimum monthly CC payments on and I'm sure none of them are the people standing in front of you in line at the local restaurant or in the fast food drive thru line in that pre owned Navigator or Benz that has a $700 a month payment....It couldn't be any of those people, right?

 

[Concrete Helmet]

So what happened today after 3.00pm?

 

[FireFoley]

So what happened today after 3.00pm?

The Fed minutes from the previous meeting were released but I don;t think they showed anything that was not expected. it basically said that the Kung Flu was having a material impact on the economy and would for quite some time. The Fed intimated that they will not use yield curve control as a tool for now, but in essence they are already using it.

My opinion is that the market is exhausted for the reasons I have been watching for months You have 5 stocks that make up 50% of the Nasdaq 100. You have one stock whose market cap is almost the market cap of the entire Russell 2000. Say what you want but there is not as much broadening as the talking heads make you think. They argue housing and housing related stocks can carry an economy. I disagree. I think that only employment can carry the economy. You have to listen to the calls and understand how the big box retailers were able to have such huge numbers and how those numbers have been eroding each week. It is why I say Money is on the way b/c the masses have run out. Oh and you had a reversal in the dollar this afternoon so some of the shorts got squeezed. In short earnings season is almost over, all the companies that had big numbers were expected to have big numbers and most of those big numbers have been pulled forward (in my opinion) from years in the future, thanks to everyone being at home and many collecting more money that they would of had they had a job.

 

[Detroitgator]

Quick update, I'm busy:

• Looks like we may get a pull back to 21 moving average on everything before push higher.
• Dollar bounced off it long term support going back 10 years and off its monthly 100 moving average.
• 10 yr flagging a bit, Dow Transports overbought and chopping sideways a bit (but still in upper half of its 2 SD channel.

I think we are just seeing a short pullback to averages before push higher and a small reversal on the dollar.

 

[Concrete Helmet]

Alright.....I'm officially nervous at this point and spending way too much time hitting the refresh button...I think I'm pulling 40% into a "safe space"....

 

[Concrete Helmet]

You have one stock whose market cap is almost the market cap of the entire Russell 2000. Say what you want but there is not as much broadening as the talking heads make you think. They argue housing and housing related stocks can carry an economy. I disagree. I think that only employment can carry the economy.

I'm starting to agree with this a little more. Some funds that I got into a couple of month's back(a little late) are really just spinning their wheels...a little bump up for 2 days then right back to where I bought them 2 days later...I think I'd rather stash that dough for a little while.

 

[bradgator2]

Alright.....I'm officially nervous at this point and spending way too much time hitting the refresh button...I think I'm pulling 40% into a "safe space"....

Come on in... the water is warm

 

[BMF]

The NASDAQ is out of control!

 

[bradgator2]

People are always looking for new companies.... check out this one going public:
Nanox Announces Pricing of Upsized Initial Public Offering
Nano-X Imaging IPO: Key Takeaways On X-Ray Startup For Investors

Nanox.vision
There is really neat, short video on their front website that is worth watching.

A typical new basic CT scanner is roughly $500,000 and cutting edge ones are $1,000,000 per unit. This company is talking about building them for less than $50,000.

edit: went live at 11am. I jumped on almost instantly with some fun money at $21.45. It'll probably be worthless soon.

 

[FireFoley]

The NASDAQ is out of control!

No doubt but I just picked up this fun fact while on the elliptical machine at the gym and watching the blowhards talking about the same 4 stocks everyday. The Nasdaq100 actually has 102 stocks in it, The top 6 stocks in combined market cap are equal to the other 96. If the "other" 96 go down in price each day by 1%, the top 6 would only have to go 1.1% each day for the index to be higher on the day. Not my research as I am just regurgitating what most of you all already knew.

 

[Detroitgator]

Update:

• This will be short as I was moving kids back to UF all last week and have to get caught up on work...
• Again, this is all SP500 related.
• Nothing has changed, bulls still in control... FOR NOW.
• 10 yr is weak and dollar gaining mo, both are "bearish" for the markets, which matches with nearing a top.
• Projected top of Wave 5 is now 3453-3500. That will complete that 5 wave move (and Wave 1 up of larger 5 wave cycle). I will get very
• We then get the Wave 2 drop, likely to the 2800-2970 level (could be lower, but in that box as of now for 38.2% retracement). But it may not go lower than 3000... can't time/predict the bottom, obviously. This is the "second bite at the apple" to get in long at low prices. You'll want cash at this bottom to buy in again.
• We then get Wave 3 up to 4000 range.
• This is the short to medium range outlook (like through the end of 2020).
• Long term, I think market will at least double from the Wave 2 low. Current Rule of 7 3rd Projection is 3612 (we hit 1st and 2nd Projections already), but this will likely come AFTER the Wave 2 down move, and as part of the Wave 3 up move (then Wave 4 is a pullback, final Wave 5 up move is the long, strong one that takes us wayyyyy higher than current all time highs).
• If you are looking for a historical example of what our current market looks like, look at the market in 1970-71. That said, I think there are two worlds, "before 2008" and "after 2008." The world has never seen markets where due to QE and everything else the Fed has done, there is only ONE place to put your money for a return, the markets.
• Now, here's my big caveat! Given the bullet above regarding 2008, we are in REALLY unpredictable times. So far, all my updates since the crash have been spot on, and I think they will continue to be so, however, this market could shoot WAY higher BEFORE we get the Wave 2 pullback. If that happens, Wave 2 pullback will be even stronger (i.e. lower).
• Be careful over then next weeks and few months.

 

[Concrete Helmet]

• Nothing has changed, bulls still in control... FOR NOW.

• 10 yr is weak and dollar gaining mo, both are "bearish" for the markets, which matches with nearing a top.

 

[Gator By Marriage]

Update:

• This will be short as I was moving kids back to UF all last week and have to get caught up on work...

Hope you had a good time with that. ;)

Update:

• Projected top of Wave 5 is now 3453-3500. That will complete that 5 wave move (and Wave 1 up of larger 5 wave cycle). I will get very

If today's trading mirrors the futures, we could hit 3453 by close of business today.

 

[Detroitgator]

Hope you had a good time with that. ;)

If today's trading mirrors the futures, we could hit 3453 by close of business today.

Yes, 3453 is a technical target, 3500 is a psychological level of resistance. I won't be surprised at all if we push to 3500+, the point is that we are in a very unpredictable area for what the top is and we'll likely get some small pullback before a push to the top. I'm going to try to post some info about this later today if I get a chance.

 

[Detroitgator]

Update : "Playing the top"...

Just some quick notes on likely scenario if we are indeed coming to a near term top on the SP500 (and thus, all stock markets) if you were thinking about dumping and shorting....

Aggressive shorting option:

• Using 3453 as the top, and as long as we remain above 3433, we will have selling pressure.
• If you want to short, establish SMALL short positions at 3453 and using "Average to Range" (ATR) which is 40 right now on the 21 setting, double that to 80, and you want to set your short stop loss at 3533 (this gives you a cushion for a higher top).
• Once the market rolls over, keep moving your stop loss on short position down to the previous recent high (currently the June high of 3232 would work)... rinse and repeat.
• Market could rally higher again to a new top above 3500 after hitting the 34 EMA (currently around 3330), that why you want small short positions.
• This is ALL current Wave 5 up move, pre-Wave 2 down move (so, to be clear, not the big move down).

Conservative shorting option:

• SP500 hits 3453 or higher.
• Wait for a drop below 3380-90.
• Wait for a pull higher.
• Then short and set your short stop loss above.

In either case, if either option DOES turn into the big Wave 2 down, you can add to your short positions.

Again, personally, for "shorting," I'll just use inverse ETFs for major indexes/sectors/commodities. I know that some here say ETFs are only for "day trading," but here are the returns on several since buying in on May 19th:

• 50.34% (QLD)
• 60.26% (UCO)
• 72.19% (two different Silver ETFs, but dumped out of both at that return, got back in on one of them which is the 14.55% bullet point at bottom).
• 33.32% (SSO)
• 14.55% (but this one purchased on July 29th)

By comparison, these positions were bought on May 15th:

• 31.12% (FB)
• 17.48% (GOOGL (class A))
• 35.38% (AMZN)
• 13.38% (NFLX)
• 15.71% (JPM)

To each his own... ;)

 

[Detroitgator]

Hope you had a good time with that. ;)

Wanna know the best part? I went to a bar and got some foolio to buy me a coupla beers! ... I shoulda ordered wings too! :(

 

[Gator By Marriage]

Wanna know the best part? I went to a bar and got some foolio to buy me a coupla beers! ... I shoulda ordered wings too! :(

That guy's a moron.

 

[Detroitgator]

That guy's a moron.

What a maroon!

 

[Gator By Marriage]

What a maroon!

At least you were a cheap date.

 

[Detroitgator]

At least you were a cheap date.

And found you a decent wing joint... it's what I do. ;)