Anybody taking advantage of Coronavirus?

Discussion in 'Business, Investing & Finance' started by ThreatMatrix, Feb 29, 2020.

  1. Concrete Helmet

    Concrete Helmet Hook, Line, and Sinker
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    Careful I went in long a while back and stayed even as it shriveled up...thank god it's getting long again.
     
  2. Concrete Helmet

    Concrete Helmet Hook, Line, and Sinker
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    Hmmmm....was this a typical late friday cash grab before close?
    Also these value funds that I peruse over lately are coming to life....is this a good 2 week grab until after the early november implosion/explosion happens?
     
  3. Detroitgator

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    Update (off the SP500 as usual):
    • Prior to Friday's market action, I was giving a higher probability to the "skinny/shallow" scenario where we had bottomed and were starting higher.
    • Given Friday's market action, I now think it's "50/50" on shallow vs moderate. I think this week will decide it for us.
    • If this week, the SP500 rallies and closes above 3515, we are likely going higher to as high as 3600+, then small pullback, then run to 3740.
    • If this week, the SP500 falls and closes below 3430 and the 21 daily moving average , especially if to 3400, we're going lower, possibly to 3050-3000.
    • Indicators are all mixed and could be used to argue either scenario.
    • I'd wait to see which way we break.
    • In full disclosure, the positions i have right now are "long," but i don't feel comfortable with them.
    • Remember, I use all this for short term, swing/momentum trading for income, NOT for retirement savings (but you can do this in a retirement account if you have control of the account). For a true retirement account, I'd still just be buying, holding, and adding to those positions.
     
    • FireFoley

      FireFoley Senior Member
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      So I see the market is indicated to open higher on more "Stimulate Me Money" talks. It has become so tiresome I can't even bring myself to short this move and wait for Turkey Neck to say he can't get it passed thru the Senate, and then watch the sell off. When that happens, I will do as @Detroitgator suggests and just add to those things on my list and reassess if Senile Sid wins and puts thru a 10 Trillion Dollar Stimulate Me "shovel ready" package.
       
      • bradgator2

        bradgator2 Rioting
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        well.... will be interesting to see how tomorrow goes
         
        • Detroitgator

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          Update:
          • Well, we closed below 3430.
          • Dow Transports started breaking down. 11498 is still its key support.
          • "Moderate" retracement to 3050-3000 is now more likely than the skinny/shallow one, especially if we remain below 3516.
          • In last update, I mentioned closing below 3430 AND the 21 EMA. The 21 EMA is right around 3414, so a close below that would really push is into the "Moderate" scenario.
          • So, we're waiting to see if we go above 3516, or below 3414... in the meantime, we're just wallowing around in sh!t! ;)
           
          • BNAG8R

            BNAG8R Pronouns: them, they, their
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            We blew through all-time highs yesterday, only to watch it wither away to a tiny loss. Up again this morning and I'm expecting we close at ATH today. I'm locked down until 23Nov so it's all academic at this point, but I'm considering moving some of my cash to long. The rest is for H&B.
             
            • Detroitgator

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              Also, I see this playing out over the rest of this week... I should've mentioned that regardless of which direction we go from here, a bounce today was expected.
               
            • FireFoley

              FireFoley Senior Member
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              Although I watch levels, I too have pulled to the side and just have my lists of equities that I would like to own if we have pullbacks, barring news on the individual equity itself. Bigger picture I want to see what happens after they pass some "Stimulate Me" bill whenever that is and how the market reacts, not initially, but over a decent amount of time. Watching the market rise when hag face sniffs Mnuchin's ass and vice versa has become laughable.
               
              #689 FireFoley, Oct 20, 2020
              Last edited: Oct 20, 2020
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              • Detroitgator

                Detroitgator Well-Known Member
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                Update:
                • OK, we've crushed through the 3414 (was 3410 yesterday) support level.
                • "Moderate" scenario is now highly likely.
                • Let's see if it closes below that 3410 level today and really remains below it this week.
                • We will likely see a bounce (even a big one) after today before it rolls over again.
                • If we stay under 3410, first target down is currently 3236, bottom is 3055-3000 level I've been talking about.
                 
                • FireFoley

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                  I am on the sideline except for specific stocks I would like to get if they fall to my prices. Other than those azzhats passing "Stimulate Me Money" prior to the election (ain't happening) I don;t think the market can get any legs, as that is what has been keeping it up until now. So I will wait until next week to begin to reassess, unless of course they want to drop another 10% or so down on me and then I will wade into the deep end.
                   
                • Detroitgator

                  Detroitgator Well-Known Member
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                  Update: well, yesterday's relatively "flat" (i.e. only slightly down) day mighta been the "bounce." I'm still just watching, if we do get a "bounce" rally up today or tomorrow, I'll probably go short. We've now solidly busted through both the 3414 level and the 21 moving average. 3236 is next big level of support on the down side.
                   
                • FireFoley

                  FireFoley Senior Member
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                  Does the Plunge Protection Team work this close to an election? LOL. In all seriousness, I saw no upward moves for weeks unless Hag Face and Mnuchin were talking.
                   
                • Detroitgator

                  Detroitgator Well-Known Member
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                  I honestly think Wall Street was pricing in a Biden win, and this is that evaporating. Regardless of who wins, the markets will keep going up, way up, as both will add tons of debt, Joe would just add a LOT more debt...
                   
                  • Detroitgator

                    Detroitgator Well-Known Member
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                    The other thing that is hitting the markets is that Europe is shutting DOWN again...
                     
                  • Concrete Helmet

                    Concrete Helmet Hook, Line, and Sinker
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                    Things won't change until Wednesday morning....if the election goes the wrong way the Dow plunges to 21-22 before weeks end and if it goes the right way it will go over 30 within days. Too much upside with a Trump win, more corporate tax cuts to fuel the big boys minus tech, remember the vaccine will be out next month too++++healthcare and there will be at least a skinny bailout.
                     
                  • Detroitgator

                    Detroitgator Well-Known Member
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                    You are again conflating the "market" with the "economy".... the "market" is fueled by DEBT. Under Biden, there will be more DEBT than the "more debt" under Trump. Either way, the "market" will go up, but more so under Biden than Trump because there will be a lot more debt... the "market" had NO problem skyrocketing under Obama debt, the "economy" struggled under Obama. Keep the two things separate, because they are.
                     
                    • Detroitgator

                      Detroitgator Well-Known Member
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                      PS Dow Transports officially crashed out of its channel Monday/Tuesday as well...
                       
                    • Concrete Helmet

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                      In a conventional way what you are saying is true, but I disagree somewhat due to the circumstances at hand....BO took 8 years to gain as much in the SM as Trump(think tax cuts 2017)did in 3 years. That's called ICZ or investor comfort zone....Humans by nature don't like change because it might mean some form of discomfort or uncertainty.....The press might say a Biden win would be better for the SM but to me what has happened this week(nearness to election/Polls showing Biden up big) is telling my gut otherwise.....Remember what happened to futures after 10pm on election night 2016?....Trump has changed the old rules.
                       
                    • FireFoley

                      FireFoley Senior Member
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                      BINGO. And I am sorry that is happening over there, but I actually got hit on 2 orders for my "high" dividend account. b/c of the mass selling.
                       

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