Coronavirus Stock Market buy off.

[Ricboff]

tested a second time and held (happens to be the 50 sma on the spy)... two tests now. Its filled a gap and bounced off the 50 sma for the spy -- the 50 sma is clrearly a support intrday , a loss and its a short intra-day for sure

battle going on!!!!!!!...keep tanking gld , please ...@)

NO, the qqq not the spy bounced off its 50 sma twice intra-day, looking at too many charts, losing my fickin' marbles ......... netflex reports after the close.


energy stocks doing quite well given the market carnage and OIL. They are NOT forming lower lows..

 

[Ricboff]

energy
XLE

6 mth daily

8 ema

again holding up really well. range bound for now. $36-#31.50ish. Monday/tuesday both inside candles...shes going to break

 

[Ricboff]

USO

6 mth daily

https://asiatimes.com/2020/04/china-goes-on-a-discount-oil-buying-binge/

China the only buyer?

 

[Ricboff]

lol

here's USO (above is obviously XLE)....

6mth daily

 

[snoop]

Bear is back, people will find all kinds of reasons why

But it probably is just because the fed has tapered down to 100b a week, which is still a ton but gonna take a lot to prop this sick puppy up.

So true, even weekly bailout deal can't stop the bleeding anymore.

$5T can only buy you 5000 pts off low for the DOW.

We need more, a lot more.

 

[PatsFan1283]

So true, even weekly bailout deal can't stop the bleeding anymore.

$5T can only buy you 5000 pts off low for the DOW.

We need more, a lot more.

I dunno if this will happen but at some point they're gonna have to discuss pulling the plug on the PPP stuff. Spending trillions to prop up small businesses that are going to fail regardless.

I think that is 1 of the big reasons they want to push "reopening" because then when these businesses fail, atleast the gov't can say it isn't because they shut them down.

 

[Meano]

I dunno if this will happen but at some point they're gonna have to discuss pulling the plug on the PPP stuff. Spending trillions to prop up small businesses that are going to fail regardless.

I think that is 1 of the big reasons they want to push "reopening" because then when these businesses fail, atleast the gov't can say it isn't because they shut them down.

I agree. Threw some towards small businesses but any extended shut down looks like your throwing a dart at an elephant because keeping them open is one thing. The other is how they stay open afterwards when theyre " on their own" and the influx thats needed isnt there because EU rates will still exist and maintain continue. Then the chicken or the egg theory will be debated

 

[Ricboff]

for folks looking for intra-day fun;

2785ish is an important number on the ES. An intra-day break above it,( a re-test and HOLD) is bullish. Again, believe it or not, there is fuel to continue this run, technically

if this was to unravel ? short a few pennies below yesterday's low (2714). 2714ish held TWICE yesterday AND during the overnight futures action

enjoy the day

 

[NorthernStar]

for folks looking for intra-day fun;

2785ish is an important number on the ES. An intra-day break above it,( a re-test and HOLD) is bullish. Again, believe it or not, there is fuel to continue this run, technically

if this was to unravel ? short a few pennies below yesterday's low (2714). 2714ish held TWICE yesterday AND during the overnight futures action

enjoy the day

Did you join me on gold?

 

[snoop]

Oil just on vacation.
I promise you the days of $100 oil are not over .

I think oil will trade @$45 - $50 a barrel by this time next year.

I'm adding a little more of HAL/SLB/DVN/PXD.

 

[PatsFan1283]

Gold and miners all up nicely today....BTG up to $5, owned that thing forever, nice to see

 

[Ricboff]

for folks looking for intra-day fun;

2785ish is an important number on the ES. An intra-day break above it,( a re-test and HOLD) is bullish. Again, believe it or not, there is fuel to continue this run, technically

if this was to unravel ? short a few pennies below yesterday's low (2714). 2714ish held TWICE yesterday AND during the overnight futures action

enjoy the day

what a fuckin' day. Said awhile back, with the VIX at these levels it allows for INSANE movements making holding trading positions overnight for the brave at heart. We saw that yet again. The SPY, QQQ BOTH formed very bearish candlestick presentations at yesterday's close: a few indecision candles then gap down yesterday and straight selling , long red candle , close below the 8 ema. High probability for continuation. My plan was : wanted a small/medium green start to the day then selling to occur and go short just below yesterday's close (2714). Waht does the market do? anyone holdong short overnight were deer in the headlights. A fuckin gap up above yesterday's candle !!! Needless to say, had to put on the bull sunglasses on ....for tomorow what MAY occur. A POSITIVE opening on the SPY would mean a bullish flutter kicker is likely to form ,-- going to be a battle as the 50 sma would need to be blasted through. Again, has to open positve .

anyway, energy stocks!!!!!! #802 , maybe formng a J-hook pattern. LOTS of room to run if she can take out $36. Individual stocks will present better opportinuty with greater risk


NS- haha!! no man, i posted my thoughts a few pages back on its chart , My plan was for entry on a swing low , buy on a bullish cnadle AND reclaiming her 8 ema. No benign swing low tho, rather.. VIOLENT gap up...buyers from everywhere, grandmothers were buying!!!!! You know what they say about the best laid plans of mice and men... Happy for ya!!


NS, one of THE greatest swings in history...alongside a disciple

 

[Ricboff]

Gold and miners all up nicely today....BTG up to $5, owned that thing forever, nice to see

the miners r looking super sweet , congrats


GDX

1 decade monthly

 

[PatsFan1283]

GDXJ up nicely as well, 7.5%

Barely off all time highs despite market being down around 20%

Obviously if we get another March then that stuff is getting sucked down with everything else, but it is going down less on the downswings and going up more on the upswings.

BofA calling for gold 3k

https://www.bloomberg.com/news/arti...-gold-target-to-3-000-as-fed-can-t-print-gold

Bloomberg is paywalled so if you can't read that, just google Bank of America gold 3k and you will find something you can read

 

[CHOPTALK]

I think oil will trade @$45 - $50 a barrel by this time next year.

I'm adding a little more of HAL/SLB/DVN/PXD.

I also like Schlumberger.
Not sure sure about Devon .
You got any insight on them ?

 

[CHOPTALK]

And I like natural gas a lot .

This is a great entry for natural gas right now

 

[Ricboff]

there's a portfolio manager at BMO that is practically a perma bear. Fuckin' guy never has anything good to say, have no idea how he even gets up in the morning. It's a tactical fund.

His 5 yr track record is trailing the respective index by a whopping 4%! YTD trailing his peers by 3.5%!! Again ,he's MANAGING other people's money.

his portfolio as of Mar 31 has:

19% USD
13% gdx
11% gold
15% energy
some covercall etfs and fixed income

..maybe his time has arrived?



lol

 

[TheFalls]

there's a portfolio manager at BMO that is practically a perma bear. Fuckin' guy never has anything good to say, have no idea how he even gets up in the morning. It's a tactical fund.

His 5 yr track record is trailing the respective index by a whopping 4%! YTD trailing his peers by 3.5%!! Again ,he's MANAGING other people's money.

his portfolio as of Mar 31 has:

19% USD
13% gdx
11% gold
15% energy
some covercall etfs and fixed income

..maybe his time has arrived?



lol

what fund is it? if he's not up significantly ytd, they should liquidate.

 

[Ricboff]

Lmfao

 

[Ricboff]

GDXJ up nicely as well, 7.5%

Barely off all time highs despite market being down around 20%

Obviously if we get another March then that stuff is getting sucked down with everything else, but it is going down less on the downswings and going up more on the upswings.

BofA calling for gold 3k

https://www.bloomberg.com/news/arti...-gold-target-to-3-000-as-fed-can-t-print-gold

Bloomberg is paywalled so if you can't read that, just google Bank of America gold 3k and you will find something you can read

thks. Gold has always been a trading vehicle for me, to each his own