Huge bull run with crypto-currencies. Out of 5,000 cryptos, only 30 lost money the last 7 days.

[PatsFan1283]

Gold rise started when Powell reversed course in December '18 and ended QT/began cutting back to 0 bound after trying to normalize rates then the last 6 months we've had a more QE (debt monetization, whatever you wanna call it)

Once that happened, it was difficult for traders/investors to accept debt monetization as a financial crisis 1 off. It is the new norm.

This recent spike the last 3 days probably has more to do with Coronavirus though. Then when that ends, perhaps it'll catch a bid with the Sandersvirus.

 

[raiders72]

I think it has more to do with the natural bitcoin cycle. We took a big hit two days ago. We will get climbs followed by pull backs. As long as the peaks keep going higher and higher, we are in good shape.

 

[Ricboff]

I think it has more to do with the natural bitcoin cycle. We took a big hit two days ago. We will get climbs followed by pull backs. As long as the peaks keep going higher and higher, we are in good shape.

exactly. i posted its chart in case anyone is interested in pulling the trigger. The chart is CRYSTAL clear as to support area ($8, $6800 ish btc/usd)- a breach of this is NOT GOOD, If it were to re-test $8 AND present with a bullish candlestick on the daily chart (esp., a bullish hammer/pin bar....or for the more bold on the hourly / 4 hr chart) then its a BUY; at a support AND a bullish candlestck, confluence. Roll the dice, probability is on your side (stop loss in place below support)

the chart is no longer down trending . As far as i am concerend, in general for trading- DONT buy a stock/etf/ any fuckin asset class with a down trending chart!!! Zoom out and look at its monthly/weekly chart then into the daily. buy a uptrending or sideways chart. One would improve odds of success DRAMATICALLY!!!!!!



look at gold's (GLD's) chart for fucks sake, above. Once it broke $170 in early 2013? toast. People who held on have waited SEVEN years to break even, gold doesnt pay a dividend so they r sitting on bars buried in the their backyard. When did Gold's chart change? when the fucker FINALLY formed a higher low : Dec 2016 (see chart, a low that if tested would HAVE TO HOLD and it DID!). When did Au trigger major buys? when it broke its ceiling following a chanelling period , $130 (this $130 becomes a MASSIVE MUST hold level, new support)

 

[Ricboff]

Gold rise started when Powell reversed course in December '18 and ended QT/began cutting back to 0 bound after trying to normalize rates then the last 6 months we've had a more QE (debt monetization, whatever you wanna call it)

Once that happened, it was difficult for traders/investors to accept debt monetization as a financial crisis 1 off. It is the new norm.

This recent spike the last 3 days probably has more to do with Coronavirus though. Then when that ends, perhaps it'll catch a bid with the Sandersvirus.

haha. Trump is cocaine for the markets; increase spending , decrease corp taxes. The dude must think fiscal conservatives r mental patients . Sanders? LOL, he even smells victory , the markets/vix will be a something to behold. Sanders is the blue candidate? seriosuly? lol

 

[valetudo]

Cryptos go up because of coronavirus epidemy

 

[raiders72]

The bull run started before the coronavirus affected the market. It is now playing a role even though there has been a loss in the last week caused by long liquidations. Mining upgrades and deliveries are being haulted by quarantines. Mining pools are located in quarantined areas. None of this has affected the hash rate so far.

 

[Ricboff]

i think it safe to say that cryptos aint a flight to safety asset. Markets taken to the woodshed, investors jumping off cliffs , and btc drops

LARGE GAPS on the major indices...........finally some breath taking volatility,

Au- needs a breather as sharp vertical ascents are not stable, too stretched from its 8 ema and an ugly candle today ( au futures chart, inverted pin bar with a long tail) . It's uptreading, level posibly to retrace to in time is $1610. More virus bad news and she flies , why? Au is an anti-viral agent



SPY- it's VERY important it doesnt lose $3214. If it does, likely headed much lower and patience : $3160-$3180. LARGE gap from today's carnage. That gap gets filled. From the highs the pullback has been just under 5%.


VIX

3 mth daily

the VIX is inversely related to the SPY. The VIX fills its gaps.........ALWAYS. This is its highest level since the Dec 2018 BLOODBATH. Fear is abound....

 

[Ricboff]

10 yr Treasury yield just hit a record low, LOL

mrna-- stock popped today (have no position, just a heads up)

https://www.cp24.com/news/drugmaker...to-u-s-government-for-human-testing-1.4826473

[h=1]Drugmaker Moderna announces possible coronavirus vaccine to U.S. government for human testing[/h]

 

[Ricboff]

'SPY- it's VERY important it doesnt lose $3214.'

it did

very long red candle on the SPY, WITH RISING volume ,carved through 3160-3180 like a hot knife goign through butter. A lot of people, algos will have their eyes on the 200 SMA. Overnight action should be crazy. Markets not oversold , fuel to drop

OIL is right at critical support, if it loses this level, its Dec 2018 lows are in play

 

[PatsFan1283]

Addict needs his drugs and is gonna keep puking until FOMC supplies it.

 

[Ricboff]

Trump was likely bouncing off walls today , texted Powel just after the close. If no response in say 5 min, expecting Trump to tear him a new one on Twitter

 

[NorthernStar]

I think it could get ugly. The market has been on such a long bull run......something like this could result in a significant pull back. I liquidated a significant amount and wished I would have done more. Time will tell how big the pull back will be.

 

[NorthernStar]

I think it could get ugly. The market has been on such a long bull run......something like this could result in a significant pull back. I liquidated a significant amount and wished I would have done more. Time will tell how big the pull back will be.

 

[Ricboff]

fear is a very powerful emotion. Much more powerful than greed.

Danger of a virus that can spread quickly and bring shit to a halt. Not much policy can do , as its a health scare.

this came out today, this is a hell of a statement and if proves to be accurate , well...................BUT any good news and cuold have a rocket ship...... Let's see what tomorrow's candle prints, and the ES futures for that matter.


<cite class="el-editorial-source" style="box-sizing: border-box; font-family: CNN, "Helvetica Neue", Verdana, Geneva, sans-serif; font-style: normal; font-weight: 700;">(CNN)</cite>One of the top officials at the Centers for Disease Control and Prevention warned Americans on Tuesday that health experts foresee the novel coronavirus that has killed thousands spreading in the United States.

"We expect we will see community spread in this country," said Dr. Nancy Messonnier, director of the CDC's National Center for Immunization and Respiratory Diseases. "It's not so much a question of if this will happen anymore, but rather more a question of exactly when this will happen and how many people in this country will have severe illness."
The agency tweeted Tuesday evening that Americans should think about getting ready.
"Now is the time for US businesses, hospitals, and communities to begin preparing for the possible spread of #COVID19," it wrote, referring to the name the World Health Organization has given the novel coronavirus. "CDC continues to work with business, education & healthcare sectors, encouraging employers to be prepared."

 

[PatsFan1283]

Definitely wouldn’t try to time in a taxable account but we’re all gamblers I suppose

 

[Ricboff]

why? a loss can be used to offset capital gains.( its done regularly in Dec every yr; tax-loss harvesting by portfolio managers) . And if anyone is timing/trading for short term without stop loses they really need to reflect, define what they r doing -- cause it aint trading, that's for sure. And if they r buying on that candle at 3:50pm today, well, they r indeed gamblers

 

[PatsFan1283]

I don't think he sold at a loss considering market is only 9-10% off ATH. Probably had a nice profit, guess it depends what type of acct you sell it in and how strongly you feel about the virus causing a major calamity.

Agree on crypto "safe haven" tho, looking like a basic high beta bitch when real fear sets in.

 

[Ricboff]

okay the overnight ES candle is printing AND if it were to close ( we have the whole day still to go, lol) as is? (9:35 am) that is a pin par with a long tail- COMPLETELY different anatomy then the last two day prints (its bullish). I cant copy and paste the chart, any site has it, investiing.com. Again this is the futures NOT the SPY chart , that begins to form at 9:30 am and closes at 4pm.

the day is very young, that print on the ES is NOT completed, jsuyt saying

 

[PatsFan1283]

Ric forgetting the market for a second, aren't you a medical person?

What is your opinion of the virus?

The coronavirus, not the aforementioned Sandersvirus

 

[raiders72]

Buy now, it bottomed out.