Comments on: Charts I’m Watching Today 4-9-20

By: stockninja

stockninja — Thu, 09 Apr 2020 16:13:12 +0000

Feel like thats the last Golden Bazooka the Fed has in its arsenal. Millions of people out of jobs and stocks are at 2018 levels (when economy was booming) which fundamentally makes no sense at all. I dont see how companies can justify their price levels with earnings coming up. Companies like the one I work for already coming up with plans on which positions will not be re-hired unfortunately. Forget unemployment….how about down right job eliminations? Have half my account in cash and unfortunately waiting for the “system to break or get exposed”.

By: bransth

bransth — Thu, 09 Apr 2020 15:31:50 +0000

Looks like Randy doesn’t know what to say. He’s usually got updates out by this point.

By: Tstonger

Tstonger — Thu, 09 Apr 2020 15:26:07 +0000

In reply to Rick. farther than you think. higher than you think. longer than you think.

By: bransth

bransth — Thu, 09 Apr 2020 15:18:12 +0000

In reply to Imadaytr8r. What's a worldwide monetary reset look like?

By: Imadaytr8r

Imadaytr8r — Thu, 09 Apr 2020 15:11:12 +0000

In reply to avka81. Agreed. Everything is contrarian right now. Steep cuts in oil production was just announced and the market didn’t really care. 96% drop in airport traffic since a year ago! 96%!!! Wish I had to fly somewhere! I agree with Randy there isn’t enough money in God’s creation to stop the second leg down after this bear rally is done. We’re headed for a Worldwide monetary reset someday but not until after this next off the charts decline. I just went from neutral to total shorts. This little bull bubble is about to burst!

By: Action_Jackson

Action_Jackson — Thu, 09 Apr 2020 15:04:53 +0000

In reply to gthompson333. I think this is what fueled the explosive bull market, Big Cheeto pumping it. This bear market rally is being propped up. The technicals are only getting more bearish. The long term fundamentals are really bad. The higher this gets artificially propped up the harder its going to fall. This doesn't help the squeeze I'm feeling.

By: Grinch747

Grinch747 — Thu, 09 Apr 2020 15:02:29 +0000

In reply to gthompson333.

Closed SPXS on stop.
Closed out that SGG initially looked hopeful as INTC, and the like were dropping but then the U-turn. Oil MBS and Putin kiss and make up, but storage will be full by the end of May unless US Shale shuts in production. Fed buying JNK now big pop. I agree it doesn’t seem like you can bet against Trump. He will spend his way out of this debacle and ultimately get reelected with the taxpayers’ money or War Bond money as Kudlow is now talking about. Other peoples money just a real-estate developer at heart. Fed Chairman talking down inflation as in 2008 everyone worried about it and didn’t happen ( functional China supply chain back then). Waiting for the pull. back to go long.

Grinch in Hong Kong. I need some sleep.

By: becky

becky — Thu, 09 Apr 2020 14:40:02 +0000

In reply to Action_Jackson. I must have missed that. I still have a chance to jump back in if I see the charts showing some cracks, SPY is still pressing towards ~280 level.

By: gmatache

gmatache — Thu, 09 Apr 2020 14:39:23 +0000

In reply to gthompson333. My point exactly! And no, I'm not trying to be a Debbie Downer. I realize that I could be terribly wrong, even though all the facts seem to prove my point, which is why I was hoping that Randy could talk about this.

By: czekboi

czekboi — Thu, 09 Apr 2020 14:24:26 +0000

In reply to avka81. SOXS gave me 7% already