Comments on: Stock Index ETF & Futures Charts

By: czekboi

czekboi — Wed, 29 Apr 2020 19:30:24 +0000

In reply to gmatache. Okay. Are you talking to @rsotc only? Too bad we're ALL seeing it.

By: czekboi

czekboi — Wed, 29 Apr 2020 19:28:29 +0000

In reply to gmatache. I do understand you've been RIGHT & you've done WELL. It is anybody's place to state their opinion. Your evaluation has been RIGHT and hope to learn from it. Believe me I'm not happy in my current predicament shorting SPY for the past three weeks, BUT it was my choice at the end and I'm okay with it.

By: Imadaytr8r

Imadaytr8r — Wed, 29 Apr 2020 17:47:10 +0000

In reply to wilhud.

If this episode truly is defined as a “crash” like ‘29, ’87, ‘01, and ‘08 then it would be the first “crash” in History with a V shape recovery without a bear rally … with that said the dead cat does seem to be made of rubber … but with all the bears on this site near capitulation I would say the turn down must be upon us!

By: Action_Jackson

Action_Jackson — Wed, 29 Apr 2020 17:36:18 +0000

The GILD news is b.s for the markets. There was no control group so the data is questionable. Then if the data is correct it sounds like it helps maybe half the people at best. This would be great news as it would add some improvement but the death rate would still be high. From what I read about the virus is that is spreads and infects many organs before you even know you have it. So I don’t think the drug will be a game changer in social distancing and hence the economy. Markets don’t seem to care.

By: hotrodricky

hotrodricky — Wed, 29 Apr 2020 17:35:38 +0000

Conditions are wildly overbought. And sentiment, a contrary indicator, has turned overly bullish as well. Investors Intelligence just reported that 46.6% of those surveyed are now bullish on stocks. That’s the highest percentage of bulls since late February.

By: Action_Jackson

Action_Jackson — Wed, 29 Apr 2020 17:21:14 +0000

I just covers some of my shorts to start scaling out. You bears can thank me as this for sure means we are at the top. :(

By: gmatache

gmatache — Wed, 29 Apr 2020 17:16:49 +0000

In reply to hafstjl06. Dude, just get off my back. Just assume that my messages are not for you.

By: pmtob

pmtob — Wed, 29 Apr 2020 17:12:26 +0000

In reply to gmatache. Thanks for your input - its always good to have someone be the odd man out as a sanity check (like Israel in World War Z!). Unfortunately, my mind was made up that we were going to see more bearish action based on the fundamentals but it looks like I underestimated the power of the Fed. Hindsight is a MFer and I wish I got out at 272 support. On the bright side, I have a very solid software engineering job and can make it back in only a couple of weeks. The hard part is the mental game and being able to walk away from it (admitting I was wrong), as we've all clearly seen for the last few weeks!

By: Mukherjee

Mukherjee — Wed, 29 Apr 2020 17:10:53 +0000

Feel like it is the most inopportune time to close my shorts but this market doesn’t seem to stop before hitting 310. Booking my losses and licking my wounds.

By: hafstjl06

hafstjl06 — Wed, 29 Apr 2020 17:09:56 +0000

In reply to gmatache. Randy is free to have his own opinion. He's stated over and over that this isn't a "follow me" site. If you want the bearish technical argument, then his analysis is very useful. To actually follow him is up to every individual participant on this site, and any losses are their own.