That theory does have a merit. IIRC Dave Portnoy got into stocks because of that. Now that’s a singular case but I think there was stats somewhere showing the increased interest to stock market since the lockdowns started.

I can’t really tell if they are directly correlated beyond oil price

I just noticed the correlation myself (didn’t know Larry McMillan existed), so I built this one.
I wonder what [types] and [periods] you use for the two averages that allowed it to avoid a false alarm on Apr 1st through Apr 3rd. That was pretty neat –at least this time around…
Thanks

I guess it does. Crude down 8% in first two hours. /ES and /NQ gap down 1% and now are down 1.5%.

Seems Buffett was selling his stock to all the new retail traders. There is a growing theory that goes something like – with all of the casinos shut-down ($B’s of revenue), many gamblers were opening new trading accounts & throwing their money on the SPY, QQQ, etc. & airlines, hotels, car rental, etc. horses (basically, the companies that got hit the hardest during the drop).

All the best.

Cheers!

Could you give me the exact studies (or possibly thinkscript sources) you’re using in that TOS Chart so I can replicate it?
Thanks in advance

Buffy the Airline Slayer

Do the Saudi markets usually affect the US markets?

https://www.bloomberg.com/news/articles/2020-05-03/saudi-stocks-slump-as-minister-warns-of-painful-measures-ahead

maybe Elon was high when he said “Tesla stock price is too high imo”

He’s said similar things in the past.

“Be respectful to others” is really too much to ask these days.

He was likely hacked. He had a number of other tweets too.

This made me LOL…

Despite Bargains Galore, Warren Buffett Dumps Stocks, Grows Cash Pile (https://www.investors.com/news/warren-buffett-berkshire-hathaway-annual-meeting-2020/)

Berkshire Hathaway (BRKB) added further to its mountain of cash as CEO Warren Buffett sold off stock holdings and avoided bargain hunting in the aftermath of the coronavirus market crash.

By the end of Q1, Berkshire’s cash pile had swelled to a fresh record high of $137 billion from $128 billion at the end of Q4.

That cash hoard has grown even bigger since the end of the quarter. The conglomerate disclosed $6.1 billion of net equities sales in April alone, following $1.8 billion in net Q1 purchases.

Oh, and here’s what Elon Musk tweeted about his own company on Friday. “Tesla stock price is too high imo“

Here’s what Bezos said during the Conference Call in case you missed it, “ If you’re a shareowner in Amazon, you may want to take a seat, because we’re not thinking small. Under normal circumstances, in this coming Q2, we’d expect to make some $4 billion or more in operating profit. But these aren’t normal circumstances. Instead, we expect to spend the entirety of that $4 billion, and perhaps a bit more, on COVID-related expenses getting products to customers and keeping employees safe.”

I totally agree but the “market” supercharged by the algorithms and crack from the Fed puts it where it’s at soooooo if anyone could quantify those last two fundamentals into a formula then accepting such crazy values as tradable would make things easier.

/NQ way above 61.8 Fibonacci. It has been outsized. I want to know how Randy stayed so convinced, has he ever questioned his position. It is far from over and I am short with him.

I spent a lot of time analyzing and refining author Larry McMillan “Options as a Strategic Investment” $PCALL market signal. My refinement has shown itself to be a good go long/ go short signal. Today, it appears to be in confirmation with @rsotc on SPY and broad equity indexes. Good trading all.

05/01/2020 – 9:27 PM
https://www.barrons.com/articles/amazon-coms-valuation-deserves-a-haircut-says-one-analyst-51588381541

“I believe that AMZN, based on trailing 12-month earnings per share, doesn’t deserve to trade at more than 30 times earnings, so the shares could fall by 60% before it reaches fair value.” – Thomas H. Kee Jr.