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I didn’t know what FOMO was till I started trading. I got a bad case of it now. But what I have a bigger concern with is another drastic pullback...
I didn’t know what FOMO was till I started trading. I got a bad case of it now. But what I have a bigger concern with is another drastic pullback...
SNAFU, Is unemployment real?
Mr. Market is having difficulty swallowing the truth because it is being spoon-fed by Mr. Fed.
Absolutely! I'm yanking my 25% out of C back into G today after making some nice gains on it. Sobering news could come over the weekend, I don't trust any of this...
Tonight, Cramer was talking about Tom DeMark. Allegedly, he has an impressive track record of calling tops and bottoms.
https://en.wikipedia.org/wiki/Thomas_DeMark
DeMark Analytics
https://symbolik.com/
Cramer said he got a call from DeMark on Monday saying, "They thought it was the bottom" (in video below) and that they expect a 10% - 15% temporary bounce from here. Of course, he got that bounce today. One day after making that call. Now, they are looking to retest Monday's lows.
Now, watch this video of Cramer talking about DeMark:
https://www.cnbc.com/video/2020/03/24/jim-cramer-charts-say-do-not-be-too-exuberant-on-tuesdays-bounce.html
The following are Demark's Absolute Retracement Projections:
S&P: 2,097 (It was 2,191.86 on Monday, 23 Mar)
Dow: 18,183 (It was 18,213.65 on Monday, 23 Mar)
I'll be keeping my eye out for these numbers.
It's fading fast right now, but the M.O. seems to be a fade just before a late rally back to the highs. Just to give the bears some hope, albeit temporary. I hope I'm wrong, however.![]()
Place your bets going in to the long weekend...
Today's closing bell will be:
1) Up (S&P by more than .25%)
2) Down (S&P by more than .25%)
3) Flat
_______________________________________________________________________________
With two hours of trading left, I'm going to say FLAT.
What say you?
I'm going to say up to 1%. We're going to creatively hold on to some of todays gains.
Tin foil hatting it: I predict good news will come between 1500-1530 in an attempt to rally the numbers for Fridays open. Who knows that what news will be: NY announces a flattening to the Covid curve, Biden picks a VP, Congress announces they're working all weekend on the aid package, etc...
Pre-Market trading caused today's spike a few minutes after the US announcement congress was working on another Coronavirus aid program at about 0745.
S&P was climbing steadily, plateaued like a high speed wobble, then started down when Congress (CSPAN) announced an impasse on the aid package and the plan will have to wait until next week.
Oil was rallying until 1230...30 mins later Russia and Saudi Arabia announced agreement to limit production and it's been dropping hard since.
Either way, I'm glad I jumped out today saving the gains I made. This weekend is going to suck, socially, for America and the world. Easter during quarantine is a morale killer. My guess is Monday opens lower but tomorrow will need to get pumped up, and whatever happens before the close will set the stage for tomorrow.
I'm going to say up to 1%. We're going to creatively hold on to some of todays gains.
Tin foil hatting it: I predict good news will come between 1500-1530 in an attempt to rally the numbers for Fridays open. Who knows that what news will be: NY announces a flattening to the Covid curve, Biden picks a VP, Congress announces they're working all weekend on the aid package, etc...
Pre-Market trading caused today's spike a few minutes after the US announcement congress was working on another Coronavirus aid program at about 0745.
S&P was climbing steadily, plateaued like a high speed wobble, then started down when Congress (CSPAN) announced an impasse on the aid package and the plan will have to wait until next week.
Oil was rallying until 1230...30 mins later Russia and Saudi Arabia announced agreement to limit production and it's been dropping hard since.
Either way, I'm glad I jumped out today saving the gains I made. This weekend is going to suck, socially, for America and the world. Easter during quarantine is a morale killer. My guess is Monday opens lower but tomorrow will need to get pumped up, and whatever happens before the close will set the stage for tomorrow.