Rod's Account Talk

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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...
 
Thanks for sharing. I found the link before you posted and just finished watching. This guy articulates what I have been feeling much better than I ever could.
 
Beester15 said:
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...
Click to expand...

Confucius say: Man who chases FOMO will end up with FUBAR before to long...:rolleyes:

I couldn't help myself...blame it on being cooped up for to long.:nuts:
 
I think Mr. Market himself is in the Denial stage on the market roller coaster. One would think that no one would buy/hold into this long weekend. Then again, we've witnessed stranger things recently. I still believe the 23 Mar lows will be retested. Just don't know when. As of now, my gut tells me it will be later rather than sooner... although the sooner the better. Perhaps we need to wait for the economy to catch up with the virus' implications upon it. We shall see.
 
Rod said:
Mr. Market is having difficulty swallowing the truth because it is being spoon-fed by Mr. Fed.
Click to expand...

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...
 
Just a reminder of what I posted on 24 Mar... one day after the 23 Mar lows. I wonder what Tom Demark thinks now?

Rod said:
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.
Click to expand...
 
Reading the USBLS reports this morning, which only show Feb reports, unemployment numbers look hunky dory, actually Feb this 2020 had lower unemployment rates than 2019... I suspect we'll see another cliff then the March and April reports finally come out. Safe in G, hopefully with a high selling price for C by the COB.
 
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?
 
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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. :)
 
tsptalk said:
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. :)
Click to expand...

Yeah... I'm watching the S&P now. New daily low.
 
Rod said:
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?
Click to expand...

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.
 
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Looks like stocks were fading but some people came in and are buying. I guess they feel the Fed has their back so they are buying into the weekend.
 
That was actually what sparked the rally this morning before the bell, right after the jobless claims number. But yeah... typical close to a Friday on a positive day. I'm just surprised it didn't close at the highs.

https://www.thestreet.com/investing...pec-meeting?puc=yahoo&cm_ven=YAHOO&yptr=yahoo

15-minute S&P futures chart:

040920e.gif
 
Winner winner chicken dinner! :D


mdfiasco said:
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.
Click to expand...
 
There is no stock market action on Friday. Closed, for Good Friday.

mdfiasco said:
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.
Click to expand...
 
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