Ponder this: When countries that don’t have reserve currencies desperately need reserve currencies to pay their debts that are denominated in reserve currencies and to buy things from sellers who want them to pay in reserve currencies, their inability to get enough reserve currencies to meet those needs can bankrupt them. That is where things now stand for a number of countries.   Is all this global risk priced into the markets already?  

smart money has been selling to retail investor last couple of days.  Musical chairs with toothpicks for sure.  

Steve - thanks for posting.  I was looking to get back in and forgot about it but now you reminded me.  

People getting sucked into the wave now.   Watch out for the undertow they used to say to me as a kid when at the Ocean beach.

not good.  Looks like vaccine and until then -wearing masks, washing hands and 6ft.

No.  That would be too dangerous.  I moved to the west coast some years ago and most of the time  I trade the first hour of the open before I start my work day.  I am in medical sales.   I love what I do and if I was just a full time trader i would be miserable.  

People have been accustomed to constant bail outs.  In the last two decades we have had constant bailouts, QE and the fed never more than now is no longer independent of itself.  20 plus years ago I had a great career with a great company working in NYC.  My largest account was a level one trauma catholic medical center in lower NYC.  They got into serious debt and as in the past they would be bailed out by the government, but not this time.  This time the bar bill was too high and they said no.  MD's and all medical staff believed they would be saved up until the 11th hour but no bailout.  The CEO's of the hospital had gutted the system and left it for dead.  No one was prosecuted as thousands lost their jobs and all the little coffee shops around it.  At the end of the day, no one cared.  I ended up losing my job because it was 80% of my revenue.  I thought I would be with that company for most of my career.  It took a couple years to recover, I burned through a lot of cash while i was trying to find the next step in my career.    It was a big wake up call and ever since I keep my eyes open.   

I think all is missing now is the handle (where price meets the line of your curve and then breaks up.  Thats where I want to buy. 

Welcome to the new world order:   https://www.zerohedge.com/technology/tech-companies-are-rushing-develop-ai-based-social-distancing-enforcement-tools

I hear from so many people (including my wife) "oh - once the economy starts back up we will have pent up demand and get back right up to new highs".  That might be true in a bubble but I do not think anyone can give an accurate forecast at this moment in time.  Not even the CDC can give us a best guess when Covid-19 will peak or re-surge.    How do we know that there isn't some major fall out from the oil futures contracts going negative the other day?  Hedge funds and banks that might have been long those May contracts?  We have oil tankers from Saudi Arabia with millions of gallons of oil on its way to deliver in US.  We are at 100% capacity for oil reserves, we have no room for it.   Not only is oil dirt cheap but there is no demand.  Middle eastern countries economies are going to tank as they need the price of oil to be around $30-40/barrel to keep their economies a float.  Middle eastern companies own a lot of shares in US companies.  If there economies start to tank (matter of time now) you will have contagion.   I do not think all the risk has been priced into the markets yet.  If I am wrong then I still have most of my cash to deploy into the market but I am not all in until I see new highs on the major indexes.  In the meantime I will just scalp, day and swing trade small positions (10% of my portfolio).   

Seems like starting a war maybe a good idea while we are all on lock down.  Maybe that is the next strategy on how to get this country out of a recession.  Def bring demand for oil back.  

Alot of these smaller companies are getting into hot water.  They are selling their tests without official FDA clearance and they need to be highly complex certified.   I live in this space.   A lot of bogus tests out there (not saying this company is) but FDA is really cracking down on the testing.  It is very important that the healthcare community gets tests that are accurate and proficient.  

Sorry.  The correct symbol is: CEMI.

CEMI.  A small cap that has FDA approval for Covid-19 testing.  Very overbought on the Daily.  Looking for it to pullback to enter. 

SPY Weekly 4/22 Call ATM.   Close out in the am.  

Could be some further weakness in Gold/Silver complex, depending on your time horizon.  

CEF - not over-leveraged.   

VSTO.  Another Ammo dist.  Looks like it may run.

I missed the buy point on SCO.    I had it down as $30 but I was fearful that the Fed would start buying up the oil ETF's.  My fears proved wrong.  Another lesson to ALWAYS listen to the charts.  

The ramifications from this has not been felt yet.  States like Texas will be crushed at the loss of jobs from small rigs.   I bought TNK on monday and sold at the gap up this am.  Good play brought up here by Matt.