The markets have had a massive rally from the 3/24 lows and now it is lolling people to sleep to think everything is back to normal and fine now.  That is not the case - early data recently published suggests the Banking and Finance sector may continue to get crushed under a massive weight of real losses and exposure to risk in the Derivatives Markets.  As with the 2008-09 Credit Crisis, Derivatives losses extended compound risk factors by 10x to 20x or more for in some instances.  There is a strong belief that the banking and finance sector may be setting up for a massive implosion if global derivatives implode as leveraged accounts collapse.

MY SPY Daily Count.  

Right before the crash the PE was at 25ish.  

Matt - Your analysis is spot on.  Most people get very emotional during inflection points.   I went short at today's open.  then cashed out midday.  Then I went short again during the next bounce but then got stopped out an hour before the close.  Then i saw the news hit about Trump and giving a news conference so I new to exit my short position.  I lost 2% of my gains but was up for the day.  Then I went long Weekly SPY call options that expire next week and going to cash out tomorrow.   I will look to go short again at the  gap into huge resistance around 290.  If I do not get any signals than I will just go to cash.   Emotion is the #1 killer of trades.  Anyone can make an argument why you should be bullish or bearish right now but price and time and TA is going to win over.  The market doesnt give a rats ass about what anyone thinks.  Its job is to fool you and take your money.  

INO - re-enter?

market should hit new highs now.  

Island top anyone?

AHPI.  Setting up.  

CODX.   Yesterday bought in at $9.70.  Said good low risk entry near the 50 day on the Daily.  I did get stopped out of LAKE this am for a small loss but making up lost ground with CODX.  

SPY.  IWM.  QQQ. DIA.   Interesting.  Price and time.  How much higher? Who blinks first?  We will soon find out by next week.  My Dog says around next Friday.   See how smart she is.

Watching UNG closely these days.  I got in last week, had a nice pop and then sold off and got stopped out.  If my Elliott Wave analysis is ok, i have final wave 5 down occurring right now.  To be cont....... 

Posted this Back on 3/16 with the chart.   That day it closed at $116.  I bought at $117 that day.  Today I closed out the trade at $170.  That's how we get it done!  

TDOC - I like the

Posted by ssafferon 16th of Mar 2020 at 06:25 pm

TDOC - I like the daily chart set up coming off of the highs.   Pulled back to the 61.8%.  

I have gold pulling back to the $1690 ish area for a Y (4) if you like Elliot waves.  Then we should push much higher.  Gold and Silver are  Bullish but will have some deep corrections along the way.  What I do.  Is have a core position in each (GLD and SLV) and when I see overbought conditions on the Daily, I buy put options atm a month to two months out and collect on the the pullbacks.  In addition to that - I have been accumulating  Jan 2022 $15 Call options on SLV for three months now.    

IWM has lagged for two years.  It is the sign of an overall unhealthy market.  This market is about buying what the fed buys and companies that have demand still.  

VXRT.

AOBC.  Sells Ammo.  Try finding ammo these days.   Ammo and Toilet paper.  

Although it seems the worse the #, the thinking is Wall street will get a bigger bail out, and so the markets go up.  Earnings will be the real nut kicker.  

Markets recover way before good news starts coming out.  Look at the 2008 recovery.  market bottomed 6 months before the good news starting flowing in.  Now I think people are getting a little giddy in that we have a "V" shaped recovery here, it is a possibility but the headwinds look a little too strong yet for me to think that a real bottom has been put in, I personally would like to see a retest or a little lower to feel more confident.  It is the markets job to try and fool everyone.  That is why I use trailing stops and money management is the key to surviving the draw downs. 

LAKE Daily chart.  

OBCI.