I've noticed that most of my friends and neighbors are
optimistic about the economy coming back quickly and about the
market coming back. Perhaps some combination of a natural desire
for good outcomes and the life experience of the long bull market.
When I suggest that neither might be true, that this could be a
long and difficult and painful slog, they don't want to hear it. So
I've quit having that conversation. I think the idea that we might
not be roaring back is too painful for most people to hear.
FWIW
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.
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.
Thanks Puma, hear ya, and understand that perspective. It
is similar in my sphere. The polarization of the
conversations of today in general. Whether it climate or
energy. Apparently you're not supposed to challenge the
status quo. I remember something from a long time ago, when
everybody else is thinking the same thing, someone is not
thinking. Good luck and good energy with your trading, take
care, be safe.
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I've noticed that most of
SPX 30 Updated View
Posted by puma on 22nd of Apr 2020 at 06:03 pm
I've noticed that most of my friends and neighbors are optimistic about the economy coming back quickly and about the market coming back. Perhaps some combination of a natural desire for good outcomes and the life experience of the long bull market. When I suggest that neither might be true, that this could be a long and difficult and painful slog, they don't want to hear it. So I've quit having that conversation. I think the idea that we might not be roaring back is too painful for most people to hear. FWIW
People have been accustomed to
Posted by ssaffer on 22nd of Apr 2020 at 08:35 pm
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.
Interesting to hear Ssaffer. R
Posted by mundy on 22nd of Apr 2020 at 09:48 pm
Interesting to hear Ssaffer. R u a full time trader now?
No. That would be too
Posted by ssaffer on 22nd of Apr 2020 at 10:12 pm
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.
Thanks Puma, hear ya, and
Posted by tahoe on 22nd of Apr 2020 at 07:25 pm
Thanks Puma, hear ya, and understand that perspective. It is similar in my sphere. The polarization of the conversations of today in general. Whether it climate or energy. Apparently you're not supposed to challenge the status quo. I remember something from a long time ago, when everybody else is thinking the same thing, someone is not thinking. Good luck and good energy with your trading, take care, be safe.