after a bounce right where expected.
This is NOTHING like 2008, when SOX broke down well before the other indexes.
PermaBears....ignore that difference at your peril...
Edited by K Wave, 24 March 2020 - 10:20 AM.
Posted 24 March 2020 - 10:18 AM
after a bounce right where expected.
This is NOTHING like 2008, when SOX broke down well before the other indexes.
PermaBears....ignore that difference at your peril...
Edited by K Wave, 24 March 2020 - 10:20 AM.
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
Posted 24 March 2020 - 10:23 AM
Difference being that the lows are in for this bear since the SOX did not break down i advance?
Posted 24 March 2020 - 10:36 AM
Difference being that the lows are in for this bear since the SOX did not break down i advance?
Possibly....it depends on how things play out from here.
The panic on this down move was EPIC. Very likely a very significant bottom being put in.
I do not rule out a slightly lower low on SOX into early April after an anticipated "rescue package completed" final sell off.
But it is possible that that final selloff does not materialize.
With the weather warming up, and fed buying stocks, just don't see a big catalyst looking ahead for much more downside for now.
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
Posted 24 March 2020 - 10:48 AM
Just curious, were entire states shut down for ALL business for weeks in 2008? This will effect EVERY business in this country, just don't
know how you put a $$ or market number on that.
Posted 24 March 2020 - 11:04 AM
Just curious, were entire states shut down for ALL business for weeks in 2008? This will effect EVERY business in this country, just don't
know how you put a $$ or market number on that.
This is TEMPORARY.
I liken this more to say the Cuban Missile Crisis.
Go ahead and fight the Fed buying stocks, with their as Kashkari put it "Infinite Cash"
Let me know how it works out for you....
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
Posted 24 March 2020 - 11:27 AM
Huge move, but there still wave 3 of 5 down!
Posted 24 March 2020 - 03:06 PM
I have to wonder about this one - watching TECL on Yahoo around $107 and every few seconds $104.75 keeps flipping in - WTF? Then I notice the time on the quote says 3:53pm - its 3:59 though. A bug or what? A repaint of the screen would fix it and then it would update on its own back to $104.75.
BTW I liken this situation to crashing your plane on a glacier and having to resort to cannibalism. At first you are horrified at your situation and what you have to do, but humans adapt to any situation and then it becomes almost normal. Maybe at some point in you start to even have hopes it will end. But it becomes a new normal extreme though it is. If people can adapt to that they can get used to this and stop panicking.
Edited by gm_general, 24 March 2020 - 03:11 PM.
Posted 24 March 2020 - 05:07 PM
So is the bear over in the SOX?
Technically...up 20.8% from the low at the close today, after the 37.8% off the top bear market.
The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy
Posted 24 March 2020 - 05:20 PM
Just curious, were entire states shut down for ALL business for weeks in 2008? This will effect EVERY business in this country, just don't
know how you put a $$ or market number on that.
The markets looked ahead and priced that in.
All the bad news has been priced in.
Posted 24 March 2020 - 05:24 PM
Difference being that the lows are in for this bear since the SOX did not break down i advance?
Possibly....it depends on how things play out from here.
The panic on this down move was EPIC. Very likely a very significant bottom being put in.
I do not rule out a slightly lower low on SOX into early April after an anticipated "rescue package completed" final sell off.
But it is possible that that final selloff does not materialize.
With the weather warming up, and fed buying stocks, just don't see a big catalyst looking ahead for much more downside for now.
The bottom is in and a base being established.
Can it go lower? You have to ask what bad news will cause that.
Positive news is coming out of China and Italy will see a decline in death.
Edited by Dex, 24 March 2020 - 05:24 PM.