85 replies to this topic

[dTraderB]

As I concluded last week:

“There is only one thing I am sure of, a raging bull market in stocks can NOT co-exist with a depressionary economy for long. The stock market is NOT the economy. But the economy is a reflection of the very thing that supports higher asset prices – corporate profits.”

We don’t like the risk/reward of the market currently, and suspect we will have a better opportunity to increase equity risk later this summer.
https://realinvestme...rigger-05-16-20

But, if things change, we will also.

Edited by dTraderB, 16 May 2020 - 02:26 PM.

[dTraderB]

Fed Chairman Powell tells ‘60 Minutes’ a recovery ‘will take awhile,’ but don’t ‘bet against the American economy’

May. 17, 2020 at 12:44 p.m. ET by Greg Robb

[dTraderB]

Scott Wapner

@ScottWapnerCNBC

·

May 16

 

Worth noting that even though he has taken his long exposure down to 10-15%, Tepper also told me he wasn’t short the market in part because of the massive liquidity provided by the Fed. Tepper also can change his mind relatively quickly as things change.

Quote Tweet

 

 

 

CNBC

@CNBC

· May 16

"The market is by anybody’s standard pretty full." Earlier this week, David Tepper said this is the second-most overvalued stock market he's ever seen, behind only '99. https://cnb.cx/2WtgCEU

[dTraderB]

pajama traders again got the biggest chunk of this overnight rally, if you can't beat them then join them

 

4 NQ trades so far ... hope this rally persists for at least another 2 hours so I can  add SPY PUTS 

 

Flat Es

Flat Crude -- will SHORT later today

 

[dTraderB]

MODERNA up 30% 

[K Wave]

And here is the the BIG DADDY SPX...clearly the strongest of the bunch at this juncture (other than NDX)

 

Back above that 15 min 200, and bears will likely get their heads handed to them on platter....

 

In any event, next week should give some good clues as to whether or not there may be a retest of the lows.

 

 

And it looks very much like it will be out the top we go...barring an epic reversal after the open.

 

3K should be minimum target with thrusters re-engaged.

 

Above 3K it could get a lot worse for bears....but one step at a time....

Edited by K Wave, 18 May 2020 - 07:56 AM.

[dTraderB]

must  buy SPY puts -- at least 10 - if SPX is up by more than 3%

 

 

[dTraderB]

23 SPY PUTS

 

NQ 8-lot daytrading

 

CRUDE & ES flat

 

 

[K Wave]

As suggested this weekend, it now looks like 30 min starting to push upside as well.

 

Looks like a clean breakout  over the 30 min 900 thus far, with 200 already crossed above....

 

Be careful about spittin' into the wind, eh?

 

[dTraderB]

29 SPY PUTS

 

Great day in NQ, so far

 

Will we see SPX 2700 this week? or 2600? 

Maybe

 

We could also see SPX 3050 this week before 2700 or 2600....