Traffic .....

Out here  in  southern California I am starting to see traffic jams again.

and this is the slow season between summer visitors and the holiday season.

even the small strip malls are starting to look packed 

Once we get the election / stimuli business out of the way I am thinking we get a pretty big rally going.

The holiday is a bit of an unknown .... maybe little travel but huge on line sales and gifts sent by Amazon

And then a post pandemic boom where everyone who is sick of 2020 treats themselves to a trip some where , gets married , goes back to college etc ....

Out here  in  southern California I am starting to see traffic jams again.

and this is the slow season between summer visitors and the holiday season.

 

even the small strip malls are starting to look packed 

 

Once we get the election / stimuli business out of the way I am thinking we get a pretty big rally going.

 

The holiday is a bit of an unknown .... maybe little travel but huge on line sales and gifts sent by Amazon

 

And then a post pandemic boom where everyone who is sick of 2020 treats themselves to a trip some where , gets married , goes back to college etc ....

>I am thinking we get a pretty big rally going.<   so what was the last 22000 pts up??   chopped liver???     :>)   if i wudda told you in 09 that the nasdaq would be screaming and with the broader measures of market activity be in uncharted territory  against the background of a world wide economic shut down   .......i would have been  called nutz......come to think about it      thats exactly what  happened    675 ONO

Edited by da_cheif, 22 October 2020 - 06:18 PM.

 

Out here  in  southern California I am starting to see traffic jams again.

and this is the slow season between summer visitors and the holiday season.

 

even the small strip malls are starting to look packed 

 

Once we get the election / stimuli business out of the way I am thinking we get a pretty big rally going.

 

The holiday is a bit of an unknown .... maybe little travel but huge on line sales and gifts sent by Amazon

 

And then a post pandemic boom where everyone who is sick of 2020 treats themselves to a trip some where , gets married , goes back to college etc ....

>I am thinking we get a pretty big rally going.<   so what was the last 22000 pts up??   chopped liver???     :>)   if i wudda told you in 09 that the nasdaq would be screaming and with the broader measures of market activity be in uncharted territory  against the background of a world wide economic shut down   .......i would have been  called nutz......come to think about it      thats exactly what  happened    675 ONO

 

what are you talking about Cheif  ?

you did tell me that and I bought 

It's called "traders talk" cheif.... lets not forget there have been lots of corrections along the way and one thing I know...... Yearly, monthly, daily, hourly, minutely,,,,, the market goes up.......and down..... thus the........"traders talk" website, thanks Mark! 

Btw I agree about a possible rally, but being October and an election coming up I've been hesitant to sell any put options as the market can fall out of bed for the only reason that its October sometimes but with the election coming that's the main reason, god forbid Biden would win, for some reason I dont think there would be a good reaction but thats just a feeling.  Nonetheless I'll be taking profits on sold November 3800 calls that are up just about $6.00 now day before or on election day.  Always nice to take a break anyhow and watch what may happen and get back in after.  The interesting thing is that I'm seeing out of the money put options being bought now just in case to so portfolio managers are likely getting nervous so that's a good sign for the upside I think! 

Looking at the charts there seems to be evidence with Rydex Ratio, Put/Call Ratio, Sentiment indicator of a pullback with decent certainty...   So there is also Fed Stimulus packages that has kept the market going with very strong housing and decent vehicle sales....     Looking at all the economic figures which continue to be positive in the US... It seems that Q420 is still a real unknown.

1) How much of the Q3 growth and purchasing was just catching up with Q2 lock down and not spending....

2) I purchase ETFs at bottom when they start to go up... I can't find any to buy at the moment to meet my criteria ( other than MJ ).

Now will the likely pullback turn into a bigger correction?   This is really unknown at this time...     We are seeing SOXX turn lower with respect to the SPY...   This is also pointing to weakness....

With all this said...  The momentum is still to the upside with dark clouds on the horizon....   At the moment the clouds scare me too much to jump in.

Barry

Looking at the charts there seems to be evidence with Rydex Ratio, Put/Call Ratio, Sentiment indicator of a pullback with decent certainty...   So there is also Fed Stimulus packages that has kept the market going with very strong housing and decent vehicle sales....     Looking at all the economic figures which continue to be positive in the US... It seems that Q420 is still a real unknown.
 
1) How much of the Q3 growth and purchasing was just catching up with Q2 lock down and not spending....
2) I purchase ETFs at bottom when they start to go up... I can't find any to buy at the moment to meet my criteria ( other than MJ ).
 
Now will the likely pullback turn into a bigger correction?   This is really unknown at this time...     We are seeing SOXX turn lower with respect to the SPY...   This is also pointing to weakness....
 
With all this said...  The momentum is still to the upside with dark clouds on the horizon....   At the moment the clouds scare me too much to jump in.
 
Barry

Edited by gismeu, 23 October 2020 - 03:50 PM.