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DrStool

BOINGGGGGGG!!! 3/20/20

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7 minutes ago, DrStool said:

Well, we broke it. 

Is it any surprise?

After all, a wise man once observed, "Selling can dry up at support, but pick up rapidly if its broken"....

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36 minutes ago, sandy beach said:

It looks to me like they can't keep this thing up. I'm wondering if we have another dump Monday morning. 

 

Why wait 'til Monday? 

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7 minutes ago, DrStool said:

OK Gilda. 

image.jpeg.dc560759c3510448404c33153d9b180b.jpeg

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If they make the mistake today and pump it up monster style during the hour of power, we gonna get the biggest downside gap on sunday night in recorded history.

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16 minutes ago, fxfox said:

If they make the mistake today and pump it up monster style during the hour of power, we gonna get the biggest downside gap on sunday night in recorded history.

Everywhere I look the talking heads say they have covered their shorts and are out into cash or gold now. Seems to be the meme in vogue is the risk/reward of shorting isn't there anymore. 

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4 minutes ago, sandy beach said:

Everywhere I look the talking heads say they have covered their shorts and are out into cash or gold now. Seems to be the meme in vogue is the risk/reward of shorting isn't there anymore. 

Isn't that the perfect setup for an horror sell off? 

Risk/reward is such a thing... Once we are at 1500, going short at 2500 would have been a great idea. I always did find the r/r concept in trading at least "doubtable". For example, if a stock like Tesla goes from 200 to 900 within a few weeks, it could have gone to 1500 too, or 3800 or even 5000. Even at 400 it was far away from any serious valuation, it was just guess work where the high would be. That means that also the level were you go short  - and where your short doesn't get stopped out! - is nothing else but guess work.

I know that stuff from trading fx intraday for years. It is most of the time made up stuff from bla bla guys. They tell you "good opportunity, 4:1 r/r", most of the time they got stopped out, but of course didn't talk about that in the sftermath.   

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Quote

You ain't seen nothin' yet B-B-B-Baby you just ain't seen nothin' yet Here's something that you never gonna forget

 

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55 minutes ago, sandy beach said:

Everywhere I look the talking heads say they have covered their shorts and are out into cash or gold now. Seems to be the meme in vogue is the risk/reward of shorting isn't there anymore. 

This is why the risk of an accelerated collapse is growing. The shorts are the only source of even temporary buying. If the short interest has fallen through the floor, prices could drop 90% from here. Remember the 1929-33 bear market sheared away 90% of the market's value at the high.  They had 90% margin then, and today's big players also have used that kind of margin. 

So I think that we could have a 1929 situation here. Maybe even worse. 

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LEE'S FREE THINKING Pre Market

The BOINGGGG That Fizzled (Again)

by Lee Adler •  • 0 Comments

S&P ES Futures Chart

Now that the US Government has delayed Tax Day for 3 months, the April tax windfall won’t happen. That cash fuels temporary Treasury debt paydowns which in turn fuel seasonal financial market rallies. Not this year.

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The SPX futures are down a 124 from the overnight high and it feels like a calm, low volatility day. 

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THis is going to be catastrophic. Not just in the short run. It will change our way of life forever. 

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Which is only until next week, what with those assteroids headed toward us. 

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