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Stock Market Still In Uptrend, My Mood Isn't 4/23/20

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We already know that next Monday and Tuesday the Treasury is gong to pound the market and that the FED won't pump enough. So the market should go down. But even for that circumstance they gonna find a solution. Which one? Who knows.

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Pretty interesting situation. California insurance companies are waving COVID related treatment: https://www.blueshieldca.com/bsca/bsc/wcm/connect/sites/sites_content_en/coronavirus/your-c

Watch out for bad ticks - they can give you Lyme disease!

Donchya think the NY & NYC antibody test results are encouraging? Way more peoples + for this drech than presumed.

What if, “Sell in May & go away” has had it backwards all these years?

And in fact, the dynamic is, “Go away & sell in May.” 

If Wall Streeters are stuck sheltering in place, they can’t go away to their second homes and elsewhere. 

So, they don’t sell; they trade. 

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1 hour ago, fxfox said:

When was the last time market went down when jobless claims were actually worse than expected? Was crystal clear that we'd go up no matter how bad the number would be.

Now they are preparing the bomber squad for FULL ASSULT on bears once the new home sales figure comes out. They gonna kill the last bear today and hang him at the corner at Wall Street. It will be a scene like that one when they did hang Mussolini.

Colorful. I like it. 

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On the other hand, an hourly close above 2805, could trigger a move to 2825-35, where they’d start to run into resistance again.

...

If the market clears 2808, it would be a triangle breakout. These are typically explosive. 

https://wallstreetexaminer.com/2020/04/right-shoulder-right-shoulder-roll-over-roll-over/

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When they say "smart money goes out, idiots will hold the hot potatoe" than I ask: Where should "smart money" go these days?

Gold? Get's confiscated by the state at certain point, like in 1934. No option.

Foreign stocks? Idiotic.

Bonds? Are you kidding?

Real Estate? Malls will be dead in 10 years. Senseless.

So, where will smart money stay? Right. In stocks.

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29 minutes ago, fxfox said:

When they say "smart money goes out, idiots will hold the hot potatoe" than I ask: Where should "smart money" go these days?

Gold? Get's confiscated by the state at certain point, like in 1934. No option.

Foreign stocks? Idiotic.

Bonds? Are you kidding?

Real Estate? Malls will be dead in 10 years. Senseless.

So, where will smart money stay? Right. In stocks.

A lot of misinformation regarding the gold confiscation argument. We are not on a gold standard. It could easily happen in the ETF world since they can cash settle. But this is not confiscation. In fact, supposedly most gold is held this way and a cash settle would trigger a taxable event. Government gets the metal and the tax revenue. That is why I tell people to stay out of so called metal ETFs.

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