The market needs to hold these gains, else margin calls will crush any hope by the end of day. The rally in crude, albeit tepid, is encouraging. However, I wouldn’t be surprised to see oil lower and stocks higher, decoupling from the commodity.
Bearishness is at record highs and we all have reasons to sell our stocks. For the year, I am down about 5%, fully invested in SPY and TLT. I did sell 1/6th of my SPY position this morning and I detailed my plans inside Exodus for members to take in.
News is meaningless right now. All the matters are animal spirits. Do investors want it or will they cower into the afternoon trading hours again?
Breadth is only at 73%, so that’s not encouraging. But we are so oversold, people are so desperate for a rally, I’d be surprised if the muppet masters didn’t throw everything but the kitchen sink at this market–trying to light a fire under this market.
Longer term, banks, tech and energy are impaired, all for different reasons. Take the rally and use it to reduce your exposure.
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Just about everyone is stressed out by this market. Need a stress release? Try this active meditation where you move around and exercise to release tension. I do this. It’s great. Far better to release stress than hold it inside of you and let it eat away at you.
https://www.youtube.com/watch?v=bRXcbXnLwvM
I prefer the sound of crushed English skulls, followed by a haggis-filled orgy.
LOL, each to their own. I have read that animal organs are supposed to be very nutritious and that people ought to consume more of them. Didn’t know what haggis was, so I had to look it up.
Back to my dynamic meditation.
Helps that the big bank CEOs are saying that the economy is still on solid footing. My natty gas position made a big U-turn about 30 mins ago. Trading is sometimes luck, and I’ll take it!
Congrats on your natty gas win, hftongue.
Thanks frog.
Dead cat bounce.
i like shorts that never cover and give back all their gains
I’ll say it right here right now
This is it. The shanghai 7% double drops which yes were a trigger. And were not by accident. I described the Shanghai as a bow and arrow during the bubble formation into 15 when it was up 150% in months and felt it could be used like (yes) a bow and arrow aimed at other markets. I believe that wasn’t an accident I believe it was desired to start this thing along with etc etc oil etc. And that’s that you heard it today. Where? Here
That last etc should be an ahem
Actually, the whole thing in unintelligible. Try again.
Go write a shitty poem
Three Stooges had 3. I just see 2
There are 3:
1. It is showtime
2. Tradingnymph
3. Bluestar