Markets are barreling towards session lows after a sundry of rookie punk traders jumped in headlong into concrete pools of shit. Now they’re all selling and The Fly told them to avoid these pitfalls.
“Don’t buy on Fridays into cataclysm” is what I always tell my kids.
The fact that TLT has now outperformed the SPY on all time frames short of 5 years is something to behold.
So where do we go from here?
I sold out of the balance of my virus stocks today, for a net win — the latter sales being somewhat fucked. But I had to get out in order to wipe the slate clean.
IBIO +132%
OPGN +83%
VIVO +18%
(AEMD -15%)
(AIM -25%)
DYNT – wash
(LLIT -6.4%)
(MARK -16%)
(TEDU -19%)
Wrapping up my virus themed trades, here were the results.
NNVC +32% NNVC +319% CODX +28% CODX +61.4% VIR +25.9% INO +50% AHPI +48% NVAX +11% NVAX +28.9% APT +29.3% LAKE +17.5% LAKE +25.2% AEMD +14% LLIT +15.5% BIMI +33% DAO +14.3% NNVC +63% COCP +44% APT +48% APT +28% MRNA +14% AHPI +52% AHPI 28% CODX +37% CODX +30% LAKE +10% DAO +5.2% NVAX +15.6% NNVC +31% VXRT +95.7% TNXP +121%
Can’t complain — best trading spree of my life. Is it done? Never says never. One thing is for certain, we’re deeply oversold and the market is begging for a reason to rally. We probably get something on Sunday night from the Fed. Truth is, this is all unprecedented and I do not know what to expect next, other than to suggest you trade small.
95% cash now.
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Gold is getting demolished, down 4%: so much for that safe haven. JNUG -31% today.
Not sure what that is about. Where is that selling pressure from?
RUN FOR YOUR LIVES!!!!
Cryptos also crashing 5-10%
Cryptos are always crashing. Nothing new there.
as always, gold selling pressure from stock margin calls
BTC down -3.7% in 24 hrs
https://www.coingecko.com/en/coins/bitcoin
Yup, you nailed it.
https://www.bloomberg.com/news/articles/2020-02-28/gold-prices-plunge-by-the-most-intraday-since-june-2013
The margin calls hitting full force now explains why we crashed yestreday and today below key support levels. So today’s selling isn’t more panic: the people sellign are doing so because they have no choice in the matter.
Once overleveraged investors are shaken out, then big money will come in (to be honest, those same overleveraged investors are *presently* selling to big money as we speak: there are no trades without buyers).
Bonds aren’t confiriming the end of the crash yet.
S&P has been ping-ponging between sunshine above 2940 and certain death below 2880 since last night (https://ibankcoin.com/flyblog/2020/02/27/thats-call-capitulation/#comment-566500)
Look for a breakout (either direction) outside this range.by market close.
Check out the PUNISHER candle on ZM – this was also supposed to be “safe” because people would teleconference in with the flu.