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  1. #841
    Nice day out there on the long side.

  2. #842
    Join Date
    Oct 2007
    Location
    Cabbagetown, Atlanta, GA
    Quote Originally Posted by YmoBeThere View Post
    Nice day out there on the long side.
    For sure. Seems like this is the trend for Mondays and Tuesdays. I sold off a couple long positions, hoping to buy them back cheaper on the Wed/Thursday plunge.
    Hard at work making beautiful things.

  3. #843
    FWIW, I do like to mark to market on days like today. And then ignore what the market did. "Dang, I was up x.x% today. I'm a freakin' genius!"

  4. #844
    Quote Originally Posted by Edouble View Post
    For sure. Seems like this is the trend for Mondays and Tuesdays. I sold off a couple long positions, hoping to buy them back cheaper on the Wed/Thursday plunge.
    Fade the open?

  5. #845
    Join Date
    Oct 2007
    Location
    Cabbagetown, Atlanta, GA
    Quote Originally Posted by YmoBeThere View Post
    Fade the open?
    Yeah, that's smart. Yesterday, the longer you waited to sell, the more money you made though, so it's hard to know what call to make.

    I am astounded at this market rally. My newsfeed is 90% bad news, yet Six Flags and cruise ships are both up 30% over the last two days.

    Noone is getting on a roller coaster or a boat anytime soon.

    I guess I chalk it up to Jeffrey's machines.
    Hard at work making beautiful things.

  6. #846
    Quote Originally Posted by Edouble View Post
    Yeah, that's smart. Yesterday, the longer you waited to sell, the more money you made though, so it's hard to know what call to make.

    I am astounded at this market rally. My newsfeed is 90% bad news, yet Six Flags and cruise ships are both up 30% over the last two days.

    Noone is getting on a roller coaster or a boat anytime soon.

    I guess I chalk it up to Jeffrey's machines.
    Yea, the market action seems crazy to me, especially the big moves in the cruise ships and airlines...BUT investors are hopeful (and I hope they are right) that social distancing HAS BEEN working and the infection and death rates will level off and begin to go down, and then we can get back to some sort of normalcy in terms of economic activity. I think, at this time, this is a BIG leap of faith but they may be right. It could also be a classic "bear trap" and everybody jumping back in gets burned.

  7. #847
    Quote Originally Posted by YmoBeThere View Post
    Fade the open?
    The phrase here in Texas I think is all hat, no cattle. I should have done it, but didn't.

  8. #848
    Quote Originally Posted by YmoBeThere View Post
    The phrase here in Texas I think is all hat, no cattle. I should have done it, but didn't.
    I always heard as: Big hat, no cattle. All good either way.

  9. #849
    Quote Originally Posted by Indoor66 View Post
    I always heard as: Big hat, no cattle. All good either way.
    If you are a a Randy Newman fan, you end up with this:


  10. #850
    Quote Originally Posted by YmoBeThere View Post
    If you are a a Randy Newman fan, you end with this:
    And a Trace Adkins fan ends up here:


  11. #851
    Market doesn't seem to want to go down now...

  12. #852
    Quote Originally Posted by YmoBeThere View Post
    Market doesn't seem to want to go down now...
    Didn't it go down as recently as yesterday afternoon? IMO, it makes sense Mr. Market likes the absolute certainty of the final nail in Bernie's coffin. IMO, one of the few things currently making complete sense with Mr. Market's behavior.

  13. #853
    Quote Originally Posted by Jeffrey View Post
    Didn't it go down as recently as yesterday afternoon? IMO, it makes sense Mr. Market likes the absolute certainty of the final nail in Bernie's coffin. IMO, one of the few things currently making complete sense with Mr. Market's behavior.
    Yes, it went down yesterday but given the magnitude of the moves we've seen the last 6-7 weeks, it was pretty much a rounding error. One I actually welcome. I viewed the morning optimism to be a bit misplaced which is why I made my fade the open comment pre-market. There are still sectors that I view as interesting but not nearly as interesting as they were a couple weeks ago. There are a lot of things that I won't touch at all.

  14. #854
    Quote Originally Posted by YmoBeThere View Post
    Yes, it went down yesterday but given the magnitude of the moves we've seen the last 6-7 weeks, it was pretty much a rounding error. One I actually welcome. I viewed the morning optimism to be a bit misplaced which is why I made my fade the open comment pre-market. There are still sectors that I view as interesting but not nearly as interesting as they were a couple weeks ago. There are a lot of things that I won't touch at all.
    And I view today's afternoon meltup up to be a bit misplaced, but it does create opportunity.

  15. #855
    Quote Originally Posted by YmoBeThere View Post
    And I view today's afternoon meltup up to be a bit misplaced, but it does create opportunity.
    Maybe it is just a giant short squeeze???

  16. #856
    Join Date
    Nov 2007
    Location
    Vermont
    Quote Originally Posted by Jeffrey View Post
    Didn't it go down as recently as yesterday afternoon? IMO, it makes sense Mr. Market likes the absolute certainty of the final nail in Bernie's coffin. IMO, one of the few things currently making complete sense with Mr. Market's behavior.
    I bet you're right. Having said that, is there not a touch (or more) of irony that the market celebrates the downfall of the socialist as the government firehoses trillions of dollars all over the economy? As my beachfront pals told me in NC, socialism is nasty except when it benefits them via "beach nourishment," in which case it's not nearly as bad.

  17. #857
    Quote Originally Posted by budwom View Post
    I bet you're right. Having said that, is there not a touch (or more) of irony that the market celebrates the downfall of the socialist as the government firehoses trillions of dollars all over the economy? As my beachfront pals told me in NC, socialism is nasty except when it benefits them via "beach nourishment," in which case it's not nearly as bad.
    My guess is that yesterday’s action as more about what the Fed offered up this morning given the carry through we are seeing this morning.

  18. #858
    Quote Originally Posted by budwom View Post
    I bet you're right. Having said that, is there not a touch (or more) of irony that the market celebrates the downfall of the socialist as the government firehoses trillions of dollars all over the economy? As my beachfront pals told me in NC, socialism is nasty except when it benefits them via "beach nourishment," in which case it's not nearly as bad.
    I strongly agree. In the darkest hour, the most hypocrites are revealed.

    I think current events will hasten the arrival of U.S. socialism. I also believe U.S. investors, particularly under 50, need to make substantial changes in their personal investment plan due to current events.

  19. #859
    Quote Originally Posted by YmoBeThere View Post
    My guess is that yesterday’s action as more about what the Fed offered up this morning given the carry through we are seeing this morning.
    There might have been more Sanders concern than you realize. Mr. Sanders and Mr. Market would not have played nice together. I bought March insurance, in late ‘19, when Sanders appeared most probable. It ended up being Covid insurance.

  20. #860
    Join Date
    Oct 2007
    Location
    Cabbagetown, Atlanta, GA
    Quote Originally Posted by Jeffrey View Post
    There might have been more Sanders concern than you realize. Mr. Sanders and Mr. Market would not have played nice together. I bought March insurance, in late ‘19, when Sanders appeared most probable. It ended up being Covid insurance.
    If we can go into a three day weekend with the S&P above 2700, does that mean that the market bottomed out in March? A lot of the technicians have 2700+ as a key resistance point and I am not sure that fundamental evaluation is worth a darn anymore. All the stocks go up on these moves. I mean... stocks that I would think would be really hurting: Six Flags, Darden, Simon Property Group, etc.

    I will admit to not fully understanding how the Fed's announcement this morning will impact the economy/stock market.

    I have some stocks that I bought speculatively and want to sell because I don't even think they are close to the value that they are at now, for example AAL and APA. I am enjoying the ride for now, but I will be annoyed if they fall back below where I bought them. I did not anticipate they would jump up in value like this.

    Is this just all your machines again?
    Hard at work making beautiful things.

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