Nice day out there on the long side.
Hard at work making beautiful things.
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!"
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.
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.
Market doesn't seem to want to go down now...
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.
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.
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.