These periods, neither technical nor fundamentals work as we do not know complete impact. The unemployment is too high for any standards, and unexpected turn to economy. It will create lot of suffering to everyone.
I just co-related 2008 downturn steps with 2020 downturn, guessed today it will be peak and what we see today peak is the last lap which we will not see for next 6 months.
Most likely, VIX spike today at last 5 minutes and from tomorrow we may see slide in market for longer duration until peak unemployment reaches.
If I co-related 2008, next 3 days are down days, and VIX peaks on Apr 10th above 85+ range again.
Cash is the king, also we need to have life against Coronaā¦
As usual, this is not an invitation to buy/sell directly or indirectly, but sharing my thought process/guessing/inference which may go wrong 100%! Do not take any steps/actions based on these comments.
I just donāt know, even opening up putting back ppl to work will recover, while the whole world is shutting down. and the shit ass stimulus plan is so ridiculous the most affected places does not benefit from it(bay area, ny, seattle), these are the one really locking down, meanwhile many states/cities did not get lock down , they get the benefit
Do Bay Area need bail out? Mostly millionaires. Who here need financial help? @Jil need financial help? He is making $$$ @wuqijun making $$$ @manch making $$$ @boolean making $$$ @harriet making $$$ @dioworld making $$$
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I thought the stimulus plan was too generous. You can literally not have to work and get $1,000/week from unemployment and still earn more than an average grocery store worker. This plan only screws those blue collars who are working.
I donāt think so. Plenty of people earn less than these amounts and get subsidized by the landlords via rent-controlled apartments. The stimulus plan also entices companies to keep employees on payroll to get forgivable loans/tax credits. Pretty sweet deal if you ask me.
Can help those who rent. Shouldnāt help those who own since they are living beyond their means, they should buy a house that one salary can support or just rent. I am not being cruel, ask @pandeyathotmail, believe he agrees with me. Shouldnāt bail out people who take excessive risk.
All weāre doing is conditioning people that they donāt need to be responsible. Spend every penny and rack up debt. Itās ok, since youāll get handouts when the economy goes sideways. No one is going to believe they need to be financially responsible. Meanwhile, the people getting handouts will vote for higher taxes on the people paying for their handouts.
My cousin was complaining she had to call each credit card company separately to find out what they are doing for coronavirus and see whoās let them skip payments. That means each card has a balance, and it sounded like several. She also had to do the same for their two car leases which are a total of $1,500/mo. Itās the most insane thing Iāve seen.
I suspect the market will have another down leg. Humans are not equipped to assess exponential trends. Places that look calm today may be just at the bottom part of the hockey stick graph. Lots of red states are in that camp, like Florida. Their rate of increase is high but base is small so if you just look at the absolute number that doesnāt look bad. And for that reason they donāt take this seriously yet and havenāt locked down. They have no idea a freight train is about to hit them in a week.
Jobless claims were 2x the consensus forecast and the market rallied. Rallying on horrible news is bullish. The market is looking 6 months ahead of today.
Signs of bottom. Even if there is a retest, I doubt a new low would be established. I am hoping there is a retest, then I can jump back inā¦ cloud and SAAS stocksā¦ many of them has shot up 30-50% from the bottom.
