24 Mar 2020, we have a nice gap up and DJI continues to scare the short sellers with its relentless pursuit of the bullish move, going higher and higher till 22500 level.
But all good things must come to an end, isn't it? The bulls have their part last week , popping champagne and all while the bears are probably at home watching Netflix, haha.
No worries, Mr Market knows what to do and hearing the cries of the bears, decide to play to the their tune next week (hopefully no surprises)
As usual, do not expect a 90 degree nosedive but expect pullbacks along the way, ya ?
Trade safely everyone !
But all good things must come to an end, isn't it? The bulls have their part last week , popping champagne and all while the bears are probably at home watching Netflix, haha.
No worries, Mr Market knows what to do and hearing the cries of the bears, decide to play to the their tune next week (hopefully no surprises)
As usual, do not expect a 90 degree nosedive but expect pullbacks along the way, ya ?
Trade safely everyone !
Note
cnbc.com/2020/04/01/oaktree-capitals-howard-marks-on-investing-amid-coronavirus-pandemic.htmlNews like above may tempt you to go into long position. Nothing wrong but make sure you are comparing apple to apple. Billionaire has net worth of 9 zeros behind so averaging down 100,000 each time is a drop into the ocean. He can probably do so 10 times , once a month for 10 months to reach 1 million, a tiny fraction of his money.
I don't know about you. I have yet to buy into any except for my existing holdings thus far, believing there is another leg down. So, I am still selling .....
Note
marketwatch.com/story/outspoken-wall-street-bond-whiz-says-the-stock-market-is-acting-dysfunctional-and-may-hit-rock-bottom-once-we-take-out-marchs-low-2020-03-31?mod=home-pageIf the bond king's prediction is right, then we are looking at the 18344 level to be taken out. That may take some time. Imagine 6.6 million people has filed for unemployment benefits, how bad is the situation in US ????
Let not the oil rally yesterday fool you into thinking the market has recovered. Imo, it is far from bottoming out as I have been reviewing the charts across the board and weave the stories beneath it.
Think of it this way. There are many pots that the fishermen need to fill it up with fishes they caught. But the biggest pot, US ,has a leak and fishes are escaping out from it. China has found a way to seal the hole but is fighting hard as well to ensure the new fishes caught will not contaminate the existing ones in the pot.
Other pots like France, Spain, Italy, UK, India, Australia, etc are facing the same problems. Each has a different leaking hole to take care of. Each country has its own healthcare system challenges to solve. And the existing fishes (citizens) are no longer able to swim in a shoal like before but keep 1 metre apart (social distancing). These social animals are suffering in their own little corner and feeling uncertain, unhappy and unfulfilled with the situation.
They hope the fishermen could resolve the problems asap. So, all these fishermen have introduced many measures to help the fishes, giving them free worms (cash incentives), free sanitizers, payroll tax, etc to solve part of the problem.
The ones that suffer the most are the vendors - who is going to buy the worms , the clothing , the shoes, etc ?
The problem will exacerbate to a unprecedented level that mankind will regret to see and experience......Let's pray for this calamity to go away soonest possible so that things are back to normalcy.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.