Reversal? Oh my. DOW GAINS 2100 PTS
Dow broke the down trend...
I was short until today. Went long on Semi's.
If the stimulus package proves to be effective and builds investor confidence then I'm inclined to go long here. There are some very good stocks that have dropped 50-80%.
From what I've seen, the package says that the government will pay furloughed employees their salary for 4 months. This to me is a good sign. It will keep people working. (How will they pay for it? Not entirely sure) I believe this will build investor confidence.
Government will bail out industries, Large tech companies providing aid, people and companies around the world helping out... There is light at the end of the tunnel.
I think if we are to go any lower, it will most likely retest the 18200 level but that seems to be a strong support.
My initial theory a few weeks ago was that we would see 16000-18000 dow. Now I am not sure that is the case.
Just my 2 cents.
I was short until today. Went long on Semi's.
If the stimulus package proves to be effective and builds investor confidence then I'm inclined to go long here. There are some very good stocks that have dropped 50-80%.
From what I've seen, the package says that the government will pay furloughed employees their salary for 4 months. This to me is a good sign. It will keep people working. (How will they pay for it? Not entirely sure) I believe this will build investor confidence.
Government will bail out industries, Large tech companies providing aid, people and companies around the world helping out... There is light at the end of the tunnel.
I think if we are to go any lower, it will most likely retest the 18200 level but that seems to be a strong support.
My initial theory a few weeks ago was that we would see 16000-18000 dow. Now I am not sure that is the case.
Just my 2 cents.
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