They are milking this "miracle" drug for all its worth. Its a crap drug, but they are getting a bunch of broad index pumping out of it. This is another pre market pump on supposedly good news for this miracle. Now everyone is free to go about their normal lives and not have to worry, with remdesevir, there is a backstop. LOL.
Of course, remdesevir is only part of it. It is the eternal hope, the Fed, which is the reason that we were levitating higher in overnight markets because, Powell will be dovish and who knows, maybe he will hint at buying stocks in the future, or at least won't rule it out.
Pension funds are rebalancing out of stocks and into bonds this week, and today and tomorrow should be the main rebalancing days. It doesn't seem to phase stocks, as they keep going higher, as a combination of a big short squeeze ahead of the Fed and hopes for great things after the reopening of the economy rally stocks again.
I have entered a short today, a little bit early as this thing goes higher even with the big gap up. At these levels, the risk reward favors shorting. I will probably close it out later this week, so not a long term short.
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I would not close out this week that's for sure. You'll be down on it tomorrow as we go up another 30 points on the spx to 2950. AAPL coming out with earnings tomorrow and fb after the close today. I missed out on this rally for the most part because of the short bias.
I mean what's the fed going to say today? That they think the market sucks and it needs to come down? No they are going to announce that they are ready to buy whatever asset class it takes. It's all paper money at this point and no amount of selling by some funds is going to outgun the 10+ trillion in printed paper dollars the FED is putting into this motherfucker.
It's like arguing against a room full of people thinking you are right when the entire room doesn't think so. That's the mindset of a short seller. LMAO
Flipped out the short and gone long LUV one of the only stocks that's literally not bounced at all in this market. And a high quality one. Looking to short tomorrow or Friday. I bet Friday we tank. JMO
Zero chance Amazon screws up earnings tmrw after the close. That means mkt goes up again on Friday. Fudge this is like a perfect storm. Cant short tmrw because i know after amzn earnings thats causing minimum 1 percent bump. Friday it is
Don’t think earnings matter, too much uncertainty over the rest of the year. Expecting sell the news reaction after Powell says some dovish crap that everyone already knows. I will see how it plays out, dont want to stay short too long, expecting more pumps in May
Prepare to average up. We are on the tale end of this shit. This cant go on past Friday. Waiting for LUV to go to 32.50 then I join the darkside. Muahahaha
I looked at this spy chart to see the trajectory and velocity of this move up. Comparing it to the previous times market looked like this running a scan against the high powered model in my brain. I think we are going to 3120 in this move. Straight.
Shorting more overnight, will cover the add later today. Looking for a gap fill during regular market hours.
You still think we're going to 3120? Don't get too bullish on up days, dawg. That's how they take your money.
Yeah dawg im still bullish. I thought we were going to go positive today but i guess not. I think if we go lower the most is around yesterdays gap fill so down to 2850 ish area. But the way it looks right now not sure that will happen today or at all. Lot of stocks havent fully bounced. Look at BAC or WFC for example. This rally was led primarily by tech. Now tech will fade and banks will replace. Also oil stocks are looking very strong. And airline stocks like LUV have hardly bounced. I think market is looking 3 or 4 months out. If we close over 2910 today i think you should cover as i think we will retest yesterdays high
Covering my short here. Will reshort next Monday or Tuesday. It should bounce again soon, but won't play long.
Amzn didn go up after earnings but it didnt go down much either. I sold 1/4 of LUV but i guess ill hold till tomorrow and see what happens. Might just dump it and get short tmrw. There are no more major earnings coming out and its may. Feel we can still get to 3120 but have to say more downside risk than upside
Awww shit we're tanking. Damn
gonna have to hold the luv. Hopefully we just fill that gap from yesterday and go back up.
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