last one here. on a ytd basis, nazzy100 just -6% from going flat for the year. the dj30 and spx now less than -20% down for the year as well.
i didn't have a whole heck of a lot of time on earlier this morning, but i just wanted to say that its GOOD to see you back on T! haha, i know what you mean about "screaming kid" in the house lol...my nephew has been making daily visits to our place since the outbreak, as schools are closed, etc. gotta love having him making all kinds of loud noises in the house, which makes it pretty close to impossible to do anything except for giving him my undivided attention oh and hey T, speaking of "kid" isn't the big bday for your little one coming up sometime later this month? or did that already pass? i've been meaning to ask about that. anyway, stay safe/healthy! really glad to see you're still able to check in here from home, despite said screaming kid lol.
Volatility Remains High Tue, Apr 7, 2020 Given the big rally off the lows of late March, we've had a number of questions related to the VIX and why it remains high. As of Tuesday afternoon, the VIX was in the mid-40s which is very high relative to readings over the last decade but actually down significantly from its recent highs above 80. The reason the VIX is still in the 40s is because the market remains volatile. While volatility is typically associated with markets that are moving lower, it can actually go both ways, which is exactly what we're seeing now. The charts below do a good job of illustrating just how extraordinary the market's swings have been in recent weeks. In many cases, it's unlike anything anyone reading this has ever seen before. Over the last five weeks, the S&P 500's average absolute daily percentage change has been +/-4.8%. That's higher than we saw at the height of the financial crisis, after the 1987 crash, and in the late stages of the Great Depression. The only time the S&P's average daily move over a five-week period was greater was after the Crash of 1929. Tuesday's rally also puts the S&P 500 on pace for its 13th straight day of moving up or down 1% or more. That's a longer streak than anything seen during the Financial Crisis and just two shy of the 15 straight days we saw in October 2002 at the lows of that bear market. Before that, though, the only other period where there was a longer streak of 1% daily moves was during the Great Depression. While 13 straight daily 1% moves is extreme by any measure, what makes this current streak even more notable is that it would be the second 13-day streak of 1% moves in the last 27 trading days. That's right, from 3/2 through 3/18, the S&P 500 went 13 straight days of moving up or down 1%. Then, on 3/19, the S&P 500 broke that streak by rallying just 0.47%. Since then, though, it's been 1% all the time again with the S&P 500 on pace for its 13 straight daily move of 1% again. Looking at this another way, in the last five weeks (25 trading days) the S&P 500 has seen a 1% move 24 times. The only other time that has occurred was during the Great Depression when there were two separate occurrences.
Still a seller today, I am able to get out of some of my long positions with some not so ideal entries after this 2 day surge
Let’s see if this market can stay in the green into the close. Would be a pretty big reversal if we turn red
indeed ... and kind of an interesting point where we reversed ... just a little shy of the halfback point of the entire bear market from the ATH to the dead lows of this down move
when is that saudi/russia meeting set for again? i think this thursday if i heard right correct? i wonder what time we'll get the actual statement or whatever. keep in mind that this friday the market is closed for good friday. so, if the statement comes after the cash market close on thursday then we won't actually get to see the reaction in crude and perhaps the overall market if there is no agreement. unless globex still trades friday which i think it might, would have to go check. i feel like if we are to see a test of the recent crude low could be a pretty neg catalyst for the overall market. i know the correlation hasn't exactly been perfect lol, but i would be really surprised if the market did not react negatively if black gold took another massive shit. we'll see.
who called for a flat spx day in the daily market direction thread for today? i think marcy (@anotherdevilsadvocate)? that's looking like an amazing call. really deserves some big time kudos if this thing ends +/-0.15% or less
Yea wtf happened today? Woke up in am to see up 700 pts then up 850 then checked after the bell to see it closed in the red . Vix wasn’t up much either with all of this. In regard to oil, it was funny to see Putin come out after Trump tweeted with pr’s they have no plans to cut. Then over the weekend the kremlin said yes we will meet about it then saudis canceled mondays meeting. Now all the sudden they scheduled an actual meeting. Talk about market manipulation. It seems like the circus ring of oil tsars right now. Who’s going to pull the monkey out of the hat next lol.
Chinese video streaming giant iQiyi accused of fraud, company says report contains ‘misleading conclusions’ https://www.cnbc.com/2020/04/08/iqiyi-accused-of-fraud-by-wolfpack-muddy-waters.html
