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Stock Market Today: May 18th - 22nd, 2020

Discussion in 'Stock Market Today' started by bigbear0083, May 15, 2020.

  1. T-Coonazz

    T-Coonazz Member

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    Nice moves finally on Silver but it has a tough row to hoe with heavy resistance about where it is now and above Waitin about4 years for this thing to move. I have over 32# of it in antique silverware.
    W silver.png
     
  2. T-Coonazz

    T-Coonazz Member

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    I really like this market volatility, it`s a day and swing traders dream $$$
     
  3. Vdubman

    Vdubman Well-Known Member

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    Gold is at ATH’s. Silver is still more than 50% below ATH’s. Naturally it has more room to run than Gold does. When it spikes, it will spike hard. I don’t think it will reach ath levels but $30 is very easily attainable right now with this crazy market and people looking for everything to make a buck on.
     
    T-Coonazz likes this.
  4. Wall Street Trader

    Wall Street Trader New Member

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    Dear people. The s & p 500 made an explosive recovery after the crash. Some say it is priced-in.
    And that can be one reason( although I doubt it).
    But even if that is a bigger reason, companies are making losses. EPS are expected to be low almost everywhere next quarter. There are millions of unemployed in the US. (Even compared to the great depression). This is also the case in Europe and although we see a dead cat bounce here and there in the stock market indices, they remain largely lower and do not rise.
    Example (bel20 and Madrid index). It is in the US by "printing" money and recent negative interest rates that we owe to BIG J Powell (Jerome Powell Federal Reserve).
    So I thought it would be a good idea to shorten or buy puts because if J Powell lets the money printer go brrrrrrr again. And the S&P rises higher, I am not shortquised with a put because I limit my loss inhin exchange for an expiration date. What do you think ?
     
  5. bigbear0083

    bigbear0083 Content Manager
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  6. T-Coonazz

    T-Coonazz Member

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    $30 would be nice on Silver, I`ll be watchin it as always and I think Gold has a good run coming any day now when looking at the very bullish chart now/ cup and handle formed off that wedge break out. On watch big time.
     
  7. Ken34

    Ken34 2017 Stock Picking Contest Winner

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    i know i shouldnt be shocked at this point, but i would really be shocked if we break above the 200 day and not have a huge pull back within the next few weeks...but the FED too strong lol.
     
  8. DollarDogs

    DollarDogs Member

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    My shares of DAL and LUV are finally back in the green since Buffett opened his big mouth lol!
     
    stock1234 likes this.
  9. AverageJoesTrades

    AverageJoesTrades Well-Known Member

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    about to test the overnight lows here.
     
  10. DollarDogs

    DollarDogs Member

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    Any ideas why Biotech is all generally down? I'm debating buying back into MRNA after selling them at 80 the other day.
     
  11. Frankenstein

    Frankenstein Active Member

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    Ok. From a trading standpoint, I am now rooting for the market to collapse. I can then start to recover what I lost--and then, the more interesting thing for me, to start making a profit again. I'd like to see SPX 2700 or minimally 2800. This current 2950 level is too risky. Because of the price action, it used to be around 3100 level that was ok [Hence, I had averaged in at around the 3100 level]. But, that collapse to 2200 or whatever radically changed things. I didn't expect that, at all. I didn't expect that level of volatility. I find it interesting that the price has not hit that 3100 level yet. But, I do understand from my theory why the price is struggling at around the 2950 level. But, whatever the case, theory about price action or predication and trade management are completely different animals.
     
  12. stock1234

    stock1234 2017 Stockaholics Contest Winner

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    Seems like those stocks that have underperformed during the pandemic such as cruise, airlines, and retail, etc are outperforming today. Biotechs have really outperformed during the pandemic, so maybe just some rotation to those stocks that will benefit from the reopening of the economy
     
  13. stock1234

    stock1234 2017 Stockaholics Contest Winner

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    BJ soaring after earnings :eek: I have never visited its stores before but I guess they are benefiting from the pandemic :eek:
     
  14. anotherdevilsadvocate

    anotherdevilsadvocate Well-Known Member

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    Hmm that BJ is an interesting chart, it actually bottomed in February and was going up all of May when everything was crashing in the first half.
    [​IMG]
    It's definitely one benefiting from the pandemic.
     
    Steven_Burt and stock1234 like this.
  15. Frankenstein

    Frankenstein Active Member

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    I want SPX 2800 or 2750!
     
  16. Frankenstein

    Frankenstein Active Member

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    I think it could go either way--but I'd rather it be 2750 or 2800 for a long entry!
     
  17. DollarDogs

    DollarDogs Member

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    Makes sense. Looks like I'm buying Biotech then! Can't believe the week Royal Caribbean had.
     
    stock1234 likes this.
  18. Frankenstein

    Frankenstein Active Member

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    Collapse baby, collapse!
     
  19. Frankenstein

    Frankenstein Active Member

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    In this environment, any catalyst could show up, unpredictably, and so it's hard to predict what precisely is likely to happen--but there are "levels" of value
     
  20. Frankenstein

    Frankenstein Active Member

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    Futures at 2910!
     

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