ES Journal - 2019/2020

Nighthawk · Mar 9, 2020

hafez50 said:
Spooky. Tomorrow march 9th was the bottom 11 yrs ago.

Here comes a classic 11 years ago:

I recall the day very well here on ET.....;=)

Nighthawk · Mar 9, 2020

vanzandt said:
One thing has been bugging me all day.
This:

View attachment 221496

Its a pure setup for mockery. The Nero thing.

Followed by this:

View attachment 221497

Great Grandma VZ just tapped me on the shoulder.
Buy this dip. I know this sounds crazy...
but there might just be a vaccine.

I'll take cover now, because here come the stones.
"Duck Zandy!"

Either he will call MBS in Saudi Arabia or he will call Mnuchin who in turn will call a certain Jerome....

Buy1Sell2 · Mar 9, 2020

All computer panic selling. The market hits bottom when the last small retail investor sells. Then there is no one left to sell. Market is healthy and I continue trading on the long side. Using strict risk mgmt rules as always and not risking more tha 2 percent of TLNW.

Noone123 · Mar 9, 2020

SPX at 2700 or so is 20% correction. That's pricing in a recession without hard numbers and based on fear. I will look to buy and play this dip. Man, it will be a crazy day.

hafez50 · Mar 9, 2020

Spy down 7% which is the first circuit breaker. . If it opens there or below is there an automatic halt?

vanzandt · Mar 9, 2020

$SPY is $276 pre-market. 7%.
15 minutes halts all day?

Trump is busy Tweeting about Obama. Wtf.

I think he's got something up his sleeve. We may not have a vaccine, but he's gonna announce some kind of fiscal plan to keep the markets up. Maybe some tax rebate or something? I dunno, but I have a feeling he's gonna say something today that will induce a huge spike. His Obama Tweet is just his slight of hand in 3 card monty. We'll see.

JamesJ · Mar 9, 2020

hafez50 said:
Spy down 7% which is the first circuit breaker. . If it opens there or below is there an automatic halt?

Yes, for 15 minutes everything halts.

https://www.nyse.com/markets/nyse/trading-info

JamesJ · Mar 9, 2020

vanzandt said:
$SPY is $276 pre-market. 7%.
15 minutes halts all day?

Trump is busy Tweeting about Obama. Wtf.

I think he's got something up his sleeve. We may not have a vaccine, but he's gonna announce some kind of fiscal plan to keep the markets up. Maybe some tax rebate or something? I dunno, but I have a feeling he's gonna say something today that will induce a huge spike. His Obama Tweet is just his slight of hand in 3 card monty. We'll see.

Agree

Specterx · Mar 9, 2020

Noone123 said:
SPX at 2700 or so is 20% correction. That's pricing in a recession without hard numbers and based on fear. I will look to buy and play this dip. Man, it will be a crazy day.

Don't be in too much of a hurry to buy. If the Fed comes out with a $2 trillion ETF buying program starting immediately then that's one thing, but otherwise there are tons of big players who got totally nuked over the weekend, a long and growing list of now-worthless debt securities to digest, and tens of billions riding on quant strategies which just had their models totally vaporized.

vanzandt · Mar 9, 2020

I mean really? This is what's on his mind this morning? Oil at a 30 year low, circuit breakers getting ready to pop like Orville Redenbacher, Corona cases doubling daily...
No way... he's gonna announce something big.