ES Journal - 2019/2020

[schizo]

Remember it well... at least from ‘75 on .. born in ‘69... the ‘80s were extremely robust under Reganomics as it really was the decade that defined and made us... capezio shoes, Cavvarichi jeans, Drakkar and big hair!! .. Point being is how do we allow a competitor on verge of being a sworn enemy manufacture our medications?
that said, we need to be more self dependent as the most creative, innovative, resilient country this world has ever seen, we are more than capable.... Like every traders mantra should be, defense first and never ever leave yourself open to being KO’d...

All valid points. But let's remember that America today is not the America of the Reagan era. We've become so dependent on cheap products coming from abroad, I doubt we will be able to adapt if the rug was pulled from under our feet. Also the whole mentality has changed with the emergence of the Internet. Now the entire globe is connected and to implement an isolationist trade policy would almost be suicidal. Finally, it's worth remembering that our economy is a consumer economy. In order to sustain a economic growth, consumer spending needs to be sustained. Bringing manufacturing back home creates a two-fold problem. First, it will raise the cost of output across the board. This will dampen consumer spending. Second, if we choke off foreign investments, namely not importing, it will effectively kill the world economy, which in turn, will have a negative consequence for our own economy.

 

[Noone123]

Actually, this is good. We closed with a "pipe" formation (2 consecutive long tails), which is a reversal sign.

Well, with all the bad news today and we still pulled a big rally to close flat. It's not too bad. But closing near 2400 is not a good place since price could swing either direction.

 

[Overnight]

Well, with all the bad news today and we still pulled a big rally to close flat. It's not too bad. But closing near 2400 is not a good place since price could swing either direction.

Price action continues into the ETH, and not looking good at all. 2350 and falling.

 

[Spooz Top 2]

All valid points. But let's remember that America today is not the America of the Reagan era. We've become so dependent on cheap products coming from abroad, I doubt we will be able to adapt if the rug was pulled from under our feet. Also the whole mentality has changed with the emergence of the Internet. Now the entire globe is connected and to implement an isolationist trade policy would almost be suicidal. Finally, it's worth remembering that our economy is a consumer economy. In order to sustain a economic growth, consumer spending needs to be sustained. Bringing manufacturing back home creates a two-fold problem. First, it will raise the cost of output across the board. This will dampen consumer spending. Second, if we choke off foreign investments, namely not importing, it will effectively kill the world economy, which in turn, will have a negative consequence for our own economy.

Agreed and not suggesting isolationism or choking off foreign investments ... they need us as much as we’ve created the need to need them to produce our cheap goods.. delicate balance between the two as we are now the newly crowned consumer nation.... but the need to be highly selective in hedging our bets....

Good discussion... back the grind!

 

[hafez50]

I think the mkt's dead here . Wait till the shocking #'s of 500-1m weekly claims hit in a week. Millions of people are begging for a rally to exit some longs their stuck in just like the shorts never got chances to exit their positions for 11 yrs .

 

[themickey]

No bottom in sight, there is nothing to be optimistic about the current business environment.

 

[themickey]

Even the oil rally looks fake.

 

[Laissez Faire]

My long only friend says this is the bottom. Allegedly, we can't fall more than this. It's too much.

 

[Laissez Faire]

I'm reading some other local forums too. Man, there's some guys there who's been roughed up pretty badly. A lot of these guys started their investment careers around 2010 and have only known this bull market we just finished. They've spoken about risk earlier, but I think it's one thing to know it in theory and another to actually live through it.

The wife of one of the guys just liquidated her savings in stocks with a HUGE loss. Couldn't take the pain any longer or risk more downside.

 

[FriskyCat]

I'm reading some other local forums too. Man, there's some guys there who's been roughed up pretty badly. A lot of these guys started their investment careers around 2010 and have only known this bull market we just finished. They've spoken about risk earlier, but I think it's one thing to know it in theory and another to actually live through it.

The wife of one of the guys just liquidated her savings in stocks with a HUGE loss. Couldn't take the pain any longer or risk more downside.

Care to share a few of the other forums. Always interesting to read the stories.