ES Journal - 2019/2020

EON Kid · May 12, 2020

EON Kid said:
short NQ 9321.5 tight stop

stopped - hard market to short

schizo · May 12, 2020

Short 23.75

schizo · May 12, 2020

schizo said:
Short 23.75

-2

Flip long 25.75

schizo · May 12, 2020

schizo said:
-2

Flip long 25.75

-3

Flip short 22.75

IB_Dude · May 12, 2020

hafez50 said:
Banks are weak every day it seems . Wfc is hitting or near new lows daily.Still a dribble down . One day soon they'll let the mkt fall with more authority .We've been up in the 2800-2900 for a long time now .

I don't know what it is, but something stinks at Wells Fargo (WFC). I'm sure it'll all look obvious in hindsight

schizo · May 12, 2020

IB_Dude said:
I don't know what it is, but something stinks at Wells Fargo (WFC). I'm sure it'll all look obvious in hindsight

Class action lawsuit.

hafez50 · May 12, 2020

IB_Dude said:
I don't know what it is, but something stinks at Wells Fargo (WFC). I'm sure it'll all look obvious in hindsight

Yes Wfc the worst of all of them . The massive credit card and mortgage loses coming for all the banks . Come Sept hell hits for a lot of co's. Thats when everything runs out . I'm sure Trump will desperately try to throw more money at co's as the election will be near

syswizard · May 12, 2020

I anticipate prices will move well below $20 as Cushing reaches working capacity in the next couple of weeks.

Above is a quote from Art Berman, prominent oil industry analyst dated May 6th. Yet WTI June contract is painting a fairly bullish chart with higher lows. ...and refuses to drop below $23. If you look hard enough, there is a bullish pennant being formed on the chart. Could this PA indicate the market awaiting an announcement from Trump to "save" the oil industry ?

trading_jean · May 12, 2020

I think demand finally is increasing last couple of days since more and more countries (partially) lift measures. In these countries it also becomes clear everyone that has an alternative chooses that over using public transport. So my guess is buyers are betting demand will pick up drastically from here on.

IB_Dude · May 12, 2020

schizo said:
Class action lawsuit.

hafez50 said:
Yes Wfc the worst of all of them . The massive credit card and mortgage loses coming for all the banks . Come Sept hell hits for a lot of co's. Thats when everything runs out . I'm sure Trump will desperately try to throw more money at co's as the election will be near

Yea, I'm standing clear of financials right now. They've been a favorite playground for me, but not no mo' until shit gets clearer. I hear those mortgage deferrals were quite popular