Goldman Sachs abandons its bearish near-term view on stocks, says the bottom is in

Specterx said:
The market will move in a way to frustrate the greatest number, as it usually does.

Right now I sense bears are frustrated, pissed off having missed the first huge leg down, nursing losses from the last few weeks, ranting at the insanity of the Fed, either averaging down into this rise or itching to go all in as soon as they see a hint of downward momo. Bulls are confident but either not long or long only a small portion of the size they want, not wanting to chase the rally higher and waiting for a retest/dip or looking to buy in the May-July timeframe.

This seems to be a recipe for choppy rangebound action, with downward spikes to shake out weak bulls and trap bears, but not offering a clear retest of the March lows - with risk to the upside, barring another unexpected black-swan shock.
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Very, very well written - you make some excellent points.

Agree re consolidation possible here, check VIX 90day chart, mean reversion often yields chop.

Reaction to earnings will drive price action this week.

Given big picture devastation re unemployment, gdp, virus etc I can't see non fed buying stocks near-term beyond consumer staples, Amazon ZM cv biotech plays, not much breadth to sustain rally.

I was up 9k trading inverses during earlier drop this year, gave back several k bottomfishing inverses recently.

So I think odds are selling accelerates soon, though I could be wrong.
 
KCalhoun said:
Very, very well written - you make some excellent points.

Agree re consolidation possible here, check VIX 90day chart, mean reversion often yields chop.

Reaction to earnings will drive price action this week.

Given big picture devastation re unemployment, gdp, virus etc I can't see non fed buying stocks near-term beyond consumer staples, Amazon ZM cv biotech plays, not much breadth to sustain rally.

I was up 9k trading inverses during earlier drop this year, gave back several k bottomfishing inverses recently.

So I think odds are selling accelerates soon, though I could be wrong.
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Ray Dallo was on NPR[about the most inaccurate news group on the earth LOL] He seemed to be stuck on his ''capitalism is broke'' / guilt trip. But the oil market may seem broke or some may go broke @$20 oil.
Bill Gates/MSFT seems to have got rid of his guilt trip by giving full time??
 
Specterx said:
The market will move in a way to frustrate the greatest number, as it usually does.

Right now I sense bears are frustrated, pissed off having missed the first huge leg down, nursing losses from the last few weeks, ranting at the insanity of the Fed, either averaging down into this rise or itching to go all in as soon as they see a hint of downward momo. Bulls are confident but either not long or long only a small portion of the size they want, not wanting to chase the rally higher and waiting for a retest/dip or looking to buy in the May-July timeframe.
More...
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RAY dallo was on npr[fakest of fake news] guilt tripping on ''failure of capitalism'' HUH??
That sounds like fake news promoting panic selling of DOW when it went down oct-dec bear;
SDOW did great then; I tried to sell DDM all day-
I wish I had a limit order @ 34, but high '90s can work also LOL-not that its a ''failure of capitalism''
I like his top trader interview/jack schwager, he mentioned a hog trade loss + FED turning a bear into a super bull.
Glad I cut a loss on RUSS, looks like the crooked commies cheated or oil buyers may do well late 2020?? Bill gates/ MSFT doesn't seem to be guilt tripped on his billions, but he is a full time giver now/medicine foundation also-God bless him/USA
 
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