Profits still profit. At least you're still in the green, could be worse.

Edit to say, see One above *

Technical question for you more experienced guys.

Looks like DIS is about to form a "W" . If it does is that the take off to 108 and beyond?

Edit: Didn't appear to be. Back to the handbook I go.

zwhag2010 said:

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oldarmy1 said:

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DIS absorbing all of the early profit takers. Look for $108 to break it open for that major run.

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You mean a run up if it breaks that value? Not challenging just trying to understand this stuff better

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Yes, that is an IF/THEN proposition, which is why we sold on the opening pop to get original capital back.

Just got a text from co worker about Robinhood promotion for free stock. He thinks now is time to load up, can only go up. Probably a good indicator of bull trap and imminent crash.

Every knee shall bow and every tongue shall confess

Sold off 1/4 of my OVV at 4.61 after the 10% pull back from the day high for a 28% gain on them. Planning to sell 2/3 of the rest a little above 7, and hopefully let the rest ride for a long time.

I covered my OXY. Not the way I wanted to trade last day of the week.

OverSeas AG said:

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OVV is now falling like a rock.

from 5 down to 4.40. SMH.

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Looks like a cup and handle trying to form

Dat $8 LADR

AggiePeeps06 said:

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https://www.cnn.com/2020/04/09/business/americans-rent-payment-trnd/index.html

Nearly a third of Americans didn't pay rent April 1

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What does this mean for the market? Not trying to be an ass, just want to understand what all is going on

Probably nothing. Everything "is already priced in"

TheVarian said:

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AggiePeeps06 said:

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https://www.cnn.com/2020/04/09/business/americans-rent-payment-trnd/index.html

Nearly a third of Americans didn't pay rent April 1

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What does this mean for the market? Not trying to be an ass, just want to understand what all is going on

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It's not a good sign for the economy - but as for what it means for the market, much like all of the bad stuff that is going on it depends on if you believe the market has already taken it into account. People keep throwing out these unemployment #'s like it's going to tank the market that day when the market has known how bad the unemployment #'s were going to be for quite some time now.

The question is how much of all of this was already factored into the big drops we had in the middle of March.

TheVarian said:

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AggiePeeps06 said:

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https://www.cnn.com/2020/04/09/business/americans-rent-payment-trnd/index.html

Nearly a third of Americans didn't pay rent April 1

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What does this mean for the market? Not trying to be an ass, just want to understand what all is going on

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On a macro level it's a negative indicator. If folks aren't paying rent, they sure as heck won't be buying as much discretionary items.

More focused, it paints a bleak picture for REITs. This is especially true for smaller REITs that don't have enough employees to take advantage of PPP relief.

AggiePeeps06 said:

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https://www.cnn.com/2020/04/09/business/americans-rent-payment-trnd/index.html

Nearly a third of Americans didn't pay rent April 1

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Not sure any of this matters right. The Fed and Treasury are backstopping the entire economy. Its a traders market.

gougler08 said:

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OverSeas AG said:

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OVV is now falling like a rock.

from 5 down to 4.40. SMH.

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Looks like a cup and handle trying to form

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Did you sell the spike? That was the spike flash above $5

Every knee shall bow and every tongue shall confess

Note how most stocks have made a V formation. Remember all the yahoo's talking about lower lows or extended rounded bottom recovery.

Yeah, it takes all to make a market. I could understand it somewhat when at lows wondering where it stops, but once the reversal confirmed the Model T percentages are always your best trade directional. The easy money is now coming to a close and will be most difficult to see what big money is doing.

Jevertson said:

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Lower from here.

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There really hasn't been much debate on that. Almost everyone and their dog thinks we go lower from here. I have seen pessimistic and optimistic people say this. I have seen fundamental and technical traders say this. It is near 100% agreement.

Now, what are the very other few arguing?
1. When has there been a time when everyone was right?\
2. The Fed and the Gvt is throwing so much money at this and corona may continue to lessen over next two weeks that the market may not retest.

oldarmy1 said:

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gougler08 said:

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OverSeas AG said:

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OVV is now falling like a rock.

from 5 down to 4.40. SMH.

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Looks like a cup and handle trying to form

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Did you sell the spike? That was the spike flash above $5

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I'm not in it, do think it could be a decent trade opportunity if you can get it at $4 though

gougler08 said:

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oldarmy1 said:

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gougler08 said:

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OverSeas AG said:

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OVV is now falling like a rock.

from 5 down to 4.40. SMH.

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Looks like a cup and handle trying to form

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Did you sell the spike? That was the spike flash above $5

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I'm not in it, do think it could be a decent trade opportunity if you can get it at $4 though

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Yup....I sold non-core extra buys from its large volume bottom days only. I'd have to see $3.50 to be tempted to buy those back.

Fundamentals will eventually come into play. I agree with whomever said it was a traders market right now. To use trading parlance, we're right at the 50% retracement level and bullish sentiment is high. If technical trading holds true, the most likely move is down to 2400 from around here. If you read Twitter, many bears are losing hope, even some of the perma bears feel powerless with the fed acting. Could it be a bull trap?

The wild card is the fed, who is literally firing a bazooka every time negative news comes out. 6.6M unemployment claims, 1.6M above estimates? Surprise!! we're going to blow up the enemy and give away $2.3T. That is a staggering number, roughly 10% of American GDP. They're buying junk ETFs. The only thing left is equities. What will stop the fed from buying everything and creating the next super bubble?

I personally think we're due for some downward retracement before the fed starts buying equities. Volume yesterday was lighter. That said, nothing will surprise me now. I could just as easily see us rallying to SPX 3500 next week as retracing to 2400. It is easier to buy right now than sell.

jj9000 said:

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Proposition Joe said:

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The question is how much of all of this was already factored into the big drops we had in the middle of March.

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17M unemployed in ~3 weeks wasn't baked into the big drop Mid-March numbers.

Edit...There's a reason why the Fed pump news is getting released today.

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Thing is, you really don't know. At the beginning, many were thinking massive layoffs, 2.2 million deaths, numerous bankruptcies, no new jobs for a long time, bailouts won't work (didn't help much in past), etc.

As days have gone by, we are starting to see it isn't as bad as we thought and that the government is doing better at putting the money where it belongs.

I'm not saying the entirety of it was baked in, but there was absolutely talk back in mid-March that this was going to get really, really bad.

NBA suspended it's season on March 11th. I don't think it's a huge stretch to think that there were a lot of really sharp financial minds (or people high up with a lot of inside info) that saw the writing on the wall a few days before that about how bad this pandemic was going to be.

On Feb 3rd the chinese stock market took a dump... Anytime between that date and when ours took a dump I think it's realistic to think some sharp minds did some digging and didn't like what they saw our economy was in for.

AggiePeeps06 said:

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https://www.cnn.com/2020/04/09/business/americans-rent-payment-trnd/index.html

Nearly a third of Americans didn't pay rent April 1

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Interesting that only 81-82% pay rent on a normal month. From 82 to 69 isn't as bad as I thought.

Also, a lot of these folks are about to get lumped some money.

Every knee shall bow and every tongue shall confess

oldarmy1 said:

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gougler08 said:

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oldarmy1 said:

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gougler08 said:

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OverSeas AG said:

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OVV is now falling like a rock.

from 5 down to 4.40. SMH.

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Looks like a cup and handle trying to form

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Did you sell the spike? That was the spike flash above $5

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I'm not in it, do think it could be a decent trade opportunity if you can get it at $4 though

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Yup....I sold non-core extra buys from its large volume bottom days only. I'd have to see $3.50 to be tempted to buy those back.

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Sold the 4 Apr 17 puts for $0.25, happy to pocket the premium or take a small stake at $3.75

Every knee shall bow and every tongue shall confess

What happens to options that expire while trading halted?