willjohnathan said:

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There were some reports that a lot of doctors were taking it because it is thought be preventative as well. Also, there have been a few reports that there was a very low infection rate with people with Lupus. Not sure of the accuracay of any of the reports though.

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Did not know about it being a preventative. Makes sense now.

I just thought he was taking to help hype it up or something.

Trump's main vaccine guy, who works at MRNA, made $3.4 million in stocks today.

https://www.nydailynews.com/coronavirus/ny-coronavirus-moderna-vaccine-trump-slaoui-moncef-elizabeth-warren-20200518-aua4tkcy4vexlcl4fgppqhyfeu-story.html

leoj said:

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Wonder if we're being set up for an epic bull trap

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I don't know, but I did take out some profit today and left it in cash to react to a downturn. I'm curious what the Mnuchin/Powell testimony does tomorrow.

I'd like to think so, but I've been wrong for over a month so far. Cause I'm a fool and all. Still think we see sub 2700, maybe even sub 2600 SPX

anyone else seeing double bottom/W pattern on S&P since late April? That would be very bullish even after today.

Carlo4 said:

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IrishTxAggie said:

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Of course!!

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So the company is raising more capital OR this allows the executives to dump their shares for record profits after an announcement.

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I don't think they have any marketed products. I'm sure there was some profit taking, but smaller biotech is wise to take as much funds out on big news as possible. In all likelihood, their product will flop, or not be as great as it seems early. The big fundraising keeps the lights on later.

Aggies1322 said:

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Carlo4 said:

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anyone else seeing double bottom/W pattern on S&P since late April? That would be very bullish even after today.

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Nothing about this market will make me feel bullish. I'm trading what's in front of me, but the fundamentals of this market are disturbing.

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My mind says to get out of the market and wait as this shouldn't happen. The charts told me to go long at 2890 on SPX and enjoy some gains today.

Learning from lessons, I'm just doing what the charts tell me to do. If it gets over 2970, look out for continued bullish behavior.

Carlo4 said:

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Aggies1322 said:

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Carlo4 said:

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anyone else seeing double bottom/W pattern on S&P since late April? That would be very bullish even after today.

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Nothing about this market will make me feel bullish. I'm trading what's in front of me, but the fundamentals of this market are disturbing.

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My mind says to get out of the market and wait as this shouldn't happen. The charts told me to go long at 2890 on SPX and enjoy some gains today.

Learning from lessons, I'm just doing what the charts tell me to do. If it gets over 2970, look out for continued bullish behavior.

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I have a number of long positions, no short positions. I'm willing to make money where it allows me to. But my outlook is very, very bearish. Maybe I'm just a pessimist though.

today was a big L for WORK. Found support at the 21d ema but negated that move above 30

tk for tu juan said:

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Carlo4 said:

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Amazon in talks to buy JC Penney's JCP stock halted

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Must be eyeing that HQ property in Plano

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I'd imagine the distribution centers are prime for Amazon supply chain. They could probably push any inventories in them too

It's on my watchlist. It had a couple interesting calls bought today. Waiting to see the OI in the morning.

leoj said:

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Wonder if we're being set up for an epic bull trap

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Maybe Powell will continue pumping even when no shutdowns exist, or he has already pumped enough for a new decade long bull market.

We are at war with a hyped up virus. Instead of selling war bonds and more taxes, we are printing money and buying junk bonds, so much more bullish.

tk for tu juan said:

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Carlo4 said:

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Amazon in talks to buy JC Penney's JCP stock halted

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Must be eyeing that HQ property in Plano

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I believe JCP sold that campus to an investor a couple years ago.

I have a theory that a lot of this market success is actually being created by the number of bears trying to short the market and because there are so many short positions it's actually creating fear buy offs. However, once the bears run out of money and/or get tired of trying to short then things will go back down. Thats my theory anyways.

How I came up with this? I kept trying to short JPM and LUV until I was blue in the face and kept watching prices spike up as the SPY began to crash only then for it to climb up again (but slower) once the SPY started to trend up again.

We'll see how accurate it is, but if it is then I think many bulls are going to be shocked once there are no more short sellers to give them free money. Still think 250 is guaranteed, but could imagine worse depending on how things play out.

You're all on notice then. Sorry all.

Have we discussed Overstocks unique dividend?

55 minutes, c'mon man. any particular time slices to watch?

haha, ya its long. Its all pretty good. If you are familiar with Ziehan for the most part it wont be anything new.

Carlo4 said:

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IrishTxAggie said:

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Of course!!

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So the company is raising more capital OR this allows the executives to dump their shares for record profits after an announcement.

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Welcome to the world of biotechs

Pretty bold predictions on China's imminent collapse in that video at 25 min mark.

thirdcoast said:

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Pretty bold predictions on China's imminent collapse in that video at 25 min mark.

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108 million on lockdown as of this morning in China

12thMan86 said:

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thirdcoast said:

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Pretty bold predictions on China's imminent collapse in that video at 25 min mark.

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108 million on lockdown as of this morning in China

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Where are you getting that number from?

https://www.google.com/amp/s/www.bloomberg.com/amp/news/articles/2020-05-18/over-100-million-in-china-s-northeast-thrown-back-under-lockdown

Beat the Hell said:

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Have we discussed Overstocks unique dividend?

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Easily 600-700 pages ago, when things moved at a slower pace around these parts! I don't remember the discussion much, but you may take a look back around when they announced it. Maybe November last year or so.

IrishTxAggie said:

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12thMan86 said:

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thirdcoast said:

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Pretty bold predictions on China's imminent collapse in that video at 25 min mark.

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108 million on lockdown as of this morning in China

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Where are you getting that number from?

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https://www.bloomberg.com/news/articles/2020-05-18/over-100-million-in-china-s-northeast-thrown-back-under-lockdown

Thanks. I knew it had popped back up in Jilin, didn't know they went full Wuhan on it

I feel like fundamentals are the easy part. They are publicly filed and normally not that hard to grasp the overall picture and critical points if you know some accounting and finance. Market trend and psychological factors are the third leg in addition to technical and fundamental factors that is the real wild card and the hardest part to estimate, imo.

For instance...everyone was so bearish at 2100 that we have had a V recovery that was ironically partially caused by a large number of people, myself included, thinking it was a bear market recovery/trap and waiting for the other shoe to drop. Did not see that coming.

With bears seemingly giving up the fight as we approach 300, we have another interesting potential factor to consider. But then again we've had the chance for significant pullbacks and have got only the 4/1, 5/21, 5/1, and 5/12 down days. 4/1 was when I thought for sure we were about to get whacked again when we had an 87 point gap down and would have started an "h" type sell off. Just up 200 points since instead lol.