Wow GS killer on earnings vs expected !

3225 (es pricing) breaks....lord help the bears.

Can you include a link to the data, too?

6.27 actual Vs 3.78 expected !

GreasenUSA said:

---

Can you include a link to the data, too?

---

https://www.tsa.gov/coronavirus/passenger-throughput

That's it kids, looks like SPY is never coming back.

Maybe who knows. But definitely potential to be a blast off gap like May 18.

corndog04 said:

---

GreasenUSA said:

---

Can you include a link to the data, too?

---

https://www.tsa.gov/coronavirus/passenger-throughput

---

Thank you!

59 South said:

---

Maybe who knows. But definitely potential to be a blast off gap like May 18.

---

Jump on the rocket ship

What's the play on FTNT here? It's taken a huge beating the last couple days. It's going to open lower than yesterday and I'm thinking it's prime to jump again, it's sitting just under the 50 day EMA.

Nevermind, I see they got downgraded. big boys must want to buy it cheap.

Word of caution... I wouldn't be chasing this week. If it gaps and holds into next week, then odds are very favorable of a new active sequence up. But big moves like this that hold usually go sideways a bit to consolidate. Look at the days following 5/18.

But very simply, here's the potential if breakout confirms. Patterns repeat themselves until they don't. If you look closely, you can see that both consolidation periods after power moves had double bottoms with the second one ever so slightly higher than the first.

corndog04 said:

---

Updated YoY TSA passenger counts. Pretty sharp down tick compared to trend yesterday.

---

Not sure how airlines survive this. Everyone I know that was traveling for business frequently isn't traveling for business anymore, except me (and I will travel about 20% as much as I did). Realize that's anecdotal, but the chart seems to agree.

McInnis 03 said:

---

That's it kids, looks like SPY is never coming back.

---

It seems like it's over.

Anyone got some option plays? Feeling bullish with some extra cash on hand

I agree and have seen and heard the same. I think LUV struggles with regional routes for biz commuters.

Almost fully agree... but I think they will 'survive' only because of bail outs. Also expect some consolidation. I don't see how it will ever be the same though for many reasons:

• A section of the global population will be forever scarred and never be able to think the same, whether you agree or not. There will be people who will never fly again or just severely limit how much they do.
• Companies will realize just how much money they have historically wasted on travel. The cat is out of the bag on remote working, etc. Technology advances will continue to embrace this.
• 'Green' agendas will latch onto this crisis and use it to further push the environmental benefits of reduced travel.

That being said, I could see a blip of travel surge due to pent up leisure travel backlog. My god, I personally want to get on an airplane so bad right now, and I'd pay a premium to do so.

topher06 said:

---

corndog04 said:

---

Updated YoY TSA passenger counts. Pretty sharp down tick compared to trend yesterday.

---

Not sure how airlines survive this. Everyone I know that was traveling for business frequently isn't traveling for business anymore, except me (and I will travel about 20% as much as I did). Realize that's anecdotal, but the chart seems to agree.

---

Same here - our business travel was heavily restricted, but allowed. Not announced, but looks like it will get 99% cancelled again.

For personal, we booked dirt cheap LUV tickets for August back in the spring. We knew it would probably get cancalled (no fees) and we will decide in a few weeks, but 99% sure we will cancel it also. I am fine with flying, but when most places are shut down, why spend the money on a vacation?

$30,000 Millionaire said:

---

McInnis 03 said:

---

That's it kids, looks like SPY is never coming back.

---

It seems like it's over.

---

I wouldn't be surprised to see 325 today and 310 by end of the week, it seems like the bears are giving up and the bulls are spiking the football

Word of warning. SPY gap fade play is right on the cusp of being a full position go, and with VIX being close to 30, the volume really is about where it needs to be in order to play a full gap fill.

Yes this. Always be careful when it seems too obvious! I'm looking to sell some today, not buy tbh...

topher06 said:

---

corndog04 said:

---

Updated YoY TSA passenger counts. Pretty sharp down tick compared to trend yesterday.

---

Not sure how airlines survive this. Everyone I know that was traveling for business frequently isn't traveling for business anymore, except me (and I will travel about 20% as much as I did). Realize that's anecdotal, but the chart seems to agree.

---

I think it will be interesting to see what level we get back to once business travel does "turn back on" at some point. My company is still only allowing business critical travel but in Q4 its supposed to open back up...it will be less than it was but it will happen a lot more than it is today

McInnis 03 said:

---

Word of warning. SPY gap fade play is right on the cusp of being a full position go, and with VIX being close to 30, the volume really is about where it needs to be in order to play a full gap fill.

---

I was thinking it wasn't...but I was looking at ES, which is well over 70k, VIX is only ~25 or so. I may do a "50%" or something...probably won't, I'm just watching these days.

59 South said:

---

Almost fully agree... but I think they will 'survive' only because of bail outs. Also expect some consolidation. I don't see how it will ever be the same though for many reasons:

• A section of the global population will be forever scarred and never be able to think the same, whether you agree or not. There will be people who will never fly again or just severely limit how much they do.
• Companies will realize just how much money they have historically wasted on travel. The cat is out of the bag on remote working, etc. Technology advances will continue to embrace this.
• 'Green' agendas will latch onto this crisis and use it to further push the environmental benefits of reduced travel.

That being said, I could see a blip of travel surge due to pent up leisure travel backlog. My god, I personally want to get on an airplane so bad right now, and I'd pay a premium to do so.

---

Good point on business travel forever changing. We were forced to adapt and it worked great. The large company I work for is not tech savvy, but adjusted well. Higher ups like traveling with an expense account, but realized saving the money and planning and hosting meetings the same day with people from various parts of the country just worked too well.

I am about to host a virtual call with people from various states that was planned yesterday. With travel, it would have been planned probably 2-3 weeks out.

There goes SIG

Curious on when it opens back up as well - we announced that all internal company meeting/events that involve travel or groups are cancelled through April 2021. If needed, they will be hosted virtually. That could be extended. Some of it has to do with how far out they have to plan and coordinate events and also how long this is expected to last.

gig em 02 said:

---

$30,000 Millionaire said:

---

McInnis 03 said:

---

That's it kids, looks like SPY is never coming back.

---

It seems like it's over.

---

I wouldn't be surprised to see 325 today and 310 by end of the week, it seems like the bears are giving up and the bulls are spiking the football

---

yes. I sold my hedge 320C at open this morning. Seems like a smart move looking at the tape now. Occasionally I make a smart decision, but not often.

GtownRAB said:

---

Curious on when it opens back up as well - we announced that all internal company meeting/events that involve travel or groups are cancelled through April 2021. If needed, they will be hosted virtually. That could be extended. Some of it has to do with how far out they have to plan and coordinate events and also how long this is expected to last.

---

I'm with a major O&G and we cancelled almost everything until Sept 30th, 2020 but I won't be surprised if this gets extended

NET's first 10 minutes every day are such a beating. Is some investment fund unloading every morning?

Yep same here except we have people in 5 different continents pulling it off now. The savings potential is drastic and obvious. My theory is that the 'kick off' boondoggle meetings will continue to happen in person where everyone gets to know each other and build relationships. That will break the ice enough to make the regular travel unnecessary except for periodic stuff. So at least 50% reduced on average?

Now if only we can all force our law firms and other consultants to stop unnecessary traveling just so they can bill travel hours.

Quote:

---

Fortinet Cut to Neutral From Buy by Goldman Sachs

8:25 am ET July 15, 2020 (Dow Jones

---

FTNT

Prognightmare said:

---

Quote:

---

Fortinet Cut to Neutral From Buy by Goldman Sachs

8:25 am ET July 15, 2020 (Dow Jones

---

FTNT

---

Yeah, but they targeted $140 which is above current trade price. I got into some cheap 125/130 call spreads at the bell.

A few to look at today: DRI, EAT, and INN. I got in a little on EAT $25 calls. It broke upwards today abovr the 8 and 21 EMAs and I think has potential to get to or past its upper BB at $26.20 in a relatively short period of time.

It is really tough to guess numbers. My company has employees all over, so the main point of contact is usually local/driving unless it is a rural area. Our technical specialist will continue to travel. It is more coprorate it will be tough for. They need to travel, see their employees and customers, and will continue to do that. If they are more in an office virtual meetings, people might realize they are not as needed as we thought. You could cut numbers and expand their areas. They also love that travel/expense budget, it won't go away easy.