Posted on 03/25/2020 5:09:48 AM PDT by John W
Of course.
Nice timing.... at 7:13am Central, Dow Futures are actually slightly up....
Futures back up to slightly positive levels.
Today will be short-seller day. It would not surprise me for the Dow to drop by 900+ today. That seems to be the prevailing pattern.
Yep. he question is, how much will it go down. This sort of thing is always a two steps forward, one step back thing. Or one step forward, two steps back. ;)
Until 1) We know when we are going back to work and 2) how businesses and consumers will spend and invest when we do re-open (and the longer this goes, the less they will), stocks will continue the trend down, possibly by a lot. Even with this big decline, P/E ratios on a normalized basis are not high. And who knows if we get back to normal anytime soon.
The Soros types and the other short-sellers will slither in and drop it by 900+.
Gas falling further here, one location 1.08/gal. Cov-19 swimming in the water.
Amazon employees test positive, several locations.
Combination of shorts as well as those locking in gains. There is a lot of uncertainty from here on where earnings will shake out on the back end of this.
“Buy on rumor, sell on facts”
$1.29 in Joplin. 99 cents in OKC. Cheapest I could find on Gas Buddy.
If the market tanks and these two go up, I'll cash in and buy back more on the next rebound with the profits. The government will make about three cents in taxes when I sell. That will go a long way toward repaying the recovery stimulus.
You want to short about three days after this “15 day “ pause.
That is when the case count will go back up. The markets will scream, “You promised!!!!” Like a six year old girl.
Then it will drop another 10%.
Will you let me know how it works out FRiend? I’ve been mulling over trying to use SOQQ to make a few bucks to replenish some of my portfolio losses.
So of course it opens up.
Yeah, definitely rallying at the moment. We;ll see how long the stimulus momentum carries on.
There may be others which perform better, but I've had these two for a long time as a sort of portfolio insurance, though clearly not enough when TSHTF as it has done recently. As you may know, they do not allow you to do short sales with IRAs, but no prohibition whatsoever against buying reverse index funds.
Do you only hold SQQQ for the part of the day and sell it off before the end of the trading day? I’ve been reading up on leveraged ETFs and most say not to hold overnight as a general rule.
FWIW, I have both IRA and regular brokerage accounts.
In a non-IRA account, as you may know, three or more orders which get filled the same day will trigger the pattern day trader rule and cause the government Nazis to suspend your account. They try to tell you this is for your own protection, but it is really for the protection of the professional day traders since is doesn't apply to accounts worth over $25,000. They really do not like little guys like me picking up an occasional $50, $100 or $200 a week (under normal conditions) or per day (under current conditions).
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