The Investment Thread (4 Viewers)

[Saint_Ward]

Looks like the markets may have found a floor for now. We shall see.

Corresponds to this bit in the news too..

JNJ Chief Scientific Officer on vaccine: Good results in preclinical trials speeding up process

Johnson & Johnson moved the start of human trials for its potential coronavirus vaccine to begin in July. Johnson & Johnson Chief Scientific Officer Dr. Paul Stoffels joins Yahoo Finance’s On The Move panel to discuss.

finance.yahoo.com

 

[efil4stnias]

Looks like the markets may have found a floor for now. We shall see.

Corresponds to this bit in the news too..

JNJ Chief Scientific Officer on vaccine: Good results in preclinical trials speeding up process

Johnson & Johnson moved the start of human trials for its potential coronavirus vaccine to begin in July. Johnson & Johnson Chief Scientific Officer Dr. Paul Stoffels joins Yahoo Finance’s On The Move panel to discuss.

finance.yahoo.com

i hope you are right....but it was heavy negative momentum all morning. Accelerated around noon when normally buyers show up...that didnt.

 

[bclemms]

i hope you are right....but it was heavy negative momentum all morning. Accelerated around noon when normally buyers show up...that didnt.

Yep, stocks aren't able to bust through the weakest resistance levels and still taking out support. Usually around 2pm volume gets going for the afternoon. If markets can't rally some this afternoon it could be the beginning of something much bigger. Market is still really overpriced right now. A lot of analysts have been looking for a 10% sell off, so that may be where we the bulls start to fight back.

 

[efil4stnias]

yep just put stop losses on BA and SPG so if they strike, fine by me...means market is tumbling, give me some more cash to sit and look for next move.

Will be interesting to see what happens between 2 and 3pm...specifically if we get any news, pressers and the final 15 min. I would jump at buying at close if we still at this level, but hesitant. However, chances are good that the Admin will attempt to "rosey" it up Friday to keep from another 5% loss.

 

[Charlie Brizzown]

I’m doubling down on SPY puts. Gonna hold until close of market tomorrow at the latest.

 

[bclemms]

I’m doubling down on SPY puts. Gonna hold until close of market tomorrow at the latest.

Not a bad move. I think we're heading to 24500 area where it intersects the 50 day to give that a test. Hopefully that holds or it's a horribly bad signal.

 

[efil4stnias]

Not a bad move. I think we're heading to 24500 area where it intersects the 50 day to give that a test. Hopefully that holds or it's a horribly bad signal.

that would put us in 10% correction territory which many were thinking was coming.

 

[NewOrleansFan]

Spy hit 300 resistance there. If it breaks, I think the next one is 285.

 

[efil4stnias]

pretty big day and a lot to digest here. whew.

BA stop loss struck at 180 not 20 min after putting it in when it was sideways around 183. Broke 180 and went straight down to 168. Closed at 169.

SPG stop loss at 70 still there and indefinite. Figure that will strike tomorrow at open.

accumulating cash and will see what tomorrow brings in way of news and sentiment.

 

[DaveXA]

Down almost 7%. Whew indeed!

 

[bclemms]

I managed to make a few bucks today but was up big this morning. Kept trying to catch a falling knife with AAL. Finally got a bounce at the end.

I screwed up by taking profits too early on UVXY at the opening bell. Bought it at 26 yesterday, sold at 35 this morning, it closed at 46, could have made a ton.

 

[NewOrleansFan]

pretty big day and a lot to digest here. whew.

BA stop loss struck at 180 not 20 min after putting it in when it was sideways around 183. Broke 180 and went straight down to 168. Closed at 169.

SPG stop loss at 70 still there and indefinite. Figure that will strike tomorrow at open.

accumulating cash and will see what tomorrow brings in way of news and sentiment.

I picked up some BA puts at open but sold too early at 178. Didn’t think it corrected all in one day.

 

[bclemms]

I picked up some BA puts at open but sold too early at 178. Didn’t think it corrected all in one day.

I don't think Boeing is done. Actually, I don't think any of the travel and entertainment stocks are done. If Delta is having to raise 10 figure debt and they had a better balance sheet than UA or AAL and they are still burning through cash at $40M per day then the math tells you they are going to have to take on so much debt between now and the time they start turning a profit that they'll be paying off debt indefinitely and that is assuming there is no second wave. Same thing for the cruise stocks. Already know what is going to happen when they start rolling again. Might as well consider them dead in the water until a vaccine.

The people that started clamoring that bankruptcy is off the table for AAL because they increased flights by 25% in July must be the most optimistic people ever.

 

[NewOrleansFan]

The people that started clamoring that bankruptcy is off the table for AAL because they increased flights by 25% in July must be the most optimistic people ever.

I am tempting to pick up some 2021 $1 puts for AAL.

 

[bclemms]

I am tempting to pick up some 2021 $1 puts for AAL.

I'm going for $7 but think I can wait until Labor Day. I had them short from $12 to $8 and shorted a few other airlines but should have been buying puts. Just hate taking money off the table for day trading with volatility so high.