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02/24/2020 Live Update

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JFR
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Re: 02/24/2020 Live Update

Post by JFR »

The little annoyances. Gonna dump my gold ETFs before the close.

ES. SPY. Scalps and day trades only.

2020-02-24_1209.png
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Trades with cats
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Re: 02/24/2020 Live Update

Post by Trades with cats »

Gold I saw a tweet that the Bank of International Settlements had OKed some sort of gold selling this afternoon.

Disclosure- I do not follow currency markets. Common sense says if you are a lesser developed country dependent on tourism and labor intensive manufacturing for foreign currency (Thailand maybe) you are or will be forced into raising US dollars to settle trade bills and US Treasuries and gold are usually both large items on the old balance sheet.
ccash04
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Re: 02/24/2020 Live Update

Post by ccash04 »

Amazingly, SPCE is up! Remarkable really, that kind of activity makes me think overall the market should drop a lot further to get rid of excess capital.
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Al_Dente
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Re: 02/24/2020 Live Update

Post by Al_Dente »

JFR wrote:The little annoyances. Gonna dump my gold ETFs before the close....
THANKS boss for always updating us on gold. I appreciate
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
Daniel
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Re: 02/24/2020 Live Update

Post by Daniel »

Fieldydwb wrote:more people die from the flu? Not relevant.
I don't understand, I thought the Corona virus IS a type of flu. But the larger point is a good one, and I just read a great piece by Danny Riley (Mr.TopStep) or someone on his site, that it is the SUPPLY CHAIN DISRUPTION, and not the mortality numbers themselves, which is so alarming to the financial markets. Especially in a global just-in-time trade manufacturing environment. :|
Daniel
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Re: 02/24/2020 Live Update

Post by Daniel »

ccash04 wrote:Amazingly, SPCE is up!
People wanting to leave Earth. Now THAT is panic.
:)
Daniel
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Re: 02/24/2020 Live Update

Post by Daniel »

QQQ, SPY testing the 5min 20ema now, from ABOVE. Final half hour could be volatile. :o
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JFR
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Re: 02/24/2020 Live Update

Post by JFR »

Al_Dente wrote:
JFR wrote:The little annoyances. Gonna dump my gold ETFs before the close....
THANKS boss for always updating us on gold. I appreciate
You are welcome. It's a must watch, Pasta Boss.

My swing trade biases on these fellas. Flat on all of them. GLD up but I cannot hold overnight. Same with TLT. Holding some '"safe" ETFs only, bond related.

2020-02-24_1226.png
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QED
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Re: 02/24/2020 Live Update

Post by QED »

JFR wrote:The little annoyances. Gonna dump my gold ETFs before the close.
/GC has a topping candle and a Demark Sequential count of "7" ...
.
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Cobra
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Re: 02/24/2020 Live Update

Post by Cobra »


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JFR
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Re: 02/24/2020 Live Update

Post by JFR »

QED wrote:
JFR wrote:The little annoyances. Gonna dump my gold ETFs before the close.
/GC has a topping candle and a Demark Sequential count of "7" ...
.
I am out of the gold ETFs for now. Gonna have to watch and probably play some ES overnight. Have a good afternoon, Everyone.

2020-02-24_1241.png
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Heck
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Re: 02/24/2020 Live Update

Post by Heck »

OXY Target + 70 %
From 39.48 edit to 67
+ 7.94 % Dividend

59.85 % Margins
Last edited by Heck on Mon Feb 24, 2020 5:54 pm, edited 2 times in total.
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Cobra
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Re: 02/24/2020 Live Update

Post by Cobra »


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Cobra
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Re: 02/24/2020 Live Update

Post by Cobra »

Well, guess that's it for today. Here's what Tuesday looks like: https://stockcharts.com/public/1684859/ ... /533449374

Thank you guys, I'll see you in another thread soon.

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Al_Dente
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Re: 02/24/2020 Live Update

Post by Al_Dente »

maybe that's a little intraday inverse H&S with the neckline near 3250
not confirmed until it busts the neckline
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
Heck
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Re: 02/24/2020 Live Update

Post by Heck »

Daniel wrote:
Fieldydwb wrote:more people die from the flu? Not relevant.
I don't understand, I thought the Corona virus IS a type of flu. But the larger point is a good one, and I just read a great piece by Danny Riley (Mr.TopStep) or someone on his site, that it is the SUPPLY CHAIN DISRUPTION, and not the mortality numbers themselves, which is so alarming to the financial markets. Especially in a global just-in-time trade manufacturing environment. :|
WHO say flu kills 290,000 to 650,000 people per year globally

29 million flu-related illnesses in the United States this year compared to 15 confirmed cases of coronavirus

https://www.msn.com/en-us/health/medica ... r-BB10iqja

Southeast Asia competing with China for title of world’s next manufacturing hub, including India, Indonesia, Malaysia, Thailand and Vietnam—coined the “MITI-V”

Foxconn plants in Brazil, Europe, Houston, Mexico, Osaka, Taiwan, WI pending

May be rethinking Wuhan expansion

Tim Cook speciality logistics

'Could Central Bankers Use Coronavirus as the Scapegoat to Deflect Blame for the Next Imminent Global Economic Crisis?' ZH

Economy, new products, trade and overbought market breadth correcting for some time up into climax today

https://stockcharts.com/public/1684859/ ... /585389789
Last edited by Heck on Mon Feb 24, 2020 6:18 pm, edited 1 time in total.
Heck
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Re: 02/24/2020 Live Update

Post by Heck »

Charlie Bilello

@charliebilello
S&P 500: this is the 26th correction >5% since the March 2009 low. They all seemed like the end of the world at the time. $SPX

https://twitter.com/charliebilello/stat ... 16583?s=20
Fieldydwb
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Re: 02/24/2020 Live Update

Post by Fieldydwb »

Daniel wrote:
Fieldydwb wrote:more people die from the flu? Not relevant.
I don't understand, I thought the Corona virus IS a type of flu. But the larger point is a good one, and I just read a great piece by Danny Riley (Mr.TopStep) or someone on his site, that it is the SUPPLY CHAIN DISRUPTION, and not the mortality numbers themselves, which is so alarming to the financial markets. Especially in a global just-in-time trade manufacturing environment. :|
It's not. It's completely different. There's a lot of "The flu has more deaths.." comments going around the internet and twitter-verse, those types of comments are rightfully getting squashed as meaningless. It's completely different and to say that is somewhat ignorant to the overall severity of this specific virus and its potential effects on the health care systems and further on the world economy re supply chains etc etc. The facts are that it will be a major burden on the health care systems of any countries that it becomes pandemic in as 15% of cases require 2-3 weeks of intensive care (intubations etc). Not that any of that is super relevant here re this is market talk but yeah, I'd just take heed thinking this will go away and say its Bullsa! Ramifications are much greater. If it really was that the flu was a greater risk, well, you wouldn't see the response China did. They wouldn't shut down their economy for that. So yeah...there's that. Maybe traffic deaths will be less due to everyone staying in as someone else said. Who knows. I was just stating a fact...zero personal attack..not sure why I got that in response..

If it was similar to the flu, they'd just let it spread around. But it's not. A large % require intensive care whereas flu does not. You'd overwhelm the systems if this spread out too quickly. Hence, the appropriate responses by countries like Italy and China. The WHO is even suggesting China's strong arm tactics are quite effective and suggest other countries adopt similar. Italy is doing just that. "It's just the flu" is misleading. It's not. The fact that potentially 15% of the population may need hospital care for 2-3 weeks or longer is not tenable and will have drags on economic factors.
Daniel
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Re: 02/24/2020 Live Update

Post by Daniel »

Fieldydwb wrote:
Daniel wrote:
Fieldydwb wrote:more people die from the flu? Not relevant.
I don't understand, I thought the Corona virus IS a type of flu.
It's not. It's completely different....
I was just stating a fact...zero personal attack..not sure why I got that in response.
Your wording was ambiguous. I personally didn't read it as the individual’s comment being dismissed rudely as “irrelevant”, but rather as general Flu statistics not being an appropriate standard to measure Corona social medical and economic harm--and hence not relevant. But I can see the ambiguity.

:)
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