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04/06/2020 Market Recap

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Cobra
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04/06/2020 Market Recap

Post by Cobra »

Follow through wanted. Tinted area is the 100% measured move target, which happens around Fib 61.8%. Well, don't bother, it's just a dream. Someone wakes me up please!
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Cobra
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Re: 04/06/2020 Market Recap

Post by Cobra »

SUMMARY:

Late uptrend day so didn't treat it as an uptrend day. The day went mostly flat until the last 30 minutes, a typical uptrend day close, too bad, I couldn't foresee that.

NOTE:

N/A - explained how I'd judge uptrend day here (viewtopic.php?f=2&t=3954&p=280969#p280969).

Wrong but no losses - possible late confirmation of an uptrend day so I'd treat it as a range day which unfortunately didn't work today (viewtopic.php?f=2&t=3954&p=280982#p280982).

Right but it took much longer than I expected to make the breakout - called more up here (viewtopic.php?f=2&t=3954&p=280992#p280992).

Right - called the pullback would be bought here (viewtopic.php?f=2&t=3954&p=280998#p280998).

N/A - just a reminder (viewtopic.php?f=2&t=3954&p=281003#p281003).

No conclusion drawn from the close.
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DISCLAIMER:

The trading log above is meant for myself only which main purpose is to help improving my market sense.
  • My blah blah about how the market would go in the next dozens of minutes everyday in this forum, is a way to force me to focus on the market, because by speaking loud, if the prediction is wrong, I'd be embarrassed, which of course I'd like to avoid as much as possible.
  • Day trading is not my strongest point. Just for the same pattern, it can repeat frequently on the 5 min chart while on daily chart it may take months to appear once and another month to know whether the idea of trading such a pattern is right or wrong THIS time, so practicing on the 5 min chart is a fastest way to learn to trade.
  • Day trading inevitably would have good days and bad days, it's a part of the game. If I always have good days, it means I'm either lying or already the richest person in the world (then why I'm still trading?), so please don't blame me for making any bad calls. The log is for myself only, not meant to be followed.

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BullBear52x
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Re: 04/06/2020 Market Recap

Post by BullBear52x »

Cobra wrote:Follow through wanted. Tinted area is the 100% measured move target, which happens around Fib 61.8%. Well, don't bother, it's just a dream. Someone wakes me up please!
Wake up Cobra, we will kick the virus ass, this is real deal. bulls usually sleep better with this up >50% :D
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Cobra
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Re: 04/06/2020 Market Recap

Post by Cobra »

BullBear52x wrote:
Cobra wrote:Follow through wanted. Tinted area is the 100% measured move target, which happens around Fib 61.8%. Well, don't bother, it's just a dream. Someone wakes me up please!
Wake up Cobra, we will kick the virus ass, this is real deal. bulls usually sleep better with this up >50% :D
:mrgreen: I hope you're right. :D

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JFR
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Re: 04/06/2020 Market Recap

Post by JFR »

ES 5. Up above the pivot at 2700.

2020-04-07_0059.png
Charts posted are not recommendations. They are just a sharing of information.
Heck
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Re: 04/06/2020 Market Recap

Post by Heck »

SP.1 Jun Fut SELLING < 2,745.00

Two ISEE Index PUTS for every call = DOWN DOWN

$TRIN > 1 = DOWN
Heck
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Re: 04/06/2020 Market Recap

Post by Heck »

Corona Chapter 11 Market Meme

Market participants have generally not understood the severity of the crisis and how it impacts the intrinsic value of common equity shares.

Much confusion arises because advisers, analysts, financial media commentators, stock pundits and traders may not appreciate the difference between market value and intrinsic value of common equity shares.

"Social distancing" - both mandated and voluntary - may remain a major part of the social and economic landscape in the US and all over the world.

Corporate debt as a percentage of equity is at all-time highs.

Second quarter US GDP may plunge by over - 30%, the largest quarterly decline in history.

Unemployment may peak at over 30%. This is higher than the peak of the Great Depression.

GDP contraction over - 30% in the second quarter may coincide with price declines in many products and services, leading to a collapse in revenues at many publicly-traded companies on the order of - 40% or more.

During the course of 2020, most publicly-traded companies may face serious insolvency risks.

This crisis is different: Severe destruction of intrinsic value means that the market value of most common equity shares will not "bounce back" to former levels any time soon.

Dividends of many companies many be eliminated and or severely slashed for both economic and political reasons.

Most common equity shareholders face severe insolvency risks. Many common shareholders will become severely diluted in recapitalizations.

Owners of common equity shares may experience severe loss of both intrinsic value and market value.

https://seekingalpha.com/article/433632 ... his-crisis
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