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06/23/2020 Live Update

Re: 06/23/2020 Live Update

Postby JFR » Tue Jun 23, 2020 2:19 pm

ES 5. Sharp pullback to a lower support level.


2020-06-23_1118.png
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Re: 06/23/2020 Live Update

Postby BullBear52x » Tue Jun 23, 2020 2:48 pm

te_fern wrote:BB52, did you say you're off for 2 weeks? Are you going somewhere fun??

No, all big vacations got cancelled.
I meant to say boring sideways, it has been for two weeks now.
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Re: 06/23/2020 Live Update

Postby BullBear52x » Tue Jun 23, 2020 2:51 pm

failed on both side, up or down, welcome to no man's land. :lol:
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Re: 06/23/2020 Live Update

Postby BullBear52x » Tue Jun 23, 2020 3:05 pm

The power that be continue their overnight buying to stay afloat, hope they don't sleep on the wheels. it will be very slippery.
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Re: 06/23/2020 Live Update

Postby BullBear52x » Tue Jun 23, 2020 3:21 pm

bulls climbing the wall of worry, gaped up just to hold on the cliff.
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Re: 06/23/2020 Live Update

Postby JFR » Tue Jun 23, 2020 3:22 pm

AAPL, CSCO and UNH. Leading Dow stocks. Still lots of buyers. "Party 'til the bomb drops." "And the band played on ..." Crash coming? Could be.
Or the new normal just carries on and carries on. The economy adjusts and carries on. The wealth moves around, but doesn't grind down to dust. Just in my opinion.


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Re: 06/23/2020 Live Update

Postby BullBear52x » Tue Jun 23, 2020 3:23 pm

Today a closed with Doji and TRIN >1 will not hold up well overnight. so....be careful out there.
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Re: 06/23/2020 Live Update

Postby jademann » Tue Jun 23, 2020 3:30 pm

I have three short positions which I am holding with little fear at this point. Calling these little low volume gap up rallies nonsensical.
Oil looks like it is done also after rallying from -40 to +40 :)
AAPL now $1.6T capitalization :)
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Re: 06/23/2020 Live Update

Postby Cobra » Tue Jun 23, 2020 3:41 pm


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Re: 06/23/2020 Live Update

Postby JFR » Tue Jun 23, 2020 3:42 pm

The well-known phrase "interminable boredom punctuated by moments of terror" comes to mind. Not so much for day traders and scalpers in the market, quick in quick out, but more for long term holders.

The phrase certainly applies to soldiers, medics, pilots and fire fighters amongst others. Yes, even poker. Apparently it originated in WWI.

This appears to have originated in the First World War, of which long, drawn-out trench warfare was a defining aspect, especially of the western front.

From a summary of Guy's Hospital Gazette (1914):

The best definition I have heard of modern warfare is, “Months of boredom punctuated by moments of extreme terror."

From a snippet of The New York Times Current History of the European War (1915):

Since then we have been doing infantry work in the trenches. We have been out of work on our trenches; only shrapnel and snipers. Some one described this war as "Months of boredom punctuated by moments of terror." It is sad that it is such a bad country for cavalry. Cavalry work here against far superior forces of infantry, like we had the other day, is not good enough.

The same phrase was used of the First World War such as The Fight for the Future (1916) by Edward Arthur Burroughs (Bishop of Repon)

"Months of boredom punctuated by moments of terror" : such is a description of life in the Navy which a naval lieutenant quotes as exactly fitting the facts. And one could quote many letters giving a similar impression of life in the Army, as it affects the type of man I have in mind, though here the ingredients are apt to be mingled in very different proportions, and the "moments of terror" may be ...


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Re: 06/23/2020 Live Update

Postby Cobra » Tue Jun 23, 2020 3:54 pm


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Re: 06/23/2020 Live Update

Postby Cobra » Tue Jun 23, 2020 3:55 pm

Well, guess that's it for today. Here's what Wednesday tomorrow looks like: https://stockcharts.com/public/1684859/ ... /533449381

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

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Re: 06/23/2020 Live Update

Postby jademann » Tue Jun 23, 2020 7:27 pm

TVIX being delisted.
They know a crash is coming and they are taking it away before it goes up like a rocket.
https://www.bloomberg.com/news/articles ... eup-revamp

Also affected are:
VelocityShares 3x Long Gold ETN (UGLD)
VelocityShares 3x Long Silver ETN (USLV)
VelocityShares 3x Inverse Gold ETN (DGLD)
VelocityShares 3x Inverse Silver ETN (DSLV)
VelocityShares 3x Long Natural Gas ETN (UGAZ)
VelocityShares 3x Inverse Natural Gas ETN (DGAZ)
VelocityShares Daily Inverse VIX Medium Term ETN (ZIV)
VelocityShares VIX Short Term ETN (VIIX)
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