06/17/2020 Live Update

[BullBear52x]

See TRIN secret; a tell tale during consolidation phase.

Nice

the daily TRIN can be faked on last tick of a trade. intraday you can see the real back bone of it.

[Al_Dente]

NOT SHORT TERM
Jeremy Grantham [whose GMO has circa US $118 billion in assets under management]
“This is the real McCoy bubble… crazy wild stuff...”
“The U.S. is now simply playing with fire… sell 100% U.S. equities, buy emerging”
[moments ago CNBC]

[Al_Dente]

Breaking:
HTZ suspends plans to offer stock
still halted at the moment

[Cobra]

Testing day low.

[BullBear52x]

Shhhhhh.......don't jinx it

[Cobra]

Members only update at 3:30 pm
http://www.cobrasmarketview.com/2020/06 ... ay-update/

[JFR]

ES 5. Sharply down beneath the pivot.

[Cobra]

Members only update at 3:50 pm
http://www.cobrasmarketview.com/2020/06 ... ay-update/

[Cobra]

Well, guess that's it for today. Here's what Thursday tomorrow looks like: https://stockcharts.com/public/1684859/ ... /533449387

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

Before the close, please take a little time to vote for me, thanks: https://stockcharts.com/public/1684859/ ... /533449387

[Heck]

One of the precursers of the 2000-2002 Tech crash was the IPO-ing of virtually worthless companies.
That has been well documented.
Problem was that the bubble continued far longer than anyone expected.

Re: what Heck said earlier this morning.
Now HTZ is in bankruptcy court, and it got a delisting notice.
The bankruptcy court on 6/12/20 approved Hertz’s  request to sell up to $1 billion in stock [IPO].
6/15 “Hertz says it expects stockholders to lose all their money in filing for selling more stock”
“Unless a genie or a lamp showed up the collateral pool, we expect the eventual equity value will be zero,” [CreditSights analyst].

"This is what is traditionally called a “canary in a coal mine.” [Pasta]

This is time for government to jump in on their bond no?

Hertz halts plan to sell $500 million in shares after SEC review

[Heck]

RETAIL
JC Penney kicks off liquidation sales at 136 stores this week

When it filed for bankruptcy, it had roughly 860 stores. It also employed roughly 90,000 full- and part-time workers as of February.

BEARYA

[BullBear52x]

today recap:
Gaped up not hold
Mid day push up not hold
closed low of day = tomorrow down side to continue

internals = bad for bulls.

[Heck]

'Here’s why Wall Street is confident the bottom is in for stocks despite rising coronavirus cases'

Hmmm

[Heck]

New lows bro's

Buying new lows

In a downtrend

May be hazardous

To our Assets

[Heck]

Australia Says Border Won't Reopen Until 2021

Bank stocks off

$2 Trillion June Op-Ex

$76 Billion Pension Selling

Blistering Demand In 20Y Treasury Auction

Someone please check stock market's pulse