Posts Tagged ‘DHT’

Thrill-Ride Thursday

Is this fun or what?!

I love it when a plan comes together and we have been nailing these crazy market moves.  I have to admit Cramer had me worried on Tuesday night as we were short into the evening as the master said: "Let this be a lesson to all investors: Watch for these kinds of bull-market pullbacks, because they often precede a continued move higher…  All they needed was a catalyst, any old excuse, and that’s where consumer confidence comes in."  Fortunately, Jim's jubilation was short-lived (and this is a great flip-flop on last night's show) and we were able to press our shorts in the morning off my premise that the Consumer Confidence was BS that would be quickly reversed and we made enough in yesterday's decline to finish the day with some bullish speculation.  I don't mean to pick on Cramer but, as David Fry wisely points out in his chart, it would be nice if he just admitted he has no clue and people should just be cautious. 

While we are still mainly in cash and just having fun betting against Cramer's sheeple, we went a little bullish on the Dow for the overnights (covering our long DIA puts) on the assumption that Obama would probably not have touted economic progress yesterday if they weren't expecting some good data backing it up.  As I said to members before we even got the speech at 2:18: "It’s not the kind of thing you’d want to say if you knew there was some bad data coming up so I have to assume that we’re going to get an upward revision to Q1 GDP on Friday or, in the very least, jobless claims should be below 600K tomorrow so I don’t want to be short overnight."

One thing we did short is oil and we loaded up on the USO puts as they climbed higher ahead of an OPEC meeting that we expected would yield nothing but sound bites.  That went about as expected and we had great fun in member chat this morning already shorting the oil futures as they raced up to a failed test of $64.  I am really happy with our short oil position as it turns out we can add OPEC to the list of nations that are counting on other nations to pull them out of a…
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Which Way Wednesday – Fed Edition

Fed days are always great fun.

Although it's just the minutes and not a policy decision, often the minutes of the Fed meeting move the market more than the decision itself.  Sure a cynic may say that the reason for this is that the minutes are less meaningful and they are just an excuse for manipulators to create whatever market reaction suits their needs but we are no cynics here are we?  On the last Fed Minutes Day (April 8th) the market opened up 1%, then fell 1% on a poor oil report at 10:30, then rose 1.5% by 1pm, then dropped 1.5% through the minutes until 3pm when it amazingly recovered and we finished the day up about .75%.  Isn't that exciting?!?

It sure was exciting for us as we had grabbed the DIA $78 puts at 1:10 as the market rallied for no particular reason and we caught the dead top of a 150-point drop for a huge win.  We'll be looking for opportunities like that today but we're not going to force it – that opportunity came because the markets were up irrationally so it was easy to play.  My quick notes (at 2:03) from the last Fed release were:  "Credit not easing.  Concern over assets they are buying under TALF.   Serious downward GDP forecast to -1.3% for 2009 AND 2010 Continuing deflation risk.  Economic activity fell sharply and should continue to contract.  Uptick in housing starts was a glitch, not a trend. Energy and Ags now being affected by slowdown where they were not before."  As I concluded at the time "Not exactly rally fuel."

Nonetheless, the next day we jumped 250 points to 8,083 as "green shoots" were seen in the Fed's language.  That was April 9th and we spent the rest of the month struggling below the 8,100 mark but punched over at the end and here we are, up 10% from the last minutes and looking for even greener shoots to break us over our 40% lines.   What gave us a boost on April 29th was the FOMC non-decision where the Fed said: "Information received since the Federal Open Market Committee met in March indicates that the economy has continued to contract, though the pace of contraction appears to be…
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Zero Hedge

Iran Suffers Most Daily Death Toll Since COVID-19 Outbreak Began; NY Adds 3 More States To 'Mandatory Quarantine' List: Live Updates

Courtesy of ZeroHedge View original post here.

Summary:

  • NY releases latest numbers, adds 3 more states to quarantine list
  • Trump touts COVID-19 mortality rate improvement
  • GOP moves to test all convention attendees
  • Worker 'revolt' at University of Georgia
  • Beijing reports 8 foreign cases
  • South Korea reports 40+ new cases
  • Melbourne enters 6-week lockdown
  • India passes 700k cases
  • Iran sees record jump in deaths
  • South Africa tops 200k

* * *

Update (...



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Phil's Favorites

Up and Down

 

Up and Down

Courtesy of 

This stat from @SentimentTrader blew me away:

“The S&P 500 fund, SPY, has been up at least 0.5% for 5 straight days. That’s tied for the longest streak since its inception.”

I wasn’t taken aback because of how strong the markets have been recently, but that streak of five days sounded really small to me. I almost couldn’t believe it was right. But after looking at the data, the shock wore off.

The S&P 500 has gained >0.5% on 28% of all days (going back to 1993), so the likelihood of...



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Biotech/COVID-19

Is the COVID-19 pandemic cure really worse than the disease? Here's what our research found

 

Is the COVID-19 pandemic cure really worse than the disease? Here's what our research found

The economic impact of coronavirus restrictions can also take a human toll. mladenbalinovac via Getty Images

Courtesy of Olga Yakusheva, University of Michigan

The Research Brief is a short take about interesting academic work.

The big idea

The coronavirus pandemic catapulted the country into one of the deepest recessions in U.S. history, leaving millions ...



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ValueWalk

Error-Ridden PPP Data Show Taxpayer Funds Funneled to the Wealthy & Well-Connected

By Anna Peel. Originally published at ValueWalk.

Yesterday, the Trump administration released a limited collection of data about recipients of Paycheck Protection Program (PPP) assistance. The program has been rampantly mismanaged from the start, allowing big businesses and publicly-traded companies to exploit the program with little transparency or oversight. The data released yesterday has been riddled with errors, raising questions about the PPP’s integrity. All the while, actual small businesses – especially those run by people of color – have been left to struggle or close entirely.

Q2 2020 hedge fund...



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Kimble Charting Solutions

Here's Why QQQ and Large Cap Tech Stocks May Rally Another 10%!

Courtesy of Chris Kimble

The long-term trend for large-cap tech stocks remains strongly in place.

And despite the steep rally out of the March lows, the index may be headed 10 percent higher.

Today’s chart highlights the $QQQ Nasdaq 100 ETF on a “monthly” basis. As you can see, the large-cap tech index touched its lower up-trend channel support in March at (1) before reversing higher.

It may now be targeting the top of the trend channel at (2), which also marks the 261.8 Fibonacci extension (based on 2000 highs and 2002 lows). That Fib level is $290 on $QQQ.

If so, this upside target for $QQQ is still 10% above current prices. Stay tuned!

This article was first written ...



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Chart School

RTT browsing latest..

Courtesy of Read the Ticker

Please review a collection of WWW browsing results. The information here is delayed by a few months, members get the most recent content.



Date Found: Saturday, 14 March 2020, 05:51:16 PM

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Comment: Crash in perspective - its Bad, and not over!



Date Found: Saturday, 14 March 2020, 07:49:29 PM

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Comment: The Blood Bath Has Begun youtu.be/bmC8k1qmM0s



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The Technical Traders

Big Funds to Pull Money OUT of Stocks: 2nd Wave to Hit Economy

Courtesy of Technical Traders

TOPICS IN THIS INTERVIEW:

-Big funds to pull money out of markets.

-Falling dollar to really start to benefit gold

-Gold miners showing signs of life.

-$2,000 gold will change people’s mindsets in gold.

-Gold or silver-backed currency will send metals through the roof.

Get Chris Vermeulen’s Trades – Click Here

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Lee's Free Thinking

These Charts Show COVID 19 Is Spreading in the US and Will Kill the Economy

 

These Charts Show COVID 19 Is Spreading in the US and Will Kill the Economy

Courtesy of  

The COVID 19 pandemic is, predictably, worsening again in much of the US. Only the Northeast, and to a lesser extent some Midwestern states, have been consistently improving. And that trend could also reverse as those states fully reopen.

The problem in the US seems to be widespread public resistance to recommended practices of social distancing and mask wearing. In countries where these practices have been practi...



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Digital Currencies

Blockchains can trace foods from farm to plate, but the industry is still behind the curve

 

Blockchains can trace foods from farm to plate, but the industry is still behind the curve

App-etising? LDprod

Courtesy of Michael Rogerson, University of Bath and Glenn Parry, University of Surrey

Food supply chains were vulnerable long before the coronavirus pandemic. Recent scandals have ranged from modern slavery ...



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Members' Corner

Coronavirus, 'Plandemic' and the seven traits of conspiratorial thinking

 

Coronavirus, 'Plandemic' and the seven traits of conspiratorial thinking

No matter the details of the plot, conspiracy theories follow common patterns of thought. Ranta Images/iStock/Getty Images Plus

Courtesy of John Cook, George Mason University; Sander van der Linden, University of Cambridge; Stephan Lewandowsky...



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Insider Scoop

Economic Data Scheduled For Friday

Courtesy of Benzinga

  • Data on nonfarm payrolls and unemployment rate for March will be released at 8:30 a.m. ET.
  • US Services Purchasing Managers' Index for March is scheduled for release at 9:45 a.m. ET.
  • The ISM's non-manufacturing index for March will be released at 10:00 a.m. ET.
  • The Baker Hughes North American rig count report for the latest week is scheduled for release at 1:00 p.m. ET.
...

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Promotions

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Feb. 26, 1pm EST

Click HERE to join the PSW weekly webinar at 1 pm EST.

Phil will discuss positions, COVID-19, market volatility -- the selloff -- and more! 

This week, we also have a special presentation from Mike Anton of TradeExchange.com. It's a new service that we're excited to be a part of! 

Mike will show off the TradeExchange's new platform which you can try for free.  

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Mapping The Market

How IPOs Are Priced

Via Jean Luc 

Funny but probably true:

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About Phil:

Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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