Huge bull run with crypto-currencies. Out of 5,000 cryptos, only 30 lost money the last 7 days.

[Ricboff]

our college has been sending us updated info. via emails, got like 5 in two weeks. They r getting updated from the Ontario Health Ministry. Look, dont even know where to start here , but this could be a shit show.
a lot of unknowns .[FONT=Open Sans, apple-system, blinkmacsystemfont, Segoe UI, Helvetica Neue, arial, sans-serif] Minimize spread while aggreseively studying the virus (treatments/vaccine/period of infectiouness/onset and duration of viral shedding etc[/FONT] . No effective treatment, no place to quarantine (self isolate is advocated , gl with that), easy transmission , early symptoms r innocuous , screening is not overly accurate, no vaccine available for at least a yr.


Health care professionals r definitely in harm's way. Its been estimated that 4% of healthcare practitioners in China r infected, wtf, that's crazy. 18 of which have died. This virus can kill-- those with compromised immune systems (elderly, medically compromised , the very young) r at greatest risk , but it can kill a healthy person. 53 cases in USA, 11 in Canada from what i read and counting

Public health officials in Ontario have echoed those concerning statements from the CDC posted above.one local hospital has set aside a floor, they r getting ready. Italy, Iran, S Korea have major issues that i'm aware of. Australian PM just stated we likely have a pandemic on our hands





here is some info., sent to me;
http://www.health.gov.on.ca/en/pro/...ronavirus/docs/2019_primary_care_guidance.pdf


https://az184419.vo.msecnd.net/rcdso/pdf/COVID-19_Self-Isolation_Fact_Sheet_EN_2020-02-19.pdf


https://az184419.vo.msecnd.net/rcdso/pdf/COVID-19_Caregivers_Fact_Sheet_EN_2020-02-19.pdf



from the CDC, they r basically updating daily ;

https://www.cdc.gov/coronavirus/2019-nCoV/summary.html

 

[Ricboff]

looks at this, a box of 50 masks are normally $12 or so

https://www.emrn.ca/en/earloop-proc...MIw_LCkt3x5wIVCpSzCh2N6wF1EAQYBCABEgKI-fD_BwE

https://72hours.ca/products/astm-le...MI4pb3rtzx5wIVhZOzCh3W8A9CEAQYBCABEgKzjfD_BwE


so sick

 

[Ricboff]

'Goldman Sachs (NYSE:GS) equity strategists wrote in a note on Thursday that they expect no profit growth for U.S. companies in 2020 as they update their earnings model to incorporate the likelihood that the virus becomes widespread.'

200 sma MUST MUST hold. Algos to go nutty. Going to be a WILD day on the markets today

look at the chart on XOM, fuckin wow. A decade low.

 

[stomie]

https://www.vox.com/2018/4/24/17275202/bitcoin-scam-cryptocurrency-mining-pump-dump-fraud-ico-value

 

[Ricboff]

i know this is a gamblign forum, from a trader's standpoint anyone considering catching a falling knife INTRA-DAY be careful, gambling. Let the candle form, let the dust settle, just sayin'. I think one of 2 things happen today, JUST an opinion; straight vertical drop yet another long red candle on a gap down (this would be telling) OR a reversal PPT to the rescue. A close ABOVE 3108 on the e-mini's would be good for overnight into friday

 

[raiders72]

We're back.

 

[PatsFan1283]

Fed was on its way to 0 bound within 12-24 months either way but that schedule will get pushed up now. CME saying 65% chance of 3 cuts this year now, up from 1.5 being the average expectation last week.

 

[PatsFan1283]

'Goldman Sachs (NYSE:GS) equity strategists wrote in a note on Thursday that they expect no profit growth for U.S. companies in 2020 as they update their earnings model to incorporate the likelihood that the virus becomes widespread.'

200 sma MUST MUST hold. Algos to go nutty. Going to be a WILD day on the markets today

look at the chart on XOM, fuckin wow. A decade low.

Plunge protection team will have to step in similar to Dec '18, otherwise you're getting a 1987 scenario at best.

 

[PatsFan1283]

On a lighter note and more thread related, this guy paid 4.6 million to have lunch with Buffet to convince him about the future of BTC.

https://www.bloomberg.com/news/arti...t-lunch-turns-into-dinner-for-crypto-faithful

Unfortunately you can't teach an old dog new tricks.

 

[Ricboff]

historically 15% is about the where a bounce occurs, a bounce that may be very short term , nonetheless just sayin' (we opned at that level)

on the ES chart -SEVEN red candles, severe vertical drop ..not stable. Stale red light maybe forming, the candle for the day MAY end as a pin bar with a long tail; bullish , and is SEVERELY oversold.IF and only IF the candle is presenting as is at 3:50pm . Who knows what the afternoon brings, lol. A few days ago a similar candle was forming but the afternoon was a selloff, we shall see

the candle that's forming on the SPY , of course, also bullish

gold, silver are getting hammered, bizarre




XOM

1 decade monthly

a DOW component that is forming a decade low and is in free fall. Unlike some of its peers, XOM has not branched out, in fact doubled down on gas/oil...hmmm

 

[PatsFan1283]

The precious metals going down with the rest makes sense, it does this in deflationary environments. It isn't immune to selloffs.

When it rises is when the inflationary pump priming takes place and assets are supported by all the stimulus. That's how '00/'08 went.

Atleast that is how it works in theory, we'll see this time around.

 

[Ricboff]

its beating today despite a punished USD is surprising


'The fundamentals of the U.S. economy remain strong. However, the coronavirus poses evolving risks to economic activity. The Federal Reserve is closely monitoring developments and their implications for the economic outlook. We will use our tools and act as appropriate to support the economy.'


Statement from Federal Reserve Chair Jerome H. Powell

- Fed trying to calm the market before the weekend, let's see how she closes

 

[PatsFan1283]

Powell always seems to do that of late, doesn't he? He's always very measured with his language/response but really he brings the hammer when necessary. Rate cuts and QE/repo market stuff recently. And judging by the latest CME data, seems like markets are onto that now so he better deliver.

Now saying 50 basis point cut in 3 weeks and around 4-5 by Dec.

Addicts need their crack, detox ain't fun.

 

[Ricboff]

IF this virus leads to dramatic economic damage and into recession, what will deficits look like across N America? what a shit show. But its like anyone cares about deficits anymore

 

[PatsFan1283]

I think we'll just follow a lot of the measures BOJ/ECB have taken, we were headed that way anyway but we'll just get there sooner.

Negative rates, buy more bonds, buy stocks eventually maybe, do some other shit that a layman like myself hasn't even thought of.

But that is more of a worst case scenario.

They will do that before real deflation though I think, the debts are just too big (federal, consumer, state, local, auto, housing, education, all of it)

 

[Ricboff]

historically 15% is about the where a bounce occurs, a bounce that may be very short term , nonetheless just sayin' (we opned at that level)

on the ES chart -SEVEN red candles, severe vertical drop ..not stable. Stale red light maybe forming, the candle for the day MAY end as a pin bar with a long tail; bullish , and is SEVERELY oversold.IF and only IF the candle is presenting as is at 3:50pm . Who knows what the afternoon brings, lol. A few days ago a similar candle was forming but the afternoon was a selloff, we shall see

........................




probability is on the side of either an inside candle monday or a higher high and higher low. VERY good candles to close.

 

[Ricboff]

cheersgif

realized gains are more fun than paper gains. The VIX is at levels not seen since 2011, so caution.

volume to DECREASE as the selling abates. May want to test midway down friday's ES candle OR the bottom of it over time. MUST MUST hold, a loss of that will trigger a shit load of stops

teh gap on the VIX will ultimately fill,........ the VIX fills its gaps

 

[raiders72]

March 2010: 1 bitcoin = $0.003

March 2020: 1 bitcoin = $8,850

 

[raiders72]

 

[Ricboff]

cheersgif

realized gains are more fun than paper gains. The VIX is at levels not seen since 2011, so caution.

volume to DECREASE as the selling abates. May want to test midway down friday's ES candle OR the bottom of it over time. MUST MUST hold, a loss of that will trigger a shit load of stops

teh gap on the VIX will ultimately fill,........ the VIX fills its gaps

volatility reigns .....lets see the candle at the close