.

[BCClone]

Apple...... just rising. Every time an analyst challenges that stock it just goes up further.

I sold in the 320s. That was basically the highs from the last year. It is 10% over it's all time highs.

 

[brianhos]

Apple...... just rising. Every time an analyst challenges that stock it just goes up further.

I was offered a job with Amazon, it included a pretty good amount of stock grants.... oops.

 

[bos]

I was offered a job with Amazon, it included a pretty good amount of stock grants.... oops.

probably an oops but hindsight and all that. Not an attractive job?

 

[brianhos]

probably an oops but hindsight and all that. Not an attractive job?

Work from home, again, oops, did not think we would all be doing this. And who knew Amazon stock would be one of the 4 tech companies stocks that are this high flying.

 

[cycloneG]

 

[State2015]

All we're gonna hear about today is how this 'bubble' and pullback today is the fault of the millennials on Robinhood that have started to buy stocks. Do you really think Chad in Wrigleyville is pumping this market up?

Will be interesting to see where the market goes over the next week

 

[brianhos]

All we're gonna hear about today is how this 'bubble' and pullback today is the fault of the millennials on Robinhood that have started to buy stocks. Do you really think Chad in Wrigleyville is pumping this market up?

Will be interesting to see where the market goes over the next week

Fed will rescue it if the market falls too far. We won't see a repeat of 2009 when you saw a second low a few months later.

 

[State2015]

Fed will rescue it if the market falls too far. We won't see a repeat of 2009 when you saw a second low a few months later.

Definitely agree, unless we get a prominent spike in cases this fall. But even then I wouldn't see it dropping farther than the March lows, because at that point we should be pretty close to a vaccination

 

[ArgentCy]

All we're gonna hear about today is how this 'bubble' and pullback today is the fault of the millennials on Robinhood that have started to buy stocks. Do you really think Chad in Wrigleyville is pumping this market up?

Will be interesting to see where the market goes over the next week

Well, not really their fault but they have been the driver. I'm afraid that Barstool sports is going to look like the real face of this faux rally. I watched him go on Fast Money a few times (I thought he was mostly just looking for a story / joke) but he threw all kinds of money in and well, was not a good trader. What has been interesting is that the little guys have never had enough pull to actually make any difference. So where is the real money/depth? That indicates the real problems are much deeper and there is NO liquidity. All the trading floors closed up and let algo's trade.

https://www.marketwatch.com/story/w...s-the-easiest-game-ive-ever-played-2020-06-09

 

[ArgentCy]

Still all kinds of damage has been done to the economy... Airlines how do they have a business model if they can't fill a plane? Restaurants at least all sit down places are in serious trouble. It's hard enough to make money running a restaurant but its virtually impossible now.

Look for a real crash in Commercial Real Estate. This has been long coming but Covid is the proverbial nail in the coffin.

 

[Urbandale2013]

Still all kinds of damage has been done to the economy... Airlines how do they have a business model if they can't fill a plane? Restaurants at least all sit down places are in serious trouble. It's hard enough to make money running a restaurant but its virtually impossible now.

Look for a real crash in Commercial Real Estate. This has been long coming but Covid is the proverbial nail in the coffin.

Do you ever have an opinion that isn’t the sky is falling. Restaurants as a whole are not going away. Specific restaurants will but there will always be sit down restaurants. There’s just to much demand. Will the market look different? Absolutely but we are not going to see a fundamental crash of the economy. Prices and value equations are going to shift but these markets are not going to just disappear.

 

[ArgentCy]

Do you ever have an opinion that isn’t the sky is falling. Restaurants as a whole are not going away. Specific restaurants will but there will always be sit down restaurants. There’s just to much demand. Will the market look different? Absolutely but we are not going to see a fundamental crash of the economy. Prices and value equations are going to shift but these markets are not going to just disappear.

Leverage is a hell of a drug. If things aren't expanding in this environment then they crash. I would love to be bullish but we've created a house of cards. Ask me in 10-20 years and I might be really optimistic.

I am a little mad that my Put Spread entered yesterday on DIA did not get filled.

 

[brianhos]

Time to finish off long term buys for me.

 

[cycloneG]

 

[80sClone]

Should be a great turnaround before long. Let this baby come down a few hundred more SP points and the Fed will announce more action. They will NOT allow the market to approach the March 23 loss.

 

[deadeyededric]

All I know is I should have sold Tuesday.

 

[ArgentCy]

Cramer has been lobbing bombs directly at Barstool and the new investors all night. But he's also pointed out the real problem, how are all these new people pushing these stocks around?

 

[BCClone]

All I know is I should have sold Tuesday.

I liquidated about 65-75% on thursday and friday. Bought a little back on Wednesday. Bought some AAL yesterday. The wednesday stuff is still upside down, but still lower than where I sold it last week, so I go that going for me.

 

[ArgentCy]

I find this whole thing fascinating, especially with Hertz. For the first time in History they are proposing to do a stock offering while in bankruptcy because of the supposed demand for this, what should be worthless, stock. Essentially they are wanting to rob dumb stock buyers to give directly to the bond holders. AND THE STOCK IS UP TODAY. DO NOT BUY HERTZ.

https://www.zerohedge.com/markets/m...hertz-plans-sell-1-billion-new-bankrupt-stock

Just when you thought the idiocy couldn't get any worse, it goes to '11'. After announcing the opportunistic sale of newly bankrupt shares in Hertz, "investors" are bidding the rental car company's stock up this morning, now back above $3.00 (up 50% this morning) and back above its pre-bankruptcy levels...

 

[brianhos]

I find this whole thing fascinating, especially with Hertz. For the first time in History they are proposing to do a stock offering while in bankruptcy because of the supposed demand for this, what should be worthless, stock. Essentially they are wanting to rob dumb stock buyers to give directly to the bond holders. AND THE STOCK IS UP TODAY. DO NOT BUY HERTZ.

https://www.zerohedge.com/markets/m...hertz-plans-sell-1-billion-new-bankrupt-stock

Just when you thought the idiocy couldn't get any worse, it goes to '11'. After announcing the opportunistic sale of newly bankrupt shares in Hertz, "investors" are bidding the rental car company's stock up this morning, now back above $3.00 (up 50% this morning) and back above its pre-bankruptcy levels...

FOMO is strong right now, and is the thing keeping air in this bubble. Q2 earnings calls should smash that optimism.