SPDR S&P 500 (SPY): I think the up spike is a combination of...

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Another Casualty

Re: nowwhat2 post# 304108

Wednesday, 04/08/2020 2:01:35 PM

Wednesday, April 08, 2020 2:01:35 PM

I think the up spike is a combination of folks becoming desensitized to the virus, the fed, and frankly bad investments being made. Everyone's now saying oh its gonna be a V. Its gonna be a U. Its gonna be an L. We hit bottom get in now.

The nes is now trying to paint things in a positive light while the fed pumps billions into the market.

News flash. Earnings haven't even dropped yet. Seems like a pretty big run up for no earnings. No virus peak. No returning to work until June.

I'll wait to see what the earnings say. I did cover this morning. I'll be taking up a major short position next week on monday or tuesday ahead of BOAs earning release. May even do it tomorrow or friday.

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