Nasdaq hit the circuit breakers against this morning; going up

[SlugSlinger]

Dow scores best day in 87 years as Congress nears stimulus deal
Mar. 24, 2020 4:30 PM ETBy: Carl Surran, SA News Editor32 Comments

• Stocks rallied strongly, closing at session highs, on expectations that the White House and congressional leaders are near a bipartisan agreement on a coronavirus relief bill that could top $2T.
• Also, Pres. Trump expressed the need to reopen the economy, hoping the economy can be moving back to normal by Easter, although health officials are skeptical.
• The Dow closed +11.3% for its best percentage gain since 1933; also S&P 500 +9.4%, Nasdaq +8.1%.
• Gains were broad based, with advancers leading decliners on the NYSE by 12 to 1, possible evidence that today's rebound might last more than just one day.
• All 11 S&P 500 sectors racked up big gains, led by energy (+16.3%), financials (+12.8%) and industrials (+12.8%), while consumer staples (+4.8%) was the only group to advance less than 5%.
• Stocks hardest hit by coronavirus related shutdowns were among today's biggest winners, with Wynn Resorts and MGM Resorts both up more than 15%, Delta Air Lines skied 21%, and General Motors zoomed nearly 20% higher.
• U.S. Treasury prices fell for most of the session but closed off session lows, as the two-year yield rose 8 bps to 0.37% and the 10-year yield added 5 bps to 0.82%.
• WTI crude oil settled +2.8% to $24.01/bbl.

 

[DRC458]

-25.85%

Tomorrow should be a good day.

.

 

[Glocktogo]

LOL, I'm up $12.5K since TUESDAY!

Feel like raising my arms and yelling "WHEEEE" cause this is one hell of a roller coaster ride!

 

[Shadowrider]

LOL, I'm up $12.5K since TUESDAY!

Feel like raising my arms and yelling "WHEEEE" cause this is one hell of a roller coaster ride!

Probably ought to hit the sell button and pounce on the next fall. Do it all over again!

 

[SlugSlinger]

Every time I post positive news, the market drops. So I hope you sold.


Stocks cap biggest three-day surge since 1931
Mar. 26, 2020 4:30 PM ETBy: Carl Surran, SA News Editor39 Comments

• Stocks soared into the close to cap the market's first three-day rally in more than a month and its biggest three-day gain since 1931: Dow +6.4%, S&P +6.2%, Nasdaq +5.6%.
• The move was at least partly sparked by the U.S. Senate's passage of the $2T economic stimulus plan and sending the bill to the House, where Speaker Pelosi said she expected a "strong bipartisan vote."
• Investors shook off dismal data on U.S. monthly initial jobless claims, which surged to a record 3.28M last week, as businesses shut down to help prevent the spread of the coronavirus.
• "The deeper and the worse the numbers are in the near term, the more possibility there is for a [fiscal] response, which powers the rebound," says Charles Schwab chief global investment strategist Jeffrey Kleintop.
• Boeing, Chevron and Walgreens each jumped more than 10% to drive the Dow's outsized gains, while utilities and real estate rallied more than 7% as the top performing sectors on the S&P 500.
• U.S. Treasury prices rose, sending the two-year yield down 4 bps to 0.26% and the 10-year yield 5 bps lower to 0.81%.
• WTI crude oil sank 7.7% to $22.60/bbl,

 

[zghorner]

got my b-hole tore up bad today. Down $20k on my put contracts right now but holding strong waiting for the rug pull. Of course i cant see the future and it could stay artificially suspended at these levels until things start looking better (with the virus) which would wipe me out but this is one of those times i must refuse to cut losses and maintain my conviction that we havnt seen bottom yet.

 

[JD8]

got my b-hole tore up bad today. Down $20k on my put contracts right now but holding strong waiting for the rug pull. Of course i cant see the future and it could stay artificially suspended at these levels until things start looking better (with the virus) which would wipe me out but this is one of those times i must refuse to cut losses and maintain my conviction that we havnt seen bottom yet.

I'd imagine the last three have been rough. I'm sure you'll get a pull back. You'll have bad news through the rest of the year IMO. However, I took a long term approach. Bought some MPC, CSCO, OKE, AVGO over the last week.

 

[zghorner]

I'd imagine the last three have been rough. I'm sure you'll get a pull back. You'll have bad news through the rest of the year IMO. However, I took a long term approach. Bought some MPC, CSCO, OKE, AVGO over the last week.

I will take long positions after some legit, non socialist good news is released. I think we are still in a bear trend right now and I would be a fool to expect each day/week to be red.