Crypto thread

The top pretty much coincided with the lowest unemployment in American history. 

Wall Street Journal: 

Breaking: A new bull market has begun. The Dow has rallied more than 20% since hitting a low 3 days ago, ending the shortest bear market ever. 

Imagine writing that headline as unemployment breaks records, the Fed prints trillions, nobody is leaving their houses, and global trade is at a standstill 

Thats borderline criminal 

.….and so it will be the shortest bull market in the history of time. 

That said, Detox, the Fed and our government will always backstop this market. Someday, there will be a price to pay but when the entire global economy is in the same boat, the price will not be paid today. 

What is clear is that come the end of spring or the beginning of summer, another 2 trillion will be thrown into the air and the pork will be served to keep the markets afloat.

Like I said over a month ago in this thread, I see no reason why Bitcoin and the S&P 500 can't both be winners on the other side of this crisis two years down the road. The monopoly money will continue to flow, which should have the side effect of making BTC more attractive. 

Your extreme predictions (HD at $80?) will simply never be realized no matter how pessimistic you become.

The market will tank. Run of the mill bull trap. 

Cant believe they shut down the world for what will end up being a severe flu

What a scam! 

Plebs will think wew good thing we quarantined 

Corona: 24,000 deaths worldwide 

Diarrhea: 2.2 million deaths annually 

Id say massive profit taking on longs by the end of the day. Nobody will want to hold this through the weekend. This was an exit pump. 

Portnoy down $250k on LULU 

Yelling at brokers contacting him, says they’re losers 

Has Buffet deployed his $125 Billion yet? 

No. 

Why?

Why?

Because the opportunity to either increase his monopolies or really take advantage of someone didnt come up. I am sure he was binge eating all the sweets he loves waiting for an airline or an oil to come crawling before him asking for some cash and then he would lay the pipe to their head and take advantage. Most all of his acquisitions are where he uses his wealth to take advantage and its usually during times of need. I also think he is smarting for the losses his monopoly has taken so he might be laying low.

Oh yeah. I was suggesting that Buffet isn’t buying because we’re going much lower. 

Futures open in the red. 

I’m looking for TSLA below $200, HD around $80 and a bunch of real estate developments to go bankrupt. We still have another year+ to go. 

Oil is getting smoked again. 

Wall, what’s the bottom here? Can it go to $15? $10? 

Yeah I saw oil opened almost under 20, it was 19 I think friday? It can go lower because demand is down of course and supply is super high. Without the coordinated effort to cap supply I dont know how it can go higher...but I think Russia knows this and wants to break our nasty fracking and Canada, and also maybe teach the Saudi's some humility.

If it keeps going lower I might toss some risk capital at big safe oil for a trade not a long term position. I have quite a position in all those names I mentioned and am not going to move them for a long time...but as usual I am early on the trade even though I waited a LONG time.

BTC trading isnt impressive..just crawling down and the only volume seems to be on spikes lower the last while. Maybe I will get another shot under my last purchase.

I agree with your price points on those stocks. I see no reason why HD should be this high..of course it is this high and that is the current price but Ive been in them once or twice during this and their traffic is WAY down...I dont see how they wont get hit hard. I think people are thinking this is a quick reverse and everything is ok again...well even if things do improve it isnt like we are going to be back to high speed leverage spending. People are going to be cautious and want to have some safety, well they SHOULD be thinking that anyway. If someone who has no history of ever being in need of savings does not see this as a blaring red stop sign I dont know what else could make the point. I'd say a high majority of lower to upper middle class are not prepared for more than two months of pain before their CC's get maxed or they start panicking.

Yeah, I’ve gotten smoked on bitcoin. Gold is up a little. In hindsight I should have went into more of a cash position and transitioned into bitcoin slowly. I still think Bitcoin is a great play for the next 18-24 months but I could have gotten more bang for my buck. 

Detox... just curious.   How do you arrive arrive at an $80 target for HD.   Seems unrealistic a further 50 %  fall from hear.  Let's just say if you get your opportunity,  this country will have much bigger problems to contend with... like a depression 

*Here

$80 seems like a fair price when looking at the chart. It was trading around there for a long time in 2014. 

Everyone always underestimates what a recession is. We’re barely 2 months into the recession. I’ve listened to many of the big dogs and they all seem to have a very simple macro picture —> roughly 8 years up, roughly 18 months down. 

Assuming the geniuses are right and we’re 2 months in to an 18 month recession. Where do you think HD will bottom? 

Saudi plans to increase crude oil exports starting in May by about 600,000 bpd. Total exports to 10.6 million bpd. 

HD was trading at $20 at the bottom of the last recession. 

If you buy the bottom of a recession, your position should 5x - 10x during the next 8 year bull market. 

MGM $3.50 - $32 

HD $20 - $230 

JPM $23 - $135 

Google $155 - $1,400 

ETC 

Exxon is boosting production 

What is going on 

Closing shorts. 

PENN 10.01 

MGM 11.05 

Wallstreet, can you send my winnings in bitcoin? Thanks! 

It's rather the simplistic to place a generic valuation on a basket of stocks. You can do better than this, regardless of how big of a pessimistic bear you happen to be. We all understand what you are rooting for.

I’m rooting for housing and stocks to burn to the ground and bitcoin and gold to pump to the moon. Then I can buy the housing and stock bottom with my gains, play golf everyday and take naps. 

Id been set up to go in but it hadnt got to my price point. If I had listened to you I'd have zero in my account from owning ADA at 3 bucks or whatever it was..

I gotcha.. I'm not a big chart guy, but believe it can be used to complement analysis on a company's fundamentals .. I mentioned in the other thread that stocks are trading in a vacuum right now.  They are not tethered to anything,  because no one has any idea what earnings will be for the foreseeable future.   Also, can I opine and say that catching a bottom is a fool's game.  You may be more of a trader than I am, but as a long term investor,  I ask myself if stocks will be worth more 3 years from now.    I'm not backing up the truck,  but have been selective on the way Down... and yes, they could get much cheaper