This thing is nowhere near being over. If it’s a baseball game it’s maybe the 3rd inning and the US government has started using its relief pitchers. The economic numbers will be bad. The analysts generally are horrendous but in times like this it’s impossible to have an accurate estimate. The next shoe to drop will be in a few months when people who have been able to skip house payments or have had evictions stop miss the payments or start to be foreclosed upon. Also the amount of leverage in markets is big as interest rates make it easier for larger investors to be leveraged.I would venture to guess this is a double bottom V pattern. Nice bounce today, but there is a literal tidal wave of bad economic data that's about to be unleashed in the next 10 days. I'm holding on to my puts. They expire in June, so looking forward to Lyft's next earnings release.
The difference between them and now is you had actual people trading and providing liquidity. Not it’s a bunch of people with computers. You had guys trading heir own money trading thousands of bond contracts at a time to make a tick. You could move good volume in a small range then now you can’t as the computers pull the bids and offersIf you put a gun to my head, I'd still take my chances throwing a dart. There's no rhyme or reason to 10% moves a day--this is pure emotion, not ideal for my type of trading. I say this as a trader on the CBOE who wore the same jacket and acronym from 95 to 04, traded through the tech boom/crash at the turn of the century and 9/11 when the market was closed after the planes hit, never seen anything even close to this.
The only position I feel good about right now is shorting volatility but I don't have the balls or money to do it.
I'm going to say the best bet is to stay out of the market.Today I sold my SPY call. I got my Uber put for tomorrow....who is betting down and who is betting up tomorrow?
*Edited by deleting the (s) after the word call and put. I am poor and can only afford one of each. #Truth
I prefer movies to obscure sports quarterly...
Watched the Matrix trilogy. You know, where humans are reduced to batteries to run the machines? And "The One" is supposed to save everyone from machine oppression?
Then the analogy sets in, where you realize that we are the batteries of the corporate machines, and "The One" is your chosen political candidate, and the corporations that own all of congress are the macines... writing the code...