Anyone scalping the FTSE Futures??

[Dentalfloss]

Will it hold.?

 

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Will it hold.?

 

[medallion way]

Fri saw something that hasn't been seen for a while... US markets down over 1% in a session and now 2% off their highs. They are approaching levels that entering longs needs to be considered. My view is that further lows will be seen but some smalls long positions around current levels (DOW support 28,840) might be warranted. EU did not participate in the sell-off but France just announced 2 confirmed cases of the snake flue so expect a gap down on Monday.

 

[postman]

Fri saw something that hasn't been seen for a while... US markets down over 1% in a session and now 2% off their highs. They are approaching levels that entering longs needs to be considered. My view is that further lows will be seen but some smalls long positions around current levels (DOW 28,840) might be warranted. EU did not participate in the sell-off but France just announced 2 confirmed cases of the snake flue so expect a gap down on Monday.

I dont like the look of the chart either, I'm expecting more downside, its that time of year.

 

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our horizontal line became support

 

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we could get stuck around here

 

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A great weekend to all

 

[medallion way]

A bit of a tug-a-war between the Perma bulls and the realists going on here, Supports have held but I think the realists will eventually win and new lows will be seen. Market's persistence resilience in the face of no good news is getting ridiculous.

 

[medallion way]

Tesla reached a market cap of over $200b making it the most valuable car company in the US, surpassing GM and Ford. Not bad for a company with just 2 manufacturing plants and who has yet to make a profit, not to mention that Tesla counts production in x,000's while Ford & GM count it in x,000,000's. Market euphoria is serving Musk well but the short-sellers haven't given up on Tesla saying that the Co has zero future after Musk.

 

[postman]

Tesla reached a market cap of over $200b making it the most valuable car company in the US, surpassing GM and Ford. Not bad for a company with just 2 manufacturing plants and who has yet to make a profit, not to mention that Tesla counts production in x,000's while Ford & GM count it in x,000,000's. Market euphoria is serving Musk well but the short-sellers haven't given up on Tesla saying that the Co has zero future after Musk.

So Tesla is basically a tech company.

 

[medallion way]

Amazing.. Call yourself tech and you can blow your baloon as big as you want with hot air because none of the financial rules apply to you.

 

[medallion way]

The mayor of Wuhan (the epicenter of the virus) advised that 5 million residents of Wuhan had left the province for all parts of China and also to overseas destinations before the lockdown was effected. Bloomberg commentators covering the Asia markets are warning of "market chaos" for the next few weeks. Mon will see 16 of the S&P top companies reporting... it is likely that even if reported figures are good, the market's focus will remain on the possible effects of the coronavirus. China watchers are saying that if China markets were open on Monday, they'd be at least 5% down and warn that by the time they do open, the gap down will be much higher than that.

 

[Dentalfloss]

 

[medallion way]

As expected, EU gapped down substantially on Monday open, DAXmid60 down 1.6% followed by the CAC at -1.4%. US futures gapped down on Asian open and remain down. Markets are now where they were late Dec 2019 having lost all of Jan surge.

Many are comparing current events to SARS times, however, during SARS, the purchasing power of the Chinese consumer was nowhere near where it is now... I guess one could now say that, as far as the retail economy is concerned, when China sneezes, the rest of the world catches a cold. In some countries like Italy, Japan, Thailand, Etc. China represented as much as 40% of the tourist income.