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Non-Tech : Kirk's Market Thoughts -- Ignore unavailable to you. Want to Upgrade?

To: Lee Lichterman III who wrote (9393)	4/22/2020 12:09:48 AM
From: Kirk ©	2 Recommendations Recommended By berniel rdkflorida2 Respond to of 26782

We sort of have a slanted "W" bottom so 2650 would be a test of the "^" in the "W" from above.... that would make for a very, very solid back test for the next leg up.

To: Lee Lichterman III who wrote (9393)	4/22/2020 12:10:53 AM
From: Sun Tzu	Read Replies (1) \| Respond to of 26782

I bought bear put spreads on ES 2770/2640. This pays about 1:2.5. Importantly, I think it is also the range that the Fed feels comfortable letting the market do what it wants. I think that around 2500, the Fed will feel the urge to intervene. And above 2900, the air gets too thin and the stocks faint and fall ;) The fundamentals do not justify the valuations, and everyone knows this. The Fed is just buying time in the hope that the recovery will catch up to the stocks. But what are they going to do if in June it still looks like things are getting worse and the recovery is nowhere to be found? I don't think that they can just outlaw down markets.