On Watch 03/27/20 From Dante

 

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I'm expecting the market to digest this imminent stimulus bill as a sell the news event, since it was widely known it was happening tomorrow coming into this, on top of the fact we just rallied 20% over the last 3 sessions and 6% today into the worst jobs report in history by a long shot. There is also tons of data not even out yet about how much worse it actually is, people who haven't filed that don't even know how to/couldn't. This along with the fact the US coronavirus cases are still accelerating and we're not really doing much about it or enforcing things in terms of a national quarantine plan to stop it. The social distancing and trying to let as many businesses as possible stay operating is just going to make this whole process longer and worse. Just my opinion. That said, I'll be looking to fade some things should this scenario unfold tomorrow.

 

BA:  This is up way too much way too quickly, and likely needs to pull back, so I think this sells nicely should the market pull tomorrow.

NCLH: Could see this floating all the way back down towards 10-12 range again in any selloff event tomorrow.

TLRY: Anything sub 8 tomorrow looking to get short on pops.

MRNA: This wanted no part of the rally today, expecting this to be very weak as well should we sell off tomorrow.

And again, only looking to fade these if the overall market is weak, otherwise ignore.

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See you out there!

- D

1 Comment

  1. Thanks for the ideas!

    Reply

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