THE MMM “Munchin Manipulated Market
You can put any analysis you want around the Bear market bounce, but the high probability remains, Mnuchin and the Treasury with Trumps bidding are using Powell’s FED money to orchestrate a Re-election campaign through various entities.
For me the game plan we set out recently remains. It will be a tough go to trade against them, but the underlying issue is the market was overdone in February and is more overdone now.
The market had its initial adjustment Down..
We had a market adjustment down, got out of our shorts and are now back short on the bounce. In building the original short position we sold Relative Strength Highs for two years. We are only two months into this little love nest. And the fickle public are backing away, just based on the monitoring of hits on the website over the past week, that is a good sign
FANG STOCKS LOOK TIRED
At the moment Amazon and Netflix are still higher on the day but the whole contingent seem ready to roll over. We are watching Netflix especially with earnings coming out. Would expect the market to sell whatever the numbers are.
And health wise we are all on our own…
Trump wants to reopen the economy yesterday. We all want that but until there is comprehensive testing it will be risky. I don’t know many people who want to end their own social distancing for some theory Trump has at the moment. We are all staying locked down until we feel safe.