Quote (ofthevoid @ May 7 2020 11:35am)
Maybe. Reading a lot of negative things about unemployment rate. Real unemployment rate some say is between 23-25%. Companies across the board raising boat loads of debt and cutting thousands of jobs, governments same thing as far as raising debt. SPY is currently where it was a year ago. Does it make sense for companies to be trading at same valuation when they've increased their debt by a ton and unemployment rate will probably settle in 10-20% for at least a few more quarters murdering consumption? We have large companies going bankrupt daily and California, basically our richest state begging the feds to borrow money. To me market seems toppy here.
look at volume, same pattern as previous when it held other supports that were resistances. if it holds 288-289 we are looking at next leg up imo. real life doesn't matter atm because "economy is opening back up"
I have no position, just speculating. I don't like no mans land 280s. will wait until more direction confirmation. if we do hit 293 we going to hit 300 again
Quote (thesnipa @ May 7 2020 11:44am)
even when he went on JRE the first time it was like a 1 day slump to rebound. do not short on Elon even if he says he's selling all his possessions and names his kid after some bullshit.
