DOW

There has been a 123 low on the Dow daily...
I’m currently long but it’s only for the short term as remember, bear markets last around 6-9 months minimum...and it’s no way over just yet....there is way to many bad news out there and America is in a bad place currently and very likely to fall once they realise how bad they are ...
Even if we have seen the worst of the virus in Europe it’s done the damage to the world economy so the effects will only be seen in the next few quarters so very doubtful that we have bottom just yet...
I’m currently long and will go short at the fibs...

Great Post (as usual Remo).

The markets are all about pain - and I gotta say (like yourself and any other trader), I've taken some pain. I had to!

Anyway, risky trade - but the lines are holding well (range bound) for quick scalps on the five mins.

I'm probably going to save the "proper" shorts for the FTSE and SPX, but will scalp the Dow every now and then (looking after the pennies).

As expected, the downtrend breakout came:


We must remember that really fast moves have no stability so counter moves will usually also be fast/strong.

Will be interesting to see what happens around the 25240 61.8% Fib level. Like FTSE, there's also a gap near this Fib.

Great post Jackozy (we've missed you man, it has been ages!)

the 25,240 on the dow looks very ominous; but we're talking about another 2000 point move before retracement; that's a hell of a bid bet for the markets to be making at a time where massive challenges are ahead.

Well this is almost bordering on insanity imvho...
Airlines whose planes are all grounded are up 25% today based on what exactly?

i'm so tempted here to short the dow....so i dusted the ig markets account down and put a couple of orders in put in with tight stops....
23811 with 150 pips stop

if that fails to hold then 24291 again with a 150 pip stop...

i'm also looking to short bp and ezj....and one or two others...
so lets see...

atb, wdik, dyor
trendfriend

This is the reason....

Easyjet confirmed last night that it had secured a £600 million loan from the Covid Corporate Financing Facility (CCFF), issued by HM Treasury and the Bank of England.

In addition the carrier has drawn down $500 million (£407 million) from its Revolving Credit Facility, raising cash reserves to around £2.3 billion.

The news came on the same day that Easyjet’s founder and largest shareholder Stelios Haji-Ioannou again called for the carrier’s £4.5 billion contract with Airbus to be cancelled, warning that failure to do so could see the airline run out of money “around August 2020, perhaps even earlier”.