Buying this dip could get 'very, very nasty' for investors, trader warns (via TradingNation)
The stock market is at a make-or-break moment that could decide if buying on pullbacks could burn investors, BK Asset Management's Boris Schlossberg says.Nasdaq . "From a long-term point of view for this year, going forward, it's going to make a lot of sense if you're going to make a spread trade to get long the Dow, short Nasdaq, and that's simply because we've had 10 years of Nasdaq outperformance," Schlossberg said. "That mean reversion is going to start kicking in, especially as we start to see high tech and high flyers really start to … crumble because of the coronavirus fears," he said. "So, to me, that's going to be the much more interesting trade all the way through the year. That outperformance is going to stop this year, and that's going to be the trade to make." Craig Johnson, senior technical research analyst at Piper Sandler, agreed with Schlossberg that stocks could endure some more downside before resuming what he maintained was an intact "secular bull market." "We've gone down and broken through the 200-day moving average [on the S&P 500], and it looks like ... at minimum, we're going to have to go back and retest that 200-day moving average," Johnson said in the same "Trading Nation" interview. "The market internals have gotten weaker, and we continue to see some of our proprietary market timing gauges flip into sell positions, so this can be a little bit more downside that's going to have to get played out." The same goes for the Nasdaq, Johnson said, which could bode well for Schlossberg's recommended trade. "You're probably going to see more downside, at least in the short to intermediate term here, with tech," Johnson said, adding that right now, the market is pricing in an eventual recovery from this sharp drop. One lingering issue to watch is the strength of the dollar, both traders said. "The strength of the dollar right now probably is actually not a positive thing from lots of different perspectives because it creates a huge amount of credit tightening across the world," Schlossberg said. "It kind of puts salt on the wound [of] emerging markets and all the other economies in the world that had to finance their debts in dollars. So, to me, the strengthening of the dollar actually compounds the problem rather than makes it better as we stand now." Johnson agreed that the dollar could "be a major headwind" if it stays strong and Wall Street's risk-off trade rolls on. "The Read more: CNBC
TradingNation Can StOnKs go to zero? TradingNation BTFD TradingNation Don’t buy the dips you’ll regret it TradingNation TradingNation You only know it is/was a DIP in hindsight. 2008 wasn't a 'dip' until 2012. TradingNation dip dip dip dip!
'This is different' — El-Erian warns against buying this pullback amid coronavirus fearsDisruptions to earnings and the economy from 'shock' events such as the coronavirus tend to stick around longer than more fundamental downturns, the Allianz chief economic advisor said. Anyone with a brain can understand that 1/8 of the population of the planet in quarantine in the world center of production will result in massive economic disruption for months or even years. Maybe he is short , he got the market wrong to many times before last time before last high when advice to go short or not buy and the market jumped to new high , so please till him stop to manipulate the market . You couldn't buy a pair socks
Walmart will combine its store, online buying teams report saysWalmart is trying to turn e-commerce into a profitable business and drive up sales of general merchandise, such as apparel. so, cutting costs and firing people ?
Walmart to Combine Online and Store Product-Buying TeamsWalmart is combining its online and store product-buying teams, in a bid to reduce conflict and boost profits at its e-commerce business, whose sales are on track to approach $50 billion this year How much of this savings will go to appropriately paying employees?I never shop at at WalMart. Always a better option rebuild communities and small businesses. we dont need WalMart as a trojan horse for China. And paying no federal taxes..🚫
5 things every homeowner should know before buying a house - Business InsiderThere's way more to home ownership than just a monthly mortgage payment. Expect to spend money in these five other ways — at minimum.
Bloomberg Brags of Buying Congress in South Carolina DebateA slip of the tongue reveals the truth about the Bloomberg candidacy No he didn’t but play up a slip of the tongue for stupid clicks He didn't brag, but he let is slip then corrected himself right quick. Out of touch
Israeli-Style Hummus RecipeIntentionally overcooking the chickpeas then whipping the mixture is key. Israeli-style? Sounds bad my dude hm, Do u mean Palestinian hummus