1/2: #OOTT @chigrl @Ole_S_Hansen
Following up on Friday's discussion, I'm still very much in the gap-down open camp. No sign of a Fed weekend announcement and case growth in Europe off the charts. Same is happening in USA, but so far undetected due don't test/don't tell.
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2/2: Meanwhile, I note we are already (barely) below the 61.8% retrace of the big move from 26.05 to 76.90. Next major support I see is 42.36 then 39.50ish, then 26.06(!!!). We're obviously WAY overdue for a bounce, and Fed stimulus should eventually give us one. Any thoughts?
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Molson Hart Retweeted Molson Hart
There are many ups on the way down, imho.https://twitter.com/Molson_Hart/status/1234125655459188738 …
Molson Hart added,
Molson Hart @Molson_Hart
Replying to @mgirdley @the_red_deer
From 2007’s ATH to 2009’s low, markets dropped 55% over 17 months. Even if the virus is not deadly it will cause quarantines. They will bankrupt many companies causing financial contagion that may dwarf bear stearns/Lehman. Hard to imagine we get a 1 week 10% drop and we’re done.
10:55 AM - 1 Mar 2020
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