I need to tell a certain home improvement retailer that they need to pay us approx $1m and provide additional POs for $15m. Might wait until tomorrow
Anyone getting in Best Buy before tomorrow morning's earnings call? Geek Squad is their top marginal performer and they missed less than two weeks. I think the Switch and people buying stuff to work from home overcame that
Actually low from what I thought. I guess its a little early, will probably be worse in the coming months.
I got this email from my car loan servicer. I've been paying mine, was a mass email type of notice. I'm sure they're hurting Spoiler At the beginning of the COVID-19 health crisis, Wright-Patt Credit Union (WPCU) temporarily suspended repossessing any collateral held on past due loans. By doing so, we have been able to help many members through this unprecedented time. Many of our members have since been able to bring their loans current and maintain these obligations. Repossession Process Being Reinstated In order to protect member-owned assets, as Governor DeWine begins to reopen the State of Ohio, we will begin processing repossessions in cases where delinquent borrowers are not in communication with WPCU about their plans to resolve their situation. Vehicle repossessions in process before COVID-19 will be reactivated on May 26th. On June 1st, WPCU will begin issuing new repossessions for loans more than 90-days past due with no payment arrangements in place, as well as for loans to members who have not been communicating with WPCU or allowing us to look for ways to help them avoid repossession. Having Trouble Making Your Payments? As always, WPCU will continue to work to avoid repossessions for borrowers who are communicating with us and cooperating on plans to resolve past due balances. If you are a borrower experiencing job loss or other financial stress, we urge you to contact us at (937) 912-7430 to make arrangements so that repossession can be avoided. We are unable to work with members who will not talk to us, and in these cases, WPCU has no choice but to protect the interests of the membership whose funds are the source of the loans the credit union makes. As always, we thank you for being a member of Wright-Patt Credit Union.
I got the same email from them today. I'm sure that side of their business is hurting big time. I do all my banking with them, and just closed on a mortgage refi with them as well, and my loan originator said the volume of new loans and refis was the highest she's ever seen by far, so at least that side is doing well.
I have no idea what I'm doing. They locked my account a few weeks back because I did something I apparently wasn't suppose to, bought and sold stuff before it settled I think. I called them to raise hell, they made me fill out some paperwork and submit it, now I'm margined or leveraged or something.
They probably switched your account from cash to margin, and now the pattern day trader rule applies. No more than 3 round trip day trades per 5 trading days unless your account is over $25k
The Dow rallied hard again yesterday, gaining 369 points to 24,579. The large cap index hit an intraday high of 24,649 before pulling back. The NASDAQ and SPX gained 191 and 40 points, respectively. Volume on the NYSE was moderate, coming in at 94 percent of its 10-day moving average. There were 34 new highs and 7 new lows. Yesterday’s rally appeared to be a continuation of wave 3 up within Wave C up of Major Wave B up. My target for wave 3 up remains near the 29 April high of 24,765. However, the Dow already reached an intraday high of 24,709 during Monday’s session, so it’s possible that wave 3 up is complete and yesterday’s rally was a retracement wave within wave 4 down. If this is the case, the Dow should bounce around between 24,400 and 24,765 for the next few days before pushing higher, possibly well above the 25,000 level. However, I remain extremely cautious about the current wave count and the possibility of a move toward or above the 25,000 level. I say this because all the up-down-up action we’ve seen for the past week can also be counted as five complete waves in the Bullish scenario. In other words, the top may already be in, especially on the S&P which has a much cleaner pattern than the Dow. Also, the P/C ratio on the CBOE closed with a reading of 0.46 yesterday, meaning investors were buying twice as many calls as puts. This EXTREME level of optimism is almost NEVER rewarded. Think back at what happened back in mid-February when we were seeing similar extreme P/C ratios. The market crashed!!! Anyhow, with a pattern that should push the market higher, it’s troubling to see the extreme amount of optimism that is occurring at this time. On one hand you have a pattern that should only be the third wave of a five wave sequence. But on the other, all the up-down-up trading action we’ve been seeing makes it difficult to count waves. BTW, we also saw this up-down-up action happen in early February, just before the market crashed. So be careful. The required waves to completer the five waves up sequence could be hidden in the recent up-down-up action, and the next leg of the Bear market could be starting soon. With positive indicators on the cockpit, I must remain Positive until proven otherwise. However, I must admit that I’m troubled by those unrealistic P/C ratios. I can’t ignore them. The Dean’s List and The Tide remain Positive. To further confuse the issue, something very strange happened yesterday with the Sector Ratio. It came in with a 24-0 Positive reading yesterday. That’s right, all 24 sectors were positive. It’s been a long time since this happen and it usually occurs when the market is trending. This is certainly NOT the case now, at least for the Dow and the small cap Russel 2K. However, the NASDAQ is in the Trend Mode with a VTI reading of 83.9 and the SPX is just short of the Trend Mode at 69.81. If the number is rounded to 70, it too is in the Trend Mode along with the NASDAQ, so it could be the Sector Ratio is trying to tell us something. If this is the case, any decline from current levels should be short lived, as what appears to be wave 3 up of final Wave C up resumes. The Strongest Sectors were Material (includes gold), Energy, Cap Goods, Semiconductors and Healthcare. Gold (GLD) rose 0.39 cents yesterday to 164. Gold appears to be overbought at this point and probably needs to pull back to retest the recent breakout from its wave 4 triangle. The VTI indicator for GLD remains in the Trend Mode. I should note that the HUI, the gold miners index is even more overbought than gold (the metal) at this point. I could pull back from its current level near 297 to 240 during the next few weeks. I’d view any pullback approaching 240 as an opportunity to add mining shares. The Model continues to hold 600 shares of TBT, and 500 shares of GOLD, 40 shares of UCO, with a cash balance of $73,747. That’s what I’m doing, h
Futures about to turn green before opening. Market doesn’t care about shit. Somebody said it here earlier this week, but it seems like it’s going to take a major unexpected bankruptcy (or a few of them) or something like that for reality to set in.
I sold my SCO, that was a huge hit. Techs show it continuing to run south and I had to get out. inverse on Nasdaq so there is a very promising future for us though so i am holding those and along with you watching the slow bleed. I expect that to change today though.
yes stonks are dumb Lyrtch but it is trading pretty close to its pre-covid level and I would assume the general feeling is sales will be down rest of year even with open stores. BBY withstanding this storm tho is extremely impressive and maybe even more impressive than those that were lucky enough to remain open. They are a big winner in WFH.
oh my post was just a general statement on the absurdity of the likely cascading business failures, small business owners not having the capital to take over these spaces, and continued lagging demand with a mostly stable-ish and strong stock market. unless we're just finally completely separating the stock market from the broader economy altogether but then again i'm about to spend $1500 at BBY so maybe this is all related
Just got into FSLY looooong with 12% of my portfolio at 41.05 this AM. First forward move I've made in a while - hope it pays off, see ya in 2030.
You just don’t understand fundamentals of economics, trading, and value because you’ve not gotten rich on someone else’s labor. talk to us when you do buddy!
This is all so fake and stupid. Bought a bunch of FANG at $25 in my IRA. Offset a few bad moves (AMC & GE) in 2019.
Some guy on CNBC said if it gets back down into the 90s he’ll buy more so I’m going to buy then if it does that’s all I have to offer
I’m not anti technical analysis but I have a hard time using this piece as backup for a model. The market didn’t crash due to this metric. It crashed bc of the virus and the lockdown.
I bought some around 105 the other day. If it gets down near 90 I'm certainly buying more and maybe on the way down too. That's a long hold play for me.
There's plenty of historical examples where these levels have preceded a correction. The virus was only an accelerant on the time axis.