The 2020 filing season is upon us, so it’s time to pull out those calculators and spreadsheets and start compiling your tax returns. This is usually an arduous and sometimes stressful task, but if you know your way around tax reporting it doesn’t need to be.
Month: June 2020
Another quick look at current market sentiment. We notice that the bulls are getting very excited about precious metals (both the Silver and Gold). At present, that is the only extreme we see out there.
It’s no secret that this is probably one the most hated stock market rallies of all time. In fact, that is probably pretty accurate for the entire bull market since 2009, really. The question is when? Another good question is, is our idea of what fair value is anywhere near what it really is? In truth, we don’t really know how things will turn out. All we can do is trade the setups that we see and make sure that we manage risk accordingly.
Just a quick look at current market sentiment from early this morning. We note excessive bullishness on both the Nasdaq and Gold.
We will avoid the puns for this one… they’ve been overdone by now.
We’re not going to spend too much time this week getting into views and opinions, but rather just focus on the signals that a few of the charts we are looking at giving us. So let’s get straight into it.
If there is going to be COVID related fallout from the demonstrations, we should start seeing an uptick in COVID-19 cases around the world in the coming week or two. This will be an interesting metric to watch as it could potentially send half the world back to hard-lockdown. We’ve already seen the state of Florida (in the U.S.) record a record number of new cases last week. Should that trend continue and emerge in other states or even in other countries, we think that it could create a reasonable amount of fear in markets once more.
Some of our U.S. trades ideas on LOW, ORA, SONO and HAPP.
It is amazing how having a bias in the market can work against you as a trader and investor. As anyone who has been in markets for long enough knows, being early is the same as being wrong. We reflect on this lesson and have a look at some charts.
A quick trade idea from our strategists on Apple Inc.