Strategy Session Notes (March 20, 2020)

WU 032020


Big asset unwind. Margin calls; leverage; redemptions, etc. Very sick market.

Cash is still king. 80% in cash for me.

I still believe that this is some kind of bottom. Technicals give me that picture.

This is a treacherous environment. The best trade is no trade.

So many stocks are setting bull traps.

Note “relative” versus “absolute” price levels.

$T2108 — Pretty weak.

$T2107 — New low today. This is a red flag.

$SPX — Wednesday’s low held. Higher “relative” low?

Merrill Patterns:

$DJI — holding

$DJT – holding

$MDY – holding

$IWM – holding

$NDX – holding

$COMPQX – holding

$XAL — airlines might get bailed out…or not? These are tempting…but they really don’t entice me from the sidelines.

$LMT – Really bad price action.

$RTN — really bad price action.

Remember the zig zag. A “V” is likely to be a “W”. Merrill Patterns.

$GSX — Still waiting and watching.

$ZM — I took some profits here. I trust nothing.

$IIPR — Great high yielding REIT in the pot industry. Pot is now in demand. This is the only stock I’d consider.

$ZM — Pretty big move. I think it needs to rest…but fundamentals are good.

$BLPH — Inhalation delivery system.

$MRNA — A mess.

$AMZN — 200-day MA

$GOOGL — Nope

$FB – Nope

$NFLX – Nope

$HAL – covered straddle




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