I think it is now.jumped over my strategic $1750 USD ..I thought it would go lower, maybe will with the next mini crash but time to pile on againWhat's perplexing is that even gold ETF's are down - we'd normally anticipate a spike under these circumstances.
Chronos - I know you're a metals trader, care to chime in as to why gold hasn't spiked?
The huge job cuts and forecasts of Qantas are not good news for anyone. The implications for the economy are dark.
Qantas cuts show how slow the economy's recovery from coronavirus will be
https://www.abc.net.au/news/2020-06...covery-from-coronavirus-will-be-slow/12391042
That's not exactly news though - international travel will be basically non-existent until there's a vaccine.
I actually looked into qantas a fair bit when I started opening some small positions on it a few weeks ago (I've been buying the dips since it was at $3.50 so I'm basically just at breakeven at the moment, until tomorrow's bloodbath obviously) and roughly 75% of its business is domestic travel, which IS going to pick back up. Not to where it was obviously, but it'll be there. Australia's size and the distance between its cities necessitates at least some travel, but aus, aside from victoria, has contained the virus - this ensures and enables a domestic reopening that won't/can't occur in, say, the united states. Qantas was literally the only airline on earth I even thought about buying into and it remains so.
They've been ABLE to raise the capital they have for a reason.
I will be buying the bloodbath tomorrow and I bet you qantas is way up four weeks from now.
Dividends? doubt.jpg
Cash is king even more so now.
A simple example of how overblown this is - the media's carrying on about the 747's going to the scrapheap etc now - they were scheduled for retirement (actually required to be scrapped) soon anyway!
I actually used to be a pilot (quit it all in 2014 and also now have a medical reason why I can't be aircrew) so this stuff is pretty much my wheelhouse and I have a couple of friends still in the industry so if anyone has any questions for me or some they'd like me to pass on to them I can certainly do so
My favourite is the J58
What's perplexing is that even gold ETF's are down - we'd normally anticipate a spike under these circumstances.
Chronos - I know you're a metals trader, care to chime in as to why gold hasn't spiked?
Fade you? And what's the reason for your $2500 forecast?
You didn't tell me why gold didn't spike in response to a U.S market drop either
P.S link to other thread? I have popcorn ready.
Fade you? And what's the reason for your $2500 forecast?
You didn't tell me why gold didn't spike in response to a U.S market drop either
P.S link to other thread? I have popcorn ready.
Give me ~15 mins; I will do a chart to predict the session close. I haven't done it in a while.
I'm in the stay-at-home stocks and I haven't had a single red day in ages, today no exception.
I posted in the other thread that all the overall market gains are coming from stay-at-home tech/megatech. Almost everything else is either negative or at best flat, and with tech making up such a large percentage of the index, we see an overall bump.
I'm in total agreeance with you reference a lot of the market, but there's actually some fundamentals behind what I'm in, which I have no doubt is why they've had such stellar results.
Reference miners - I have a position in DEG that's up over 100% in just a few weeks. Also another in MGV.
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