Although we have seen a good rally on Friday, but trend is still down. It was nothing but a short covering rally. If futures break above 2694-2700sh area, we might get a chance.
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As expected .... trend is still down. To go long, I would NOT be first. I want to be right. I'll start leap calls when VIX is below 30.
We're headed for a recession, it's unavoidable at this point. Lots of small businesses are going to go bankrupt, even the surviving ones will not have money to spend.
Can;t shut the economy down for a month without repercussions.
hammadshahir
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@hungry_hippo, Agree! Even in recession, economy is not shut down. Yeah, people lose customers/consumers. But come on!
Recession is here
hungry_hippo
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@hammadshahir, the economy is shut down from the virus. Do you live in the US? Every state is shutting everything down, Ohio just closed all restaurants for dining in.
A recession follows because lots of businesses won;t recover. We'll see record bankruptcies.
hammadshahir
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@hungry_hippo, I live in Germany. We are bracing to shut down from 18th March. Spain, Italy, Belgium, Austria, Italy are all shutdown.
Can;t shut the economy down for a month without repercussions.