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Irvin Mermelstein

Joined: 23/03/20

Comments by Irvin Mermelstein
Amazon Down, but Not Out, as Wall Street Backs Stock to Shine May 02, 2020 6:18PM ET
What happened to AMZN between March 23 an April 30 that would explain a rise from 1664 to 2450? Nothing. Just irrational exuberance ala 2000 dot com boom. May 01, 2020 8:24PM ET
In March AMZN was 1660. is All revisit that soon. PE of 118 is nuts.
S&P 500 May 01, 2020 5:11PM ET
Watch the VIX. This rally was 100% sentiment, no fundamentals.
Fed Cut Equities Stimulus 86% This Week and Stocks Are Falling May 01, 2020 5:02PM ET
Excellent piece. I haven't seen the Fed's activity and it's impact described better.
Dow Jones Apr 26, 2020 6:32AM ET
Oil prices were negative earlier in the week. The oil was worthless; the barrel was likely worth more than the oil. That's what that is about.
Dow Jones Apr 26, 2020 6:30AM ET
The market rallied on positive prices for WTI. At about $13 per barrel, oil is only about 25% of the price a domestic producer needs to be profitable.
Simon Property Apr 21, 2020 5:20AM ET
Earnings will be terrible.
Citizens Financial Group Inc Apr 18, 2020 4:04AM ET
nice short
Boeing Apr 18, 2020 2:14AM ET
BA is a short at this price. Restarting operations is a stunt after dozens of cancellations and before earnings.
Fed's Kashkari says Trump's 'staged approach' to reopen economy makes sense Apr 16, 2020 11:21PM ET
We listen our Governor, Gretchen Whitmer, not to the federal government.
Day Ahead: Top 3 Things to Watch for April 16 Apr 16, 2020 1:36AM ET
Some stocks, like airlines. are rising on expectations of a "bailout" of the industry. $29 billion will not keep all these airlines out of bankruptcy. I saw a pic of the main terminal of LaGuardia Airport today, with a single passenger in the place.
Day Ahead: Top 3 Things to Watch for April 16 Apr 16, 2020 1:29AM ET
The SEC has been granting extensions of 45 days to report their earnings. Market valuations are still mostly based in old earnings numbers. Now apparently the SEC is building in a delay in getting the fresh earnings reports. That seems to hide the fact that stocks are generally overvalued based on reasonable expectations that earnings will be horrible for most companies.
Wall Street volatility raises fears of another selloff Apr 07, 2020 9:44PM ET
VIX was positive during the late part of the session today. Bears are still in control looking at the futures. Buyers are going risk off, so down we go.
Week Ahead: Oil To Drop On OPEC+ Fallout; Wild Stock Swings Will Continue Apr 06, 2020 1:34AM ET
I have a bridge to sell you in Brooklyn.
Stocks jump on virus slowdown hopes, but oil slips on oversupply Apr 06, 2020 1:19AM ET
This is perhaps another one of Trump's deals that are always on the verge of getting done and don't.
Boeing extends Washington state production shutdown indefinitely Apr 06, 2020 1:14AM ET
while the plants are idle, "changed circumstances" clauses in buyers' contract come into force, triggering more cancellations.
Peloton Interactive Apr 05, 2020 7:01PM ET
Rowing machines, with no internet, financing, or subscription cost, are selling great. I talked to a vendor in NE today. There's a huge inventory of equipment in gyms everywhere that's going to be liquidated as franchisees of big chains go under.
WD-40 Apr 05, 2020 2:37AM ET
PE at 37 is overvalued relative to S&P average. Nice short.
Xerox Apr 05, 2020 2:28AM ET
Close to the low on 3/19, so may be an early leader down through that support.
Wynn Resorts Apr 04, 2020 11:24PM ET
Good looking short.
Dow Jones Apr 04, 2020 1:40AM ET
In order for the country to experience less suffering and death than already baked in the cake, every state must have the strict stay at home and social contact rules as we have in Michigan. That's not happening. In New York and Metropolitan Detroit and Albany, GA within the next few days, there will no longer be enough ambulances or EMTs to respond to calls from victims of corona or a heart attack or other catastrophic health event.At that point, people will be dying at home. Funeral companies are already near their limits and hospital morgues will be full. That's the trajectory we are on. When the market bottomed around 6500 in March 9, 2009 during the Financial Crisis, we were not anticipating unemployment rates above the high of 24.9% during the Great Depression and in the middle of an economically destructive pandemic.Only sentiment in the form of overly optimistic expectations despite the facts on the ground is holding the market up.
Dow Jones Apr 03, 2020 3:35PM ET
There are corpses in the streets of towns in Ecuador. Watch the video at the Washington Post. That's the future. So, sure, Trump admirers, go long!
Oil Jumps 32% on Week on OPEC Jawboning After Trump Remarks Apr 03, 2020 2:55PM ET
putting our shale workers out of work.
Boeing Apr 03, 2020 2:28PM ET
700 short. Stock is being shamelessly manipulated by Trump and Esper. ***company. Long way down.
Dow Jones Apr 03, 2020 1:29PM ET
Well, you're smart to get out. Good luck.