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Irvin Mermelstein

Joined: 23/03/20

Comments by Irvin Mermelstein
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.
Dow Jones Apr 03, 2020 1:27PM ET
I'll be short over the weekend. Absolutely. Dis someone not notice the unemployment rate is up to 4.4%? Even the imbecile, Steven Mnuchin, says unemployment is headed over 30%. People just can't wrap their minds around the devastation caused by the combination of DJT + Covid-19.
Dow Jones Apr 03, 2020 1:20PM ET
This is a bear market. We'eheaded back to March low, 18,000+, and then we'll see.
Be Careful When Chasing Cheap Stocks Apr 02, 2020 6:45PM ET
I sold short at $154. Expecting BA to fall back to $89 and keep going.
Looking To Q2: 10 Shorting Ideas Mar 31, 2020 8:30PM ET
MU looks good. Target $30.
Dow Jones 30 Futures Mar 27, 2020 4:28AM ET
Is the market worth more today than at the bottom in 2009? Peak to trough, the Dow in 2008-09 fell 49.1%. We are nowhere near that. When the Market bottomed in March 2009, the Dow was around 6500. From September 1929 to July 1932, the Crash and subsequent bear market left the market down 89%. 1987 is irrelevant. This won't be a v-shaped recovery.
Day Ahead: Top 3 Things to Watch for March 27 Mar 27, 2020 3:32AM ET
Keep your eye on Boeing stock. There is something fishy in the price action in this stock.Boeing had a terrible year in 2019. The stock hit an all- time high in March '19. Boeing stock then went into a steady decline long before corona, which accelerated when it missed it last projected earnings by 17.7% So the stock was already plummeting on its own.Eventually, the stock hit $95 last Friday, which is still more than it is worth.In the last four days, the stock went up 90% to almost $190. That's abnormal for this market considering Boeing's well understood problems selling airplanes going forward, including ones already in production.The Dow Jones is down overnight and points to an opening lower. Boeing is now ripe for short sellers to make fortunes on the fall of the stock.So much for executive compensation being restrained during this period. The Secretary of Defense is a former Boeing CEO.