Daily Briefing – May 5, 2020

Published on
May 5th, 2020
Duration
31 minutes


Daily Briefing – May 5, 2020

Daily Briefing ·
Featuring Peter Cooper, Ash Bennington, and Tony Greer

Published on: May 5th, 2020 • Duration: 31 minutes

Real Vision's Ash Bennington and Tony Greer, editor of Morning Navigator, discuss recent market action. Bennington and Greer discuss price action in the S&P 500, whipsawing oil markets, and the reopening of the US economy. Real Vision's Peter Cooper discusses shifts in consumer spending over the last few weeks, J. Crew filing for Chapter 11 bankruptcy protection, and Hertz being granted emergency forbearance to avoid bankruptcy.

Comments

Transcript

  • VR
    Victoria R.
    18 May 2020 @ 21:12
    Michael Lewis in The Fifth Risk talked about the electrical grid collapse being a big risk. Nice to hear Tony thinking along these lines. Our world continues to use more and more energy. Beautiful back and forth interview with two smart people.
  • MP
    Margaryta P.
    7 May 2020 @ 23:23
    As they say, ***k the haters! Please, bring Tony back as often as possible. I lack the technical skills he has, that's why his perspective is extremely valuable to many and many others here I imagine. Thanks Tony and Ash for an excellent segment! I am wondering what Tony thinks about the tech stocks and their short term future based on his analysis.
  • BP
    Barry P.
    7 May 2020 @ 02:35
    Excellent, love the nightly update and the variation of guests. Tony is great to have on for his views on the tape/trade/sectors, etc. Great piece Ash
  • MR
    Matthew R.
    7 May 2020 @ 02:11
    I'm glad to hear the short term perspective from an expert in the field as a change of pace. We get a lot of speculation in the mid to long term, but it's often hard to come by good short term perspectives without resorting to someone drawing pictures and arrows on charts. For that reason, I like this video. Plus I really like these daily briefings, and will keep my sub going if these become permanent.
  • RT
    Rob T.
    5 May 2020 @ 22:35
    What about that last hour for S&P?
    • PP
      Peter P.
      7 May 2020 @ 02:10
      I read Tony’s Navigator because I need a little Jesse Livermore to balance my bearish macro bias. A little tape reading can be helpful in managing time frame risk.
  • CW
    Claude W.
    6 May 2020 @ 09:53
    Tony Greer is so short term in his observations. I don't feel it's advantageous to listen. He says home building is going to be at close to full capacity. I mean, don't even know where to start with that. 100% the reason I'm not renewing my Pro Sub.
    • mw
      michael w.
      6 May 2020 @ 16:48
      I can see them starting up new projects as we speak.
    • TG
      Tony G. | Contributor
      6 May 2020 @ 18:07
      Home building sector of the economy was on FIRE precoronavirus.
    • GT
      Guillaume T.
      6 May 2020 @ 19:41
      Is going more 'pro', not the point of being short term? My understanding of Tony is a great contrarian of some of my ideas. That's why I'm here. Thanks for sharing your point of view Tony.
    • MR
      Matthew R.
      7 May 2020 @ 02:06
      What's wrong with short term trading? It's good to have a good balance.
  • JL
    Johnny L.
    6 May 2020 @ 16:10
    This is WS and investors chasing low price and believing the fed will not let it fail or they will buy everything Tony can not name one factor related to solid economic reasons other than a chase. Investors chased Norwegian Cruise Lines from 11-19 on NCL was a low stock price. Today NCL is 11 again after saying the do not have enough $ for this year, next year or maybe ever again Algos and idiots at there worst No one connecting a dot 30MM+ unemployed and broke. 40% of US consumers have no savings now. Msot of them will owe from 2-3 months of back rent/mortgages and car payments. they have no more credit either. They had 2+ jobs and will be lucky to get 1 job back. Whoever thins there is a restart, they are nuts. Home construction is nutter than ever Tony is off base here
    • JL
      Johnny L.
      6 May 2020 @ 16:12
      the spike in gas is not economic. People haven't put gas in the tanks in 7 weeks and with oil prices rising time to top it off. Tony just lost me here.
    • DS
      David S.
      6 May 2020 @ 16:16
      Although I agree with you, Mr. Greer is trading the market as it exits. His projections may be incorrect, but that does not stop him from trading and making money today. DLS
    • TG
      Tony G. | Contributor
      6 May 2020 @ 18:06
      LOL Johnny - I'm here to make money - not appease you with reasons for last sale. If you are going to start trading based on the economy - can I take the other side of all your trades?
    • JL
      Johnny L.
      6 May 2020 @ 18:15
      Tony, I am here to think and reason and connect the dots. I will challenge what I think is a failed thesis. Debate is healthy and very important. There is little basis for what you said. I listened to other things you've said and agree. On these I do not and try to make a case for your position as I did and let readers decide. I made more $ YTD then I have in 25 years of investing. I got this covered
    • CW
      Claude W.
      7 May 2020 @ 00:58
      Thought some good points by Johnny L here. Interesting that Tony says "LOL Johnny - I'm here to make money - not appease you with reasons for last sale". Guy is a great trader from what he says. Make many bag. No doubt. Trade the tape. Well done. If I'm going to spend half an hour listening to someone explain their process and what they think is happening out there reasons are important. His comment leads like mockery from the RV team to me, though that is perhaps not the case. Maybe I just don't get the joke. In any event it's surprising given what a tight and classy operation RV generally are.
  • AB
    Ash B. | Real Vision
    6 May 2020 @ 01:13
    Hi, guys. Interesting comments. Let me jump with my view — and tell you why I think Tony's perspective is so valuable and insightful on this show. I ran Nouriel Roubini's macroeconomics blog — and I worked on a big bank trading desk, supporting trading ops. In my experience, the guys sitting on desks who are tactically trading markets, on time frames in the range of hours to days, think, talk, and view the world the way Tony does — and he's a master at communicating his insights with precision and clarity. (If you're following these markets, and thinking like a Ph.D. macroeconomist, or a fundamental analyst in the Graham/Dodd sense, the price action we're seeing in markets right now doesn't make any sense.) One of the reasons I'm excited to get out of bed every day is that I know my view of the way the world works is going to get challenged. Where else am I going to get to see Stan Druckenmiller, Raoul and Hugh Hendry, Paul Krugman — and Tony Greer? Getting to listen to all of these divergent opinions, from grand-macro to hyper-tactical, and to learn from all of these guys, is, for me at least, part of the magic of RV. I read pretty much every comment every day...Very curious to hear what you guys think...
    • HE
      Henry E.
      6 May 2020 @ 01:25
      I like hearing from Tony Greer because he have a completely different view. He really tries to 'follow-the-money' - he may not always be right - but his thesis is based on a particular 'causation' that he articulates well. Great to hear his view.... P.S. Nouriel is a real talent! I get worried that I'm agreeing with him too, too much. Dr. Doom....
    • MC
      Michael C.
      6 May 2020 @ 01:58
      Lets not get into name dropping Ash. There are plenty of RV members who have many years of professional experience on both the buyside and sellside with big name firms and family offices. We can all come up with reasons for why the tape paints green or red at any moment. Pick any reason. The thing is chasing the tape does not require insight. It only requires that you chase the tape. And when the market turns and goes back down Tony will have all kinds of reasons to explain it...but again he will just be chasing the tape. It's a purely mechanical process with zero insight.
    • VD
      Vishal D.
      6 May 2020 @ 02:19
      tony's perspective and frankness is great
    • MK
      Michael K.
      6 May 2020 @ 03:12
      Thanks Ash. Lot of haters today. I really appreciate your addition on the RV ticket. I didn’t think you name dropped, and i have and do work at big firms and operate with actual money. Tony is a great guy, met him in person and interacted with him online. All love for that guy.
    • SG
      Sebastian G.
      6 May 2020 @ 03:25
      I really appreciate all your efforts, Ash. The diversity of content is very important, especially in such an uncertain environment. As soon as somebody definitively says the market is going to do X or the USD is going to do Y etc. I run the other way from them. My own view of the macroeconomic landscape is similar to Real Vision's as expanded upon by Raoul and numerous other commentators on the platform. As you say, when viewing the markets through this prism or a more fundamentals based perspective, the market doesn't make a whole lot of sense right now. But that doesn't mean we shouldn't try to make sense of it. Of course, we could all be wrong or slightly wrong. And as we have experienced with exponential modeling and the Coronavirus, even being slightly wrong can have quite significant impacts. Some of the presenters are hard for me to watch, but that's precisely when I know I have to watch it as it challenges my current perspective. If all you drink is Kool-Aid, you will experience a short-term, delirious sugary high, but you will also become fat. If you signed up to Real Vision for day trading advice - sorry to say, but you probably wasted your money. Cheers.
    • KA
      Kevin A.
      6 May 2020 @ 03:32
      I was a HY credit trader (sellside, big banks) for 22-years. I really like listening to Tony. He talks like a normal trader would. Having him on is great for the RV mix. RV has plenty of heavy academic-style approaches.
    • RM
      Robert M.
      6 May 2020 @ 03:49
      Got a nice note from George, the RV membership director, after a previous comment and have been meaning to respond. But will do so here relating to the conversation with Tony. I liked Tony's comments, it is useful to hear how a trader sees the market. But as you pointed out, since the market is volatile, you need to hear Tony's comments almost on a daily basis for it to be helpful, even for LT investors looking to initiate new positions. So to get this type of insight, I utilize Sven Henrich's service at NorthmanTrader to get a daily commentary on the technical side. Sven does a great job breaking down market direction with both narrative and charts, though as we all know, neither Sven or Tony will be right all the time. So for an experienced investor, this type of service can save time and provide useful insight into daily market action plus a intermediate view of where the market may be moving. But it is not a service that is beneficial in a fast moving market if you get it infrequently. Some have complained about the trading videos disappearing from the site. I always enjoyed watching these, but they were hit and miss, with no follow up on the trade idea in many cases, which didn't make them that helpful. So consistency of the contributor is key in these advisory services. And as some of us complained about the Essential service going downhill, my issue has been the lack of consistency of information provided outside of Raoul's interviews where his thesis is very helpful in evaluating a long term macro perspective. From a content production standpoint, it is challenging for you to roll out two videos a day to create a catalog of content when some of those interviews are not that strong, like the one with Dr. Greyson today (say this from having run a company in the online video arena so I get the challenge). But appreciate that "big" names in the investing world are only going to be available maybe once or twice, if at all, to RV so who do you interview for future content? And when you interview people like Greer, McCullough, Kupperman, and Mikhailovich (all smart guys), those of us with an active twitter feed already know what they are going to say before watching the interview and many of them provide both free and subscription content online or via email. So for me, usually not a lot of value add when watching them share their thoughts on RV. Believe RV has 2 strengths: 1. Providing interviews with people that aren't freely sharing their thoughts on twitter, or guys that most of us will never have a conversation or see a video interview online. Grant's interview with Anthony Deden, as an example, is one where it justified my membership for a year. Same with Ross Beaty. Bought some PAAS after that video. More recent ones in this camp include Lassonde with FNV, Halaris, and Hugh Hendry. I don't need these daily. Quality is more important than quantity. Already overwhelmed with free investment stuff online. 2. Macro analysis with Raoul, though some of this has been sheltered in different products RV has launched since I have been a subscriber over the last couple of years. Appreciate the need to have a more premium service, but do believe you walk a fine line between essential and plus services and RV complicates their product lineup. Would prefer you blend those 2 together and come up with a price point in between the two services. And if someone wants to get deep into the weeds with Raoul, then they can go to pro. And in the same macro vein of Raoul, you found your footing with the Daily Briefing. Like most news services, you have set contributors who we as viewers can build a comfort level and look forward to their macro briefing each day (this is why many of us love Macrovoices on a weekly basis). If you are here for macro, then hearing from Tony is not that helpful, unless Tony becomes a regular contributor on the tape so there is continuity in the conversation week to week and is tied to the macro conversation. Today, Tony did confirm some of my own thoughts on the market, but if I was indecisive, not sure there was enough info there to make an investment decision. Long post, but hope it is helpful. As investors are faced with an overwhelming amount of free and paid info online, question is where does RV fit. Since many of us listen to the audio only, the fact that it is a video service doesn't necessarily make it unique. The hard-to-reach guests and the consistent macro analysis from Raoul and the team is where I see the value. Build your in-house contributor team and create that consistent voice for RV.
    • MC
      Michael C.
      6 May 2020 @ 14:53
      Totally agree with this
    • AV
      Alberto V.
      7 May 2020 @ 00:24
      I second every single point Chris has made, this is what I have been thinking all past year. Now my 'membership' is about to end, and honestly I don't know whether I want to renew it given said points. All well put, thanks Chris!
  • TD
    T D.
    6 May 2020 @ 23:45
    A problem with a lot of us macro guys is that we think too far out and miss the massive moves in between. It's great to have on people like Tony who can articulate, with good reasoning, how things might play out in a shorter time-frame. Keep it up, Tony! Hope to see you on here more often.
  • AS
    Andrew S.
    6 May 2020 @ 13:21
    Grab yourself a proper podcasting mic Ash, it will decrease the room reverberation noise. :)
    • JB
      James B.
      6 May 2020 @ 18:50
      Earbuds like Tony's would probably be enough. Anytime someone uses the mic and speakers on their laptop, the results are mediocre audio quality.
    • AS
      Andrew S.
      6 May 2020 @ 22:45
      The closer the microphone is to the mouth the less room ambience is captured.
  • KB
    Kevin B.
    6 May 2020 @ 22:36
    Great video and really informative. Give us more of this!!!
  • RD
    Riki D.
    6 May 2020 @ 22:06
    Learnt a long time ago to leave idealism at the market door when you walk in... trade the ticker and not your idealism. Great to have Tony on for a refreshing contra perspective!
  • SR
    Suds R.
    6 May 2020 @ 10:39
    what does "40 Vol" mean??
    • KL
      Kenneth L.
      6 May 2020 @ 14:12
      VIX @ 40
    • RP
      Richard P.
      6 May 2020 @ 21:30
      You lost bro?
  • PW
    Phil W.
    6 May 2020 @ 20:47
    Has of the last month or so, my trading range has been 1 to 4ish days. There are very little fundamentals in these markets. If I see $500 to 1k to the green I take it! snipers-are-us. I see where you are coming from Tony, good thinking
  • RK
    Robert K.
    5 May 2020 @ 22:47
    With all respect man, for somebody who spends his day looking at moving averages on his screen pushing buttons one would expect a bit more humility when talking about real investors like the old fart Omaha main man Buffet.
    • Bm
      Ben m.
      6 May 2020 @ 00:07
      I find it so Ironic that the moment Burkshire started accumulating people started giving him so much crap and not a couple years later here we are. I bet there are many funds that wish they had 100+B in a rainy day fund.
    • TG
      Tony G. | Contributor
      6 May 2020 @ 18:19
      So I should respect Buffett - who plays by a different set of investing rules than the rest of it - because Robert K. says so. MKAYYYYYY.
  • CS
    Chris S.
    5 May 2020 @ 23:19
    How are you going to “bang nails” and bring back housing when you have extremely high unemployment and no one to purchase those homes?
    • TG
      Tony G. | Contributor
      6 May 2020 @ 18:18
      are you joking? Do you think the world disappeared because of coronavirus?
  • PB
    Paul B.
    5 May 2020 @ 23:29
    Does this Guy even look at International Travel, Unemployment, forward looking Company Earnings...Love these charts Guys, they live in there own little World, you Americans are in for a world of Pain...I'd be betting on anything other than the Stock Market about to go into the Insolvency Phase. Keep watching your Tape Buddy.
    • RM
      Robert M.
      5 May 2020 @ 23:58
      Paul, listen to the interview, Tony is not saying it’s a horrible economic picture, he is reading the market sentiment, we will be or are in a depression and the Dow will go to 10000, it’s all timing.
    • jR
      james R.
      6 May 2020 @ 00:19
      i think he said 3030 is absolute top...not exactly bullish, eh?
    • TG
      Tony G. | Contributor
      6 May 2020 @ 18:17
      OOOOOH PAUL - - we're soooo scared.
  • MC
    Michael C.
    6 May 2020 @ 00:07
    Tony may be successful at what he does, good for him and I wish him luck. But I would like to question whether tape chasing talk with its bluster and bravado and the incoherent narratives plucked from all over the place pretending to be some form of due dilligence is something that adds value to RV or dilutes value. Chasing the tape is just what it is. Chase the tape. There isn't much else to it. I think this style of coversation should be left to those who do it best at CNBC. Everyone at RV does a great job and delivers awesome content. I am very happy with my subscription. But its not possible and not realistic to expect that you are going to get amazing insights about markets everyday. In fact its usually rare. On these days it would be better to cut the daily video down to 5 or 10 minutes. Nobody will respect you less for it. Quality over quantity.
    • TG
      Tony G. | Contributor
      6 May 2020 @ 18:16
      Michael - of all the negative views on here - you are the only person I think is a total clown and knows NOTHING about trading. If you call it "Tape Chasing" with "Bluster" and "bravado" it's because I'm making money - and you're not. What a tool.
  • TS
    Thomas S.
    6 May 2020 @ 00:09
    For some reason, Tony reminds me of Nassim Taleb's Fat Tony
    • TG
      Tony G. | Contributor
      6 May 2020 @ 18:14
      HAHHAHAHA nice.
  • CD
    Cheryl D.
    6 May 2020 @ 00:45
    So Tony would you be one of those people that would be willing to go to a restaurant or the Apple store in NY for a grand reopening?
    • TG
      Tony G. | Contributor
      6 May 2020 @ 18:14
      Day 1. I'm not afraid at all.
  • HE
    Henry E.
    6 May 2020 @ 00:56
    Are there any "discounts" available to TG Macro for Real Vision clients?
    • JA
      Johnny A.
      6 May 2020 @ 01:26
      I second this. That would be very appreciated.
    • TG
      Tony G. | Contributor
      6 May 2020 @ 18:13
      THIS WILL BE DONE.
  • RA
    Ralph A.
    6 May 2020 @ 01:26
    I am always so disappointed when they choose Tony for the daily briefing. Who cares what short term speculators are doing trying to pick up pennies in front of bull dozers. I am paying for a Real Vision, subscription not Real Traders. I have never heard anything from Tony and thought to myself wow, that is really insightful. Please have more briefings with Raoul.
    • TG
      Tony G. | Contributor
      6 May 2020 @ 18:12
      VERY insightful Ralph. Wow.
  • LL
    Linda L.
    6 May 2020 @ 02:19
    Hey Tony I appreciate your input. The comments have been really nasty today - and I am sorry. We need to hear views that may be opposed to our own. I just cant afford to pick up quarters in front of a bus. So I will wait until 3300 or so, and hopefully the market and the real economy will get more in sync. Once I see that Ill feel safer putting $ to work. Please continue to participate - we need your perspective
    • TG
      Tony G. | Contributor
      6 May 2020 @ 18:11
      Sure will Linda thank you.
  • EH
    Eric H.
    6 May 2020 @ 02:31
    I have to completely disagree with anyone complaining about having Tony on. He’s a great change of pace from the broader macro discussion. Most macro conversations have to obviously lean towards the real economic conditions but that doesn’t always translate to the shorter/medium term market opportunities. Love the content!
    • TG
      Tony G. | Contributor
      6 May 2020 @ 18:10
      Hey thank you Sir Eric.
  • SH
    Sahil H.
    6 May 2020 @ 03:25
    I think a lot of people here (including myself when I started watching the video), are experiencing a lot of cognitive dissonance because the global macro situation is really grim whereas Tony is talking about the short term upside in the market and the factors that are driving it. One I think people need to consider when watching RV videos is that guests are using different time horizons as the basis of their analysis and they don’t always explicitly outline the duration of that horizon. Most guests on RV are typically assessing specific industries with respect to its stage in its own market cycle or looking at the global macro over its market cycle. So, they are looking on much longer TF’s i.e. somewhere between 1-5 years from what I’ve observed. Tony is talking about reassessing his bullish bias when the S&P reaches a strong technical resistance at 3030 ( 5.8% up from close). With vol at ~40 and S&P closing yesterday at 2868 that could literally happen within the next couple of days/weeks. So, you’ve got to remember that his thesis is very short term and heavily based on the impact of re-opening which I believe makes it very fitting to have on a daily update. From watching Tony’s previous RV video it sounds like he trades in >3 month TF’s and so when I watch his videos I weigh the strength of his opinions accordingly. i.e. anything in the next couple months may be very valid and beyond that, there is probably better real vision guests to pay attention to.
    • TG
      Tony G. | Contributor
      6 May 2020 @ 18:10
      Totally fair. Willl keep this in mind.
  • JL
    John L.
    6 May 2020 @ 03:32
    Lets remind ourselves of one thing...We are the RV community.... Why quibble and insult contributors. Ok so they may not be your cup of tea. Maybe hand gestures bother you..get over it ! Not all daily briefings will suit everyone. Its so valuable to have at our fingertips, one interview about Global Macro, another about short term technicals, tale of the tape type info that TG provides, right at the coal face. One minute, I'm looking at the chart of truth by Raoul, the next click, I see the double top around 3030 on the SP500 to which TG refers during last Fall. It all has value..We learn more from both. It doesn't have to be either/or. FA and TA. For mine, Godspeed Iron Man (TG). May you navigate well each morn.
    • AB
      Ash B. | Real Vision
      6 May 2020 @ 03:43
      Hi, John. Exactly. Extremely well said. Totally agree. "Right at the coal face!"
    • AB
      Ash B. | Real Vision
      6 May 2020 @ 04:09
      https://www.youtube.com/watch?v=NFnra54Yk44 At 03:52: "Every little boy's ambition in my valley was to become a minor — *BECAUSE THERE WAS THE ARROGANT STRUT OF THE LORDS OF THE COAL FACE* [emphasis mine]..." So perfect...
    • TG
      Tony G. | Contributor
      6 May 2020 @ 18:09
      John that's a great perspective man. Thank you for sharing it.
  • NL
    Nicholas L.
    6 May 2020 @ 06:23
    Having watched Tony’s interviews several times. I have signed up to his news letter. Along with other services. The idea that most want to make the world a fairer place! Unfortunately, this is not how the world works.
    • TG
      Tony G. | Contributor
      6 May 2020 @ 18:08
      Super kind of you Nicholas - I hope you like what you read.
  • RK
    Roger K.
    6 May 2020 @ 09:39
    TonyG the market realist! thank you.
    • TG
      Tony G. | Contributor
      6 May 2020 @ 18:07
      My Man Rog'
  • MD
    Marjan D.
    6 May 2020 @ 12:22
    Keep Tony on, we need the mix! Went with puts at the last fib retracement, to early clearly. Best with RV is the mix och global macro and tech hard on trader. Ash, could you get some macro guy on who knows Basel updates and how it puts gold back in to the global financial markets in pair with cash and gov bonds?
    • TG
      Tony G. | Contributor
      6 May 2020 @ 18:06
      super kind of you Marjan - good luck out there.
  • OM
    Owen M.
    6 May 2020 @ 15:13
    Tony is great, a great guest. keep him coming back.
    • TG
      Tony G. | Contributor
      6 May 2020 @ 18:06
      Owen you're a gentleman - thank you.
  • AK
    Ado K.
    6 May 2020 @ 15:01
    This was an endorsement deal for Bitcoin, "do not bet against the FED". Yes I am definitely betting against them, I am calling bs on their unit of account, and I am calling bs on their right to print crap and claim it has value.
  • DS
    David S.
    6 May 2020 @ 07:07
    Coach John Wooden - "it is ok to disagree, it is not ok to be disagreeable." Why would anyone want to listen to someone they agree with completely. The reason is simple, they are stupid. DLS
  • PB
    Pieter B.
    6 May 2020 @ 06:37
    Fantastic conversation! Thanks a lot guys!
  • DS
    David S.
    6 May 2020 @ 05:15
    It is in every person's interest in the United States to have excellent testing and follow up as we reopen. This will help keep the casualties lower. Yes, casualties as this is a national war against the Coronavirus. If the federal government can do it, then do it. If federal government is not able to set up a workable program, then a basic state grant to each state should be made by the federal government for setting up - we are printing money helter skelter anyway. This should be followed by a grant to each state based on population for testing. I hope we get some terrific medications to make the treatment radically better at home. I hope we get a vaccine as soon as possible. At the same time in a country that has so many people traveling from state to state, we need national testing as we open up. It should be a top priority. DLS
  • AW
    Angela W.
    6 May 2020 @ 05:09
    Ash, firstly want to say you have a wonderful interview style. So respectful, thoughtful and encouraging of your guests. You do a wonderful job! Secondly, I love the way RV provides lots of different perspectives, for your audience to consider. I was interested in Tony’s view on $25 oil and energy producers. Erik Townsend is an oil specialist investor. Have you listened to his Macro Voices interview with Jim Bianco (Hot Topic 14) on April 28th on the subject of Crude Oil? They take the opposite view. Very interesting times we live in!
  • AS
    Ash S.
    6 May 2020 @ 05:07
    Nice interview and good to hear various perspectives. thank you team.
  • DS
    David S.
    6 May 2020 @ 04:46
    Great. Thank you for having Tony back. With the historic shocks to the economy, I'm big-picture bearish, but Tony's insights protect my bull flank. If you watch the market over the past month, anytime we have a sell-off, or even a "sell-signal" there's a strong bid waiting just down at the next support level.
  • DS
    David S.
    6 May 2020 @ 04:46
    Always good to hear Mr. Greer's trading advice. The tape is a momentary reality. You must forget the non-essentials. Thanks. DLS
  • NS
    Nishant S.
    6 May 2020 @ 03:40
    The cases outside NY continue to grow exponentially. Unfortunately this is not going away fast. Heres the graph. https://rpubs.com/covid_tracker/609934
  • BR
    Benjamin R.
    6 May 2020 @ 03:10
    Outstanding.
  • JD
    Jesse D.
    6 May 2020 @ 02:54
    I work O&G and while reduced capex will greatly reduce supply, there is still way too much oil out there. Oil should plummet again or at least all the companies will when next quarters earnings are out. Way more companies need to go bankrupt before I buy back in.
  • PB
    Paul B.
    5 May 2020 @ 23:41
    So the Story is the Americans are all in on the one bet "The Fed" and the rest of the World is taking the Inverse Bet. Good luck with that, considering 65% of your Economy relies on a tapped out consumer
    • RM
      Robert M.
      6 May 2020 @ 02:49
      Paul, after reading your two comments, it appears you live outside of the US. Would love to hear more about why Americans are overestimating the bounce back from your perspective. It is always helpful to get perspective from someone outside the market where they live.
  • PB
    PHILLIP B.
    6 May 2020 @ 00:36
    Not sure why such a high percentage of downvotes. The guest was sober and objective. Just the tape. Optics. Perception. Fed. I'm with others that I wanted to buy and missed the five trading days in late March to do so. Oh, well, my fault. The guest is near-term, nay, immediate-term, data focused. Re Buffett, who cares. Sure, one of the greatest. But, Buffett built a mythology and milked it for decades. Good riddance once he and his co-manager retire. Go now, already. Can't wait til they are gone from the picture. Buffet adds very little to the discussion about our collective future. Buffett doesn't care about you. (@buffett please retire already.) The guest also included some trading tips on sectors. What's to downvote? Just the facts. Not emotional. Not attached to a position. Even for the macro-oriented like myself, what's not to like.
    • WW
      Will W.
      6 May 2020 @ 00:46
      I agree, he is the realpolitik of trading. It is always good to hear this perspective, and I need to continue to remind myself that it isn't always about the argument you make, but the price action is the price action.
    • JA
      Johnny A.
      6 May 2020 @ 01:29
      Bears are bleeding and want to express their pain no matter how petty it may be. I say that as a bear who's long and doesn't want to be. But some just can't switch their stance or just stand on the sidelines. They rather trade their opinion than their P/L.
    • RT
      Rahber T.
      6 May 2020 @ 02:44
      Yes I wish he had shared his own positions in these sectors - I liked his different perspective on the market and his ability to read the tape - but if he really can read the tape then discussing his own portfolio along with % allocations would strengthen the case for his point of view.
  • PB
    Paul B.
    6 May 2020 @ 00:08
    In future I wont be watching the video's with this Clown
    • Wl
      Will l.
      6 May 2020 @ 02:05
      In the future I’d like to be able to block comments posted by Paul B.
  • JA
    Jose A.
    6 May 2020 @ 02:04
    FedWatching might be profitable, but it ain't investing. I like this guy Tony because he recognizes the difference. Such a crude view into the way moral hazard plays out is valuable. Sad, but valuable.
  • SL
    Spencer L.
    6 May 2020 @ 01:51
    Politely, it's tough to digest a "macro" view that's provided by a technical, tape-focused trader with a 6 monitor setup that looks like the control center of the USS Nautilus. I think that this type of analysis belongs on the menu here, but not necessarily as part of the macro daily briefing line up.
  • JA
    Johnny A.
    6 May 2020 @ 01:33
    Just read through all the comments. So many people hating on Tony with the old "he'll get his in the end' bit. Dude reads tape, if the market turns he'll know way before anyone else and get short, and then you'll hate him for being right about the market going down.
  • JA
    Johnny A.
    6 May 2020 @ 00:59
    This dude is awesome. I love this guy. Please, more tape and TA traders! Tony is a savage xoxo
  • GW
    Guillermo W.
    6 May 2020 @ 00:43
    Tony - great job. Couldn’t agree with your oil outlook anymore. Many thanks for that I needed the reinforcement in my framework.
  • DH
    David H.
    6 May 2020 @ 00:16
    The comments are fair. Nevertheless, I enjoyed the interview because it gave me a clearer look at how this particular trader approaches the market and might help me with my modest bets. In the May Insider Talks Raoul described himself as long term and Julian as perhaps somewhat shorter term, all in months and perhaps years. This guy is days and weeks, but some of his ideas were interesting. Real Vision has a macro bias and that is why I subscribe, but I wouldn’t throw Tony overboard for being focused on what is happening next week. An occasional reminder of that perspective seems worthwhile.
    • jR
      james R.
      6 May 2020 @ 00:26
      100% concur. He’s a healthy addition to the rotation. I love hearing from a range of opinions on these daily briefings.
  • SG
    Sam G.
    6 May 2020 @ 00:12
    How quickly can narrative change from one video to another. One day we hear about empty streets in NY and how demand collapsed and the other day we hear how demand for housing can snap back as if people are sitting on a pile of cash and just waiting for an opportunity to buy their house. Even if rates remain low for a foreseeable future if less than half of working age Americans will be earning a wage this month how could a demand for houses snap back? I think once Tony adopts a humble presenting style more people would listen to him.
  • RM
    Robert M.
    5 May 2020 @ 23:55
    Thanks Tony, joining your newsletter last week saved my arse after I blew 50% of my March put gains. I was being dogmatic and the market was handing my arse to me. I have no doubt I would be up over $800k had I changed my Apple puts to calls in early April.
  • JS
    Jason S.
    5 May 2020 @ 23:28
    The Fed can’t keep this market propped up forever...
    • DB
      Douglas B.
      5 May 2020 @ 23:36
      Profound
  • FA
    Frank A.
    5 May 2020 @ 23:26
    The bond market has been betting against the Fed....and guess what...they’ve been right