DOW

Paitech wrote: This is the reason....

Easyjet confirmed last night that it had secured a £600 million loan from the Covid Corporate Financing Facility (CCFF), issued by HM Treasury and the Bank of England.

In addition the carrier has drawn down $500 million (£407 million) from its Revolving Credit Facility, raising cash reserves to around £2.3 billion.

The news came on the same day that Easyjet’s founder and largest shareholder Stelios Haji-Ioannou again called for the carrier’s £4.5 billion contract with Airbus to be cancelled, warning that failure to do so could see the airline run out of money “around August 2020, perhaps even earlier”.

Not sure that's the reason the markets are flying - or why Easyjet is performing.

The money EasyJet have secured isn't revenue or profit or a lottery win. It's DEBT.

Debt either has to be paid back, defaulted on, or issued against bonds or equities - Any of these will have an adverse effect on the SharePrice.

For now, the market is euphoric so, they'll ride the ride - I'd say be cautious. and remember that old quote "It's the hope that kills ya".

This is the reason....

Easyjet confirmed last night that it had secured a £600 million loan from the Covid Corporate Financing Facility (CCFF), issued by HM Treasury and the Bank of England.

In addition the carrier has drawn down $500 million (£407 million) from its Revolving Credit Facility, raising cash reserves to around £2.3 billion.

The news came on the same day that Easyjet’s founder and largest shareholder Stelios Haji-Ioannou again called for the carrier’s £4.5 billion contract with Airbus to be cancelled, warning that failure to do so could see the airline run out of money “around August 2020, perhaps even earlier”.

Well this is almost bordering on insanity imvho...
Airlines whose planes are all grounded are up 25% today based on what exactly?

i'm so tempted here to short the dow....so i dusted the ig markets account down and put a couple of orders in put in with tight stops....
23811 with 150 pips stop

if that fails to hold then 24291 again with a 150 pip stop...

i'm also looking to short bp and ezj....and one or two others...
so lets see...

atb, wdik, dyor
trendfriend

Great post Jackozy (we've missed you man, it has been ages!)

the 25,240 on the dow looks very ominous; but we're talking about another 2000 point move before retracement; that's a hell of a bid bet for the markets to be making at a time where massive challenges are ahead.

As expected, the downtrend breakout came:


We must remember that really fast moves have no stability so counter moves will usually also be fast/strong.

Will be interesting to see what happens around the 25240 61.8% Fib level. Like FTSE, there's also a gap near this Fib.

Great Post (as usual Remo).

The markets are all about pain - and I gotta say (like yourself and any other trader), I've taken some pain. I had to!

Anyway, risky trade - but the lines are holding well (range bound) for quick scalps on the five mins.

I'm probably going to save the "proper" shorts for the FTSE and SPX, but will scalp the Dow every now and then (looking after the pennies).