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Misc Stock Market

I remember last Friday thinking maybe we hit a short term bottom...and now here we are again....short term bottom? ?‍♂️


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Rain Cold said:
Not a very far fall out of such a robust H&S pattern.
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Agreed, rates are dropping today and there has been intense selling for several weeks now. SPY had its worst month since the covid fall. I don’t know..I expect more chop. And downside is favored IMO.
 
Until SPY reclaims the 8dema and can hold it then things are still bearish...I am long SPY/IWM and a few other things though.

Perfect rejection today, which isn't surprising, it had a big move today with volume.

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KyloG said:
Until SPY reclaims the 8dema and can hold it then things are still bearish...I am long SPY/IWM and a few other things though.

Perfect rejection today, which isn't surprising, it had a big move today with volume.

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Well...market still looks like crap, these oversold bounces are really hard.
 
Added $X shares today at $21.90 and also added some $24 Dec calls. Inflation play for Q4. ?‍♂️
 
------- Chewy. Think I might just cut my losses at this point. Just goes down every day.
 
Not sure what to believe at this point but this is fun. The only thing I know for certain is that the whistleblower on 60 Minutes last night was a government op. When you whistleblow you don’t run to the press. No shot. Whoops..this is the stock thread DCDC48F7-79BF-41BB-9240-32683F92125D.png
 
Tech gave up a key trendline/support today. Bounced right at the 30wema which has served as major bounce area in the past.

I don't know what the reasoning is for this deep a sell off...is it the debt ceiilng? rates? inflation? oil? Or all the above?

We are on week 5 of the q's selling off, it's been a long long time since tech been down 5 straight weeks.

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RSI getting very oversold in tech, sub 30 after today. Last time it was this low was the covid crash in March 2020... before that was Q4 in 2018.

We can definitely go lower but a relief rally, a hard rally I think is due. Personally, I wouldn't mind more carnage, the bigger the dip the bigger the rally. Q4 2018 saw almost 25% correction but then Q1 2019 saw a 33% rally. Of course, for this type of scenario to occur we would need Q4 to really suck and that will be painful.

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Jimmy Hypocracy said:
Not sure what to believe at this point but this is fun. The only thing I know for certain is that the whistleblower on 60 Minutes last night was a government op. When you whistleblow you don’t run to the press. No shot. Whoops..this is the stock thread View attachment 92066
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Seems to be coming back now.
 
$IWM...2nd biggest holding now in long term accounts. Back above moving avg's...time to do it's thing.

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$NCLH has been nice, and really many travel names, have been good since MRK's covid pill news.

Added shares last week on breakout of $26, trimmed in the $28's and add back past couple of days. Nice backtest of the breakout last week too.

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$SPY...typical rejection at the 8dema. If it can close over the 8dema it will get very very interesting in the market.

I am still long SPY.

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Added to $X this morning on the dip...having a hard time getting through $22.40. I like steel with inflation high plus the infra bill may help too.



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10yr looks very bullish...which is bearish for tech. But, tech, QQQ, was up today.

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Such fomo…I had bids in for BTC sub $40k mid Sept that just missed and I never went back to it. ?‍♂️

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SPY reclaimed it's 8dema, looks solid.

A rug pull is really going to hurt tomorrow but $427 area has held 3 times now.

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No default @JHS

Another doomsday proclamation bites the dust. This stuff is all for show. Deals are always reached after "intense and contentious meetings stretch well into the night."

Now we can test 500000 on the S&P, until we do it all over again in December.
 
Rain Cold said:
No default @JHS

Another doomsday proclamation bites the dust. This stuff is all for show. Deals are always reached after "intense and contentious meetings stretch well into the night."

Now we can test 500000 on the S&P, until we do it all over again in December.
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Not there yet apparently. Just a bit closer than yesterday though.

www.nytimes.com

Senate Nears Agreement to Stave Off Debt Crisis Until December

With a default on federal debt as little as 12 days away, Senator Mitch McConnell offered to let Democrats temporarily lift the borrowing limit.
www.nytimes.com www.nytimes.com
 
Rain Cold said:
No default @JHS

Another doomsday proclamation bites the dust. This stuff is all for show. Deals are always reached after "intense and contentious meetings stretch well into the night."

Now we can test 500000 on the S&P, until we do it all over again in December.
Click to expand...
Phew close one. Almost went all in on puts. Maybe next year will be the year.
 
Well I guess the impending crash that many keep talking about is out...LOL. This market just wants to go up

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KyloG said:
Haha...when this market gets like this it's just manic buying for days.
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It's really amazing that outside of a global catastrophic event, you don't even get a regular 10% correction anymore. Just a couple percent and to the moon.
 
Rain Cold said:
It's really amazing that outside of a global catastrophic event, you don't even get a regular 10% correction anymore. Just a couple percent and to the moon.
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Yep...in the spring I was late getting back in but this time I was much more aggressive. Yesterday morning was hard, it really looked like the market was about to vomit, Japan/China had big down days the night before we had large gap down. But, I stuck with it and it's paying off. I have a lot of names working that I bought yesterday which is why when I posted yesterday after close that a rug pull would hurt. I did trim some today but I am still bullish.
 
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