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Misc Stock Market
- Thread starter ForsythSnow
- Start date
packfan98
Moderator
115k was the projection. There was also a downward revision to the May and June reports of 258,000 jobs.
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Glad I closed my swings...I also went more cash in my IRA yesterday...back to 40% cash. Market in complete free fall..
Actually faded Apple off open from $212 and covered at $207. Won't do much else today....
This why I came in the year bearish...tariffs...govt layoffs...feeds into private sector layoffs but this market a clown show and just rips higher all the time. Well...tech earnings have been stellar for AI...without AI we would be in a severe bear market.
Gaw
broken025
Member
You broke the market
GeorgiaGirl
Member
Yeah, I know folks don't want to see it over at Reddit, hah, but another jobs reports like this with more revisions and I'm sorry to say, but rate cuts are absolutely on the table even with inflation stagnant.
If not the Fed, the treasury bond market will do it for them.
It's kinda strange. Consumption is declining in the US, yet SPX capex is going up, which usually doesn't occur. You can argue that the private sector is helping to juice things, but it's with something that could turn out to be iffy, and that's AI build out.
NCSNOW
Member
The Dawn of the AI age has begun.The Next 4 years is gonna see a epic overturn in jobs, careers. Got to be the biggest head scratcher moment HS/College age kids have ever faced. When I was coming up all we heard where computers where coming, even though we never had seen one.
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I faded Apple all day...once it broke 207 and retest failed a few I shorted it again down to $203....also faded a few other things (AMD, SNOW). Probably my best swing day in some time just fading shares. NVDA been holding up well today and it it decides to roll then everythign rolls down more.
Fading some AVGO, 200 shares at 289.30 v/s $290.50. It was holding up too...retail loves these semi names. I am starting to get greedy and that isnt good when you are in short mode.
We got a full blown market crash and NVDA and AVGO haven't blinked...relatively. Have to think these rollover...but I won't short NVDA but let's see how AVGO/AMD shorts work out.
ain’t no way Trump fell for a classic Mededev vodka-induced tweet threatening WW3. He LITERALLY does this crap every week.
JHS
Member
All of this is headed somewhere else too, but no one wants to talk about that. AI is nothing but trouble.
SPY barely pulled back, relative...it's not even to it's 8wema. I would like to see a 20 week ema tag..
Usually engulfing weekly candles at tops have follow through. Look at last July 2024...
Usually engulfing weekly candles at tops have follow through. Look at last July 2024...
broken025
Member
We abandoning ship?
Closed my shorts and flipped long AMD at $170.50, OLKO at 71.55 and TQQQ at $72.20
Stops at afternoon lows.....if I get stopped out and then done for the day. Great day today...wasn't planning on fading so many names but all worked.
Stops at afternoon lows.....if I get stopped out and then done for the day. Great day today...wasn't planning on fading so many names but all worked.
I think the 50dema is coming or the 20wema. Somewhere around $600...I will stay cautious until then. Take trades but get in and get out.
GeorgiaGirl
Member
The BLS revisions this time were definitely extra bad, but I have no choice but to believe that the firing here is to fudge the numbers.
Maybe I'm wrong, but I'm certainly not confident.
Maybe I'm wrong, but I'm certainly not confident.
Not me trying to time the perfect bottom to start compounding a 30 year Roth IRA
The trick to the market is you just buy everything when it’s red and keep buying til you get old and only have a few years left to live. Then you dump your lifetime stonk earnings into a nice retirement home @ 7k a month. This should give you about 10-20 years to live comfortably playing bingo and eating meat&3 while your body and brain slowly (or quickly) begin to fail you. That’s the American dream baby.
NCSNOW
Member
JHS
Member
Fair point. That turned out to be nothing. AI is a lot more dangerous though with the potential to put 50% or more of us out of work in the future among many other things.
Huge gap up into the gap from Friday...almost filled. Market loves it's counter trades...
Only 2 swings today...faded AMZN from $217 to $213 and now have a small TQQQ short off 86.90 v/s the high of the day of $87. In and out of trades when volatility creeps up like this...
Nothing really to buy...everything was bid up in pre-market and now it's either chase, which I won't buy strength when market is like this or wait for some sort of gap fill below.
Only 2 swings today...faded AMZN from $217 to $213 and now have a small TQQQ short off 86.90 v/s the high of the day of $87. In and out of trades when volatility creeps up like this...
Nothing really to buy...everything was bid up in pre-market and now it's either chase, which I won't buy strength when market is like this or wait for some sort of gap fill below.
Added AMZN long when it reclaimed Fridays low at $213...it's been relatively weak so will see. It's why I covered short earlier at just over $213...now lets see if it can get back to 215.
