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Stock Market

Jon

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Needless to say, today wasn't all that hard to predict. I knew jobs reports was going to beat projections again. Major green unless some big players decide to take profits before the 3 day holiday, and even if they do it should still be solidly green.

Future days might be murkier, but for today the stock market says Happy early Independence Day.
Down 355 points from the high today, not that good of a look going into the holiday but a nice bounce near close. Was only 43 points up last 5 mins of trading
 

GeorgiaGirl

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Lmao futures are going berserk at least as of right now, I actually figured red tomorrow but I guess maybe not. We'll see if 3140+/3150+ can hold finally. If not, I think we probably wind up fairly flat for the week.

Also snagged this from stocktwits earlier in the evening (90% of that site is ****, but there's some interesting info, especially if this is true):

ifthisistrue.png
 

GeorgiaGirl

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It is the year 2025. The NASDAQ is currently at 20,000ish, and has been up 9 out of the last 10 days consistently. The froth knows no end, and it just keeps on going.

But seriously, this is at least the 3rd or 4th time I've been thinking the NASDAQ is way too frothy on the day in like the last week.
 

Rain Cold

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It is the year 2025. The NASDAQ is currently at 20,000ish, and has been up 9 out of the last 10 days consistently. The froth knows no end, and it just keeps on going.

But seriously, this is at least the 3rd or 4th time I've been thinking the NASDAQ is way too frothy on the day in like the last week.
TINA mode in effect
 

GeorgiaGirl

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I think the S&P 500 wants 3220 next week if something awful doesn't occur and can see the DOW getting to 26500 soonish after some normal waffling. Think the NASDAQ is overstretched but that hasn't mattered yet.

Beyond that, idk. It'd make sense to pull back after those levels but nothing makes sense anymore.
 

KyloG

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Purchased 500 shares of WIMI on Friday morning at $ 7.19. Sold later that morning at $8.95 thinking it wouldn't break $9 since that was the premarket high, Thursdays close was $4, you would think it would cap out by $9 for the day. I thought I was so smart...here was the chart when I sold. I thought I was the man...but...

Screen Shot 2020-07-11 at 9.48.21 AM.png


Unfreakenbelievable...look what happens, never stops going up...all the way to $23+. 🤬

This pulls back back to $15 or so I will hop back on. It has a huge gap to fill now back to $14.

Screen Shot 2020-07-11 at 9.48.32 AM.png
 

KyloG

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Tesla is a fraud. One day it's going to come out and the stock collapse is going to be epic.
TSLA hasn't had a profitable FY yet and that is with them making $400m or so selling regulatory credits. They are worth almost $300B but they did $24B in rev last year. The rev growth does justify a $300B but not sure how they are going to become profitable, he's been laying off people over the past year. High growth companies don't lay off people usually. They are also going to see a ton of new competition, which he really hasn't had. I wouldn't touch TSLA stock.

I do own NIO (EV stock), got in at $13 this past week, and plan on staying there. It's a company based in China selling eSUV's and doing really well. It's got a ton of financial backing now to get going and if it can expand to Europe/US it will really start growing.
 

GeorgiaGirl

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Watch for the snowflake IPO. They're IPO'ing either this summer or sometime in the fall. They're a cloud database firm and are already pretty profitable.

When they IPO it'll probably be a pretty good swing trade, especially if you hit the right price it starts at, and it might be a good investment in general.
 

KyloG

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Watch for the snowflake IPO. They're IPO'ing either this summer or sometime in the fall. They're a cloud database firm and are already pretty profitable.

When they IPO it'll probably be a pretty good swing trade, especially if you hit the right price it starts at, and it might be a good investment in general.
Attended webinar a few months ago and it's a cool product. CEO is legit, going to be rocket when it does IPO.

Seems like I have been hearing about there IPO for many months now. Tech is super hot right now, you would think they would do it sooner than later.
 

GeorgiaGirl

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Don't look at Tesla's price today. 🤦‍♀️🤦‍♀️🤦‍♀️

At this point, I do think they're going to wind up being your next cautionary tale, potentially as soon as spring next year even if they remain a reputable company.
 
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GeorgiaGirl

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We went higher than my 3220 target for the week on the S&P 500 and it only took about an hour and a half. If banks even surprise just a tiny bit the DOW is probably going to be thrown to 27,000+ before any chance of another pullback.
 

Rain Cold

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We went higher than my 3220 target for the week on the S&P 500 and it only took about an hour and a half. If banks even surprise just a tiny bit the DOW is probably going to be thrown to 27,000+ before any chance of another pullback.
Mania and money printing will do that every time.
 

VegasEagle

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GeorgiaGirl

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Tesla is freaking hilarious at this point, although it would've been a good buy in the 100s-400s, it would have most definitely been a bad idea in the 1000s+ (and especially 1200s+), can't imagine how many people are trapped there.

thanks for reminding us all that FOMO is a bad idea in ONE day.
 

Storm5

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