VegasEagle
Member
Hard in Apple at $116
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Misc Stock Market
- Thread starter ForsythSnow
- Start date
D
Deleted member 609
Guest
AMD and Apple myself too
GeorgiaGirl
Member
That was a great move to scalp it at $593 but I'm guessing it's going to need more time before it moves higher "if" it's going to. Assuming that NDX does not explode, I can easily see it trading above $800 again in a few months because...well...why not, that's because.
No fundamentals needed here in the case of Tesla, just thinking about how it took months to consolidate before it got going again last year. But if NDX hits an ATH soon it's going to be off FAANG and semis (and because speculation has left tech and you're seeing outflows there, so the contrarian thing would be for it to go up), mostly different things from the story that was seen from November to mid-February. Think we should have a good idea in the next couple days (if it doesn't happen, that is haha), because it's possible today was October 12th part 2, but personally I think we're going to need to eye the action around 13.8-13.9k in the Nasdaq-100 (the latter number having been seen just in futures during a holiday in mid-February).
I wonder if those short positions that I found out about in NDX/QQQ a little while back haven't given up yet. If they haven't given up, they're stuck for now.
I actually didn't like the action in the small caps, but outside of that there was nothing really wrong with what happened today.
I went long tech again, about 10% of my account last week when it kissed the 100 dma. I was close to selling 2/3 today but holding to see how it acts. Chart is bullish even with 2 gaps that need to be filled. Ideally would like a couple of inside days to allow 8dema to catch up.
8dema should cross the 50dma tomorrow.
GeorgiaGirl
Member
Inside day I'm guessing for QQQ after that February 22nd gap fill. Which is cool and totally fine. Should know after these next two days if whether it's going to be able to gear up to challenge that $338+ print very soon.
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Seems sustainable ??
GeorgiaGirl
Member
Pretty textbook by Google here, and this is not even showing an actual chart (well, it is showing the basic chart you see in Google). This shows that a flat base can lead to a breakout as it has twice recently with this stock (and I think you can argue that it has three times in recent years). Would not surprise me if they killed earnings again and then followed it with a big day after that later this month.
Probably also part of why I've been relatively comfortable too, as it's a big position of mine.
Probably also part of why I've been relatively comfortable too, as it's a big position of mine.
snowlover91
Member
Pennies starting to make a bit of a rebound, trading by "old OTC" rules where things run for a day or two and you have multiple runners. Good to see, getting close to where I was before the crash. Seems money and volume is flowing back to the OTC now.
VegasEagle
Member
Stimulus check money hitting?
GeorgiaGirl
Member
The Russell 2000 ended up finishing -1.6% today and looks pretty bearish, but that won't really matter overall if this market is going to be behaving like how it has in the past with the VIX under 20 and if that large IHS plays out in Apple (and if the mega Nasdaq names are now going to be participating consistently).
Reference on the IHS:
Cameron Osborne on Twitter: "$AAPL is grinding higher post #FOMC minutes. Let's see if it can break the 50 DMA. Large inverse head shoulders forming above the 200 DMA. $NDX $QQQ $VXX $VIX $UVXY $SPX $SPY $IWM https://t.co/q8Ecku5JQL" / Twitter
Edit: Although part of the reason for action like this is because the market is pinned right now. It won't be pinned after next week, which is why it'll be very interesting to see what happens then.
Reference on the IHS:
Cameron Osborne on Twitter: "$AAPL is grinding higher post #FOMC minutes. Let's see if it can break the 50 DMA. Large inverse head shoulders forming above the 200 DMA. $NDX $QQQ $VXX $VIX $UVXY $SPX $SPY $IWM https://t.co/q8Ecku5JQL" / Twitter
Edit: Although part of the reason for action like this is because the market is pinned right now. It won't be pinned after next week, which is why it'll be very interesting to see what happens then.
snowlover91
Member
Maybe partly due to that, but I think it is more people moving back into pennies since the SEC has cooled down with suspensions and confidence is increasing again. Also as summer approaches people usually will play pennies to make a quick buck for vacations, spending, etc. Might not be the case now with covid but that’s how it historically has traded leading into the summer. April could be a good month for OTC if things continue.
GeorgiaGirl
Member
3rd highest close ever for QQQ.
Likely will see 338 by Monday if it doesn't tomorrow at this point and it will be interesting to see what happens then.
Likely will see 338 by Monday if it doesn't tomorrow at this point and it will be interesting to see what happens then.
D
Deleted member 609
Guest
It's crazy that you can barely see covid in this 5 year nasdaq view
What’s coming will be much more noticeable on a 5 year chart
Jon
Member
In the middle of a booming recovery? I feel like we’ll see one but shooooo it will be a while. The market will roar for some time I think.
VegasEagle
Member
I agree
I agree, but, maybe the middle of next year, we will see a downward slide. The next lagging quarter reports should be good. But, after those, the market will back to normal. Just a SWAG from me of course. Also, some of the numbers are showing inflation. But, one unusual item to consider is the housing shortage and building supplies.
bingo. New neighborhoods around my area are at a standstill. They’ve piled dirt in front of the entrance to the neighborhood being built near our family farm. Lumber prices are too high to continue the build I’m afraid.
We're still well back from where we were before Covid. But the stock market is higher. It's no mystery why that’s the case. The stock market hasn't been connected to earnings, company health, or the economy in general for a long time now. And that's unlikely to change until the Fed stops supporting it. And that's unlikely to change anytime soon.
VegasEagle
Member
I agree
I agree, but, maybe the middle of next year, we will see a downward slide. The next lagging quarter reports should be good. But, after those, the market will back to normal. Just a SWAG from me of course. Also, some of the numbers are showing inflation. But, one unusual item to consider is the housing shortage and building supplies.
100% correct, the prices of homes are leaving first time home owners in the dirt. Which hurts many professions like realtors, tile installing people, drywall, mortgage workers, lawyers, roofers and etc..... Also, there should be more supply issues , like the up coming vinyl siding shortage. So a bubble is forming in that sector, but, should not be as bad as 2008.
To the moon. Housing crisis 2.0?
I’m still really heavy in many stocks right now but started taking some profits. I had wanted to have a weed play and decided to go with $GRWG, I picked up some shares at $46 when it reclaimed the 100dma a couple of weeks ago. It’s not a spec play, it has strong revenue growth and theyraised guidance. They sell the tools and such that helps grow the weed.
You should buy MCOA. It’s been a real moneymaker for @Rain Cold ?
VegasEagle
Member
Which equals to $12,000 to 14,000 per 1000sqft of house. Could even be $15,000 now. The shortages or in earth movers, windows, doors, wood, and some fixtures. But, a main pressure is the shortage of homes. Many builders can't build them fast enough and or jacking up the prices in this sellers market.
VegasEagle
Member
I saw Apple consolidate at $116 , with earnings in a few weeks.and people perception of not wanting to miss out on big numbers.... I decided to buy the rumor to sell the news
Jon
Member
and I sold apple today. Lol. Maybe a mistake...but I didn’t want to hold long term and there’s not really a catalyst for apple in the near term. I find it hard to believe it will roar back to 145 by earnings but maybe I’m wrong. I hate holding stocks through earnings too, I have the worst luck and I always get burned.
I have a feeling big tech will bleed again. Tesla 30% off ATH was definitely not enough and it’s hard to believe that was the bottom. I’d think 50% from ATH was due and it didn’t happen. Talk about a bubble stock.
Jon
Member
It should right? I mean, the market today is unlike anything we’ve seen given the circumstances...we can try to compare it historically but behaviors just aren’t the same.
I’m struggling where to put my cash for a 1yr+ hold after maxing out my Roth. This market just seems all over the place and recovery stocks seem overbought but really a lot of them are 20% off their levels pre-covid, but a lot of those companies also have debt from all the cash burn. It’s just a tough market right now. I miss the last few years when literally any tech company was a good pick.
I've been under a rock I guess about building supplies, found out Saturday when I went to Lowe's to get one lousy sheet of plywood.....cheapest they had was $50!! That's just stupid and have no idea how anyone can afford construction at those prices
D
Deleted member 609
Guest
Jimbo your missing out on the tendies.
I’m in and out with the quickness
I bought $PFE a few week ago at low $35’s. Great dividend, and been holding $33-$36 for a long time now. I think it could make a move to $40, slow mover though. It’s vaccines should drive strong earnings for a while.
Who is still buying this? Insanity 
snowlover91
Member
What a great week in penny stocks. I made in one week what I make in an entire year working lol. Some great plays this week for sure, and looks like OTC is finally starting to move up again.
If you look at the SPY index itself though it's been sector rotation that's been driving it higher which is a worst case scenario for the bears. Below is top 20 SPY holdings...many of these have been consolidating and trading in a channel for many months and are not at ATH's. The only one in this list that needs a rest is $HD. $TSLA is still 30% off it's ATH's....CRM and PYPL are 25% off it's ATH's. Apple 15% off ATH's and had one of it's best earnings last q. ADBE is still trading at it's highs from last July...actually probably a good stock to add, it looks ready to go.
I went balls deep long a couple of weeks ago and I've trimmed some but if the market tanks it's going to hurt. I'm fairly diversified though.
$AMZN weekly chart...been trading sideways since last June/July. If it decides to make new ATH's then the SPY/Q's are going to keep going. If AMZN announced a stock split it will go nuts and so will tech. Apple just had strong break of it's August high with volume. ADBE looks great...I may add that Monday.
few other holdings that have been trading sideways, these are all top 10 holdings in SPY and if they decide to make new highs...
few other holdings that have been trading sideways, these are all top 10 holdings in SPY and if they decide to make new highs...
GeorgiaGirl
Member
The rotations have been happening almost every single day. Break them consistently instead of every now and then (break it like March 4th for example) or the market stays asleep and the VIX will remain relaxed compared to how it behaved up to early March.
Edit: Should also add, my spidey senses are tingling a bit, but I'll wait for confirmation. This SPX move is as insane as the one in late August/early September, but the VIX rose with that move. It hasn't risen with this move.
Edit: Should also add, my spidey senses are tingling a bit, but I'll wait for confirmation. This SPX move is as insane as the one in late August/early September, but the VIX rose with that move. It hasn't risen with this move.
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Diversification saved me today...flat. DKNG and my spec BIO’s got hammered. But, Tesla, SQ and FedEx saved me. PFE was solid too.
BIO’s been getting crushed...bounce time? Right at the 50w
BIO’s been getting crushed...bounce time? Right at the 50w
GeorgiaGirl
Member
I was wondering for a bit, but that ended up being the 12th green candle in a row for SPY (although SPX was down 0.02).
but boo no fireworks. I was looking for some more fireworks and then some red after that.
I think that's likely to be it for now. What SPX has been doing is not bearish generally but some red candles are definitely likely. Question is if the rotations going on underneath keep going on for now. What energy did today didn't fill me with confidence, but it's a wait and see given that the 2021 story has been one area covering up another.
but boo no fireworks. I was looking for some more fireworks and then some red after that.
I think that's likely to be it for now. What SPX has been doing is not bearish generally but some red candles are definitely likely. Question is if the rotations going on underneath keep going on for now. What energy did today didn't fill me with confidence, but it's a wait and see given that the 2021 story has been one area covering up another.