• Hello, please take a minute to check out our awesome content, contributed by the wonderful members of our community. We hope you'll add your own thoughts and opinions by making a free account!

Stock Market

GeorgiaGirl

Member
Joined
Jan 5, 2017
Messages
6,154
Reaction score
4,463
Location
Augusta, GA
This really wasn't that great of a day outside of tech stocks but we have seen what can happen plenty of times when the Nasdaq decides to do this.

When it does, it's just going to hide everything.

I'm guessing that QQQ has a shot at $342 and then probably has a mild pullback before we hit July seasonality (which is apparently as good as April is).

Edit: Meant to also add this, now you have people saying that the VIX has been correlated to GME....jfc, because of how annoying these guys have been, I really wouldn't be bothered if they banned option buying in the meme stocks.
 

Rain Cold

You've been fixed. Next!
Staff member
Moderator
Joined
Jan 5, 2017
Messages
9,491
Reaction score
25,681
Location
Raleigh, NC
This really wasn't that great of a day outside of tech stocks but we have seen what can happen plenty of times when the Nasdaq decides to do this.

When it does, it's just going to hide everything.

I'm guessing that QQQ has a shot at $342 and then probably has a mild pullback before we hit July seasonality (which is apparently as good as April is).

Edit: Meant to also add this, now you have people saying that the VIX has been correlated to GME....jfc, because of how annoying these guys have been, I really wouldn't be bothered if they banned option buying in the meme stocks.
I wouldn't get too wound up about the GME homers. Seems unhealthy. Plus, what they say has little bearing on the overall market function. Besides, banning options trading on meme stocks is a bad idea.
 
Joined
Dec 28, 2017
Messages
12,308
Reaction score
26,204
Location
Greenville
I’ve been able to outperform the market by scalping here and there the last several weeks. Made $600 this week just playing EMA bounces with high volume small caps. I haven’t held anything overnight in 4 months. This is the way for now.
 

Jon

Member
Joined
Jan 5, 2017
Messages
1,727
Reaction score
5,253
Location
Raleigh, NC
"They" tried to push down the memes at about 11:15 this morning and it hit the rest of the market at the same time...similar to what happened on January 25th, but less extreme today.
Yeah. I took this screenshot. 10:45am on my phone. What in the fresh hell is that outflow?




Sent from my iPhone using Tapatalk
 

GeorgiaGirl

Member
Joined
Jan 5, 2017
Messages
6,154
Reaction score
4,463
Location
Augusta, GA
Yeah. I took this screenshot. 10:45am on my phone. What in the fresh hell is that outflow?




Sent from my iPhone using Tapatalk
Even if it wasn't as extreme as January 25th, that was still quite jarring to watch live the way I was watching it (through the sector chart), and I still can't think of anything other than it likely being related to the memes (given that their bottoms came at about the same time as the SPX spike bottom). I'm guessing somebody that has been short the memes was rapidly deleveraging at that point because there was high volume.

We didn't get a meme stock party two days later though this time. Instead they got smoked.
 

GeorgiaGirl

Member
Joined
Jan 5, 2017
Messages
6,154
Reaction score
4,463
Location
Augusta, GA
We're getting a Dow style led selloff after OPEX this month probably. I was holding off and holding off, but this basket continues to consistently behave in a terrible manner for the first time since January (where poor behavior was hidden initially, and then the meme stock party exposed it).

By Dow style, I don't mean just stocks in it. I mean stocks that are cyclicals.

Don't think it's going to be anything crazy out of the ordinary though unless the narrative from the Fed changes. It'll likely end up being something like what happened in January again.
 

GeorgiaGirl

Member
Joined
Jan 5, 2017
Messages
6,154
Reaction score
4,463
Location
Augusta, GA
The Nasdaq seems ready to exit the consolidation it's been in since February, just have my doubts that it's going to "really" occur until July.

But to a record for the Nasdaq-100 today and to a record for the broader version before FOMC probably (it had a record close but not yet on a record).
 
Top