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Stock Market

KyloG

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Also started CRWD and Roku this week on the big sell off. So far so good…along with Amazon, these two have nice cup and handle patterns.

If market decides to reverse course it’s going to hurt.

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drfranklin

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"Still don’t get Bitcoin but I bought some at $30.7k. It bounced off and now this week reclaimed $30k for the fourth time. Let’s see if it can reclaim the 50dma..."
The blip rise of BTC is due to B Word conference IMO - I expect BTC to gradually fall below 30K in the next several weeks - LOTS of FUD - LONG term this could be a buying opportunity - still not sure/similar to the early days of the internet - I like Polkadot, esp with 12% staking on Kraken - I would avoid anything outside of the Top 10 Market Cap in this market (I would avoid DOGE as well, anything associated with Elon Musk)
 
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GeorgiaGirl

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Shooting star weekly candle for the NDX.

Welp. I shouldn't have been talking and the small cap tech weakness was indeed a canary in the coal mine.

Very notable because the Dow posted one a couple months ago and it can't make a higher high since then. In fact it likely just posted a similar weekly rejection to one in June where it was very weak afterward.
Now NDX futures have a record high that needs to trade in regular trading hours at some point, more a matter of when than anything.

Lmao. Look at this person.

The thing that I wonder though is if 15k turns into what 14k and 13k were this year though in the NDX, because it's now tapped it three times with the market open and hasn't busted through (hasn't hit that record high that it needs to trade).
 

KyloG

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$SHOP another I picked up this week at $1525. It has a rich valuation but strong growth and it's business model is great.

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Rain Cold

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Extremely predictable and completely unsurprising.

Time for the traditional one day vacuum followed by a multi-week snap-back to new ATHs. You can look at whatever index or whatever technical indicators you want, but that's the basic pattern. One day, that will change. But persistence has been paying out bigly.
 

KyloG

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Extremely predictable and completely unsurprising.
Past 12-15 months might be once in a lifetime period where the moves down and higher are so fast.

SPY and QQQ are just un real...people were talking about 10% correction and then 3 days later ATH's.

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GeorgiaGirl

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We've seen the quick plunge, then rebound scenario happen so much since late October really (only difference is that time had a deeper correction) but I think this one tops them all if we manage to finish the day with all 3 of the major averages at record closing highs.

If this continues to early November (which I do have my doubts about as I've been eyeing September if tech fully reporting doesn't stop the Nasdaq-100 shortly), the "quick plunge, then rebound" deal is going to be the story of the full 12 months.

I've been getting tricked by it lately. Shame on me. I think what should probably be the best gauge is to keep an eye on the 50 day for the S&P. It's had multiple fast pullbacks down there, but hasn't stayed down there for long. Stay lower than it for more than just a day or two or keep selling while under it and that'll probably be the moment that you see something more like that pullback in September last year.

Edit: It's not that I trade, as I've said, although I've given thought on "getting more cautious" at times and maybe hedging a little when things don't feel right.
 
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GeorgiaGirl

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The Nasdaq-100 is now up nearly 23% since March 8th and that *includes* a 7.4% pullback from mid-April to mid-May.

What an absolute monster when it wants to be.

As I said earlier today...

- I was a fool to not wait to see more information here on Friday.

- If tech fully reporting doesn't stop this index, it's probably not stopping until early September.
 

KyloG

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$LOW been holding since $190 and finally broke out this week. Looking for a move to $207 then maybe consolidation. Earning is mid August. Blew out last earnings and I expect this one to be the same.

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KyloG

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SPY fried the shorts this week. I do expect a gap fill down to $436 or so next week. But will be buying dips in my favorite names.

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KyloG

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Did close $SHOP at $1645 from $1525. $1650 was my target and didn’t think it would hit it today. Done with this trade, that completed 5th wave but it could go higher.

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KyloG

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I bought Target at $215 and all it does is grind higher. It’s RSI is very overheated but it’s not over valued. It does $100B in rev and market cap is only $129B while growing at 20%.

Amex reporting earnings today and said consumer spending is strong, thus retailers are doing well.

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GeorgiaGirl

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The reason I've referenced September a few times now is partly because of last year, but it's also because it's a quarterly rebalancing month.

But on the S&P level, the best guess would probably be that it ends up being a tough consolidation month with one of those fast dip and rebound deals happening in the month, until proven otherwise.

Edit: Should add, I'm not expecting anything more than a pullback here "if" it happens at all in 2021.
 

KyloG

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CROX on watch. Blew out earnings, not a high valuation at all. 60% growth, will do $2.5B in rev and only $8B market cap.

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KyloG

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UPS looks ready…I added shares this week at $210 and today at $211. Though, both FDX and UPS been very quiet lately. But, the big tech reports earning next week so maybe some rotation into plays like LOW/UPS.

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VegasEagle

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Something to ponder,.... in April I said inflation is showing in the stock market price increases, ( the economy is not as strong as you think, just being propped up and excelling with the printing of money) I don't know how long the printing press will last. The jobs reports are sending mixed signals. I am thinking a crash will happen within the year or less. Signs of the consumers pockets are getting lighter. The purchasing of meat and subscriptions are on the downward trend. Add the fact, eventually the government can't keep home loans propped up more than six months from now ( give or take a quarter after the new year) and renters support to vanish. Big guys will buy up the foreclosure and/or the housing sell off. I believe the upper middle class investors with be crushed soon. My point is, keep your eyes open for a small crash with a recession as a very high possibility.
 
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Crypto breaking out. Also loaded about 10k Doge DooDoo coins last week. Long. If I lose it all $&(! It. Will be no different than my recent stonk beat downs.
 
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